VANCOUVER, BC, Aug. 13, 2024 /CNW/ – Eastern Platinum Limited (TSX: ELR) (JSE: EPS) ("Eastplats" or the "Company") is pleased to report that it has filed its condensed interim consolidated financial statements for the three and six months ended June 30, 2024 and the corresponding management's discussion and analysis ("MD&A"). Below is a summary of the Company's financial results for the second quarter of 2024 ("Q2 2024") and for the six months ended June 30, 2024 ("YTD 2024") in comparison to the same respective period in in 2023 ("Q2 2023" and "YTD 2023") (all amounts in USD unless specified):

  • Revenue for Q2 2024 decreased to $18.8 million (Q2 2023 – $36.6 million), representing a $17.8 million or 48.6% decrease. Revenue for YTD 2024 decreased to $34.5 million (YTD 2023 – $54.7 million), representing a $20.2 million or 36.9% decrease.

  • Mine operating income decreased by $8.9 million (or -66.9%) to $4.4 million in Q2 2024 (Q2 2023 – $13.3 million) as gross margin declined to 23.6% in Q2 2024 from 36.2% in Q2 2023. Mine operating income in YTD 2024 decreased by $7.1 million (or -42.3%) to $9.7 million (YTD 2023 – $16.8 million), resulting from a reduced gross margin of 28.2% in YTD 2024 from 30.7% in YTD 2023.

  • Operating income was $1.6 million in Q2 2024 compared to $10.4 million in Q2 2023. Operating income was $1.6 million in YTD 2024 compared to $12.2 million in YTD 2023.

  • Net income attributable to equity shareholders was $3.5 million ($0.02 earnings per share) in Q2 2024 versus net income attributable to equity shareholders of $7.7 million ($0.04 earnings per share) in Q2 2023. The decrease in Q2 2024 net income was largely attributable to lower chrome sales in the quarter offset by a decrease in finance costs and a foreign exchange gain in the period due to the strengthening of the South African Rand.

  • Net income attributable to equity shareholders was $2.6 million ($0.01 earnings per share) in YTD 2024 compared to net income attributable to equity shareholders of $7.3 million ($0.05 earnings per share) in YTD 2023. The decrease of YTD 2024 net income was mainly attributable to lower gross margins earned on year-to-date chrome sales offset by a decrease in finance costs.

  • The Company had a working capital deficit (current assets less current liabilities) of $17.0 million as at June 30, 2024 (December 31, 2023 – working capital deficit of $15.5 million) and short-term cash resources of $17.4 million (consisting of cash, cash equivalents and short-term investments) (December 31, 2023 – $21.3 million).

Wanjin Yang, Chief Executive Officer and President of Eastplats commented, "We continue to focus our efforts on ramping up production in the Zandfontein underground section at the Crocodile River Mine and expect to process the run-of-mine ore soon. We are all working hard to improve chrome recoveries from the remaining tailings resource."

Operations

The Company derived revenue from the processing of PGM and chrome concentrates at the Crocodile River Mine ("CRM"). Eastplats' majority of revenue (approximately 96% and 95% for Q2 2024 and YTD 2024, respectively) is from chrome concentrate sales to third parties.

Summary of chrome production for the three and six months ended June 30, 2024 and 2023:

Q2 2024

Q2 2023

YTD 2024

YTD 2023

Total Tailings Feed (Tons)

281,867

615,060

667,166

1,247,014

Average grade Cr concentrate

38.4 %

39.0 %

38.5 %

38.8 %

Tons of Cr concentrate

72,305

127,122

152,187

274,221

The Company continues the tailings storage facility ("TSF") wall building program, utilizing waste rock and paddocking, to raise the wall to facilitate continued depositing of reprocessed tailings. The reprocessing of the original CRM tailings (the "Retreatment Project") is expected to be completed by the end of 2024.

Summary of PGM production for the three and six months ended June 30, 2024 and 2023:

Q2 2024

Q2 2023

YTD 2024

YTD 2023

Tons of PGM concentrate

808

959

1,753

2,115

PGM ounces produced (6E)*

1,060

1,973

2,548

4,108

*PGM 6E ounces are estimates until final exchanges and umpire results have been concluded, which can take up to three months

Year-over-year production decreased between Q2 2023 and Q2 2024 due to inclement weather and operational challenges incurred in the current period, as lower grade sections of the TSF, containing vegetation and other impediments, were being processed.

As the end of the Retreatment Project approaches, Eastplats continues underground blasting activities at the CRM and started to raise and stockpile run-of-mine ("ROM") ore at the surface for processing. The commissioning of the processing plant is expected to be completed by the end of August or early September of 2024, which will mitigate revenue decreases at the CRM. At the normalized run rate, this soft restart phase is expected to produce 40,000 tons of ROM ore per month for processing by the end of 2024. The next phase will see operations ramp up to 70,000 tons of ROM ore for processing by the end of 2025, operating at a steady state rate of 70,000 to 80,000 tons monthly by 2026.

Prior Period Restatement of Comparatives

Certain 2023 comparative numbers in the condensed interim consolidated financial statements and corresponding MD&A have been restated to show the impact of an error that was identified and reported during the 2023 year end process, as discussed below.

As discussed in the previous news release of May 3, 2024, in connection with the preparation of the Company's consolidated financial statements for the year ended December 31, 2023, an error was identified in the recognition of revenue related to a chrome concentrate sales transaction in the fourth quarter of 2022 which impacted the Company's previously filed audited consolidated financial statements for the year ended December 31, 2022 and its unaudited condensed interim consolidated financial statements up to and including the three and nine months ended September 30, 2023.

A sales transaction that was included in deferred revenue at the end of 2022 and recognized as revenue in the first quarter of 2023 should have been recognized in the fourth quarter of 2022 based on the fact that the Company had met all of its required performance obligations at the time, as supported by the underlying contract and bill of lading. Previously reported revenue for the first quarter of 2023 was overstated by $4.0 million, with associated adjustments in production costs, accumulated other comprehensive loss and deficit. These adjustments carried forward into the year-to-date figures reported as comparatives in the Company's quarterly financial statements.

The following table presents the effects of the restatement on the individual line items within the Company's unaudited Condensed Interim Consolidated Statement of Income (Loss), Condensed Interim Statement of Comprehensive Income (Loss) and Condensed Interim Statement of Financial Position, expressed in thousands of U.S. dollars, except for per share amounts. There was no impact on cash flows.

Six months ended June 30, 2023

As previouslyreported

Adjustment

As restatedandreported inthe interimfinancial statements

$

$

$

Revenue

58,694

(4,021)

54,673

Production costs

(36,820)

2,324

(34,496)

Mine operating income (loss)

18,493

(1,697)

16,796

Operating income (loss)

13,898

(1,697)

12,201

Net income (loss) for the period

8,999

(1,697)

7,302

Net income (loss) attributable to equity shareholders of the Company

9,007

(1,697)

7,310

Earnings (loss) per share, basic and diluted

0.06

(0.01)

0.05

Comprehensive income (loss) for the period

1,211

(1,766)

(555)

 

As at June 30, 2023

As previouslyreported

Adjustment

As restatedandreported inthe interimfinancialstatements

$

$

$

Accumulated other comprehensive loss

(325,586)

(13)

(325,599)

Deficit

(843,237)

13

(843,224)

The Company's audited consolidated financial statements for the year ended December 31, 2023 reflected these changes. The unaudited interim consolidated financial statements and related financial information for the affected period contained in the Company's unaudited interim filings prior to May 13, 2024 should no longer be relied upon.

The Company has a primary listing on the Toronto Stock Exchange and a secondary listing on the JSE Limited.

The Company has filed the following documents, under the Company's profile on SEDAR+ at www.sedarplus.ca:

  • Condensed interim consolidated financial statements for the three and six months ended June 30, 2024; and

  • Management's discussion and analysis for the three and six months ended June 30, 2024.

The condensed interim consolidated financial statements for the three and six months ended June 30, 2024 are available for download at https://www.eastplats.com/investors/quarterly-reports/F2024/ and are also available on the JSE's website at: https://senspdf.jse.co.za/documents/2024/JSE/ISSE/EPS/Q224.pdf.

About Eastern Platinum Limited

Eastplats owns directly and indirectly a number of platinum group metals ("PGM") and chrome assets in the Republic of South Africa. All of the Company's properties are situated on the western limb (Crocodile River Mine) and eastern limb (Kennedy's Vale, Spitzkop, Mareesburg) of the Bushveld Complex, the geological environment that hosts approximately 80% of the world's PGM-bearing ore.

Operations at the Crocodile River Mine currently include re-mining and processing its tailings resource from the Barplats Zandfontein tailings dam and mining and processing ore from the Zandfontein underground section to both produce PGM and chrome concentrates.

Cautionary Statement Regarding Forward-Looking Information

This news release contains "forward-looking statements" or "forward-looking information" (collectively referred to herein as "forward-looking statements") within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "will," "plan," "intends," "may," "could," "expects," "anticipates" and similar expressions. Further disclosure of the risks and uncertainties facing the Company and other forward-looking statements are discussed in the Company's most recent Annual Information Form available under the Company's profile on www.sedarplus.ca.

In particular, this press release contains, without limitation, forward-looking statements pertaining to: completion of the original CRM tailings, timing of the completion of the commissioning of the processing plant, mitigation of revenue decreases at the CRM, the monthly ROM ore tonnage ramp up at the Zandfontein underground operations, and timing of expected monthly production rates of ROM ore. These forward-looking statements are based on assumptions made by and information currently available to the Company. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. By their very nature, forward-looking statements involve inherent risks and uncertainties and readers are cautioned not to place undue reliance on these statements as a number of factors could cause actual results to differ materially from the beliefs, plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors include, but are not limited to, unanticipated problems that may arise in the Company's production processes, commodity prices, lower than expected grades and quantities of resources, need for additional funding and availability of such additional funding on acceptable terms, economic conditions, currency fluctuations, competition and regulations, legal proceedings and risks related to operations in foreign countries.

All forward-looking statements in this news release are expressly qualified in their entirety by this cautionary statement, the "Cautionary Statement on Forward-Looking Information" section contained in the Company's most recent Management's Discussion and Analysis available under the Company's profile on www.sedarplus.ca. The forward-looking statements in this news release are made as of the date they are given and, except as required by applicable securities laws, the Company disclaims any intention or obligation, and does not undertake, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

SOURCE Eastern Platinum Ltd.

Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2024/13/c0342.html

Highlights include 39.6m at 5.41g/t PGM+Au, 51.3m at 3.12g/t PGM+Au and 52.0m at 2.23g/t PGM+Au

VANCOUVER, BC, Aug. 13, 2024 /CNW/ – Bravo Mining Corp. (TSXV: BRVO) (OTCQX: BRVMF), ("Bravo" or the "Company") has received assay results from seven trenches in the Central Sector at its 100% owned Luanga palladium + platinum + rhodium + gold + nickel deposit ("Luanga deposit" or "Luanga PGM+Au+Ni deposit"), located in the Carajás Mineral Province, state of Pará, Brazil.

"Bravo's trenching program continues to return excellent results, with grades higher than the average oxide grades reported in the Mineral Resource Estimate ("MRE"). In addition, the greater lateral extent of oxide PGM+Au mineralization at surface is likely to increase the volume of oxide material," said Luis Azevedo, Chairman and CEO of Bravo. "Furthermore, it is encouraging to see that trenching results from the Central Sector continue to follow the trend observed in the North Sector, with broad lateral distribution at surface, combined with supergene enrichment. With trenching now completed across more than half of the Luanga deposit, results continue to outperform expectations."

Highlights Include:

  • Results from the Central Sector trenches continue to demonstrate the broader lateral extent of surface oxide mineralization in comparison to the zones of primary (fresh rock) mineralization observed in drilling below the trenches (including 52m wide in TRC24LU007 and 51m wide in TRC24LU008).

  • Results continue to confirm the presence of supergene enrichment in the saprolite zone (above the base of oxidation), encountering grades that are generally higher than MRE average grades for oxide mineralization.

  • Grades in trenches further corroborate or improve upon intersections encountered by drilling in the underlying fresh rock, while higher-grade zones within trenches, such as TRC24LU001 (39.6m at 5.41g/t PGM+Au) also validate or surpass the high-grade intersections encountered by prior drilling.

  • Results to date suggest more tonnes of oxide at higher grades, assuming similar cut-off grades to prior estimates.

  • Trenching is planned to cover the entire 8.1km strike length of the Luanga deposit and, with work nearly complete in the Central Sector, only the Southwest Sector and a small portion of the North Sector remains.

  • Outside of the main PGM+Au+Ni deposit, the project remains prospective for Cu+Au+/-Ni discoveries with drilling in progress at T5 and T6. This will be followed by drilling at new HeliTEM targets.

TRENCH-ID

From

(m)

To

(m)

Thickness (m)

Pd

(g/t)

Pt

(g/t)

Rh

(g/t)

Au (g/t)

PGM + Au(g/t)

TYPE

TRC24LU001

45.60

85.20

39.60

3.06

1.93

0.22

0.20

5.41

Ox

TRC24LU007

113.15

165.15

52.00

1.29

0.71

0.17

0.07

2.23

Ox

TRC24LU008

66.60

117.85

51.25

1.72

1.09

0.21

0.10

3.12

Ox

TRC24LU026

187.40

232.50

45.10

0.30

0.76

0.11

0.01

1.18

Ox

TRC24LU027B

0.00

44.00

44.00

1.39

0.63

0.11

0.03

2.14

Ox

TRC24LU028

149.60

203.00

53.40

0.89

0.40

0.05

0.01

1.35

Ox

TRC24LU029

34.70

73.95

39.25

0.65

0.29

0.00

0.01

1.00

Ox

Notes: All 'From', 'To' depths, and 'Thicknesses' are along the topographic surface.              Type: Ox = Oxide. FR = Fresh Rock. Recovery methods and results will differ based on the type of mineralization.

Luanga Trenching Program

Trenching across the strike of the mineralization in the Central Sector (Figure 1) aims to better interpret near surface mineralization, reduce the distance/spacing between assay data points for later resource classification, and define the lateral extent, or dispersion of, surface oxide mineralization. The program continues to be successful, demonstrating that surface enrichment of surface oxide material is not confined to areas of more pronounced topographic relief, like the North Sector of the Luanga Deposit. Initially, the Central Sector, with its flatter terrain, was thought to have less potential for supergene enrichment and/or extensive lateral dispersion due to its lower topographic relief. However, this is now proven not to be the case as results from a further seven adjacent trenches (Figure 1) continue to demonstrate in the core of the Central Sector. Further, the highest grades in the oxides appear to correlate with the up-dip projection of the Main Sulphide Zone (Figure 3).

Recent results continue to confirm the presence of supergene enrichment in the saprolite zone (above the base of oxidation), encountering grades that are generally higher than MRE average grades for oxide mineralization, and higher than grades reported in drilling intersections directly below the trenches (Figure 2). These new trench results support results reported previously for the first seven trenches at the Central Sector (see April 15th 2024). Like previous Central Sector trenching, results again show significantly greater dispersion as compared to the mineralized thicknesses encountered in drilling below the trenches.

Trenches shown in Figure 1 cover the central part of the Central Sector. Trenching continues in the Central Sector, progressing towards the Southwest Sector. Figure 4 shows the location of trenches reported in this press release.

Figure 1: Arial View of Trenching in the Central Sector, with Assay Results (CNW Group/Bravo Mining Corp.)

Figure 2 (Section 1) demonstrates the extent of surface oxide mineralization, in comparison to the thickness of mineralization intersected by drilling in the primary (fresh rock) zone below the trench. This "mushrooming" of oxide mineralization in the supergene zone demonstrates the potential for increased volumes of oxide mineralization as compared to prior estimates, assuming similar cut-off grades.

Trenching is continuing to cover the entire 8.1km strike length of the Luanga deposit, with work close to completion in the Central Sector, which will leave only the Southwest Sector and a small portion of the North Sector to complete the trenching program.

Figure 2: Central Sector (Section 1 on Figure 4) – Trenching showing supergene enrichment and lateral extents to surface mineralization. (CNW Group/Bravo Mining Corp.)

Figure 3 also shows a plan view of trench results reported in this press release, together with their geological mapping and interpretation. This work provides a consistent surface plan of mineralization which, when combined with the drill sections below, creates a far more accurate 3D of both geology and mineralization. This detail is expected to enhance the accuracy and reliability of future MRE's and 3D geological models.

The same sampling, assay laboratory procedures and QAQC protocols as applied to drill core sampling are applied to trench samples.

Figure 3: Trenching in the Central Sector showing supergene enrichment and lateral extents to surface mineralization. (CNW Group/Bravo Mining Corp.)

Drill Results Status Update

A total of 315 drill holes have been completed by Bravo to date, for 67,168 metres, including 8 metallurgical holes (not subject to routine assaying). Results have been reported for 267 Bravo drill holes to date. Assay results for 40 Bravo drill holes that have been completed are currently outstanding (excluding the metallurgical holes).

Complete Table of Recent Intercepts – Trenching

TRENCH-ID

From

(m)

To

(m)

Thickness (m)

Pd

(g/t)

Pt

(g/t)

Rh

(g/t)

Au (g/t)

PGM + Au (g/t)

TYPE

TRC24LU001

45.60

85.20

39.60

3.06

1.93

0.22

0.20

5.41

Ox

122.50

184.80

62.30

0.29

0.48

0.03

0.01

0.81

Ox

TRC24LU007

113.15

165.15

52.00

1.29

0.71

0.17

0.07

2.23

Ox

176.05

247.00

70.95

0.23

0.37

0.04

0.01

0.64

Ox

271.00

284.20

13.20

0.17

0.36

0.01

0.03

0.57

Ox

TRC24LU008

66.60

117.85

51.25

1.72

1.09

0.21

0.10

3.12

Ox

158.00

163.15

5.15

0.12

0.41

0.07

0.00

0.60

Ox

167.15

192.15

25.00

0.16

0.47

0.10

0.01

0.73

Ox

TRC24LU026

13.70

16.70

3.00

0.90

0.36

0.01

0.19

1.46

Ox

187.40

232.50

45.10

0.30

0.76

0.11

0.01

1.18

Ox

TRC24LU027A

16.85

18.85

2.00

1.13

1.14

0.07

0.05

2.39

Ox

31.55

77.65

46.10

0.33

0.15

0.01

0.06

0.54

Ox

TRC24LU027B

0.00

44.00

44.00

1.39

0.63

0.11

0.03

2.14

Ox

59.90

97.90

38.00

0.42

0.31

0.03

0.02

0.77

Ox

TRC24LU028

46.30

62.70

16.40

0.61

0.34

0.00

0.04

1.00

Ox

124.10

136.60

12.50

0.39

0.25

0.04

0.03

0.71

Ox

149.60

203.00

53.40

0.89

0.40

0.05

0.01

1.35

Ox

239.40

321.40

82.00

0.21

0.31

0.01

0.01

0.53

Ox

TRC24LU029

34.70

73.95

39.25

0.65

0.29

0.00

0.01

1.00

Ox

139.15

172.95

33.80

0.64

0.28

0.04

0.02

0.98

Ox

200.15

290.85

90.70

0.33

0.28

0.01

0.01

0.63

Ox

Notes: All 'From', 'To' depths, and 'Thicknesses' are along the topographic surface.              Type: Ox = Oxide. FR = Fresh Rock. Recovery methods and results will differ based on the type of mineralization.

Figure 4: Location of Bravo Trenches and Sections Reported in this News Release (CNW Group/Bravo Mining Corp.)

About Bravo Mining Corp.

Bravo is a Canadian and Brazil-based mineral exploration and development company focused on advancing its Luanga PGM+Au+Ni Project in the world-class Carajás Mineral Province of Brazil. The project is also prospective for copper-gold+/-nickel discoveries, as seen by recent drill intercepts in initial testing of geophysical targets outside of the main Luanga PGM+Au+Ni deposit (see news releases dated May 28, 2024 and June 10, 2024).

The Luanga Project is situated on mature freehold farming land and benefits from being in a location close to operating mines and a mining-experienced workforce, with excellent access and proximity to existing infrastructure, including road, rail, and clean renewable hydro grid power. A fully funded 63,000m infill, step out and exploration drilling and trenching program is well advanced for 2024. Bravo's current Environmental, Social and Governance activities includes planting more than 30,000 high-value trees in the project area and surrounding communities, hiring and contracting locally, and ensuring protection of the environment during its exploration activities.

Technical Disclosure

Technical information in this news release has been reviewed and approved by Simon Mottram, F.AusIMM (Fellow Australia Institute of Mining and Metallurgy), President of Bravo Mining Corp. who serves as the Company's "qualified person" as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). Mr. Mottram has verified the technical data and opinions contained in this news release.

For further information about Bravo, please visit www.bravomining.com or contact:

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

Forward Looking Statements

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "extends", "excellent", "higher", "greater", "increase", "encouraging", "trend", "enrichment", "outperform", "improve", "high-grade", "prospective", "better", "successful", "extensive", "significantly", "greater", "potential", "increased", "enhance", variants of these words and other similar words, phrases, or statements that certain events or conditions "may" or "will" occur. This news release contains forward-looking information pertaining to the Company's ongoing trenching program; the interpretation of the results of trench data, including that the mineralization thickens in the saprolite, is locally supergene enriched, and the impact on future mineral resource estimates thereof; the potential that similar thickening and supergene enrichment may be present along the entire strike length of the Luanga deposit and the impact on mineral resource estimates thereafter; the potential future economics of the saprolite material, including the recoverability of PGMs and Au therein; the results of planned additional trenching; the potential for discoveries of Cu+Au+/-Ni mineralization outside of the main Luanga PGM+Au+Ni deposit, the potential tonnes, grade and commercial viability of such, and the results of continuing exploration of geophysical targets; and the Company's plans in respect thereof. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, unexpected results from exploration programs, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage; and other risks and uncertainties involved in the mineral exploration and development industry. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including, but not limited to, the assumption that the assay results confirm that the interpreted mineralization contains significant values of nickel, PGMs and Au; that the mineralization remains open to depth, that PGM and/or Ni grades and mineralized thicknesses are improving to depth; that final drill and assay results will be in line with management's expectations; that activities will not be adversely disrupted or impeded by regulatory, political, community, economic, environmental and/or healthy and safety risks; that the Luanga Project will not be materially affected by potential supply chain disruptions; and general business and economic conditions will not change in a materially adverse manner. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

Schedule 1: Drill Hole Collar Details

HOLE-ID

Company

East (m)

North (m)

RL (m)

Datum

Depth (m)

Azimuth

Dip

Sector

TRC24LU001

Bravo

659028.185

9341003.328

241.494

SIRGAS2000_UTM_22S

226.80

330.00

0.00

Central

TRC24LU007

Bravo

659143.711

9341000.943

243.001

SIRGAS2000_UTM_22S

284.20

330.00

0.00

Central

TRC24LU008

Bravo

659196.555

9341116.940

227.050

SIRGAS2000_UTM_22S

221.35

330.00

0.00

Central

TRC24LU026

Bravo

658924.640

9340885.370

255.150

SIRGAS2000_UTM_22S

326.90

330.00

0.00

Central

TRC24LU027A

Bravo

658819.286

9340860.187

244.319

SIRGAS2000_UTM_22S

90.75

330.00

0.00

Central

TRC24LU027B

Bravo

658754.052

9340972.798

229.766

SIRGAS2000_UTM_22S

97.90

330.00

0.00

Central

TRC24LU028

Bravo

658757.330

9340779.860

251.650

SIRGAS2000_UTM_22S

332.30

330.00

0.00

Central

TRC24LU029

Bravo

658667.461

9340730.460

262.254

SIRGAS2000_UTM_22S

333.15

330.00

0.00

Central

Schedule 2: Assay Methodologies and QAQC

Samples follow a chain of custody between collection, processing, and delivery to the SGS Geosol laboratory in Parauapebas, state of Pará, Brazil. The drill core is delivered to the core shack at Bravo's Luanga site facilities and processed by geologists who insert certified reference materials, blanks, and duplicates into the sampling sequence. Drill core is half cut and placed in secured polyurethane bags, then in security-sealed sacks before being delivered directly from the Luanga site facilities to the Parauapebas SGS Geosol laboratory by Bravo staff. Additional information about the methodology can be found on the SGS Geosol website (SGS) in their analytical guides. Information regarding preparation and analysis of historic drill core is also presented in the table below, where the information is known.

Quality Assurance and Quality Control ("QAQC") is maintained internally at the lab through rigorous use of internal certified reference materials, blanks, and duplicates. An additional QAQC program is administered by Bravo using certified reference materials, duplicate samples and blank samples that are blindly inserted into the sample batch. If a QAQC sample returns an unacceptable value an investigation into the results is triggered and when deemed necessary, the samples that were tested in the batch with the failed QAQC sample are re-tested.

Bravo SGS Geosol

Preparation

Method

Method

For All Elements

Pt, Pd, Au

Rh

PRPCLI (85% at 200#)

FAI515

FAI30V

Bravo Mining Corp. Logo (CNW Group/Bravo Mining Corp.)

SOURCE Bravo Mining Corp.

Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2024/13/c2580.html

SYDNEY (Reuters) – BHP, Rio Tinto and Qantas will invest a total of A$80 million ($52.7 million) as early-stage investors in an Australian carbon credits fund that aims to invest in land reforestation projects, according to statements from the fund and the companies on Monday.

The fund, managed by Silva Capital – a joint venture between Roc Partners and C6 Investment Management, aims to raise A$250 million to generate and manage Australian Carbon Credit Units (ACCUs) from reforestation initiatives.

ACCUs are issued by the Australian government's $3 billion Emissions Reduction Fund (ERF) to help the country slash its carbon emissions by 43% from 2005 levels by 2030.

The ERF issues credits mostly to projects that avoid deforestation, regenerate native forests or collect methane from landfills. Those projects can sell credits to the government or to companies looking to meet their emissions-cutting targets.

Companies operating in high-emitting industries like mining and aviation are increasingly looking to buy carbon credits as they seek to buy offsets for their emissions.

"This fund represents not only an investment in carbon abatement but a significant milestone in Australia's carbon market, that will, importantly, support the long-term success of our farming communities and nature repair," Raphael Wood, Silva Capital Co-Managing Director, said in a statement.

Silva Capital has plans to invest in farmlands to develop large carbon sequestration projects that promote sustainable agricultural and land management practices, Wood added.

($1 = 1.5193 Australian dollars)

(Reporting by Renju Jose in Sydney; Editing by Himani Sarkar)

Goliath Resources Limited

The Golddigger Project’s Cambria Icefields District Is 36 KM North Of The Surebet Gold Discovery In The Prolific Golden Triangle Of British Columbia

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Newly Discovered Treasure Island 550 x 450 Meters VMS Type Target – Drill Hole Highlights:

An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/5fe254e7-e654-405b-b1b2-6a87d7ec3984

  • A noteworthy 13 out of 19 grab and chip samples (68%) taken on Treasure Island over a wide area assayed >1.00 gpt AuEq.

  • An exceptional 15 out of 16 channel cuts (94%) assayed >1.00 gpt AuEq.

  • The new Treasure Island target demonstrates the excellent untapped potential for additional discoveries across the large Golddigger property, which encompasses 56 km of the “Red Line”, which is the name Goliath Resources uses to describe a key geological contact between two regional stratigraphic packages (read more below – About Golddigger Property).

  • In the Golden Triangle the most important discoveries and mines are on either side of the “Red Line” and within 3 kilometers meters of either side. We consider this a critical exploration vector and the Golddigger project is within the sweet spot of the “Red Line.”

TORONTO, Aug. 12, 2024 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to report the maiden diamond drill program is underway at its newly discovered VMS type targets with high-grade gold-copper at the Treasure Island outcrop.

The first four holes have all hit abundant mineralization up to 9.8 meters containing quartz stockwork and breccia hosting massive chalcopyrite (up to 8%) and pyrite (up to 10%); the zone remains open, and assays are pending. The outcropping mineralized targets remain wide open. Treasure Island is located on the Cambria Icefields at its 100% controlled Golddigger Property 36 km north of the Surebet Discovery, Golden Triangle, British Columbia.

Roger Rosmus, Founder and CEO of Goliath Resources, states: “While most of our drilling is focused on the Surebet gold discovery, part of our plans include regional exploration on other areas of our Golddigger Project (66,608 hectares in size) which was until recently covered by glaciers and permanent snowpack. Our maiden drilling at our Treasure Island target is off to a great start and showing signs that it could be a second important discovery. Our team of geologists and drillers are doing a fantastic job completing drill holes and we are delighted with our early results and look forward to an expanded drill campaign.”

Description Of Maiden Drill Holes At Treasure Island Target

TI-24-01, Pad 1: The 9.8 meter interval of mineralization intersection is from 376.64 to 386.44 meters. Quartz stockwork in mudrocks. Frequent, chaotic quartz wollastonite veins range from <1 – 37cm wide with calc-silicate alteration. That becomes slightly quartz brecciated at 381.21 meters leading towards the main mineralized zone. Brecciated and slightly sheared from 385.5 – 386.44 meters. Vein contacts in the middle of the zone are rubbly and have some gouge. Massive chalcopyrite (8%) and pyrite (10%) from 381.63 – 382.22 meters hosted in chaotic quartz veins and extending to the host rock. 11cm quartz vein at 382.91 meters with massive pyrite. Disseminated and small blebs of chalcopyrite and pyrite throughout, assays are pending.

TI-24-04, Pad 1: The 5.46 meter interval of mineralization is white to dark grey quartz breccia intersected from 48.6 to 54.12 meters. It contains semi-massive to massive pyrite (2%) and trace chalcopyrite (<1%), together with subordinate malachite. Carbonate is a minor phase. Iron oxides present on fracture planes and through the breccia material. It appears very fractured locally. It includes an intermediate dyke crosscut by barren milky white quartz veins from 52.1 to 53 meters, assays are pending.

TI-24-02, Pad 1: The 2.74 meter interval of mineralized quartz-carbonate breccia intersection is from 77.4 to 80.14 meters. Dark grey, quartz carbonate breccia hosted in mudrocks, associated with some wollastonite. Most of the mineralization is observed from 78.63 to 79.59 meters. The rest of the interval shows a lesser degree of brecciation. It appears very fractured at the start of the mineralized interval and includes some gouge. Mineralization consists of blebs of pyrite (2%) and trace chalcopyrite (<1%), assays are pending.

TI-24-03, Pad 1: The 1.77 meter interval of mineralized quartz-carbonate breccia associated with some wollastonite intersection is from 259.86 to 261.63 meters, entraining clasts of both host mudrocks and intermediate dyke. The latter becomes prevalent towards the unit's lower contact, showing weak chlorite alteration. The mineralization consists of small blebs to semi massive pyrite (1%) and minor chalcopyrite (<1%), assays are pending.

The Treasure Island outcropping mineralized target is 36 km north of the Surebet discovery, 6 km to the east of, and on trend with, the Porter Idaho mine and 9 km east of Stewart, British Columbia. The target has recently been exposed as a result of glacial abatement and is being drill tested for the first time during the 2024 field season.

A total 15 out of 16 channel cuts previously reported assayed > 1.00 gpt AuEq, which corresponds to 94% of channel cuts collected on Treasure Island to date. In addition, 13 out of 19 grab and chip samples assayed > 1.00 gpt AuEq, which corresponds to 68 % of chip and grab samples collected on Treasure Island to date. Channel samples collected on Treasure Island assayed up to 28.08 gpt AuEq (20.60 gpt Au, 63.60 gpt Ag and 5.04% Cu) over 0.85 meters; and 3.54 gpt AuEq (0.13 gpt Au, 23.96 gpt Ag and 2.34% Cu). Grab and chip samples collected on Treasure Island assayed up to 11.08 gpt AuEq (0.04 gpt Au, 126.00 gpt Ag and 7.15% Cu); and 8.00 gpt AuEq (5.85gpt Au, 20.70 gpt Ag and 1.43% Cu). See Table 1 and 2 below for complete assay results.

The high-grade gold-copper Treasure Island target consists of new mineralized bedrock outcrops that have been exposed by glacial melt. This newly discovered mineralized area shows multiple shear-hosted, VMS type polymetallic zones over a 550 meter by 450 meter NW-SE trending area that remains open in all directions. Mineralized domains are up to 20 meters wide with sections of massive chalcopyrite and pyrite occupying shears and forming sulphide-rich mineralization at structural intersections and embayment zones within strongly folded and sheared mudstone, siltstone, and tuff units.

Table 1: 2023 grab and chip samples from Treasure Island (previously reported).

Sample ID

Au (gpt)

Ag (gpt)

Cu (%)

Pb (%)

Zn (%)

AuEq (gpt)

ST115881

0.04

126.00

7.15

0.00

0.02

11.08

ST115879

0.04

89.30

5.61

0.00

0.02

8.59

ST116045

5.85

20.70

1.43

0.00

0.00

8.00

ST116174

0.43

66.70

4.85

0.00

0.01

7.70

ST116398

3.72

38.60

1.76

0.00

0.00

6.52

ST116388

0.37

56.80

4.11

0.00

0.00

6.52

ST115874

2.04

47.30

2.73

0.00

0.01

6.24

ST116038

0.34

47.70

2.47

0.00

0.00

4.20

ST116397

0.44

28.10

1.99

0.00

0.01

3.43

ST116399

0.60

25.20

1.58

0.00

0.00

3.00

ST116044

0.02

27.00

1.41

0.00

0.01

2.22

ST113101

0.91

14.15

0.80

0.00

0.00

2.14

ST115884

0.05

6.07

0.81

0.00

0.00

1.20

ST116391

0.03

10.95

0.56

0.00

0.01

0.90

ST115882

0.04

5.46

0.34

0.00

0.01

0.55

ST115872

0.02

5.12

0.29

0.00

0.00

0.47

ST115883

0.28

0.72

0.03

0.00

0.00

0.33

ST115873

0.01

2.56

0.21

0.00

0.00

0.33

ST115885

0.02

0.17

0.00

0.00

0.00

0.03

Table 2: 2023 channel samples from Treasure Island (previously reported).

Channel ID

 

Length (m)

Au (gpt)

Ag (gpt)

Cu (%)

Pb (%)

Zn (%)

AuEq (gpt)

Treasure_RP_2

Interval

2.48

0.13

23.96

2.34

0.00

0.01

3.54

Including

1.44

0.13

37.76

3.97

0.00

0.01

5.87

Including

0.33

0.20

126.00

14.45

0.00

0.02

20.98

GD_CHA_15_JS

Interval

2.20

0.55

14.09

1.25

0.00

0.00

2.39

Including

1.00

0.78

24.30

2.24

0.00

0.00

4.06

GD_CHA_16_JS

Interval

1.50

0.59

17.57

1.51

0.00

0.01

2.83

Including

0.70

1.11

33.10

3.20

0.00

0.02

5.78

NN1

Interval

0.85

20.60

63.60

5.04

0.00

0.01

28.08

NN2

Interval

0.97

4.06

22.20

0.78

0.00

0.01

5.37

NN3

Interval

1.00

0.58

44.40

2.58

0.00

0.01

4.55

GD_CHA_18_JS

Interval

3.65

0.44

8.74

0.50

0.00

0.00

1.22

Including

0.60

1.89

36.80

1.98

0.00

0.00

4.97

GD_CHA_99_JS

Interval

1.05

0.77

28.79

1.84

0.00

0.00

3.57

Including

0.50

0.99

36.80

2.40

0.00

0.00

4.63

Treasure_RP_3

Interval

1.05

0.11

24.73

1.58

0.00

0.01

2.52

Including

0.58

0.12

31.40

2.31

0.00

0.01

3.58

Treasure_RP_1

Interval

1.01

0.11

19.58

1.46

0.00

0.01

2.28

NN5

Interval

1.00

0.37

22.40

1.16

0.00

0.00

2.18

GD_CHA_17_JS

Interval

0.80

0.66

15.60

1.26

0.00

0.00

2.53

NN4

Interval

0.52

3.47

3.12

0.05

0.00

0.00

3.58

Treasure_RP_4

Interval

0.64

0.23

26.70

1.72

0.00

0.00

2.84

Treasure_RP_5

Interval

0.44

0.42

37.00

2.07

0.00

0.01

3.62

Treasure_RP_99

Interval

0.81

0.17

0.44

0.01

0.00

0.01

0.19

Golddigger Property

The Golddigger Property is 100% controlled covering an area of 66,608 hectares (164,592 acres) and is in the world-class geological setting of the Eskay Rift, within 3 kilometers of the Red Line in the Golden Triangle of British Columbia. This area and proximity have hosted some of Canada’s greatest mines that include Eskay Creek, Premier and Snip. Other significant and well known deposits in the Golden Triangle include Brucejack, Copper Canyon, Galore Creek, Granduc, KSM, Red Chris, and Schaft Creek. Goliath controls 56 kilometers of the Red Line which is a geologic contact between Triassic age Stuhini rocks and Jurassic age Hazelton rocks used as key markers when exploring for gold-copper-silver mineralization.

The Surebet discovery has exceptional continuity and excellent metallurgy with gold recoveries of 92.2% inclusive of 48.8% free gold from gravity alone, at a 327-micrometer crush (no deleterious elements and no cyanide required to recover the gold based on metallurgical work completed to date).

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

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

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

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

Qualified Person

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

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

For more information please contact:

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

Other

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

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

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

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

All samples are transported in rice bags sealed with numbered security tags. A transport company takes them from the core shack to the ALS labs facilities in North Vancouver. ALS is either certified to ISO 9001:2008 or accredited to ISO 17025:2005 in all of its locations. At ALS samples were processed, dried, crushed, and pulverized before analysis using the ME-MS61 and Au-SCR21 methods. For the ME-MS61 method, a prepared sample is digested with perchloric, nitric, hydrofluoric, and hydrochloric acids. The residue is topped up with dilute hydrochloric acid and analyzed by inductively coupled plasma atomic emission spectrometry. Overlimits were re-analyzed using the ME-OG62 and Ag-GRA21 methods (gravimetric finish). For Au-SCR21 a large volume of sample is needed (typically 1-3kg). The sample is crushed and screened (usually to -106 micron) to separate coarse gold particles from fine material. After screening, two aliquots of the fine fraction are analysed using the traditional fire assay method. The fine fraction is expected to be reasonably homogenous and well represented by the duplicate analyses. The entire coarse fraction is assayed to determine the contribution of the coarse gold.

Widths are reported in drill core lengths and the true widths are estimated to be 80-90% and AuEq metal values are calculated using: AuEq metal values are calculated using: Au 1924.79 USD/oz, Ag 22.76 USD/oz, Cu 3.75 USD/lbs, Pb 2128.75 USD/ton and Zn 2468.50 USD/ton on December 23, 2023. There is potential for economic recovery of gold, silver, copper, lead, and zinc from these occurrences based on other mining and exploration projects in the same Golden Triangle Mining Camp where Goliath’s project is located such as the Homestake Ridge Gold Project (Auryn Resources Technical Report, Updated Mineral Resource Estimate and Preliminary Economic Assessment on the Homestake Ridge Gold Project, prepared by Minefill Services Inc. Bothell, Washington, dated May 29, 2020). Here, AuEq values were calculated using 3-year running averages for metal price, and included provisions for metallurgical recoveries, treatment charges, refining costs, and transportation. Recoveries for Gold were 85.5%, Silver at 74.6%, Copper at 74.6% and Lead at 45.3%. It will be assumed that Zinc can be recovered with the Copper at the same recovery rate of 74.6%. The quoted reference of metallurgical recoveries is not from Goliath’s Golddigger Project, Surebet Zone mineralization, and there is no guarantee that such recoveries will ever be achieved, unless detailed metallurgical work such as in a Feasibility Study can be eventually completed on the Golddigger Project.

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

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

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

This announcement does not constitute an offer, invitation, or recommendation to subscribe for or purchase any securities and neither this announcement nor anything contained in it shall form the basis of any contract or commitment.  In particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal.

The securities referred to herein have not been and will not be will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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

It is hard to get excited after looking at Freeport-McMoRan's (NYSE:FCX) recent performance, when its stock has declined 20% over the past month. However, a closer look at its sound financials might cause you to think again. Given that fundamentals usually drive long-term market outcomes, the company is worth looking at. Particularly, we will be paying attention to Freeport-McMoRan's ROE today.

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

Check out our latest analysis for Freeport-McMoRan

How Is ROE Calculated?

ROE can be calculated by using the formula:

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

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

15% = US$4.4b ÷ US$29b (Based on the trailing twelve months to June 2024).

The 'return' is the amount earned after tax over the last twelve months. That means that for every $1 worth of shareholders' equity, the company generated $0.15 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. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. Assuming all else is equal, companies that have both a higher return on equity and higher profit retention are usually the ones that have a higher growth rate when compared to companies that don't have the same features.

A Side By Side comparison of Freeport-McMoRan's Earnings Growth And 15% ROE

To start with, Freeport-McMoRan's ROE looks acceptable. On comparing with the average industry ROE of 9.4% the company's ROE looks pretty remarkable. This probably laid the ground for Freeport-McMoRan's significant 27% net income growth seen over the past five years. We reckon that there could also be other factors at play here. Such as – high earnings retention or an efficient management in place.

We then performed a comparison between Freeport-McMoRan's net income growth with the industry, which revealed that the company's growth is similar to the average industry growth of 27% in the same 5-year period.

past-earnings-growth

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

Is Freeport-McMoRan Efficiently Re-investing Its Profits?

Freeport-McMoRan's ' three-year median payout ratio is on the lower side at 25% implying that it is retaining a higher percentage (75%) of its profits. So it looks like Freeport-McMoRan is reinvesting profits heavily to grow its business, which shows in its earnings growth.

Besides, Freeport-McMoRan has been paying dividends for at least ten years or more. This shows that the company is committed to sharing profits with its shareholders. Based on the latest analysts' estimates, we found that the company's future payout ratio over the next three years is expected to hold steady at 24%. As a result, Freeport-McMoRan's ROE is not expected to change by much either, which we inferred from the analyst estimate of 16% for future ROE.

Summary

On the whole, we feel that Freeport-McMoRan's performance has been quite good. Specifically, we like that the company is reinvesting a huge chunk of its profits at a high rate of return. This of course has caused the company to see substantial growth in its earnings. That being so, a study of the latest analyst forecasts show that the company is expected to see a slowdown in its future earnings growth. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.

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.

Lundin Mining Corporation (TSE:LUN) shareholders (or potential shareholders) will be happy to see that the Chairman of the Board, Adam Lundin, recently bought a whopping CA$993k worth of stock, at a price of CA$13.23. Not only is that a big swing, but it increased their holding size by 11%, which is definitely great to see.

View our latest analysis for Lundin Mining

The Last 12 Months Of Insider Transactions At Lundin Mining

In fact, the recent purchase by Adam Lundin was the biggest purchase of Lundin Mining shares made by an insider individual in the last twelve months, according to our records. That means that an insider was happy to buy shares at above the current price of CA$12.47. It's very possible they regret the purchase, but it's more likely they are bullish about the company. We always take careful note of the price insiders pay when purchasing shares. Generally speaking, it catches our eye when insiders have purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price.

In the last twelve months insiders purchased 149.00k shares for CA$2.0m. On the other hand they divested 77.25k shares, for CA$765k. In total, Lundin Mining insiders bought more than they sold over the last year. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!

insider-trading-volume

Lundin Mining is not the only stock that insiders are buying. For those who like to find small cap companies at attractive valuations, this free list of growing companies with recent insider purchasing, could be just the ticket.

Insider Ownership Of Lundin Mining

Many investors like to check how much of a company is owned by insiders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. It appears that Lundin Mining insiders own 0.3% of the company, worth about CA$28m. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.

So What Do The Lundin Mining Insider Transactions Indicate?

The recent insider purchases are heartening. And the longer term insider transactions also give us confidence. Insiders likely see value in Lundin Mining shares, given these transactions (along with notable insider ownership of the company). While it's good to be aware of what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. You'd be interested to know, that we found 2 warning signs for Lundin Mining and we suggest you have a look.

Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.

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

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.

Wheaton Precious Metals Corp. WPM reported adjusted earnings per share of 33 cents in second-quarter 2024, which surpassed the Zacks Consensus Estimate of 29 cents. The bottom line improved 4.8% year over year. Wheaton generated revenues of around $299 million, which improved 12.9% on a year-over-year basis. The upside was caused by an 18% increase in average realized price, which was partially negated by a 4% decline in gold equivalent ounces (GEOs) sold. The top line beat the Zacks Consensus Estimate of $292 million.

Wheaton Precious Metals Corp. Price, Consensus and EPS SurpriseWheaton Precious Metals Corp. Price, Consensus and EPS Surprise

Wheaton Precious Metals Corp. price-consensus-eps-surprise-chart | Wheaton Precious Metals Corp. Quote

Wheaton’s gold production was 84,993 ounces, up from the prior-year quarter’s 83,180 ounces. Attributable silver production increased 14% year over year to 5,062 ounces and palladium production increased 11.8% to 4,338 ounces. The company produced 147,059 GEOs in the June-end quarter, up 7.2% from the prior-year quarter’s 137,176 GEOs.Wheaton sold 124,009 GEOs, down 4.4% from the last year’s quarter.

Prices

In the second quarter, the average realized gold price was $2,356 per ounce. The figure was 18.6% higher than the year-ago quarter. Silver prices were $29.11 per ounce, up 20.6% year over year. Palladium prices were $979 per ounce compared with $1,438 per ounce in the prior-year quarter. Cobalt prices improved 21.1% year over year to $16.02 per pound.

Financial Position

The company had around $540 million of cash in hand at the end of the second quarter of 2024 compared with $547 million at the end of 2023. It reported an operating cash flow of $234 million compared with $202 million in the prior-year quarter. The company has a $2 billion undrawn revolving credit facility.  The maturity date has been extended to Jun 25, 2029.

2024 Guidance

Wheaton projects attributable production to be between 550,000 GEOs and 620,000 GEOs. Notably, it produced 584,389 GEOs in 2023. Gold production is expected to be in the range of 325,000-370,000 ounces, indicating a slight decline from the 374,585 produced in 2023. Silver production is projected between 18.5 million and 20.5 million ounces, indicating growth from 17.2 million ounces in the prior year. The production of other metals is anticipated to be in the range of 12,000-15,000 GEOs. WPM produced 12,275 GEOs of other metals in 2023.

Price Performance

Shares of Wheaton have gained 24.5% in the past year against the industry’s 4% decline.

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Image Source: Zacks Investment Research

Zacks Rank

Wheaton currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Peer Performances

Teck Resources TECK reported second-quarter 2024 adjusted earnings per share of 58 cents, which surpassed the Zacks Consensus Estimate of 47 cents by a margin of 23%. The bottom line marked a 37% plunge from earnings of 91 cents per share reported in the year-ago quarter.Net sales of TECK amounted to around $2.83 billion, an 8% increase from $2.62 billion in the year-ago quarter. The top line, however, missed the Zacks Consensus Estimate of $2.92 billion.Reliance, Inc. RS recorded earnings of $4.65 per share. It lagged the Zacks Consensus Estimate of $4.73. RS recorded net sales of $3,643.3 million, down around 6.1% year over year. The top line beat the consensus estimate of $3,603.9 million.Cleveland-Cliffs Inc.’s CLF second-quarter adjusted earnings were 11 cents per share, down from 69 cents in the prior-year quarter. The Zacks Consensus Estimate was pegged at break-even. Revenues of CLF fell 14.9% to $5,092 million. The top line missed the consensus estimate of $5,199.9 million.

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Canada Carbon Inc.

Toronto, ON, Canada, Aug. 09, 2024 (GLOBE NEWSWIRE) — Canada Carbon Inc. (the “Company”) (TSX-V:CCB), (FF:U7N1) reports that it has completed the first phase of a Bulk Sample Program for its 100% owned Asbury Graphite Project located 80 kilometers (“km”) NNE of Gatineau, near Notre-Dame-du-Laus, Québec. Working with SGS Lakefield, the Company completed work in the following critical areas:

  • Head assays

  • Bond Ball Work Index Analysis

  • Two Flotation Tests (F01 and F02)

Head AssaysThree samples were received: BK1 – high grade drill core, BK2 – low grade drill core, and BK3 – outcrop. These samples were prepared for testing, and a composite of the two drill core samples (BK1 and BK2) was prepared and named Core Comp.

Carbon speciation analyses of these samples shows total carbon ranging from 1.71% to 7.60% from low to high grade drill core, and a very high carbon total concentration of 18.5% in the outcrop sample. In all samples, carbon occurs as both graphitic carbon (C(g)) as well as in carbonate (CO3) minerals. In this flotation program, CCB will evaluate the recovery of graphitic carbon as opposed to total carbon. Any carbonate concentration is expected to be flushed to our tailings products.

Bond Ball Work Index AnalysisBond Ball Work Index testing was conducted on the three samples, BK1, BK2 and BK3 which produced similar work indices ranging from 14.1 (BK2) to 14.6 (BK1). In comparison with SGS’s database of thousands of ore types, shown in the graph below, the Asbury samples fall in the median range of hardness percentile, ranging from 47.4% to 53.3%.

Rougher Floatation TestsTwo rougher flotation tests were conducted on the low grade BK2 composite.

  • F01 applied an MF2 style flowsheet, where a flash flotation stage was conducted on the crushed ore producing flash rougher concentrates. The flash rougher tailings were ground and a rougher concentrate produced.

  • F02 applied a traditional flowsheet where the crushed ore was ground in its entirety and rougher concentrates were collected.

Results were promising even with the low-grade sample, with 92.4% and 92.3% graphitic carbon recovery in F01 and F02, respectively. In particular, the F01 first flash concentrate gave a very high grade of 70.3% C(t) at 57.3% recovery of graphitic carbon. The benefits of the MF2 flowsheet are a reduction in required grinding power as well as the potential for preservation of coarse-flake graphite by not grinding the entire sample.

The next step will be to optimize the MF2 flowsheet using the Core Composite. The Company and SGS aim to complete the Bulk Sample Analysis within the next six weeks followed by extensive lab testing of Asbury concentrate for a variety of industry verticals.

"We are very excited about the phase 1 results of our Bulk Sample Program currently underway with SGS. These results, along with the ongoing geotechnical work on Asbury will continue to confirm what we firmly believe: Asbury is a large, high-quality deposit with the ability to provide premium graphite concentrate for use in a significant number of high margin applications, including the battery anode space." declared Ellerton Castor, CEO of Canada Carbon.

Asbury Project OverviewThe 100%-owned Asbury Graphite Project is a past producing property made up of 25 claims with a total surface area of 1,384.59 ha. It is located 8.1 km northeast of Notre-Dame-Du-Laus in the Laurentides Region of southern Quebec. The property is accessible via gravel roads from Provincial Road 309 and Chemin du Ruisseau Serpent in the Notre-Dame-du-Laus area. A power transmission line runs through the property. Mont-Laurier, located approximately 44 km north, provides all amenities needed to perform basic mineral exploration, such as a hospital, accommodations, restaurants, groceries and other primary services. Additional amenities for exploration, and a seasoned mining and exploration workforce, are available from nearby towns of Gatineau to the south.

CANADA CARBON INC.“Ellerton Castor”Chief Executive Officer and DirectorContact InformationE-mail inquiries: info@canadacarbon.com P: (905) 407-1212

FORWARD LOOKING INFORMATION 

This press release contains statements that constitute “forward-looking information” (“forward-looking information”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this press release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such  words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. Forward-looking information in this press release includes statements regarding the development of the Company’s Asbury deposit and financing thereof, the entering of the joint venture with Irondequoit Offering, future production from the Company’s Asbury deposit, sales agreements and other matters related thereto. In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include but are not limited to: compliance with extensive government regulations; financial abilities; the ability to develop the Asbury deposit; domestic and foreign laws and regulations adversely affecting the Company’s business and results of operations; the impact of COVID-19; and general business, economic, competitive, political, and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.

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

In the latest market close, Harmony Gold (HMY) reached $9.48, with a +0.48% movement compared to the previous day. The stock's change was more than the S&P 500's daily gain of 0.47%. Elsewhere, the Dow gained 0.13%, while the tech-heavy Nasdaq added 0.51%.

Prior to today's trading, shares of the gold miner had lost 5.79% over the past month. This has lagged the Basic Materials sector's loss of 3.94% and the S&P 500's loss of 4.45% in that time.

Investors will be eagerly watching for the performance of Harmony Gold in its upcoming earnings disclosure.

For the full year, the Zacks Consensus Estimates project earnings of $1.20 per share and a revenue of $3.7 billion, demonstrating changes of +166.67% and +33.15%, respectively, from the preceding year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Harmony Gold. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, Harmony Gold boasts a Zacks Rank of #5 (Strong Sell).

Investors should also note Harmony Gold's current valuation metrics, including its Forward P/E ratio of 7.86. This denotes a discount relative to the industry's average Forward P/E of 15.

The Mining – Gold industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 58, this industry ranks in the top 23% of all industries, numbering over 250.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow HMY in the coming trading sessions, be sure to utilize Zacks.com.

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The market for FMC Corporation's (NYSE:FMC) stock was strong after it released a healthy earnings report last week. However, we think that shareholders should be cautious as we found some worrying factors underlying the profit.

See our latest analysis for FMC

earnings-and-revenue-historyHow Do Unusual Items Influence Profit?

To properly understand FMC's profit results, we need to consider the US$182m expense attributed to unusual items. While deductions due to unusual items are disappointing in the first instance, there is a silver lining. We looked at thousands of listed companies and found that unusual items are very often one-off in nature. And, after all, that's exactly what the accounting terminology implies. If FMC doesn't see those unusual expenses repeat, then all else being equal we'd expect its profit to increase over the coming year.

That might leave you wondering what analysts are forecasting in terms of future profitability. Luckily, you can click here to see an interactive graph depicting future profitability, based on their estimates.

An Unusual Tax Situation

Having already discussed the impact of the unusual items, we should also note that FMC received a tax benefit of US$1.5b. It's always a bit noteworthy when a company is paid by the tax man, rather than paying the tax man. The receipt of a tax benefit is obviously a good thing, on its own. However, the devil in the detail is that these kind of benefits only impact in the year they are booked, and are often one-off in nature. Assuming the tax benefit is not repeated every year, we could see its profitability drop noticeably, all else being equal. So while we think it's great to receive a tax benefit, it does tend to imply an increased risk that the statutory profit overstates the sustainable earnings power of the business.

Our Take On FMC's Profit Performance

In the last year FMC received a tax benefit, which boosted its profit in a way that might not be much more sustainable than turning prime farmland into gas fields. Having said that, it also had a unusual item reducing its profit. Based on these factors, we think it's very unlikely that FMC's statutory profits make it seem much weaker than it is. In light of this, if you'd like to do more analysis on the company, it's vital to be informed of the risks involved. Every company has risks, and we've spotted 3 warning signs for FMC (of which 2 shouldn't be ignored!) you should know about.

In this article we've looked at a number of factors that can impair the utility of profit numbers, as a guide to a business. But there are plenty of other ways to inform your opinion of a company. For example, many people consider a high return on equity as an indication of favorable business economics, while others like to 'follow the money' and search out stocks that insiders are buying. While it might take a little research on your behalf, you may find this free collection of companies boasting high return on equity, or this list of stocks with significant insider holdings to be useful.

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.

(Bloomberg) — BHP Group Ltd., the world’s No. 1 miner, is planning to sell Brazilian copper and gold assets it acquired with the takeover of Oz Minerals Ltd., according to people familiar with the matter.

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The company’s acquisition of Oz Minerals in May 2023 was its biggest deal in more than a decade and included buying an untapped gold deposit and four small, but high-grade, copper-gold mines in the Brazilian state of Para.

BHP has engaged Banco Santander SA to advise in talks for a potential sale after it completed a strategic review of such assets, said the people, who asked not to be identified discussing private details.

Spokespeople for BHP and Santander declined to comment for this story.

BHP has been focused on creating a copper hub in South Australia, while consolidating its position as one of the world’s largest producers of the metal. The Oz Minerals purchase was part of a strategy to boost exposure to key materials used in clean energy and electric cars.

Last week, BHP swooped to buy Filo Corp., teaming up with Lundin Mining Corp. in a $3 billion deal to gain South American copper assets. In May, it abandoned a $49 billion takeover bid for Anglo American Plc, which would have boosted its production of the metal at a time when miners and their investors are positioning for a prolonged period of tight supply and rising prices.

BHP’s Brazil country manager told Bloomberg last year the company had no intention of getting rid of Samarco Mineracao SA, the iron-ore producer it jointly owns with Vale SA.

Shares of BHP fell 1.4% at 10:08 a.m. Sydney time to A$40.46 apiece.

–With assistance from Mariana Durao and Thomas Biesheuvel.

(Updates with Brazilian assets in 2nd paragraph, M&A bids in 6th.)

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Goliath Resources Limited

TORONTO, Aug. 08, 2024 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to report it has received a lead order from its strategic investor, Crescat Capital LLC, the Company’s single largest shareholder. Goliath intends to raise up to $3,000,000 through a non-brokered private placement.

Based on exceptional assay results and the abundance of visible gold in a majority of the holes drilled thus far, the Company will be expanding the drill program at the Surebet Discovery.

100% of the first 8 holes drilled to date during the 2024 drill season have intercepted continuous strong mineralization in the targeted veins. Including mineralization that suggests the drilling has tapped into the heat engine source of the gold mineralizing system at the Surebet Discovery. Abundant visible gold up to 1.30 mm in size has been identified in multiple intervals in 6 out of the first 8 holes of 2024, corresponding to 75% of the holes drilled thus far. A majority of the gold seen is hosted further downhole within the volcanics above the valley floor, and gold mineralization remains open in all directions for further new discoveries.

Goliath’s largest shareholder, Crescat Capital, who currently owns ~18% (P/D) of the issued and outstanding common shares of the Company, will be participating in this placement pursuant to a pre-emptive right granted to them by the Goliath.

Goliath intends to raise up to $3,000,000 through a non-brokered private placement in a combination of: (i) Non-Flow-Through shares (NFT) to be sold at a price of $1.11 each and Flow-Through shares (FT) to be 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 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 may pay finders' fees composed of cash and warrants on certain 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 Crescat Capital LLC

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 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 30 years of exploration experience with major gold mining firms that include Homestake Mining, Newcrest Mining and Newmont Mining. Recently, Dr. Hennigh founded Novo Resources Corp., and is currently serving as Co-Chairman. 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, and Lion One’s Tuvatu gold project on Fiji, among many others.

Golddigger Property

The Golddigger Property is 100% controlled covering an area of 66,608 hectares (164,592 acres) and is in the world class geological setting of the Eskay Rift, within 3 kilometers of the Red Line in the Golden Triangle of British Columbia. This area has hosted some of Canada’s greatest mines that include Eskay Creek, Premier and Snip. Other significant and well known deposits in the Golden Triangle include Brucejack, Copper Canyon, Galore Creek, Granduc, KSM, Red Chris, and Schaft Creek. Goliath controls 56 kilometers of the Red Line which is a geologic contact between Triassic age Stuhini rocks and Jurassic age Hazelton rocks used as key markers when exploring for gold-copper-silver mineralization.

The Surebet discovery has exceptional continuity and excellent metallurgy with gold recoveries of 92.2% including 48.8% free gold from gravity alone, at a 327-micrometer crush (no deleterious elements and no cyanide required to recover the gold based on metallurgical work completed to date).

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

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

Consulting Advisory Agreement

The Corporation is pleased to announce it has entered into a consulting agreement dated August 8, 2024 (the “Consulting Agreement”) with Mezzo Consulting Services S.A. (the “Consultant”) for the provision of advisory services relating to prospective mergers and acquisitions, fundraising opportunities in Europe and local business practices, culture and customs (collectively, the “Services”). The Consulting Agreement shall have an initial term of 24 months, after which it shall renew for one month terms on the first day of each calendar month until terminated by either the Corporation or the Consultant.

As compensation for the provision of the Services, the Corporation has agreed to issue the Consultant, on a one time basis, an aggregate of 240,000 restricted share units of the Corporation (“RSUs”) pursuant to the Corporation’s Omnibus Equity Incentive Plan (the “Omnibus Plan”). The RSUs shall vest one year following their issuance and shall otherwise be governed by the terms of the Omnibus Plan. The issuance of the RSUs remains subject to the prior approval of the TSX Venture Exchange.

Qualified Person

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

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 and Mr. Eric Sprott.

For more information please contact:

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

Other

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

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

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

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

All samples are transported in rice bags sealed with numbered security tags. A transport company takes them from the core shack to the ALS labs facilities in North Vancouver. ALS is either certified to ISO 9001:2008 or accredited to ISO 17025:2005 in all of its locations. At ALS samples were processed, dried, crushed, and pulverized before analysis using the ME-MS61 and Au-SCR21 methods. For the ME-MS61 method, a prepared sample is digested with perchloric, nitric, hydrofluoric, and hydrochloric acids. The residue is topped up with dilute hydrochloric acid and analyzed by inductively coupled plasma atomic emission spectrometry. Overlimits were re-analyzed using the ME-OG62 and Ag-GRA21 methods (gravimetric finish). For Au-SCR21 a large volume of sample is needed (typically 1-3kg). The sample is crushed and screened (usually to -106 micron) to separate coarse gold particles from fine material. After screening, two aliquots of the fine fraction are analysed using the traditional fire assay method. The fine fraction is expected to be reasonably homogenous and well represented by the duplicate analyses. The entire coarse fraction is assayed to determine the contribution of the coarse gold.

Widths are reported in drill core lengths and the true widths are estimated to be 80-90% and AuEq metal values are calculated using: AuEq metal values are calculated using: Au 1924.79 USD/oz, Ag 22.76 USD/oz, Cu 3.75 USD/lbs, Pb 2128.75 USD/ton and Zn 2468.50 USD/ton on December 23, 2023. There is potential for economic recovery of gold, silver, copper, lead, and zinc from these occurrences based on other mining and exploration projects in the same Golden Triangle Mining Camp where Goliath’s project is located such as the Homestake Ridge Gold Project (Auryn Resources Technical Report, Updated Mineral Resource Estimate and Preliminary Economic Assessment on the Homestake Ridge Gold Project, prepared by Minefill Services Inc. Bothell, Washington, dated May 29, 2020). Here, AuEq values were calculated using 3-year running averages for metal price, and included provisions for metallurgical recoveries, treatment charges, refining costs, and transportation. Recoveries for Gold were 85.5%, Silver at 74.6%, Copper at 74.6% and Lead at 45.3%. It will be assumed that Zinc can be recovered with the Copper at the same recovery rate of 74.6%. The quoted reference of metallurgical recoveries is not from Goliath’s Golddigger Project, Surebet Zone mineralization, and there is no guarantee that such recoveries will ever be achieved, unless detailed metallurgical work such as in a Feasibility Study can be eventually completed on the Golddigger Project.

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

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

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

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

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

Looking at RBR Group's (ASX:RBR) mostly flat share price movement over the past week, it is easy to think that there’s nothing interesting about the stock. However, its fundamentals look pretty strong which means that its price could rise in the future as markets usually follow the long-term financial performance of a business. In this article, we decided to focus on RBR Group's ROE.

Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors’ money. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.

View our latest analysis for RBR Group

How Is ROE Calculated?

The formula for ROE is:

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

So, based on the above formula, the ROE for RBR Group is:

53% = AU$1.5m ÷ AU$2.9m (Based on the trailing twelve months to December 2023).

The 'return' is the profit over the last twelve months. That means that for every A$1 worth of shareholders' equity, the company generated A$0.53 in profit.

What Is The Relationship Between ROE And Earnings Growth?

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

RBR Group's Earnings Growth And 53% ROE

To begin with, RBR Group has a pretty high ROE which is interesting. Secondly, even when compared to the industry average of 11% the company's ROE is quite impressive. This likely paved the way for the modest 19% net income growth seen by RBR Group over the past five years.

We then performed a comparison between RBR Group's net income growth with the industry, which revealed that the company's growth is similar to the average industry growth of 21% in the same 5-year period.

past-earnings-growth

The basis for attaching value to a company is, to a great extent, tied to its earnings growth. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. Is RBR Group fairly valued compared to other companies? These 3 valuation measures might help you decide.

Is RBR Group Making Efficient Use Of Its Profits?

Given that RBR Group doesn't pay any regular dividends to its shareholders, we infer that the company has been reinvesting all of its profits to grow its business.

Conclusion

On the whole, we feel that RBR Group's performance has been quite good. Particularly, we like that the company is reinvesting heavily into its business, and at a high rate of return. Unsurprisingly, this has led to an impressive earnings growth. If the company continues to grow its earnings the way it has, that could have a positive impact on its share price given how earnings per share influence long-term share prices. Remember, the price of a stock is also dependent on the perceived risk. Therefore investors must keep themselves informed about the risks involved before investing in any company. You can see the 3 risks we have identified for RBR Group by visiting our risks dashboard for free on our platform here.

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.

VANCOUVER, BC, Aug. 8, 2024 /CNW/ – Rokmaster Resources Corp. (TSXV: RKR) (OTCQB: RKMSF) (FSE: 1RR1) ("Rokmaster" or "the Company") is pleased to announce assay results from spring 2024 field work completed on the  Mystery Property.

The road accessible Mystery Property is one component of Rokmaster's Nechako Project which is targeting significant copper-molybdenum-gold porphyry deposits and high grade gold-silver epithermal mineralization in west-central British Columbia. The region is host to excellent infrastructure and multiple active exploration programs, noted in Figure 1.

The 12,193 hectare Mystery Property is situated over the Shelford Hills, a circular uplifted volcanic block exposing Cretaceous Kasalka Group volcanic rocks intruded by a stock of porphyritic monzonite belonging to the Late Cretaceous Bulkley Plutonic Suite (Figure 2). The Bulkley Plutonic Suite hosts the calc-alkalic porphyry Cu-Mo mineralization at the nearby Huckleberry, Ox, and Seel deposits.

Samples were collected from the Mystery Property during two field work programs in May and June of 2024. Quartz vein breccia was discovered approximately 900 m south of the Breccia Zone and returned up to 5.22[1] g/t Au and 388 g/t Ag in grab samples. This discovery of epithermal quartz veins hosting gold and silver mineralization is highly positive when targeting a porphyry environment and adds to the widespread occurrences of anomalous copper, gold, molybdenum across the Mystery Property.

Soil sampling work in 2024 confirmed the 900×700 meter north-central copper in soil anomaly and extended it to the north by 300 m. Crews observed that nearly the entirety of the Mystery Property was recently burned by a large forest fire, providing for a significant access and outcrop exposure advantage over previous operators such as Kennco, BP-Selco, Canamax, and Noranda (Figure 3).

John Mirko, President and CEO, comments:

"These early-stage results from the Mystery Property are encouraging especially when considering they were generated during two limited initial field work programs completed in the spring. The confirmation and extension of the central soil anomaly is in an area which was held by private interests for many years, including those when the Property was heavily vegetated. The discovery of high grade gold and silver mineralization south of the Breccia Zone is a testament to the underexplored nature of the Mystery Property and we are excited to return for more investigation. "

1 Samples were prepared and analyzed by Bureau Veritas Commodities Canada Ltd (BV) in Vancouver BC. After preparation, samples were analyzed for 37 elements including Au by aqua regia digestion of a 15 g sample with ICP-ES/MS finish (BV method AQ201). Samples >25 g/t Ag and >10,000 ppm Pb were re-analyzed by an ore grade aqua regia digestion method with an ICP-ES finish (BV method AR374).

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 and reviewed and approved by Eric Titley, P.Geo., who is independent of Rokmaster and who acts as Rokmaster's Qualified Person.

On Behalf of the Board of Directors of

Rokmaster Resources Corp.

John Mirko,President & Chief Executive Officer.

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

CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS: This news release may contain forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," 'projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from Rokmaster's operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future vents or results or otherwise.

 

Figure 2 (CNW Group/Rokmaster Resources Corp.)Figure 3 (CNW Group/Rokmaster Resources Corp.)Rokmaster Resources Corp. logo (CNW Group/Rokmaster Resources Corp.)

SOURCE Rokmaster Resources Corp.

Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2024/08/c7433.html

(Reuters) – BHP Group, the world's top miner, is mulling a sale of Brazilian copper and gold assets it took over as part of the buyout of smaller peer Oz Minerals, Bloomberg News reported on Wednesday, according to people familiar with the matter.

BHP, which recently abandoned plans to buy out British multinational miner Anglo American, has engaged Spanish financial services firm Banco Santander S.A. for advice in talks for the potential sale, the report said.

BHP and Santander did not immediately respond to Reuters requests for comment.

Bloomberg had earlier reported that BHP's Brazil manager had told them that the miner had no intention to get rid of Samarco Mineracao SA, an iron ore producer it jointly owns with Vale.

BHP took over Oz Minerals in May 2023 for A$9.6 billion ($6.27 billion) in a bid to gain larger access to materials key for the green energy transition and to make electric vehicles.

($1 = 1.5300 Australian dollars)

(Reporting by Rishav Chatterjee in Bengaluru; Editing by Shailesh Kuber)

North America is at a critical junction in securing its supply of critical minerals, particularly lithium, which is essential for various industries including technology, energy, and defense.

The lack of domestic production poses a significant security problem, as the continent is heavily reliant on imports.

The demand for lithium is expected to grow exponentially in the coming years, driven by the increasing adoption of electric vehicles (EVs) and the need for energy storage solutions.

To address this challenge, several companies are actively exploring and developing lithium projects in North America.

10 Companies Looking to Capitalize on the Global Lithium Boom

  • BHP Group (NYSE:BHP) a global mining giant, has a diversified portfolio of mining assets, including significant lithium operations. The company's commitment to sustainable and responsible mining practices is evident in its various initiatives to reduce environmental impact and work closely with local communities.

  • Lithium Americas (NYSE:LAC) is a major player in the global lithium market, with promising projects in development, including the Thacker Pass lithium mine in Nevada, one of the largest known lithium deposits in the world. The company is well-positioned to benefit from the growing demand for lithium and could be a major supplier to the EV industry.

  • Albemarle Corporation (NYSE:ALB), the world's largest producer of lithium, is investing heavily in expanding its production capacity. The company's recent announcement of a $500 million investment in a new lithium hydroxide plant in North Carolina highlights its commitment to meeting the increasing demand for lithium-ion batteries.

  • Piedmont Lithium Limited (NASDAQ:PLL), an Australian lithium mining company, is focused on developing its flagship asset, the Piedmont Lithium Project in North Carolina. The project is expected to produce a significant amount of lithium hydroxide per year, contributing to the domestic supply of this critical mineral.

  • MP Materials Corp. (NYSE:MP) is a leading supplier of rare earth materials, including lithium, to the global technology industry. The company's Mountain Pass mine in California is the only fully integrated rare earth mining and processing facility in the United States, giving it a significant competitive advantage.

  • Rare Element Resources Ltd. (TSX:RES) is a Canadian exploration and development company focused on rare earth elements (REEs), including lithium. The company's flagship project, the Bear Lodge project in Wyoming, contains one of the largest undeveloped REE deposits in the world and has the potential to produce a variety of REEs, including lithium.

  • Avalon Advanced Materials Inc. (TSX:AVL) is a Canadian company specializing in functional materials and specialty chemicals. The company is actively involved in the development of materials for lithium-ion batteries and solid-state batteries, contributing to the advancement of energy storage solutions.

  • First Quantum Minerals Ltd (TSX:FM) is a Canadian-based mining and metals company with a focus on copper, nickel, gold, and zinc production. While not directly involved in lithium production, the company's operations contribute to the overall mining industry and economic development in various countries.

  • Allkem Limited (TSX:AKE), an Australian mining company, is a significant player in the lithium market, with operations spanning the entire lithium value chain. The company's projects in Australia, Argentina, and Canada are expected to contribute significantly to the global supply of lithium.

  • Teck Resources Limited (TSX:TECK) is a diversified mining company and one of the world's largest producers of zinc and copper. The company's zinc production is essential for the growing demand for batteries in electric vehicles and other applications.

    • These companies, along with many others, are working diligently to secure a stable and sustainable supply of lithium in North America. As the demand for lithium continues to rise, their efforts will be crucial in meeting the needs of various industries and supporting the transition to a clean energy future.

    By Michael Kern for Oilprice.com

     

    Read this article on OilPrice.com

    /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES/

    VANCOUVER, BC, Aug. 7, 2024 /CNW/ – Filo Corp. (TSX: FIL) (Nasdaq First North Growth Market: FIL) (OTCQX: FLMMF) ("Filo" or the "Company") is pleased to announce that it has closed its previously announced private placement of 3,484,848 common shares in the capital of the Company (the "Filo Shares") issued at a price of C$33.00 per share for gross proceeds of C$114,999,984.00 (the "Private Placement"). The Private Placement was made pursuant to subscription agreements entered into between Filo and each of BHP ("BHP") and Lundin Mining Corporation (TSX: LUN) (Nasdaq Stockholm: LUMI) ("Lundin Mining", and together with BHP, the "Purchaser Parties"). Upon completion of the Private Placement, each of BHP's and Lundin's equity interest in the Company has increased by approximately 1.3%, resulting in each of them now owning, directly or indirectly, approximately 7.1% and 1.7%, respectively, and the Company now has 134,685,648 Filo Shares issued and outstanding. The Private Placement entails a dilution of approximately 2.6% of the number of shares and votes in the Company (calculated as the number of newly issued Filo Shares divided by the total number of Filo Shares after the Private Placement). PDF Version

    The Private Placement was previously announced concurrently with Filo announcing that it had entered into a binding arrangement agreement with the Purchaser Parties whereby the Purchaser Parties will acquire all of the outstanding Filo Shares that they do not already own (the "Transaction").

    The net proceeds of the Private Placement will be used for exploration of the Filo del Sol project, general working capital expenses and general and administration expenses for the period between announcement and closing of the Transaction, in accordance with Filo's budget.

    The Filo Shares issued under the Private Placement to the Purchaser Parties will be subject to a hold period expiring on December 8, 2024. The Private Placement remains subject to the final approval of the Toronto Stock Exchange.

    About Filo Corp.

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

    Additional Information

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

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

    The information was submitted for publication by the contact persons below on August 7, 2024 at 09:45 am EDT.

    Follow Us 

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

    CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

    This press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking information") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein may be forward-looking statements, including, without limitation, statements relating to the consummation and timing of the Transaction; the anticipated use of proceeds of the Private Placement; and discussion of future plans, projects, objectives, estimates and forecasts and the timing related to the Transaction.  Forward-looking information is frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. These forward-looking statements may also include statements regarding perceived merit of properties; exploration plans and budgets; mineral reserves and resource estimates; work programs; capital expenditures; timelines; strategic plans; market prices for precious and base metals; or other statements that are not statements of fact. In addition, statements relating to "mineral resources" and "mineral reserves" are deemed to be forward-looking information, as they involve the implied assessment, based on certain estimates and assumptions that the mineral resources and mineral reserves described can be profitably produced in the future.

    Forward-looking information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Important factors that could cause actual results to differ materially from the Company's expectations include failure to receive the required court and regulatory approvals to effect the Transaction; changes in laws, regulations and government practices; the potential of a third party making a superior proposal to the Transaction; risks pertaining to the outbreak of the global pandemics; government regulation of mining operations; environmental risks; and other risks and uncertainties disclosed in the Company's periodic filings with Canadian securities regulators and in other Company reports and documents filed with applicable securities regulatory authorities from time to time, including the Company's Annual Information Form available under the Company's profile at www.sedarplus.ca. In addition, these statements involve assumptions made with regards to the Company's ability to develop the Filo del Sol project and to achieve the results outlined in the Technical Report; the ability to raise the capital required to fund construction and development of the Filo del Sol project; and the results and impact of future exploration at the Filo del Sol project. The Company's forward-looking information reflects the beliefs, opinions, and projections on the date the statements are made. The Company assumes no obligation to update the forward-looking information or beliefs, opinions, projections, or other factors, should they change, except as required by law.

    Filo Announces Closing of C$115 Million Private Placement (CNW Group/Filo Corp.)

    SOURCE Filo Corp.

    Cision

    View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2024/07/c1179.html

    If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for? One common approach is to try and find a company with returns on capital employed (ROCE) that are increasing, in conjunction with a growing amount of capital employed. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. So, when we ran our eye over Antofagasta's (LON:ANTO) trend of ROCE, we liked what we saw.

    What Is Return On Capital Employed (ROCE)?

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

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

    0.10 = US$1.8b ÷ (US$20b – US$2.2b) (Based on the trailing twelve months to December 2023).

    Therefore, Antofagasta has an ROCE of 10%. That's a pretty standard return and it's in line with the industry average of 9.5%.

    See our latest analysis for Antofagasta

    roce

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

    So How Is Antofagasta's ROCE Trending?

    The trend of ROCE doesn't stand out much, but returns on a whole are decent. The company has employed 37% more capital in the last five years, and the returns on that capital have remained stable at 10%. Since 10% is a moderate ROCE though, it's good to see a business can continue to reinvest at these decent rates of return. Over long periods of time, returns like these might not be too exciting, but with consistency they can pay off in terms of share price returns.

    In Conclusion…

    To sum it up, Antofagasta has simply been reinvesting capital steadily, at those decent rates of return. On top of that, the stock has rewarded shareholders with a remarkable 152% return to those who've held over the last five years. So even though the stock might be more "expensive" than it was before, we think the strong fundamentals warrant this stock for further research.

    If you'd like to know about the risks facing Antofagasta, we've discovered 1 warning sign that you should be aware of.

    While Antofagasta isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.

    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.

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

    Brisbane, Australia–(Newsfile Corp. – August 6, 2024) – Graphene Manufacturing Group (TSXV: GMG) ("GMG" or the "Company") is pleased to announce that it has entered into a service agreement with Proactive Investors North America Inc. ("Proactive"), a company existing under the federal laws of Canada and an arm's length party to the Company, dated August 3, 2024 (the "Proactive Agreement") to increase the Company's investor relations outreach. Pursuant to the Proactive Agreement, Proactive will provide media services, including research reports and analyst videos, to GMG for a twelve-month term, unless earlier terminated in accordance with the terms of the Proactive Agreement. The Company will pay Proactive a fee of US$25,000 in consideration for such services.

    Proactive's place of business is 300 Vesey Street, 12th Floor, New York New York 10282 United States. Proactive does not have any interest, directly or indirectly, in the Company or its securities, or any right or intent to acquire such an interest. The Proactive Agreement remains subject to the approval of the TSX Venture Exchange (the "TSXV").

    The Company also announces that it will be continuing its investor relations agreement with Focus Communications Investor Relations Inc. ("Focus"), a company existing under the laws of Ontario, dated July 1, 2023 which will continue for a further two years until July 1, 2026. For further details regarding the arrangement with Focus, please refer to the Company's news releases dated July 18, 2023 and February 19, 2024.

    The Company further announces that it will be continuing its issuer trading services agreement with Independent Trading Group ("ITG"), a company existing under the laws of Ontario, dated June 1, 2023. The ITG Agreement automatically renews for one-month terms unless terminated by the parties. For further details regarding the arrangement with ITG, please refer to the Company's news release dated July 18, 2023.

    About GMG      www.graphenemg.com

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

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

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

    GMG's 4 critical business objectives are:

  • Produce Graphene and improve/scale cell production processes

  • Build Revenue from Energy Savings Products

  • Develop Next-Generation Battery

  • Develop Supply Chain, Partners & Project Execution Capability

    • For further information please contact:

    – Craig Nicol, Chief Executive Officer and Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223- Leo Karabelas at Focus Communications, leo@fcir.ca, +1 647 689 6041

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

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements regarding the expected services to be provided to the Company pursuant to the investor relations agreements described in this news release (the "IR Agreements") and approval of the Proactive Agreement by the TSXV.

    These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, risks related to the services provided pursuant to the IR Agreements differing from management's current expectations and the risk that the TSXV may not approve the Proactive Agreement.

    In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, assumptions regarding the services provided pursuant to the IR Agreements, and the potential benefits provided to the Company by entering into the IR Agreements.

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

    To view the source version of this press release, please visit https://www.newsfilecorp.com/release/219081

    Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.

    Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.

    Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.

    Lundin Mining (LUNMF) is a stock many investors are watching right now. LUNMF is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock is trading with P/E ratio of 9.62 right now. For comparison, its industry sports an average P/E of 20.20. Over the past 52 weeks, LUNMF's Forward P/E has been as high as 18.82 and as low as 7.75, with a median of 12.37.

    Another valuation metric that we should highlight is LUNMF's P/B ratio of 1.15. 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. This stock's P/B looks attractive against its industry's average P/B of 3.08. Over the past year, LUNMF's P/B has been as high as 1.58 and as low as 0.72, with a median of 1.04.

    Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. This is a prefered metric because revenue can't really be manipulated, so sales are often a truer performance indicator. LUNMF has a P/S ratio of 1.75. This compares to its industry's average P/S of 2.38.

    Finally, we should also recognize that LUNMF has a P/CF ratio of 8.27. This data point considers a firm's operating cash flow and is frequently used to find companies that are undervalued when considering their solid cash outlook. LUNMF's current P/CF looks attractive when compared to its industry's average P/CF of 18.13. Over the past year, LUNMF's P/CF has been as high as 12.22 and as low as 4.98, with a median of 7.08.

    These are only a few of the key metrics included in Lundin Mining's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, LUNMF looks like an impressive value stock at the moment.

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

    Lundin Mining Corp. (LUNMF) : Free Stock Analysis Report

    To read this article on Zacks.com click here.

    Zacks Investment Research

    Brisbane, Queensland, Australia–(Newsfile Corp. – August 6, 2024) – Graphene Manufacturing Group Ltd. (TSXV: GMG) ("GMG" or the "Company") is pleased to provide the latest progress update on its Graphene Aluminium-Ion Battery technology ("G+AI Battery") being developed by GMG and the University of Queensland ("UQ").

    Notably, this update includes information about GMG's G+AI Battery regarding:

    • Electrochemistry Optimisation

    • 1000 mAh Battery Cell Capacity Reached (Previously)

    • Battery Technology Readiness Level

    • Next Steps Toward Commercialisation and Market Applications

    • Next Generation Battery Performance

    • Important Milestones for GMG's Graphene Aluminium Ion Battery Development

    Electrochemistry Optimisation

    The Company is currently optimising the G+AI Battery pouch cell electrochemistry – which is a standard battery development process step (please see Battery Technology Readiness Level section below).

    The Company has developed significant knowledge regarding the electrochemistry of the pouch cells since achieving the targeted 1 Ah cell capacity in February 2024.

    The challenges that the G+AI Battery are showing through this phase of its maturation are very similar to other battery chemistries that have been developed into mass production – including Lithium-Ion batteries.

    The performance of the pouch cells will be communicated upon successfully producing a repeatable and 3rd party tested 1000 mAh+ battery pouch cell.

    The Company is confident it can meet its overall timeline on the battery cell roadmap as seen in Figure 1 as previously communicated.

    Figure 1: Battery Cell Roadmap

    To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/218986_934e5a6e74c4b803_001full.jpg

    There are five steps in this optimisation process which the Company completes once per week in what it calls a "Sprint" as seen in Figure 2.

    Figure 2: Optimisation Weekly Sprint Process

    To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/218986_gmg1.jpg

  • Make Cell

    • The major components of the G+AI Battery are:Cathode: Graphene, binder and solvent (water or another solution) layered on a metal foil cathode substrate.Anode: Aluminium foilElectrolyte: Aluminium Chloride and ionic fluid (Urea or another solution)Separator: Separator

    These are assembled in a standard step by step process – which is documented in the Company's operation manual of procedures for the Battery Development Process.

    There are many different variations that can be trialed in a cell design which can include, but are not limited to, the following:

    – Processing of the graphene- Type of Cathode Solvent- Type of Cathode Binder- Cathode thickness- Various Ionic Fluids in the Electrolyte- Various mixes of Electrolyte components- Types of Separators (different materials, suppliers and thicknesses)- Various Cathode preparation variations- Various Cell Assembly process variations- Charging and Discharging algorithms (including charging voltage, current and time)- Formation Processes

    Typically, 5 of each battery design is made which ensures a statistical depth to the testing.

  • Test Cell Performance

    • Once the Cell Performance is measured (on the charging/discharging stacks) there are certain performance parameters that are observed which include, but are not limited to, the following:

    – Capacity (mAh)- Nominal Voltage (Volts)- Number of Charging and Discharging Cycles (number)- Physical expansion or contraction of the cell- Physical changes to the cell

    This data is then recorded and linked to the cell design and assembly process used to make the cell.

  • Compare Cell Performance

    • The objective of this step is to understand what design and cell assembly parameters, in an isolated test, have a repeatable causal change in cell performance.

    Each Sprint usually focuses on a single variable in design or cell assembly – an example of a 3-week Sprint program is seen in Figure 3.

    Figure 3: Sprint Program Example

    To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/218986_gmg2.jpg

  • Review Optimisation Options

    • Upon reviewing optimisation options for the next Sprint, there are many parameters to consider. Often one design parameter of the cell or assembly process will positively improve one cell performance outcome but have a negative impact on another. As the Company optimises various performance outcomes of the battery cell – some of which are shown in Figure 4 – the Company needs to consider the various potential trade-offs on other performance outcomes.

    Figure 4: Battery Optimisation Process

    To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/218986_gmg3.jpg

  • Propose Next Cell Design (repeat Step 1 again)

    • Once the Company has selected the design of the Cell parameters, it needs to test for optimisation. This involves repeating step 1 until a final design or variable is chosen.

    1000 mAh Battery Cell Capacity Reached

    The Company previously announced on the 6th February 2024 it produced multiple battery pouch cells with over 1000 mAh (1 Ah) capacity, as seen in Figure 5. This was a major milestone achieved to demonstrate scalability from coin cells to pouch cells, and represented the next milestone in the battery's development, following the announcement of 500 mAh capacity in September 2023.

    Figure 5: Typical G+AI Pouch Cell Prototype

    To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/218986_934e5a6e74c4b803_009full.jpg

    Please see typical charging and discharging curve of the GMG's Graphene Aluminium-Ion Battery 1000 mAh cell in Figure 6 showing a nominal voltage of 1.7 volts.

    Figure 6: Typical Charging and Discharging Curves

    To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/218986_934e5a6e74c4b803_010full.jpg

    At the same time, GMG is reviewing a potential investment for the procurement and installation of an automated pouch cell battery pilot plant in its Richlands Australia Facility. The Pilot Plant will enable the Company to produce pouch cells for potential customers to test in battery packs for different applications. Following the successful start-up of the Pilot Plant and successful customer trials, GMG expects to pursue large scale commercial production, as seen in Figure 7.

    Figure 7: Pouch Cell Scale Up Process

    To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/218986_934e5a6e74c4b803_011full.jpg

    Battery Technology Readiness Level

    The battery technology readiness level ("BTRL") of the Graphene Aluminium-Ion technology remains at Level 4 (see Figure 8). GMG is currently optimizing electrochemical behaviour for pouch cells via ongoing laboratory experimentation. If GMG invests, constructs and commissions a Pilot Plant it is anticipated that the battery technology will progress to BTRL 7 and 8 since the equipment and process needed to make the Graphene Aluminium-Ion batteries is the same as those employed to make Lithium Ion Batteries.

    Figure 8: Battery Technology Readiness Level

    Source: "The Battery Component Readiness Level (BC-RL) Framework: A technology-specific development framework", Matthew Greenwood et al

    To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/218986_934e5a6e74c4b803_012full.jpg

    Next Steps Toward Commercialisation & Market Applications

    The Company continues to see a broad range of applications for a completed GMG Graphene Aluminium Ion Battery – utilising its ultra-high power-density and nominal energy density characteristics. Along with Rio Tinto, a range of global companies have confidentially expressed their interest in working with GMG in the following vertical sectors:

    To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/218986_934e5a6e74c4b803_013full.jpg

    Next Generation Battery Performance

    GMG's next generation Graphene Aluminium-Ion Battery performance data (as tested and calculated on coin cells), as compared to the most commonly available lithium-ion batteries, is shown below in Figure 9, with a list of its beneficial characteristics.

    The performance of the pouch cells will be communicated upon successfully producing a repeatable and fully 3rd party tested 1000 mAh+ battery pouch cell.

    Figure 9: Graphene Aluminium Ion Battery Comparative Performance Data (for coin cells)

    Pouch cell performance data could be significantly different and will be published once 1000 mAh+ capacity pouch cells are developed and tested.

    Source:*University of Queensland validated GMG testing data based on industry standard estimate methodology from coin cells using a reducing factor of 2.3.#CATL 3.7V 65Ah NCM Lithium Battery Cell – LiFePO4 Battery (lifepo4-battery.com) on 29/09/22 7$ CATL 3.2V 150Ah LiFePO4 Battery Cell – LiFePO4 Battery (lifepo4-battery.com) on 29/09/22

    To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/218986_934e5a6e74c4b803_014full.jpg

    Important Milestones for the Battery's Development:

    Important milestones for GMG's Graphene Aluminium Ion Battery Development:

    Month

    Important Milestones in the Development of the Graphene Aluminium Ion Battery

    May 2020

    GMG and UQ wins Australian Research Council grant for Graphene battery developmenthttps://graphenemg.com/gmg-and-uq-wins-australian-research-council-grant-for-graphene-aluminium-ion-battery-development/

    Apr 2021

    The University of Queensland and GMG kick off coin cell battery development projecthttps://graphenemg.com/gmg-the-university-of-queensland-research-uni-quest-kick-off-the-graphene-enhanced-aluminium-ion-battery-development-project/

    May 2021

    Graphene aluminium-ion battery performance data – Energy Density and Power Densityhttps://graphenemg.com/gmg-graphene-aluminium-ion-battery-performance-data/

    Jun 2021

    Graphene aluminium-ion battery performance data – Cycle Lifehttps://graphenemg.com/graphene-aluminium-ion-battery-performance-data/

    Jun 2021

    Significant potential battery customer market response to launch of batteryhttps://graphenemg.com/gmg-graphene-aluminium-ion-battery-progress-update/

    Jul 2021

    Investment decision for coin cell battery development centrehttps://graphenemg.com/gmg-battery-pilot-plant-investment/

    Oct 2021

    Construction starts for coin cell battery development centrehttps://graphenemg.com/construction-battery-pilotplant/

    Oct 2021

    Bosch Australia Manufacturing Solutions and GMG sign Letter of Intenthttps://graphenemg.com/gmg-and-bosch-sign-collaboration-arrangement-for-bosch-to-design-and-deliver-gmgs-graphene-aluminium-ion-battery-manufacturing-plant/

    Dec 2021

    Commencement coin cell battery development centrehttps://graphenemg.com/battery-pilot-plant/

    Dec 2021

    Initial coin cell batteries sent for customer feedbackhttps://graphenemg.com/graphene-aluminium-battery-customers-prototypes/

    Mar 2022

    Initial factory acceptance testing of semi-automated prototype battery cell assembly equipmenthttps://graphenemg.com/gmg-announces-initial-factory-acceptance-testing-of-semi-automated-prototype-battery-cell-assembly-equipment/

    Mar 2022

    Wood Engineering and GMG Sign a Letter of Intenthttps://graphenemg.com/gmg-and-wood-agree-collaboration-arrangement-for-wood-to-engineer-and-deliver-major-graphene-manufacturing-expansion-projects/

    May 2022

    Rio Tinto and GMG sign Letter of Intenthttps://graphenemg.com/gmg-riotinto-energysavings-battery/

    Jun 2022

    Commissioning of Pouch Cell Equipmenthttps://graphenemg.com/gmg-manufactures-first-pouch-cell/

    Jun 2022

    Bob Galyen former chief technology officer of CATL joins GMG technical advisory committee.https://graphenemg.com/gmg-technical-advisory-committee-leadership-team-additions-and-cfo-change/

    Aug 2022

    Investment decision for Phase 1 modular Graphene Production Planthttps://graphenemg.com/gmg-announces-phase-1-expansion-project-to-graphene-manufacturing-facility-for-energy-saving-products-and-batteries/

    Oct 2022

    Significant battery performance, cell and graphene production improvementshttps://graphenemg.com/gmgs-battery-update-significant-battery-performance-cell-and-graphene-production-improvements/

    Dec 2022

    Investment of $600k Battery Development Centrehttps://graphenemg.com/gmg-invests-au-600000-to-accelerate-battery-pouch-cell-customer-testing-development-in-2023/

    Feb 2023

    Australian Government Approval (AICIS) for production and sale of batteries.https://graphenemg.com/gmg-receives-regulatory-approval-to-enable-significant-commercial-sales/

    May 2023

    Battery Joint Development Agreement with Rio Tinto signedhttps://graphenemg.com/gmg-announces-battery-joint-development-agreement-with-rio-tinto/

    May 2023

    Battery Technology Readiness Level (BRTL) 2-3 reachedhttps://graphenemg.com/gmg-announces-battery-team-and-related-updates/

    May 2023

    Decision to switch to develop Pouch Cells (instead of Coin Cells)https://graphenemg.com/gmg-announces-battery-team-and-related-updates/

    Jul 2023

    Bob Galyen former chief technology officer of CATL joins GMG board of Directorshttps://graphenemg.com/graphene-manufacturing-group-appoints-former-chief-technology-officer-of-catl-limited-to-its-board-of-directors/

    Sep 2023

    Battery Pouch Cell Prototypes Multilayered Auto-Stacker Demonstrationhttps://graphenemg.com/gmg-graphene-aluminium-ion-battery-pouch-cell-prototypes-multilayered-auto-stacker-demonstration/

    Sep 2023

    Reaching 500 mAh capacity batteryhttps://graphenemg.com/gmg-achieves-500mah-graphene-aluminium-ion-battery-prototype-in-pouch-cell-format/

    Sep 2023

    Battery Technology Readiness Level (BRTL) 4 reachedhttps://graphenemg.com/gmg-achieves-500mah-graphene-aluminium-ion-battery-prototype-in-pouch-cell-format/

    Nov 2023

    Rio Tinto and GMG Partnership Video Launchedhttps://graphenemg.com/rio-tinto-gmg-battery-partnership-video-launch/

    Dec 2023

    Commissioning of modular Graphene Production Planthttps://graphenemg.com/graphene-manufacturing-group-commissions-modular-graphene-production-plant/

    Feb 2024

    1000 mAh Capacity Reachedhttps://graphenemg.com/gmgs-graphene-aluminium-ion-battery-1000-mah-capacity-reached-and-next-steps-toward-commercialisation/

    Mar 2024

    Graphene Manufacturing Group Secures AU$2 million Funding Grant from Queensland Government for Battery Pilot Planthttps://graphenemg.com/graphene-manufacturing-group-secures-au2-million-funding-grant-from-queensland-government-for-battery-pilot-plant/

     

    About GMG

    GMG is a clean-technology company which seeks to offer energy saving and energy storage solutions, enabled by graphene, including that manufactured in-house via a proprietary production process.

    GMG has developed a proprietary production process to decompose natural gas (i.e. methane) into its elements, carbon (as graphene), hydrogen and some residual hydrocarbon gases. This process produces high quality, low cost, scalable, 'tuneable' and low/no contaminant graphene suitable for use in clean-technology and other applications. The Company's present focus is to de-risk and develop commercial scale-up capabilities, and secure market applications.

    In the energy savings segment, GMG has focused on graphene enhanced heating, ventilation and air conditioning ("HVAC-R") coating (or energy-saving paint), lubricants and fluids. In the energy storage segment, GMG and the University of Queensland are working collaboratively with financial support from the Australian Government to progress R&D and commercialization of graphene aluminium-ion batteries ("G+AI Batteries").

    GMG's 4 critical business objectives are:

  • Produce Graphene and improve/scale cell production processes

  • Build Revenue from Energy Savings Products

  • Develop Next-Generation Battery

  • Develop Supply Chain, Partners & Project Execution Capability

    • For further information please contact:

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

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

    www.graphenemg.com

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

    Cautionary Note Regarding Forward-Looking Statements

    This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or will "potentially" or "likely" occur. This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the development of the Company's pouch cell battery, that the Company will obtain repeatable third party testing of a 1000 mAh+ battery pouch cell, the timing of gathering third party laboratory battery testing data, that the Company will review the investment decision to procure and install an automated pouch cell battery pilot plant in its Richlands Australia facility and the potential to pursue large scale commercial production if the pilot plant and customer trials are successful, the timing of customer testing for an 1000 mAh pouch cell, that the Company will optimize electrochemical behaviour for pouch cells via ongoing laboratory experimentation, the ability of a pilot plant to help progress the Graphene Aluminium-Ion technology along the BTRL, the Company's ability to meet its overall timeline on the battery cell roadmap, and the potential applications for the G+AI Battery.

    Such forward-looking statements are based on a number of assumptions of management, including, without limitation, assumptions that the Company will obtain repeatable third party testing of a 1000 mAh+ battery pouch cell, that the Company will review the investment decision to procure and install an automated pouch cell battery pilot plant in its Richlands Australia facility, that the Company may move to large scale commercial production if the pilot plant and customer trials are successful, that the Company will be able to optimize the electrochemical behaviour of the pouch cell through laboratory experimentation, that a pilot plant will assist in progressing its Graphene Aluminium-Ion technology along the BTRL, and that the Company will be able to meet its overall timeline on the battery cell roadmap. Additionally, forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of GMG to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that the Company will not be able to obtain repeatable third party testing of a 1000 mAh+ battery pouch cell, that the Company will choose not to proceed with a pilot plant, that the Company will not proceed to customer testing and laboratory testing on the expected timeline or at all, that the Company will not pursue large scale commercial production even if the pilot plant and customer trials are successful, that the construction of a pilot plant will not help advance the Graphene Aluminium-Ion technology along the BTRL, that the Company will not be able to optimize the electrochemical behaviour of the pouch cell through laboratory experimentation or at all, the Company will not be able to meet its overall timeline on the battery cell roadmap, risks relating to the extent and duration of the conflict in Eastern Europe and its impact on global markets, the volatility of global capital markets, political instability, the failure of the Company to obtain regulatory approvals, attract and retain skilled personnel, unexpected development and production challenges, unanticipated costs and the risk factors set out under the heading "Risk Factors" in the Company's annual information form dated October 12, 2023 available for review on the Company's profile at www.sedarplus.ca.

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

    To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218986

    Key Insights

    • Given the large stake in the stock by institutions, Freeport-McMoRan's stock price might be vulnerable to their trading decisions

    • 50% of the business is held by the top 19 shareholders

    • Ownership research along with analyst forecasts data help provide a good understanding of opportunities in a stock

    A look at the shareholders of Freeport-McMoRan Inc. (NYSE:FCX) can tell us which group is most powerful. The group holding the most number of shares in the company, around 83% to be precise, is institutions. In other words, the group stands to gain the most (or lose the most) from their investment into the company.

    And so it follows that institutional investors was the group most impacted after the company's market cap fell to US$60b last week after a 7.9% drop in the share price. The recent loss, which adds to a one-year loss of 2.0% for stockholders, may not sit well with this group of investors. Also referred to as "smart money", institutions have a lot of sway over how a stock's price moves. As a result, if the decline continues, institutional investors may be pressured to sell Freeport-McMoRan which might hurt individual investors.

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

    See our latest analysis for Freeport-McMoRan

    ownership-breakdownWhat Does The Institutional Ownership Tell Us About Freeport-McMoRan?

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

    We can see that Freeport-McMoRan does have institutional investors; and they hold a good portion of the company's stock. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. When such a trade goes wrong, multiple parties may compete to sell stock fast. This risk is higher in a company without a history of growth. You can see Freeport-McMoRan's historic earnings and revenue below, but keep in mind there's always more to the story.

    earnings-and-revenue-growth

    Investors should note that institutions actually own more than half the company, so they can collectively wield significant power. We note that hedge funds don't have a meaningful investment in Freeport-McMoRan. The Vanguard Group, Inc. is currently the company's largest shareholder with 8.4% of shares outstanding. For context, the second largest shareholder holds about 7.6% of the shares outstanding, followed by an ownership of 6.8% by the third-largest shareholder.

    A closer look at our ownership figures suggests that the top 19 shareholders have a combined ownership of 50% implying that no single shareholder has a majority.

    Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future.

    Insider Ownership Of Freeport-McMoRan

    While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO.

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

    Our information suggests that Freeport-McMoRan Inc. insiders own under 1% of the company. Being so large, we would not expect insiders to own a large proportion of the stock. Collectively, they own US$311m of stock. Arguably recent buying and selling is just as important to consider. You can click here to see if insiders have been buying or selling.

    General Public Ownership

    The general public– including retail investors — own 16% stake in the company, and hence can't easily be ignored. This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders.

    Next Steps:

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

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

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

    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.

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

    Goliath Resources Limited

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    Drill Highlights From 2024 Drilling Season:

    • 100% of the first 8 holes drilled to date during the 2024 drill season have intercepted continuous strong mineralization in the targeted veins. Including mineralization that suggests the drilling has tapped into the heat engine source of the gold mineralizing system at the Surebet Discovery.

    • Abundant Visible Gold up to 1.30 mm in size has been identified in multiple intervals in 6 out of the first 8 holes of 2024, corresponding to 75% of the holes drilled thus far. The majority being hosted further downhole within the volcanics, and gold mineralization remains open in all directions.

    • Mineralization consists of abundant visible gold, galena, sphalerite, chalcopyrite, and other sulphides hosted in breccia, stockwork and/or veins. This system remains wide open for further discoveries.

    • To date, 10 mineralized veins have been delineated within the Hazelton Sedimentary unit and underlaying Hazelton volcanics, with additional (or continued) mineralization being discovered at downhole depth along trend deeper in the mountain. Promising results from 2024 drilling campaign has intercepted a new zone that could potentially be the top of the heat engine source.

    • An impressive vertical trend of visible gold has been noticed in the drill core. Highest in the gold zones, it is fine grained sporadic visible gold. In the deeper downhole zones, there is a transition to abundant visible gold including coarse grained visible gold.

    • Drill hole GD-24-244 (in progress) intersected visible gold within an interval of strong quartz-sulphide mineralization at 700 meters downhole hosted within the volcanics. This is the deepest downhole occurrence of visible gold and sulphide-mineralization recorded to date on the Surebet Discovery, confirming the tremendous additional discovery potential at depth below the valley floor where the system remains wide open (see image below).

    • GD-24-242 collared from Golden Gate pad intersected multiple intervals of mineralization consisting of quartz-sulphide veining and stockwork cumulatively adding up to 90.15 meters, within which 4 occurrences of visible gold were identified and remains open.

    • It is important to note that the gold zones start at the top of the mountain where there is an extremely large outcrop with 700 meters of vertical relief. It goes down 1 kilometer on the south slope and 1.1 kilometer down the north slope, then appears to have the potential to extend down to the valley floor and beyond. The gold zones could be easily accessed through a series of portals and underground workings to precisely target the gold zones in a potential mining scenario.

    • Drilling has barely started to scratch the surface, with excellent potential for additional discovery as we venture deeper down into and past the valley floor. Because of the topography of the Surebet discovery and the majority of drilling being carried out on the slope of the mountain, none of the drill holes completed to date have drilled deeper than the valley floor, where the Surebet system remains open.

    • The increase in coarser visible gold and base metal components observed with depth, indicates stronger mineralization in deeper parts of the system as drilling ventures past the valley floor. This suggests that drilling is closing in on the heat engine responsible for the precious and base metals mineralization observed at Surebet (see image below).

    • The expanded 2024 drill plan will focus on building continuity on the 10 known mineralized veins, including Surebet, Bonanza, Eldorado and Golden Gate as well as expanding them in all directions, which will allow the Company to better understand the size and grade distribution of this system that remains wide open.

    • GD-24-235 collared from Golden Gate pad, and previously reported, intercepted abundant visible gold up to 1.30 mm in size and sulphide mineralization in shear zones hosted in both the sedimentary and volcanic units. This hole assayed 15.86 g/t AuEq (15.40 g/t Au and 17.11 g/t Ag) over 11.9 meters ~true width, including 35.04 g/t AuEq (34.16 g/t Au and 34.15 g/t Ag) over 5.24 meters ~true width (updated interval) and corresponds to the Bonanza Shear (444.3 – 452.9 meters downhole):

      • Assays are pending on a 24.4 meter intercept of a porphyritic intrusion with abundant visible gold, molybdenite up to 2 mm in size, and bismuth between 529.29 – 553.67 meters downhole interpreted as Mothership Feeder Zone;

      • The newly discovered mineralized porphyritic intrusion intercepted at depth strongly indicates close proximity to the feeder source responsible for the widespread high-grade mineralization confirmed at Surebet; and

      • Assays are also pending on a 10 meter interval between 550 and 650 meters downhole that is hosted within the andesite with abundant visible gold, up to 30 % pyrrhotite, 3 % chalcopyrite, 1 % sphalerite, and 1 % pyrite interpreted as the Golden Gate Zone.

    • GD-24-236 collared from Go-For-Gold pad, as previously reported, intercepted high-grade gold mineralization containing 4.14 g/t AuEq (3.02 g/t Au and 63.55 g/t Ag) over 6.0 meters, including 6.79 g/t AuEq (4.96 g/t Au and 78.03 g/t Ag) over 3.04 meters interpreted to correspond with the Surebet Upper Zone.

    • GD-24-242 collared from Golden Gate pad intersected multiple intervals of mineralization consisting of quartz-sulphide veining and stockwork cumulatively adding up to 90.15 meters, within which 4 occurrences of visible gold were identified. Within the sedimentary rocks a high-density vein interval was identified between 190.00 and 498.15 meters, including 47.07 meters of quartz-sulphide stockwork containing pyrrhotite, chalcopyrite and sphalerite from 190.00 meters to 237.07 meters, and 21.02 meters of high-density quartz veining containing pyrrhotite, chalcopyrite and sphalerite from 474.50 meters to 495.52 meters. The Bonanza Shear was intercepted at the contact between sedimentary and volcanic rocks from 583.70 meters to 585.49 meters and is characterized by semi-massive to massive pyrrhotite (up to 50 %), sphalerite (up to 8%) and galena (up to 3%).

    • GD-24-242 has the longest intercept of consistent and widespread quartz-sulphide mineralization of the holes completed so far in 2024 (assays pending).

    • GD-24-240 collared from Goldsmith pad intercepted multiple quartz-sulphide veins and stockwork sections including visible gold hosted in the sedimentary rocks between 204.20 meters and 379.47 meters, which includes a 9.68 meter interval corresponding to the Bonanza Shear from 369.80 meters to 379.47 meters characterized by semi-massive sphalerite, chalcopyrite and pyrrhotite (assays pending).

    • GD-24-241 collared from Golden Gate pad intercepted an extensive 51.33 meter interval consisting of sheared quartz-stockwork with high density of veins containing chalcopyrite (up to 1%), pyrrhotite (up to 1%) and pyrite (up to 1%) from 442.71 meters to 494.04 meters. Visible gold was intercepted in 3 separate veins hosted in the volcanic rocks between 553.72 meters and 568.89 meters (assays pending).

    • GD-24-238 collared from Go-for-Gold pad intersected 2.59 meter interval of quartz-sulphide breccia and stockwork containing up to 5% pyrite, 1% galena, 1% chalcopyrite and minor sphalerite from 281.07 meters to 283.66 meters hosted within a 12.13 meter section of sedimentary rocks characterized by pervasive quartz-sulphide veining from 274.78 meters to 286.91 meters (assays pending).

    • GD-24-237 collared from Golden Gate pad intercepted 1.61 meter interval of quartz-sulphide stockwork and veining at the contact between sedimentary and volcanic rocks corresponding to the Bonanza Shear from 449.69 meters to 451.30 meters with pyrite (up to 1%), minor galena, sphalerite and pyrrhotite. The sedimentary rocks above this interval contain significant quartz veining with trace sulphide from 425.00 meters to 449.69 meters. A second interval of quartz-sulphide veining containing visible gold is 0.75 meters long and was identified from 569.29 meters to 570.04 meters and is hosted in volcanic rocks containing veinlets of pyrrhotite and pyrite throughout from 451.30 meters to 833.73 meters (assays pending).

    Surebet Highlights:

    • Exceptional continuity of the gold mineralization that is predictable with our geological team has a strong understanding of the system. The gold mineralization has excellent metallurgical recoveries of 92.2% Gold from gravity and flotation, including 48.8% free gold from gravity alone at a 327 micron crush; no deleterious minerals or cyanide required.

    • Located in a mining friendly jurisdiction within a world class geological setting of the Golden Triangle, B.C.

    • Next door to the old Kitsault Mine, a permitted brownfield mine site that is located on the BC Hydro grid with road access to the Nass Valley and tidewater access to Prince Rupert.

    • The Golddigger property is fully permitted until 2029 for 199 drill pads.

    • 66,930 meters have been drilled to date at the Golddigger property (2021 – 2023).

    • 44 holes (or 35%) of 124 holes drilled in 2023 contained Visible Gold with nuggets up to 11 mm in size.

    • Best hole drilled to date is GD-23-180 assaying 65.00 g/t AuEq (64.88 g/t Au and 8.03 g/t Ag) over 7.90 meters, including 86.99 g/t AuEq (86.84 g/t Au and 6.52 g/t Ag) over 5.90 meters.

    • Mineralization can be seen at surface for 1.0 kilometers of strike and 1.1 kilometers down-dip extent appears to continue below the valley floor with 700 meters of vertical relief that has exceptional continuity.

    • 10 gold mineralized vein horizons have been identified to date and remain open.

    • The mineralized footprint of the Surebet discovery corresponds to 1.8 km2, the equivalent in size to >336 NFL football fields.

    TORONTO, Aug. 06, 2024 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is very pleased to report the discovery of strong sulphide mineralization in quartz breccia, stockwork and veining in 100% of the first 8 holes to date during the 2024 drill season with 6 (75%) containing abundant visible gold at its 100% controlled Golddigger Property (the “Property”), Golden Triangle, B.C.

    Drill hole GD-24-244 (in progress) intersected visible gold within an interval of strong quartz-sulphide mineralization at 700 meters downhole hosted within the volcanics. This is the deepest downhole occurrence of visible gold and sulphide-mineralization recorded to date on the Surebet Discovery, confirming the tremendous additional discovery potential at depth below the valley floor where the system remains wide open. This increases the Company’s confidence in the proximity of the feeder source of the Surebet system.

    Description Of Drill Holes From 2024 Drilling Campaign

    Hole GD-24-235 (180Az/-81.5 Dip, EOH 696.00 meters) was collared from Golden Gate Pad and drilled into the Bonanza Shear Zone and the newly discovered Mothership Feeder Zone. This hole assayed 15.86 g/t AuEq (15.40 g/t Au and 17.11 g/t Ag) over 11.9 meters ~true width, including 35.04 g/t AuEq (34.16 g/t Au and 34.15 g/t Ag) over 5.24 meters ~true width (updated interval) and corresponds to the Bonanza Vein (444.3 – 452.9 meters downhole). It is hosted within the Lower Hazelton volcanics containing abundant visible gold and strong sulphide mineralization in quartz breccia. The hole intercepted a porphyritic intermediate intrusive dyke containing veins with abundant visible gold, molybdenum up to 2 mm and bismuth mineralization. The host rock consists of intervals of interbedded mudstone and siltstone, in the deeper portion of the hole calc-silicate-altered andesite. Several mineralized quartz veins with abundant visible gold have been intersected within the andesite.

    Assays are pending from GD-24-235 on a 24.4 meter intercept of a porphyritic intrusion with abundant visible gold, molybdenite up to 2 mm in size, and bismuth between 529.29 – 553.67 meters downhole interpreted as the Mothership Feeder Zone. Assays are also pending on a 10 meter interval between 550 and 650 meters downhole that is hosted within the andesite with abundant visible gold, up to 30 % pyrrhotite, 3 % chalcopyrite, 1 % sphalerite, and 1 % pyrite interpreted as the Golden Gate Zone. The newly discovered mineralized porphyritic intrusion is interpreted as the distal expression of the feeder intrusion responsible for the mineralization seen at Surebet.

    Hole GD-24-236 (200 Az/-45 Dip, EOH 351.00 meters) collared from Go-For-Gold Pad above the main Surebet Zone intercepted high-grade gold mineralization containing 4.14 g/t AuEq (3.02 g/t Au and 63.55 g/t Ag) over 6.0 meters including 6.79 g/t AuEq (4.96 g/t Au and 78.03 g/t Ag) over 3.04 meters interpreted to be the Surebet Upper Zone. The hole drilled through a sedimentary sequence of mudstones that contained interbedded siltstones and sandstones in the upper portion of the hole. The lower part of the hole consists of interbedded mudstones and pyritic limestone (1 – 2% disseminated pyrite). Mineralization in this interval consists of strongly carbonate-altered sedimentary rocks with massive pyrrhotite (2%) and sphalerite (1%), semi-massive galena (<1%) and pyrite (<1%), as well as trace chalcopyrite. Sulphide was observed in host rock margins near quartz breccia.

    GD-24-242 collared from Golden Gate pad intersected multiple intervals of mineralization consisting of quartz-sulphide veining and stockwork cumulatively adding up to 90.15 meters, within which 4 occurrences of visible gold were identified. Within the sedimentary rocks a high-density vein interval was identified between 190.00 and 498.15 meters, including 47.07 meters of quartz-sulphide stockwork containing pyrrhotite, chalcopyrite and sphalerite from 190.00 meters to 237.07 meters, and 21.02 meters of high-density quartz veining containing pyrrhotite, chalcopyrite and sphalerite from 474.50 meters to 495.52 meters. The Bonanza Shear was intercepted at the contact between sedimentary and volcanic rocks from 583.70 meters to 585.49 meters and is characterized by semi-massive to massive pyrrhotite (up to 50 %), sphalerite (up to 8%) and galena (up to 3%). GD-24-242 has the longest intercept of consistent and widespread quartz-sulphide mineralization of the holes completed so far in 2024 (see image below).

    An accompanying infographic is available at:https://www.globenewswire.com/NewsRoom/AttachmentNg/2c46d24d-33aa-40a5-a86d-b6aaba7b9983

    Drill hole GD-24-240 (068 Az/65 Dip, EOH 819.00 meters) collared from Goldsmith pad intercepted multiple quartz-sulphide veins and stockwork sections including visible gold hosted in the sedimentary rocks between 204.20 meters and 379.47 meters, which includes a 9.68 meter interval corresponding to the Bonanza Shear from 369.80 meters to 379.47 meters characterized by semi-massive sphalerite, chalcopyrite and pyrrhotite.

    Drill hole GD-24-241 (140 Az/60 Dip, EOH 738.00 meters) collared from Golden Gate pad intercepted an extensive 51.33 meter interval consisting of sheared quartz-stockwork with high density of veins containing chalcopyrite (up to 1%), pyrrhotite (up to 1%) and pyrite (up to 1%) from 442.71 meters to 494.04 meters. Visible gold was intercepted in 3 separate veins hosted in the volcanic rocks between 553.72 meters and 568.89 meters.

    Drill hole GD-24-238 (240 Az/50 Dip, EOH 380.00 meters) collared from Go-for-Gold pad intersected 2.59 meter interval of quartz-sulphide breccia and stockwork containing up to 5% pyrite, 1% galena, 1% chalcopyrite and minor sphalerite from 281.07 meters to 283.66 meters hosted within a 12.13 meter section of sedimentary rocks characterized by pervasive quartz-sulphide veining from 274.78 meters to 286.91 meters.

    GD-24-237 collared from Golden Gate pad intercepted 1.61 meter interval of quartz-sulphide stockwork and veining at the contact between sedimentary and volcanic rocks corresponding to the Bonanza Shear from 449.69 meters to 451.30 meters with pyrite (up to 1%), minor galena, sphalerite and pyrrhotite. The sedimentary rocks above this interval contain significant quartz veining with trace sulphide from 425.00 meters to 449.69 meters. A second interval of quartz-sulphide veining containing visible gold is 0.75 meters long and was identified from 569.29 meters to 570.04 meters and is hosted in volcanic rocks containing veinlets of pyrrhotite and pyrite throughout from 451.30 meters to 833.73 meters.

    Summary Of Drilling

    The increase in coarser gold and base metal components observed with depth, indicates stronger mineralization in deeper parts of the system as drilling ventures past the valley floor. This suggests that drilling is closing in on the heat engine responsible for the precious and base metals mineralization observed at Surebet.

    Drilling has barely started to scratch the surface, with excellent potential for additional discovery as we venture deeper down past the valley floor. Because of the topography of the Surebet discovery and the majority of drilling being carried out on the slope of the mountain, none of the drill holes completed to date have drilled deeper than the valley floor. The expanded 2024 drill plan will focus on building continuity on the 10 known mineralized veins, including Surebet, Bonanza, Eldorado and Golden Gate as well as expanding them in all directions, which will allow the Company to better understand the size and grade distribution of this system that remains wide open.

    The Surebet Discovery will see the bulk of meters planned with the balance testing a new strongly mineralized gold-copper outcropping target: Treasure Island (see location map below).

    An accompanying infographic is available at:https://www.globenewswire.com/NewsRoom/AttachmentNg/20616150-6dd5-4d28-9d3c-215bbf9ca0b0

    Golddigger Property

    The Golddigger Property is 100% controlled covering an area of 66,608 hectares (164,592 acres) and is in the world class geological setting of the Eskay Rift, within 3 kilometers of the Red Line in the Golden Triangle of British Columbia. This area has hosted some of Canada’s greatest mines that include Eskay Creek, Premier and Snip. Other significant and well known deposits in the Golden Triangle include Brucejack, Copper Canyon, Galore Creek, Granduc, KSM, Red Chris, and Schaft Creek. Goliath controls 56 kilometers of the Red Line which is a geologic contact between Triassic age Stuhini rocks and Jurassic age Hazelton rocks used as key markers when exploring for gold-copper-silver mineralization.

    The Surebet discovery has exceptional continuity and excellent metallurgy with gold recoveries of 92.2% including 48.8% free gold from gravity alone, at a 327-micrometer crush (no deleterious elements and no cyanide required to recover the gold based on metallurgical work completed to date).

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

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

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

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

    Qualified Person

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

    About Goliath Resources LimitedGoliath Resources Limited is an explorer of precious metals projects in the prolific Golden Triangle of northwestern British Columbia and Abitibi Greenstone Belt of Quebec. 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 and Mr. Eric Sprott.

    For more information please contact:

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

    Other

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

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

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

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

    All samples are transported in rice bags sealed with numbered security tags. A transport company takes them from the core shack to the ALS labs facilities in North Vancouver. ALS is either certified to ISO 9001:2008 or accredited to ISO 17025:2005 in all of its locations. At ALS samples were processed, dried, crushed, and pulverized before analysis using the ME-MS61 and Au-SCR21 methods. For the ME-MS61 method, a prepared sample is digested with perchloric, nitric, hydrofluoric, and hydrochloric acids. The residue is topped up with dilute hydrochloric acid and analyzed by inductively coupled plasma atomic emission spectrometry. Overlimits were re-analyzed using the ME-OG62 and Ag-GRA21 methods (gravimetric finish). For Au-SCR21 a large volume of sample is needed (typically 1-3kg). The sample is crushed and screened (usually to -106 micron) to separate coarse gold particles from fine material. After screening, two aliquots of the fine fraction are analysed using the traditional fire assay method. The fine fraction is expected to be reasonably homogenous and well represented by the duplicate analyses. The entire coarse fraction is assayed to determine the contribution of the coarse gold.

    Widths are reported in drill core lengths and the true widths are estimated to be 80-90% and AuEq metal values are calculated using: AuEq metal values are calculated using: Au 1924.79 USD/oz, Ag 22.76 USD/oz, Cu 3.75 USD/lbs, Pb 2128.75 USD/ton and Zn 2468.50 USD/ton on December 23, 2023. There is potential for economic recovery of gold, silver, copper, lead, and zinc from these occurrences based on other mining and exploration projects in the same Golden Triangle Mining Camp where Goliath’s project is located such as the Homestake Ridge Gold Project (Auryn Resources Technical Report, Updated Mineral Resource Estimate and Preliminary Economic Assessment on the Homestake Ridge Gold Project, prepared by Minefill Services Inc. Bothell, Washington, dated May 29, 2020). Here, AuEq values were calculated using 3-year running averages for metal price, and included provisions for metallurgical recoveries, treatment charges, refining costs, and transportation. Recoveries for Gold were 85.5%, Silver at 74.6%, Copper at 74.6% and Lead at 45.3%. It will be assumed that Zinc can be recovered with the Copper at the same recovery rate of 74.6%. The quoted reference of metallurgical recoveries is not from Goliath’s Golddigger Project, Surebet Zone mineralization, and there is no guarantee that such recoveries will ever be achieved, unless detailed metallurgical work such as in a Feasibility Study can be eventually completed on the Golddigger Project.

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

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

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

    This announcement does not constitute an offer, invitation, or recommendation to subscribe for or purchase any securities and neither this announcement nor anything contained in it shall form the basis of any contract or commitment.  In particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal.

    The securities referred to herein have not been and will not be will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

    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

    SANTIAGO (Reuters) – Australian miner BHP has requested mediation by the Chilean government with the union representing workers at its Escondida mine, the company said on Monday, a move aimed at avoiding a potential strike at the world's largest copper project.

    BHP noted in a statement that the mine is operating normally and that the mediation would aim to achieve a contractual agreement for the mine's workers.

    BHP owns more than half of Escondida, while Rio Tinto and JECO Corp control minority stakes.

    Once the mediation is confirmed, the parties will have five working days to continue negotiations, according to the statement.

    Last week, Escondida workers rejected an offer for a new collective bargaining agreement, according to the union.

    The union has demanded that 1% of dividends to be distributed equally among workers, but declined on Monday to comment on the company's request for mediation.

    (Reporting by Fabian Cambero; Writing by Aida Pelaez-Fernandez; Editing by David Alire Garcia)

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    Freeport-McMoRan (FCX)

    Based in Phoenix, AZ, Freeport-McMoRan Inc., formerly Freeport-McMoRan Copper & Gold Inc., is engaged in mineral exploration and development; mining and milling of copper, gold, molybdenum and silver; as well as the smelting and refining of copper concentrates. The company conducts its operations primarily through its principal operating subsidiaries, PT Freeport Indonesia (PT-FI), Freeport Minerals Corporation and Atlantic Copper. PT Freeport Indonesia’s principal asset is Papua, Indonesia-based Grasberg mine, which contains the world’s largest copper and gold reserves.

    FCX boasts a Value Style Score of B and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Shares of Freeport-McMoRan are trading at a forward earnings multiple of 25.2X, as well as a PEG Ratio of 2, a Price/Cash Flow ratio of 14X, and a Price/Sales ratio of 2.4X.

    Value investors don't just pay attention to a company's valuation ratios; positive earnings play a crucial role, too. Four analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.01 to $1.67 per share. FCX has an average earnings surprise of 21.7%.

    Investors should take the time to consider FCX for their portfolios due to its solid Zacks Ranks, notable earnings and valuation metrics, and impressive Value and VGM Style Scores.

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

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

    To read this article on Zacks.com click here.

    Zacks Investment Research

    Readers hoping to buy Southern Copper Corporation (NYSE:SCCO) for its dividend will need to make their move shortly, as the stock is about to trade ex-dividend. Typically, the ex-dividend date is one business day before the record date which is the date on which a company determines the shareholders eligible to receive a dividend. The ex-dividend date is important as the process of settlement involves two full business days. So if you miss that date, you would not show up on the company's books on the record date. Meaning, you will need to purchase Southern Copper's shares before the 9th of August to receive the dividend, which will be paid on the 26th of August.

    The company's next dividend payment will be US$0.60 per share, and in the last 12 months, the company paid a total of US$2.40 per share. Looking at the last 12 months of distributions, Southern Copper has a trailing yield of approximately 2.4% on its current stock price of US$99.49. If you buy this business for its dividend, you should have an idea of whether Southern Copper's dividend is reliable and sustainable. We need to see whether the dividend is covered by earnings and if it's growing.

    Check out our latest analysis for Southern Copper

    Dividends are usually paid out of company profits, so if a company pays out more than it earned then its dividend is usually at greater risk of being cut. Its dividend payout ratio is 79% of profit, which means the company is paying out a majority of its earnings. The relatively limited profit reinvestment could slow the rate of future earnings growth. It could become a concern if earnings started to decline. Yet cash flows are even more important than profits for assessing a dividend, so we need to see if the company generated enough cash to pay its distribution. Southern Copper paid out more free cash flow than it generated – 150%, to be precise – last year, which we think is concerningly high. We're curious about why the company paid out more cash than it generated last year, since this can be one of the early signs that a dividend may be unsustainable.

    While Southern Copper's dividends were covered by the company's reported profits, cash is somewhat more important, so it's not great to see that the company didn't generate enough cash to pay its dividend. Were this to happen repeatedly, this would be a risk to Southern Copper's ability to maintain its dividend.

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

    historic-dividendHave Earnings And Dividends Been Growing?

    Companies with consistently growing earnings per share generally make the best dividend stocks, as they usually find it easier to grow dividends per share. If earnings decline and the company is forced to cut its dividend, investors could watch the value of their investment go up in smoke. Fortunately for readers, Southern Copper's earnings per share have been growing at 12% a year for the past five years. Earnings have been growing at a decent rate, but we're concerned dividend payments consumed most of the company's cash flow over the past year.

    Many investors will assess a company's dividend performance by evaluating how much the dividend payments have changed over time. Southern Copper has delivered 14% dividend growth per year on average over the past 10 years. It's exciting to see that both earnings and dividends per share have grown rapidly over the past few years.

    To Sum It Up

    Should investors buy Southern Copper for the upcoming dividend? Earnings per share growth is a positive, and the company's payout ratio looks normal. However, we note Southern Copper paid out a much higher percentage of its free cash flow, which makes us uncomfortable. It might be worth researching if the company is reinvesting in growth projects that could grow earnings and dividends in the future, but for now we're not all that optimistic on its dividend prospects.

    With that being said, if dividends aren't your biggest concern with Southern Copper, you should know about the other risks facing this business. Our analysis shows 2 warning signs for Southern Copper and you should be aware of them before buying any shares.

    A common investing mistake is buying the first interesting stock you see. Here you can find a full list of high-yield dividend stocks.

    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.

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

    Lundin Mining Corporation (TSE:LUN) has announced that it will pay a dividend of $0.09 per share on the 11th of September. This makes the dividend yield 2.7%, which will augment investor returns quite nicely.

    Check out our latest analysis for Lundin Mining

    Lundin Mining's Dividend Is Well Covered By Earnings

    If the payments aren't sustainable, a high yield for a few years won't matter that much. Prior to this announcement, the company was paying out 121% of what it was earning, however the dividend was quite comfortably covered by free cash flows at a cash payout ratio of only 57%. Generally, we think cash is more important than accounting measures of profit, so with the cash flows easily covering the dividend, we don't think there is much reason to worry.

    Looking forward, earnings per share is forecast to rise exponentially over the next year. If recent patterns in the dividend continue, we could see the payout ratio reaching 53% which is fairly sustainable.

    historic-dividendLundin Mining's Dividend Has Lacked Consistency

    Even in its relatively short history, the company has reduced the dividend at least once. This suggests that the dividend might not be the most reliable. Since 2016, the dividend has gone from $0.0882 total annually to $0.259. This works out to be a compound annual growth rate (CAGR) of approximately 14% a year over that time. It is great to see strong growth in the dividend payments, but cuts are concerning as it may indicate the payout policy is too ambitious.

    Lundin Mining Might Find It Hard To Grow Its Dividend

    With a relatively unstable dividend, it's even more important to evaluate if earnings per share is growing, which could point to a growing dividend in the future. We are encouraged to see that Lundin Mining has grown earnings per share at 15% per year over the past five years. While EPS is growing at a decent rate, but future growth could be limited by the amount of earnings being paid out to shareholders.

    Our Thoughts On Lundin Mining's Dividend

    In summary, while it's good to see that the dividend hasn't been cut, we are a bit cautious about Lundin Mining's payments, as there could be some issues with sustaining them into the future. The company is generating plenty of cash, which could maintain the dividend for a while, but the track record hasn't been great. We would probably look elsewhere for an income investment.

    Investors generally tend to favour companies with a consistent, stable dividend policy as opposed to those operating an irregular one. However, there are other things to consider for investors when analysing stock performance. As an example, we've identified 2 warning signs for Lundin Mining that you should be aware of before investing. Looking for more high-yielding dividend ideas? Try our collection of strong dividend payers.

    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.

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

    VANCOUVER, BC, Aug. 2, 2024 /CNW/ – (TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") is pleased to announce the closing of an increase to its existing term loan ("Term Loan"), maturing on July 27, 2027, in the principal amount of $350 million, in connection with the previously announced closing of an additional nineteen percent (19%) interest in SCM Minera Lumina Copper Chile ("Lumina Copper"). See press release dated June 26, 2024 "Lundin Mining Exercises Option to Increase Ownership in Caserones to 70% and Receives Commitments to Increase the Term Loan by $350 Million".

    The Company has used the Term Loan to refinance the drawdown of the existing $1.75 billion revolving credit facility that was used to fund the upfront cash consideration of $350 million for the additional acquisition of nineteen percent (19%) of the issued and outstanding equity of Lumina Copper, which owns the Caserones copper-molybdenum mine in Chile.

    The Term Loan bears interest on US dollar denominated drawn funds at an annual rate equal to the Term Secured Overnight Financing Rate plus a credit spread adjustment plus an applicable margin of 1.60% to 2.65%, depending upon the Company's net leverage ratio. The Term Loan is unsecured, save and except for a charge over certain assets in the United States of America, and has similar covenants to the Company's existing $1.75 billion revolving credit facility.

    BMO Capital Markets, ING Capital LLC and The Bank of Nova Scotia have acted as Joint Lead Arrangers and Joint Bookrunners. Bank of Montreal is acting as Administrative Agent and Bank of Montreal, Canadian Imperial Bank of Commerce, ING Capital LLC and The Bank of Nova Scotia are acting as Co-Sustainability Structuring Agent. Bank of Montreal, The Bank of Nova Scotia, ING Capital LLC, Canadian Imperial Bank of Commerce, Fédération des Caisses Desjardins du Québec, The Toronto-Dominion Bank, Bank of America N.A., Royal Bank of Canada, Export Development Canada, National Bank of Canada, MUFG Bank Ltd, Canada Branch, and Citibank N.A., Canada Branch, acted as lenders.

    About Lundin Mining

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

    The information in this release is subject to the disclosure requirements of Lundin Mining under the Swedish Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact persons set out below on August 2, 2024 at 14:30 Vancouver Time.

    Cautionary Statement on Forward-Looking Information 

    Certain of the statements made and information contained herein is "forward-looking information" within the meaning of applicable Canadian securities laws. All statements other than statements of historical facts included in this document constitute forward-looking information, including but not limited to statements regarding the Company's plans, prospects and business strategies. Words such as "believe", "expect", "anticipate", "contemplate", "target", "plan", "goal", "aim", "intend", "continue", "budget", "estimate", "may", "will", "can", "could", "should", "schedule" and similar expressions identify forward-looking statements.

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

    Lundin Mining Announces Closing of $350 million Term Loan in Connection with the Caserones Option Exercise (CNW Group/Lundin Mining Corporation)

    SOURCE Lundin Mining Corporation

    Cision

    View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2024/02/c3122.html

    The analysts might have been a bit too bullish on Lundin Mining Corporation (TSE:LUN), given that the company fell short of expectations when it released its second-quarter results last week. Results showed a clear earnings miss, with US$1.1b revenue coming in 7.2% lower than what the analystsexpected. Statutory earnings per share (EPS) of US$0.16 missed the mark badly, arriving some 28% below what was expected. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. Readers will be glad to know we've aggregated the latest statutory forecasts to see whether the analysts have changed their mind on Lundin Mining after the latest results.

    See our latest analysis for Lundin Mining

    earnings-and-revenue-growth

    Taking into account the latest results, the consensus forecast from Lundin Mining's 17 analysts is for revenues of US$4.38b in 2024. This reflects a modest 7.5% improvement in revenue compared to the last 12 months. Statutory earnings per share are predicted to soar 217% to US$0.70. In the lead-up to this report, the analysts had been modelling revenues of US$4.49b and earnings per share (EPS) of US$0.72 in 2024. It's pretty clear that pessimism has reared its head after the latest results, leading to a weaker revenue outlook and a minor downgrade to earnings per share estimates.

    The analysts made no major changes to their price target of CA$17.44, suggesting the downgrades are not expected to have a long-term impact on Lundin Mining's valuation. The consensus price target is just an average of individual analyst targets, so – it could be handy to see how wide the range of underlying estimates is. There are some variant perceptions on Lundin Mining, with the most bullish analyst valuing it at CA$20.09 and the most bearish at CA$8.65 per share. This is a fairly broad spread of estimates, suggesting that analysts are forecasting a wide range of possible outcomes for the business.

    Looking at the bigger picture now, one of the ways we can make sense of these forecasts is to see how they measure up against both past performance and industry growth estimates. We can infer from the latest estimates that forecasts expect a continuation of Lundin Mining'shistorical trends, as the 16% annualised revenue growth to the end of 2024 is roughly in line with the 15% annual growth over the past five years. Compare this with the broader industry, which analyst estimates (in aggregate) suggest will see revenues grow 16% annually. It's clear that while Lundin Mining's revenue growth is expected to continue on its current trajectory, it's only expected to grow in line with the industry itself.

    The Bottom Line

    The most important thing to take away is that the analysts downgraded their earnings per share estimates, showing that there has been a clear decline in sentiment following these results. They also downgraded their revenue estimates, although as we saw earlier, forecast growth is only expected to be about the same as the wider industry. The consensus price target held steady at CA$17.44, with the latest estimates not enough to have an impact on their price targets.

    Keeping that in mind, we still think that the longer term trajectory of the business is much more important for investors to consider. At Simply Wall St, we have a full range of analyst estimates for Lundin Mining going out to 2026, and you can see them free on our platform here..

    We don't want to rain on the parade too much, but we did also find 2 warning signs for Lundin Mining that you need to be mindful of.

    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.

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

    China is weighing on copper prices, but surging demand for AI and electric vehicles and looming supply shortfalls should make FCX and TECK big winners.

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