Wallbridge Mining Company Limited

TORONTO, June 27, 2024 (GLOBE NEWSWIRE) — Wallbridge Mining Company Limited (TSX:WM, OTCQB:WLBMF) (“Wallbridge” or the “Company”) held its Annual Meeting of Shareholders (the “Meeting”) on June 26, 2024.

A total of 375,770,677 shares or 36.98% of the outstanding shares of the Company were represented at the Meeting. All of the matters submitted to the shareholders for approval as set out in the Company's notice of meeting and management information circular dated May 17, 2024 (“MIC”) were approved by the requisite majority of votes cast at the Meeting.

Voting on the following matters, as described in the MIC, were as follows:

To Set the Number of Directors at Seven (7)

Votes For

Votes Against

Number

Percent

Number

Percent

327,860,364

87.25%

47,910,313

12.75%

Election of Directors for the Ensuing Year

The following directors were elected until the next annual meeting of shareholders or until their successors are otherwise duly elected or appointed: Brian Penny, Janet Wilkinson, Michael Pesner, Anthony Makuch, Jeffery Snow, Danielle Giovenazzo and Brian Christie.

 

Votes For

Votes Withheld

 

Number

Percent

Number

Percent

Brian Penny

307,933,143

87.647%

43,398,663

12.353%

Janet Wilkinson

325,213,100

92.566%

26,118,706

7.434%

Michael Pesner

289,152,398

82.302%

62,179,408

17.698%

Anthony Makuch

343,276,508

97.707%

8,055,298

2.293%

Jeffery Snow

345,531,527

98.349%

5,800,279

1.651%

Danielle Giovenazzo

289,089,828

82.284%

62,241,978

17.716%

Brian Christie

344,870,421

98.161%

6,461,385

1.839%

Appointment of KPMG LLP as Auditor of the Corporation for the ensuing year and authorizing the Directors to fix their remuneration

Votes For

Votes Withheld

Number

Percent

Number

Percent

373,296,489

99.342%

2,474,188

0.658%

About Wallbridge Mining

Wallbridge is focused on creating value through the exploration and sustainable development of gold projects along the Detour-Fenelon Gold Trend in Québec’s Northern Abitibi region while respecting the environment and communities where it operates.

Wallbridge’s most advanced projects, Fenelon Gold (“Fenelon”) and Martiniere Gold (“Martiniere”) incorporate a combined 3.05 million ounces of indicated gold resources and 2.35 million ounces of inferred gold resources. Fenelon and Martiniere are located within an 830 square kilometre exploration land package controlled by Wallbridge.

Wallbridge has reported a positive Preliminary Economic Assessment (“PEA”) at Fenelon that estimates average annual gold production of 212,000 ounces over 12 years.

Wallbridge also holds a 15.79% interest in the common shares of NorthX Nickel Corp. (formerly “Archer Exploration”) as a result of the sale of the Company’s portfolio of nickel assets in Ontario and Québec. For further information please visit the Company’s website at https://wallbridgemining.com/ or contact:

Wallbridge Mining Company Limited

Brian Penny, CPA, CMAChief Executive OfficerEmail: bpenny@wallbridgemining.comM: +1 416 716 8346

Victoria Vargas, B.Sc. (Hon.) Economics, MBACapital Markets AdvisorEmail: vvargas@wallbridgemining.comM: +1 289 242 3599

Cautionary Note Regarding Forward-Looking InformationThe information in this document may contain forward-looking statements or information (collectively, “FLI”) within the meaning of applicable Canadian securities legislation. FLI is based on expectations, estimates, projections and interpretations as at the date of this document.

All statements, other than statements of historical fact, included herein are FLI that involve various risks, assumptions, estimates and uncertainties. Generally, FLI can be identified by the use of statements that include, but are not limited to, words such as “seeks”, “believes”, “anticipates”, “plans”, “continues”, “budget”, “scheduled”, “estimates”, “expects”, “forecasts”, “intends”, “projects”, “predicts”, “proposes”, "potential", “targets” and variations of such words and phrases, or by statements that certain actions, events or results “may”, “will”, “could”, “would”, “should” or “might”, “be taken”, “occur” or “be achieved.”

FLI in this document may include, but is not limited to: statements regarding the results of the PEA; the potential future performance of the Common Shares; future drill results; the Company’s ability to convert inferred resources into measured and indicated resources; environmental matters; stakeholder engagement and relationships; parameters and methods used to estimate the MRE’s at Fenelon and Martiniere (collectively the “Deposits”); the prospects, if any, of the Deposits; future drilling at the Deposits; and the significance of historic exploration activities and results.

FLI is designed to help you understand management’s current views of its near- and longer-term prospects, and it may not be appropriate for other purposes. FLI by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such FLI. Although the FLI contained in this document is based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders and prospective purchasers of securities of the Company that actual results will be consistent with such FLI, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such FLI. Except as required by law, the Company does not undertake, and assumes no obligation, to update or revise any such FLI contained in this document to reflect new events or circumstances. Unless otherwise noted, this document has been prepared based on information available as of the date of this document. Accordingly, you should not place undue reliance on the FLI, or information contained herein.

Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in FLI.

Assumptions upon which FLI is based, without limitation, include: the results of exploration activities, the Company’s financial position and general economic conditions; the ability of exploration activities to accurately predict mineralization; the accuracy of geological modelling; the ability of the Company to complete further exploration activities; the legitimacy of title and property interests in the Deposits; the accuracy of key assumptions, parameters or methods used to estimate the MREs and in the PEA; the ability of the Company to obtain required approvals; geological, mining and exploration technical problems; failure of equipment or processes to operate as anticipated; the evolution of the global economic climate; metal prices; foreign exchange rates; environmental expectations; community and non-governmental actions; and, the Company’s ability to secure required funding. Risks and uncertainties about Wallbridge's business are discussed in the disclosure materials filed with the securities regulatory authorities in Canada, which are available at www.sedarplus.ca.

Cautionary Notes to United States InvestorsWallbridge prepares its disclosure in accordance with NI 43-101 which differs from the requirements of the U.S. Securities and Exchange Commission (the "SEC"). Terms relating to mineral properties, mineralization and estimates of mineral reserves and mineral resources and economic studies used herein are defined in accordance with NI 43-101 under the guidelines set out in CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the Canadian Institute of Mining, Metallurgy and Petroleum Council on May 19, 2014, as amended. NI 43-101 differs significantly from the disclosure requirements of the SEC generally applicable to US companies. As such, the information presented herein concerning mineral properties, mineralization and estimates of mineral reserves and mineral resources may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the U.S. federal securities laws and the rules and regulations thereunder.

TORONTO, January 23, 2024–(BUSINESS WIRE)–Americas Gold and Silver Corporation (TSX: USA) (NYSE American: USAS) ("Americas" or the "Company"), a growing North American precious metals producer, is pleased to provide its Q4-2023 and full year 2023 production results as well as an update to Galena Complex exploration results.

1 Silver equivalent grade for drill intercepts were calculated using metal prices of $22.00/oz silver, $3.75/lb copper and $0.95/lb lead and equivalent metallurgical recoveries were assumed for all metals (silver, lead and copper).2 Meters represent "True Width" which is calculated for significant intercepts only and is based on orientation axis of core across the estimated dip of the vein.3 Silver equivalent ounces for production in Q4-2023, Q4-2022, 2023 and 2022 were calculated based on silver, zinc and lead realized prices during the period throughout this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240123718885/en/

Contacts

Stefan AxellVP, Corporate Development & CommunicationsAmericas Gold and Silver Corporation416-874-1708

Darren BlasuttiPresident and CEOAmericas Gold and Silver Corporation416‐848‐9503

WHITE ROCK, BC / ACCESSWIRE / January 23, 2024 / Honey Badger Silver Inc. (TSXV:TUF) ("Honey Badger" or the "Company"), a Canadian-based company with silver projects in Canada, including the Nanisivik Project in Nunavut, reports that as of January 18th, 2024, the Canadian government has passed revisions to its mining laws aimed at boosting exploration and development in Canada's northernmost region. The Canadian government has transferred control of mineral reserves in the Territory to the legislative assembly of Nunavut, which will now dictate economic terms for companies operating in the region. The move is expected to boost mineral exploration and development in the Territory.

The Company's CEO, Dorian L. (Dusty) Nicol, commented, "We view this development as extremely positive for our wholly owned Nanisivik Project (the "Project") and for mineral explorers and developers operating in Nunavut as a whole. Honey Badger continues to focus on growing the Project to an eventual resource of up to 100 million ounces of silver at a grade of 30-50 g/t. Our target is based on the large tonnages of pyrite bodies at Nanisivik containing anomalous concentrations of silver as well as, locally, germanium, gallium, and indium, which have not been evaluated in the context of current metals prices. In addition, with the construction of a deep-sea port adjacent to Nanisivik, the pyrite bodies themselves may have significant commercial value. Nanisivik could become one of the few turnkey projects in the region with strong leverage to increasing silver prices and could be a key component of development in one of Canada's most sparsely populated regions."

About NanisivikThe Nanisivik Mine (near Arctic Bay, Nunavut) produced over 20 million ounces of silver between 1976 and 2002, from 17.9 million tons of ore, grading 9% zinc, 0.72% lead, and 35 grams per ton silver (1). In addition to the polymetallic orebody, previous exploration identified massive sulphide bodies (principally pyrite), totaling about 100 million tons (1,2), containing base metal and silver values not economic at the time.

  • Geological Survey of Canada, 2002-C22, "Structural and Stratigraphic Controls on Zn-Pb-Ag Mineralization at the Nanisivik Mississippi Valley-type Deposit, Northern Baffin Island, Nunavut; by Patterson and Powis.

  • A qualified person has not done sufficient work to classify this historic tonnage estimate as a current mineral resource and the Company is not treating the estimate as a current mineral resource. The historic tonnage estimate cannot be relied upon. Additional work, including verification drilling / sampling, will be required to verify the estimate as a current mineral resource.

  • Amended Stock Option PlanThe Company has amended its 10% rolling stock option plan (the "Amended Option Plan") to comply with the requirements of the new TSX Venture Exchange (the "Exchange") policy governing security-based compensation which became effective on November 24, 2021. The most significant change introduced by the new policy, and is included in the Amended Option Plan, permits the exercise of stock options which are "in the money" by eligible participants, without the holder being required to have the requisite funds to exercise such stock options, through the addition of a cashless exercise and a net exercise component, and more closely aligns with plans permitted by the Exchange.

    The shareholders ratified the Amended Option Plan at the Company's annual meeting of shareholders held on December 15, 2022 (the "Meeting"). Additional details regarding the amendments are contained in the management information circular filed on SEDAR+ (www.sedarplus.ca) on November 15, 2022, in respect of the Meeting.

    The Amended Option Plan remains subject to final acceptance of the Exchange.

    Qualified PersonTechnical information in this news release has been approved by Dorian L. (Dusty) Nicol, the Company's CEO (PG, FAusIMM), who is a Qualified Person ("QP") for the purpose of National Instrument 43-101.

    About Honey Badger Silver Inc.Honey Badger Silver is a silver company based in White Rock, British Columbia focused on the accretive acquisition and development of silver ounces. The company is led by a highly experienced leadership team with a track record of value creation backed by a skilled technical team. Our projects are located in areas with a long history of mining, including the Plata high grade silver project located 165 km east of Yukon's prolific Keno Hill and our Sunrise Lake exploration property located in the Northwest Territories, 130 kilometers northeast of Yellowknife. The Company also has a significant land holding at the Nanisivik Mine Area located in Nunavut, Canada that produced over 20 Moz of silver between 1976 and 2002.(1,2) Honey Badger Silver is positioned to be a top tier silver company with our unique approach of acquiring silver resources and prospective ground at low cost and adding value by targeted exploration on the steepest parts of the value-addition curve. Our objective is to demonstrate the value / prospectiveness of our silver projects in order to attract joint venture partners who will spend their money to advance our projects while we retain a royalty on the silver.

  • Geological and Powis.

  • ON BEHALF OF THE BOARD

    Dorian L. (Dusty) Nicol, CEOFor more information please visit our website www.honeybadgersilver.com or contact Ms. Michelle Savella for Investor Relations | msavella@honeybadgersilver.com | +1 (604) 828-5886

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

    Cautionary Note Regarding Forward-Looking InformationThis news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Honey Badger to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

    Such factors include, but are not limited to, risks relating to capital and operating costs varying significantly from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; other risks involved in the mineral exploration and development industry; and those risks set out in the Company's public documents filed on SEDAR+ (www.sedarplus.ca) under Honey Badger's issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed timeframes or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

    SOURCE: Honey Badger Silver Inc.

    View the original press release on accesswire.com

    Aurcana Silver Corporation

    NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

    VANCOUVER, British Columbia, April 11, 2022 (GLOBE NEWSWIRE) — AURCANA SILVER CORPORATION ("Aurcana" or the "Company") (TSXV: AUN) provides the following update:

    As outlined in the press release dated March 21, 2022, Aurcana continues to evaluate all available alternatives with respect to the Company and satisfying the conditions precedents contained in the restructuring agreements entered into with subsidiaries of Mercuria Energy Group in respect of the Company’s outstanding $28 million term loan and associated hedging package. Aurcana is actively pursuing multiple financial and strategic alternatives that are in the best interests of the Company and its stakeholders and has engaged a financial advisor to assist in identifying and analyzing opportunities. The Company remains optimistic as to its prospects, although there can be no assurances that any transaction(s) will occur.

    In addition to its focus on the required financing, the Company continues to work to optimize the mine development and restart plan for the Revenue-Virginius Mine to reduce time and capital requirements. The #1 hoist installation remains the critical path followed by finishing the development to have four working faces available and then to resume mining activities on the 1800 level.

    ABOUT AURCANA SILVER CORPORATION

    Aurcana Silver Corporation owns the Revenue-Virginius Mine, in Colorado, and the Shafter-Presidio Silver Project in Texas, US. The primary resource at Shafter and Revenue-Virginius is silver. Both are fully permitted for production.

    ON BEHALF OF THE BOARD OF DIRECTORS OF AURCANA SILVER CORPORATION

    “Kevin Drover”President & CEO

    For further information, visit the website at www.aurcana.com or contact:

    Aurcana Silver Corporation850 – 789 West Pender StreetVancouver, BC V6C 1H2Phone: (604) 331-9333

    CAUTIONARY NOTES

    This press release contains forward looking statements within the meaning of applicable securities laws. The use of any of the words “anticipate”, “plan”, “continue”, “expect”, “estimate”, “objective”, “may”, “will”, “project”, “should”, “predict”, “potential” and similar expressions are intended to identify forward looking statements. In particular, this press release contains forward looking statements concerning, without limitation, statements relating to the Company’s evaluation of financial and strategic alternatives and the proposed restructuring arrangements with Mercuria (including, without limitation, in respect of the satisfaction of the Conditions precedent to effectiveness of all such restructuring arrangements), , as well as the impact of the aforementioned matters on the production and operations of the Company at the RV Mine and the impact on the financial condition of the Company as a whole (and including statements with respect to the timing of all such matters). Although the Company believes that the expectations and assumptions on which the forward looking statements are based are reasonable, undue reliance should not be placed on the forward looking statements because the Company cannot give any assurance that they will prove correct. Since forward looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with the receipt of regulatory or shareholder approvals, and risks related to the state of financial markets or future metals prices.

    Management has provided the above summary of risks and assumptions related to forward looking statements in this press release in order to provide readers with a more comprehensive perspective on the Company’s future operations. The Company’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward looking statements, whether as a result of new information, future events or results or otherwise.

    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 DISSEMINATION IN THE UNITED STATES

    VANCOUVER, British Columbia, Dec. 23, 2021 (GLOBE NEWSWIRE) — AURCANA SILVER CORPORATION ("Aurcana" or the "Company") (TSXV: AUN) is pleased to announce that it has shipped its first concentrate production from its wholly owned Revenue-Virginius Mine, located in Ouray, Colorado, USA.

    The Company continues to mine high-grade ore during this time of reduced underground capacity. The processing system’s capability has been demonstrated through the mill operating at design capacity and the ability to produce shippable concentrate. However, the lack of consistent ore feed from the mine has been a bottleneck to optimizing processing performance.

    Going forward, the near term operating plan is to continue to mine the two available stopes on the 1800 level and create a stockpile that will help ensure a longer period of sustained processing run-time. It is expected enough ore will be stockpiled to enable the processing plant to restart again during the first week of January.

    Although the delays in specific underground development projects has meant the mine has been slower to get to full production than originally planned, a number of very important milestones have been achieved for the Revenue-Virginius Mine restart. First, the grade on the 1800 level based on assay results from samples taken from development advance shows the grade is as expected or better when compared against the geological model. The Company expects to be incorporating these assay results into future resource work. Second, the mine has proved the resue mining method works well for this ore-body in both dilution and geotechnical control features. And third, the processing facility has demonstrated that it can perform when given suitable ore feed to run at design rates and make sellable concentrates.

    The Company continues to evaluate its development plan and timeline and will update shareholders in the new year. The #1 Raise Hoist remains the main bottleneck to achieving target mining productivities and its completion is a key to the success of the overall operation. Work on the #1 Raise Hoist continues and is the number one priority in the mine. Completion is now scheduled for May of 2022.

    Aurcana also announces the resignation of Brian Briggs from the position of Chief Operating Officer of Aurcana Silver Corp and from the position of Chief Executive Officer of Ouray Silver Mining Inc (“OSMI”). The responsibilities and duties of these positions will be shared among existing managers and officers of the Company and OSMI.

    Qualified Person Statement

    The scientific and technical content of this news release was reviewed and approved by Michael Gross, P. Geo, a “qualified person” within the meaning of NI 43-101

    ABOUT AURCANA SILVER CORPORATION

    Aurcana Corporation owns the Revenue-Virginius Mine, in Colorado, and the Shafter-Presidio Silver Project in Texas, US. The primary resource at Shafter and Revenue-Virginius is silver. Both are fully permitted for production.

    ON BEHALF OF THE BOARD OF DIRECTORS OF AURCANA SILVER CORPORATION

    “Kevin Drover”President & CEO

    For further information, visit the website at www.aurcana.com or contact:

    Aurcana Silver Corporation850 – 789 West Pender StreetVancouver, BC V6C 1H2Phone: (604) 331-9333

    Gary Lindsey, Corporate CommunicationsPhone: (720)-273-6224 Email: gary@strata-star.com

    CAUTIONARY NOTES

    This press release contains forward looking statements within the meaning of applicable securities laws. The use of any of the words “anticipate”, “plan”, “continue”, “expect”, “estimate”, “objective”, “may”, “will”, “project”, “should”, “predict”, “potential” and similar expressions are intended to identify forward looking statements. In particular, this press release contains forward looking statements concerning, without limitation, statements relating to the operational adjustments resulting from the reported rock movement and the impact of such adjustments on the production and operations of the Company at the Revenue Virginius mine (including with respect to the timing of closing of all such matters). Although the Company believes that the expectations and assumptions on which the forward looking statements are based are reasonable, undue reliance should not be placed on the forward looking statements because the Company cannot give any assurance that they will prove correct. Since forward looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with the receipt of regulatory or shareholder approvals, and risks related to the state of financial markets or future metals prices.

    Management has provided the above summary of risks and assumptions related to forward looking statements in this press release in order to provide readers with a more comprehensive perspective on the Company’s future operations. The Company’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward looking statements, whether as a result of new information, future events or results or otherwise.

    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.

    Mosaic (MOS) closed at $42.17 in the latest trading session, marking a -0.71% move from the prior day. This change lagged the S&P 500's daily gain of 0.3%.

    Prior to today's trading, shares of the fertilizer maker had gained 28% over the past month. This has outpaced the Basic Materials sector's gain of 7.79% and the S&P 500's gain of 4.28% in that time.

    MOS will be looking to display strength as it nears its next earnings release, which is expected to be November 1, 2021. The company is expected to report EPS of $1.63, up 608.7% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.83 billion, up 60.82% from the year-ago period.

    For the full year, our Zacks Consensus Estimates are projecting earnings of $5.02 per share and revenue of $12.48 billion, which would represent changes of +490.59% and +43.77%, respectively, from the prior year.

    Investors should also note any recent changes to analyst estimates for MOS. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

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

    Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 3.14% higher within the past month. MOS is currently a Zacks Rank #2 (Buy).

    In terms of valuation, MOS is currently trading at a Forward P/E ratio of 8.47. This represents a discount compared to its industry's average Forward P/E of 14.81.

    It is also worth noting that MOS currently has a PEG ratio of 1.21. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Fertilizers stocks are, on average, holding a PEG ratio of 1.53 based on yesterday's closing prices.

    The Fertilizers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 3, putting it in the top 2% of all 250+ industries.

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

    Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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    The Mosaic Company (MOS) : Free Stock Analysis Report
     
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    Zacks Investment Research

    VANCOUVER, British Columbia, Oct. 19, 2021 (GLOBE NEWSWIRE) — Canasil Resources Inc. (TSX-V: CLZ, DB Frankfurt: 3CC, “Canasil” or the “Company”) announces a non-brokered private placement (the “Placement”) of up to 4,000,000 units (the Units”) at a price of $0.125 per Unit for total gross proceeds of up to $500,000 to fund drill programs on the Company’s silver-gold projects in Durango and Zacatecas States, Mexico. A finder’s fee may be paid with respect to all or part of this Placement. The terms of the Placement are subject to acceptance by the TSX Venture Exchange.

    Each Unit will consist of one common share of the Company and one half of one non-transferable share purchase warrant. Each whole warrant (a “Warrant”) will be exercisable to purchase one additional common share of the Company at a price of $0.20 during the first year, increasing to $0.25 in year two following the closing of the offering.

    The proceeds of the Placement will be used to fund continued drill programs on the Company’s silver-gold exploration projects in Durango and Zacatecas States, Mexico, and for working capital.

    About Canasil:

    Canasil is a Canadian mineral exploration company with a strong portfolio of 100% owned silver-gold-copper-lead-zinc exploration projects in Durango and Zacatecas States, Mexico, and in British Columbia, Canada. The Company’s directors and management include industry professionals with a track record of identifying and advancing successful mineral exploration projects through to discovery and further development. The Company is actively engaged in the exploration of its mineral properties, and maintains an operating subsidiary in Durango, Mexico, with full time geological and support staff for its operations in Mexico.

    For further information please contact:

    Bahman Yamini
    President and C.E.O.
    Canasil Resources Inc.
    Tel: (604) 709-0109
    www.canasil.com

    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.

    This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

    The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says 'The biggest investment risk is not the volatility of prices, but whether you will suffer a permanent loss of capital.' It's only natural to consider a company's balance sheet when you examine how risky it is, since debt is often involved when a business collapses. We note that Gem Diamonds Limited (LON:GEMD) does have debt on its balance sheet. But the real question is whether this debt is making the company risky.

    When Is Debt A Problem?

    Debt and other liabilities become risky for a business when it cannot easily fulfill those obligations, either with free cash flow or by raising capital at an attractive price. Part and parcel of capitalism is the process of 'creative destruction' where failed businesses are mercilessly liquidated by their bankers. However, a more frequent (but still costly) occurrence is where a company must issue shares at bargain-basement prices, permanently diluting shareholders, just to shore up its balance sheet. Of course, plenty of companies use debt to fund growth, without any negative consequences. The first step when considering a company's debt levels is to consider its cash and debt together.

    View our latest analysis for Gem Diamonds

    How Much Debt Does Gem Diamonds Carry?

    The image below, which you can click on for greater detail, shows that Gem Diamonds had debt of US$14.7m at the end of June 2021, a reduction from US$23.6m over a year. But it also has US$33.9m in cash to offset that, meaning it has US$19.2m net cash.

    debt-equity-history-analysisdebt-equity-history-analysis
    debt-equity-history-analysis

    A Look At Gem Diamonds' Liabilities

    We can see from the most recent balance sheet that Gem Diamonds had liabilities of US$43.1m falling due within a year, and liabilities of US$112.0m due beyond that. Offsetting these obligations, it had cash of US$33.9m as well as receivables valued at US$6.55m due within 12 months. So its liabilities total US$114.6m more than the combination of its cash and short-term receivables.

    This is a mountain of leverage relative to its market capitalization of US$116.4m. Should its lenders demand that it shore up the balance sheet, shareholders would likely face severe dilution. Despite its noteworthy liabilities, Gem Diamonds boasts net cash, so it's fair to say it does not have a heavy debt load!

    Even more impressive was the fact that Gem Diamonds grew its EBIT by 406% over twelve months. If maintained that growth will make the debt even more manageable in the years ahead. There's no doubt that we learn most about debt from the balance sheet. But it is future earnings, more than anything, that will determine Gem Diamonds's ability to maintain a healthy balance sheet going forward. So if you're focused on the future you can check out this free report showing analyst profit forecasts.

    Finally, while the tax-man may adore accounting profits, lenders only accept cold hard cash. Gem Diamonds may have net cash on the balance sheet, but it is still interesting to look at how well the business converts its earnings before interest and tax (EBIT) to free cash flow, because that will influence both its need for, and its capacity to manage debt. In the last three years, Gem Diamonds created free cash flow amounting to 4.2% of its EBIT, an uninspiring performance. That limp level of cash conversion undermines its ability to manage and pay down debt.

    Summing up

    Although Gem Diamonds's balance sheet isn't particularly strong, due to the total liabilities, it is clearly positive to see that it has net cash of US$19.2m. And it impressed us with its EBIT growth of 406% over the last year. So we don't have any problem with Gem Diamonds's use of debt. There's no doubt that we learn most about debt from the balance sheet. However, not all investment risk resides within the balance sheet – far from it. Be aware that Gem Diamonds is showing 2 warning signs in our investment analysis , and 1 of those shouldn't be ignored…

    When all is said and done, sometimes its easier to focus on companies that don't even need debt. Readers can access a list of growth stocks with zero net debt 100% free, right now.

    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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

    It is usually uneventful when a single insider buys stock. However, When quite a few insiders buy shares, as it happened in Dundee Precious Metals Inc.'s (TSE:DPM) case, it's fantastic news for shareholders.

    While insider transactions are not the most important thing when it comes to long-term investing, logic dictates you should pay some attention to whether insiders are buying or selling shares.

    See our latest analysis for Dundee Precious Metals

    Dundee Precious Metals Insider Transactions Over The Last Year

    In the last twelve months, the biggest single sale by an insider was when the President, David Rae, sold CA$304k worth of shares at a price of CA$7.60 per share. That means that even when the share price was below the current price of CA$7.90, an insider wanted to cash in some shares. When an insider sells below the current price, it suggests that they considered that lower price to be fair. That makes us wonder what they think of the (higher) recent valuation. However, while insider selling is sometimes discouraging, it's only a weak signal. This single sale was 100% of David Rae's stake. David Rae was the only individual insider to sell over the last year. Notably David Rae was also the biggest buyer, having purchased CA$337k worth of shares.

    Over the last year, we can see that insiders have bought 85.27k shares worth CA$337k. But insiders sold 40.00k shares worth CA$304k. Overall, Dundee Precious Metals insiders were net buyers during the last year. The average buy price was around CA$3.95. It is certainly positive to see that insiders have invested their own money in the company. However, we do note that they were buying at significantly lower prices than today's share price. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. By clicking on the graph below, you can see the precise details of each insider transaction!

    insider-trading-volumeinsider-trading-volume
    insider-trading-volume

    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.

    Insider Ownership

    Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. 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 Dundee Precious Metals insiders own about CA$11m worth of shares (which is 0.7% of the company). Whilst better than nothing, we're not overly impressed by these holdings.

    So What Do The Dundee Precious Metals Insider Transactions Indicate?

    The fact that there have been no Dundee Precious Metals insider transactions recently certainly doesn't bother us. On a brighter note, the transactions over the last year are encouraging. Overall we don't see anything to make us think Dundee Precious Metals insiders are doubting the company, and they do own shares. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. While conducting our analysis, we found that Dundee Precious Metals has 2 warning signs and it would be unwise to ignore them.

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

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

    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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

    Vancouver, British Columbia–(Newsfile Corp. – October 6, 2021) – Quaterra Resources Inc. (TSXV: QTA) (OTCQB: QTRRF) (the "Company") today announced positive results from a ten-hole core drilling program totaling 5,147 feet (1,569 meters) that was recently completed. The ten-hole program was designed to assess the likelihood that further drilling would upgrade portions of the resource from Inferred to Indicated and expand the overall size of the current resource. Mr. Travis Naugle, CEO states, "We believe that additional drilling could accomplish these exciting objectives." These results are further discussed below and outlined in Table 1 below.

    Three holes (QM-319, QM-320, and QM-328) were drilled on the north to northwestern edge of the current resource. Each hole intersected oxide and chalcocite mineralization. Significant intercepts include drill hole QM-320 (31.1 m @ 0.58% Cu, including 22.6 m @ 0.70% Cu); QM-328 (23.5 m @ 0.44% Cu); and QM-319 (10.8 m @ 0.14% Cu). Each drill hole contains additional acid soluble copper intercept (Table 1).

    Holes QM-326 and QM-327, drilled on the southern edge of the current oxide resource (Figure 1), each intersected near surface oxide mineralization. Significant intercepts include 6.7 m @ 0.27% Cu and 7.3 m @ 0.70% copper from QM-326 and QM-327, respectively. Both holes also indicate the potential for additional oxide resource expansion to the south and southeast (Figure 2).

    Drill holes QM-321 and QM-322 were drilled on the south/southeastern edge of the current oxide resource. Both drill holes intersected near surface oxide mineralization; QM-321 intersected 13.7 m @ 0.17% copper and QM-322 intersected 31.1 m @ 0.11% Cu. Both drill holes also indicate the potential for an additional oxide resource to the south. In addition, QM-322 was collared on a legacy MacArthur sub-grade stockpile, from which 12.3 m @ 0.13% copper was identified. The MacArthur sub-grade stockpile has not previously been sampled but based on these results, the Company may consider evaluating it for additional resource potential.

    It is expected that the above results could increase the resource (Figure 2) and upgrade a portion of the current resource from inferred to measured/indicated status. The MacArthur resource estimate is in the process of being updated by Independent Mining Consultants (IMC); it is expected to be completed before the end of 2021.

    Two additional drill holes (QM-323 and QM-324) were drilled to explore for additional oxide resource farther east and infill from previous oxide intercepts in this area. Each drill hole identified short, scattered oxide intercepts, and identified additional chalcocite and chalcopyrite mineralization. QM-323 includes 24.4 m @ 0.20% copper in the form of chalcopyrite and QM-324 includes 9.8 m @ 0.39% copper in the form of chalcocite and chalcopyrite. Please see Table 1 for additional intercepts. The potential for additional drilling in this area is under further evaluation.

    Drill holes QM-319 and QM-320 were drilled to depths of 243.8 m and 362.3 m, respectively, to test under-drilled induced polarization geophysical anomalies. Both drill holes intersected zones of primary mineralization, occurring as wispy quartz-sericite-biotite-sulfide veinlets/vein haloes, which are commonly associated with porphyry-style mineralization in the Yerington District. These two drill holes provide important guidance for primary sulfide drilling in future programs.

    TABLE 1. SIGNIFICANT INTERCEPTS

    Drill Hole

    From
    (feet)

    To
    (feet)

    Interval
    (feet)

    Interval
    (meters)

    %
    TCu

    Mineralization
    Type

    HOLE QM-319

    136

    171.5

    35.5

    10.8

    0.14

    oxide

    221

    269

    48

    14.6

    0.13

    chalcocite

    HOLE QM-320

    62

    115

    53

    16.2

    0.17

    oxide

    203.5

    241

    37.5

    11.4

    0.29

    oxide & chalcocite

    272

    378.5

    106.5

    32.5

    0.58

    oxide & chalcocite

    includes

    301

    375

    74

    22.6

    0.70

    oxide & chalcocite

    955

    1027

    72

    21.9

    0.11

    chalcopyrite

    HOLE QM-321

    50

    95

    45

    13.7

    0.17

    oxide

    135.5

    166.5

    31

    9.4

    0.19

    oxide

    HOLE QM-322

    11.5

    40.5

    29

    8.8

    0.13

    MacArthur dump oxide

    338

    450

    112

    34.1

    0.11

    oxide

    HOLE QM-323

    255

    272.6

    17.6

    5.4

    0.32

    chalcopyrite

    332.5

    343.5

    11

    3.4

    0.24

    chalcopyrite

    353.5

    376

    22.5

    6.9

    0.11

    chalcopyrite

    399

    479

    80

    24.4

    0.20

    chalcopyrite

    HOLE QM-324

    218

    250

    32

    9.8

    0.39

    chalcocite & chalcopyrite

    264.5

    275

    10.5

    3.2

    0.20

    chalcocite

    HOLE QM-326

    17

    39

    22

    6.7

    0.27

    oxide

    159

    190.5

    31.5

    9.6

    0.11

    oxide

    312

    327.5

    15.5

    4.7

    0.19

    chalcopyrite

    364

    375

    11

    3.4

    0.19

    chalcopyrite

    HOLE QM-327

    18.5

    42.5

    24

    7.3

    0.70

    oxide

    96

    128.5

    32.5

    9.9

    0.13

    oxide

    234.5

    260

    25.5

    7.8

    0.22

    oxide

    HOLE QM-328

    194

    271

    77

    23.5

    0.44

    chalcocite

    *Drill intercepts are based on actual core lengths and may not reflect the true width of mineralization

    Figure 1, Plan Map

    To view an enhanced version of Figure 1, please visit:
    https://orders.newsfilecorp.com/files/1020/98721_Figure%201%20Plan%20Map.jpg

    Figure 2, Section 1

    To view an enhanced version of Figure 2, please visit:
    https://orders.newsfilecorp.com/files/1020/98721_Figure%202%20Section1.jpg

    Quality Assurance and Control

    All drilling described is from core, contracted to National EWP, Elko, Nevada. Core samples were either sawed or split by SPS personnel in Yerington, Nevada and shipped to Skyline Assayers and Laboratories in Tucson, Arizona for sample preparation. Copper analyses were assayed using their "SEA-Cu" (total copper) "SEACuSEQ" (sequential copper leach) procedure with a 50 ppm detection limit. Commercially prepared standards and blanks are inserted by SPS at 50-foot intervals to insure precision of results as a quality control measure. SPS has a chain of custody program to ensure sample security during all stages of sample collection, cutting, shipping, and storage.

    Technical information in this news release was approved by Thomas Patton, Chairman to the Company and a qualified person as defined in NI 43-101.

    About Quaterra Resources Inc.

    Quaterra Resources Inc. is a copper-gold exploration company focused on projects with the potential to host large-scale mineral deposits attractive to major mining companies. It is advancing its Yerington copper project in the historic Yerington Copper District, Nevada and continues to investigate opportunities to acquire prospects in North America on reasonable terms and the partnerships with which to advance them.

    On behalf of the Board of Directors,

    Stephen Goodman,
    President, Quaterra Resources Inc.

    For more information please contact:

    Karen Robertson
    Corporate Communications
    778-898-0057

    Email: info@quaterra.com
    Website: www.quaterra.com

    Disclosure note:

    Some statements in this news release are forward-looking statements under applicable United States and Canadian laws. These statements are subject to risks and uncertainties which may cause results to differ materially from those expressed in the forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date thereof. The Company does not undertake to update any forward-looking statement that may be made from time to time except in accordance with applicable securities laws.

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

    To view the source version of this press release, please visit https://www.newsfilecorp.com/release/98721

    Shares Outstanding: 277,847,367
    Trading Symbols: TSX: GGD
    OTCQX: GLGDF

    HALIFAX, NS, Oct. 6, 2021 /PRNewswire/ – GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) ("GoGold", "the Company") is pleased to report production for the year ending September 30, 2021 of 2,270,073 silver equivalent ounces ("AgEq"), consisting of 1,138,358 silver ounces, 13,447 gold ounces, and 470 tonnes of copper. Quarterly production at Parral was 526,044 silver equivalent ounces, consisting of 221,202 silver ounces, 3,437 gold ounces, and a record 138 tonnes of copper.

    "Parral in 2021 proved to be a very stable operation, producing 2.3 million silver equivalent ounces similar to the prior year, and generated in excess of $US 22 million in free cash flow over the year," said Brad Langille, President and CEO. "We believe that the reinvestment of this free cash flow into the Los Ricos project is generating exceptional value growth for our shareholders."

    Table 1: Quarterly Production Summary

    Quarter Ended

    Jun 2020

    Sep 2020

    Dec 2020

    Mar 2021

    Jun 2021

    Sep 2021

    Silver Production (oz)

    270,044

    300,740

    298,591

    302,933

    315,632

    221,202

    Gold Production (oz)

    1,914

    3,414

    3,632

    3,208

    3,170

    3,437

    Copper Production (tonnes)

    104

    128

    125

    86

    120

    138

    Silver Equivalent Production (oz)1

    504,444

    605,287

    614,149

    551,207

    575,302

    526,044

    1.

    "Silver equivalent production" include gold ounces and copper tons produced and converted to a silver equivalent based on a ratio of the average market metal price for each period. The gold:silver ratio for each of the periods presented was: Jun 2020 – 105, Sep 2020 – 79, Dec 2020 – 76, Mar 2021 – 69, Jun 2021 – 68, Sep 2021 – 73. The copper:silver ratios were: Mar 2020 – 340, June 2020 – 326, Sep 2020 – 274, Dec 2020 – 305, Mar 2021 – 320, June 2021 – 369, Sep 2021 – 383.

    Table 2: Annual Production Summary

    Quarter Ended

    Sep 2019

    Sep 2020

    Sep 2021

    Silver Production (oz)

    1,059,438

    1,315,661

    1,138,358

    Gold Production (oz)

    9,149

    10,089

    13,447

    Copper Production (tonnes)

    260

    470

    Silver Equivalent Production (oz)1

    1,847,835

    2,295,416

    2,270,073

    1.

    "Silver equivalent production" include gold ounces and copper tons produced and converted to a silver equivalent based on a ratio of the average market metal price for each period. The gold:silver ratio for each of the periods presented was: Sep 2019 – 86, Sep 2020 – 89, Sep 2021 – 72. The copper:silver ratio for the periods presented was: Sep 2020 – 302, Sep 2021 – 348.

    Mr. Robert Harris, P.Eng. is the qualified person as defined by National Instrument 43-101 and is responsible for the technical information of this release.

    About GoGold Resources
    GoGold Resources (TSX: GGD) is a Canadian-based silver and gold producer focused on operating, developing, exploring and acquiring high quality projects in Mexico. The Company operates the Parral Tailings mine in the state of Chihuahua and has the Los Ricos South and Los Ricos North exploration projects in the state of Jalisco. Headquartered in Halifax, NS, GoGold is building a portfolio of low cost, high margin projects. For more information visit gogoldresources.com.

    CAUTIONARY STATEMENT:
    The securities described herein 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, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to exemptions therefrom. This release does not constitute an offer to sell or a solicitation of an offer to buy of any of GoGold's securities in the United States.

    This news release may contain "forward-looking information" as defined in applicable Canadian securities legislation. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding production and cash flows of the Parral tailings mine, the ability of GoGold to self fund its ongoing exploration and administrative costs, future operating margins, future production and processing, and future plans and objectives of GoGold, constitute forward looking information that involve various risks and uncertainties. Forward-looking information is based on a number of factors and assumptions which have been used to develop such information but which may prove to be incorrect, including, but not limited to, assumptions in connection with the continuance of GoGold and its subsidiaries as a going concern, general economic and market conditions, mineral prices, the accuracy of mineral resource estimates, and the performance of the Parral project. There can be no assurance that such information will prove to be accurate and actual results and future events could differ materially from those anticipated in such forward-looking information.

    Important factors that could cause actual results to differ materially from GoGold's expectations include exploration and development risks associated with GoGold's projects, the failure to establish estimated mineral resources or mineral reserves, volatility of commodity prices, variations of recovery rates, and global economic conditions. For additional information with respect to risk factors applicable to GoGold, reference should be made to GoGold's continuous disclosure materials filed from time to time with securities regulators, including, but not limited to, GoGold's Annual Information Form. The forward-looking information contained in this release is made as of the date of this release.

    CisionCision
    Cision

    View original content:https://www.prnewswire.com/news-releases/parral-reports-annual-production-of-2-3m-ageq-oz-and-quarterly-production-of-526k-ageq-oz-301393880.html

    SOURCE GoGold Resources Inc.

    TORONTO, October 06, 2021–(BUSINESS WIRE)–Aquila Resources Inc. (TSX: AQA, OTCQB: AQARF) ("Aquila" or the "Company") is pleased to announce that it has entered into a definitive arrangement agreement (the "Arrangement Agreement") with Gold Resource Corporation ("GORO") (NYSE American: GORO) providing for the acquisition by GORO of all the issued and outstanding common shares of Aquila by way of a plan of arrangement under the Business Corporations Act (Ontario) (the "Transaction").

    As announced by Aquila on September 7, 2021, pursuant to the Transaction GORO will, through a wholly-owned subsidiary, acquire all the issued and outstanding Aquila shares for 0.0399 of a GORO share per Aquila share (the "Exchange Ratio"). Based upon the 20-day volume-weighted average price ("VWAP") of GORO’s shares on the NYSE American stock exchange on September 3, 2021, being the last trading day prior to the date of the announcement of the Transaction, the Exchange Ratio represents a 29% premium to the 20-day VWAP of Aquila’s shares on the Toronto Stock Exchange as of such date.

    Upon closing of the Transaction, the existing GORO and Aquila shareholders will own approximately 85.1% and 14.9%, respectively, of the combined company on a fully diluted basis.

    Barry Hildred, Executive Chair of Aquila, commented, "We believe strongly that the Transaction outlined in the Arrangement Agreement provides significant benefits to Aquila shareholders. GORO has a strong balance sheet, it owns a consistently profitable mine in the Americas, and it has a highly accomplished technical and operating team. As such, this Transaction materially de-risks the financing and development of the Back Forty Project for the benefit of our stakeholders."

    Guy Le Bel, President & CEO of Aquila, added, "The new Gold Resource Corporation will be a multi-jurisdictional, diversified precious and base metal producer with an attractive growth profile underpinned by the Back Forty Project. We look forward to closing the Transaction in short order."

    Strategic Rationale for the Transaction

    As previously announced on September 7, 2021, the benefits of the Transaction to GORO and Aquila shareholders include the following:

    • Enhanced Market Presence and Re-Rating Potential. GORO currently benefits from inclusion in the VanEck Junior Gold Miners ETF (the "GDXJ") and from an average daily trading volume of approximately 1 million shares, trailing three months. The Transaction is intended to result in the Back Forty Project being placed into production on a more accelerated basis, funded by cash flow generation, thus elevating the combined company to intermediate producer status. Following the completion of the Transaction, GORO is expected to continue to be included in the GDXJ and to benefit from an enhanced capital markets profile in the United States and Canada, as well as increased trading liquidity and broadened appeal to global index, resource, and generalist investors. This offers the potential for a re-rating to a multiple more in line with other intermediate gold producers.

    • Enhanced Project and Jurisdictional Diversification. Each of GORO and Aquila is currently a single-asset, single-jurisdiction company. Through the Transaction, GORO and Aquila shareholders will have the opportunity to participate in the ongoing growth of a multi-jurisdictional, diversified precious and base metal producer with exposure to gold, silver, zinc, copper and lead through GORO’s producing Don David Gold Mine in Oaxaca, Mexico and Aquila’s Back Forty Project in Menominee County, Michigan.

    • Growth Profile and Financial Strength of Combined Company. The combined company is expected to benefit from a peer leading growth profile, a robust balance sheet with no debt and cash of US$30.2 million at June 30, 2021, free cash flow generation from its Don David Gold Mine and the synergies that generally accrue from scale in the areas of general and administrative expenses, from less duplication of salaries, wages and other public company expenses, improved concentrate sales and marketing and supply chain efficiencies.

    • Materially De-Risks the Financing and Development of the Back Forty Project for Aquila Shareholders. Benefitting from the free cash flow generated by the Don David Gold Mine, Aquila shareholders will not be diluted by a near-term equity financing that would otherwise be required to advance the Back Forty Project through the final stages of permitting and engineering. GORO is supportive of Aquila’s project development plans including continuing working towards an optimized Feasibility Study. The combined Company’s position of financial strength is also expected to result in an improved ability to access required additional financing to fund the Back Forty Project’s construction capital expenditures.

    • All-Stock Transaction Enables Aquila Shareholders to Maintain Upside Exposure. Through their ownership in the combined company, Aquila shareholders will maintain exposure to the value that is expected to be unlocked as the Back Forty Project is advanced towards construction and production. Despite being a proven gold producer, GORO currently trades at only approximately 2.5 times free cash flow from operations. Aquila shareholders will participate in the anticipated re-rating of GORO from a one mine company in Mexico to a two-mine company with jurisdictional diversification.

    • Experienced Management Team. The combined company will benefit from GORO’s and Aquila’s technical and operational teams’ expertise in polymetallic open pit and underground mines. The GORO executive team has a demonstrated record of success in developing and operating mining projects in the Americas.

    • Demonstrated Consistent Dividend History. Post-Transaction, GORO intends to continue to pay dividends in accordance with its past practice. GORO has made consistent dividend payments to its investors for more than ten years.

    Transaction Summary

    The Transaction will require the approval of (i) 66⅔ percent of the votes cast by Aquila shareholders and (ii) a simple majority of the votes cast by the minority shareholders (excluding shareholders whose votes are required to be excluded pursuant to Multilateral Instrument 61 – 101) at a special meeting of shareholders (the "Aquila Shareholder Meeting"). The Aquila Shareholder Meeting is scheduled to be held on November 17, 2021. The Transaction is also subject to approval by the Ontario Superior Court of Justice (Commercial List) and applicable stock exchange approvals. The Transaction does not require the approval of GORO’s shareholders.

    In addition to shareholder, court and regulatory approvals, the Transaction is also subject to the satisfaction of certain other closing conditions that are customary for a transaction of this nature, and each of GORO and Aquila has provided appropriate interim period covenants regarding the operation of its business in the ordinary course. The Arrangement Agreement includes customary deal protection provisions pursuant to which Aquila has agreed not to solicit any other acquisition proposal (subject to customary fiduciary out rights), has agreed to grant GORO the right to match any superior proposal, and will pay a termination fee of US$1,000,000 to GORO if the Arrangement Agreement is terminated in certain circumstances.

    Details of the Transaction and the Arrangement Agreement will be set out in the management information circular to be prepared and mailed to Aquila shareholders in connection with the Aquila Shareholder Meeting.

    Subject to all conditions precedent to completion of the Transaction being met, the Transaction is expected to close in late November 2021. In connection with the closing of the Transaction, Aquila will apply to have its shares delisted from the Toronto Stock Exchange.

    Support for the Transaction from Key Aquila Stakeholders

    Each of Orion Mine Finance and Hudbay Minerals Inc., which hold 28.3% and 10.4%, respectively, of the issued and outstanding Aquila shares, has entered into a voting support agreement with GORO pursuant to which they have agreed to vote their Aquila shares in favour of the Transaction. In addition, all of the directors and officers of Aquila holding approximately 1.9% of the issued and outstanding Aquila shares in aggregate have also executed a voting support agreement.

    Osisko Bermuda Limited, which is a wholly-owned subsidiary of Osisko Gold Royalties Ltd, and a party to gold and silver stream agreements with Aquila relating to the Back Forty Project, has also reiterated that it considers GORO to be an approved purchaser under those agreements, and that it is supportive of the Transaction.

    Board Approvals

    The Arrangement Agreement has been unanimously approved by the boards of directors of both GORO and Aquila. The Aquila board’s approval of the Arrangement Agreement was based in part on the unanimous recommendation of a special committee of independent directors of Aquila which was appointed to consider the Transaction. The board of Aquila has received an opinion from PI Financial Corp. that based upon and subject to the assumptions, limitations, and qualifications set forth therein, the consideration to be received by Aquila shareholders pursuant to the Transaction is fair, from a financial point of view, to Aquila shareholders.

    Advisors

    Goodmans LLP is Aquila’s Canadian legal advisor and Scotiabank and PI Financial Corp. are Aquila’s financial advisors.

    ABOUT AQUILA

    Aquila Resources Inc. (TSX: AQA, OTCQB: AQARF) is a development‐stage company focused on high grade polymetallic projects in the Upper Midwest, USA. Aquila’s experienced management team is currently advancing pre-construction activities for its flagship 100%‐owned gold and zinc‐rich Back Forty Project in Michigan.

    The Back Forty Project is a volcanogenic massive sulfide deposit with open pit and underground potential located along the mineral‐rich Penokean Volcanic Belt in Michigan’s Upper Peninsula. Back Forty contains approximately 1.1 million ounces of gold and 1.2 billion pounds of zinc in the Measured & Indicated Mineral Resource classifications, with additional exploration upside. An optimized Feasibility Study for the Project is underway.

    Additional disclosure of Aquila’s financial statements, technical reports, material change reports, news releases and other information can be obtained at www.aquilaresources.com or on SEDAR at www.sedar.com.

    ABOUT GOLD RESOURCE CORPORATION

    Gold Resource Corporation is a gold and silver producer, developer, and explorer with its operations centered on the Don David Gold Mine in Oaxaca, Mexico. Under the direction of a new board and senior leadership, the Company focus is to unlock the significant upside potential of its existing infrastructure and large land position surrounding the mine, to close the acquisition of Aquila Resources Inc., and to develop the Back Forty Project in Michigan, USA. For more information, please visit GRC’s website, located at www.goldresourcecorp.com and read the Company’s 10-K for an understanding of the risk factors involved.

    Cautionary statement regarding forward-looking information

    This press release may contain certain forward-looking statements. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". In particular, this news release contains forward-looking information pertaining to the following: statements regarding the Transaction, including with respect to the benefits of the Transaction and expectations regarding the combined company (including its growth profile and resource profile, the development of the Back Forty Project, cash flow generation from the Don David Gold Mine, and its market presence and re-rating potential and expectations regarding the payment of dividends); the timing of key Transaction milestones and closing; the ability of GORO and Aquila to satisfy the conditions to and to complete the Transaction; and expectations regarding the impact of the Transaction on GORO and Aquila including in respect of anticipated financial and operating results, strategy and business, and on stakeholders in general. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Aquila to control or predict, that may cause their actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the satisfaction of the conditions precedent to the closing of the Transaction (including the obtaining of all shareholder, court, and regulatory approvals); risks associated with the Transaction and acquisitions generally; the Arrangement Agreement may be terminated in certain circumstances; Aquila will incur costs even if the Transaction is not completed; all necessary approvals and consents may not be obtained; uncertainty regarding the ability of the parties to complete all Transaction milestones on the intended timing; inherent risks of mining exploration, development and production operations; economic factors affecting the Company and/or GORO; the integration of the businesses of the Company and GORO; political conditions and the regulatory environment in the United States and Mexico; and the scope, duration, and impact of the COVID-19 pandemic on the Company and GORO as well as the scope, duration and impact of government action aimed at mitigating the pandemic; and other related risks and uncertainties, including, but not limited to, risks and uncertainties disclosed in Aquila’s filings on its website at www.aquilaresources.com and on SEDAR at www.sedar.com. Aquila undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents Aquila’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Furthermore, mineral resources that are not mineral reserves do not have demonstrated economic viability.

    View source version on businesswire.com: https://www.businesswire.com/news/home/20211006005518/en/

    Contacts

    Guy Le Bel, President & CEO, Director
    Tel: 450.582.6789
    glebel@aquilaresources.com

    David Carew, VP Corporate Development & IR
    Tel: 647.943.5677
    dcarew@aquilaresources.com

    DENVER, CO / ACCESSWIRE / October 6, 2021 / Gold Resource Corporation ( " GRC " or the " Company ") (NYSE American:GORO) is pleased to announce that it has entered into a definitive arrangement agreement (the " Arrangement Agreement ") with Aquila Resources Inc. (" Aquila ") (TSX:AQA)(OTCQB:AQARF) providing for the acquisition by GRC of all the issued and outstanding common shares of Aquila by way of a plan of arrangement under the Business Corporations Act (Ontario) (the " Transaction ").

    As announced by GRC on September 7, 2021, pursuant to the Transaction GRC will, through a wholly-owned subsidiary, acquire all the issued and outstanding Aquila shares for 0.0399 of a GRC share per Aquila share (the " Exchange Ratio "). Based upon the 20-day volume-weighted average price (" VWAP ") of GRC's shares on the NYSE American stock exchange on September 3, 2021, being the last trading day prior to the date of the announcement of the Transaction, the Exchange Ratio represents a 29% premium to the 20-day VWAP of Aquila's shares on the Toronto Stock Exchange as of such date. The Exchange Ratio represents consideration of C$0.09 per Aquila share (the " Per Share Price "), reflecting a premium of 12.5%, based upon the closing prices of the Aquila shares and the GRC shares on September 3, 2021. The Per Share Price implies an aggregate acquisition price for 100% of the outstanding Aquila shares of approximately C$30.9 million.

    Upon closing of the Transaction, the existing GRC and Aquila shareholders will own approximately 85.1% and 14.9%, respectively, of the combined company on a fully diluted basis.

    Allen Palmiere, President and Chief Executive Officer of GRC, said: "This Transaction offers an attractive opportunity to the shareholders of Aquila and GRC to develop the Back Forty Project using GRC's strong balance sheet and cash flows. In addition, the combination of our complementary gold-rich assets will enhance both our mineral inventory and jurisdiction diversification. The announcement by Aquila yesterday, that it had closed the sale of its Bend and Reef exploration properties, was an important step in the process for signing the Arrangement Agreement. With this Transaction, we look forward to becoming a new intermediate gold producer with a peer leading growth profile."

    Strategic Rationale for the Transaction
    As previously announced on September 7, 2021, the benefits of the Transaction to GRC and Aquila shareholders include the following:

    • Accretive Transaction for GRC Shareholders. The Transaction is expected to be immediately accretive to GRC shareholders on a net asset value basis.

    • Significantly Improved Gold Resource Profile. Based upon the parties' respective public disclosure and GRC's technical due diligence to date on the Back Forty Project, GRC anticipates that its gold resources have the potential to increase by in excess of 500% upon completion of the Transaction.

    • Growth Profile and Financial Strength of Combined Company. The combined company is expected to benefit from a peer leading growth profile, a robust balance sheet with no debt and cash of US$30.2 million at June 30, 2021, free cash flow generation from its Don David Gold Mine and the synergies that generally accrue from scale in the areas of general and administrative expenses, from less duplication of salaries, wages and other public company expenses, improved concentrate sales and marketing and supply chain efficiencies. Its position of financial strength is expected to result in an improved ability to access required additional financing to fund the Back Forty Project's capital expenditures.

    • Enhanced Project and Jurisdictional Diversification. Each of GRC and Aquila is currently a single-asset, single-jurisdiction company. Through the Transaction, GRC and Aquila shareholders will have the opportunity to participate in the ongoing growth of a multi-jurisdictional, diversified precious and base metal producer with exposure to gold, silver, zinc, copper and lead through GRC's producing Don David Gold Mine in Oaxaca, Mexico and Aquila's Back Forty Project in Menominee County, Michigan.

    • Enhanced Market Presence and Re-Rating Potential. GRC currently benefits from inclusion in the VanEck Junior Gold Miners ETF (the " GDXJ ") and from an average daily trading volume of approximately 1 million shares, trailing three months. The Transaction is intended to result in the Back Forty Project being placed into production on a more accelerated basis, funded by cash flow generation, thus elevating the combined company to intermediate producer status. Following the completion of the Transaction, GRC is expected to continue to be included in the GDXJ and to benefit from an enhanced capital markets profile in the United States and Canada, as well as increased trading liquidity and broadened appeal to global index, resource, and generalist investors. This offers the potential for a re-rating to a multiple more in line with other intermediate gold producers.

    • Experienced Management Team. The combined company will benefit from GRC's and Aquila's technical and operational teams' expertise in polymetallic open pit and underground mines. The GRC executive team has a demonstrated record of success in developing and operating mining projects in the Americas.

    • Immediate and Significant Premium to Aquila Shareholders. Based on the 20-day VWAPs of the GRC shares and the Aquila shares, the Transaction offers an immediate and significant premium to Aquila's shareholders of 29%. Given the current market environment and lack of liquidity for the shares of Aquila, GRC continues to believe that this a compelling value proposition.

    Demonstrated Consistent Dividend History. Post-Transaction, GRC intends to continue to pay dividends in accordance with its past practice. The recent dividend of US$0.01 per GRC share, paid to shareholders on September 30, 2021, continues the more than ten years of consistent dividend payments by GRC.

    Support for the Transaction from Key Aquila Stakeholders

    • Each of Orion Mine Finance and Hudbay Minerals Inc., which hold 28.3% and 10.4%, respectively, of the issued and outstanding Aquila shares, has entered into a voting support agreement with GRC pursuant to which they have agreed to vote their Aquila shares in favour of the Transaction. In addition, all of the directors and officers of Aquila holding approximately 1.9% Aquila shares in aggregate have also executed a voting support agreement.

    • Osisko Bermuda Limited which is a wholly-owned subsidiary of Osisko Gold Royalties Ltd and a party to gold and silver stream agreements with Aquila relating to the Back Forty Project, has also reiterated that it considers GRC to be an approved purchaser under those agreements, and that it is supportive of the Transaction.

    Board Approvals
    The Arrangement Agreement has been unanimously approved by the boards of directors of both GRC and Aquila. The Aquila board's approval of the Arrangement Agreement was based in part on the unanimous recommendation of a special committee of independent directors of Aquila which was appointed to consider the Transaction. The board of Aquila has received an opinion from one of its financial advisors, PI Financial Corp., that based upon and subject to the assumptions, limitations, and qualifications set forth therein, the consideration to be received by Aquila shareholders pursuant to the Transaction is fair, from a financial point of view, to Aquila shareholders.

    Transaction Summary
    The Transaction will require the approval of 66⅔ percent of the votes cast by Aquila shareholders at a special meeting of shareholders (the " Aquila Shareholder Meeting "). The Aquila Shareholder Meeting is scheduled to be held on November 17, 2021. The Transaction is also subject to approval by the Ontario Superior Court of Justice (Commercial List) and applicable stock exchange approvals. The Transaction does not require the approval of GRC's shareholders.

    In addition to shareholder, court and regulatory approvals, the Transaction is also subject to the satisfaction of certain other closing conditions that are customary for a transaction of this nature, and each of GRC and Aquila has provided appropriate interim period covenants regarding the operation of its business in the ordinary course. The Arrangement Agreement includes customary deal protection provisions pursuant to which Aquila has agreed not to solicit any other acquisition proposal (subject to customary fiduciary out rights), has agreed to grant GRC the right to match any superior proposal, and will pay a termination fee of US$1,000,000 to GRC if the Arrangement Agreement is terminated in certain circumstances.

    Details of the Transaction and the Arrangement Agreement will be set out in the management information circular to be prepared and mailed to Aquila shareholders in connection with the Aquila Shareholder Meeting. A copy of the Arrangement Agreement will be filed with the Securities and Exchange Commission on Form 8K and will be available on GRC's website under the Reports and Filings tab located in the Investors section located here: https://goldresourcecorp.com/investors/reports-and-filings/ .

    Subject to all conditions precedent to completion of the Transaction being met, the Transaction is expected to close in late November 2021. In connection with the closing of the Transaction, Aquila will apply to have its shares delisted from the TSX.

    Advisors
    Fasken Martineau DuMoulin LLP and Davis Graham & Stubbs LLP are GRC's Canadian and U.S. legal advisors, respectively, and Beacon Securities Limited is GRC's financial advisor.

    About Gold Resource Corporation
    Gold Resource Corporation is a gold and silver producer, developer, and explorer with its operations centered on the Don David Gold Mine in Oaxaca, Mexico. Under the direction of a new board and senior leadership, the Company focus is to unlock the significant upside potential of its existing infrastructure and large land position surrounding the mine, to close our acquisition of Aquila Resources Inc., and to develop the Back Forty Project in Michigan, USA. For more information, please visit GRC's website, located at www.goldresourcecorp.com and read the Company's 10-K for an understanding of the risk factors involved.

    About Aquila Resources Inc.
    Aquila Resources Inc. is a development‐stage company focused on the development its 100%-owned gold-rich Back Forty Project in Michigan.

    Forward-Looking Information and other Cautionary Statements
    This press release contains forward-looking statements that involve risks and uncertainties. The statements contained in this press release that are not purely historical are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this press release, the words "plan", "target", "anticipate", "believe", "estimate", "intend", "propose", "potential" and "expect" and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, without limitation: statements regarding the Transaction, including statements with respect to the benefits of the Transaction and expectations regarding the combined company (including its growth profile and resource profile, the development of the Back Forty Project, cash flow generation from the Don David Gold Mine, its market presence and re-rating potential and expectations regarding the payment of dividends); the timing of key Transaction milestones and closing; the ability of GRC and Aquila to satisfy the conditions to and to complete the Transaction; and expectations regarding the impact of the Transaction on GRC and Aquila including in respect of anticipated financial and operating results, strategy and business, and on stakeholders in general.

    All forward-looking statements in this press release are based upon information available to GRC on the date of this press release, and the Company assumes no obligation to update any such forward-looking statements. Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. Such risks and uncertainties and other factors that could cause actual results and future to differ from those expressed or implied by the forward-looking statements include, but are not limited to: the satisfaction of the conditions precedent to the closing of the Transaction (including the obtaining of all shareholder, court and regulatory approvals); risks associated with the Transaction and acquisitions generally; the Arrangement Agreement may be terminated in certain circumstances; GRC will incur costs even if the Transaction is not completed; all necessary approvals and consents may not be obtained; uncertainty regarding the ability of the parties to complete all Transaction milestones on the intended timing; inherent risks of mining exploration, development and production operations; economic factors affecting the Company and/or Aquila; the integration of the businesses of the Company and Aquila; political conditions and the regulatory environment in the United States and Mexico; and the scope, duration, and impact of the COVID-19 pandemic on mining operations, Company employees, and supply chains as well as the scope, duration and impact of government action aimed at mitigating the pandemic. Additional factors that could cause or contribute to such differences include, but are not limited to, those discussed in the periodic and current reports filed by the Company with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2020.

    For further information please contact:

    Gold Resource Corporation
    Ann Wilkinson, VP, IR and Corporate Affairs
    Phone: 720-459-3851
    E-mail: Ann.Wilkinson@GRC-USA.com

    SOURCE: Gold Resource Corporation

    View source version on accesswire.com:
    https://www.accesswire.com/666971/Gold-Resource-Corporation-Enters-Into-Arrangement-Agreement-With-Aquila-Resources-Inc

    Freeport-McMoRan (FCX) closed the most recent trading day at $32.20, moving -1.56% from the previous trading session. This change lagged the S&P 500's 1.05% gain on the day.

    Prior to today's trading, shares of the mining company had lost 9.49% over the past month. This has lagged the Basic Materials sector's loss of 8.25% and the S&P 500's loss of 5.07% in that time.

    FCX will be looking to display strength as it nears its next earnings release. On that day, FCX is projected to report earnings of $0.83 per share, which would represent year-over-year growth of 186.21%. Meanwhile, our latest consensus estimate is calling for revenue of $6.17 billion, up 60.3% from the prior-year quarter.

    FCX's full-year Zacks Consensus Estimates are calling for earnings of $2.97 per share and revenue of $23.04 billion. These results would represent year-over-year changes of +450% and +62.27%, respectively.

    It is also important to note the recent changes to analyst estimates for FCX. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

    Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

    The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.42% higher. FCX is currently sporting a Zacks Rank of #3 (Hold).

    Digging into valuation, FCX currently has a Forward P/E ratio of 11.02. This valuation marks a discount compared to its industry's average Forward P/E of 12.39.

    It is also worth noting that FCX currently has a PEG ratio of 0.33. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Mining – Non Ferrous industry currently had an average PEG ratio of 0.55 as of yesterday's close.

    The Mining – Non Ferrous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 71, putting it in the top 28% of all 250+ industries.

    The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

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

    Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
     
    FreeportMcMoRan Inc. (FCX) : Free Stock Analysis Report
     
    To read this article on Zacks.com click here.
     
    Zacks Investment Research

    Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of permanent loss is the risk I worry about… and every practical investor I know worries about.' So it might be obvious that you need to consider debt, when you think about how risky any given stock is, because too much debt can sink a company. We note that Hochschild Mining plc (LON:HOC) does have debt on its balance sheet. But the more important question is: how much risk is that debt creating?

    Why Does Debt Bring Risk?

    Debt and other liabilities become risky for a business when it cannot easily fulfill those obligations, either with free cash flow or by raising capital at an attractive price. Ultimately, if the company can't fulfill its legal obligations to repay debt, shareholders could walk away with nothing. 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. By replacing dilution, though, debt can be an extremely good tool for businesses that need capital to invest in growth at high rates of return. The first step when considering a company's debt levels is to consider its cash and debt together.

    Check out our latest analysis for Hochschild Mining

    How Much Debt Does Hochschild Mining Carry?

    You can click the graphic below for the historical numbers, but it shows that Hochschild Mining had US$209.8m of debt in June 2021, down from US$227.1m, one year before. However, its balance sheet shows it holds US$256.9m in cash, so it actually has US$47.1m net cash.

    debt-equity-history-analysisdebt-equity-history-analysis
    debt-equity-history-analysis

    How Strong Is Hochschild Mining's Balance Sheet?

    The latest balance sheet data shows that Hochschild Mining had liabilities of US$195.2m due within a year, and liabilities of US$376.7m falling due after that. On the other hand, it had cash of US$256.9m and US$90.4m worth of receivables due within a year. So its liabilities total US$224.5m more than the combination of its cash and short-term receivables.

    Hochschild Mining has a market capitalization of US$927.7m, so it could very likely raise cash to ameliorate its balance sheet, if the need arose. But it's clear that we should definitely closely examine whether it can manage its debt without dilution. Despite its noteworthy liabilities, Hochschild Mining boasts net cash, so it's fair to say it does not have a heavy debt load!

    Even more impressive was the fact that Hochschild Mining grew its EBIT by 142% over twelve months. That boost will make it even easier to pay down debt going forward. The balance sheet is clearly the area to focus on when you are analysing debt. But ultimately the future profitability of the business will decide if Hochschild Mining can strengthen its balance sheet over time. So if you're focused on the future you can check out this free report showing analyst profit forecasts.

    Finally, a business needs free cash flow to pay off debt; accounting profits just don't cut it. While Hochschild Mining 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. During the last three years, Hochschild Mining produced sturdy free cash flow equating to 66% of its EBIT, about what we'd expect. This free cash flow puts the company in a good position to pay down debt, when appropriate.

    Summing up

    While Hochschild Mining does have more liabilities than liquid assets, it also has net cash of US$47.1m. And we liked the look of last year's 142% year-on-year EBIT growth. So is Hochschild Mining's debt a risk? It doesn't seem so to us. When analysing debt levels, the balance sheet is the obvious place to start. But ultimately, every company can contain risks that exist outside of the balance sheet. For instance, we've identified 2 warning signs for Hochschild Mining that you should be aware of.

    At the end of the day, it's often better to focus on companies that are free from net debt. You can access our special list of such companies (all with a track record of profit growth). It's free.

    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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

    CHICAGO, October 05, 2021–(BUSINESS WIRE)–Coeur Mining, Inc. ("Coeur" or the "Company") (NYSE: CDE) today announced that it will report its third quarter 2021 operational and financial results after the New York Stock Exchange closes for trading on Wednesday, October 27, 2021. The Company will be hosting a conference call at 11:00 a.m. Eastern Time (10:00 a.m. Central Time) on Thursday, October 28, 2021.

    Hosting the call will be Mitchell J. Krebs, President and Chief Executive Officer of Coeur, who will be joined by Thomas S. Whelan, Senior Vice President and Chief Financial Officer, Michael "Mick" Routledge, Senior Vice President and Chief Operating Officer, and other members of management. A replay of the call will be available through November 4, 2021.

    Conference Call Details:

    U.S.:

    (855) 560-2581

    Canada:

    (855) 669-9657

    International:

    (412) 542-4166

    Conference ID:

    Coeur Mining

    Replay Numbers:

    U.S.:

    (877) 344-7529

    Canada:

    (855) 669-9658

    International:

    (412) 317-0088

    Conference ID:

    101 60 418

    About Coeur

    Coeur Mining, Inc. is a U.S.-based, well-diversified, growing precious metals producer with five wholly-owned operations: the Palmarejo gold-silver complex in Mexico, the Rochester silver-gold mine in Nevada, the Kensington gold mine in Alaska, the Wharf gold mine in South Dakota, and the Silvertip silver-zinc-lead mine in British Columbia. In addition, the Company has interests in several precious metals exploration projects throughout North America.

    View source version on businesswire.com: https://www.businesswire.com/news/home/20211005005948/en/

    Contacts

    Coeur Mining, Inc.
    104 S. Michigan Avenue, Suite 900
    Chicago, Illinois 60603
    Attention: Paul DePartout, Director, Investor Relations
    Phone: (312) 489-5800
    www.coeur.com

    Vancouver, British Columbia–(Newsfile Corp. – October 5, 2021) – IMPACT Silver Corp. (TSXV: IPT) (OTC Pink: ISVLF) ("IMPACT" or the "Company") is pleased to announce high grade silver results from an underground development drilling program in the Lipton area of its Guadalupe Mine in the Royal Mines of Zacualpan District, Mexico.

    Guadalupe Mine Underground Drilling – Lipton Vein Area

    Holes MPZ-UG-001-21 to MPZ-UG-020-21 tested the northwest trending Lipton, Liptonia and San Lorenzo veins from three underground drill stations on Level 110 of the Guadalupe Mine's extensive workings. The drill holes covered the vein systems over a strike length of 430m and a vertical distance of 200m.

    Table 1: Highlights of recent drilling in Lipton area of the Guadalupe Mine

    Hole ID

    From (m)

    To (m)

    Interval (m)

    True Width(m)

    Ag g/t

    Pb %

    Zn %

    Vein

    MPZ-UG-001-21

    329.20

    331.70

    2.50

    2.50

    327

    0.3

    0.6

    Liptonia

    MPZ-UG-002-21

    113.75

    115.80

    2.05

    1.29

    691

    0.3

    0.7

    San Lorenzo

    MPZ-UG-002-21

    314.15

    317.00

    2.85

    2.18

    257

    0.2

    0.5

    Lipton

    MPZ-UG-002-21

    336.20

    339.20

    3.00

    3.00

    226

    0.2

    0.3

    Liptonia

    MPZ-UG-006-21

    58.30

    60.90

    2.60

    1.90

    443

    0.2

    0.3

    Liptonia

    MPZ-UG-014-21

    144.30

    146.50

    2.20

    1.69

    472

    0.2

    0.5

    Lipton

    MPZ-UG-014-21

    151.73

    155.40

    3.67

    2.81

    238

    0.6

    1.2

    Liptonia

    MPZ-UG-014-21

    165.18

    168.15

    2.97

    2.57

    187

    0.1

    0.3

    Liptonia

    MPZ-UG-018-21

    118.70

    120.80

    2.10

    1.20

    423

    0.1

    0.2

    Lipton

     

    The Lipton and Liptonia Veins have been significant production veins in the Guadalupe Mine since at least the 1970's, long before IMPACT acquired the project in 2006. Before then historical records describe mining at Guadalupe going back almost 500 years to 1529. Lipton / Liptonia has been mined and traced over a strike length of 1.5 kilometres, to a depth of over 200m, and remain open for extension. IMPACT continues mining at Guadalupe which currently provides almost 50% of mill feed to the 550 tpd Guadalupe processing plant located just 40m from the mine entrance.

    Fred Davidson, CEO and President of IMPACT comments, "The high grade results at our current producing Guadalupe mine is a testament of our geological team's understanding of mineralization and potential of the area.

    With 20,000 meters of drilling underway in 2021 and newly added underground diamond drill to our internal fleet, our team is aggressively expanding our understanding of the veins mineralization and beyond to add both ounces and blue sky potential to the IMPACT story."

    The recently purchased underground diamond drill (see IMPACT news release dated February 1, 2021) has allowed faster drill production with improved core recovery and greater depth capacity giving IMPACT a much improved ability to test the potential of Guadalupe's multiple vein systems as well as mineralization at its other mines. Recent improvements to the Guadalupe Mine's infrastructure including the upgrading of the main shaft hoist has given better access to the mine's six levels and the refurbishing of the 900m underground railroad system on Level 195 provides cost efficient access to the far western reaches of the extensive workings.

    Qualified Person and NI 43-101 Disclosure

    Wojtek Jakubowski, P.Geo. is a "qualified person" within the meaning of NI 43-101 and has approved the technical information contained in this news release.

    About IMPACT Silver

    IMPACT Silver Corp. is a successful silver-gold explorer-producer with two processing plants on adjacent districts within its 100% owned mineral concessions covering 211km2 in central Mexico with excellent infrastructure and labor force. Over the past 15 years, IMPACT has produced over 10 million ounces of silver, generating revenues of over $200 million, with no long-term debt. At the Royal Mines of Zacualpan Silver District, three underground silver mines and one open pit mine feed the central Guadalupe processing plant. To the south, in the Mamatla District, the Capire Project includes a 200 tpd processing pilot plant adjacent to an open pit silver mine with a mineral resource of over 4.5 million oz silver, 48 million lbs zinc and 21 million lbs lead (see IMPACT news release dated January 18, 2016 for details). Company engineers are reviewing Capire for potential restart of operations in light of current elevated silver prices. With 15 years of exploration successes leading to production cash flows, IMPACT has shown the Zacualpan Silver-Gold District to be endowed with many high grade silver-gold zones and has placed multiple zones into commercial production.

    Additional information about IMPACT and its operations can be found on the Company website at www.IMPACTSilver.com. Follow us on Twitter @IMPACT_Silver and LinkedIn at https://www.linkedin.com/company/impactsilver

    On behalf of IMPACT Silver Corp.

    "Frederick W. Davidson"
    President & CEO

    For more information, please contact:

    Jerry Huang
    CFO | Investor Relations
    (604) 664 7707 or inquiries@impactsilver.com
    (778) 887 6489 Direct

    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.

    Forward-Looking and Cautionary Statements

    This IMPACT News Release may contain certain "forward-looking" statements and information relating to IMPACT that is based on the beliefs of IMPACT management, as well as assumptions made by and information currently available to IMPACT management. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements include, but are not limited to, statements with respect to the expected use of proceeds of the Private Placement.

    Such forward-looking information involves known and unknown risks and assumptions, including with respect to, without limitations, exploration and development risks, expenditure and financing requirements, title matters, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events. Should any one or more risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein. IMPACT does not assume the obligation to update any forward-looking statement.

    The Company's decision to place a mine into production, expand a mine, make other production related decisions or otherwise carry out mining and processing operations, is largely based on internal non-public Company data and reports based on exploration, development and mining work by the Company's geologists and engineers. The results of this work are evident in the discovery and building of multiple mines for the Company and in the track record of mineral production and financial returns of the Company since 2006. Under NI 43-101 the Company is required to disclose that it has not based its production decisions on NI 43-101 compliant mineral resource or reserve estimates, preliminary economic assessments or feasibility studies, and historically such projects have increased uncertainty and risk of failure.

    303-543 Granville Street Telephone 604 664-7707
    Vancouver, BC, Canada V6C 1X8
    www.impactsilver.com
    Twitter
    LinkedIn

    To view the source version of this press release, please visit https://www.newsfilecorp.com/release/98509

    VIRGINIA CITY, Nev., Oct. 05, 2021 (GLOBE NEWSWIRE) — Comstock Mining Inc. (NYSE: LODE) (“Comstock” or the “Company”) announced today that its Executive Chairman and CEO, Corrado De Gasperis, is presenting at the LD Micro Main Event in Los Angeles on Wednesday, October 13, 2021, at 12:00 p.m. PDT.

    “We are very much looking forward to the first live conference in almost two years. Our recent acquisitions have transformed our portfolio to meet the escalating demand for increasingly scarce natural resources, including the strategic resources needed to fuel the worldwide surge in, and transition to, clean energy and carbon-neutrality,” said Corrado De Gasperis, Comstock’s Executive Chairman and Chief Executive Officer. “We have eliminated our debt, tripled our assets and positioned a ready portfolio of clean technologies, and a highly experienced, expanded management team with the capacity for exponential growth and extraordinary financial, natural, and social impacts.”

    Presentation details:

    Date: Wednesday, October 13, 2021

    Time: 12:00 p.m. PDT to 12:30 p.m. PDT

    Register to watch the virtual presentation here.

    About Comstock Mining Inc.

    Comstock Mining Inc. (NYSE: LODE) (the “Company”) is an emerging innovator and leader in the sustainable extraction, valorization, and production of scarce natural resources, with a focus on high value strategic materials that are essential to meeting the rapidly increasing global demand for clean energy, carbon-neutrality, and natural products. To learn more, please visit www.comstockmining.com.

    About LD Micro (NASDAQ: SRAX)

    LD Micro aims to be the most crucial resource in the micro-cap world. Whether it is the index, comprehensive data, or hosting the most significant events on an annual basis, LD's sole mission is to serve as an invaluable asset for all those interested in finding the next generation of great companies. http://www.ldmicro.com

    Forward-Looking Statements

    This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements, but are not the exclusive means of doing so.

    Forward-looking statements include statements about matters such as: future industry market conditions; future explorations or acquisitions; future changes in our exploration activities; future prices and sales of, and demand for, our products; land entitlements and uses; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land sales; investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives, including the nature, timing and accounting for restructuring charges, derivative assets and liabilities and the impact thereof; contingencies; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings, limitations on sales or offering of equity or debt securities, including asset sales and associated costs; and future working capital, costs, revenues, business opportunities, debt levels, cash flows, margins, taxes, earnings and growth. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: adverse effects of climate changes or natural disasters; adverse effects of global or regional pandemic disease spread or other crises; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, mercury remediation and lithium, nickel and cobalt recycling, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration or mercury remediation, metal recycling, processing or mining activities; costs, hazards and uncertainties associated with precious metal based activities, including environmentally friendly and economically enhancing clean mining and processing technologies, precious metal exploration, resource development, economic feasibility assessment and cash generating mineral production; costs, hazards and uncertainties associated with mercury remediation, metal recycling, processing or mining activities; contests over our title to properties; potential dilution to our stockholders from our stock issuances, recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting our businesses; permitting constraints or delays; ability to achieve the benefits of business opportunities that may be presented to, or pursued by, us, including those involving battery technology, mercury remediation technology and efficacy, quantum computing and advanced materials development, and development of cellulosic technology in bio-fuels and related carbon-based material production; ability to successfully identify, finance, complete and integrate acquisitions, joint ventures, strategic alliances, business combinations, asset sales, and investments that we may be party to in the future; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, lithium, nickel, cobalt, cyanide, water, diesel, gasoline and alternative fuels and electricity); changes in generally accepted accounting principles; adverse effects of war, mass shooting, terrorism and geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the Securities and Exchange Commission; potential inability to list our securities on any securities exchange or market or maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

    Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund or any other issuer.

    Contact information:

    Comstock Mining Inc.
    P.O. Box 1118
    Virginia City, NV 89440
    ComstockMining.com

    Corrado De Gasperis
    Executive Chairman & CEO
    Tel (775) 847-4755
    degasperis@comstockmining.com

    Zach Spencer
    Director of External Relations
    Tel (775) 847-5272 Ext.151
    questions@comstockmining.com

    Figure 1:

    1800 level 980-1450 Stoping Block1800 level 980-1450 Stoping Block
    1800 level 980-1450 Stoping Block
    1800 level 980-1450 Stoping Block

    NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

    VANCOUVER, British Columbia, Oct. 05, 2021 (GLOBE NEWSWIRE) — AURCANA SILVER CORPORATION ("Aurcana" or the "Company") (TSXV: AUN, OTCQF: AUNFF) is pleased to provide an update on development progress for the 1800 level stopes and mill operations.

    The mill construction is complete and final commissioning of the mill is ongoing. Development ore was stockpiled for processing during the commission period with final commissioning to coincide with stope ore. Mill throughput has been tested as high as 13 tons per hour (tph) 312 tons per day (tpd) without any major issues arising. The targeted mill throughput is 270 tph. Both lead and zinc concentrates are being produced and it is anticipated that the first shipment will occur during the week of October 4th. Although early in the start-up process, metallurgical performance of the mill and flotation circuits appear to be as forecast in the Feasibility Study.

    Lateral development on the 1800 level is progressing well; the first stope ore came online from the 1800 level on September 25th. Geological sampling of development headings shows an average weighted silver equivalent grade of 39 ounces per short ton, with grades as high as 196 ounces per short ton (AgEq/ton) compared to the modeled grades in the same area of approximately 27 AgEq/ton.

    The first stope will be brought into the production sequence in phases, based on the timeline indicated in Figure 1.

    Figure 1 accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/5581892c-832f-407a-b034-d518cc6653c8

    __________________
    1 By-product credit metal pricing is the same as Silver equivalent pricing

    Qualified Person Statement

    The scientific and technical content of this news release was reviewed and approved by Michael Gross, P. Geo, a “qualified person” within the meaning of NI 43-101.

    ABOUT AURCANA CORPORATION

    Aurcana Corporation owns the Revenue-Virginius Mine, in Colorado, and the Shafter-Presidio Silver Project in Texas, US. The primary resource at Shafter and Revenue-Virginius is silver. Both are fully permitted for production.

    ON BEHALF OF THE BOARD OF DIRECTORS OF AURCANA CORPORATION

    Kevin Drover
    President & CEO

    For further information, visit the website at www.aurcana.com or contact:

    Aurcana Corporation
    850 – 789 West Pender Street
    Vancouver, BC V6C 1H2
    Phone: (604) 331-9333

    Gary Lindsey, Corporate Communications
    Phone: (720)-273-6224
    Email: gary@strata-star.com

    CAUTIONARY NOTES

    This press release contains forward looking statements within the meaning of applicable securities laws. The use of any of the words “anticipate”, “plan”, “continue”, “expect”, “estimate”, “objective”, “may”, “will”, “project”, “should”, “predict”, “potential” and similar expressions are intended to identify forward looking statements. In particular, this press release contains forward looking statements concerning, without limitation, statements relating to the Private Placement (including with respect to the timing of closing of the Private Placement). Although the Company believes that the expectations and assumptions on which the forward looking statements are based are reasonable, undue reliance should not be placed on the forward looking statements because the Company cannot give any assurance that they will prove correct. Since forward looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with the receipt of regulatory or shareholder approvals, and risks related to the state of financial markets or future metals prices.

    Management has provided the above summary of risks and assumptions related to forward looking statements in this press release in order to provide readers with a more comprehensive perspective on the Company’s future operations. The Company’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward looking statements, whether as a result of new information, future events or results or otherwise.

    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.

    Excellon Resources (NYSE: EXN) today announced results from underground drilling at the Platosa Mine in Durango, Mexico. Among the highlights, the company reported further high-grade results from the 623, NE-1S, and Guadalupe South mantos, with diamond drilling results from underground.

    “Drilling at Platosa continues to define high-grade mineralization ahead of production,” said SVP of Geology and Corporate Development Ben Pullinger. “With EX21UG690, we have potentially discovered a new zone of very high-grade mineralization sitting below the historically mined upper part of the 623 Manto. This mineralization is located approximately 80 metres above the deepest current development heading and appears to have a vertical attitude that was not tested in historical drilling. Follow-up drilling to test this zone is an immediate priority of the ongoing drill campaign.”

    To view the full press release, visit https://ibn.fm/AqM6K

    About Excellon Resources Inc.

    Excellon’s vision is to create wealth by realizing strategic opportunities through discipline and innovation for the benefit of its employees, communities and shareholders. The company is advancing a precious metals growth pipeline that includes: Platosa, Mexico’s highest-grade silver mine since production commenced in 2005; Kilgore, a high-quality gold development project in Idaho with strong economics and significant growth and discovery potential; and an option on Silver City, a high-grade epithermal silver district in Saxony, Germany with 750 years of mining history and no modern exploration. The company also aims to continue capitalizing on current market conditions by acquiring undervalued projects. Additional details on Excellon’s properties are available at www.ExcellonResources.com.

    NOTE TO INVESTORS: The latest news and updates relating to EXN are available in the company’s newsroom at https://ibn.fm/EXN

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    Excellon Resources Inc. Logo (CNW Group/Excellon Resources Inc.) (CNW Group/Excellon Resources Inc.)
    Excellon Resources Inc. Logo (CNW Group/Excellon Resources Inc.) (CNW Group/Excellon Resources Inc.)

    TORONTO, Oct. 5, 2021 /CNW/ – Excellon Resources Inc. (TSX: EXN) (TSX: EXN.WT) (NYSE: EXN) (FRA: E4X2) ("Excellon" or the "Company") is pleased to announce results from underground drilling at the Platosa Mine in Durango, Mexico.

    Highlights

    • Further high-grade results from the 623, NE-1S, and Guadalupe South mantos, with diamond drilling results from underground including:

    • Underground drilling continues to define and delineate mineralization for 2021 and 2022 production; and

    • Potential new zone of high-grade mineralization discovered in EX21UG690 below historically mined zone in Guadalupe South, with upcoming drilling to test vertical attitude and extent.

    "Drilling at Platosa continues to define high-grade mineralization ahead of production," stated Ben Pullinger, Senior Vice President Geology & Corporate Development. "With EX21UG690, we have potentially discovered a new zone of very high-grade mineralization sitting below the historically mined upper part of the 623 Manto. This mineralization is located approximately 80 metres above the deepest current development heading and appears to have a vertical attitude that was not tested in historical drilling. Follow-up drilling to test this zone is an immediate priority of the ongoing drill campaign."

    Exploration Results

    The following table shows highlighted intervals from the current definition and infill program being conducted from underground at Platosa:

    Hole ID(1)

    Interval(2)

    Interval(3)

    Ag

    Pb

    Zn

    Au

    AgEq(4)

    Area

    From

    To

    metres

    g/t

    %

    %

    g/t

    g/t

    EX21UG620

    52.5

    53.5

    1.0

    380

    4.3

    0.4

    0.1

    511

    NE-1S

    EX21UG629

    60.3

    64.7

    4.4

    358

    2.2

    3.4

    0.1

    536

    GUA-S

    including

    61.0

    63.0

    2.0

    669

    2.9

    6.9

    0.1

    984

    EX21UG633

    70.9

    75.6

    4.8

    391

    6.6

    5.3

    742

    NE-1S

    including

    73.6

    75.6

    2.0

    728

    13.7

    10.3

    1,434

    EX21UG635

    53.0

    54.0

    1.0

    477

    4.0

    1.3

    0.1

    631

    NE-1S

    EX21UG641

    44.6

    45.4

    0.8

    5,052

    18.4

    1.3

    5,574

    623

    EX21UG671

    30.5

    31.4

    0.9

    1,339

    1.1

    1.0

    1,403

    623

    EX21UG672

    62.2

    65.6

    3.4

    358

    4.1

    2.3

    544

    NE-1S

    including

    64.4

    64.6

    0.2

    2,862

    25.6

    7.0

    3,762

    EX21UG673

    36.3

    36.9

    0.6

    5,012

    15.8

    0.4

    5,432

    623

    EX21UG675A

    67.0

    69.1

    2.1

    412

    6.1

    5.4

    756

    NE-1S

    and

    72.6

    74.3

    1.7

    322

    4.7

    8.4

    0.2

    749

    EX21UG679

    129.6

    131.8

    2.2

    1,159

    5.6

    1.2

    1,345

    NE-1S

    EX21UG680

    33.8

    34.4

    0.6

    1,412

    9.1

    0.6

    1,666

    623

    EX21UG683

    112.7

    114.8

    2.1

    524

    4.7

    8.0

    918

    NE-1S

    EX21UG687

    45.7

    48.8

    3.1

    1,214

    8.3

    16.9

    2,009

    623

    including

    46.5

    47.7

    1.2

    2,530

    16.7

    19.3

    3,623

    EX21UG690

    88.7

    96.2

    7.5

    1,570

    10.4

    29.6

    0.1

    2,860

    623

    including

    89.3

    92.7

    3.4

    2,424

    14.0

    35.0

    3,987

    and

    102.1

    104.6

    2.5

    479

    4.6

    2.0

    667

    including

    103.1

    103.6

    0.5

    1,758

    16.5

    7.5

    2,441

    (1)

    Highlighted intervals include holes intersecting >0.5m and over 500 g/t AgEq from a total of 71 drill holes (5,142 metres).

    (2)

    From-to intervals are measured from the drill collar. All holes were drilled from underground stations.

    (3)

    All intervals are reported as core length true width is estimated to range from 50-90% of core length.

    (4)

    AgEq in drill results assumes $24.00 Ag, $0.90 Pb, $1.20 Zn and $1,800 Au with 100% metallurgical recovery.

    Drilling from underground continues to define and expand known mineralization ahead of production at the 623 and NE-1S mantos. Drilling at Platosa will continue to target areas ahead of production and test the extent of mineralization around mine workings.

    EX21UG690 is particularly noteworthy, as high-grade mineralization was intersected approximately 10 metres below historically mined mineralization at the top of the 623 Manto, approximately 80 metres above the deepest current heading at Platosa. This mineralization appears to have a sub-vertical bearing that is different from the predominantly horizontal bearing of mineralization at Platosa. Follow-up drilling to test this zone is an immediate priority of the ongoing drill campaign, with preparation underway for a more optimal drilling location.

    Technical Information and Quality Control Notes

    The drilling results contained in this news release have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101").

    Platosa drill core samples are prepared and assayed by SGS Minerals Services in Durango, Mexico. The lab is accredited to ISO/IEC 17025. Assay turnarounds have been impacted recently by supply and labour shortages related to COVID-19. The Company has a comprehensive QA/QC program, supervised by an independent Qualified Person.

    The sampling of, and assay data from, the core sampling and reporting is monitored through a quality assurance and quality control (QAQC) program designed according to best industry practice. Samples from HQ sized drill core are selected by Excellon geologists and cut into halves at the project site. Half of the core is retained at the site for reference purposes. Sample intervals vary from 0.3 to 1.5 metres in length with samples being selected to honour geological contacts. Samples are labeled and packed into sealed plastic bags which are grouped into larger fiber bags for shipping. A formal chain-of-custody procedure is in place for security of samples from project to laboratory.

    Samples are shipped to SGS Laboratories in Durango City. Samples then undergo crushing to two millimetres followed by pulverizing to homogenize samples before a 50-gram sub sample is selected for analysis. The samples are then analyzed using fire assay for gold and silver with a gravimetric finish and multi-element analysis performed by ICP analysis for base metals and multi-element data.

    Qualified Person

    Mr. Ben Pullinger, P.Geo., Senior Vice President Geology & Corporate Development, has acted as the Qualified Person, as defined in NI 43-101, with respect to the disclosure of the scientific and technical information contained in this press release.

    About Excellon

    Excellon's vision is to create wealth by realizing strategic opportunities through discipline and innovation for the benefit of our employees, communities and shareholders. The Company is advancing a precious metals growth pipeline that includes: Platosa, Mexico's highest-grade silver mine since production commenced in 2005; Kilgore, a high-quality advanced exploration gold project in Idaho with strong economics and significant growth and discovery potential; and an option on Silver City, a high-grade epithermal silver district in Saxony, Germany with 750 years of mining history and no modern exploration. The Company also aims to continue capitalizing on current market conditions by acquiring undervalued projects.

    Additional details on Excellon's properties are available at www.excellonresources.com.

    Forward-Looking Statements

    The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this Press Release, which has been prepared by management. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 27E of the Exchange Act. Such statements include, without limitation, statements regarding mineral resources estimates, the future results of operations, performance and achievements of the Company, including potential property acquisitions, the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/reserves, geological interpretations, proposed production rates, potential mineral recovery processes and rates, business and financing plans, business trends and future operating revenues. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, significant downward variations in the market price of any minerals produced, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials. This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.

    Cautionary Note to U.S. Investors: The terms "mineral resource," "measured mineral resource," "indicated mineral resource" and "inferred mineral resource," as used on Excellon's website and in its press releases are Canadian mining terms that are defined in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"). These Canadian terms are not defined terms under United States Securities and Exchange Commission ("SEC") Industry Guide 7 and are normally not permitted to be used in reports and registration statements filed with the SEC by U.S. registered companies. The SEC permits U.S. companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. Accordingly, note that information describing the Company's "mineral resources" is not directly comparable to information made public by U.S. companies subject to reporting requirements under U.S. securities laws. U.S. investors are urged to consider closely the disclosure in the Company's Form 40-F which may be secured from the Company, or online at http://www.sec.gov/edgar.shtml.

    PLATOSA MINE - UG Infill and Expansion Drilling (CNW Group/Excellon Resources Inc.)PLATOSA MINE - UG Infill and Expansion Drilling (CNW Group/Excellon Resources Inc.)
    PLATOSA MINE – UG Infill and Expansion Drilling (CNW Group/Excellon Resources Inc.)

    SOURCE Excellon Resources Inc.

    CisionCision
    Cision

    View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2021/05/c6356.html

    Fortuna Silver Mines Inc. FSM recently announced that its board of directors has provided a go-ahead for the construction of an open pit mine at the Séguéla gold project in Côte d’Ivoire. This will be the company’s fifth operating mine with first gold expected by mid-2023. It is anticipated to produce around 120,000 ounces of gold per year.

    The Séguéla gold Project was added to Fortuna Silver’s portfolio when it completed the acquisition of Roxgold Inc. in July this year. Prior to the combination with Roxgold, Fortuna Silver had three mines — San Jose mine in Mexico, Lindero Mine in Argentina and Caylloma Mine in Peru. It now has operations in West Africa with the addition of Roxgold’s high-grade Yaramoko Gold Mine located in Burkina Faso and its advanced development project Séguéla Gold Project.

    The Séguéla Project calls for an initial capital investment of $173.5 million. Of this, $11.5 million has been approved by the board for early works items. The company intends to commence construction immediately with long lead items procured, and development teams established on the ground. The anticipated construction schedule is around 20 months.

    Concurrent with construction, the company plans to continue with well-funded drill programs to test multiple remaining targets on the Séguéla property. It is worth mentioning that over the last 12 months, the exploration team has successfully delivered gold discoveries at the Koula, Sunbird and Gabbro North prospects. Overall, the mine is expected to produce 1,028,000 ounces of gold through its expected life of around nine years. In the initial six years, the projected gold output is expected at 130,000 ounces.

    The combination of Fortuna Silver and Roxgold resulted in a low-cost intermediate gold and silver producer with four operating mines in Americas and West Africa — two of the world’s fastest growing precious metals producing regions. The combined company has a projected annual gold equivalent production profile of approximately 450,000 ounces, which is expected to increase further once the Séguéla comes online. Roxgold’s Yaramoko and Séguéla are low-cost assets with low technical complexity, which will drive meaningful growth, while reducing overall costs. Fortuna Silver’s All-In Sustaining Cost is projected at approximately $950 per gold equivalent ounce, lower than nearest peers.

    A strong balance sheet will enable the company to pursue other organic and external growth opportunities. The combined company will have a projected EBITDA of around $487 million in 2021 and free cash flow of $211 million. Over the 2021-2023 period, the company is expected to generate pro forma average annual EBITDA of more than $500 million. Silver will continue to be a meaningful contributor to revenues.

    Price Performance

    Zacks Investment ResearchZacks Investment Research
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    Shares of the company have fallen 40.2% over the past year compared with the industry’s decline of 22.4%.

    Zacks Rank & Stocks to Consider

    Fortuna Silver currently carries a Zacks Rank #3 (Hold).

    Some better-ranked stocks in the basic materials space include Veritiv Corporation VRTV, Nucor Corporation NUE and Teck Resources Ltd. TECK. All of these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

    Veritiv has a projected earnings growth rate of 214.9% for the current year. The company’s shares have surged a whopping 542% in a year.

    Nucor has a projected earnings growth rate of roughly 534.4% for the current year. The company’s shares have rallied 107% in a year.

    Teck Resources has a projected earnings growth rate of 305.3% for the current year. The company’s shares have appreciated 81% in a year.

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

    Fortuna Silver Mines Inc. (FSM) : Free Stock Analysis Report

    Nucor Corporation (NUE) : Free Stock Analysis Report

    Veritiv Corporation (VRTV) : Free Stock Analysis Report

    Teck Resources Ltd (TECK) : Free Stock Analysis Report

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

    VANCOUVER, British Columbia, Oct. 04, 2021 (GLOBE NEWSWIRE) — Sabina Gold & Silver Corp (the “Company”) (SBB – TSX/SGSVF – OTCQX) is pleased to announce that it has closed the previously announced private placement (the “Offering”) of 7,200,822 flow-through common shares of the Company (the “FT Shares”) which were sold at a price of $1.87 per FT Share to raise gross proceeds of $13,465,576.

    An amount equal to the gross proceeds from the issuance of the FT Shares will be used for Canadian exploration expenses (“CEE”) that will qualify as “flow through mining expenditures”, as defined in subsection 127(9) of the Income Tax Act (Canada) (the “Qualifying Expenditures”), and which will be renounced with an effective date no later than December 31, 2021 to the subscribers of the FT Shares in an aggregate amount not less than the gross proceeds raised from the issue of the FT Shares. The total gross proceeds from the Offering must be used to incur CEE by December 31, 2022.

    The FT Shares issued under the Offering are subject to a hold period of four months and one day from the date hereof in accordance with applicable Canadian Securities laws.

    Additionally, pursuant to the Shareholder Agreement between the Company and Zhaojin International Mining Co., Ltd., Zhaojin elected to maintain its 9.9% holdings in Sabina wherein it will purchase, by private placement, 892,903 Common Shares of the Company at C$1.50 per Common Share for gross proceeds of approximately $1.3 million. The Zhaojin private placement is expected to close on or about October 8, 2021. Sabina acknowledges and appreciates Zhaojin’s continued support since becoming a shareholder in 2017.

    SABINA GOLD & SILVER CORP

    Sabina Gold & Silver Corp. is well-financed and is an emerging precious metals company with district scale, advanced, high grade gold assets in Nunavut, Canada.

    Sabina recently filed an Updated Feasibility Study (the “UFS”) on its 100% owned Back River Gold Project which presents a project that will produce ~223,000 ounces of gold a year (first five years average of 287,000 ounces a year with peak production of 312,000 ounces in year three) for ~15 years with a rapid payback of 2.3 years, with a post-tax IRR of ~28% and NPV5% of C$1.1B. See “National Instrument (NI) 43-101 Technical Report – 2021 Updated Feasibility Study for the Goose Project at the Back River Gold District, Nunavut, Canada” dated March 3, 2021.

    The Project received its final major authorization on June 25, 2020 and is now in receipt of all major permits and authorizations for construction and operations.

    In addition to Back River, Sabina also owns a significant silver royalty on Glencore’s Hackett River Project. The silver royalty on Hackett River’s silver production is comprised of 22.5% of the first 190 million ounces produced and 12.5% of all silver produced thereafter.

    For further information please contact:

    Nicole Hoeller, Vice-President, Communications:

    1 888 648-4218
    nhoeller@sabinagoldsilver.com

    1800-555 Burrard Street, Two Bentall Centre
    Vancouver, BC V7X 1M9
    Tel 604 998-4175 Fax 604 998-1051
    http://www.sabinagoldsilver.com

    This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

    Figure 1

    Outcrop of opalized sediments and silica sinter at the Big Opal target area, Midas North Project, Nevada.Outcrop of opalized sediments and silica sinter at the Big Opal target area, Midas North Project, Nevada.
    Outcrop of opalized sediments and silica sinter at the Big Opal target area, Midas North Project, Nevada.
    Outcrop of opalized sediments and silica sinter at the Big Opal target area, Midas North Project, Nevada.

    Figure 2

    Location of Midas North Project and other Headwater Gold Nevada projects.Location of Midas North Project and other Headwater Gold Nevada projects.
    Location of Midas North Project and other Headwater Gold Nevada projects.
    Location of Midas North Project and other Headwater Gold Nevada projects.

    Figure 3

    Midas North land position, showing the principal high-level epithermal target areas in the Midas district. Hecla’s recent Green Racer discovery occurs in an analogous structural and stratigraphic setting to Midas North, with similar high-level epithermal alteration features present at the surface.Midas North land position, showing the principal high-level epithermal target areas in the Midas district. Hecla’s recent Green Racer discovery occurs in an analogous structural and stratigraphic setting to Midas North, with similar high-level epithermal alteration features present at the surface.
    Midas North land position, showing the principal high-level epithermal target areas in the Midas district. Hecla’s recent Green Racer discovery occurs in an analogous structural and stratigraphic setting to Midas North, with similar high-level epithermal alteration features present at the surface.
    Midas North land position, showing the principal high-level epithermal target areas in the Midas district. Hecla’s recent Green Racer discovery occurs in an analogous structural and stratigraphic setting to Midas North, with similar high-level epithermal alteration features present at the surface.

    Figure 4

    Headwater’s Midas North property map, showing the location of the principal target areas with rock and stream sediment sample mercury geochemistry.Headwater’s Midas North property map, showing the location of the principal target areas with rock and stream sediment sample mercury geochemistry.
    Headwater’s Midas North property map, showing the location of the principal target areas with rock and stream sediment sample mercury geochemistry.
    Headwater’s Midas North property map, showing the location of the principal target areas with rock and stream sediment sample mercury geochemistry.

    Figure 5

    Interpreted fossilized geyser vent within the Big Opal sinter zone. Note the silica mound surrounding the vent throat as well as the desiccation cracks on the vent walls.Interpreted fossilized geyser vent within the Big Opal sinter zone. Note the silica mound surrounding the vent throat as well as the desiccation cracks on the vent walls.
    Interpreted fossilized geyser vent within the Big Opal sinter zone. Note the silica mound surrounding the vent throat as well as the desiccation cracks on the vent walls.
    Interpreted fossilized geyser vent within the Big Opal sinter zone. Note the silica mound surrounding the vent throat as well as the desiccation cracks on the vent walls.

    VANCOUVER, British Columbia, Oct. 04, 2021 (GLOBE NEWSWIRE) — Headwater Gold Inc. (CSE: HWG) (OTCQB: HWAUF) (the "Company" or "Headwater") is pleased to announce the Company has acquired the Midas North gold-silver project (the “Project” or “Property”) in northern Nevada through claim staking.

    Summary Highlights:

    • Company has acquired a 100% interest in a large, undrilled epithermal alteration cell immediately north of and adjoining Hecla Mining Company’s (“Hecla”) (NYSE: HL) Midas mine;

    • Widespread sinter, water table silica, and clay alteration infers a fully preserved epithermal system is present;

    • Analogous geologic setting to Hecla’s Midas mine and the recent Green Racer Sinter vein discovery, where gold grades of 111.8 grams per tonne (“g/t”) and silver grades of 490 g/t Ag were intercepted over a drilled thickness of 1.4 metres (see Hecla news release dated February 18, 2021) (1);

    • Widespread areas of highly anomalous mercury geochemistry, which is one of the key pathfinder elements for epithermal vein exploration; and

    • The Project was acquired through the staking of 199 unpatented claims on open Bureau of Land Management (“BLM”) land and is 100% owned and royalty-free.

    Figure 1: Outcrop of opalized sediments and silica sinter at the Big Opal target area, Midas North Project, Nevada.
    https://www.globenewswire.com/NewsRoom/AttachmentNg/58c732ff-f04c-4892-bdb5-da55ebb2eccb

    Caleb Stroup, Headwater’s President and CEO, commented: “It is very rare to have the opportunity to stake such a large, untested epithermal alteration cell in a prolific high-grade Nevada mining district. The Midas mine complex immediately to the south serves as clear geologic analog, with over two million ounces of gold and over 25 million ounces of silver historically produced from high-grade epithermal veins at Midas between 1998 and 2019(1, 2) by operators such as Franco-Nevada, Newmont and Hecla. The Midas North project has all the components we look for when targeting large, blind, high-grade epithermal veins. Hecla’s impressive Green Racer Sinter discovery announced earlier this year demonstrates that, despite a long history of mining, this district remains highly prospective and under-explored.”

    Figure 2: Location of Midas North Project and other Headwater Gold Nevada projects.
    https://www.globenewswire.com/NewsRoom/AttachmentNg/3ebf2519-1e5c-4440-83b7-2250616524b5

    About the Midas District:

    The Midas North project is located in the Midas District of northern Nevada, approximately 100 kilometres north of the town of Winnemucca and directly adjoins Hecla Mining’s Midas mine complex. In 1994 an array of high-grade banded epithermal veins were discovered and historic production from the Midas mine was initiated by Franco-Nevada Corporation in 1998, with historic reserves of 2.46 million tonnes at a grade of 38.2 g/t Au(1),(2). Mining continued until 2019 when Hecla elected to temporarily halt production as a result of decreasing head grade. Existing infrastructure at the Midas mine includes a 1,200 ton per day mill, several production water wells, high voltage power, and a fleet of underground mining equipment.

    Mineralization in the Midas area is related to mid-Miocene bimodal volcanism associated with the Northern Nevada Rift and is analogous to high-grade low-sulfidation epithermal veins in Northern Nevada including Sleeper, Fire Creek, and Hollister. Gold and silver mineralization in the Midas district typically occurs in sub-vertical banded low-sulfidation epithermal vein arrays, the most significant being the Colorado Grande vein in the central Midas mine area.

    In February 2021, Hecla announced the discovery of a new high-grade vein system in a previously undrilled area, approximately 3 km southeast of the main mine area. This new discovery is reported to occur beneath a mapped exposure of geyserite sinter which was correctly identified as a surface venting feature of an epithermal vein system. This discovery highlights the potential for future exploration in the greater Midas district, targeting blind veins beneath widespread high-level epithermal alteration.

    Figure 3: Midas North land position, showing the principal high-level epithermal target areas in the Midas district. Hecla’s recent Green Racer discovery occurs in an analogous structural and stratigraphic setting to Midas North, with similar high-level epithermal alteration features present at surface.
    https://www.globenewswire.com/NewsRoom/AttachmentNg/b5e4476a-03ed-4f07-8765-bd2fdbd3a817

    About the Midas North Project:

    Headwater’s Midas North project area covers a large hydrothermal alteration cell, extending at least 4 kilometres in strike and 1 kilometre in width, which is interpreted by Headwater geologists as representing the high-level manifestations of an epithermal precious metal system. This system occurs approximately 10 kilometres along strike north of the Midas mine. The Headwater Project consists of 199 unpatented mining claims on BLM land and covers approximately 1,530 hectares.

    Figure 4: Headwater’s Midas North property map, showing the location of the principal target areas with rock and stream sediment sample mercury geochemistry.
    https://www.globenewswire.com/NewsRoom/AttachmentNg/f1858a7c-f03c-4881-8124-36804b1ed5b9

    Two priority target areas have been identified by Headwater geologists in the field: the Nevada Grande target and Big Opal target areas (Figure 4), both of which exhibit widespread high-level chalcedonic to opaline silica flooding, clay alteration, and local sinter formation. The Nevada Grande target area consists of a ridge forming, linear zone of chalcedonic and opaline silicification over an approximately 1 km strike extent, interpreted to be the high-level manifestations of a potential epithermal feeder structure. The Big Opal target area consists of a widespread zone of sub-horizontal opaline and chalcedonic silica flooding, with localized occurrences of interpreted near-vent sinter facies, such as fossilized geyser vents (Figure 5). To date, 90 rock chip samples and 54 stream sediment samples have been collected by the Company from the Project area. This limited initial sampling as already highlighted several priority areas of anomalous precious metal values, with highly anomalous values of important epithermal pathfinder elements, such as mercury.

    The Project area has seen very limited historic exploration. Although the Project was reportedly staked by Newmont Corporation in the past, Headwater is not aware of any historic exploration drilling on the property. Headwater geologists are currently planning an expanded multi-disciplinary surface exploration program which will be carried out in late 2021 and into 2022 with a goal of identifying additional high-priority drill targets. This program is expected to include detailed geologic mapping, rock chip sampling, systematic soil sampling, airborne magnetics, airborne radiometrics, and ground based resistivity profiles.

    Figure 5: Interpreted fossilized geyser vent within the Big Opal sinter zone. Note the silica mound surrounding the vent throat as well as the desiccation cracks on the vent walls.
    https://www.globenewswire.com/NewsRoom/AttachmentNg/c1aad06b-e571-49d0-9b93-9be2b56d2329

    Update on Other Exploration Activities:

    Spring Peak Project

    Assays from five holes are pending from the Spring Peak drill program, which was completed earlier this month (see news release dated September 15, 2021). The Company expects assay results some time during the second half of October.

    Highland Project

    The Company has received assay results from the Highland drill program which was completed in early August (see news release dated August 10, 2021). No significant high-grade vein intercepts were encountered in the initial seven-hole program. The Company believes the high-priority targets in the district have been adequately tested and the underlying property owner has been notified of Headwater’s intention to terminate its option agreement. The decision to terminate the option is in-line with the Company’s disciplined exploration strategy of pursuing high-impact discoveries by testing high-quality targets as quickly and cost-effectively as possible.

    Mahogany and Katey Projects

    Federal and state drill permits have been received for the Company’s 100% owned Katey and Mahogany Projects in eastern Oregon. A Boart Longyear diamond drill rig is scheduled to mobilize to the Mahogany Project in mid-October, where the focus will be testing multiple vein targets along the Main Ridge Fault zone, which locally contains high-grade gold values in surface sampling, up to 170 g/t Au. Following the conclusion of drilling at Mahogany, the rig is scheduled to move to the Katey Project.

    Sample Quality Control:

    Drilling at Highland was conducted by Boart Longyear using a wheel-mounted reverse circulation drill rig. The drill chips were logged on site and at Company offices in Reno, Nevada. Drilling totalled 2,097 metres, and 1,376 original samples were collected. Samples were transported from site to American Assay Laboratories (“AAL”), located in Sparks, Nevada by American Assay personnel. Prior to dispatch, samples were placed in numbered bags with regular insertion of blind internationally certified reference materials, blanks, or a sample duplicate. American Assay Laboratories are an accredited analytical laboratory meeting ISO/IEC 17025:2017 and AC89 IAS requirements. Samples were prepared by standard AAL crushing and grinding methods. The pulps were then assayed for 21 elements via AAL method ICP-2AM21 using a 0.5 g sample after a two acid near total digest with an ICP-OES/MS finish. Gold was assayed by fire assay using AAL method FA-Pb30 using a 30g sample charge and ICP-OES finish. Laboratory standards and QA-QC are monitored by the Company.

    About Headwater Gold:

    Headwater Gold Inc. is a technically-driven mineral exploration company focused on exploring for high-grade precious metal deposits in the Western USA. Headwater is aggressively exploring one of the most well-endowed and mining-friendly jurisdictions in the world with a goal of making world-class precious metal discoveries. Headwater has a large portfolio of epithermal vein exploration projects, and a technical team composed of experienced geologists with diverse capital markets, junior company, and major mining company experience. The Company is systematically drill testing several of its 100% owned projects in Nevada, Idaho, and Oregon.

    For more information, please visit the Company's website at www.headwatergold.com.

    On Behalf of the Board of Directors

    "Caleb Stroup"
    President & CEO

    For further information, please contact:

    Brennan Zerb
    Investor Relations Manager
    +1 (778) 867-5016
    bzerb@headwatergold.com

    Qualified Person
    The technical information contained in this news release has been reviewed and approved by Mr. Derrick Strickland, P.Geo. (1000315), a “Qualified Person” (“QP”) as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

    1. The Qualified Person has been unable to verify the information on the adjacent properties. Mineralization hosted on adjacent and/or nearby and/or geologically similar properties is not necessarily indicative of mineralization hosted on the Company's properties. Historical resource estimates are treated by the Company as historical in nature, and not current.

    2. Goldstrand, P.M., and Schmidt, K.W., 2000, Geology, mineralization, and ore controls at the Ken Snyder gold-silver mine, Elko County, Nevada, in Cluer, J.K., Price, J.G., Struhsacker, E.M., Hardyman, R.F., and Morris, C.L., eds., Geology and Ore Deposits 2000: The Great Basin and Beyond: Geological Society of Nevada Symposium Proceedings, May 15-18, 2000, p. 265-287.

    Forward-Looking Statements:
    This news release includes certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding future capital expenditures, anticipated content, commencement, and cost of exploration programs in respect of the Company's projects and mineral properties, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as "pro forma", "plans", "expects", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, statements as to the anticipated business plans and timing of future activities of the Company, including the Company's exploration plans. the proposed expenditures for exploration work thereon, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals (including of the Canadian Securities Exchange), permits or financing, changes in laws, regulations and policies affecting mining operations, the Company's limited operating history, currency fluctuations, title disputes or claims, environmental issues and liabilities, as well as those factors discussed under the heading "Risk Factors" in the Company's prospectus dated May 26, 2021 and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company's profile on the SEDAR website at www.sedar.com.

    Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements, except as otherwise required by law.

    TORONTO, Oct. 01, 2021 (GLOBE NEWSWIRE) — Red Pine Exploration Inc. (TSX-V: RPX) (“Red Pine” or the “Company”) announces that its Board of Directors has granted an aggregate 100,000 stock options to Rachel Goldman, a recently appointed director of the Company. Each stock option is exercisable into one common share of the Company at a price of $0.61 CAD per common share, with vesting over 36 months, and exercisable for a period of five years from the date of grant. The options are granted pursuant to the Company’s Stock Option Plan and will be subject to applicable regulatory hold periods.

    About Red Pine Exploration Inc.

    Red Pine Exploration Inc. is a gold exploration company headquartered in Toronto, Ontario, Canada. The Company's common shares trade on the TSX Venture Exchange under the symbol "RPX".

    The Wawa Gold Project is in the Michipicoten greenstone belt of Ontario, a region that has seen major investment by several producers in the last five years. Its land package hosts numerous historic gold mines and is over 6,800 hectares in size. The Company’s Chairman of the Board is Paul Martin, the former CEO of Detour Gold. The Board has extensive and diverse experience at such entities as Alamos, Barrick, Generation Mining, Detour Gold, in addition to recently appointed Rachel Goldman who holds capital markets expertise and is currently the Chief Executive Officer at Paramount Gold Nevada Corp. Led by Quentin Yarie, CEO, who has over 25 years of experience in mineral exploration, Red Pine is strengthening its position as a major mineral exploration and development player in the Michipicoten region.

    For more information about the Company, visit www.redpineexp.com

    Or contact:

    Quentin Yarie, President and CEO, (416) 364-7024, qyarie@redpineexp.com

    Or

    Tara Asfour, Investor Relations Manager, (514) 833-1957 tasfour@redpineexp.com

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

    This News Release contains forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

    Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

    VANCOUVER, BC / ACCESSWIRE / October 1, 2021 / CMC Metals Ltd. (TSXV:CMB)(FSE:ZM5N)(OTC PINK:CMCZF); (the "Company") is pleased to announce that it has adopted an advance notice policy (the "Advance Notice Policy"), establishing a framework for advance notice of nominations of directors by shareholders of the Company.

    The Advance Notice Policy, among other things, seeks to fix a deadline by which holders of record of common shares of the Company must submit director nominations to the Company prior to any annual or certain special meetings of shareholders and sets forth the information required to be provided by a nominee director that a shareholder must include in the notice to the Company for the notice to be in proper written form.

    The Advance Notice Policy is intended to, among other things: (i) facilitate an orderly and efficient Annual General or Special Meeting process; (ii) ensure that shareholders receive adequate notice of director nominations and sufficient information regarding all director nominations; and (iii) allow shareholders to cast an informed vote after having been afforded reasonable time for consideration.

    The following notice requirements will apply for all Annual General or Special Meetings of shareholders of the Company:

    • In the case of an annual meeting of shareholders, notice of a director nomination must be given to the Company not less than 30 nor more than 65 days prior to the date of the annual meeting of shareholders; provided, however, that in the event that the annual meeting of shareholders is called for a date that is less than 50 days after the date (the "Notice Date") on which the first public announcement of the date of the annual meeting was made, notice by the nominating shareholder may be made not later than the tenth (10th) day following the Notice Date.

    • In the case of a special meeting of shareholders (which is not also an annual meeting) called for the purpose of electing directors (whether or not called for other purposes), notice of a director nomination must be given to the Company no later than the fifteenth (15th) day following the day on which the first public announcement of the date of the special meeting of shareholders was made.

    • The Advance Notice Policy is effective immediately and will be placed before shareholders for ratification and approval at the Company's next annual general and special meeting of shareholders (scheduled for December 7, 2021). In the event that shareholders determine not to ratify the Advance Notice Policy by ordinary resolution, the Advance Notice Policy shall terminate and be void and of no further force and effect following the termination of the Meeting.

    A copy of the Advance Notice Policy, in its entirety, is available under the Company's profile at www.sedar.com and included in www.cmcmetals.ca.

    About CMC Metals.

    CMC Metals Ltd. is a growth stage mineral exploration company focused on opportunities in Yukon, British Columbia and Newfoundland. Our silver-lead-zinc projects include Silver Hart, Blue Heaven and the Rancheria South Properties (Rancheria South, Silverknife and Amy). Our polymetallic projects with gold potential include Logjam, Bridal Veil and Terra Nova.

    On behalf of the Board:

    John Bossio

    John Bossio,
    Chairman CMC METALS LTD.

    For Further Information and Investor Inquiries:

    Kevin Brewer, P. Geo., MBA, B.Sc Hons, Dip. Eng
    President, CEO and Director
    Tel: (604) 670 0019
    kbrewer80@hotmail.com
    Suite 110-175 Victory Ship Way
    North Vancouver, BC
    V7L 0B2

    To be added to CMC's news distribution list, please send an email to info@cmcmetals.ca. Also please visit our website at www.cmcmetals.ca for more up-to-date news and information on our projects.

    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 certain statements that constitute "forward-looking information" within the meaning of applicable securities law, including without limitation, statements that address the timing and content of upcoming work programs, geological interpretations, receipt of property titles and exploitation activities and developments. In this release disclosure regarding the potential to undertake future work comprise forward looking statements. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks, including the ability of the Company to raise the funds necessary to fund its projects and, accordingly, may not occur as described herein or at all. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Readers are referred to the Company's filings with the Canadian securities regulators for information on these and other risk factors, available at www.sedar.com. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation."

    SOURCE: CMC Metals Ltd.

    View source version on accesswire.com:
    https://www.accesswire.com/666369/CMC-Metals-Ltd-Adopts-Advanced-Notice-Policy

    DENVER, CO / ACCESSWIRE / October 1, 2021 / Gold Resource Corporation (NYSE American:GORO) (the "Company") will issue a news release providing a summary of its financial and operating results for the third quarter ended September 30, 2021 on Wednesday, October 27, 2021 after the market close, file its 10Q with the financial and operating results for the period ended September 30, 2021 with EDGAR and host a conference call on Thursday, October 28, 2021 at 11:00 a.m. Eastern Time.

    The conference call will be recorded and posted to the Company's website later in the day following the conclusion of the call. Following prepared remarks, Allen Palmiere, President and Chief Executive Officer, Kim Perry, Chief Financial Officer and Alberto Reyes, Chief Operating Officer will host a live question and answer (Q&A) session. There are two ways to join the conference call.

    To join the conference via webcast, please click on the following link:

    https://www.webcaster4.com/Webcast/Page/2361/43124.

    To join the call via telephone please use one of the following dial-in details:

    Participant Toll Free: 888-506-0062
    International: 973-528-0011
    Entry Code: 552947

    Please connect to the conference call at least 10 minutes prior to the start time using one of the connection options listed above.

    About GRC:

    Gold Resource Corporation is a gold and silver producer, developer, and explorer with its operations centered on the Don David Gold Mine in Oaxaca, Mexico. Under the direction of a new board and senior leadership, the Company focus is to unlock the significant upside potential of its existing infrastructure and large land position surrounding the mine, to close our acquisition of Aquila Resources Inc., and to develop the Back Forty Project in Michigan, USA. For more information, please visit GRC's website, located at www.goldresourcecorp.com and read the Company's 10-K for an understanding of the risk factors involved.

    Contacts:

    Ann Wilkinson
    Vice President, Investor Relations and Corporate Affairs
    Ann.Wilkinson@GRC-USA.com
    www.GoldResourcecorp.com

    SOURCE: Gold Resource Corporation

    View source version on accesswire.com:
    https://www.accesswire.com/666381/Gold-Resource-Corporation-to-Hold-Q3-2021-Conference-Call-on-October-28-2021

    Lundin Mining Corporation logo (CNW Group/Lundin Mining Corporation)
    Lundin Mining Corporation logo (CNW Group/Lundin Mining Corporation)

    TORONTO, Sept. 30, 2021 /CNW/ – (TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") reports the following updated share capital and voting rights, in accordance with the Swedish Financial Instruments Trading Act:

    The number of issued and outstanding shares of the Company has decreased by 921,491 to 735,475,804 common shares with voting rights as at September 30, 2021. The decrease in the number of issued and outstanding shares from September 1, 2021 to date is a result of the Company purchasing share under the existing normal course issuer bid (the "NCIB"), partially offset by the exercise of employee stock options or the vesting of employee share units. All shares purchased under the NCIB were cancelled.

    About Lundin Mining

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

    The information in this release is subject to the disclosure requirements of Lundin Mining under the Swedish Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact persons set out below on September 30, 2021 at 17:00 Eastern Time.

    Lundin Mining Announces Updated Share Capital and Voting Rights (CNW Group/Lundin Mining Corporation)Lundin Mining Announces Updated Share Capital and Voting Rights (CNW Group/Lundin Mining Corporation)
    Lundin Mining Announces Updated Share Capital and Voting Rights (CNW Group/Lundin Mining Corporation)

    SOURCE Lundin Mining Corporation

    CisionCision
    Cision

    View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2021/30/c2285.html

    TSX: SVM
    NYSE American: SVM

    VANCOUVER, BC, Sept. 30, 2021 /PRNewswire/ – Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) is pleased to report on innovative water treatment initiatives undertaken at the Company's mines. Silvercorp strives to create "Green Mines" and pursue sustainable development initiatives throughout the mining lifecycle by integrating efficient technology and innovative systems into mine planning and ESG management practices, including in the area of water usage, a key topic for the mining industry. Silvercorp recycles and integrates treated water from its mines for use in its processing plants, dust suppression, landscaping, agriculture, and irrigation, to meet its goal of reducing freshwater consumption.

    Upgraded Water Treatment Plant – SGX Mine at the Ying Mining District

    Prior to the SGX Water Treatment Plant upgrade, wastewater from the SGX and HPG mines was treated with a series of precipitation ponds and manual clean up. The treated water was then transported via a 16.5 km long pipeline to the Company's central processing mill to be used in ore processing.

    In November 2020, Silvercorp worked with Henan University of Science and Technology (HAUST) to implement an innovative technology to treat water from underground mines, with an investment of approximately US$0.5 million. The water treatment plant was completed in May 2021 – please see Figure 1 below. The new plant is operated through an automated control system, including a reagent mixing tank, thickening tank, precipitated materials dewatering device, and other more efficient facilities (see Figures 2 & 3) for solid waste material collection and handling. The water after treatment surpasses the standard limits as required by the Chinese national environmental law on prevention and control of water pollution, protecting surface water quality and human health, and maintaining a sound ecosystem under the Environmental Quality Standards for Surface Water (GB3838-2002).

    The treated water pumped though the 16.5 km pipeline is not only used for ore processing in the mill, it can now also be used for irrigation via a newly constructed pipeline system for local farmers. The dewatered solid wastes are shipped to the mill to recover useful metals, further showing Silvercorp's firm commitment to sustainable development practices and the reduction of waste generation.

    Figure 1. SGX Water Treatment Plant (CNW Group/Silvercorp Metals Inc)Figure 1. SGX Water Treatment Plant (CNW Group/Silvercorp Metals Inc)
    Figure 1. SGX Water Treatment Plant (CNW Group/Silvercorp Metals Inc)
    Figure 2. Mixing Tank with Reagent Addition (CNW Group/Silvercorp Metals Inc)Figure 2. Mixing Tank with Reagent Addition (CNW Group/Silvercorp Metals Inc)
    Figure 2. Mixing Tank with Reagent Addition (CNW Group/Silvercorp Metals Inc)
    Figure 3. Thickening Tank for Precipitation (CNW Group/Silvercorp Metals Inc)Figure 3. Thickening Tank for Precipitation (CNW Group/Silvercorp Metals Inc)
    Figure 3. Thickening Tank for Precipitation (CNW Group/Silvercorp Metals Inc)

    About Silvercorp

    Silvercorp is a profitable Canadian mining company producing silver, lead and zinc metals in concentrates from mines in China. The Company's goal is to continuously create healthy returns to shareholders through efficient management, organic growth and the acquisition of profitable projects. Silvercorp balances profitability, social and environmental relationships, employees' wellbeing, and sustainable development. For more information, please visit our website at www.silvercorp.ca

    CAUTIONARY DISCLAIMER – FORWARD-LOOKING STATEMENTS

    Certain of the statements and information in this news release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian provincial securities laws (collectively, "forward-looking statements"). Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "is expected", "anticipates", "believes", "plans", "projects", "estimates", "assumes", "intends", "strategies", "targets", "goals", "forecasts", "objectives", "budgets", "schedules", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements. Forward-looking statements relate to, among other things: the price of silver and other metals; the accuracy of mineral resource and mineral reserve estimates at the Company's material properties; the sufficiency of the Company's capital to finance the Company's operations; estimates of the Company's revenues and capital expenditures; estimated production from the Company's mines in the Ying Mining District and the GC Mine; timing of receipt of permits and regulatory approvals; availability of funds from production to finance the Company's operations; and access to and availability of funding for future construction, use of proceeds from any financing and development of the Company's properties.

    Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, risks relating to: social and economic impacts of COVID-19; fluctuating commodity prices; calculation of resources, reserves and mineralization and precious and base metal recovery; interpretations and assumptions of mineral resource and mineral reserve estimates; exploration and development programs; feasibility and engineering reports; permits and licences; title to properties; property interests; joint venture partners; acquisition of commercially mineable mineral rights; financing; recent market events and conditions; economic factors affecting the Company; timing, estimated amount, capital and operating expenditures and economic returns of future production; integration of future acquisitions into the Company's existing operations; competition; operations and political conditions; regulatory environment in China and Canada; environmental risks; foreign exchange rate fluctuations; insurance; risks and hazards of mining operations; key personnel; conflicts of interest; dependence on management; internal control over financial reporting; and bringing actions and enforcing judgments under U.S. securities laws.

    This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. Forward-looking statements are statements about the future and are inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to in the Company's Annual Information Form for the year ended March 31, 2021 under the heading "Risk Factors". Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements.

    The Company's forward-looking statements are based on the assumptions, beliefs, expectations and opinions of management as of the date of this news release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.

    Silvercorp Metals Inc. (CNW Group/Silvercorp Metals Inc)Silvercorp Metals Inc. (CNW Group/Silvercorp Metals Inc)
    Silvercorp Metals Inc. (CNW Group/Silvercorp Metals Inc)
    CisionCision
    Cision

    View original content to download multimedia:https://www.prnewswire.com/news-releases/silvercorp-to-highlight-innovative-water-treatment-initiatives-in-upcoming-annual-sustainability-report-301389225.html

    SOURCE Silvercorp Metals Inc

    How far off is Hecla Mining Company (NYSE:HL) from its intrinsic value? Using the most recent financial data, we'll take a look at whether the stock is fairly priced by taking the forecast future cash flows of the company and discounting them back to today's value. One way to achieve this is by employing the Discounted Cash Flow (DCF) model. It may sound complicated, but actually it is quite simple!

    Remember though, that there are many ways to estimate a company's value, and a DCF is just one method. If you still have some burning questions about this type of valuation, take a look at the Simply Wall St analysis model.

    View our latest analysis for Hecla Mining

    The model

    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. To start off with, we need to estimate the next ten years of cash flows. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or 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.

    A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, and so the sum of these future cash flows is then discounted to today's value:

    10-year free cash flow (FCF) estimate

    2022

    2023

    2024

    2025

    2026

    2027

    2028

    2029

    2030

    2031

    Levered FCF ($, Millions)

    US$239.9m

    US$183.5m

    US$138.0m

    US$133.7m

    US$131.5m

    US$130.8m

    US$131.1m

    US$132.0m

    US$133.5m

    US$135.3m

    Growth Rate Estimate Source

    Analyst x6

    Analyst x2

    Analyst x1

    Est @ -3.14%

    Est @ -1.61%

    Est @ -0.54%

    Est @ 0.21%

    Est @ 0.74%

    Est @ 1.1%

    Est @ 1.36%

    Present Value ($, Millions) Discounted @ 6.9%

    US$224

    US$160

    US$113

    US$102

    US$94.0

    US$87.5

    US$82.0

    US$77.2

    US$73.0

    US$69.2

    ("Est" = FCF growth rate estimated by Simply Wall St)
    Present Value of 10-year Cash Flow (PVCF) = US$1.1b

    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 6.9%.

    Terminal Value (TV)= FCF2031 × (1 + g) ÷ (r – g) = US$135m× (1 + 2.0%) ÷ (6.9%– 2.0%) = US$2.8b

    Present Value of Terminal Value (PVTV)= TV / (1 + r)10= US$2.8b÷ ( 1 + 6.9%)10= US$1.4b

    The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is US$2.5b. In the final step we divide the equity value by the number of shares outstanding. Relative to the current share price of US$5.5, the company appears around fair value at the time of writing. Remember though, that this is just an approximate valuation, and like any complex formula – garbage in, garbage out.

    dcfdcf
    dcf

    The assumptions

    The calculation above is very dependent on two assumptions. The first is the discount rate and the other is the cash flows. If you don't agree with these result, have a go at the calculation yourself and play with the 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 Hecla Mining 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 6.9%, which is based on a levered beta of 1.137. 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.

    Next Steps:

    Valuation is only one side of the coin in terms of building your investment thesis, and it is only one of many factors that you need to assess for a company. It's not possible to obtain a foolproof valuation with a DCF model. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" For instance, if the terminal value growth rate is adjusted slightly, it can dramatically alter the overall result. For Hecla Mining, we've put together three further aspects you should look at:

    1. Risks: Take risks, for example – Hecla Mining has 2 warning signs we think you should be aware of.

    2. Future Earnings: How does HL's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart.

    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 NYSE 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. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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

    If you would like to receive our free newsletter via email, simply enter your email address below & click subscribe.

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