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Teck Resources Ltd

Proceeds will go towards reducing debt, funding copper growth, and returning cash to shareholders

VANCOUVER, British Columbia, July 04, 2024 (GLOBE NEWSWIRE) — Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) today announced that the sale of its remaining 77% interest in the steelmaking coal business, Elk Valley Resources (“EVR”), to Glencore plc (“Glencore”) has now received all necessary regulatory approvals.

The transaction is now expected to close on July 11. Teck expects to receive total cash proceeds of US$6.9 billion (CAD $9.5 billion)1 from the sale of the 77% interest in EVR, excluding closing adjustments.

“We are pleased that we will achieve a complete separation of the metals and steelmaking coal businesses to position Teck for its next phase of growth and responsible value creation,” said Sheila Murray, Chair of the Board. “We are confident that our leadership team is executing the right strategy to maximize long-term value for shareholders and all stakeholders.”

“This transaction marks a new era for Teck as a company focused entirely on providing metals that are essential to global development and the energy transition,” said Jonathan Price, President and CEO. “Moving forward as a pure-play energy transition metals company, we will build on our core portfolio of strong, cash-generating assets through development of our near-term copper growth projects. Completion of this transaction will provide substantial funding for our projects, giving Teck a pathway to increase copper production by a further 30% as early as 2028.”

“This transaction will enable us to reduce debt and retain significant cash to fund our near-term metals growth and maintain a resilient balance sheet, while also providing a significant return of cash to our shareholders,” said Price.

Note:

1. All USD to CAD figures calculated at an exchange rate of 1.37.

Transaction Use of ProceedsSubject to closing of the transaction and consistent with Teck’s Capital Allocation Framework, Teck intends to allocate proceeds from the sale of the steelmaking coal business as follows:

1. Cash Return to Shareholders

Repurchase of up to US$2.0 billion (CAD$2.75 billion) of Class B subordinate voting shares.
Distribution of approximately US$182 million (CAD$250 million) through the declaration of an eligible dividend of CAD$0.50, to be declared by Teck’s Board of Directors on both the Class A common and Class B subordinate shares. The supplemental dividend is expected be paid on September 27, 2024, to shareholders of record at the close of business on September 13, 2024. This one-time supplemental dividend is in addition to the regular base quarterly dividend of $0.125 per share, for an expected total eligible dividend payable of $0.625 per share.
Total announced cash return to shareholders from the 100% sale of EVR of US$2.6 billion (CAD$3.5 billion).

2. Debt Reduction

Execute a debt reduction program of up to US$2.0 billion (CAD$2.75 billion), including the cash tender offer separately announced today to purchase US$1.25 billion aggregate principal amount of Teck’s outstanding public notes.

3. Well-Funded, Value-Accretive Copper Growth

Remaining proceeds, net of taxes and transaction costs, will be retained to fund near-term copper growth. Teck will continue to advance its near-term copper projects, including the Highland Valley Copper Mine Life Extension, Zafranal Project, San Nicolas Project and QB debottlenecking, with the first sanction decisions expected in 2025. The current estimated capital cost attributable to Teck for these projects is US$3.3 –$3.6 billion (CAD $4.5–$4.9 billion).

4. Taxes and Transaction Costs

Estimated US$750 million (CAD$1.0 billion) to pay taxes and transaction costs.

Value Creation: Executing on Copper Growth The completion of the sale of EVR positions Teck as an industry-leading energy transition metals producer, poised to unlock the value of its unrivalled copper growth portfolio.

Teck operates a premium portfolio of long-life, high-quality producing assets in stable and well-understood jurisdictions in the Americas. With the ramp up of QB in 2024, Teck expects to double its copper production to approximately 600,000 tonnes/year.

In parallel, Teck is employing a rigorous investment framework in executing on its near-term copper pipeline, including QB debottlenecking, the Highland Valley Copper Mine Life Extension, Zafranal Project and San Nicolas Project. These are relatively low-complexity projects, with competitive capital intensities and located in well-established mining jurisdictions, with sanctioning as early as 2025. Longer-term, Teck will progress a suite of meaningful brownfield and greenfield development options, including the Galore Creek project in B.C. and the potential expansion of Trail Operations to include an electric vehicle battery recycling facility.

This diverse pipeline of projects provides an ongoing value creation opportunity for shareholders with significant long-term growth potential, enabled by a resilient balance sheet and disciplined capital allocation.

Share Repurchase DetailThe share repurchase is to be completed under the normal course issuer bid (“NCIB”), subject to market conditions and receipt of applicable regulatory approvals in connection with the renewal of the NCIB in November 2024. Any repurchases following November 21, 2024, depend on regulatory approval of a renewed NCIB. The company will determine the timing of any purchases and may repurchase fewer or a greater number of shares, subject to market conditions, the requirements of the issuer bid program, and applicable securities laws.

AdvisorsBarclays Capital Canada Inc., Ardea Partners LP, TD Securities Inc., and CIBC World Markets Inc. served as financial advisors to Teck. Stikeman Elliott LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisors, and Felesky Flynn LLP served as legal tax advisor.

BMO Capital Markets, Goldman Sachs & Co. LLC, and Origin Merchant Partners served as financial advisors to the Special Committee and Blake, Cassels & Graydon LLP and Sullivan & Cromwell LLP served as legal advisors to the Special Committee.

Forward Looking StatementsThis news release contains certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to as forward-looking statements). These statements relate to future events or our future performance. All statements other than statements of historical fact are forward-looking statements. The use of any of the words “continue”, “estimate”, “expect”, “may”, “will”, “potential”, and similar expressions is intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These statements speak only as of the date of this news release.

These forward-looking statements include, but are not limited to, statements relating to the expected closing of the transaction, the timing of closing of the transaction; Teck’s business and assets and its strategy going forward, including with respect to future and ongoing project development; the expected use of proceeds, including the timing and format of any cash returns to shareholders; the anticipated benefits of the transaction; our ability to satisfy the conditions of closing; and other statements that are not historical facts.

Although we believe that the forward-looking statements in this news release are based on information and assumptions that are current, reasonable and complete, these statements are by their nature subject to a number of factors that could cause actual results to differ materially from management’s expectations and plans as set forth in such forward-looking statements, including, without limitation, the following factors, many of which are beyond our control and the effects of which can be difficult to predict: the possibility that the transaction does not close when expected or at all because of the occurrence of any event, change or other circumstances that could give rise to the right of one or both of the parties to terminate the transaction; the possibility that the anticipated benefits from the transaction are not realized in the time frame anticipated or at all as a result of changes in general economic and market conditions, including credit, market, currency, operational, commodity, liquidity and funding risks generally and relating specifically to the transaction; laws and regulations and their enforcement; the possibility that the business of Teck may not perform as expected or in a manner consistent with historical performance; reputational risks and the reaction of Teck’s customers, suppliers and employees to the transaction; the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; material adverse changes in economic and industry conditions; general competitive, economic, political and market conditions; and other risks inherent to our business and/or factors beyond Teck’s control which could have a material adverse effect on Teck or the ability to consummate the transaction or alter the currently expected use of proceeds from the transaction.

Inherent in forward-looking statements are risks and uncertainties beyond our ability to predict or control. Further information concerning risks, assumptions and uncertainties associated with these forward- looking statements and our business can be found in our most recent Annual Information Form filed under our profile on SEDAR+ (www.sedarplus.ca) and on EDGAR (www.sec.gov) under cover of Form 40-F, as well as subsequent filings that can also be found under our profile. We assume no obligation to update forward-looking statements except as required under securities laws.

About TeckTeck is a leading Canadian resource company focused on responsibly providing metals essential to economic development and the energy transition. Teck has a portfolio of world-class copper and zinc operations across North and South America and an industry-leading copper growth pipeline. We are focused on creating value by advancing responsible growth and ensuring resilience built on a foundation of stakeholder trust. Headquartered in Vancouver, Canada, Teck’s shares are listed on the Toronto Stock Exchange under the symbols TECK.A and TECK.B and the New York Stock Exchange under the symbol TECK. Learn more about Teck at www.teck.com or follow @TeckResources.

Investor Contact:Fraser PhillipsSenior Vice President, Investor Relations & Strategic Analysis604.699.4621fraser.phillips@teck.com

Media Contact:Dale SteevesDirector, Stakeholder Relations236.987.7405 dale.steeves@teck.com

Teck Resources Ltd

VANCOUVER, British Columbia, July 04, 2024 (GLOBE NEWSWIRE) — Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) today provided unaudited second quarter 2024 steelmaking coal sales volumes and realized prices.

Our second quarter steelmaking coal sales were 6.4 million tonnes, at the top end of our guidance of 6.0 – 6.4 million tonnes. The realized steelmaking coal price in the second quarter averaged US$237 per tonne. We expect to report a negative provisional pricing adjustment of $50 million in the second quarter.

Our second quarter 2024 financial results are scheduled for release on July 24, 2024.

About Teck As one of Canada’s leading mining companies, Teck is committed to responsible mining and mineral development with major business units focused on copper, zinc, and steelmaking coal. Copper, zinc and high-quality steelmaking coal are required for the transition to a low-carbon world. Headquartered in Vancouver, Canada, Teck’s shares are listed on the Toronto Stock Exchange under the symbols TECK.A and TECK.B and the New York Stock Exchange under the symbol TECK. Learn more about Teck at www.teck.com or follow @TeckResources.

Teck Investor ContactFraser PhillipsSenior Vice President, Investor Relations & Strategic Analysis604.699.4621fraser.phillips@teck.com

Teck Media ContactDale SteevesDirector, Stakeholder Relations604.699.4514dale.steeves@teck.com

Rio Tinto RIO has completed the construction of a 3.5-megawatt solar power plant at its Diavik Diamond Mine. It is the largest off-grid solar power plant in Canada’s northern territories. This initiative aligns with RIO’s global decarbonization objectives, which include a 50% reduction in Scope 1 & 2 emissions by 2030 and achievement of net-zero emissions by 2050.In line with this, RIO also announced plans to build two new 5.25MW solar farms in Gumatj and Rirratjingu country on the Gove Peninsula in Australia’s Northern Territory. They are expected to reduce the region’s annual diesel consumption by about 20% and lower annual carbon emissions by more than 12,000 tons.The solar plant at Diavik is equipped with 6,620 solar panels. In addition to harnessing direct sunlight, these bi-facial panels will generate energy from the light reflected off the snow that covers Diavik for the major part of the year. The plant is expected to generate around 4.2 million kilowatt-hours of carbon-free electricity annually. It will cut diesel consumption at the site by approximately 1 million liters per year. The plant is expected to lower emissions by 2,900 tons of CO2 equivalent, which is almost the same as eliminating the emissions of 630 cars.The solar power plant adds to Diavik’s efforts to boost renewable energy generation at the site. It already features a wind power plant that is the largest wind power installation in Northern Canada. The wind plant has generated more than 195 million kilowatt-hours of electricity since it started operating in 2012, cutting 118,000 tons of CO2 emissions and saving the equivalent of 43.4 million liters of diesel fuel.In 2023, Rio Tinto’s Scope 1 and 2 emissions were 32.6Mt CO2e, which marked a reduction of 5.5% from its 2018 baseline. The company spent $130 million on decarbonization projects during 2023.Rio Tinto plans to invest capital in the range of $5- $6 billion by 2030 to deliver on its decarbonization strategy. The company has made some advancements in its sustainability efforts during the first half of fiscal 2024.Recently, the company announced that it is set to install carbon-free aluminum smelting cells at its Arvida smelter in Québec, Canada, utilizing the first technology license issued by the ELYSIS joint venture. The groundbreaking ELYSIS technology aims to eliminate all direct greenhouse gases from the conventional aluminum smelting process, by producing oxygen as a byproduct, while improving efficiency by producing more aluminum at lower costs.Rio Tinto is also investing $143 million to develop a research and development facility in Western Australia to test the effectiveness of its breakthrough low-carbon ironmaking process, BioIron.In May 2024, Rio Tinto and BHP Group BHP joined forces to trial large battery-powered haul trucks manufactured by Caterpillar CAT and Komatsu KMTUY in the Pilbara region of Western Australia.

The trials will kick off in the second half of 2024 with two Cat 793 haul trucks. This will be followed by two Komatsu 930 haul trucks in 2026. BHP will trial the Caterpillar trucks, while Rio Tinto will test the Komatsu trucks. This collaboration between two leading global miners with two of the world’s largest haul truck manufacturers also seeks to address the critical challenge of zero-emissions haulage.BHP Group is also pursuing its long-term goal of net zero Scope 3 GHG emissions by 2050. The company expects to cut down operational GHG emissions by at least 30% from 2020 levels by 2030.In fiscal 2023, BHP spent $122 million on initiatives associated with emission reductions, in areas such as steelmaking and shipping. From fiscal 2024 to 2030, the company expects to spend around $4 billion on operational decarbonization, with plans reflecting an annual capital allocation between approximately $250 million and $950 million per year over the next five years.

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In the past year, shares of Rio Tinto have gained 4.7% against the industry’s 2.4% decline.Rio Tinto currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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BHP Group BHP has submitted an Environmental Impact Statement to Chile's environmental regulator to seek approval to build an electric trolley system that will assist in the movement of trucks at the Escondida mine. This $250-million project will help cut down the fuel consumption of BHP’s extraction trucks and also advance its goal of achieving net-zero operational greenhouse gas emissions by 2050.The project entails the construction of an electrical substation and transmission lines within and around the Escondida Norte pit. These facilities will electrically assist in the movement of the trucks in the mine. This will be more beneficial in the areas where the trucks have to ascend loaded with ore and typically consume more fuel.With this new technology, the trucks will be propelled by electrical power instead of diesel. Overall, the implementation of this system will cut down operational greenhouse gas emissions while improving productivity associated with truck performance given the higher travel speed.Escondida, located in the Atacama Desert in Northern Chile, is the world's largest producer of copper concentrates and cathodes. BHP operates and owns 57.5% of the Escondida mine, a joint venture with Rio Tinto RIO (30%) and Japan-based JECO Corp (12.5%). Escondida’s two pits feed three concentrator plants and two leaching operations (oxide and sulphide). The trolley project is in addition to other technological transformation initiatives that the company currently has for the progressive incorporation of autonomy in its mining process. Escondida currently operates six autonomous trucks. By 2025, it expects to have the largest fleet of autonomous equipment in South America.Carbon emissions from the combustion of diesel account for a major part of BHP’s Scope 1 and 2 emissions. The company is, thus, focused on initiatives to replace diesel from its operations. This will require a complete overhaul of the mining operations.To this end, BHP and Rio Tinto, in May 2024, announced that they will trial large battery-powered haul trucks manufactured by Caterpillar Inc. CAT and Komatsu KMTUY in the Pilbara region of Western Australia. This testing aims to accelerate the potential deployment of these trucks.The trials will kick off in the second half of 2024 with two Cat 793 haul trucks. This will be followed by two Komatsu 930 haul trucks in 2026. BHP will trial the Caterpillar trucks while Rio Tinto will test the Komatsu trucks. In 2021, Rio Tinto and BHP worked with both Caterpillar and Komatsu to support the development and validation of their prototype battery-electric haul trucks.Based on the findings of these tests, Caterpillar and Komatsu will be able to work on refining their truck and battery design. This will likely pave the way for the testing of a larger number of haul trucks and ultimately, the potential deployment of battery-run haul truck fleets into RIO’s and BHP’s mining operations.This collaboration between two leading global miners with two of the world’s largest haul truck manufacturers marks a significant step toward addressing the critical challenge of zero-emissions haulage.

Price Performance

BHP shares have dipped 2.1% in a year against the industry’s 0.4% growth.

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

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(Reuters) -BHP Group has notified tens of thousands of its workers across the globe that it was cutting their incentive pay after the miner failed to meet its performance goals, the Australian Financial Review reported on Thursday.

The world's largest listed miner will only pay 80% of short-term incentives that were on offer in 2023-24, the AFR reported, citing BHP's employees.

"The docking of incentives has upset some BHP employees who contacted the Australian Financial Review pointing to hiring freezes in some divisions that impacted the ability to hit targets and what they see as unrealistic internal goals," the report said.

These incentives apply to all of BHP's workers and can add up to about 15% of their salaries, according to the report.

The company's leadership cited misses on cost and production targets across some of its divisions, as well as the death of a worker at its Saraji coal mine in Queensland in January as the reason behind the incentive cuts, the AFR reported.

Moreover, workers at BHP's Queensland coal division will receive only 70% of their incentives, the report added, following two production forecast downgrades and the fatality.

This incentive cut comes at a time when Australia's Mining and Energy Union has filed for "same job same pay" orders covering labour-hire workers at BHP's Queensland coal mines, which, if successful, would further weigh on its expenses.

The miner reported in February that its first-half profit was hit by an impairment charge worth $2.5 billion related to its Western Australia nickel business. It also said some global corporate teams were being disbanded in an effort to cut costs.

The company has also failed to meet its target of 3% year-on-year growth in the number of female employees to meet its goal of gender balance by 2025, according to the AFR.

However, BHP said in February it became the first miner in Chile to cross 40% female representation, more than doubling the national industry average.

BHP did not immediately respond to a Reuters request for comment.

(Reporting by Aaditya Govind Rao in Bengaluru; Editing by Savio D'Souza and Anil D'Silva)

BHP Group Limited

Electric trolley system at a mine site

A trolley to electrically assist the movement of extraction trucks.

The project will allow the mining company to advance BHP's global target of net zero operating greenhouse gas emissions by 2050.

It considers an investment of approximately US$ 250 million for the installation of infrastructure that will electrically assist the movement of extraction trucks, in areas where the highest fuel consumption currently takes place.

SANTIAGO, Chile, July 03, 2024 (GLOBE NEWSWIRE) — Escondida | BHP submitted an Environmental Impact Statement (DIA) to the Environmental Impact Assessment System (SEIA), to advance in the "Implementation of the Mining Truck Electrification System in Escondida Norte" project, which seeks to assist the movement of these pieces of equipment inside the mine by means of a trolley system.

The project includes the construction of a new electrical substation and transmission lines both inside and around the Escondida Norte pit. These facilities will electrically assist the movement of trucks inside the mine in the areas where they go up loaded with ore and, consequently, consume more fuel. With this new technology, instead of using diesel, they will be propelled by electrical power, thus reducing the operational greenhouse gas emissions and improving productivity associated with truck performance given the higher travel speed.

About the project, President of Escondida | BHP, Alejandro Tapia, said that "the electric trolley system is one of the initiatives with which we seek to move towards a safer and more sustainable way of operating hand in hand with technology. This project will allow us to reduce the fuel consumption of our extraction trucks and thus advance our goal of net zero operational greenhouse gas emissions by 2050."

The initiative considers an investment of approximately US$ 250 million and during its construction phase an approximate workforce of 112 people on average per day and a maximum of 160 people will be required.

The trolley project is in addition to other technological transformation initiatives that the company maintains in different stages of study and execution, including the progressive incorporation of autonomy in its mining equipment. To date, Escondida | BHP has six autonomous trucks in full operation and by 2025 it expects to have the largest fleet of autonomous equipment in South America.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a4d97b96-b422-47c6-bf27-54fb97871d83

CONTACT: Josie Brophy, BHP Media Relations josephine.brophy@bhp.com

By Divya Rajagopal, Surbhi Misra and Mrinmay Dey

(Reuters) -The Canadian government has approved Glencore's $6.93 billion acquisition of miner Teck Resources' steelmaking coal unit with strict conditions to preserve jobs, the country's industry minister said on Thursday.

To secure the approval, Glencore has agreed to maintain Canadian headquarters for Elk Valley Resources (EVR) for at least 10 years, ensure a majority of the directors of EVR are Canadians, and maintain significant employment levels at EVR for no less than five years, the ministry said.

In a separate statement, Teck said it would use the deal proceeds to buy back up to C$2.75 billion ($2 billion) of its Class B subordinate voting shares, reduce its debt by up to $2 billion and fund near-term copper growth.

The miner said it expects the deal to close by July 11.

"Today I approved under strict conditions a much narrower transaction whereby Glencore will acquire Teck Resources metallurgical coal business," Industry Minister Francois-Philippe Champagne said in a statement.

He flagged that going forward Canada will set a high bar on net-benefit reviews when assessing mergers and acquisitions of important Canadian companies in the critical minerals space.

"Henceforth, such transactions will only be found of net benefit in the most exceptional of circumstances," Champagne said.

Glencore CEO Gary Nagle said in a statement the company has made significant commitments to the Canadian government to ensure the transaction benefits Canada and British Columbia in the long term.

In November, a Glencore-led consortium sealed one of the mining sector's biggest deals, agreeing to acquire Teck Resources steelmaking coal unit for $9 billion.

Swiss miner Glencore will get 77% of the business in a $6.9 billion cash deal, while 20% will go to Japan's Nippon Steel, which already holds a 2.5% stake.

South Korea's POSCO will swap a stake in two of Teck's coal operations for 3% in the steelmaking coal business Elk Valley Resources.

($1 = 1.3610 Canadian dollars)

(Reporting by Divya Rajagopal in Toronto, Surbhi Misra in Bengaluru; Additional reporting by Nilutpal Timsina; Editing by Alistair Bell and Sonali Paul)

SANTIAGO (Reuters) – Australian mining company BHP requested a permit to build a $250 million electric trolley system at its Escondida copper mine from Chile's environmental regulator, the firm said on Wednesday.

The planned project includes the installation of a trolley system to assist the transit of mining trucks in areas with high fuel consumption, according to a company statement.

"This project will allow us to reduce fuel consumption from our extraction trucks, and as a result move towards our net zero greenhouse gas emissions goal in our operations by 2050," said BHP Escondida's chief Alejandro Tapia.

(Reporting by Fabian Cambero; Writing by Kylie Madry and Stéphanie Hamel; Editing by David Alire Garcia)

(Bloomberg) — Anglo American Plc is considering options to push ahead with a sale of its coal business after an explosion at its flagship Australian mine, including the possibility of selling individual assets or excluding the damaged operation from a potential deal.

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If you're looking for a multi-bagger, there's a few things to keep an eye out for. Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's amount of capital employed. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. And in light of that, the trends we're seeing at Alphamin Resources' (CVE:AFM) look very promising so lets take a look.

Understanding Return On Capital Employed (ROCE)

For those that aren't sure what ROCE is, it measures the amount of pre-tax profits a company can generate from the capital employed in its business. Analysts use this formula to calculate it for Alphamin Resources:

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

0.26 = US$114m ÷ (US$544m – US$105m) (Based on the trailing twelve months to March 2024).

So, Alphamin Resources has an ROCE of 26%. That's a fantastic return and not only that, it outpaces the average of 1.0% earned by companies in a similar industry.

See our latest analysis for Alphamin Resources

roce

In the above chart we have measured Alphamin Resources' prior ROCE against its prior performance, but the future is arguably more important. If you'd like to see what analysts are forecasting going forward, you should check out our free analyst report for Alphamin Resources .

How Are Returns Trending?

The fact that Alphamin Resources is now generating some pre-tax profits from its prior investments is very encouraging. Shareholders would no doubt be pleased with this because the business was loss-making five years ago but is is now generating 26% on its capital. Not only that, but the company is utilizing 77% more capital than before, but that's to be expected from a company trying to break into profitability. This can tell us that the company has plenty of reinvestment opportunities that are able to generate higher returns.

On a side note, we noticed that the improvement in ROCE appears to be partly fueled by an increase in current liabilities. Effectively this means that suppliers or short-term creditors are now funding 19% of the business, which is more than it was five years ago. It's worth keeping an eye on this because as the percentage of current liabilities to total assets increases, some aspects of risk also increase.

The Bottom Line On Alphamin Resources' ROCE

Long story short, we're delighted to see that Alphamin Resources' reinvestment activities have paid off and the company is now profitable. And a remarkable 480% total return over the last five years tells us that investors are expecting more good things to come in the future. So given the stock has proven it has promising trends, it's worth researching the company further to see if these trends are likely to persist.

On a separate note, we've found 2 warning signs for Alphamin Resources you'll probably want to know about.

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

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

We recently compiled a list of the 10 Best Lithium and Battery Stocks to Buy Now. In this article, we are going to take a look at where Sociedad Química y Minera de Chile S.A. (NYSE:SQM) stands against the other lithium and battery stocks.

The pivotal role that lithium is playing in the market of batteries, solar panels, and chemicals has resulted in a surge in its global demand, and as such, the lithium market has seen quite a growth in recent years; the market is set to grow from $8.8 billion market size in 2023 to hit $28.45 billion mark in 2033, boasting a CAGR of 12.5%, according to Precedence Research.

On the other hand, the global electric vehicles market size is set to reach $1.579 trillion by 2030 from its market size of $500.48 billion in 2023. This is so because of improved fuel economy and costs, and more importantly, reduced emissions from electric vehicles. Furthermore, according to the International Energy Agency’s (IEA) forecast, global electric car sales are set to grow to 17 million by the end of 2024 from its sales volume of almost 14 million in 2023, 95% of which belonged to China, U.S. and Europe; 65% of new electric cars’ registrations were made in China in 2023, while 25% and 10% registrations were made in Europe and China, respectively! On the back of this, lithium demand and hence, consumption, is set to soar 16% per annum to help it grow from 1,219kt lithium carbonate equivalent (LCE) in 2024 to 2,261kt LCE in 2029, according to Techopedia.

The EV batteries market, 95% of whose growth is accounted for by the electric cars market, saw its demand growing 40% in 2023 in relation to the 2022 demand level, wherein, it grew to 750 GWh. Regions like China, Europe, and the U.S. are again, the fastest growing in terms of EV battery sales as well, as the EV battery market reached 415 GWh, 185 GWh, and 100 GWh in the three regions, respectively, according to IEA.

In terms of regions that are topping the charts of lithium production, Australia, Chile, and China are the top three countries, with their 2023 mine productions standing at levels of 86,000 MT, 44,000 MT, and 33,000 MT, respectively. China, which has relied a lot on lithium imports, found a million metric ton lithium reserve in its province of Sichuan in January 2024.

However, lithium and EV battery industries have been experiencing a downhill in 2024 in terms of raw material prices, wherein, the excess supply has resulted in a fall in various battery metals’ prices, resulting in a reduction in EV prices as well. The average price of an EV in the U.S. saw a downtick of 24.2% in December 2023, as compared to its peak price in the second quarter of 2022. This is on the back of a drop in prices of the highest-cost metals – lithium and nickel. Lithium carbonate ended 2023 at the price level of $13,575 per metric ton, falling 80.9% as compared to its 2023 high, and 81.4% in relation to its 2022 high. Nickel, on the other hand, saw its price falling 47.3% from its 2023 high, ending 2023 at $16,375 per ton.

Methodology

We created this list of 10 Best Lithium and Battery Stocks to Buy Now by listing down companies that operate within the broader market of metals, pertaining specifically to areas of lithium mining, battery sales, and tech relating to batteries. Then, we narrowed down the companies, with their respective upside potential and then ranked the stocks on the number of hedge fund investors in the respective stocks, as of Q1, 2024, using Insider Monkey’s database that tracks 920 hedge funds.

For stocks with an equal number of hedge fund holders, we used their upside potential as the tiebreaker. With this, we now present to you our list of 10 Best Lithium and Battery Stocks to Buy Now.

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

A laboratory technician pouring a specialty blend of industrial chemicals into a beaker.

Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Number of hedge fund investors: 13

Sociedad Química y Minera de Chile S.A. (NYSE:SQM) is one of the biggest lithium producers, along with being a producer of plant nutrients and iodine as well.

For the full year 2023, the company recorded a net income of $2 billion, while the EPS was recorded at $7; while their revenue was down in value terms, the volume sales saw an uptick of 10%, selling 170,000 metric tons. Following is what was disclosed by the CEO regarding the company’s lithium segment after the end of Q1 2024:

“In the lithium business, as detailed below, we have completed the new expansion of our lithium carbonate facility in Chile, reaching 210,000 metric tons per year, and continued to work on a series of initiatives related to efficiency, quality, and process improvements to expand this production capacity to 240,000 metric tons per year in 2025, thus adding incremental 30,000 metric tons per year of lithium carbonate capacity. Our lithium hydroxide capacity (conversion from lithium carbonate) has reached 40,000 metric tons per year and we remain on track to increase our total lithium hydroxide capacity in Chile to 100,000 metric tons per year in 2025.”

Hedge fund investors’ investments in the stock total $20.5 million, with Bronte Capital having the biggest chunk in it, worth $7.1 million. The current share price of the stock, $40.84, is expected to increase to $62.55, based on analysts’ opinion and that would mean an upside potential of the stock being astonishing 53.2%, explaining why the stock is here in our list of Best Lithium and Battery Stocks to Buy Now.

Overall SQM ranks 7th on our list of the best lithium and battery stocks to buy. You can visit 10 Best Lithium and Battery Stocks to Buy Now to see the other lithium and battery stocks that are on hedge funds’ radar. While we acknowledge the potential of SQM as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than SQM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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

Key Insights

The considerable ownership by individual investors in Lindian Resources indicates that they collectively have a greater say in management and business strategy
A total of 11 investors have a majority stake in the company with 51% ownership
Insiders have bought recently

To get a sense of who is truly in control of Lindian Resources Limited (ASX:LIN), it is important to understand the ownership structure of the business. The group holding the most number of shares in the company, around 46% to be precise, is individual investors. That is, the group stands to benefit the most if the stock rises (or lose the most if there is a downturn).

While individual investors were the group that benefitted the most from last week’s AU$52m market cap gain, insiders too had a 35% share in those profits.

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

See our latest analysis for Lindian Resources

ownership-breakdownWhat Does The Lack Of Institutional Ownership Tell Us About Lindian Resources?

We don't tend to see institutional investors holding stock of companies that are very risky, thinly traded, or very small. Though we do sometimes see large companies without institutions on the register, it's not particularly common.

There are multiple explanations for why institutions don't own a stock. The most common is that the company is too small relative to funds under management, so the institution does not bother to look closely at the company. On the other hand, it's always possible that professional investors are avoiding a company because they don't think it's the best place for their money. Institutional investors may not find the historic growth of the business impressive, or there might be other factors at play. You can see the past revenue performance of Lindian Resources, for yourself, below.

earnings-and-revenue-growth

Lindian Resources is not owned by hedge funds. Because actions speak louder than words, we consider it a good sign when insiders own a significant stake in a company. In Lindian Resources' case, its Top Key Executive, Asimwe Matungwa Kabunga, is the largest shareholder, holding 11% of shares outstanding. Meanwhile, the second and third largest shareholders, hold 8.8% and 6.8%, of the shares outstanding, respectively.

Looking at the shareholder registry, we can see that 51% of the ownership is controlled by the top 11 shareholders, meaning that no single shareholder has a majority interest in the ownership.

While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. There is some analyst coverage of the stock, but it could still become more well known, with time.

Insider Ownership Of Lindian Resources

While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves.

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

It seems insiders own a significant proportion of Lindian Resources Limited. Insiders have a AU$63m stake in this AU$179m business. This may suggest that the founders still own a lot of shares. You can click here to see if they have been buying or selling.

General Public Ownership

The general public– including retail investors — own 46% 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.

Private Company Ownership

Our data indicates that Private Companies hold 19%, of the company's shares. Private companies may be related parties. Sometimes insiders have an interest in a public company through a holding in a private company, rather than in their own capacity as an individual. While it's hard to draw any broad stroke conclusions, it is worth noting as an area for further research.

Next Steps:

I find it very interesting to look at who exactly owns a company. But to truly gain insight, we need to consider other information, too. For example, we've discovered 4 warning signs for Lindian Resources (3 are a bit unpleasant!) that you should be aware of before investing here.

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@simplywallst.com

We recently compiled a list of the 10 Best Potash Stocks to Buy. In this article, we are going to take a look at where Sociedad Química y Minera de Chile S.A. (NYSE:SQM) stands against the other potash stocks.

Global Potash Market: Rising Demand, Key Players, and Future Growth Projections

Potash encompasses various minerals rich in potassium, primarily potassium chloride (muriate of potash), which dominates the global market. Other compounds like sulfate of potash make up the remainder of the market. As the world's population is expected to reach over 9.7 billion by 2050, the need for potash-based fertilizers will only continue to rise.

The agricultural sector uses more than 95% of the world's potash production, with the remainder going toward commercial and industrial goods like detergents. The US Geological Survey states that historically, a third of the world's potash supply has come from Russia and Belarus combined.

In addition to phosphate and nitrogen, potash is necessary for crop health and is vital for plant growth. However, intensive farming depletes potash reserves, making synthetic fertilizers necessary. Potash prices skyrocketed as a result of the conflict between Russia and Ukraine, reaching a high of over $1200 per metric ton in April 2022 before falling to $328 per metric ton, which is still more than pre-Covid levels. As a result, nations like the US, Brazil, and Morocco have looked for substitute suppliers to lessen their dependency on Belarus and Russia. Grants have also been issued by the US to increase regional fertilizer production. You can also see our post on the top fertilizer stocks to purchase based on hedge funds' 10 Best Fertilizer Stocks to Buy According to Hedge Funds for further information.

The global potash market was valued at USD 57.74 billion in 2022 and is expected to grow at a CAGR of 4.9% from 2023 to 2032, reaching USD 93.50 billion by 2032. The potassium chloride product segment dominated the market with a revenue share of 52.7% in 2022, driven by the surge in agricultural activities. The top 15 national fertilizer markets consume 78% of global potash, while 133 countries consume only 5%. Major players in the potash market include JSC Belaruskali, Compass Minerals, Mosaic Company, Uralkali, and Rio Tinto.

Our Methodology

To rank the 10 best potash stocks, we first conducted sampling, and gathered potash stocks from relevant ETFs. We the narrowed down further based on high upside potential, strong buy analyst recommendations, and large market capitalizations. From this list, we then ranked the top 10 potash stocks according to the number of hedge fund holders in Q1 2024.

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

A laboratory technician pouring a specialty blend of industrial chemicals into a beaker.

Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Number of Hedge Fund Holders: 13

Sociedad Química y Minera de Chile S.A. (NYSE:SQM) is one of the top potash stocks to buy. Analysts remain bullish on SQM, citing the company's strong position in the lithium market and growing demand for electric vehicles. Sociedad Quimica Y Minera SA (SQM) has received a moderate buy rating from 6 Wall Street analysts. The average price target is $56.05, ranging from $45.00 to $70.00, indicating an upside potential 35.13% increase from the current price of $41.48. In Q1 2024, there were 13 hedge fund holders in the company.

Overall SQM ranks 9th on our list of the best potash stocks to buy. You can visit 10 Best Potash Stocks to Buy to see the other potash stocks that are on hedge funds’ radar. While we acknowledge the potential of SQM as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than SQM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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

We recently compiled a list of the 10 Best Potash Stocks to Buy. In this article, we are going to take a look at where FMC Corporation (NYSE:FMC) stands against the other potash stocks.

Global Potash Market: Rising Demand, Key Players, and Future Growth Projections

Our Methodology

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

A laboratory technician carefully mixing chemicals in a laboratory.

FMC Corporation (NYSE:FMC)

Number of Hedge Fund Holders: 32

FMC Corporation (NYSE:FMC) is a leading global agricultural sciences company that provides innovative solutions to growers around the world. The company develops and manufactures crop protection products, plant health management solutions, and professional pest and turf management products. Fourteen Wall Street analysts have given FMC Corporation a Moderate Buy rating based on their most recent projections. With a range of $50.00 to $90.00, the average price target is $68.54. Based on this average, the current price of $57.08 may potentially rise by 20.08%.

In Q1 2024, 32 hedge funds held positions in the company, up from 31 in the previous quarter. Millenium Management held the largest position in the company with 1,916,454 shares worth $122,078,120, comprising 0.05% of the company’s total portfolio.

Overall FMC ranks 5th on our list of the best potash stocks to buy. You can visit 10 Best Potash Stocks to Buy to see the other potash stocks that are on hedge funds’ radar. While we acknowledge the potential of FMC as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than FMC but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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

We recently compiled a list of the 10 Best Potash Stocks to Buy. In this article, we are going to take a look at where BHP Group Limited (NYSE:BHP) stands against the other potash stocks.

Global Potash Market: Rising Demand, Key Players, and Future Growth Projections

Our Methodology

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

An aerial view of a mining operation in action, with large trucks and yellow diggers.

BHP Group Limited (NYSE:BHP)

Number of Hedge Fund Holders: 25

BHP Group Limited (NYSE:BHP) is one of the world's largest diversified mining companies, with operations spanning various commodities including copper, iron ore, coal, nickel, and potash. BHP announced a $7.7 billion investment in its Jansen potash project in Canada in November 2023, set to become one of the world's largest potash mines. BHP Group has received a Moderate Buy rating from 7 Wall Street analysts based on recent forecasts. The average price target is $57.34, ranging from $35.36 to $68.00. This average suggests a marginal 1.06% change from the current price of $56.74.

In Q1 2024, there were 25 hedge fund holders in the company, up from 24 in the previous quarter. Fisher Asset Management held the largest position in the company with 20,501,178 shares worth $1,182,712,992, comprising 0.55% of the company’s total portfolio.

In the first half of 2024 (HY24), BHP Group Limited (NYSE:BHP) reported revenues of $27.2 billion, marking a 6% year-over-year increase driven by higher iron ore and copper prices. Profit after taxation reached $1.7 billion, with $927 million attributable to BHP shareholders. BHP achieved a 7% rise in copper production and maintained strong operational performance at its Western Australia Iron Ore operations. The company declared an interim dividend of 72 US cents per share.

Overall BHP ranks 7th on our list of the best potash stocks to buy. You can visit 10 Best Potash Stocks to Buy to see the other potash stocks that are on hedge funds’ radar. While we acknowledge the potential of BHP as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than BHP but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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

We recently compiled a list of the 10 Best Potash Stocks to Buy. In this article, we are going to take a look at where Compass Minerals International, Inc. (NYSE:CMP) stands against the other potash stocks.

Global Potash Market: Rising Demand, Key Players, and Future Growth Projections

Our Methodology

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

A close up of an essential mineral being extracted from a large rock wall.

Compass Minerals International, Inc. (NYSE:CMP)

Number of Hedge Fund Holders: 25

Global provider of vital minerals, Compass Minerals International, Inc. (NYSE:CMP) was founded in 1844 and has its headquarters located in Overland Park, Kansas. Its two primary business sectors are Plant Nutrition, which sells sulfate of potassium (SOP) products for use as agricultural inputs, and Salt, which makes deicing salt for highways.

Compass Minerals International, Inc. (NYSE:CMP) holds a portfolio of cost-advantaged assets, including the Ontario rock salt mine and brine operations at the Great Salt Lake in Utah, which can provide a competitive edge. Compass Minerals International has received a Moderate Buy rating from 4 Wall Street analysts based on recent forecasts. The average price target is $17.00, with a range from $13.00 to $23.00. This average implies a potential 60.53% increase from the current price of $10.59. In Q1 2024, there were 25 hedge fund holders in the company, up from 14 in the previous quarter. Select Equity Group held the largest position in the company with 2,944,721 shares worth $46,349,909, comprising 0.16% of the fund’s total portfolio.

Overall CMP ranks 6th on our list of the best potash stocks to buy. You can visit 10 Best Potash Stocks to Buy to see the other potash stocks that are on hedge funds’ radar. While we acknowledge the potential of CMP as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than CMP but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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

It hasn't been the best quarter for Legacy Iron Ore Limited (ASX:LCY) shareholders, since the share price has fallen 20% in that time. But that doesn't change the fact that shareholders have received really good returns over the last five years. Indeed, the share price is up an impressive 140% in that time. Generally speaking the long term returns will give you a better idea of business quality than short periods can. Of course, that doesn't necessarily mean it's cheap now. Unfortunately not all shareholders will have held it for the long term, so spare a thought for those caught in the 40% decline over the last twelve months.

So let's assess the underlying fundamentals over the last 5 years and see if they've moved in lock-step with shareholder returns.

View our latest analysis for Legacy Iron Ore

Because Legacy Iron Ore made a loss in the last twelve months, we think the market is probably more focussed on revenue and revenue growth, at least for now. Generally speaking, companies without profits are expected to grow revenue every year, and at a good clip. Some companies are willing to postpone profitability to grow revenue faster, but in that case one would hope for good top-line growth to make up for the lack of earnings.

For the last half decade, Legacy Iron Ore can boast revenue growth at a rate of 91% per year. That's well above most pre-profit companies. Meanwhile, its share price performance certainly reflects the strong growth, given the share price grew at 19% per year, compound, during the period. So it seems likely that buyers have paid attention to the strong revenue growth. Legacy Iron Ore seems like a high growth stock – so growth investors might want to add it to their watchlist.

The graphic below depicts how earnings and revenue have changed over time (unveil the exact values by clicking on the image).

earnings-and-revenue-growth

Take a more thorough look at Legacy Iron Ore's financial health with this free report on its balance sheet.

What About The Total Shareholder Return (TSR)?

Investors should note that there's a difference between Legacy Iron Ore's total shareholder return (TSR) and its share price change, which we've covered above. Arguably the TSR is a more complete return calculation because it accounts for the value of dividends (as if they were reinvested), along with the hypothetical value of any discounted capital that have been offered to shareholders. Legacy Iron Ore hasn't been paying dividends, but its TSR of 227% exceeds its share price return of 140%, implying it has either spun-off a business, or raised capital at a discount; thereby providing additional value to shareholders.

A Different Perspective

While the broader market gained around 13% in the last year, Legacy Iron Ore shareholders lost 40%. However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. On the bright side, long term shareholders have made money, with a gain of 27% per year over half a decade. It could be that the recent sell-off is an opportunity, so it may be worth checking the fundamental data for signs of a long term growth trend. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. For instance, we've identified 4 warning signs for Legacy Iron Ore (1 shouldn't be ignored) that you should be aware of.

If you would prefer to check out another company — one with potentially superior financials — then do not miss this free list of companies that have proven they can grow earnings.

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

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

In this article, we will take a look at the Largest Uranium Producing Country in the World. We have also compiled a full free list of the 12 Largest Uranium Producing Countries in the World.

The Rising Uranium Market: A Powerhouse for Nuclear Energy and Global Growth

Uranium is a naturally occurring radioactive element found in the earth’s crust that is necessary for the creation of nuclear energy. Due to its high radioactivity and long half-life, uranium is not only used as a fuel in nuclear reactors but is also an essential component in the manufacture of nuclear bombs and warheads. The global uranium market was valued at $2,736.31 million in 2022 and it is projected to reach an impressive valuation of $3,398.52 million by the year 2028. The uranium market is forecast to grow at a compound annual growth rate of 3.68% during the forecast period of 2023 to 2028, according to a report on 360 Market Updates. This market is expected to expand given the rise in demand for the heavy metal. Moreover, the demand for uranium in nuclear reactors is forecast to increase at a rate of 28% by the year 2030, with the main reason for the increased demand being the government’s aims to achieve net-zero targets globally. With an expected increase of 14% in nuclear capacity by 2030 and an expected increase of 76% by the year 2040, the demand for uranium is going to show an upward trajectory in the coming years.

As evident, increased demand leads to a surge in prices. Uranium prices grew by 50% across the globe in 2023. Some of the factors, other than the increase in demand that contributed to the price increase, were supply chain disruptions, long-term contracting, and the boost in producer activity by traditional and ancillary players. What started off at $50 in the beginning of 2023, gradually increased to $60 in September, and then just a few weeks after September, uranium prices jumped to the $70s. To meet the rising demand, and to capitalize on the growing prices, companies are also increasing their production for uranium. Global uranium production is expected to grow by 11.7% to more than 60.3 kilotons (kt) in 2024, according to a report by Mining.com. Some of the companies leading uranium production are Cameco Corporation (NYSE:CCJ) and BHP Group Limited (NYSE:BHP).

Cameco Corporation (NYSE:CCJ)

Cameco Corporation (NYSE:CCJ) is a Canadian mining company that accounts for almost 17% of the global production. The company had the second-highest production of uranium in 2022, amounting to 5,675 tons. One of Cameco Corporation’s operating areas is the McArthur River Uranium Mine, which boasts the world’s largest high-grade uranium deposit with proven reserves of 265.5 million pounds as of 2023.

During the financial year 2023, Cameco Corporation (NYSE:CCJ) reported revenue of $2,588 million, showing a growth rate of almost 39% from the prior year when the revenue stood at $1,868 million. The company’s gross profit, however, had an increase of more than 100% as it grew from $233 million in 2022 to $562 million in 2023.

BHP Group Limited (NYSE:BHP)

BHP Group Limited (NYSE:BHP) is a prominent Australian multinational mining and metals public company with corporate headquarters located in Melbourne, Australia. As one of the biggest uranium-producing companies in the world, BHP Group Limited (NYSE:BHP) accounted for 6% of the global uranium supply. As of 2022, the company produced 2,813 tons of uranium.

The company reported a revenue of $53.82 billion for financial year 2023 . This was a decrease of $11.3 billion compared to the previous year due to lower prices across iron ore, metallurgical coal, and copper. BHP Group Limited (NYSE:BHP), however, was successful in taking home an underlying profit of $6.6 billion, for the 6 months ending 31 December 2023.

The Largest Uranium Producing Country in the World

A close up of the reactor core, highlighting the complexity of the uranium power process.

Methodology

For the purpose of this ranking, we referred to the data provided by the World Nuclear Association on World Uranium Mining Production. Based on the latest values for each country for the year 2022, we arranged the data in ascending order and the top 12 countries with the highest uranium production were picked.

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

1. Kazakhstan

Production from mines in 2022: 21,227 metric tons

In 2022, Kazakhstan emerged as the world's top uranium producer. Its total output of 21,227 metric tons represented a significant 43 percent of the global uranium supply, according to the World Nuclear Association. Kazatomprom, the nation's state-owned uranium mining company, holds the title of the world's largest producer, with operations and partnerships spanning multiple regions. Concerns arose when news surfaced that Kazakhstan might not meet its production targets for 2024 and 2025, contributing significantly to uranium prices surpassing the $100 mark.

To learn about other top online ESL courses and programs, you can check out our detailed report 20 Best Online ESL Courses and Programs. At Insider Monkey, we delve into a variety of topics, ranging from the best online ESL courses to business aspects; however, our expertise lies in identifying the top-performing stocks. Currently, Artificial Intelligence (AI) technology stands out as one of the most promising fields. If you are looking for an AI stock that is more promising than NVDA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

You can see the full free list by going to the 12 Largest Uranium Producing Countries in the World.

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

Vancouver, British Columbia–(Newsfile Corp. – June 28, 2024) – Flying Nickel Mining Corp. (TSXV: FLYN) (OTCQB: FLYNF) ("Flying Nickel" or the "Company") announces that further to its joint press releases with Nevada Vanadium Mining Corp. ("Nevada Vanadium") dated August 23, 2022, and October 7, 2022, the proposed acquisition of all the issued and outstanding common shares of Nevada Vanadium by Flying Nickel by way of a court-approved plan of arrangement (the "Transaction" or the "Arrangement") continues to progress. An Annual General and Special Meeting of Shareholders of both companies to vote on the Transaction has been set for July 10, 2024. Further details are available in the Joint Management Information Circular dated May 24, 2024 of Flying Nickel and Nevada Vanadium (the "Circular"), available on www.sedarplus.ca.

The Transaction was delayed primarily due to staff turnover at the end of 2022, a change in auditors during December 2022, and also a change in fiscal year end from December 31 to March 31 effective for the 15 months ended March 31, 2023.

The Company also filed an amended technical report on www.sedarplus.ca for Nevada Vanadium's Gibellini Project with an effective date of September 27, 2023, on October 10, 2023. The amendments were principally to re-address the technical report to Flying Nickel. Subsequently, an additional amended technical report was filed on www.sedarplus.ca on February 13, 2024. The additional amendments were primarily to provide: 1) information on work performed on the project and visits by the report author to the site, 2) clarifications on the evaluation of the vanadium price used in the report, 3) a figure showing the project mining claims location relative to each other, nearby towns and infrastructure, 4) relocation of the list of mining claims from the body of the report to an appendix, 5) a statement clarifying that Flying Nickel has not done any exploration or drilling on the Gibellini Project, and 6) a multi-phase budget to complete all the recommended Project development work (geologic, drilling, metallurgical and pre-feasibility study) included in the technical report.

In making its recommendations to acquire Nevada Vanadium, the Company's board of directors (the "Flying Nickel Board") considered a number of factors including the following:

Metals and Geographic Diversification: The Arrangement will provide Flying Nickel with the opportunity for asset diversification, by expanding Flying Nickel's focus from nickel exploration to include vanadium in the critical minerals space, while also providing the opportunity for geographic diversification to span both Canada and the United States. Nevada Vanadium is focused on advancing its vanadium resources in Nevada, USA, while Flying Nickel is advancing its nickel focused project in Manitoba, Canada. Diversification should also appeal to a broader range of prospective investors, given the combined company's intended focus on nickel and vanadium.
Rising Demand for Vanadium in Energy Storage and Renewable Energy: Vanadium is a crucial material in the manufacturing of Vanadium Redox Flow Batteries (VRFBs). In the near future, these batteries have the potential to become a preferred choice for grid energy storage due to their scalability, long cycle life, and ability to rapidly discharge and recharge. With a rising global push towards renewable energy, the demand for grid-scale energy storage systems is expected to increase, thereby driving the demand for vanadium.
Increasing Expansion of Electric Vehicle (EV) Market: Not only does vanadium have the potential to become a key material for energy storage solutions, but it also has potential uses in the EV market. Researchers are exploring the potential of vanadium-based batteries in EVs due to their superior energy density and faster charging capabilities compared to conventional lithium-ion batteries. If this research yields successful results, the EV market could become a significant consumer of vanadium in the long-term.
Pricing of Metals: Flying Nickel views this as an opportune time to invest in a vanadium project due to increasing global demand and constrained supply from Russia and China.
Greater Financing Opportunities and Liquidity: The combined company is expected to have greater funding opportunities in the form of equity or debt financing, government funding and strategic investments, which may otherwise be unavailable to Flying Nickel alone. The common shares of the combined company are also expected to have greater trading liquidity due to the increased number of issued and outstanding shares, all of which are intended to be listed on the TSX Venture Exchange, subject to receiving final approval of such exchange.
Cost Synergies: Public company administrative costs, and other corporate costs, are expected to be reduced for the combined company as a result of there being only one public company resulting from the Arrangement.
Government Policies and Regulations: Many governments around the world are introducing policies to support the renewable energy sector, which in turn is expected to increase the demand for vanadium. In addition, regulations aimed at reducing carbon emissions are forcing industries to adopt cleaner energy sources, which is also likely to positively impact the vanadium market.
Fairness Opinion: The Flying Nickel Board received the Sequeira Partners Fairness Opinion dated as of October 6, 2022, which concluded as at the date thereof and subject to the assumptions, limitations and qualifications contained therein, that the Arrangement consideration to be paid by Flying Nickel pursuant to the Arrangement is fair, from a financial point of view, to Flying Nickel.

Despite the time that has lapsed from the date of the Sequeira Partners Fairness Opinion, the Company considered, but did not proceed with requesting for an update to the Sequeira Partners Fairness Opinion as it was only one of many factors considered in the Flying Nickel Board's recommendations.

Under the terms of the Transaction, Nevada Vanadium shareholders will receive one (1) (the "Exchange Ratio") Flying Nickel common share for each Nevada Vanadium share held immediately prior to the effective time of the Transaction. Despite Flying Nickel's change in share price since October 2022, the Exchange Ratio remains the same as the it is based on the intrinsic value of the underlying assets.

About Flying Nickel

Flying Nickel Mining Corp. is a premier nickel sulphide mining and exploration company. The company is advancing its 100% owned Minago nickel project in the Thompson nickel belt in Manitoba, Canada.

Further information on the Company can be found at www.flynickel.com.

FLYING NICKEL MINING CORP.

ON BEHALF OF THE BOARD

John LeeChief Executive Officer

For more information about the Company, please contact:

Phone: 1.877.664.2535 / 1.877.6NICKELEmail: info@flynickel.com

This news release is not an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements. This news release is not an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, including any benefits that may be derived by the Company or its shareholders from the Transaction, the successful completion of the Transaction as expected, or at all, the receipt of shareholder, stock exchange, regulatory, court and other required approvals in respect of the Transaction, as well as statements which may contain words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management's expectations regarding the Company's future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements.

Forward-looking statements involve significant risks and uncertainties, and should not be read as guarantees of future performance, events or results, and may not be indicative of whether such events or results will actually be achieved. A number of risks and other factors could cause actual results to differ materially from expected results discussed in the forward-looking statements, including but not limited to: changes in business plans; ability to secure sufficient financing to advance the Company's and Nevada Vanadium's project; inability to obtain the requisite shareholder, stock exchange, regulatory, court and other required approvals in respect of the Transaction; the inability of the Company and Nevada Vanadium to complete the requisite conditions precedent to the Transaction, the risks and uncertainties outlined in the Circular; and general market, industry and economic conditions. See the Circular for a discussion of the Transaction and further associated risks. Additional risk factors are set out in the Company's latest annual and interim management discussion and analysis, available on SEDAR+ at www.sedarplus.ca.

Forward-looking statements are based on reasonable assumptions by management as of the date of this news release, and there can be no assurance that actual results will be consistent with any forward-looking statements included herein. Readers are cautioned that all forward looking statements in this news release are made as of the date of this news release. The Company undertakes no obligation to update or revise any forward-looking statements in this news release to reflect circumstances or events that occur after the date of this news release, except as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/214912

VANCOUVER, BC, June 27, 2024 /CNW/ – Blackstone Minerals Limited ("Blackstone"), Sparta AG ("Sparta") and Norway House Cree Nation ("NHCN", and together with Jim Rondeau1, Blackstone and Sparta the "Concerned Shareholders"), collectively own 35.5% of the common shares ("FN Shares") of Flying Nickel Mining Corp. ("Flying Nickel") (TSXV: FLYN) (OTCQB: FLYNF). The Concerned Shareholders DO NOT SUPPORT either the proposed plan of arrangement pursuant to which Flying Nickel would acquire all of the issued and outstanding common shares of Nevada Vanadium Mining Corp. (the "NV Merger") or three of the four board nominees proposed by Flying Nickel (the "Flying Nickel Slate"). The NV Merger and Flying Nickel Slate will be considered at the annual general and special meeting of Flying Nickel currently scheduled to take place on July 10, 2024 (the "Meeting").

The Concerned Shareholders encourage Flying Nickel shareholders to vote "against" the NV Merger, and "withhold" the Flying Nickel Slate. See "How to Vote AGAINST the NV Merger and FOR the Concerned Shareholders Nominees" below for guidance on how to vote using the form of proxy or voting instruction form that you received from Flying Nickel with your materials for the Meeting.

The Concerned Shareholders intend to propose and vote in favour of an alternate slate of four directors (the "Concerned Shareholders Nominees") to include Mr. Neil Duboff,2 as NHCN's board nominee, together with Mr. Andrew Strickland FAusIMM, Mr. Scott Williamson and Mr. Rhett Brans who will add additional mine development and operating experience to the board. For additional details on the Concerned Shareholders Nominees, see "Concerned Shareholders Nominees – Biographies" below.

Flying Nickel Shareholders that would like to vote FOR the Concerned Shareholders Nominees should contact the Concerned Shareholders' proxy solicitation agent, Carson Proxy, at North American Toll-free: 1-888-511-1228, local or text: 416-804-0825 or by email at christine@carsonproxy.com.

Scott Williamson, Managing Director and CEO of Blackstone said: "Flying Nickel needs a fresh start, and an opportunity to realise the true value of the Minago Project and benefits of working closely with NHCN. Voting against the NV Merger and against the Flying Nickel Slate, and in favour of the Concerned Shareholders Nominees is the only option that will lead to shareholder returns and a clear path forward for the Minago Project."

Chief and Council of NHCN agree with Blackstone and Sparta that the NV Merger is not in the best interests of Flying Nickel or its shareholders, and that the Flying Nickel Slate should not be elected; instead, the Concerned Shareholders Nominees should be elected. NHCN has filed an updated early warning report in connection with this press release, as the Concerned Shareholders may be considered joint actors in relation to matters being considered at the Meeting. NHCN has ownership or control or direction over 17,561,862 FN Shares representing approximately 19.9% of the FN Shares, and together with Jim Rondeau3, Blackstone4 and Sparta5, an aggregate of 31,277,206 FN Shares representing approximately 35.5% of the FN Shares are owned or controlled by the Concerned Shareholders as a group. The Concerned Shareholders control 6,574,311 warrants and 50,000 options. There has been no trade in any FN Shares, and no transaction involving a change of ownership or control of FN Shares that has triggered the requirement to file an updated early warning report.

Blackstone and Sparta's relationship with Flying Nickel

Blackstone is developing the Ta Khoa Nickel Refinery in Vietnam, and considers the Minago nickel project ("Minago Project") as a desirable long-term feedstock opportunity. Minago is a large, world-class nickel deposit, from an IRA compliant jurisdiction, low in contaminants. It is in the traditional territory of NHCN, who are supportive of the Minago Project development.

Blackstone and Sparta participated in the Flying Nickel IPO in 2022 and have been strong supporters of Flying Nickel, participating in subsequent capital raisings. Blackstone's investment in Flying Nickel was made to secure a strategic position in the Minago Project and to have input into the development studies. Initially this relationship worked well, however, around the time of the proposed NV Merger, progress meetings stopped and the working relationship between the groups deteriorated. In 2023, Blackstone visited central Manitoba as part of its due diligence for the Wabowden project option deal. Blackstone notified Flying Nickel that it would be driving past the Minago site and requested a site visit. Flying Nickel refused, as they claimed they did not have the people available to coordinate an investor site visit. When Blackstone drove past the site, the access road looked disused and overgrown. It was obvious that the Minago Project was not progressing.

NHCN's relationship with Flying Nickel

The Minago Project, the only material property held by Flying Nickel, is located in NHCN traditional territory. NHCN supports the environmentally responsible development of the Minago Project, and the creation of jobs and economic prosperity that in turn will flow to the NHCN community as a whole.

For over three years, NHCN has worked to establish a cooperative, respectful and mutually beneficial long-term relationship with Flying Nickel. NHCN has been integral in moving the Minago Project forward. NHCN has worked throughout 2022 and 2023 with Flying Nickel and its environmental consultant to assist with the Province of Manitoba's consultation process, helped to organize multiple public and stakeholder meetings in Norway House, Grand Rapids and Moose Lake and invested directly in Flying Nickel.

NHCN has supported Flying Nickel as a nation with Aboriginal rights, as an environmental steward with provincial government insight, as a proximate community with capable employees, and as a shareholder with financing. However, recent developments and strategic decisions by Flying Nickel, particularly the proposed NV Merger, have raised significant concerns for NHCN. NHCN remains singularly focussed on moving the Minago Project forward. The Minago Project, most likely, will not receive any government support or approval without the full support of NHCN.

NV Merger Concerns

The Concerned Shareholders do not support the NV Merger for the following reasons:

1. Negative impact on job creation and economic prosperity

NHCN has an Impact and Benefit Agreement ("IBA") with Flying Nickel, which is crucial for fostering economic opportunities and job creation within NHCN. The nation is deeply concerned that if the NV Merger is approved, management of Flying Nickel will continue to be distracted from progressing the Minago Project. NHCN worries that the NV Merger will diminish the obligations of Flying Nickel set out in the IBA, adversely affecting the Minago Project's development, as well as the nation's economic future and social well-being.

2. Driver behind the NV Merger is liquidity for Nevada Vanadium Shareholders

The primary driver behind the NV Merger appears to be the liquidity benefits for Nevada Vanadium shareholders, rather than the strategic or financial benefits for Flying Nickel and its shareholders.

Contrary to Flying Nickel's assertions, the Concerned Shareholders believe that the NV Merger will not enhance trading liquidity. Nevada Vanadium and Flying Nickel were each spun out from Silver Elephant Mining Corp. on January 14, 2022, with a proposal to recombine these entities a mere 10 months later. The NV Merger seems to be more of a corporate reorganization for the appearance of progress rather than actual progress on development of the Minago Project or advancement of the profit-generation capabilities of Flying Nickel.

As of December 31, 2023, Flying Nickel had receivables from related parties (including Silver Elephant Mining Corp., Nevada Vanadium and Oracle Mining Corp.) totalling $1,800,000. The NV Merger will add unnecessary expenses to Flying Nickel's balance sheet, further straining Flying Nickel's financial health.

There are many common shareholders, directors and officers amongst Flying Nickel, Nevada Vanadium, Silver Elephant Mining Corp. and Oracle Mining Corp., and the interests of that select group are being placed ahead of the interests of Flying Nickel shareholders as a whole.

3. Flying Nickel's ability to move the Nevada Vanadium mine forward

The Concerned Shareholders believe that if the NV Merger is approved, Flying Nickel will be spread too thin across two early-stage assets. The reality is that the Flying Nickel shareholders are, and have been, disappointed with the lack of progress with the Minago Project. Another project in its infancy is well beyond Flying Nickel's current management's demonstrated capacity. Adding Nevada Vanadium to Flying Nickel's portfolio will require extensive capital to fund two exploration properties with different minerals in two different countries with minimal synergies. Flying Nickel has consistently shown a lack of focus moving the Minago Project forward and the Concerned Shareholders worry that this lack of focus will worsen with the addition of another mine located in another country.

4. Fairness opinions on the NV Merger are outdated

The fairness opinions supporting the NV Merger are as of October 6, 2022, and as such are outdated and do not reflect the current financial realities. The most significant factor is the basis of commodity price assumptions. Relying on these opinions is misleading and fails to provide an accurate and current assessment of the merger's impact.

5. Shareholder Value Decline and Shareholder Dilution

The day before the NV Merger was first announced, FN Shares closed at $0.195, and yesterday's closing price was $0.10, marking a 50% decline in value. As Nevada Vanadium is not a publicly traded company, no information has been provided in the 20 months since the announcement of the NV Merger in respect of its current value. In addition, Flying Nickel shareholders will be diluted by approximately 43%, while certain insiders who hold shares in both Flying Nickel and Nevada Vanadium will increase their shareholdings of the resulting company. The NV Merger benefits a select group of insiders, and is not in the best interests of Flying Nickel or its shareholders.

6. Irregular Behaviour and NV Merger Terms

It has taken the Flying Nickel management team 20 months to bring the NV Merger to Flying Nickel shareholders, an unprecedented period of time that has inhibited Flying Nickel's management from meaningfully considering alternative transactions. This is in part due to an off-market break fee of $2 million, representing approximately 23% of the Flying Nickel implied value as of May 24, 2024. In addition, in the week leading up to the record date for the Meeting, an insider from Nevada Vanadium swapped shares with an insider of Flying Nickel, which in turn lowered the number of FN Shares excluded from the majority of minority vote. Irregular actions like these erode the Concerned Shareholders' trust and confidence in Flying Nickel management, and the Concerned Shareholders do not believe the NV Merger will benefit the development of the Minago Project, Flying Nickel Shareholders, NHCN or its people.

Flying Nickel Slate Concerns

The Concerned Shareholders do not support the Flying Nickel Slate for the following reasons:

1. Mismanagement of Flying Nickel

Flying Nickel's troubled history with the Minago Project, including its failure to achieve projected outcomes, raises significant doubts about its capability to successfully manage Nevada Vanadium's Gibellini mine. The same management team, led by John Lee, is now proposing the NV Merger, despite a demonstrated lack of strategic planning, financial oversight and demonstrable successes.

Between December 2020 and December 2023, Flying Nickel raised a total of $10.5 million and spent $10.0 million. Of this spend, just $1.8 million was spent on exploration and drilling on the Minago Project, and a further $1.2 million was spent on a feasibility study which has never been released. Only 30% of the money raised was utilized to move the Minago Project forward while 70% was utilized for other purposes.6

2. Incomplete disclosure by Flying Nickel

Flying Nickel has failed to provide comprehensive and accurate disclosure to its shareholders, thereby preventing them from making fully informed decisions. The incomplete information about Flying Nickel's operations and financial status is unacceptable and undermines shareholder trust, particularly NHCN's.

Concerned Shareholders Nominees

Name and Province or State, and Country of Residence

Principal Occupation for the

Five Preceding Years

Number of FN Shares

Beneficially Owned, or

Controlled or Directed, Directly

or Indirectly

Neil Duboff7

Manitoba, Canada

Managing Partner, Duboff

Edwards Schachter Law Corp.

Nil

Andrew Strickland

Perth, Western Australia

Mining Executive, Projects and

Mergers & Acquisitions,

Blackstone,

Senior Study Manager GR

Engineering Services

Nil

Rhett Brans

Perth, Western Australia

Mining Executive / Non

Executive Director, Project

Development, Various ASX

mining companies

Nil

Scott Williamson

Perth, Western Australia

Managing Director & CEO, Blackstone

Nil

Concerned Shareholders Nominees – Biographies

Neil Duboff (Non Executive Director)

Neil Duboff is the Managing Partner of the Winnipeg-based law firm Duboff Edwards Haight & Schachter and has been practising law since 1985. His practice is focused primarily in the areas of corporate structuring, acquisitions and financing and Aboriginal law with an emphasis on taxation, trusts, Governments and Associations. Prior to this, Mr. Duboff was a bank manager at the Bank of Montreal from 1979 to 1984. He holds a Bachelor of Arts in Economics and a Bachelor of Law from the University of Manitoba. Mr. Duboff acts for many First Nations across the country, as well as banks, First Nations development companies and First Nations businesses.

Andrew Strickland (Non Executive Director)

Andrew Strickland is a mining executive with over 20 years experience. Mr. Strickland is a University of Western Australia MBA graduate, with degrees in Chemical Engineering and Extractive Metallurgy. He is a Fellow of the Australian Institute of Mining and Metallurgy. He is currently a Non-executive Director of Corazon Mining Limited an ASX-listed nickel developer which owns the Lynn Lake deposit in northern Manitoba. Mr. Strickland has extensive experience in developing mining operations around the and has strong connections for accessing capital markets and potential strategic investors from Japan and South Korea. Mr. Strickland is very familiar with the Minago Project, and has strong connections through Manitoba and Canada. He was responsible for the recent Blackstone Wabowden project option deal.

Mr. Strickland would step back from his current role as an Executive at Blackstone to focus on leading the development of the Minago Project.

Rhett Brans (Independent Non-Executive Director)

Rhett Brans is an experienced director and civil engineer with over 50 years' experience in project developments. He is currently a Non-Executive Director of Carnavale Resources Ltd and AVZ Minerals Ltd. Previously, Mr. Brans was a founding director of Perseus Mining Limited and served on the boards of Australian Potash, Syrah Resources Limited, Tiger Resources Limited and Monument Mining Limited.

Throughout his career, Mr. Brans has been involved in the management of feasibility studies and the design and construction of mineral treatment plants across a range of commodities and geographies including gold in Ghana, copper in Australia and the DRC and graphite in Mozambique. He has extensive experience as an owner's representative for several successful mine feasibility studies and project developments.

Scott Williamson (Non-Executive Director)

Scott Williamson is a mining engineer with a Commerce degree from the West Australian School of Mines and Curtin University. Mr. Williamson has over 20 years' experience in financing, developing and operating mines across multiple jurisdictions. Mr. Williamson has been the Managing Director and CEO of Blackstone since 2017 and during this time has established strategic relationships within the Lithium-ion battery and electric vehicle supply chain. Mr. Williamson is currently a Non-Executive Director of Leeuwin Metals Limited, an ASX-listed nickel and lithium developer in Manitoba. Mr. Williamson has experience in mining engineering, corporate finance and investor relations offering a unique blend of both corporate and technical capabilities.

Boards of Other Reporting Issuers on Which the Concerned Shareholders Nominees Serve

Concerned Shareholders Nominee	Boards of Other Reporting Issuers on Which the Concerned Shareholders Nominee Serves
Neil Duboff	N/A
Andrew Strickland	Corazon Mining Limited (ASX:CZN)
Rhett Brans	Carnavale Resources Ltd (ASX:CAV) AVZ Minerals Ltd. (ASX:AVZ)
Scott Williamson	Blackstone Minerals Ltd (ASX:BSX) Leeuwin Metals Ltd (ASX:LM1)

Based on information provided to the Concerned Shareholders by each respective Concerned Shareholders Nominee, all of the nominees are independent of Flying Nickel.

Based on information provided to the Concerned Shareholders by each respective Concerned Shareholders Nominee, none of the Concerned Shareholders Nominees: (a) is, at the date hereof, or has been within the previous 10 years, a director, chief executive officer or chief financial officer of any company (including Flying Nickel) that (i) was subject to an a cease trade order, an order similar to a cease trade order or an order that denied the relevant company access to any exemption under securities legislation, that was in effect for a period of more than 30 consecutive days (each, an "order") that was issued while such Concerned Shareholders Nominee was acting in the capacity as director, chief executive officer or chief financial officer, or (ii) was subject to an order that was issued after such Concerned Shareholders Nominee ceased to be a director, chief executive officer or chief financial officer and which resulted from an event that occurred while such Concerned Shareholders Nominee was acting in the capacity as director, chief executive officer or chief financial officer; (b) is, at the date hereof, or has been within the previous 10 years, a director or executive officer of any company (including Flying Nickel) that, while such Concerned Shareholders Nominee was acting in that capacity, or within a year of such Concerned Shareholders Nominee ceasing to act in that capacity, became bankrupt, made a proposal under any legislation relating to bankruptcy or insolvency or was subject to or instituted any proceedings, arrangement or compromise with creditors or had a receiver, receiver manager or trustee appointed to hold its assets; or (c) has within the previous 10 years, become bankrupt, made a proposal under any legislation relating to bankruptcy or insolvency, or become subject to or instituted any proceedings, arrangement or compromise with creditors, or had a receiver, receiver manager or trustee appointed to hold the assets of such Concerned Shareholders Nominee.

Based on information provided to the Concerned Shareholders by each respective Concerned Shareholders Nominee, none of the Concerned Shareholders Nominees has been subject to: (a) any penalties or sanctions imposed by a court relating to securities legislation or by a securities regulatory authority or has entered into a settlement agreement with a securities regulatory authority; or (b) any other penalties or sanctions imposed by a court or regulatory body that would likely be considered important to a reasonable securityholder in deciding whether to vote for a Concerned Shareholder Nominee. Based on information provided to the Concerned Shareholders by each respective Concerned Shareholders Nominee, none of the Concerned Shareholders Nominees or their respective associates or affiliates has: (a) any material interest, direct or indirect, in any transaction since the commencement of Flying Nickel's most recently completed financial year or in any proposed transaction which has materially affected or would materially affect Flying Nickel or any of its subsidiaries; or (b) any material interest, direct or indirect, by way of beneficial ownership of securities or otherwise, in any matter to be acted on at the Meeting, other than the removal of certain incumbent directors and the election of directors to fill the vacancies created by such removals.

How to Vote AGAINST the NV Merger and FOR the Concerned Shareholders Nominees

You can vote for the Concerned Shareholders Nominees using the form of proxy or voting instruction form that you received from Flying Nickel with your materials for the Meeting by:

inserting the name "Michael Ly" or "Jamie Kagan" (the Concerned Shareholders' Representatives) as your proxyholder in the appointee line on the reverse side of the proxy form or voting instruction form; and

properly signing, dating and returning your form of proxy or voting instruction form by carefully following the instructions provided on your form of proxy or voting instruction form. Please do not check any boxes.

To ensure that your vote is received please vote well in advance of the proxy vote deadline on 10:30 a.m. (Pacific Standard Time) on July 8, 2024 or 48 hours (other than a Saturday, Sunday or holiday) prior to the Meeting (or any earlier deadline indicated by your broker).

Flying Nickel Shareholders that would like to vote "FOR" the Concerned Shareholders Nominees should contact the Concerned Shareholders' proxy solicitation agent, Carson Proxy, at North American Toll-free: 1-888-511-1228, local or text: 416-804-0825 or by email at christine@carsonproxy.com.

If you appoint the Michael Ly or Jamie Kagan as your proxyholder with discretionary authority for the election of directors and in respect of the NV Merger, your FN Shares will be voted as follows:

FOR the Number of Directors (to be fixed at four).

WITHOLD the Election of the Flying Nickel Slate – FOR the election of the Concerned Shareholders Nominees.

FOR the Appointment of Auditors.

FOR the Incentive Plan.

AGAINST the Arrangement Resolution.

AGAINST the Name Change Resolution.

Even if you have already voted for nominees on the Flying Nickel Slate and for the NV Merger, you can change your vote by executing another form of proxy bearing a later date and depositing it prior to 10:30 a.m. (Pacific Standard Time) on July 8, 2024. For assistance with voting or changing your vote, please contact the Concerned Shareholders' proxy solicitation agent, Carson Proxy, at North American Toll-free: 1-888-511-1228, local or text: 416-804-0825 or by email at christine@carsonproxy.com.

Information in Support of Public Broadcast Solicitation

The following information is provided in accordance with Canadian corporate and securities laws applicable to public broadcast solicitations. The Concerned Shareholders are relying on the exemption under section 9.2(4) of National Instrument 51-102 – Continuous Disclosure Obligations ("NI 51-102") to make this public broadcast solicitation.

This solicitation is being made by the Concerned Shareholders and not by or on behalf of the management of Flying Nickel. The head and registered office address of Flying Nickel is Suite 1610 – 409 Granville Street Vancouver, BC V6C 1T2. The Concerned Shareholders do not have any associate or affiliate assisting with this solicitation. The Concerned Shareholders have filed this press release containing the information required by section 9.2(4)(c) of NI 51-102 on Flying Nickel's company profile on SEDAR+ at www.sedarplus.ca.

The Concerned Shareholders may solicit proxies in reliance upon the public broadcast exemption to the solicitation requirements under applicable Canadian corporate and securities laws, conveyed by way of public broadcast, including through press releases, speeches or publications, and by any other manner permitted under applicable Canadian laws. All costs incurred for the solicitation will be borne by the Concerned Shareholders.

The Concerned Shareholders have retained the services of Carson Proxy Advisors to act as strategic proxy solicitation advisor and to facilitate communication with shareholders. In connection with these services, the Concerned Shareholders will pay fees of up to $60,000, plus certain out-of-pocket expenses.

A Flying Nickel shareholder who has given a proxy has the power to revoke it. If a Flying Nickel shareholder who has given a proxy attends the Meeting at which the proxy is to be voted, such Flying Nickel shareholder, may revoke the proxy and vote at the Meeting. In addition to revocation in any other manner permitted by law, a proxy may be revoked by an instrument in writing signed by the Flying Nickel shareholder or his or her attorney authorized in writing, or, if the Flying Nickel shareholder is a corporation, under its corporate seal and signed by a duly authorized officer or attorney for the corporation, and deposited at the registered office of Flying Nickel at any time up to and including the last day (other than Saturdays, Sundays and statutory holidays in the Province of British Columbia) preceding the day of the Meeting at which the proxy is to be used, or any adjournments or postponements thereof.

The Concerned Shareholders are shareholders of Flying Nickel. With the exception of the foregoing, to the knowledge of the Concerned Shareholders, no Concerned Shareholder nor any associates or affiliates of any Concerned Shareholder, has any material interest, direct or indirect, by way of beneficial ownership of securities or otherwise, in the NV Merger, the Flying Nickel Slate or any other matter to be acted upon at the Meeting.

This press release is being issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which requires a report to be filed under Flying Nickel's profile on SEDAR+ profile at www.sedarplus.ca containing additional information respecting the foregoing matters. To receive a copy of the report filed in respect of the above matters, please contact Jamie Kagan at jk@tdslaw.com.

ABOUT BLACKSTONE

Blackstone Minerals Limited (ASX: BSX) is a Western Australian based mining company focused on building an integrated battery metals processing business in Vietnam that produces NCM precursor products for the globally growing lithium-ion battery industry by developing the Ta Khoa Nickel-Copper-PGE Project in Vietnam. Blackstone will produce the lowest emission precursor as verified by Minviro and the Nickel Institute. The existing business has a modern nickel mine built to Australian standards, which successfully operated as a mechanised underground nickel mine from 2013 to 2016. This will be complemented by a larger concentrator, refinery and precursor facility to support integrated production in-country. Most recently, Blackstone executed an option agreement to acquire the Wabowden Nickel project in Manitoba, Canada, giving the company an opportunity to produce Inflation Reduction Act compliant critical mineral products from the Ta Khoa Refinery.

ABOUT SPARTA

Sparta AG is a publicly-owned investment manager based in Germany, listed on the Basic Board of the Frankfurt Stock Exchange. Sparta buys and sells listed and unlisted securities and other financial instruments worldwide. Sparta has the great advantage of not being confronted with cash outflows at the "wrong" time due to its financing structure. This means Sparta is not "forced" to sell investments in bad market phases. This means that Sparta does not see the volatility and illiquidity of securities solely as a risk, but also as an opportunity. Sparta's portfolio of investments is typically very concentrated. Sparta rarely holds more than 20 or 25 different investments and often more than 50% of total assets are invested in the five largest positions – the core positions. This is done according to the best opportunity-risk profile. Long-term capital preservation and a positive overall return are the main focus.

ABOUT NHCN

Norway House Cree Nation is a dynamic First Nation community in northern Manitoba, with 8,700 members and significant population growth. Strategically located, 800 Km north of Winnipeg at the top of Lake Winnipeg, NHCN serves as an economic hub for neighbouring communities. It has a progressive Leadership that is focused on education, economic development and employment. It has been working with the Province of Manitoba and other First Nations to move the Minago Project forward.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking information within the meaning of applicable securities laws. In general, forward-looking information refers to disclosure about future conditions, courses of action, and events. Forward-looking information in this press release may include, but is not limited to, statements of the Concerned Shareholders regarding (i) the Meeting, including the intention of the Concerned Shareholders to solicit proxies in connection with the Meeting, (ii) the proposed reconstitution of the Board, and (iii) matters relating to Flying Nickel, including its business, operations and financial condition. All statements contained in this press release that are not clearly historical in nature or that necessarily depend on future events are forward‐looking, and the use of any of the words "anticipates", "believes", "expects", "intends", "plans", "will", "would", and similar expressions are intended to identify forward-looking statements. These statements are based on current expectations of the Concerned Shareholders and currently available information. Forward looking statements are not guarantees of future performance, involve certain risks and uncertainties that are difficult to predict, and are based upon assumptions as to future events that may not prove to be accurate. The Concerned Shareholders undertake no obligation to update publicly or revise any forward looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable securities legislation.

	_____________________________________________________
	1 Mr. Rondeau was a former representative of NHCN on the board of Flying Nickel.
	2 Mr. Duboff is a current board member of Flying Nickel and is the nominee of NHCN. He is also the only Concerned Shareholders Nominee with an existing position within Flying Nickel.
	3 Mr. Rondeau has ownership or control or direction over 262,000 FN Shares representing approximately 0.3% of the FN Shares.
	4 Blackstone has ownership or control or direction over 6,551,844 FN Shares representing approximately 7.4% of the FN Shares.
	5 Sparta has ownership or control or direction over 6,901,500 FN Shares representing approximately 7.8% of the FN Shares.
	6 Based on Flying Nickel's quarterly and annual reports.
	7 Mr. Duboff is a current board member of Flying Nickel and is the nominee of NHCN. He is also the only Concerned Shareholders Nominee with an existing position within Flying Nickel.

SOURCE Concerned Shareholders of Flying Nickel Mining Corp.

Cision

View original content: http://www.newswire.ca/en/releases/archive/June2024/27/c7130.html

It might be of some concern to shareholders to see the Sociedad Química y Minera de Chile S.A. (NYSE:SQM) share price down 14% in the last month. But at least the stock is up over the last five years. In that time, it is up 44%, which isn't bad, but is below the market return of 94%. While the long term returns are impressive, we do have some sympathy for those who bought more recently, given the 39% drop, in the last year.

With that in mind, it's worth seeing if the company's underlying fundamentals have been the driver of long term performance, or if there are some discrepancies.

See our latest analysis for Sociedad Química y Minera de Chile

In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement.

During five years of share price growth, Sociedad Química y Minera de Chile actually saw its EPS drop 2.3% per year.

By glancing at these numbers, we'd posit that the decline in earnings per share is not representative of how the business has changed over the years. Since the change in EPS doesn't seem to correlate with the change in share price, it's worth taking a look at other metrics.

In fact, the dividend has increased over time, which is a positive. Maybe dividend investors have helped support the share price. We'd posit that the revenue growth over the last five years, of 39% per year, would encourage people to invest.

You can see how earnings and revenue have changed over time in the image below (click on the chart to see the exact values).

earnings-and-revenue-growth

Sociedad Química y Minera de Chile is well known by investors, and plenty of clever analysts have tried to predict the future profit levels. Given we have quite a good number of analyst forecasts, it might be well worth checking out this free chart depicting consensus estimates.

What About Dividends?

When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. The TSR incorporates the value of any spin-offs or discounted capital raisings, along with any dividends, based on the assumption that the dividends are reinvested. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. We note that for Sociedad Química y Minera de Chile the TSR over the last 5 years was 70%, which is better than the share price return mentioned above. This is largely a result of its dividend payments!

A Different Perspective

Investors in Sociedad Química y Minera de Chile had a tough year, with a total loss of 38% (including dividends), against a market gain of about 25%. However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. On the bright side, long term shareholders have made money, with a gain of 11% per year over half a decade. It could be that the recent sell-off is an opportunity, so it may be worth checking the fundamental data for signs of a long term growth trend. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. For instance, we've identified 3 warning signs for Sociedad Química y Minera de Chile (1 is concerning) that you should be aware of.

If you would prefer to check out another company — one with potentially superior financials — then do not miss this free list of companies that have proven they can grow earnings.

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

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

VANCOUVER, BC, June 27, 2024 /CNW/ – Bravo Mining Corp. (TSXV: BRVO) (OTCQX: BRVMF) ("Bravo" or the "Company") today announces the results of voting from the Annual General and Special Meeting of shareholders held earlier today (the "Meeting").

A total of 92,860,246 common shares were represented at the meeting, representing 85.55% of the issued and outstanding shares of the Company at the record date.

All matters presented for approval at the Meeting were approved by shareholders, as detailed below.

Number of Directors

Results of voting for the resolution to set the number of directors to be elected at four (4) were as follows:

Votes

For

Vote For

Votes

Withheld/Abstained

92,808,426

99.94

51,820

0.06

Election of Directors

The following four individuals were elected as directors of the Company until the next annual meeting of shareholders or until their successors are elected or appointed, with the votes being cast by ballot were as follows:

Name of Nominee	Votes For	% Vote For	Votes Withheld/Abstained	% Withheld/Abstained
Luis Mauricio F. Azevedo	90,964,552	99.99 %	720,800	0.79
Stuart Comline	90,964,552	99.21 %	720,800	0.79
Anthony Polglase	90,964,552	99.21 %	720,897	0.79
Stephen Quin	91,684,452	100.00 %	800	0.00

Appointment of Auditor

Results of voting for the resolution to approve KPMG LLP, Chartered Accountants, were re-appointed as independent auditor of the Company for the ensuing year and the directors are authorized to fix their remuneration, were as follows:

Votes

For

Vote For

Votes

Withheld/Abstained

92,808,426

99.94

51,820

0.06

Amended Stock Option Plan

Results of voting by disinterested shareholders for the resolution to approve the Amended Stock Option Plan were as follows:

Votes

For

Vote For

Votes

Withheld/Abstained

32,385,079*

99.95

16,372

0.05

* Excluding 56,283,901 shares held by Insiders

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 Luanga Project is situated on mature freehold farming land and benefits from being in a location close to operating mines, 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 program is well advanced, with 19,000m of drilling and 11,000m of trenching scheduled to be completed in 2024. Bravo's current Environmental, Social and Governance activities includes replanting high-value trees in the project area, hiring and contracting locally, and ensuring protection of the environment during its exploration activities.

SOURCE Bravo Mining Corp.

Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2024/27/c9702.html

PHOENIX, June 26, 2024–(BUSINESS WIRE)–Freeport-McMoRan Inc. (NYSE: FCX) announced today that its Board of Directors declared cash dividends of $0.15 per share on FCX’s common stock payable on August 1, 2024, to shareholders of record as of July 15, 2024. The declaration includes a base dividend of $0.075 per share and variable dividend of $0.075 per share in accordance with FCX's performance-based payout framework. The payment of dividends is at the discretion of the Board, which will consider FCX's financial results, cash requirements, global economic conditions and other factors it deems relevant.

FREEPORT: Foremost in Copper

FCX is a leading international metals company with the objective of being foremost in copper. Headquartered in Phoenix, Arizona, FCX operates large, long-lived, geographically diverse assets with significant proven and probable reserves of copper, gold and molybdenum. FCX is one of the world’s largest publicly traded copper producers.

FCX’s portfolio of assets includes the Grasberg minerals district in Indonesia, one of the world’s largest copper and gold deposits; and significant operations in North America and South America, including the large-scale Morenci minerals district in Arizona and the Cerro Verde operation in Peru.

By supplying responsibly produced copper, FCX is proud to be a positive contributor to the world well beyond its operational boundaries. Additional information about FCX is available on FCX's website at fcx.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240625902151/en/

Contacts

Financial Contact:David P. Joint(504) 582-4203

Media Contact:Linda S. Hayes(602) 366-7824

Investors in FMC Corporation FMC need to pay close attention to the stock based on moves in the options market lately. That is because the Jul 19, 2024 $30.00 Call had some of the highest implied volatility of all equity options today.

What is Implied Volatility?

Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.

What do the Analysts Think?

Clearly, options traders are pricing in a big move for FMC Corp shares, but what is the fundamental picture for the company? Currently, FMC Corp is a Zacks Rank #3 (Hold) in the Chemical – Diversified industry that ranks in the Top 38% of our Zacks Industry Rank. Over the last 60 days, no analysts have increased their earnings estimates for the current quarter, while two have dropped their estimates. The net effect has taken our Zacks Consensus Estimate for the current quarter from earnings of 65 cents per share to 51 cents in that period.Given the way analysts feel about FMC Corp right now, this huge implied volatility could mean there’s a trade developing. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.

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(Bloomberg) — The world’s biggest mining company, BHP Group Ltd., said it may not reach its goal of cutting greenhouse emissions created by its customers and suppliers to net zero by 2050.

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Brian Penny, CPA, CMAChief Executive OfficerEmail: bpenny @wallbridgemining.comM: +1 416 716 8346	Victoria Vargas, B.Sc. (Hon.) Economics, MBACapital Markets AdvisorEmail: vvargas@wallbridgemining.comM: +1 289 242 3599