TSX: MSV; OTCQX: MISVF;
WKN:A0ESX5

VANCOUVER, BC, Feb. 3, 2021 /CNW/ – Minco Silver Corporation (the "Company" or "Minco Silver") (TSX: MSV OTCQX: MISVF; WKN: A0ESX5) announces that the Exploration Permit for its Changkeng Gold Project has been renewed by the Chinese Government Agencies. The new expiry date of the permit is November 21, 2022, which is subject to further renewal.

In addition, the exploration permit for the Company's Fuwan Silver Project is at the late stage of the renewal process.

The Company plans to resume its permitting and development activities on its Changkeng Gold Project and Fuwan Silver Project, both located in Guangdong, China, once the exploration permits are renewed. Currently, the Company has working capital of approximately $42 million with no debt, including $32 million cash and short term investments. The Company also actively reviews high quality mineral projects inside and outside China for acquisition.

About Minco Silver

Minco Silver Corporation is a TSX and OTCQX listed company focusing on the exploration and development of mineral resource projects. The Company holds 52% in the Changkeng Gold Project and 90% interest in the Fuwan Silver Project. We seek to identify and acquire precious metal dominant projects that we believe will enhance shareholder value. For more information on Minco Silver, please visit the Company's website at www.mincosilver.ca or contact Jennifer Trevitt, at 1-888-288-8288 or (604) 688-8002 pr@mincosilver.ca

SOURCE Minco Silver Corporation

View original content: http://www.newswire.ca/en/releases/archive/February2021/03/c7790.html

Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Intra Energy Corporation Limited (ASX:IEC) as an investment opportunity by estimating the company's future cash flows and discounting them to their present value. One way to achieve this is by employing the Discounted Cash Flow (DCF) model. There's really not all that much to it, even though it might appear quite complex.

Companies can be valued in a lot of ways, so we would point out that a DCF is not perfect for every situation. If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in the Simply Wall St analysis model.

View our latest analysis for Intra Energy

The calculation

We are going to use a two-stage DCF model, which, as the name states, takes into account two stages of growth. The first stage is generally a higher growth period which levels off heading towards the terminal value, captured in the second 'steady growth' period. In the first stage we need to estimate the cash flows to the business over the next ten years. Seeing as no analyst estimates of free cash flow are available to us, we have extrapolate the previous free cash flow (FCF) from the company's last reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.

Generally we assume that a dollar today is more valuable than a dollar in the future, so we discount the value of these future cash flows to their estimated value in today's dollars:

10-year free cash flow (FCF) forecast

("Est" = FCF growth rate estimated by Simply Wall St)
Present Value of 10-year Cash Flow (PVCF) = AU$2.0m

After calculating the present value of future cash flows in the initial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. The Gordon Growth formula is used to calculate Terminal Value at a future annual growth rate equal to the 5-year average of the 10-year government bond yield of 2.0%. We discount the terminal cash flows to today's value at a cost of equity of 11%.

Terminal Value (TV)= FCF₂₀₃₀ × (1 + g) ÷ (r – g) = AU$324k× (1 + 2.0%) ÷ (11%– 2.0%) = AU$3.5m

Present Value of Terminal Value (PVTV)= TV / (1 + r)¹⁰= AU$3.5m÷ ( 1 + 11%)¹⁰= AU$1.2m

The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is AU$3.2m. In the final step we divide the equity value by the number of shares outstanding. Relative to the current share price of AU$0.009, the company appears around fair value at the time of writing. The assumptions in any calculation have a big impact on the valuation, so it is better to view this as a rough estimate, not precise down to the last cent.

Important assumptions

Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows. Part of investing is coming up with your own evaluation of a company's future performance, so try the calculation yourself and check your own assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Intra Energy as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 11%, which is based on a levered beta of 1.799. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.

Looking Ahead:

Although the valuation of a company is important, it ideally won't be the sole piece of analysis you scrutinize for a company. DCF models are not the be-all and end-all of investment valuation. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" If a company grows at a different rate, or if its cost of equity or risk free rate changes sharply, the output can look very different. For Intra Energy, we've put together three further elements you should explore:

1. Risks: Be aware that Intra Energy is showing 5 warning signs in our investment analysis , and 3 of those can't be ignored…

2. Management:Have insiders been ramping up their shares to take advantage of the market's sentiment for IEC's future outlook? Check out our management and board analysis with insights on CEO compensation and governance factors.

3. Other High Quality Alternatives: Do you like a good all-rounder? Explore our interactive list of high quality stocks to get an idea of what else is out there you may be missing!

PS. The Simply Wall St app conducts a discounted cash flow valuation for every stock on the ASX every day. If you want to find the calculation for other stocks just search here.

This article by Simply Wall St is general in nature. 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 (at) simplywallst.com.

Vancouver, British Columbia–(Newsfile Corp. – February 2, 2021) – INCA ONE GOLD CORP. (TSXV: IO) (OTC Pink: INCAF) (FSE: SU92) ("Inca One" or the "Company") a gold producer operating two, fully integrated mineral processing facilities in Peru reports consolidated gold production and deliveries for the three months ending December 2020 ("Q4 2020" or "the Quarter") from its Chala One Plant ("Chala One") and Kori One Plant ("Kori One"). All comparative year-over-year ("YoY") production numbers represent consolidated operations from both facilities.

Q4 2020 Highlights

• Total revenue of US$10.1 million, up 3% from Q4 2019 revenue ($9.79 million).

• Gold production reached 5,399 ounces.

• Deliveries of 11,385 tonnes for the quarter.

• Processed 11,459 tonnes, averaging 125 tonnes per day ("tpd") throughput.

Q4 2020 Production Results

Highlighting operations in Q4 2020 was the sharp increase in ore supply, as deliveries to our plants were 11,385 tonnes for the Quarter, an increase of 43% from the prior Q3 2020 (7,978 tonnes). This increase was driven by strong demand for ore processing services, from an expanded customer base that emerged from the additional 34,600 small-scale miners that entered the marketplace under the formalization amnesty announced early in 2020 by the Peruvian Mining Ministry. Specifically, deliveries in December alone reached their highest single monthly total in two years, as 5,011 tonnes of raw material was delivered to both Chala One and Kori One plants, an increase of 57% from the prior month of November 2020 (3,194 tonnes).

Additionally, the Company processed 11,459 tonnes of material in the Quarter, an increase of 81% from the prior Q3 2020 (6,347 tonnes). This represented a throughput of approximately 125 tpd in Q4 2020, which also was a high for the year. Inca One also had its highest daily throughput this past December as the Company processed an average of 134 tpd for the month, an increase of 21% on a monthly basis. Of particular note, Inca One reached an all-time daily production record of 322 tonnes per day during December.

Gold production during Q4 2020 reached 5,399 ounces, an increase of 56% over the previous Q3 2020, (3,472 oz). Production this quarter also included silver production of 10,713 ounces. Of note, YoY gold production was only off 9% as compared to Q4 2019 (5,924 ounces). This is significant as the promise of increased miners and mining activity from the formalization amnesty and a rebounding gold market began to reflect in increased deliveries and new miners requiring custom milling services with excess processing capacity, reversing the negative effects of the Coronavirus ("COVID-19") pandemic observed in prior quarterly performance.

This increase in mining activity post COVID-19 continued into the first month of 2021 as Inca One had positive YoY increases of 11% in both deliveries and processing and a 38% YoY increase in gold production. Again, helping drive these YoY gains was a strong gold price and more miners in the small-scale mining sector.

"This past year will be remembered as being influenced by a global pandemic that gravely impacted the world and economic prospects of the global economy," stated Inca One President and CEO, Edward Kelly. "Although the effects of COVID-19 lasted throughout the entire year, the Company focused on efficiency and sales, finishing 2020 on a strong note, with robust production and near record deliveries in December, including our strong start to 2021. However, our most significant achievement was the tremendous operational performance of our Peruvian team in the face of a challenging business environment that drove not only our quarterly results but our entire 2020 sales. We are encouraged by this strong finish to the year and we look forward on building on this momentum, supported by a strengthened gold price and re-established gold market."

"I am grateful to our board of directors and management teams, both in Vancouver and Peru, for their dedication and unwavering support. Additionally, I want to thank our Peruvian staff who have allowed Inca One to continue on its path to become Peru's finest gold processing company. Every year will bring its challenges or obstacles, whether internal or external, and knowing the professionalism displayed by everyone instills confidence we have assembled the right team and are on the correct path to make this year our very best yet."

Chart 1

To view an enhanced version of Chart 1, please visit:
https://orders.newsfilecorp.com/files/2645/73411_chart1.jpg

Looking ahead in 2021, Inca One will continue to focus on technical execution and expanding its mineral buying, securing future supplies of mill feed in an expanded small-scale mining sector and a revitalized gold space. The Company believes that it has the ability to fill its remaining capacity at both plants and achieve new highs in both processing and production in 2021 and future years to follow.

About Inca One

Inca One Gold Corp is a TSXV listed, gold producer operating two, fully permitted, gold mineral processing facilities in Peru. The Company produced nearly 25,000 ounces of gold from its operations in 2019 and has generated over US$100 million in revenue over the last five years. Inca One, now in its sixth year of commercial production, is led by an experienced and capable management team that has established the Company as a trusted leader in servicing government permitted, small scale miners in Peru. Peru is the world's sixth-largest producer of gold and its small-scale mining sector is estimated by government officials to be valued in the billions of dollars annually. Inca One possesses a combined 450 tonnes per day permitted operating capacity at its two fully integrated plants, Chala One and Kori One, and is targeting a fourth consecutive year of increased production and sales growth. To learn more visit www.incaone.com.

Figure 1. Inca One's gold processing facilities in Peru (left: Chala One facility; right: Kori One facility)

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2645/73411_facab09b44a369e8_005full.jpg

On behalf of the Board,

Edward Kelly,
President and CEO
Inca One Gold Corp.

For More Information Contact:

Konstantine Tsakumis
Inca One Gold Corp.
ktsakumis@incaone.com
604-568-4877

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

Statements regarding the Company which are not historical facts are "forward-looking statements" that involve risks and uncertainties. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements due to factors such as: (i) fluctuation of mineral prices; (ii) a change in market conditions; and (iii) the fact that future operational results may not be accurately predicted based on this limited information to date. Except as required by law, the Company does not intend to update any changes to such statements. Inca One believes the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included herein should not be unduly relied upon.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/73411

Vancouver, British Columbia–(Newsfile Corp. – February 1, 2021) – Philippine Metals Inc. (TSXV: PHI) (the "Company") is pleased to announce the acquisition of an option to acquire a 100% interest in the 1,161 hectare Consortium Property ("Consortium" or the "Property") located in British Columbia, Canada. The arm's length acquisition is subject only to a 3.0% NSR royalty interest in favour of the vendor.

Key Highlights

• The Property is located 55 kilometres northwest of Campbell River, British Columbia and can be accessed by a network of well-maintained logging roads.

• Known mineralization was first identified in 1989 by a provincial Regional Geochemical Survey, which led to initial staking in 1990 that was followed by a variety of intermittent ground-based surveys through to 2020. The Property has never been drilled-tested.

• Consortium has high gold-silver grades in quartz-ankerite veins with chalcopyrite and pyrite veinlets. For example:

  • In 2020, a program of 10 bedrock samples of veins in a creek (known as A1 Creek) on the Property returned grades ranging from 0.24 to 30.4 grams per tonne (g/t) Au (and which averaged 4.5 g/t Au) and 1.8 to 71.0 g/t Ag (and which averaged 14 g/t Ag).

  • Float samples in A1 Creek generated from a program completed in 2018 included two samples which returned grades of 79.0 g/t Au and 248 g/t Ag and 29.0 g/t Au and 112.0 g/t Ag.

• Vein mineralization in the basalts is related to brittle, strike slip faults and carbonate alteration.

• The Consortium Property is open to expansion in multiple directions.

• The Property represents an early-stage exploration for gold, silver and potential base metals and marks the first step in the Company's development of a property pipeline outside of the Philippines.

A NI 43-101 Technical Report on the Property and commissioned by the Company will be filed on SEDAR within 30 days.

Exploration Plans

Field work conducted in the past 3 years consists of baseline exploration including mapping and sampling. In 2018 the Property was the subject of a soil sampling program along logging roads, silt sampling in creeks, and prospecting rock cuts. Approximately 300 soil samples, 15 silts, and 33 rocks were collected, which was designed to extend and infill historical geochemical surveys. Initial follow-up work in 2020 included the bedrock samples from A1 Creek noted above, 33 soil samples along new logging roads, and lithogeochemical sampling. The Company is continuing to compile and review historic data from the newly acquired assets with the goal of planning and implementing an exploration program for this year. Immediate work recommended includes ground-based geophysics, geology and geochemistry, which would be followed with initial drill-testing (dependent on results of the first-phase exploration).

Dr. Hardolph Wasteneys, Ph.D., P.Geo., a Qualified Person as defined by NI 43-101, has reviewed and approved the technical contents of this news release and has verified the data disclosed herein.

Terms of the Acquisition

The Company has purchased an initial 51% interest in the Property for cash consideration of $5,000. An additional 49% interest in the Property can be purchased for cash consideration of $165,000 payable over four years, the issuance of 800,000 common shares in the Company over three years and the completion of $500,000 of exploration expenditures over four years. Additionally, the acquisition is subject to a 3.0% net smelter royalty in favour of the vendor (who is arm's length to the Company).

The transaction proposed herein is subject to a review and approval by the TSX Venture Exchange.

ON BEHALF OF THE BOARD

"Craig T. Lindsay"

Chief Executive Officer

For additional information, please contact:

Craig Lindsay
Tel: (604) 218-0550
Email: craig@agcap.ca

Forward Looking Information

This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the transactions, concurrent financings or any contemplated change to the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are risks detailed from time to time in the filings made by the Company with securities regulations.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, the Company cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This News Release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "US Securities Act") or any State securities laws, and may not be offered or sold within the United States or to US Persons unless registered under the US Securities Act and applicable State securities laws, or an exemption from such registration is available.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/73294

Vancouver, British Columbia–(Newsfile Corp. – February 1, 2021) – ATEX Resources Inc. (TSXV: ATX) ("ATEX") is pleased to announce that it has commenced the mobilization of drilling and related support equipment to the Valeriano Project. The goal of the planned 3,000 metre reverse circulation drilling program is to expand the existing near surface oxide gold resource and convert a portion of inferred gold resources to the measured and indicated categories. In addition, after discussions with the vendors of the Valeriano property, taking into account the difficulties of the past year, ATEX has entered into an agreement extending the timing of all future option payments for a period of one year from each payment's previous due date.

The Valeriano epithermal oxide gold deposit contains 0.585 million ounces of gold and 2.65 million ounces of silver for 0.623 million gold equivalent ounces hosted in an inferred resource estimate of 34.4 million tonnes at a grade of 0.528 grams per tonne ('g/t") gold and 2.4 g/t silver, for a gold equivalent grade of 0.561 g/t at a 0.275 g/t gold cut-off grade.

"We are pleased to start the process of advancing the Valeriano oxide gold resource towards a measured and indicated resource," said Raymond Jannas, CEO of ATEX. "This initial drilling program is the first step towards our goal of outlining an economically viable, heap leachable gold deposit at Valeriano which can be developed in a reasonable time frame with relatively low capital requirements. Further, the payment moratorium provides ATEX with flexibility in moving the oxide gold deposit forward as well as progressing the copper gold porphyry resource lying at depth below the near surface gold deposit."

Underlying the Valeriano oxide gold deposit is a large copper gold porphyry hosting an estimated inferred resource of 297.3 million tonnes grading 0.59% copper, 0.193 g/t gold and 0.9 g/t silver (copper equivalent grade of 0.77%) for an estimated 1.77 million tonnes of copper, 1.845 million ounces of gold and 8.62 million ounces of silver or 2.30 million tonnes of contained copper equivalent at a 0.50% copper cut-off grade. The porphyry copper resource remains open horizontally in all directions and to depth.

Option Grant

ATEX has granted 100,000 stock options to a director of ATEX. Each option entitles the holder to acquire one ATEX common share at an exercise price of $0.35 until January 28, 2026.

NI 43-101 Disclosure

David Hopper, a geological consultant and resident of El Arrayán, Santiago, Chile, is the qualified person ("QP"), as defined by National Instrument 43-101 Standards for Disclosure for Mineral Projects, for the Valeriano Project. Mr. Hopper is a Chartered Geologist of the Geological Society of London, Fellow No. 1030584. The Valeriano Project resource estimates was undertaken by SRK Consulting (Chile) SpA. Joled Nur, Civil Mining Engineer, SRK Consulting (Chile) SpA, a member of the Public Register of Competent Persons in Mining Resources and Reserves of Chile, No. 181, was the independent QP who prepared the resource estimates.

Valeriano Resource Estimates Disclosure

The mineral resources are not confined by economic or mining parameters. The cut-off grades noted are for reporting purposes only and no economic conditions are implied. Metal recoveries were not considered. Equivalent grades are calculated based upon a gold price of $1,800 per ounce, a copper price of $3.00 per pound and a silver price of $25.00 per ounce. The formula for the equivalent grade calculations are as follows: Au_eq(g/t) = Au_g/t + (Ag_g/t x Ag_price / Au_price); and, Cu_eq(%) = (Cu_ppm / 10,000) + (Au_g/t x Au_price / 22.0462 x 31.0135 x Cu_price) + (Ag_g/t x Ag_price / 22.0462 x 31.0135 x Cu_price). All prices are in US$. For further details on the Valeriano resource estimates, see ATEX's "NI 43-101 Technical Report Valeriano Project Inferred Resources Estimates" dated November 13, 2020 filed at www.sedar.com.

About ATEX Resources Inc.

ATEX is a mineral exploration company focused on the acquisition, development and monetization of projects throughout the Americas. ATEX's flagship Valeriano Project is located in Chile's prolific El Indio Mineral Belt.

On behalf of ATEX Resources Inc.
Dr. Raymond Jannas
CEO

For additional information, please email info@atexresources.com or call 1-647-287-3778

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:

This news release contains forward-looking statements, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to: plans for the evaluation of the Valeriano property; the success of evaluation plans; the success of exploration activities; mine development prospects; and, potential for future metals production. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "planning", "expects" or "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, changes in economic parameters and assumptions, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; the conversion of inferred resources to the measured and indicated category; the results of regulatory and permitting processes; future metals price; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; labour disputes and other risks of the mining industry; the results of economic and technical studies, delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in ATEX's publicly filed documents.

Although ATEX has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/73349

Just because a business does not make any money, does not mean that the stock will go down. Indeed, Ironbark Zinc (ASX:IBG) stock is up 167% in the last year, providing strong gains for shareholders. But the harsh reality is that very many loss making companies burn through all their cash and go bankrupt.

Given its strong share price performance, we think it's worthwhile for Ironbark Zinc shareholders to consider whether its cash burn is concerning. In this report, we will consider the company's annual negative free cash flow, henceforth referring to it as the 'cash burn'. Let's start with an examination of the business' cash, relative to its cash burn.

See our latest analysis for Ironbark Zinc

Does Ironbark Zinc Have A Long Cash Runway?

A company's cash runway is the amount of time it would take to burn through its cash reserves at its current cash burn rate. As at June 2020, Ironbark Zinc had cash of AU$2.1m and no debt. Importantly, its cash burn was AU$1.4m over the trailing twelve months. That means it had a cash runway of around 19 months as of June 2020. That's not too bad, but it's fair to say the end of the cash runway is in sight, unless cash burn reduces drastically. The image below shows how its cash balance has been changing over the last few years.

How Is Ironbark Zinc's Cash Burn Changing Over Time?

Because Ironbark Zinc isn't currently generating revenue, we consider it an early-stage business. So while we can't look to sales to understand growth, we can look at how the cash burn is changing to understand how expenditure is trending over time. The 74% reduction in its cash burn over the last twelve months may be good for protecting the balance sheet but it hardly points to imminent growth. Ironbark Zinc makes us a little nervous due to its lack of substantial operating revenue. So we'd generally prefer stocks from this list of stocks that have analysts forecasting growth.

How Easily Can Ironbark Zinc Raise Cash?

There's no doubt Ironbark Zinc's rapidly reducing cash burn brings comfort, but even if it's only hypothetical, it's always worth asking how easily it could raise more money to fund further growth. Companies can raise capital through either debt or equity. Many companies end up issuing new shares to fund future growth. By looking at a company's cash burn relative to its market capitalisation, we gain insight on how much shareholders would be diluted if the company needed to raise enough cash to cover another year's cash burn.

Ironbark Zinc has a market capitalisation of AU$30m and burnt through AU$1.4m last year, which is 4.5% of the company's market value. That's a low proportion, so we figure the company would be able to raise more cash to fund growth, with a little dilution, or even to simply borrow some money.

Is Ironbark Zinc's Cash Burn A Worry?

It may already be apparent to you that we're relatively comfortable with the way Ironbark Zinc is burning through its cash. In particular, we think its cash burn reduction stands out as evidence that the company is well on top of its spending. Its cash runway wasn't quite as good, but was still rather encouraging! Considering all the factors discussed in this article, we're not overly concerned about the company's cash burn, although we do think shareholders should keep an eye on how it develops. Taking a deeper dive, we've spotted 4 warning signs for Ironbark Zinc you should be aware of, and 1 of them makes us a bit uncomfortable.

Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of companies insiders are buying, and this list of stocks growth stocks (according to analyst forecasts)

This article by Simply Wall St is general in nature. 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 (at) simplywallst.com.

It is not uncommon to see companies perform well in the years after insiders buy shares. On the other hand, we'd be remiss not to mention that insider sales have been known to precede tough periods for a business. So we'll take a look at whether insiders have been buying or selling shares in Canstar Resources Inc. (CVE:ROX).

What Is Insider Buying?

It is perfectly legal for company insiders, including board members, to buy and sell stock in a company. However, most countries require that the company discloses such transactions to the market.

We don't think shareholders should simply follow insider transactions. But it is perfectly logical to keep tabs on what insiders are doing. As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise'.

Check out our latest analysis for Canstar Resources

Canstar Resources Insider Transactions Over The Last Year

The Chairman Dennis Peterson made the biggest insider purchase in the last 12 months. That single transaction was for CA$125k worth of shares at a price of CA$0.05 each. We do like to see buying, but this purchase was made at well below the current price of CA$0.25. Because it occurred at a lower valuation, it doesn't tell us much about whether insiders might find today's price attractive.

Over the last year, we can see that insiders have bought 5.37m shares worth CA$398k. On the other hand they divested 125.00k shares, for CA$31k. Overall, Canstar Resources insiders were net buyers during the last year. They paid about CA$0.074 on average. We don't deny that it is nice to see insiders buying stock in the company. But we must note that the investments were made at well below today's share price. The chart below shows insider transactions (by companies and individuals) over the last year. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!

There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of growing companies that insiders are buying.

Have Canstar Resources Insiders Traded Recently?

There was only a small bit of insider buying, worth CA$5.9k, in the last three months. Overall, we don't think these recent trades are particularly informative, one way or the other.

Insider Ownership

Many investors like to check how much of a company is owned by insiders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. Our data indicates that Canstar Resources insiders own about CA$2.1m worth of shares (which is 12% of the company). Whilst better than nothing, we're not overly impressed by these holdings.

So What Do The Canstar Resources Insider Transactions Indicate?

Our data shows a little insider buying, but no selling, in the last three months. Overall the buying isn't worth writing home about. But insiders have shown more of an appetite for the stock, over the last year. The transactions are fine but it'd be more encouraging if Canstar Resources insiders bought more shares in the company. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. To that end, you should learn about the 4 warning signs we've spotted with Canstar Resources (including 2 which don't sit too well with us).

But note: Canstar Resources may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.

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

This article by Simply Wall St is general in nature. 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 (at) simplywallst.com.

It's possible to achieve returns close to the market-weighted average return by buying an index fund. A talented investor can beat the market with a diversified portfolio, but even then, some stocks will under-perform. While the Astro Resources NL (ASX:ARO) share price is down 33% over half a decade, the total return to shareholders (which includes dividends) was 122%. And that total return actually beats the market return of 66%. Unhappily, the share price slid 20% in the last week.

Check out our latest analysis for Astro Resources

Astro Resources didn't have any revenue in the last year, so it's fair to say it doesn't yet have a proven product (or at least not one people are paying for). You have to wonder why venture capitalists aren't funding it. So it seems shareholders are too busy dreaming about the progress to come than dwelling on the current (lack of) revenue. It seems likely some shareholders believe that Astro Resources will find or develop a valuable new mine before too long.

As a general rule, if a company doesn't have much revenue, and it loses money, then it is a high risk investment. There was already a significant chance that they would need more money for business development, and indeed they recently put themselves at the mercy of capital markets and raised equity. So the share price itself impacts the value of the shares (as it determines the cost of capital). While some such companies do very well over the long term, others become hyped up by promoters before eventually falling back down to earth, and going bankrupt (or being recapitalized).

Our data indicates that Astro Resources had more in total liabilities than it had cash, when it last reported. That made it extremely high risk, in our view. But since the share price has dived 8% per year, over 5 years , it looks like some investors think it's time to abandon ship, so to speak, even though the cash reserves look a little better with the capital raising. You can click on the image below to see (in greater detail) how Astro Resources' cash levels have changed over time.

It can be extremely risky to invest in a company that doesn't even have revenue. There's no way to know its value easily. What if insiders are ditching the stock hand over fist? I'd like that just about as much as I like to drink milk and fruit juice mixed together. You can click here to see if there are insiders selling.

What about the Total Shareholder Return (TSR)?

We've already covered Astro Resources' share price action, but we should also mention its total shareholder return (TSR). The TSR is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. Astro Resources hasn't been paying dividends, but its TSR of 122% exceeds its share price return of -33%, implying it has either spun-off a business, or raised capital at a discount; thereby providing additional value to shareholders.

A Different Perspective

Investors in Astro Resources had a tough year, with a total loss of , against a market gain of about 2.1%. Even the share prices of good stocks drop sometimes, but we want to see improvements in the fundamental metrics of a business, before getting too interested. Longer term investors wouldn't be so upset, since they would have made 17%, each year, over five years. If the fundamental data continues to indicate long term sustainable growth, the current sell-off could be an opportunity worth considering. 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. Even so, be aware that Astro Resources is showing 4 warning signs in our investment analysis , and 2 of those are a bit concerning…

For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.

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

This article by Simply Wall St is general in nature. 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 (at) simplywallst.com.

The big shareholder groups in Galan Lithium Limited (ASX:GLN) have power over the company. Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. Warren Buffett said that he likes "a business with enduring competitive advantages that is run by able and owner-oriented people." So it's nice to see some insider ownership, because it may suggest that management is owner-oriented.

Galan Lithium is not a large company by global standards. It has a market capitalization of AU$139m, which means it wouldn't have the attention of many institutional investors. Our analysis of the ownership of the company, below, shows that institutional investors have not yet purchased much of the company. Let's delve deeper into each type of owner, to discover more about Galan Lithium.

Check out our latest analysis for Galan Lithium

What Does The Institutional Ownership Tell Us About Galan Lithium?

Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index.

Institutions have a very small stake in Galan Lithium. That indicates that the company is on the radar of some funds, but it isn't particularly popular with professional investors at the moment. If the business gets stronger from here, we could see a situation where more institutions are keen to buy. When multiple institutional investors want to buy shares, we often see a rising share price. The past revenue trajectory (shown below) can be an indication of future growth, but there are no guarantees.

Hedge funds don't have many shares in Galan Lithium. Looking at our data, we can see that the largest shareholder is the CEO Juan Pablo de la Vega with 8.0% of shares outstanding. With 7.8% and 2.9% of the shares outstanding respectively, Havelock Mining Investments Limited and Terry Gardiner are the second and third largest shareholders. Interestingly, the third-largest shareholder, Terry Gardiner is also a Member of the Board of Directors, again, indicating strong insider ownership amongst the company's top shareholders.

Our studies suggest that the top 22 shareholders collectively control less than half of the company's shares, meaning that the company's shares are widely disseminated and there is no dominant shareholder.

While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. As far I can tell there isn't analyst coverage of the company, so it is probably flying under the radar.

Insider Ownership Of Galan Lithium

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.

Our information suggests that insiders maintain a significant holding in Galan Lithium Limited. Insiders own AU$33m worth of shares in the AU$139m company. 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 — mostly retail investors — own 60% of Galan Lithium. This size of ownership gives retail investors collective power. They can and probably do influence decisions on executive compensation, dividend policies and proposed business acquisitions.

Private Company Ownership

Our data indicates that Private Companies hold 14%, of the company's shares. It might be worth looking deeper into this. If related parties, such as insiders, have an interest in one of these private companies, that should be disclosed in the annual report. Private companies may also have a strategic interest in the company.

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. Like risks, for instance. Every company has them, and we've spotted 5 warning signs for Galan Lithium (of which 2 are potentially serious!) you should know about.

If you would prefer check out another company — one with potentially superior financials — then do not miss this free list of interesting companies, backed by strong financial data.

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.

This article by Simply Wall St is general in nature. 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 (at) simplywallst.com.

Vancouver, British Columbia–(Newsfile Corp. – January 26, 2021) – New Carolin Gold Corp. (TSXV: LAD) (OTC Pink: LADFF) (the "Company" or "New Carolin") is pleased to announce the results of its annual general meeting of shareholders (the "AGM") held on Friday, January 22, 2018 in Vancouver, Canada. Shareholders voted in favour of all items put forward by the Board of Directors and management of the Company. All three of the individuals nominated for the Board of Directors, namely Kenneth R. Holmes, Robert P. Lunde and Dr. Kent Ausburn, were elected at the AGM and will serve as directors of the Company for the ensuing year. The shareholders of the Company also voted in favour of appointing Crowe MacKay LLP, Chartered Accountants, as auditors of the Company for the ensuing year, authorizing directors to fix the auditors' remuneration and re-approving the Company's incentive stock option plan.

About New Carolin Gold Corp.

New Carolin Gold is a Canadian-based junior company focused on the exploration, evaluation and development of our 100% owned property consisting of 144 square kilometers of contiguous mineral claims and crown grants, collectively known as the "Ladner Gold Project" (Project). The Project is located near Hope, BC in the prospective and under-explored Coquihalla Gold Belt, which is host to several historic small gold producers including the Carolin Mine, Emancipation Mine and Pipestem Mine, and numerous gold prospects.

For additional information, please visit the Company's website at www.newcarolingold.com.

ON BEHALF OF THE BOARD OF DIRECTORS

"Kenneth R. Holmes"

President

Toll Free: 1(855) 891-9185
E-mail: ceo@newcarolingold.com
Web site: www.newcarolingold.com

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

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

Caution concerning forward-looking information

This news release may contain forward-looking statements that are based on the Company's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/72915

Monreal Quebec, Jan. 26, 2021 (GLOBE NEWSWIRE) — Montreal, Quebec, January 26, 2021 – SRG Mining Inc. (TSXV: SRG) (“SRG” or the “Company”) is pleased to announce that it has closed the first tranche (“Tranche 1”) of a private placement in the form of a convertible debt financing for USD$7.5M (approximately CAD$9.53M) (the “Financing”) with Sprott Private Resource Lending II (Collector), LP (“Sprott”). The Financing is the first portion of financial resources the Company will raise should it be successful in its bid to acquire the North American Lithium Inc. (“NAL”) assets pursuant to the procedures of the Sale and Investor Solicitation Process relating to NAL (“SISP).

The Company has been involved in the SISP since it was initially launched in October 2019. Since then, the Company has conducted thorough due diligence including multiple site visits and interviews with current and past management; interviews with previous lenders, owners and suppliers of NAL; a review of daily production reports; and technical studies. Furthermore, the Company conducted a review and remodelled the deposit’s geological model using NAL’s 2019 drilling results as this had not previously been completed by NAL.

With this information in hand, the Company prepared a full diagnosis of the NAL project and drew up an execution plan that involves recommissioning the NAL project as an integrated operation and producing lithium chemicals within a 36-month period. SRG intends to execute its plan while minimizing its environmental footprint, maintaining worker health and safety as a core value, respecting the interests of all stakeholders and ensuring long-term profitability of the project for its shareholders. The detailed plan, along with our bid, was presented to the Raymond Chabot Inc. as monitor pursuant to the SISP and the secured lenders including Contemporary Amperex Technology (“CATL”) and Investissement Québec (“IQ”).

“After several months of due diligence and consideration, we have submitted a bid and an action plan to the Monitor and the secured lenders, including the Government of Québec and IQ, which we believe will maximize stakeholder value in this project,” said Benoit La Salle, Executive Chairman of SRG. “Our offer provides secured lenders with meaningful repayment of their debts and gives IQ meaningful participation in the project via SRG shares should the project be successful. SRG is already in the battery materials space with a shovel-ready graphite project, and the addition of NAL would further strengthen our portfolio. Our team is made up of Québec-based mining specialists who have built their reputation on turning around distressed mining operations worldwide. Our bid, which is made by Quebecers for a Québec project, maximizes the lithium resource by providing for a conversion plant on site from day one of the restart.”

Convertible Senior Notes Debt Financing

Tranche 1

Tranche 1, which closed and was funded on January 25, 2021, comprised USD$800,000 and includes a subscription for 109,900 common shares of the Company (the “Incentive Shares”). Incentive Shares will be issued at a deemed price equal to a 10% discount to the January 22, 2021 closing share price, being $0.58 per share.

Tranche 1 will be convertible into common shares of the Company, at the discretion of Sprott, at a conversion price equal to C$0.70 per share (“Tranche 1 Conversion Price”).

Tranche 2

Tranche 2 represents USD$6,700,000 and shall be advanced upon certain conditions, including, amongst others, the successful closing of the equity raise contemplated for the acquisition of the NAL assets (the “Equity Financing”) should the Company be the winning bidder of the SISP for NAL (the “Closing Date”).

Tranche 2 will be convertible into common shares of the Company, at the discretion of Sprott, and upon regulatory approval, at a conversion price equal to the lesser of (i) C$0.74 per share or (ii) the Equity Financing price (“Tranche 2 Conversion Price”).

Concurrently, the Company will issue Sprott 5,000,000 warrants (each a “Warrant”), whereby each Warrant shall entitle the holder to purchase one common share and shall contain customary anti-dilution clauses. Warrants will be fully transferable and will have a term of 3 years from their date of issue and an exercise price equal to a 15% premium to the lesser of (a)the 20-day volume weighted average price of the common shares of the Company prior to the Closing Date and (b) the price at which common shares of the Company are issues as part of the Equity Financing price (the “Exercise Price”).

The interest rate of the convertible senior note under the Financing is 8.00% per annum, payable semi-annually in arrears on the last day of June and December in each year, commencing June 30, 2021 computed on the basis of a 360-day year composed of twelve 30-day months.

The Financing is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the final approval of the TSX Venture Exchange. All securities issuable in connection with the Financing are subject to a four-month hold period from the date of issuance in accordance with applicable Canadian securities laws.

Net proceeds from the Financing will be used to provide the necessary funds to complete and pursue the NAL bid.

About SRG Mining

SRG Mining is a Canadian-based mining company focused on developing the Lola graphite deposit located in the Republic of Guinea, West Africa. SRG is committed to operating in a socially, environmentally, and ethically responsible manner.

For additional information, please visit SRG’s website at www.srgmining.com.

About Sprott

Sprott is a global asset manager providing investors with access to highly-differentiated precious metals strategies. Sprott’s specialized investment products include innovative physical bullion trusts, managed equities, mining ETFs, as well as private equity and debt strategies. We also partner with natural resource companies to help meet their capital needs through our brokerage and resource lending activities. Sprott is based in Toronto and has offices in New York, San Diego and Vancouver. Sprott’s common shares are listed on the New York Stock Exchange and the Toronto Stock Exchange under the symbol “SII”.

Sprott today serves over 200,000 global clients and has approximately USD$16.3 billion in assets under management.

Contact :

Benoit La Salle, FCPA FCA

Email: benoit.lasalle@srgmining.com

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

Forward-Looking Statements

This press release contains "forward-looking information" within the meaning of Canadian securities legislation. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as “firm”, “anticipated”, “plan”, “intends”, “minimizing” maintaining”, “ensuring”, “potential”, “will”, “continue”, “demonstrate”, “deliver”, “believe”, or variations of such words and phrases or state that certain actions, events or results "may", "could", "would" or "might". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: (i) volatile stock price; (ii) the general global markets and economic conditions; (iii) the possibility of write-downs and impairments; (iv) the risk associated with exploration, development and operations of mineral deposits and mine plans for the Company’s mining operations; (v) the risk associated with establishing title to mineral properties and assets including permitting, development, operations and production from the Company’s operations being consistent with expectations and projections; (vi) fluctuations in commodity prices, finding offtake takers and potential clients or enforcing such agreements against same and other risks and factors described or referred to in the section entitled "Risk Factors" in the MD&A of the Company and which is available at www.sedar.com, all of which should be reviewed in conjunction with the information found in this news release.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company's business, operations and exploration plans and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is given as of the date of this press release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.

CONTACT: Ugo Landry-Tolszczuk SRG Mining ugo.landry.tolszczuk@srgmining.com Kathleen Jones-Bartels SRG Mining 6043417474 kathleen.bartels@srgmining.com

We can readily understand why investors are attracted to unprofitable companies. By way of example, Jindalee Resources (ASX:JRL) has seen its share price rise 357% over the last year, delighting many shareholders. Nonetheless, only a fool would ignore the risk that a loss making company burns through its cash too quickly.

So notwithstanding the buoyant share price, we think it's well worth asking whether Jindalee Resources'cash burn is too risky In this report, we will consider the company's annual negative free cash flow, henceforth referring to it as the 'cash burn'. Let's start with an examination of the business' cash, relative to its cash burn.

See our latest analysis for Jindalee Resources

When Might Jindalee Resources Run Out Of Money?

You can calculate a company's cash runway by dividing the amount of cash it has by the rate at which it is spending that cash. In June 2020, Jindalee Resources had AU$1.1m in cash, and was debt-free. Importantly, its cash burn was AU$1.6m over the trailing twelve months. So it had a cash runway of approximately 8 months from June 2020. That's quite a short cash runway, indicating the company must either reduce its annual cash burn or replenish its cash. However, if we extrapolate the company's recent cash burn trend, then it would have a longer cash run way. Depicted below, you can see how its cash holdings have changed over time.

How Is Jindalee Resources' Cash Burn Changing Over Time?

Whilst it's great to see that Jindalee Resources has already begun generating revenue from operations, last year it only produced AU$7.1k, so we don't think it is generating significant revenue, at this point. Therefore, for the purposes of this analysis we'll focus on how the cash burn is tracking. Over the last year its cash burn actually increased by 12%, which suggests that management are increasing investment in future growth, but not too quickly. That's not necessarily a bad thing, but investors should be mindful of the fact that will shorten the cash runway. Admittedly, we're a bit cautious of Jindalee Resources due to its lack of significant operating revenues. So we'd generally prefer stocks from this list of stocks that have analysts forecasting growth.

How Easily Can Jindalee Resources Raise Cash?

Since its cash burn is moving in the wrong direction, Jindalee Resources shareholders may wish to think ahead to when the company may need to raise more cash. Generally speaking, a listed business can raise new cash through issuing shares or taking on debt. Many companies end up issuing new shares to fund future growth. By comparing a company's annual cash burn to its total market capitalisation, we can estimate roughly how many shares it would have to issue in order to run the company for another year (at the same burn rate).

Jindalee Resources' cash burn of AU$1.6m is about 2.7% of its AU$61m market capitalisation. So it could almost certainly just borrow a little to fund another year's growth, or else easily raise the cash by issuing a few shares.

So, Should We Worry About Jindalee Resources' Cash Burn?

Even though its cash runway makes us a little nervous, we are compelled to mention that we thought Jindalee Resources' cash burn relative to its market cap was relatively promising. We don't think its cash burn is particularly problematic, but after considering the range of factors in this article, we do think shareholders should be monitoring how it changes over time. On another note, Jindalee Resources has 6 warning signs (and 2 which are a bit concerning) we think you should know about.

Of course Jindalee Resources may not be the best stock to buy. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks that insiders are buying.

This article by Simply Wall St is general in nature. 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 (at) simplywallst.com.

Vancouver, British Columbia–(Newsfile Corp. – January 22, 2021) – David H. Brett, President and CEO, Pacific Bay Minerals Ltd. (TSXV: PBM) ("Pacific Bay" or the "Company") reports that the Company has received TSX Venture Exchange approval to extend the closing date of the remaining 1,210,000 non flow-through units (the "NFT Units") at a price of $0.125 per NFT Unit, to February 5^th, 2021. Each NFT Unit consists of one common share and one warrant to purchase one additional common share at a price of $0.175 for one year.

The NFT Units form part of a $537,500 non-brokered flow-through and non flow-through private placement announced on November 4, 2020 (the "Financing"). The first tranche of the Financing closed on December 8, 2020, raising gross proceeds of $366,440. The Company will not proceed to close the remaining flow-through portion of the Financing. The Company may pay finder's fees on all or part of the remaining Financing in accordance with the policies of the TSX Venture Exchange.

The Company plans to use the proceeds of the financing to explore its 100% owned British Columbia gold and polymetallic properties and for working capital purposes.

Pacific Bay Minerals Ltd.
Per/

David H. Brett, MBA
President & CEO
Contact: David Brett, 604-682-2421, dbrett@pacificbayminerals.com

This news release contains "forward‐looking statements" within the meaning of Canadian securities legislation. Forward‐looking statements include, but are not limited to, statements with respect to the anticipated closing of the remaining portion of the Financing and the expected use of proceeds of the Financing.. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Pacific Bay will operate in the future. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward‐looking statements include, amongst others, the global economic climate, dilution, share price volatility and competition. Although Pacific Bay has attempted to identify important factors that could cause actual results to differ materially from those contained in forward‐looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward‐looking statements. Pacific Bay does not undertake to update any forward‐looking statements, except in accordance with applicable securities laws.

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/72668

Over the last month the Eden Innovations Ltd (ASX:EDE) has been much stronger than before, rebounding by 50%. But the last three years have seen a terrible decline. Indeed, the share price is down a whopping 78% in the last three years. So we're relieved for long term holders to see a bit of uplift. Of course the real question is whether the business can sustain a turnaround.

View our latest analysis for Eden Innovations

With just AU$2,431,139 worth of revenue in twelve months, we don't think the market considers Eden Innovations to have proven its business plan. This state of affairs suggests that venture capitalists won't provide funds on attractive terms. As a result, we think it's unlikely shareholders are paying much attention to current revenue, but rather speculating on growth in the years to come. For example, they may be hoping that Eden Innovations finds fossil fuels with an exploration program, before it runs out of money.

We think companies that have neither significant revenues nor profits are pretty high risk. We can see that they needed to raise more capital, and took that step recently despite the fact that it would have been dilutive to current holders. While some such companies do very well over the long term, others become hyped up by promoters before eventually falling back down to earth, and going bankrupt (or being recapitalized). Eden Innovations has already given some investors a taste of the bitter losses that high risk investing can cause.

Eden Innovations had liabilities exceeding cash when it last reported, according to our data. That put it in the highest risk category, according to our analysis. But with the share price diving 21% per year, over 3 years , it's probably fair to say that some shareholders no longer believe the company will succeed or they are worried about dilution with the recent cash injection. You can click on the image below to see (in greater detail) how Eden Innovations' cash levels have changed over time.

In reality it's hard to have much certainty when valuing a business that has neither revenue or profit. Given that situation, would you be concerned if it turned out insiders were relentlessly selling stock? I would feel more nervous about the company if that were so. It costs nothing but a moment of your time to see if we are picking up on any insider selling.

A Different Perspective

Investors in Eden Innovations had a tough year, with a total loss of 16%, against a market gain of about 3.0%. Even the share prices of good stocks drop sometimes, but we want to see improvements in the fundamental metrics of a business, before getting too interested. Regrettably, last year's performance caps off a bad run, with the shareholders facing a total loss of 8% per year over five years. Generally speaking long term share price weakness can be a bad sign, though contrarian investors might want to research the stock in hope of a turnaround. 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. Consider for instance, the ever-present spectre of investment risk. We've identified 5 warning signs with Eden Innovations (at least 1 which is potentially serious) , and understanding them should be part of your investment process.

Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of companies we expect will grow earnings.

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

This article by Simply Wall St is general in nature. 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 (at) simplywallst.com.

TORONTO, Jan. 21, 2021 /CNW/ – Hallett Homes, Primont, Valery Homes, and Argo Development Corporation are pleased to announce the launch of Joshua Creek Montage, North Oakville's stunning new community of luxury single detached executive homes and townhomes, coming soon in 2021.

Joshua Creek Montage will be among the last opportunities to purchase a home in one of North Oakville's most exclusive and luxurious enclaves. The project team is deeply committed to ensuring that Montage will be for generations the benchmark of what a community that is closely integrated into its natural environment looks and feels like.

That fact is evident in Joshua Creek Montage's 95.1-acre master-planned site, which includes initiatives such as a new 11-acre park. As well, Joshua Creek itself is planned to be transformed back into a natural wetland. At the community's southern boundary, the creek empties into a dramatic pond, which functions as a striking entrance to the new community and a central element in the area's water management system.

Joshua Creek Montage is a community with two purposes: respecting its natural heritage and open spaces, and providing an opportunity to live in a vibrant pedestrian-oriented "new town," similar to its near neighbour, historic Downtown Oakville.

Joshua Creek's Dundas Street is envisioned to become a new "main street north" in Midtown Oakville. A short stroll for Joshua Creek homeowners, it will be a place to shop, entertain, or meet friends for a latte or a drink.

Joshua Creek Montage is closely integrated into Oakville/Mississauga and the greater GTA via the GO Transit network and the 400 series highways. From the Clarkson GO stop, Joshua Creek is a mere 30-minute commute into Union Station, and just a half-hour drive into the city on the QEW.

But the most outstanding feature of the new Joshua Creek Montage community is its stunningly luxurious collection of new, executive detached homes and townhomes. Their design is inspired by the traditional Rural Village legacy of Old Oakville, as well as the most up-to-date contemporary designs. For more information, visit www.liveatmontage.ca.

HALLETT HOMES:
Hallett Homes is dedicated to building luxury homes in partnership with its homeowners. Hallett's high quality craftsmanship, innovative floorplans and design features set this builder apart, from the moment ground is broken. Hallett's personal approach engages homeowners throughout the process. From its extensive line of upscale custom finishes and premium design options chosen in partnership with its in-house design specialists, Hallett makes sure that your new home reflects your distinct vision and taste for luxury every step of the way. Hallett's reward is creating dream homes that far exceed expectations. Your reward is living in one.

PRIMONT:
For over 50 years, Primont has followed the simple philosophy of building every home as if it were their own and treating every customer as if they were a member of the family. For this reason, every Primont home benefits from years of experience. Prime locations, elegant design, superb craftsmanship and unrivaled customer service have made Primont a leading and trusted name in the industry. The proof of their passion and dynamic success can be found in the 3,000 homes Primont has built throughout the GTA.

VALERY HOMES:
Valery Homes has been building on a tradition of excellence for over 60 years. Attentive service, pride in craftsmanship, superior design and unsurpassed luxury are only a few of the values you can expect from a longstanding family-run business. Throughout the years, Valery Homes has been pairing artistic vision with the functionality of comfortable and inviting living spaces in an upscale and luxurious fashion. Valery produces leading-edge designs in the most welcoming neighbourhoods, where family values and quality of life go hand in hand. The Valery family tradition continues by delivering a personalized home buying experience while building exceptional quality homes throughout Southern Ontario.

SOURCE Hallet Homes

View original content: http://www.newswire.ca/en/releases/archive/January2021/21/c0802.html

Red River Resources Limited (ASX:RVR) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's forecasts. The consensus estimated revenue numbers rose, with their view now clearly much more bullish on the company's business prospects.

Following the upgrade, the most recent consensus for Red River Resources from its twin analysts is for revenues of AU$127m in 2021 which, if met, would be a substantial 101% increase on its sales over the past 12 months. Prior to the latest estimates, the analysts were forecasting revenues of AU$112m in 2021. The consensus has definitely become more optimistic, showing a substantial gain in revenue forecasts.

Check out our latest analysis for Red River Resources

Additionally, the consensus price target for Red River Resources increased 11% to AU$0.30, showing a clear increase in optimism from the analysts involved. The consensus price target is just an average of individual analyst targets, so – it could be handy to see how wide the range of underlying estimates is. There are some variant perceptions on Red River Resources, with the most bullish analyst valuing it at AU$0.40 and the most bearish at AU$0.20 per share. Note the wide gap in analyst price targets? This implies to us that there is a fairly broad range of possible scenarios for the underlying business.

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Red River Resources' past performance and to peers in the same industry. The analysts are definitely expecting Red River Resources' growth to accelerate, with the forecast 101% growth ranking favourably alongside historical growth of 59% per annum over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to grow their revenue at 1.2% per year. It seems obvious that, while the growth outlook is brighter than the recent past, the analysts also expect Red River Resources to grow faster than the wider industry.

The Bottom Line

The most important thing to take away from this upgrade is that analysts lifted their revenue estimates for this year. They're also forecasting more rapid revenue growth than the wider market. There was also a nice increase in the price target, with analysts apparently feeling that the intrinsic value of the business is improving. Seeing the dramatic upgrade to this year's forecasts, it might be time to take another look at Red River Resources.

That's a pretty serious upgrade, but shareholders might be even more pleased to know that forecasts expect Red River Resources to be able to reach break-even within the next few years. You can learn more about these forecasts, for free on our platform here.

Of course, seeing company management invest large sums of money in a stock can be just as useful as knowing whether analysts are upgrading their estimates. So you may also wish to search this free list of stocks that insiders are buying.

This article by Simply Wall St is general in nature. 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 (at) simplywallst.com.

We can readily understand why investors are attracted to unprofitable companies. For example, biotech and mining exploration companies often lose money for years before finding success with a new treatment or mineral discovery. Nonetheless, only a fool would ignore the risk that a loss making company burns through its cash too quickly.

So, the natural question for Minbos Resources (ASX:MNB) shareholders is whether they should be concerned by its rate of cash burn. For the purposes of this article, cash burn is the annual rate at which an unprofitable company spends cash to fund its growth; its negative free cash flow. First, we'll determine its cash runway by comparing its cash burn with its cash reserves.

Check out our latest analysis for Minbos Resources

How Long Is Minbos Resources' Cash Runway?

A cash runway is defined as the length of time it would take a company to run out of money if it kept spending at its current rate of cash burn. When Minbos Resources last reported its balance sheet in June 2020, it had zero debt and cash worth AU$748k. In the last year, its cash burn was AU$1.5m. Therefore, from June 2020 it had roughly 6 months of cash runway. That's quite a short cash runway, indicating the company must either reduce its annual cash burn or replenish its cash. The image below shows how its cash balance has been changing over the last few years.

How Is Minbos Resources' Cash Burn Changing Over Time?

Minbos Resources didn't record any revenue over the last year, indicating that it's an early stage company still developing its business. Nonetheless, we can still examine its cash burn trajectory as part of our assessment of its cash burn situation. It's possible that the 12% reduction in cash burn over the last year is evidence of management tightening their belts as cash reserves deplete. Minbos Resources makes us a little nervous due to its lack of substantial operating revenue. We prefer most of the stocks on this list of stocks that analysts expect to grow.

How Hard Would It Be For Minbos Resources To Raise More Cash For Growth?

While Minbos Resources is showing a solid reduction in its cash burn, it's still worth considering how easily it could raise more cash, even just to fuel faster growth. Issuing new shares, or taking on debt, are the most common ways for a listed company to raise more money for its business. Many companies end up issuing new shares to fund future growth. We can compare a company's cash burn to its market capitalisation to get a sense for how many new shares a company would have to issue to fund one year's operations.

Since it has a market capitalisation of AU$30m, Minbos Resources' AU$1.5m in cash burn equates to about 5.0% of its market value. Given that is a rather small percentage, it would probably be really easy for the company to fund another year's growth by issuing some new shares to investors, or even by taking out a loan.

How Risky Is Minbos Resources' Cash Burn Situation?

On this analysis of Minbos Resources' cash burn, we think its cash burn relative to its market cap was reassuring, while its cash runway has us a bit worried. Looking at the factors mentioned in this short report, we do think that its cash burn is a bit risky, and it does make us slightly nervous about the stock. On another note, we conducted an in-depth investigation of the company, and identified 6 warning signs for Minbos Resources (3 are a bit unpleasant!) that you should be aware of before investing here.

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

This article by Simply Wall St is general in nature. 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 (at) simplywallst.com.

Just because a business does not make any money, does not mean that the stock will go down. For example, Aruma Resources (ASX:AAJ) shareholders have done very well over the last year, with the share price soaring by 133%. But the harsh reality is that very many loss making companies burn through all their cash and go bankrupt.

Given its strong share price performance, we think it's worthwhile for Aruma Resources shareholders to consider whether its cash burn is concerning. In this article, we define cash burn as its annual (negative) free cash flow, which is the amount of money a company spends each year to fund its growth. We'll start by comparing its cash burn with its cash reserves in order to calculate its cash runway.

See our latest analysis for Aruma Resources

How Long Is Aruma Resources' Cash Runway?

A company's cash runway is calculated by dividing its cash hoard by its cash burn. In June 2020, Aruma Resources had AU$1.1m in cash, and was debt-free. Looking at the last year, the company burnt through AU$264k. That means it had a cash runway of about 4.3 years as of June 2020. A runway of this length affords the company the time and space it needs to develop the business. You can see how its cash balance has changed over time in the image below.

How Is Aruma Resources' Cash Burn Changing Over Time?

In our view, Aruma Resources doesn't yet produce significant amounts of operating revenue, since it reported just AU$615k in the last twelve months. Therefore, for the purposes of this analysis we'll focus on how the cash burn is tracking. The 76% reduction in its cash burn over the last twelve months may be good for protecting the balance sheet but it hardly points to imminent growth. Aruma Resources makes us a little nervous due to its lack of substantial operating revenue. So we'd generally prefer stocks from this list of stocks that have analysts forecasting growth.

Can Aruma Resources Raise More Cash Easily?

There's no doubt Aruma Resources' rapidly reducing cash burn brings comfort, but even if it's only hypothetical, it's always worth asking how easily it could raise more money to fund further growth. Issuing new shares, or taking on debt, are the most common ways for a listed company to raise more money for its business. Many companies end up issuing new shares to fund future growth. We can compare a company's cash burn to its market capitalisation to get a sense for how many new shares a company would have to issue to fund one year's operations.

Since it has a market capitalisation of AU$167m, Aruma Resources' AU$264k in cash burn equates to about 0.2% of its market value. So it could almost certainly just borrow a little to fund another year's growth, or else easily raise the cash by issuing a few shares.

Is Aruma Resources' Cash Burn A Worry?

As you can probably tell by now, we're not too worried about Aruma Resources' cash burn. In particular, we think its cash runway stands out as evidence that the company is well on top of its spending. And even its cash burn reduction was very encouraging. Looking at all the measures in this article, together, we're not worried about its rate of cash burn, which seems to be under control. Its important for readers to be cognizant of the risks that can affect the company's operations, and we've picked out 3 warning signs for Aruma Resources that investors should know when investing in the stock.

Of course Aruma Resources may not be the best stock to buy. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks that insiders are buying.

This article by Simply Wall St is general in nature. 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 (at) simplywallst.com.

We often see insiders buying up shares in companies that perform well over the long term. On the other hand, we'd be remiss not to mention that insider sales have been known to precede tough periods for a business. So shareholders might well want to know whether insiders have been buying or selling shares in New Hope Corporation Limited (ASX:NHC).

What Is Insider Selling?

It's quite normal to see company insiders, such as board members, trading in company stock, from time to time. However, such insiders must disclose their trading activities, and not trade on inside information.

We don't think shareholders should simply follow insider transactions. But equally, we would consider it foolish to ignore insider transactions altogether. For example, a Columbia University study found that 'insiders are more likely to engage in open market purchases of their own company’s stock when the firm is about to reveal new agreements with customers and suppliers'.

See our latest analysis for New Hope

New Hope Insider Transactions Over The Last Year

There wasn't any very large single transaction over the last year, but we can still observe some trading.

Happily, we note that in the last year insiders paid AU$96k for 80.00k shares. But insiders sold 38.09k shares worth AU$53k. Overall, New Hope insiders were net buyers during the last year. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!

New Hope is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.

Insiders at New Hope Have Sold Stock Recently

Over the last three months, we've seen a bit of insider selling at New Hope. Independent Non-Executive Director Ian Williams sold just AU$53k worth of shares in that time. Neither the lack of buying nor the presence of selling is heartening. But the amount sold isn't enough for us to put any weight on it.

Does New Hope Boast High Insider Ownership?

For a common shareholder, it is worth checking how many shares are held by company insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. It appears that New Hope insiders own 1.8% of the company, worth about AU$24m. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.

What Might The Insider Transactions At New Hope Tell Us?

An insider sold New Hope shares recently, but they didn't buy any. In contrast, they appear keener if you look at the last twelve months. It's good to see insiders are shareholders. So the recent selling doesn't worry us too much. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. In terms of investment risks, we've identified 2 warning signs with New Hope and understanding them should be part of your investment process.

If you would prefer to check out another company — one with potentially superior financials — then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.

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

This article by Simply Wall St is general in nature. 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 (at) simplywallst.com.

We can readily understand why investors are attracted to unprofitable companies. By way of example, Eclipse Metals (ASX:EPM) has seen its share price rise 320% over the last year, delighting many shareholders. But while the successes are well known, investors should not ignore the very many unprofitable companies that simply burn through all their cash and collapse.

So notwithstanding the buoyant share price, we think it's well worth asking whether Eclipse Metals'cash burn is too risky In this article, we define cash burn as its annual (negative) free cash flow, which is the amount of money a company spends each year to fund its growth. The first step is to compare its cash burn with its cash reserves, to give us its 'cash runway'.

Check out our latest analysis for Eclipse Metals

Does Eclipse Metals Have A Long Cash Runway?

You can calculate a company's cash runway by dividing the amount of cash it has by the rate at which it is spending that cash. As at June 2020, Eclipse Metals had cash of AU$962k and no debt. Looking at the last year, the company burnt through AU$366k. So it had a cash runway of about 2.6 years from June 2020. Arguably, that's a prudent and sensible length of runway to have. You can see how its cash balance has changed over time in the image below.

How Is Eclipse Metals' Cash Burn Changing Over Time?

Whilst it's great to see that Eclipse Metals has already begun generating revenue from operations, last year it only produced AU$68k, so we don't think it is generating significant revenue, at this point. As a result, we think it's a bit early to focus on the revenue growth, so we'll limit ourselves to looking at how the cash burn is changing over time. With the cash burn rate up 11% in the last year, it seems that the company is ratcheting up investment in the business over time. That's not necessarily a bad thing, but investors should be mindful of the fact that will shorten the cash runway. Eclipse Metals makes us a little nervous due to its lack of substantial operating revenue. We prefer most of the stocks on this list of stocks that analysts expect to grow.

Can Eclipse Metals Raise More Cash Easily?

Given its cash burn trajectory, Eclipse Metals shareholders may wish to consider how easily it could raise more cash, despite its solid cash runway. Generally speaking, a listed business can raise new cash through issuing shares or taking on debt. Many companies end up issuing new shares to fund future growth. We can compare a company's cash burn to its market capitalisation to get a sense for how many new shares a company would have to issue to fund one year's operations.

Since it has a market capitalisation of AU$28m, Eclipse Metals' AU$366k in cash burn equates to about 1.3% of its market value. So it could almost certainly just borrow a little to fund another year's growth, or else easily raise the cash by issuing a few shares.

Is Eclipse Metals' Cash Burn A Worry?

As you can probably tell by now, we're not too worried about Eclipse Metals' cash burn. For example, we think its cash burn relative to its market cap suggests that the company is on a good path. While its increasing cash burn wasn't great, the other factors mentioned in this article more than make up for weakness on that measure. After taking into account the various metrics mentioned in this report, we're pretty comfortable with how the company is spending its cash. On another note, we conducted an in-depth investigation of the company, and identified 4 warning signs for Eclipse Metals (1 doesn't sit too well with us!) that you should be aware of before investing here.

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

This article by Simply Wall St is general in nature. 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 (at) simplywallst.com.

With the business potentially at an important milestone, we thought we'd take a closer look at Andromeda Metals Limited's (ASX:ADN) future prospects. Andromeda Metals Limited, together with its subsidiaries, operates as a mineral exploration company in Australia. The AU$656m market-cap company announced a latest loss of AU$3.4m on 30 June 2020 for its most recent financial year result. As path to profitability is the topic on Andromeda Metals' investors mind, we've decided to gauge market sentiment. In this article, we will touch on the expectations for the company's growth and when analysts expect it to become profitable.

Check out our latest analysis for Andromeda Metals

Expectations from some of the Australian Metals and Mining analysts is that Andromeda Metals is on the verge of breakeven. They expect the company to post a final loss in 2021, before turning a profit of AU$3.6m in 2022. So, the company is predicted to breakeven just over a year from today. What rate will the company have to grow year-on-year in order to breakeven on this date? Using a line of best fit, we calculated an average annual growth rate of 57%, which is rather optimistic! Should the business grow at a slower rate, it will become profitable at a later date than expected.

Given this is a high-level overview, we won’t go into details of Andromeda Metals' upcoming projects, but, keep in mind that typically a metal and mining business has lumpy cash flows which are contingent on the natural resource mined and stage at which the company is operating. This means that a high growth rate is not unusual, especially if the company is currently in an investment period.

Before we wrap up, there’s one aspect worth mentioning. Andromeda Metals currently has no debt on its balance sheet, which is rare for a loss-making metals and mining company, which typically has high debt relative to its equity. This means that the company has been operating purely on its equity investment and has no debt burden. This aspect reduces the risk around investing in the loss-making company.

Next Steps:

There are too many aspects of Andromeda Metals to cover in one brief article, but the key fundamentals for the company can all be found in one place – Andromeda Metals' company page on Simply Wall St. We've also compiled a list of important factors you should look at:

1. Valuation: What is Andromeda Metals worth today? Has the future growth potential already been factored into the price? The intrinsic value infographic in our free research report helps visualize whether Andromeda Metals is currently mispriced by the market.

2. Management Team: An experienced management team on the helm increases our confidence in the business – take a look at who sits on Andromeda Metals’s board and the CEO’s background.

3. Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore our free list of these great stocks here.

This article by Simply Wall St is general in nature. 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 (at) simplywallst.com.

There's no doubt that money can be made by owning shares of unprofitable businesses. For example, although software-as-a-service business Salesforce.com lost money for years while it grew recurring revenue, if you held shares since 2005, you'd have done very well indeed. But the harsh reality is that very many loss making companies burn through all their cash and go bankrupt.

So, the natural question for Renascor Resources (ASX:RNU) shareholders is whether they should be concerned by its rate of cash burn. In this article, we define cash burn as its annual (negative) free cash flow, which is the amount of money a company spends each year to fund its growth. First, we'll determine its cash runway by comparing its cash burn with its cash reserves.

Check out our latest analysis for Renascor Resources

How Long Is Renascor Resources' Cash Runway?

A company's cash runway is the amount of time it would take to burn through its cash reserves at its current cash burn rate. As at June 2020, Renascor Resources had cash of AU$1.9m and no debt. Importantly, its cash burn was AU$2.8m over the trailing twelve months. Therefore, from June 2020 it had roughly 8 months of cash runway. To be frank, this kind of short runway puts us on edge, as it indicates the company must reduce its cash burn significantly, or else raise cash imminently. Depicted below, you can see how its cash holdings have changed over time.

How Is Renascor Resources' Cash Burn Changing Over Time?

Because Renascor Resources isn't currently generating revenue, we consider it an early-stage business. Nonetheless, we can still examine its cash burn trajectory as part of our assessment of its cash burn situation. Given the length of the cash runway, we'd interpret the 47% reduction in cash burn, in twelve months, as prudent if not necessary for capital preservation. Admittedly, we're a bit cautious of Renascor Resources due to its lack of significant operating revenues. So we'd generally prefer stocks from this list of stocks that have analysts forecasting growth.

How Easily Can Renascor Resources Raise Cash?

Even though it has reduced its cash burn recently, shareholders should still consider how easy it would be for Renascor Resources to raise more cash in the future. Issuing new shares, or taking on debt, are the most common ways for a listed company to raise more money for its business. One of the main advantages held by publicly listed companies is that they can sell shares to investors to raise cash and fund growth. By comparing a company's annual cash burn to its total market capitalisation, we can estimate roughly how many shares it would have to issue in order to run the company for another year (at the same burn rate).

Renascor Resources has a market capitalisation of AU$28m and burnt through AU$2.8m last year, which is 10.0% of the company's market value. That's a low proportion, so we figure the company would be able to raise more cash to fund growth, with a little dilution, or even to simply borrow some money.

Is Renascor Resources' Cash Burn A Worry?

On this analysis of Renascor Resources' cash burn, we think its cash burn reduction was reassuring, while its cash runway has us a bit worried. Even though we don't think it has a problem with its cash burn, the analysis we've done in this article does suggest that shareholders should give some careful thought to the potential cost of raising more money in the future. An in-depth examination of risks revealed 4 warning signs for Renascor Resources that readers should think about before committing capital to this stock.

Of course Renascor Resources may not be the best stock to buy. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks that insiders are buying.

This article by Simply Wall St is general in nature. 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 (at) simplywallst.com.

QUÉBEC CITY, Jan. 14, 2021 (GLOBE NEWSWIRE) — Robex Resources Inc. (“Robex” or the “Company”) (TSXV: RBX/FRA: RB4) is preparing for the future and furthering its expertise as it appoints Serge Telle as special advisor to management and the board of directors, and Aurélien Bonneviot as Head of Investor relations and Corporate development.

Serge Telle is a French ambassador with significant experience in international relations. He joined the French Foreign Service in 1982 and was appointed at the French embassy in Dar es Salam, Tanzania. He has developed great expertise in the UN system after spending 5 years at the Permanent Mission of France in New York, from 1983 to 1988. He then spent almost 5 years as head of the coordination structure for humanitarian affairs in the UN’s Geneva office, from 1993 to 1997.

Serge Telle has worked with a number of political figures. He was diplomatic advisor to the minister of humanitarian affairs, Bernard Kouchner, and worked with the French Prime Minister, Lionel Jospin.

Serge Telle served as the first French ambassador to Monaco in 2005 and was subsequently appointed Minister of State (Prime Minister), from January 2016 until September 2020.

Aurélien Bonneviot has more than a decade of experience in capital markets and was most recently Senior Investment Manager at Greenstone Resources, a private equity fund specializing in the mining sector. Aurélien Bonneviot started as a sell-side mining analyst at Société Générale and Oddo-BHF and subsequently moved to the buy side as commodities analyst and portfolio manager at SMA Gestion. In 2014, Aurélien Bonneviot joined Louis Dreyfus Metals (now IXM) as a Business Development Manager until its acquisition by China Molybdenum in 2018.

Benjamin Cohen, CEO: “We warmly welcome Serge and Aurélien to our team. They will both bring a very complementary skillset to our team as we look to grow our company beyond Nampala. I believe that 2021 will be an exciting year for us as we have a highly profitable operation and an ambitious exploration program, and with these two additions we will now be able to transact on the opportunities we see in West Africa.”

George Cohen, Chairman: “I have known Serge Telle for decades. He will be able to guide our team in the complex world of international relations in Africa. Together with Aurélien Bonneviot, they will help management deliver our strategy to create a group with multiple assets and a strong business model aligned with shareholder value creation.”

For more information about Robex, please visit our website at https://robexgold.com/en/.

About Robex:

Robex Gold is a TSX-V listed company with exploration properties in Mali and an operating mine that produced 39,267 ounces of gold in the first 9 months of 2020. The group has a strong business model, which demonstrated great results with the Nampala mine. With this experience, Robex is now striving to grow in West Africa by acquiring and/or developing new mines.

For more information:

Benjamin Cohen, CEO
Aurélien Bonneviot, investor relations and corporate development
a.bonneviot@robexgold.com
Head office: +1(581) 741-7421

This press release contains statements that may be considered “forecast information” or “forecast statements” in terms of security rights. These forecasts are subject to uncertainties and risks, some of which are beyond the control of Robex. Achievements and final results may differ significantly from implicit or explicit forecasts. These differences can be attributed to many factors, including market volatility, the impact of the exchange rate and interest rate fluctuations, mispricing, the environment (tighter regulations), unforeseen geological situations, unfavourable operating conditions, political risks inherent in mining in developing countries, changes in government policies or regulations (laws and policies), an inability to obtain necessary permits and approvals from government agencies, or any other risk associated with mining and development. There can be no assurance that the circumstances set out in these forecasts will occur, or even benefit Robex. The forecasts are based on the estimates and opinions of the Robex management team at the time of publication. Robex makes no commitment to make any updates or changes to these publicly available forecasts based on new information or events, or for any other reason, except as required by applicable security laws. The TSX Venture Exchange or the Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) assumes no responsibility for the authenticity or accuracy of this press release.

TILBURY, ON and CALGARY, AB, Jan. 12, 2021 /CNW/ – The Board of Directors of RS Technologies Inc. ("RS" or the "Company") is pleased to announce the appointment of Donald J. Lowry as Chairman of the Board, effective December 9, 2020. Prior to his appointment as Chairman, Don has been an independent director of RS since the fall of 2019. David Werklund, who has served as Chairman since 2013, is stepping down from his role and will remain on the Company's Board of Directors. The Board thanks David for his stellar leadership as Chairman and his guidance in navigating RS to where it is today.

"We are very fortunate to have attracted someone with Don's North American utility industry background and capital markets experience," stated David Werklund. "Don brings a seasoned perspective to our discussions and has become an indispensable part of our Board. We look forward to working with Don in his new capacity as Chairman."

"RS is thrilled to benefit from Don's wealth of experience, particularly his focus on ESG matters as it aligns well with RS's composite utility poles that are industry leading in environmental and sustainability performance," said Howard Elliott, President and CEO of RS.

About RS Technologies Inc. (RS)
RS designs and manufactures the world's highest-performing composite utility poles that are safer, more reliable and longer-lasting than wood, steel, and concrete poles. RS poles are used in transmission (up to 345kV), distribution and communication applications, are environmentally friendly and consistently deliver the lowest total installed and lifecycle cost solution of any pole on the market. More information on RS and its poles is available at RSpoles.com.

View original content to download multimedia:http://www.prnewswire.com/news-releases/rs-technologies-inc-board-of-directors-appoints-donald-j-lowry-as-new-chairman-301207033.html

SOURCE RS Technologies Inc.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2021/12/c9954.html

VANCOUVER, British Columbia, Jan. 13, 2021 (GLOBE NEWSWIRE) — Novo Resources Corp. (“Novo” or the “Company”) (TSX: NVO & NVO.WT; OTCQX: NSRPF) is pleased to announce that Mr. Michael Spreadborough has accepted an invitation to join its board of directors.

Michael Spreadborough is currently CEO of Metals X Limited (ASX: MLX) and previously Managing Director & CEO of Nusantara Resources and a Non-Executive Director of CleanTeQ Holdings. Mr. Spreadborough has a mining engineering background, with over 30 years’ experience in mining lead, zinc, uranium, copper, gold and iron ore.

He has held roles across the scope of the resources industry from business and project development, to operations and exploration. In recent times, Mr. Spreadborough was the General Manager – Mining for Western Mining Corporation, and then later the Vice President – Mining for BHP Billiton, at the world-class Olympic Dam Mine in South Australia. Mr. Spreadborough was previously the General Manager – Coastal Operations for Rio Tinto, responsible for port operations and the Pannawonica mine site in the Pilbara region of Western Australia. He then assumed the position of Chief Operating Officer for Inova Resources Ltd (formerly Ivanhoe Australia) and Sandfire Resources.

Mr. Spreadborough holds a Bachelor of Mining Engineering from the University of Queensland, an MBA from Deakin University, and a WA First Class Mine Manager’s Certificate of Competency. Additionally, Mr. Spreadborough is a Fellow of the Australasian Institute of Mining and Metallurgy and a member of the Australian Institute of Company Directors.

“Novo is delighted to welcome Mr. Spreadborough to our board of directors,” commented Dr. Quinton Hennigh, President and Chairman of the Company. “Mr. Spreadborough brings with him a wealth of Australian resource industry operational experience and international executive public company experience. His experience strengthens operational oversight within Novo’s board. We look forward to working with Mike as we advance towards production.”

The Company is also pleased to report that development at its Nullagine gold project continues in line with schedule and budget. Further detailed operational updates will be released over the coming weeks.

About Novo Resources Corp.

Novo is advancing its flagship Beatons Creek gold project to production while exploring and developing its highly prospective land package covering approximately 14,000 square kilometres in the Pilbara region of Western Australia. In addition to the Company’s primary focus, Novo seeks to leverage its internal geological expertise to deliver value-accretive opportunities to its shareholders. For more information, please contact Leo Karabelas at (416) 543-3120 or e-mail leo@novoresources.com

On Behalf of the Board of Directors,

Novo Resources Corp.

“Quinton Hennigh”

Quinton Hennigh
President and Chairman

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

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility of prices, but whether you will suffer a permanent loss of capital.' So it seems the smart money knows that debt – which is usually involved in bankruptcies – is a very important factor, when you assess how risky a company is. We note that Robex Resources Inc. (CVE:RBX) does have debt on its balance sheet. But the more important question is: how much risk is that debt creating?

When Is Debt A Problem?

Debt is a tool to help businesses grow, but if a business is incapable of paying off its lenders, then it exists at their mercy. If things get really bad, the lenders can take control of the business. However, a more usual (but still expensive) situation is where a company must dilute shareholders at a cheap share price simply to get debt under control. Of course, plenty of companies use debt to fund growth, without any negative consequences. The first thing to do when considering how much debt a business uses is to look at its cash and debt together.

Check out our latest analysis for Robex Resources

What Is Robex Resources's Net Debt?

The image below, which you can click on for greater detail, shows that Robex Resources had debt of CA$7.96m at the end of September 2020, a reduction from CA$23.5m over a year. However, its balance sheet shows it holds CA$9.41m in cash, so it actually has CA$1.45m net cash.

A Look At Robex Resources' Liabilities

Zooming in on the latest balance sheet data, we can see that Robex Resources had liabilities of CA$18.4m due within 12 months and liabilities of CA$8.05m due beyond that. Offsetting this, it had CA$9.41m in cash and CA$4.95m in receivables that were due within 12 months. So its liabilities total CA$12.1m more than the combination of its cash and short-term receivables.

Of course, Robex Resources has a market capitalization of CA$278.6m, so these liabilities are probably manageable. However, we do think it is worth keeping an eye on its balance sheet strength, as it may change over time. Despite its noteworthy liabilities, Robex Resources boasts net cash, so it's fair to say it does not have a heavy debt load!

Even more impressive was the fact that Robex Resources grew its EBIT by 469% over twelve months. That boost will make it even easier to pay down debt going forward. There's no doubt that we learn most about debt from the balance sheet. But it is Robex Resources's earnings that will influence how the balance sheet holds up in the future. So when considering debt, it's definitely worth looking at the earnings trend. Click here for an interactive snapshot.

But our final consideration is also important, because a company cannot pay debt with paper profits; it needs cold hard cash. While Robex Resources has net cash on its balance sheet, it's still worth taking a look at its ability to convert earnings before interest and tax (EBIT) to free cash flow, to help us understand how quickly it is building (or eroding) that cash balance. Over the last three years, Robex Resources recorded free cash flow worth a fulsome 90% of its EBIT, which is stronger than we'd usually expect. That puts it in a very strong position to pay down debt.

Summing up

While it is always sensible to look at a company's total liabilities, it is very reassuring that Robex Resources has CA$1.45m in net cash. The cherry on top was that in converted 90% of that EBIT to free cash flow, bringing in CA$49m. So is Robex Resources's debt a risk? It doesn't seem so to us. The balance sheet is clearly the area to focus on when you are analysing debt. However, not all investment risk resides within the balance sheet – far from it. Be aware that Robex Resources is showing 1 warning sign in our investment analysis , you should know about…

Of course, if you're the type of investor who prefers buying stocks without the burden of debt, then don't hesitate to discover our exclusive list of net cash growth stocks, today.

This article by Simply Wall St is general in nature. 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 (at) simplywallst.com.

VANCOUVER, BC / ACCESSWIRE / January 6, 2021 / GGL Resources Corp. (TSXV:GGL) ("GGL" or the "Company") is pleased to announce the results of reconnaissance-scale prospecting and surface sampling conducted in late October at its past-producing Gold Point mesothermal gold/silver project, located in the Walker Lane Trend, southwestern Nevada. The Company also reports that its initial program of underground sampling has recently been completed at the Great Western Mine, one of the two main former producers on the Gold Point property.

The surface work was designed to confirm the location of historical workings and tailings storage areas, characterize historically documented vein exposures, prospect for undocumented veins and assess the accessibility of historical underground workings for future work program planning.

Highlights from surface sampling include:

• 64.6 g/t gold and 110 g/t silver from the ore bin at the Orleans Mine;

• 51.6 g/t gold and 230 g/t silver float sample collected from a structure parallel to the nearby Great Western Vein;

• 30.3 g/t gold and 27.4 g/t gold grab samples taken from previously undocumented veins located 30 m apart; and

• 25.1 g/t gold collected from a waste pile adjacent to a shaft targeting an undocumented vein.

"We are extremely excited about the results from our reconnaissance-scale exploration at the Gold Point property," stated David Kelsch, President of GGL. "The results not only confirm the presence of significant mineralization at the known past-producing mines, but also demonstrate excellent potential elsewhere on the property in areas that have seen little historical work. We look forward to the results from our initial underground sampling campaign."

The following table lists samples grading greater than 3 g/t gold that were collected across the property as shown on the attached figure.

Tailings
During the surface exploration program, samples were collected from historical tailings storage facilities to determine if potentially economical gold and silver remain. Records indicate the tailings storage facilities were established in the 1930s or earlier. They cover an area of approximately 23,000 m² and range from 0.4 m to 2.0 m in thickness.

Twenty-five representative samples were collected from the main tailings storage area and, another six samples collected from a smaller secondary area, believed to be older. Samples collected from the main tailings storage area returned 0.286 g/t gold to 3.62 g/t gold (averaging 1.04 g/t gold), while the samples collected from the secondary storage area ranged from 1.645 g/t gold to 27.4 g/t gold (averaging 2.62 g/t gold excluding the highest grade sample).

Detailed surveying, sampling, and testing are planned to accurately determine the volume and grade of the tailings, as well as recoverability of gold and silver.

Underground Sampling
Access to the underground workings at the Great Western Mine was re-established in December 2020. Field crews have now completed sampling of the 100 through 500 levels of the mine with the collection of 169 chip samples. Results will be released upon completion.

Next Steps
Planning and permitting are underway for the next exploration program, expected to commence in Q1 of this year. This program is fully funded and will include reverse-circulation drilling, excavator trenching, rehabilitation work, and sampling at the Orleans Mine, the other main, former producer on the property. The initial drilling will test near to and along strike of known mineralization at the Great Western Mine. Later drill programs will be designed to test targets elsewhere on this under-explored project as additional results become available and comprehensive geological models are developed.

About Gold Point
The Gold Point project is accessible via highway 774 and serviced by electricity. It hosts a camp-scale precious metal system that consists of numerous gold and silver rich quartz veins. These high-grade veins are typically 1 to 2 m in width and locally up to 7 m wide. Two veins (Orleans and Great Western) were intermittently mined from the 1880s through to the early 1960s. Existing underground workings are mostly open and are dry to approximately 275 m below surface on the Orleans Vein (1020 ft level) and 240 m on the Great Western Vein, (960 ft level). Historical records indicate that the mines had high cut-off grades (about 10 g/t gold), suggesting that well mineralized areas likely remain in un-mined portions of the developed workings. This assumption is further supported by a report that describes 35 historical samples collected post-mining across the Orleans Vein from the 960 ft to 1020 ft levels, which averaged 0.389 opt (13.3 g/t) gold including a vein on the 1000 ft level that returned 7.97 opt (273.2 g/t) gold over 0.5 m. Additionally, 21 samples from the 600 ft to 1020 ft levels reportedly averaged 0.314 opt (10.77 g/t) gold. Historical records indicate that approximately 74,000 ounces were produced from the Orleans and Great Western Mines, with recoveries of 92% to 98% for gold through cyanidation.

All analyses were performed by ALS Minerals in Reno, Nevada. All samples were routinely analyzed for gold by a 50 g fire assay followed by atomic absorption (Au-AA24 or Au-AA26) and 48 elements by inductively coupled plasma-mass spectrometry (ME-MS61).

Technical information in this news release has been reviewed and approved by Matthew R. Dumala, P.Eng., a geological engineer with Archer, Cathro & Associates (1981) Limited and a qualified person for the purposes of National Instrument 43-101.

About GGL Resources Corp.
GGL is a seasoned, Canadian-based junior exploration company, focused on the exploration and advancement of under evaluated mineral assets in politically stable, mining friendly jurisdictions. The Company has recently acquired an option on the Gold Point project in the prolific Walker Lane Trend, Nevada, which consolidated several gold-silver veins, two of which were past producing high-grade mines. The Company also holds the McConnell gold-copper project located 22 kilometers southeast of the Kemess Mine in north-central BC, and promising diamond exploration projects in Nunavut and the Lac de Gras diamond district of the Northwest Territories. Lac de Gras is home to Canada's first two diamond mines, the world class Diavik and Ekati mines discovered in the 1990s. GGL also holds diamond royalties on mineral leases in close proximity to the Gahcho Kué diamond mine in the Northwest Territories.

ON BEHALF OF THE BOARD
"David Kelsch"
David Kelsch
President, COO and Director

For further information concerning GGL Resources Corp. or its various exploration projects please visit our website at www.gglresourcescorp.com or contact:

Investor Inquiries
Richard Drechsler
Corporate Communications
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
rdrechsler@strategicmetalsltd.com

Corporate Information
Linda Knight
Corporate Secretary
Tel: (604) 688-0546
info@gglresourcescorp.com

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

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

SOURCE: GGL Resources Corp.

View source version on accesswire.com:
https://www.accesswire.com/623201/GGL-Resources-Corp-Announces-Initial-Sampling-Results-from-Gold-Point-Nevada

MELBOURNE, Australia, Jan. 6, 2021 /CNW/ – AustralianSuper announces that it acquired 47,534,965 ordinary shares ("Shares") in the capital of Jervois Mining Limited (ASX: JRV) (TSXV: JRV) ("Jervois") on 27 October 2020 and a further 13,120,773 Shares on 3 December 2020, such that immediately following the second acquisition, AustralianSuper held a total of 108,450,700 (or approximately 13.71%) of the issued and outstanding Shares in Jervois.

The Shares were acquired pursuant to private placements by Jervois to institutional and sophisticated investors. The average purchase price per Share was AUD0.305/CAD0.29 for an aggregate total purchase consideration of AUD18.5 million/CAD17.6 million.

The head office of Jervois is located at Suite 508, 737 Burwood Road, Hawthorn East, Victoria, 3123, Australia.

AustralianSuper acquired the Shares for investment purposes in the normal course of its business and not with the purpose of influencing the control or direction of Jervois. AustralianSuper may in the future, subject to market conditions, make additional investments in or dispositions of Jervois' securities for investment purposes.

This news release is issued by AustralianSuper pursuant to National Instrument 62-104 Take-Over Bids and Issuer Bids of the Canadian Securities Administrators. AustralianSuper will file a report in respect of its acquisition of Shares with the applicable securities commission or securities regulator in each Canadian jurisdiction in which Jervois is a reporting issuer. A copy of the report may be obtained from Janine Cooper (phone: +61 3 8677 3203) at Level 33/50 Lonsdale Street Melbourne, Victoria, 3000, Australia. AustralianSuper has also made the necessary disclosures on the Australian Stock Exchange (ASX).

About AustralianSuper

AustralianSuper is Australia's largest superannuation fund and is regulated by the Australian Prudential Regulation Authority. AustralianSuper manages more than A$200 billion of members' retirement savings on behalf of more than 2.3 million members from around 333,000 businesses as at 30 November 2020.

SOURCE AustralianSuper

View original content: http://www.newswire.ca/en/releases/archive/January2021/06/c5867.html

VANCOUVER, BC / ACCESSWIRE / January 5, 2021 / International Millennium Mining Corp. (TSXV:IMI) (the “Company” or “IMMC”) is pleased to announce that further to its June 12, 2020, announcement of the resignation of its chief financial officer, the directors of the Company have approved the appointment of Mr. Lonny Wong as chief financial officer of the Company.

Mr. Wong is a founding partner at Saturna Group Chartered Professional Accountants LLP and has extensive experience serving public companies. Saturna Group is a boutique firm specializing in providing accounting, auditing, assurance, and consulting services to public companies and companies looking to go public in Canada or in the United States.

Stock Option Grant
The Company also announces the issuance of 300,000 stock options with an exercise price of $0.05 cents per share for the purchase of up to 300,000 shares of the Company, expiring July 7, 2025. The stock options are being issued to Mr. Wong, and are subject to approval by regulatory authorities.

International Millennium Mining Corp. (TSXV:IMI) is focused on the exploration and development of its Silver Peak silver-gold project in southwest Nevada. The Company's common shares trade on the Exchange under the symbol: IMI.

ON BEHALF OF THE BOARD
“John A. Versfelt”
John A. Versfelt
President and CEO

Further information about the Company can be found on SEDAR , the Company's website or by contacting Mr. John Versfelt, President & CEO of the Company at 604-527-8135.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs and other business transactions timing. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

SOURCE: International Millennium Mining Corp.

View source version on accesswire.com:
https://www.accesswire.com/623232/International-Millennium-Mining-Corp-Announces-Officer-Appointment

Whilst it may not be a huge deal, we thought it was good to see that the TNR Gold Corp. (CVE:TNR) Executive Chairman, Kirill Klip, recently bought CA$50k worth of stock, for CA$0.05 per share. Although the purchase is not a big one, increasing their shareholding by only 3.0%, it can be interpreted as a good sign.

View our latest analysis for TNR Gold

TNR Gold Insider Transactions Over The Last Year

In fact, the recent purchase by Executive Chairman Kirill Klip was not their only acquisition of TNR Gold shares this year. They previously made an even bigger purchase of CA$102k worth of shares at a price of CA$0.03 per share. We do like to see buying, but this purchase was made at well below the current price of CA$0.065. Because it occurred at a lower valuation, it doesn't tell us much about whether insiders might find today's price attractive.

In the last twelve months TNR Gold insiders were buying shares, but not selling. Their average price was about CA$0.036. To my mind it is good that insiders have invested their own money in the company. However, you should keep in mind that they bought when the share price was meaningfully below today's levels. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!

TNR Gold is not the only stock that insiders are buying. For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.

Insider Ownership of TNR Gold

Many investors like to check how much of a company is owned by insiders. We usually like to see fairly high levels of insider ownership. TNR Gold insiders own about CA$5.0m worth of shares (which is 45% of the company). Most shareholders would be happy to see this sort of insider ownership, since it suggests that management incentives are well aligned with other shareholders.

What Might The Insider Transactions At TNR Gold Tell Us?

It is good to see recent purchasing. We also take confidence from the longer term picture of insider transactions. But on the other hand, the company made a loss during the last year, which makes us a little cautious. Along with the high insider ownership, this analysis suggests that insiders are quite bullish about TNR Gold. Nice! In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing TNR Gold. Case in point: We've spotted 3 warning signs for TNR Gold you should be aware of, and 1 of them is a bit concerning.

But note: TNR Gold may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.

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

This article by Simply Wall St is general in nature. 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 (at) simplywallst.com.