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Toronto, Ontario–(Newsfile Corp. – March 7, 2025) – Minnova Corp. (TSXV: MCI) (OTC Pink: AGRDF) ("Minnova" or the "Company"), would like to provide the following corporate update.

Effective March 6, 2025, the Company has dissolved (the "Dissolution") it's wholly-owned subsidiary, Minnova Renewable Energy Ltd. ("MRE"). The Company confirms that as a result of the Dissolution, its sole focus will be on the exploration and development of its PL Gold Mine, located in central Manitoba.

In connection with the Company's proposed acquisition of all of the issued and outstanding common shares (the "DUMA Shares") of DUMA Engineering (2108) Inc. ("DUMA"), the Company incorporated MRE, which was to be the sole shareholder of DUMA and would focus on biomass gasification in connection with the Company's PL Gold Mine. In connection with the proposed transaction, on or about September 30, 2022, the Company advanced the principals of DUMA $100,000 for 50% of the issued and outstanding DUMA Shares. From September 2022 through January 2023, the Company and the shareholders of DUMA were negotiating the terms of the proposed transaction, however, negotiations were terminated in January 2023 and the Company did not proceed with the proposed transaction. To date, the Company has not received evidence of the 50% of the DUMA Shares and due to the Company's current financial position, it is unable to pursue legal action. However, the Company reserves the right to seek any legal recourse. A submission by the Company to the TSX Venture Exchange (the "TSXV") was not made with respect to the $100,000 advance for the initial 50% of the issued and outstanding DUMA Shares. As such, the TSXV did not provide the Company acceptance for the proposed transaction.

Following board review of MRE and considering investment requirements and alignment with shareholder feedback, it was determined that MRE should be dissolved and no further clean energy investments will be made.

As of December 31, 2024, the Company reported a working capital deficiency of $1,641,159. Upon the reinstatement of trading of the issued and outstanding common shares (the "Common Shares") in the capital of the Company on the TSXV, the Company intents to complete a private placement to reduce its working capital deficiency. In addition, further to the Company's press release of April 29, 2024, and December 19, 2024, shareholders of the Company approved a proposed debt settlement (the "Debt Settlement") of an aggregate of 15,999,999 Common Shares at a price of $0.05 per Common Share to settle an aggregate of $800,000 of indebtedness owed to certain creditors of the Company, including the settlement of the Promissory Notes (as defined below). The Debt Settlement will significantly improve the financial position of the Company. The completion of the Debt Settlement is anticipated to occur immediately following trading reinstatement. The Debt Settlement remains subject to approval of the TSXV.

Between July 12, 2022 and August 9, 2023, the Company issued unsecured interest bearing promissory notes (the "Promissory Notes") in the aggregate of $88,500 (the "Principal Amount"), to Mr. Gorden Glenn, the President and Chief Executive Officer of the Company (the "Creditor"). The Promissory Notes are payable upon receipt of a demand notice by the holder and bear interest at an interest rate of fifteen percent (15%) per annum. The Principal Amounts were used by the Company for general working capital purposes. As of the date hereof, there is $80,700 Principal Amount outstanding, plus interest. The Company will convert the outstanding Principal Amount into Common Shares as per of the Debt Settlement.

The issuance of the Promissory Notes constitutes a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101") as the Creditor is a director and officer of the Company. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(b) of MI 61-101, as the Company is not listed on a specified market and the fair market value of the Principal Amount of the Promissory Notes does not exceed more than $2,500,000. The Company did not file a material change report more than 21 days before the issuance of the Promissory Notes as the Company wished to close on an expedited basis.

Finally, the Company confirms that it is subject to a reinstatement review by the TSXV. The review is ongoing and the Company will provide additional updates as they become available.

About Minnova Corp.

Minnova Corp. is focused on the restart of its PL Gold Mine, which included completion of a Positive Feasibility Study in 2018. The study concluded the restart of the PL Mine, at an average annual production rate of 46,493 ounces over a minimum 5-year mine life, was economically robust. Importantly the global resource remains open to expansion, as does the reserve. The PL Gold Mine benefits from a short pre-production timeline forecast at 15 months, a valid underground mining permit (Environment Act 1207E), an existing 1,000 tpd processing plant, over 7,000 meters of developed underground ramp to -135 metres depth. The project is fully road accessible and close to existing mining infrastructure in the prolific Flin Flon Greenstone Belt of Central Manitoba.

For more information please contact:

Minnova Corp.Gorden Glenn President & Chief Executive Officer

For further information, please contact Gorden Glenn at 647-985-2785 or info@minnovacorp.ca

Visit our website at www.minnovacorp.ca

Forward Looking Statements

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 contains certain "forward-looking information" within the meaning of applicable securities laws. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.

NOT FOR DISSEMINATION INTO THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/243785

Investors were disappointed with the weak earnings posted by FMC Corporation (NYSE:FMC ). However, our analysis suggests that the soft headline numbers are getting counterbalanced by some positive underlying factors.

Check out our latest analysis for FMC

NYSE:FMC Earnings and Revenue History March 7th 2025The Impact Of Unusual Items On Profit

Importantly, our data indicates that FMC's profit was reduced by US$147m, due to unusual items, over the last year. It's never great to see unusual items costing the company profits, but on the upside, things might improve sooner rather than later. When we analysed the vast majority of listed companies worldwide, we found that significant unusual items are often not repeated. And, after all, that's exactly what the accounting terminology implies. If FMC doesn't see those unusual expenses repeat, then all else being equal we'd expect its profit to increase over the coming year.

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

An Unusual Tax Situation

Just as we noted the unusual items, we must inform you that FMC received a tax benefit which contributed US$151m to the bottom line. This is meaningful because companies usually pay tax rather than receive tax benefits. The receipt of a tax benefit is obviously a good thing, on its own. However, the devil in the detail is that these kind of benefits only impact in the year they are booked, and are often one-off in nature. In the likely event the tax benefit is not repeated, we'd expect to see its statutory profit levels drop, at least in the absence of strong growth. So while we think it's great to receive a tax benefit, it does tend to imply an increased risk that the statutory profit overstates the sustainable earnings power of the business.

Our Take On FMC's Profit Performance

In the last year FMC received a tax benefit, which boosted its profit in a way that might not be much more sustainable than turning prime farmland into gas fields. Having said that, it also had a unusual item reducing its profit. Based on these factors, it's hard to tell if FMC's profits are a reasonable reflection of its underlying profitability. In light of this, if you'd like to do more analysis on the company, it's vital to be informed of the risks involved. Every company has risks, and we've spotted 4 warning signs for FMC (of which 1 is a bit unpleasant!) you should know about.

In this article we've looked at a number of factors that can impair the utility of profit numbers, as a guide to a business. But there is always more to discover if you are capable of focussing your mind on minutiae. Some people consider a high return on equity to be a good sign of a quality business. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks with high insider ownership.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Sociedad Quimica y Minera de Chile S.A. SQM logged earnings of 42 cents per share in fourth-quarter 2024, down from 71 cents per share registered in the year-ago quarter. Earnings per share also fell short of the Zacks Consensus Estimate of 52 cents.Find the latest earnings estimates and surprises on Zacks Earnings Calendar.SQM generated revenues of $1,073.8 million in the quarter, down around 18% year over year. The figure beat the Zacks Consensus Estimate of $1,010 million.

SQM’s Segment Highlights

Revenues from the Lithium and Derivatives segment fell around 33% year over year to $532 million in the reported quarter. Despite a roughly 13% increase in lithium sales volumes, the downside was caused by lower prices.The Specialty Plant Nutrients (SPN) segment generated revenues of $224.6 million, up around 0.4% year over year. This upside was driven by higher sales volumes, partly masked by lower prices.The Iodine and Derivatives segment posted revenues of $225.6 million, up around 3% from the prior year’s levels, benefiting from higher prices.Revenues from the Potassium business climbed around 30% year over year to $65.9 million on higher sales volumes.The Industrial Chemicals unit recorded sales of $17.2 million, down roughly 9% year over year. The downside was due to significantly lower sales volumes despite higher prices.

SQM’s FY24 Results

Loss (as reported) for full-year 2024 was $1.42 per share. This is in contrast with earnings of $7.05 a year ago. Sales fell around 39% year over year to roughly $4,528.8 million.

SQM’s Financials

The company’s cash and cash equivalents were $1,377.9 million at the end of 2024, up around 32% year over year. Long-term debt was $3,600.6 million, up roughly 12% from the prior year.

SQM’s Outlook

SQM expects a roughly 15% increase in sales volumes in the Lithium and Derivatives unit in 2025 compared to 2024, including sales of around 10,000 metric tons of LCE from the Mt. Holland operation. Average realized prices are projected to be lower year over year in 2025.For the SPN unit, the company expects an increase in sales volumes in 2025, in line with or slightly above the expected market growth of around 4-5%. For the Iodine and Derivatives segment, SQM expects market demand to stabilize, with market growth of roughly 2% in 2025 from the prior year. Sales volumes are forecast to remain in line with 2024 levels. SQM sees a reduction of around 50% in potassium sales volumes in 2025 due to lower production in the Salar de Atacama.The company expects capital expenditure for 2025 to be roughly $1.1 billion.

SQM Stock’s Price Performance

SQM’s shares have lost 14.7% over a year compared with the Zacks Fertilizers industry’s decline of 12.8%.

Zacks Investment Research

Image Source: Zacks Investment Research

SQM’s Zacks Rank & Other Key Picks

SQM currently carries a Zacks Rank #3 (Hold).Better-ranked stocks in the Basic Materials space are Gold Royalty Corp. GROY, Orla Mining Ltd. ORLA and i-80 Gold Corp. IAUX, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Gold Royalty is slated to release fourth-quarter results on March 19. The Zacks Consensus Estimate for GROY’s fourth-quarter is pegged at a loss of a penny per share. GROY beat the Zacks Consensus Estimate in three of the last four quarters while missing once, with the average earnings surprise being 125%. GROY has gained around 16% so far this year.Orla Mining is slated to report fourth-quarter results on March 18. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 7 cents. ORLA beat the Zacks Consensus Estimate in two of the last four quarters while missing once and meeting on the other occasion, with the average earnings surprise being 97.9%. GROY has rallied roughly 33% year to date. i-80 Gold is expected to release fourth-quarter results on March 11. IAUX's shares have rallied roughly 53% year to date.

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Sociedad Quimica y Minera S.A. (SQM) : Free Stock Analysis Report

Orla Mining Ltd. (ORLA) : Free Stock Analysis Report

Gold Royalty Corp. (GROY) : Free Stock Analysis Report

i-80 Gold Corp. (IAUX) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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Sociedad Química y Minera de Chile (NYSE:SQM) Full Year 2024 ResultsKey Financial Results

Revenue: US$4.53b (down 39% from FY 2023).
Net loss: US$404.4m (down by 120% from US$2.01b profit in FY 2023).
US$1.42 loss per share (down from US$7.05 profit in FY 2023).

NYSE:SQM Earnings and Revenue Growth March 6th 2025

All figures shown in the chart above are for the trailing 12 month (TTM) period

Sociedad Química y Minera de Chile Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) missed analyst estimates by 19%.

Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Chemicals industry in the US.

Performance of the American Chemicals industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

You should learn about the 2 warning signs we've spotted with Sociedad Química y Minera de Chile.

Full Year Revenue: Slightly exceeding USD 4.5 billion for 2024.
Gross Profit: Approximately USD 1.3 billion for 2024.
Net Income Impact: A one-time charge of approximately USD 1.1 billion due to a tax dispute.
Lithium Sales Volume: Nearly 205,000 metric tonnes for 2024, with a record high of over 58,000 metric tonnes in Q4.
Lithium Market Growth: Estimated at 25% in 2024 compared to 2023.
Expected Lithium Demand Growth: Approximately 17% for 2025.
Iodine Sales Volume: Record volumes in 2024, with expectations for similar or slightly lower levels in 2025.
Investment in 2024: Over USD 1.6 billion, with plans for USD 750 million in lithium capacity expansion in 2025.
Planned Investment in Calichi Operation: Close to USD 350 million in 2025.

Warning! GuruFocus has detected 8 Warning Signs with SQM.

Release Date: March 05, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

Sociedad Quimica Y Minera De Chile SA (NYSE:SQM) achieved record sales volumes in 2024, reaching nearly 205,000 metric tonnes of lithium.
The company reported revenues slightly exceeding USD 4.5 billion for the full year of 2024.
SQM’s iodine segment experienced strong price growth and record volumes, driven by demand recovery in X-ray contrast media applications.
The company plans to invest approximately USD 750 million in lithium capacity expansion in 2025, indicating a strong commitment to growth.
SQM maintains a strong financial position, allowing flexibility to seize new opportunities and support significant investments.

Negative Points

Net income for 2024 was impacted by a one-time charge of approximately USD 1.1 billion due to a tax dispute.
There was a decline in lithium prices quarter over quarter in 2024, although this trend softened in the fourth quarter.
Production of potash is expected to decrease by 50% in 2025 as the company focuses more on lithium production.
The company may face a funding gap for capital requirements due to current lithium prices, potentially requiring capital raising.
Iodine cash costs increased in the fourth quarter of 2024, with expectations of similar costs in 2025 due to maximum production efforts.

Q & A Highlights

Q: Your guidance indicates a 50% reduction in potash production this year. Is this due to growth in SPN and more efficient production at the Salar? Could you become a net buyer of potash in the future? A: Carlos Diaz Ortiz, General Manager Lithium Potassium Division: We have been producing less potash because our focus has shifted to lithium production. The production of potash is directly correlated with brine extraction, which has decreased as we prioritize lithium. This affects potash sales, primarily used for conversion to potassium nitrate.

Q: Given current lithium prices, will you need to raise capital to meet your capital requirements over the next few years? A: Gerardo Illanes, Chief Financial Officer: We have a strong balance sheet that supports our CapEx needs. While we are not planning to raise capital at this moment, we are monitoring the situation closely. In the past, we have adjusted our dividend policy or raised capital when necessary to maintain financial strength.

Q: Is there any possibility of spinning off the iodine business as a separate company? A: Gerardo Illanes, Chief Financial Officer: Iodine is a key component of our portfolio, and we are not planning to spin it off. We are focusing on expanding capacity and leveraging our strong market position in iodine, similar to our strategy in lithium.

Q: Can you elaborate on your optimism about lithium demand despite stable prices? A: Pablo Hernandez, Vice President, Strategy and Development: We expect lithium demand to grow by about 20% in 2025, driven by EV sales and energy storage systems. While supply is also increasing, the expected demand growth supports our optimistic outlook.

Q: Are you underproducing lithium, and can you increase production if demand improves? A: Carlos Diaz Ortiz, General Manager Lithium Potassium Division: We aim to produce as much as possible, with a target of 230,000 metric tonnes this year. We have been expanding capacity and are prepared to increase production if demand warrants it.

Q: What are the next steps for the Codelco JV, and when do you expect it to commence operations? A: Gerardo Illanes, Chief Financial Officer: We are working with Codelco and Corfo to meet the conditions for the joint venture, which we expect to be fulfilled in the second half of this year. The process involves significant coordination and takes time.

Q: Can you provide more details on your 2025 CapEx estimates and maintenance CapEx? A: Gerardo Illanes, Chief Financial Officer: For 2025, we estimate a total CapEx of $1.1 billion, with $550 million for lithium operations in Chile, $200 million abroad, and $350 million for Caliche operations. Maintenance CapEx is around $250 million to $280 million annually.

Q: Why did you achieve such high lithium volumes in the fourth quarter, and is there any stockpiling in China? A: Felipe Smith, Commercial Vice President: China accounted for 80% of our sales in 2024, reflecting strong demand. We do not see any unusual stockpiling or price speculation; the demand is genuine, and we maintain reasonable inventories to support growth.

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

This article first appeared on GuruFocus.

We recently compiled a list of the 10 Worst Farmland and Agriculture Stocks to Buy According to Short Sellers. In this article, we are going to take a look at where FMC Corporation (NYSE:FMC) stands against the other farmland and agriculture stocks.

The $5 trillion food and agriculture sector has experienced significant changes over the past six decades. Technological advances, resource allocation, and production processes drove these changes. The global agricultural output has been impacted by the Green Revolution of the 1960s as well as the advancements in modern biotechnology. According to the US Department of Agriculture (USDA), the production of the agriculture sector quadrupled between 1961 and 2020. This jump is largely due to technological advancements and increased land use. Therefore, innovations over the years have enabled the sector to meet the ever-increasing demand. However, this industry is still facing challenges. Productivity growth has stunted over the past decade, which creates concerns regarding the sector’s ability to meet the world's increasing demand.

Furthermore, the global agricultural sector has changed dramatically over the years, owing to the increasing involvement of the Global South (Africa, Asia, and Latin America) in overall production. The region contributed an astounding 73% to the global output by 2020. According to McKinsey & Company, the Global South’s contribution to overall production is expected to grow as emerging markets look to modernize their agricultural sectors. Such a change has been majorly driven by technological changes in crop science, irrigation systems, and machinery, enabling the sector to gain larger yields given the same amount of land. Moreover, easing inflation in the U.S. toward the end of 2024 resulted in reduced input costs, especially energy costs, meaning improved margins for the sector.

However, the Total Factor Productivity (TFP) – an important metric for assessing resource management efficiency in agriculture – has faced a slump in recent years. The global TFP has dropped to 0.9% in the last decade, compared to 1.6% in the early 2000s. With the global food demand expected to increase by 60% by 2050, a slowdown in productivity growth comes as a major concern. This stagnation could lead to a rise in food prices, an expansion of agricultural land, and elevated pressure on ecosystems that are already under pressure due to climate change. Around such skepticism, the Farm Products sector has experienced negative returns on a YTD and 6-month basis, while S&P reported 5.80% return on a 6-month basis.

To mitigate these concerns, the agricultural sector needs to counter the global demand with sustainability. Accordingly, McKinsey highlights the need for investment in innovative technologies like precision agriculture, artificial intelligence, and satellite-based monitoring systems. Such technologies can add to efficiency as well as a reduction in the industry's environmental footprint. For instance, farmers are now able to make informed decisions through AI-driven data analytics, leading to an improvement in yield forecasting and optimization of input usage. It is expected that investment in relevant technologies could lead to an increase of over 25% in the agricultural output over the next 10 years, according to McKinsey.

Methodology

For this article, we shortlisted a list of stocks within the agricultural inputs and farm products sectors using the Finviz screeners. We also considered our previous articles on the industry to ensure relevant inclusions in our list. Using the extensive list, we selected companies that demonstrated strong market capitalization.

Next, we looked into the number of hedge funds invested in these companies, which is considered a dependable indicator of firm performance. Moreover, we noted down the short percentage of float for all the companies, which is a testament to the negative sentiment or short interest in the stock. Finally, the shortlisted stocks were ranked in ascending order of their short percentage of float.

Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).

A laboratory technician carefully mixing chemicals in a laboratory.

FMC Corporation (NYSE:FMC)

Number of Hedge Funds: 48

Short % of Float: 7.18%

FMC Corporation (NYSE:FMC), which is a global agricultural sciences company, focuses on pest management, crop protection, and plant health solutions. The company runs its operations across Europe, North America, Asia, the Middle East, Latin America, and Africa.

FMC Corporation (NYSE:FMC) reported revenue of $1.22 billion, a 7% year-over-year increase, for Q4 ended December 31, 2024. This growth was attributed to the volume gains in its growth portfolio, which consists of innovative crop protection products and technologies. However, there was a 3% drop in average selling prices due to pricing pressure. The company, excluding divestitures, has forecasted revenue of $4.15 billion and $4.35 billion for 2025, while it reported revenue of $4.25 billion for 2024.

Cost reductions have been a core area of focus for FMC Corporation (NYSE:FMC), especially in regard to manufacturing efficiencies for Rynaxypyr and Cyazypyr. For 2024, FMC reported $265 million in cost savings, exceeding restructuring targets and estimating over $250 million by the end of 2025. Backed up by cost controls and volume growth, EBITDA for the last quarter of 2024 grew to $339 million, a 33% YoY rise. Furthermore, FMC announced its quarterly dividend of $0.58 per share as a part of its financial strategy, which would be payable on April 17, 2025. This reflects its commitment to shareholder returns while also funding long-term expansion.

In areas where distribution dynamics are evolving, particularly Asia and Latin America, FMC Corporation (NYSE:FMC) is optimizing inventory in key regions. To secure new market opportunities in biologicals and sustainable crop protection, the company is growing its sales organization. To maintain market leadership, the company is pivoting its focus towards new formulations, given that patent expirations are approaching for Rynaxypyr.

By positioning itself for sustained profitability and solidity in a shifting agricultural landscape, FMC Corporation (NYSE:FMC) plans to stay focused on long-term growth through invention and efficiency improvements.

Nevertheless, challenges such as growing competition from generics and foreign exchange headwinds are expected to impact earnings. Accordingly, short sellers remain heavy on the stock, which is why FMC is among the worst farmland and agriculture stocks to buy.

Overall FMC ranks 3rd on our list of the worst farmland and agriculture stocks to buy according to short sellers. While we acknowledge the potential of FMC as an investment, our conviction lies in the belief that certain AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than FMC but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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

It has been about a month since the last earnings report for FMC (FMC). Shares have added about 9.8% in that time frame, outperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is FMC due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.

FMC Corp's Earnings Surpass Estimates, Revenues Miss in Q4

FMC reported a loss of 13 cents for fourth-quarter 2024. This is in contrast with earnings of $8.77 reported in the year-ago quarter.Barring one-time items, adjusted earnings per share were $1.79, beating the Zacks Consensus Estimate of $1.61.Revenues were roughly $1.22 billion in the quarter, up around 6.8% from the year-ago quarter’s level. The top line fell short of the Zacks Consensus Estimate of $1.32 billion.FMC's fourth-quarter revenues were driven by a 15% increase in volume, with growth reported in several countries, especially the United States.

Regional Sales Performance

In North America, sales increased 23% year over year to $340 million in the quarter, driven by higher volume. The figure missed the Zacks Consensus Estimate of $347.5 million.Latin America sales saw a 10% year-over-year decline to $390 million in the reported quarter, as higher volumes were partly offset by a low-single-digit price decline. The figure missed the Zacks Consensus Estimate of $516.9 million.In Asia, revenues rose 10% year over year, totaling $307 million due to higher volumes. The figure beat the Zacks Consensus Estimate of $273.7 million.EMEA experienced an 18% year-over-year sales upside, reaching $188 million in the reported quarter. Higher volumes in EMEA resulted in sales growth, excluding currency impacts. The Plant Health business improved over the previous year. The figure beat the Zacks Consensus Estimate of $183 million.

FY24 Results

For the full year, FMC reported revenues amounting to roughly $4.25 billion, marking a 5.4% decrease from the previous year. On a reported basis, the company posted full-year net income of $341.1 million, reflecting a 74.1% decrease. Consolidated earnings per share were $2.72, down 74.2% year over year.

Financials

The company had cash and cash equivalents of $357.3 million at the end of the quarter, up roughly 18.1% year over year. Long-term debt was around $3.03 billion, up around 0.1% year over year.

Guidance

Revenues for the first quarter are projected to be in the $750 million to $800 million range, a 16% decrease at the midpoint from the same period in 2024. Volume is likely to fall as customers in various countries continue to cut inventories, and retailers and growers make cautious purchases in an environment of low commodity prices. Adjusted EBITDA is estimated to be in the $105 million to $125 million range, a 28% decrease at the midpoint compared to the prior-year quarter, as lower expenses somewhat offset lower price and currency headwinds. Adjusted EPS is estimated to be in the range of 5 cents to 15 cents, representing a 72% fall at the midpoint against the first quarter of 2024 due to the reduction in adjusted EBITDA.Revenues for full-year 2025 are expected to be in the $4.15 billion to $4.35 billion range, roughly steady at the midpoint and up 3% after accounting for about $110 million in lost revenues from the GSS business divestiture. Full-year adjusted EBITDA is estimated to be between $870 million and $950 million, up 1% from the previous year at the midpoint and 4% after accounting for roughly $25 million in lost EBITDA from the GSS sale. The adjusted EPS for 2025 is estimated to be $3.26 to $3.70 per share, which is consistent with the previous year at the midpoint. Full-year free cash flow is projected to be $200 million to $400 million, a $314 million decrease from 2024 at the midpoint, as the free cash flow conversion normalizes following the outsized recovery in 2024.

How Have Estimates Been Moving Since Then?

In the past month, investors have witnessed a downward trend in estimates review.

The consensus estimate has shifted -96.2% due to these changes.

VGM Scores

Currently, FMC has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a grade of B on the value side, putting it in the top 40% for this investment strategy.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise FMC has a Zacks Rank #5 (Strong Sell). We expect a below average return from the stock in the next few months.

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FMC Corporation (FMC) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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SANTIAGO CHILE, Chile (AP) — SANTIAGO CHILE, Chile (AP) — Sociedad Quimica y Minera de Chile SA (SQM) on Tuesday reported fourth-quarter earnings of $120.1 million.

On a per-share basis, the Santiago Chile, Chile-based company said it had net income of 42 cents.

The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.

The chemicals company posted revenue of $1.07 billion in the period.

For the year, the company reported a loss of $404.4 million, or $1.42 per share. Revenue was reported as $4.53 billion.

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

FMC Corporation (NYSE:FMC) has recently been in the spotlight due to a preliminary proxy statement opposing a shareholder proposal aimed at lowering the threshold for calling special meetings, an initiative that management views as a potential conflict with current governance practices. This development, alongside FMC’s affirmation of a regular quarterly dividend of 58 cents per share, coincides with a 4.29% decline in the company’s share price over the past week. This dip is noteworthy given the backdrop of broader market volatility, where major indexes like the Dow Jones experienced slight gains and losses amid ongoing discussions about tariffs and economic data concerns. The general market downturn, with the market dropping 3.1% over the same period, further contextualizes FMC’s price movements, highlighting external pressures in addition to internal governance challenges that influenced the company’s share performance.

Get an in-depth perspective on FMC’s performance by reading our analysis here.

NYSE:FMC Revenue & Expenses Breakdown as at Mar 2025

Over the past year, FMC Corporation has experienced a total shareholder return of 36.18% decline. This performance has lagged significantly behind the broader US market, which recorded a return of 13.1% over the same period. FMC also underperformed the US Chemicals industry, which saw a 3.9% decline, highlighting the company’s struggles amidst challenging conditions.

Several events over the past year played critical roles in FMC’s share performance. Notably, the company reported a full-year net income of US$341.1 million, a stark decrease from the previous year’s US$1.32 billion. In February, a class action lawsuit alleged misleading statements about company performance, potentially impacting investor sentiment. Additionally, FMC settled to pay US$56.1 million as part of an environmental claims resolution. Despite sustaining a high dividend payout, these challenges were compounded by a significant one-off loss of US$146.8 million, casting a shadow over its financial health and influencing investor perceptions.

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.

Companies discussed in this article include NYSE:FMC.

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

FMC (NYSE:FMC) Full Year 2024 ResultsKey Financial Results

Revenue: US$4.25b (down 5.4% from FY 2023).
Net income: US$401.7m (down 72% from FY 2023).
Profit margin: 9.5% (down from 32% in FY 2023).
EPS: US$3.21 (down from US$11.33 in FY 2023).

NYSE:FMC Revenue and Expenses Breakdown March 5th 2025

All figures shown in the chart above are for the trailing 12 month (TTM) period

FMC Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) also missed analyst estimates by 34%.

The primary driver behind last 12 months revenue was the Brazil segment contributing a total revenue of US$1.08b (25% of total revenue). Notably, cost of sales worth US$2.60b amounted to 61% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to US$644.6m (52% of total expenses). Explore how FMC's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Chemicals industry in the US.

Performance of the American Chemicals industry.

The company's shares are down 4.3% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 4 warning signs for FMC (1 doesn't sit too well with us) you should be aware of.

It is hard to get excited after looking at FMC's (NYSE:FMC) recent performance, when its stock has declined 38% over the past three months. However, stock prices are usually driven by a company’s financials over the long term, which in this case look pretty respectable. Particularly, we will be paying attention to FMC's ROE today.

Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. Put another way, it reveals the company's success at turning shareholder investments into profits.

See our latest analysis for FMC

How To Calculate Return On Equity?

The formula for return on equity is:

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

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

8.9% = US$403m ÷ US$4.5b (Based on the trailing twelve months to December 2024).

The 'return' is the income the business earned over the last year. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.09.

What Is The Relationship Between ROE And Earnings Growth?

Thus far, we have learned that ROE measures how efficiently a company is generating its profits. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. Assuming all else is equal, companies that have both a higher return on equity and higher profit retention are usually the ones that have a higher growth rate when compared to companies that don't have the same features.

A Side By Side comparison of FMC's Earnings Growth And 8.9% ROE

On the face of it, FMC's ROE is not much to talk about. However, given that the company's ROE is similar to the average industry ROE of 9.9%, we may spare it some thought. Having said that, FMC has shown a modest net income growth of 17% over the past five years. Considering the moderately low ROE, it is quite possible that there might be some other aspects that are positively influencing the company's earnings growth. For example, it is possible that the company's management has made some good strategic decisions, or that the company has a low payout ratio.

We then compared FMC's net income growth with the industry and we're pleased to see that the company's growth figure is higher when compared with the industry which has a growth rate of 11% in the same 5-year period.

NYSE:FMC Past Earnings Growth March 3rd 2025

Earnings growth is an important metric to consider when valuing a stock. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. Doing so will help them establish if the stock's future looks promising or ominous. Has the market priced in the future outlook for FMC? You can find out in our latest intrinsic value infographic research report.

Is FMC Using Its Retained Earnings Effectively?

FMC has a healthy combination of a moderate three-year median payout ratio of 33% (or a retention ratio of 67%) and a respectable amount of growth in earnings as we saw above, meaning that the company has been making efficient use of its profits.

Additionally, FMC has paid dividends over a period of at least ten years which means that the company is pretty serious about sharing its profits with shareholders. Upon studying the latest analysts' consensus data, we found that the company's future payout ratio is expected to rise to 55% over the next three years. However, FMC's future ROE is expected to rise to 11% despite the expected increase in the company's payout ratio. We infer that there could be other factors that could be driving the anticipated growth in the company's ROE.

Conclusion

In total, it does look like FMC has some positive aspects to its business. Despite its low rate of return, the fact that the company reinvests a very high portion of its profits into its business, no doubt contributed to its high earnings growth. With that said, the latest industry analyst forecasts reveal that the company's earnings growth is expected to slow down. To know more about the company's future earnings growth forecasts take a look at this free report on analyst forecasts for the company to find out more.

VANCOUVER, BC / ACCESS Newswire / February 25, 2025 / Stillwater Critical Minerals Corp. (TSXV:PGE)(OTCQB:PGEZF)(FSE:J0G) (the "Company" or "Stillwater") is pleased to announce that, subject to the approval of the TSX Venture Exchange (the "TSX-V"), it has closed a second non-brokered private placement financing for additional proceeds of $500,001, through the issuance of 3,333,340 flow-through units at a price of $0.15 per unit ("Private Placement"). Each unit consists of one flow-through share of the Company and one-half of one transferable non-flow-through warrant, with each full warrant allowing the holder to purchase one common share of the Company at a price of $0.225 per share for twenty-four months. Warrants shall contain a customary acceleration provision, which shall be effective if the volume weighted average trading price of the common shares on the TSX-V is greater than $0.34 for a period of 20 consecutive trading days.

Michael Rowley, President and CEO, commented, "We are pleased with the additional interest shown in advancing our Kluane critical minerals project. As announced previously, work is expected to include ground geological programs and potential geophysical surveys, in addition to data compilation, to drive the selection of drill targets across this district-scale asset ahead of upcoming campaigns. We look forward to further announcements in the near term, in particular from our flagship Stillwater West project as we work with Glencore via the technical committee to finalize our exploration and resource expansion drill plan for 2025. Investors are invited to meet the team including Dr. Danie Grobler at booth 2724 at the PDAC in Toronto March 2nd to 5th, or at subsequent shows as listed below."

The Company intends to use the gross proceeds from the sale of the Flow-Through Shares to incur exploration expenses that are eligible "Canadian exploration expenses" that qualify as "flow-through critical mineral mining expenditures" as such terms are defined in the Income Tax Act (Canada).

All securities issued pursuant to the Placement will be subject to a four-month hold period from the date of issuance in accordance with applicable securities laws and the policies of the TSX-V. The securities have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons, absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. The private placement remains subject to the final approval of the TSX-V.

About the Kluane Critical Minerals Project

At 260 square kilometers, Stillwater's Kluane project represents the largest land position in the Kluane Ultramafic Belt; a mafic-ultramafic system that extends from northern BC through the Yukon to central Alaska and hosts multiple PGE-Ni-Cu deposits and occurrences. Located in Canada's Yukon Territory, the Kluane PGE-Ni-Cu project is on trend with the Wellgreen deposit, a past producing mine, now being advanced by Nickel Creek Platinum.

PGE-Ni-Cu mineralization in the Kluane belt typically occurs as magmatic disseminated to massive sulphides associated with mafic to ultramafic intrusive bodies. The most advanced targets on the Kluane project are on the Ellen property, where exploration has identified significant massive sulphide mineralization from drilling and trenching. Drilling includes 17 drill holes from 1954 to 1995 with 12 holes returning significant sulphide mineralization including 3.15% Cu over 5.2 meters in MC66-1, 1.64% Cu over 10.4 meters in MC66-2, 1.76% Cu over 5.5 meters in hole 95-1, and a 2.13-meter intersection grading 1.96% Cu and 2,098 ppb Au in hole 95-3. Trenching returned values of up to 7.2% Cu with 1 g/t Au and 1 g/t Pd. Strong copper plus gold soil geochemical signatures have been identified on the property that are coincident with a large geophysical conductor nearly one kilometer in length1 & 2.

The Spy claim block also includes some more advanced targets, including the Spy Sill, which has been traced for over 8 kilometers with widths of 75 to 100 meters at surface. Massive sulphide mineralization at the Spy target have assayed up to 5.5 g/t 3E (3.1 g/t Pt, 1.4 g/t Pd, 1.0 g/t Au) with 3.1% Ni, 2.8% Cu and 0.2% Co, and historic grab sample results of up to 90.7 g/t 3E (75.8 g/t Pt, 7.9 g/t Pd, 7.0 g/t Au) with 2.6% Ni, 10.5% Cu and 0.09% Co reported from footwall siltstones3.

Trenches from the Ultra block yielded up to 19.5 g/t 3E (5.5 g/t Pt, 13.5 g/t Pd, 0.5 g/t Au), with 4.1% Cu, and 1.7% Ni from an ultramafic sill4. Exploration on Ultra since 2017 has included ground-based geophysics, UAV imagery collection, and soil and rock sampling programs, which successfully advanced multiple targets for follow-up work as the Company systematically moves several zones to drill-ready status.

Upcoming Events

Stillwater's President and CEO, Michael Rowley, will be available at the following events in 2025, in addition to other events to be added as the Company rolls out its marketing plans over the coming year:

Prospectors and Developers Association of Canada Conference, booth #2724 (PDAC) – Toronto, Ontario, Canada, March 2-5, 2025. For information, click here.

Global Commodity Expo Florida – Fort Lauderdale, Florida, USA, May 11-13, 2025. For information, click here.

Global Commodity Expo Atlanta – Atlanta, Georgia, USA, May 14-16, 2025. For information, click here.

The Mining Investment Event of the North – Quebec City, Quebec, Canada, June 3-5, 2025. For information, click here.

Precious Metals Summit – Beaver Creek, Colorado, September 9-12, 2025. For information, click here.

Precious Metals Summit – Zurich, Switzerland, November 10-11, 2025. For information, click here.

About Stillwater Critical Minerals Corp.

Stillwater Critical Minerals (TSX.V:PGE)(OTCQB:PGEZF)(FSE:J0G) is a mineral exploration company focused on its flagship Stillwater West Ni-PGE-Cu-Co + Au project in the iconic and famously productive Stillwater mining district in Montana, USA. With the addition of two renowned Bushveld and Platreef geologists to the team and strategic investments by Glencore Plc, the Company is well positioned to advance the next phase of large-scale critical mineral supply from this world-class American district, building on past production of nickel, copper, and chromium, and the on-going production of platinum group, nickel, and other metals by neighboring Sibanye-Stillwater. An expanded NI 43-101 mineral resource estimate, released January 2023, positions Stillwater West with the largest nickel resource in an active US mining district as part of a compelling suite of nine minerals now listed as critical in the USA.

Stillwater also holds a 49% interest in the high-grade Drayton-Black Lake- gold project adjacent to Nexgold Mining's development-stage Goliath Gold Complex in northwest Ontario, currently under an earn-in agreement with Heritage Mining, and the Kluane PGE-Ni-Cu-Co critical minerals project on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory. The Company also holds the Duke Island Cu-Ni-PGE property in Alaska and maintains a back-in right on the high-grade past-producing Yankee-Dundee in BC, following its sale in 2013.

References

Davidson, G.S., 1995. Assessment report on the Ellen claims NTS A-113. Yukon Assessment Report 093356.

Pautlier, J., 2006. Geological and Geochemical Evaluation Report of the Ellen Project. Yukon Assessment Report 094776.

Bell, C. 1996. Report on 1995 geological and geochemical surveys on the Klu property. Yukon Assessment Report 0933371.

Casselman, S., 2005. Geological mapping and airborne surveying program on the Ultra property, Haines Junction area, Yukon Territory. Yukon Assessment Report 094485.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Michael Rowley, President, CEO & Director – Stillwater Critical MineralsEmail: info@criticalminerals.com Phone: (604) 357 4790Web: http://criticalminerals.com Toll Free: (888) 432 0075

Quality Control and Quality Assurance

Ms. Debbie James, P.Geo., is the qualified person for the purposes of National Instrument 43-101, and she has reviewed and approved the technical disclosure contained in this news release. Ms. James is the Project Manager for the Kluane area and is not independent of the Company because she has received employment income from the Company and holds stock in the Company.

Historic samples were collected by reputable operators, using standard QAQC procedures and practices current at the time of collection. They are considered reliable. Samples are not necessarily representative of all the mineralization hosted in the area.

Forward-Looking Statements

This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Stillwater Critical Minerals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Stillwater Critical Minerals and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedarplus.ca.

SOURCE: Stillwater Critical Minerals Corp.

View the original press release on ACCESS Newswire

We are making tracks locating the source of the epithermal deposit at Thor!

ESTES PARK, CO / ACCESS Newswire / February 25, 2025 / Taranis Resources Inc. ("Taranis" or the "Company") (TSX.V:TRO)(OTCQB:TNREF) is providing the second in a series of News Releases that detail exploration for a deep, underlying mineralized intrusive body at Thor. This News Release documents two drill holes (Thor-246 and Thor-247) that were drilled from a single setup 0.6 km southeast of the Broadview Mine. Both drill holes returned anomalous gold (up to 0.452 g/t Au) over substantial widths. These intercepts were drilled west of the Z-900/1300 anomaly (see attached plan map) and provides compelling information that the main body of the feature is mineralized. Taranis has provided a cross-section of these drill holes that shows the location of the section relative to the important geophysical anomalies, and it appears on the website www.taranisresources.com

Gold and Zinc Zones in Thor-246 and Thor-247

Taranis undertook systematic geochemical analysis of the holes including major oxide alteration geochemistry, rare-earth element analysis, gold and ICP-MS geochemistry. As the holes were targeting airborne geophysical features, inversion models derived from the surveys were compared with physical data collected in the drill holes. As these were the first holes to go into this critical area of Thor, the analyses of drill cores was designed to identify geochemical-levels of mineralization that can provide valuable targeting information. Scanning Electron Microscopy ("SEM") analysis was used to identify minerals that included albite, garnet, amphiboles, ankerite, chlorite, biotite and ludwigite. Ludwigite is a boron-rich mineral typically found in magnesian skarns.

Thor-246 (-700)

Thor-246 intersected a 53.0m wide zone (355.0-408.0m) of geochemical gold, accompanied by elevated levels of arsenic, tin, tungsten and zinc within a rock type that is distinct from the magnetite-bearing I-2 intrusive dyke. This type of alteration and gold-enrichment is diagnostic of the margins of a large-scale intrusive-related hydrothermal system. A green mineral that was originally described as ‘epidote' at Thor has been determined by SEM to be andradite-grossular garnet, and its presence is also diagnostic of contact metamorphic zones around an intrusive. The geochemical data from Thor-246 is summarized in the following table and is also shown graphically on the cross-section on the website.

Thor-246 (355.0-408.0m) – 53.0m Interval
	Au (ppb)	As (ppm)	Sn (ppm)	W (ppm)	Zn (ppm)
Average	24	140	0.9	0.5	69
No. Samples	54	54	54	54	54
Minimum	5	1	<0.1	<0.1	21
Maximum	452	838	7.7	1.7	149
Standard Deviation	64	198	1.2	0.5	30

The association of arsenic and gold is a correlation well-documented in the overlying epithermal deposit at Thor, and provides some level of causal connection with Thor-246. Tin and tungsten are also weakly anomalous and are considered pathfinder elements for gold deposits associated with intrusives. One of the peculiar aspects is the lack of silver, copper and lead that are major components of the overlying epithermal deposit, and this may be related to geochemical zonation.

Thor-247 (-650)

Thor-247 was drilled up-dip from Thor-246 to establish the geometry of the geological formations encountered in Thor-246. This hole intersected anomalous gold in two intervals within identical albite and carbonate-bearing rocks found in Thor-246. The upper intercept included elevated levels of zinc mineralization from 301.0 to 306.8m. Although the gold content and thickness are less than those found in the underlying Thor-246 drill hole, both holes viewed collectively show increasing gold and arsenic tenors with depth.

Thor-247 (278.3 – 314.0m) – 35.7m Interval
	Au (ppb)	As (ppm)	Sn (ppm)	W (ppm)	Zn (ppm)
Average	9	46	1.2	1.7	527
No. Samples	35	35	35	35	35
Minimum	5	1	<0.1	<0.1	64
Maximum	26	214	4.0	5.5	6,670
Standard Deviation	4	43	1.3	1.9	1,255

The lower intercept was in albite-carbonate breccia that had a creamy beige color. The SEM identified albite, ankerite, clays (kaolinite?), quartz, chlorite, amphibole, garnet and ludwigite in this interval.

Thor-247 (351.0-379.9) – 28.9m Interval
	Au (ppb)	As (ppm)	Sn (ppm)	W (ppm)	Zn (ppm)
Average	16	35	1.4	3.4	104
No. Samples	13	13	13	13	13
Minimum	5	11	0.2	<0.1	53
Maximum	61	61	4.3	22.2	244
Standard Deviation	18	17	1.4	6.3	53

Comment

John Gardiner, President and CEO of Taranis comments "drill holes Thor-246 and Thor-247 have intersected a completely different part of the hydrothermal system that is not exposed at surface at Thor, yet has obvious geological connections to the overlying epithermal deposit. While the gold content is obviously not ‘ore-grade', the persistent and wide geochemical levels of gold seen in both drill holes in association with arsenic, tin, tungsten and zinc strongly suggests that these holes are proximal to a mineralized alkalic intrusive body. The presence of andradite-grossular garnet and ludwigite are also hallmarks of a contact alteration aureo0le related to an intrusive body. Both the 246 and 247 gold-arsenic intercepts are located west of the Z-900/1300 feature, but provide valuable insight into this important resistivity anomaly. Taranis is currently making plans to evaluate both this target and the underlying I-1 intrusive target that appear to be the source of the substantial overlying epithermal deposit at Thor".

About Taranis and Thor

Taranis Resources is a Canadian mineral exploration company. The Thor Project is in southeast British Columbia. Taranis has completed upwards of 250 drill holes, linking all previously known mines into a single, near-surface epithermal deposit that has been recently updated into an NI 43-101 Mineral Resource Estimate (see Taranis News Release dated April 11, 2024). In the summer of 2024, Taranis initiated deep drilling aimed at finding the source of the 2 km long epithermal deposit.

Quality Control and Laboratory Methods

All samples for the Thor project were securely delivered to Actlabs in Kamloops, British Columbia.

Analytical work was completed both at the Kamloops and Ancaster, Ontario locations. Actlabs is ISO 17025 accredited. Taranis completed two types of geochemical analysis on the drill core.

The first of these was for major oxide geochemistry and quantitative graphite and carbonate determinations.

This sampling was completed systematically on drill holes to determine alteration of rock units. Major oxides and trace elements were determined by lithium metaborate/tetraborate fusion and analysis by Inductively Coupled Plasma ("ICP"), Optical Emission Spectrometry ("OES") and Mass Spectrometry ("MS"). Graphite and Carbonate determinations were made using Infrared ("IR") Spectrometry.

Secondly, visibly (or potentially mineralized sections of core) were systematically sampled after sawing the core in half onsite. Samples were analyzed for 42 elements by 4-Acid Digestion / Inductively Coupled Plasma – Mass Spectrometry ("ICP-MS") and for gold by 30g Fire Assay / Atomic Absorption Spectrophotometry ("AAS"). Where overlimit values were encountered in the analysis of these samples, ore-grade' determinations were made using subsequent ICP analysis and gravimetric methods. As a Quality Control ("QC") measure, Taranis also submitted analytical standards into the sample stream every tenth sample in addition to the laboratory's own quality control methods.

SEM was completed at the Colorado School of Mines in the Automated Mineralogy Laboratory. The TESCAN Integrated Mineral Analyzer ("TIMA") is a fully automated SEM-based analysis system that provides quantitative mineralogical and textural data on the basis of automated point counting. The instrument contains a custom-built electron-beam platform equipped with four energy dispersive X-ray spectrometers for mineral and compound identification within a wide range of sample types.

Qualified Person

Exploration activities at Thor were overseen by John Gardiner (P. Geo.), who is a Qualified Person under the meaning of Canadian National Instrument 43-101. John Gardiner is the principal of John J. Gardiner & Associates, LLC which operates in British Columbia under Firm Permit Number 1002256. Mr. Gardiner has reviewed and approved the comments contained within this News Release.

Taranis currently has 100,348,854 shares issued and outstanding (113,827,227 shares on a fully-diluted basis).

TARANIS RESOURCES INC.

Per: John J. Gardiner (P. Geo.), President and CEO

For further information contact:

John J. Gardiner681 Conifer LaneEstes Park, Colorado 80517

Phone: (303) 716-5922 Cell: (720) 209-3049 johnjgardiner@earthlink.net

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

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

SOURCE: Taranis Resources, Inc.

View the original press release on ACCESS Newswire

The Australian market is experiencing a downturn, with the ASX 200 futures indicating a sharp decline as it mirrors Wall Street’s recent struggles amid waning optimism among traders. In such volatile times, identifying stocks with potential can be challenging yet rewarding. Penny stocks, though often considered relics of past market eras, continue to offer intriguing opportunities for those willing to explore smaller or newer companies. These stocks can provide affordability and growth potential when backed by strong financials, making them an attractive option for investors seeking value beyond the mainstream indices.

Top 10 Penny Stocks In Australia

Name	Share Price	Market Cap	Financial Health Rating
Embark Early Education (ASX:EVO)	A$0.795	A$145.87M	★★★★☆☆
EZZ Life Science Holdings (ASX:EZZ)	A$1.985	A$93.64M	★★★★★★
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Click here to see the full list of 1,036 stocks from our ASX Penny Stocks screener.

Let’s explore several standout options from the results in the screener.

Arafura Rare Earths

Simply Wall St Financial Health Rating: ★★★★★★

Overview: Arafura Rare Earths Limited is involved in the exploration and development of mineral properties in Australia, with a market capitalization of A$357.33 million.

Operations: Currently, there are no reported revenue segments for the company.

Market Cap: A$357.33M

Arafura Rare Earths, with a market cap of A$357.33 million, is pre-revenue and currently unprofitable. The company recently reported a reduced net loss of A$18.85 million for the half-year ending December 2024, compared to A$66.87 million the previous year. Despite being debt-free and having short-term assets exceeding liabilities, it faces cash runway challenges but has secured significant funding through a A$200 million convertible note issuance to support its Nolans Project development. Recent leadership changes aim to bolster project execution capabilities with experienced mining executives joining the team amidst management transitions.

ASX:ARU Financial Position Analysis as at Feb 2025iCandy Interactive

Simply Wall St Financial Health Rating: ★★★★★★

Overview: iCandy Interactive Limited, along with its subsidiaries, designs, develops, and publishes mobile games and digital entertainment across Australia, Singapore, Malaysia, Indonesia, and Europe with a market cap of A$25.61 million.

Operations: The company’s revenue is primarily derived from the Provision of Creative Arts segment, which generated A$25.48 million, and Game Development/Publishing, contributing A$2.10 million.

Market Cap: A$25.61M

iCandy Interactive, with a market cap of A$25.61 million, remains unprofitable but holds potential due to its experienced board and reduced debt-to-equity ratio from 18.8% to 6.6% over five years. The company’s short-term assets of A$12.3 million comfortably cover both its short-term and long-term liabilities, indicating financial stability despite declining earnings over the past five years at 40.6% annually. Shareholders have not faced significant dilution recently, and iCandy has more cash than total debt, providing a cash runway exceeding one year if current free cash flow trends continue without further deterioration.

ASX:ICI Revenue & Expenses Breakdown as at Feb 2025Image Resources

Simply Wall St Financial Health Rating: ★★★★★☆

Overview: Image Resources NL is a mineral sands mining company operating in Western Australia with a market cap of A$111.34 million.

Operations: Image Resources NL has not reported any specific revenue segments.

Market Cap: A$111.34M

Image Resources NL, with a market cap of A$111.34 million, is pre-revenue and unprofitable, with earnings declining 33.2% annually over five years. Despite this, the company benefits from being debt-free and having an experienced board with an average tenure of 8.7 years. Its short-term assets of A$43.8 million exceed short-term liabilities but fall short against long-term liabilities of A$51.5 million, indicating some financial pressure. Shareholders have not experienced significant dilution recently, and the management team is seasoned with an average tenure of 9.5 years, suggesting stability in leadership amid ongoing challenges.

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The parties will establish a European joint-venture that controls Rock Tech's Guben Converter in Germany, as well as Arcore's Lopare project in Bosnia-Herzegovina.
The business combination will cover the entire value chain from mine to battery-grade Lithium products.
This fully integrated supply chain will ensure a reliable battery materials supply for Europe, create operational synergies, lower costs and substantially enhance international competitiveness.
The binding Business Combination Agreement has been signed on February 19, 2025. Rock Tech will hold 75% control of the newly created company. Closing is targeted for Q2/2025.

TORONTO, Feb. 20, 2025 /CNW/ – Rock Tech Lithium Inc. (TSXV: RCK) (OTCQX: RCKTF) (FSE: RJIB) ("Rock Tech" or "the Company") is pleased to announce the signing of a binding Business Combination Agreement (BCA) to form a business combination with Arcore AG ("Arcore"), an arm's length Swiss-based mining company. The goal is to establish a fully integrated Lithium supply chain in Europe, reducing dependence on other regions for critical battery raw materials. Lithium is an essential mineral for the energy transition, and demand in Europe is expected to triple by 2030, driven by the increasing need for batteries in electric vehicles (EVs) and energy storage systems as estimated by McKinsey & Company's Battery Insight Demand Model.

Dirk Harbecke, Rock Tech CEO & Chairman, comments: "Strong European supply chains are essential to secure the regions' strategic autonomy, promote industrial competitiveness and enable the transformation to a climate-neutral economy. Europe is currently heavily dependent on imports of critical raw materials such as lithium. This is an important step for Rock Tech to become the European leader in battery raw materials supply."

Jeff Stone, Interim CEO Arcore, states: "Caring for this exceptionally vital asset of the Republic of Srpska is a fiduciary duty that we assume with the utmost responsibility. It is with that responsibility in mind that we formally submit our concession application. It is a privilege for Arcore alongside Rock Tech to play a defining role in the creation of an independent European supply chain of critical metals."

Vladimir Rudic, Managing Director of Arcore Doo in Bosnia-Herzegovina, adds: "The Lopare project, thanks to our collaboration and association with Rock Tech, and their cutting-edge technological innovations, will be the standard bearer of new trends in the development of sustainable mining in this traditional mining region."

Formation of NewCo

Rock Tech and Arcore will establish a new European entity (NewCo). Upon Closing, it is intended that (i) Rock Tech will contribute the shares of its wholly owned subsidiary Rock Tech Guben GmbH to NewCo and will hold shares in NewCo representing 75% of NewCo's registered share capital, and that (ii) ARCORE will contribute the shares of its wholly owned subsidiary AR CORE d.o.o to NewCo and hold shares representing 25% of NewCo's registered share capital.

The core assets of NewCo will include Rock Tech's fully permitted Lithium converter in Guben, Germany, and Arcore's lithium-boron-magnesium mining project in Lopare, Bosnia-Herzegovina. It is envisioned that the Lopare project will deliver Lithium Sulphate feedstock (produced at site) to the Guben Converter from 2030 onwards; in addition to the already secured spodumene supply from contracted partners. Utilizing Lithium Sulphate as future feedstock is a key step in establishing a circular Lithium economy and reducing production costs significantly. This approach aligns with Rock Tech's recycling flowsheet, for which Lithium Sulphate from black mass recycling is used and subsequently refined into battery-grade Lithium hydroxide at Rock Tech's converters. By processing Lithium raw material to Lithium Sulphate at-site in Lopare an important value-adding step will remain in-country.

As leading partner of the NewCo, Rock Tech will engage closely with the local communities as part of the permitting process, leveraging its expertise gained from developing its Georgia Lake lithium project in Canada. The Arcore deposit will be developed in cooperation with local stakeholders and in compliance with the strictest environmental, social, and governance (ESG) standards. The company plans to obtain certification under the Initiative for Responsible Mining Assurance (IRMA) standard.

The Projects

Guben Lithium Converter

The centerpiece of Rock Tech's European activities is its planned Lithium-Hydroxide Monohydrate ("LHM") Converter in the Brandenburg battery cluster, designed to produce battery-grade LHM for up to 500,000 electric vehicles per year. The project is currently in its final financing phase, with all relevant construction, environmental and operation permits and engineering studies completed. The state of Brandenburg supports the project due to its high strategic relevance. Engineering and project management firm Worley Ltd. has been selected as the EPCM provider for the Guben Converter, and LHM offtake agreements as well feedstock supply have been secured.

Lopare Lithium Project

Arcore's mineral deposit in the Lopare region of Bosnia-Herzegovina has the potential to become one of the largest lithium mines in Europe with estimated 600.000 tonnes of Lithium Carbonate Equivalent (LCE). According to the CSA Global Mineral Resource Estimate (MRE), the deposit contains an indicated resource of 426Mt grading 561ppm Li2O and 0.95% B2O3 and an inferred resource of 864Mt grading 579ppm Li2O and 0.67% B2O3, respectively. Beyond lithium and boron, the deposit contains significant concentrations of other valuable minerals. Internal estimates indicate that within the resource area, the material contains an average of 9.41% MgO, 2.3% K₂O, and 10.82% Al₂O₃. While these elements are not included in the reported Mineral Resource Estimate, they highlight the broader economic potential of the deposit.

CSA Global Mining Industry Consultants, an ERM Group Company, completed a Mineral Resource Estimate titled "Lopare-Boron-Lithium-Project" as finalized on November 30 2022 with report number R268.2022. The Mineral Resource Estimate is summarized below in Table 1. Note, Arcore AG being a privately-owned Switzerland-based lithium mining company opted to adhere to Australian JORC Code 2012 guidelines, meaning that such mineral resource estimate may not align fully with the reporting requirements of Canada's National Instrument 43-101.

(CNW Group/Rock Tech Lithium Inc.)

The Lopare deposit remains highly prospective, with significant potential to expand the existing resource through additional exploration and technical studies. While elements such as MgO, K₂O, and Al₂O₃ are not currently included in the Mineral Resource Estimate, ongoing geometallurgical and mineralogical studies will further assess their economic significance. Moreover, exploration beyond the defined Mineral Resource suggests geological continuity, with a significant exploration target. This exploration target highlights the opportunity for further resource growth and optimization through future drilling programs and study work.

Following the successful completion of the exploration phase, the project has now applied for a Mining Concession. The first important step in the new joint venture will be the finalization of the pre-feasibility study to further assess the technical scope and quantify the economic benefits of the project. In addition to developing possible mining and processing methods, this study will comprehensively examine the environmental and social compatibility of the project. The study will be carried out by an internationally experienced engineering consultancy company.

With this joint venture, Rock Tech and Arcore are taking a significant step toward securing a sustainable, efficient, and competitive lithium supply chain in Europe, reinforcing the continent's battery industry and energy transition goals.

—–

SCIENTIFIC AND TECHNICAL DISCLOSURE The scientific and technical disclosure included in this news release has been reviewed and approved by Cameron Andrews, P.Eng, General Manager Georgia Lake Project, a Qualified Person under National Instrument 43-101 Standards of Disclosure of Mineral Projects.

CLOSING CONDITIONS The completion of this transaction remains subject to the fulfillment of all customary closing conditions, including but not limited to regulatory approvals, and compliance with applicable legal and tax requirements.

Neither the 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.

There are no finders' fees associated with this transaction.

ABOUT ROCK TECH

Rock Tech's vision is to supply the electric vehicle and battery industry with sustainable, locally produced Lithium, targeting a 100% recycling rate. To ensure resilient supply chains, the company plans to build Lithium converters at the doorstep of its customers, beginning with the Company's proposed Lithium-Hydroxide Converter in Guben, Brandenburg, Germany. Rock Tech Lithium plans to source spodumene from its own Georgia Lake project in the Thunder Bay Mining District of Ontario, Canada, and procure from other ESG-compliant mines, including sourcing intermediary Lithium products. Ultimately, Rock Tech's goal is to create a closed-loop Lithium production system. Rock Tech has gathered one of the strongest teams in the industry to close the most pressing gap in the clean mobility story. The Company has adopted strict environmental, social and governance standards and is developing a proprietary refining process to increase efficiency and sustainability further. Rock Tech Lithium Inc, 2400-333 Bay Street, Toronto ON M5H 2T6, CAN.

ABOUT ARCORE AG

Arcore is a privately-owned Switzerland-based lithium mining company with extensive lithium resources and a commitment to environmental and safety standards while seeking to accelerate Europe's energy transition reliably. https://arcore.ch/ Arcore AG, Steinhauserstr. 74, 6300 Zug, Switzerland.

CAUTIONARY NOTE CONCERNING FORWARD-LOOKING INFORMATION Certain statements contained in this news release constitute "forward-looking information" under applicable securities laws and are referred to herein as "forward-looking statements". All statements, other than statements of historical fact, which address events, results, outcomes or developments that the Company expects to occur are forward-looking statements. When used in this news release, words such as "expects", "anticipates", "plans", "predicts", "believes", "estimates", "intends", "targets", "projects", "forecasts", "may", "will", "should", "would", "could" or negative versions thereof and other similar expressions are intended to identify forward-looking statements. In particular, this press release contains forward-looking information pertaining to expectations or predictions concerning the establishment of the joint venture company, the regulatory approvals, fulfilment of closing conditions, and/or about the mineral resource or reserve or outcome and proof of the expected potential of the Lopare Lithium project, the Company's and/or Arcore's intentions with respect to the development and timing thereof and statements regarding further exploration activities future plans, activities and schedules relating to such projects and related development including the design and features of the Guben Converter and/or the Lopare Lithium project, as well as the potential of the Lopare Lithium project and the expected costs, capital expenditures, timing and outcomes thereof; statements regarding the Company's future plans, estimates, and schedules relating to the joint venture company, the Guben Converter and/or the Lopare Lithium project, including the anticipated timing of future activities taken in support of the development thereof; Rock Tech's potential financing arrangements; the expected economic performance of the Guben Converter and/or the Lopare Lithium project and anticipated production of battery-grade Lithium Hydroxide and related processing methods employed and the exploration of the Lopare deposit; the estimated capital and operating costs of the Guben Converter and/or the Lopare Lithium project; the anticipated timing and outcomes of a final investment decision and regulatory approvals,construction activities and commissioning of the Guben Converter; the anticipated timing and outcome of the pre-feasibility study of the Lopare Lithium project; statements regarding the Company's sustainability and ESG related goals and strategy, including the benefits and achievement thereof and future actions taken by the Company in relation thereto; expected regulatory processes and final outcomes, permits and mining concessions; expectations regarding the electric vehicle industry, including the demand for and pricing of battery-grade Lithium Hydroxide and the benefits therefrom, expectations regarding the exploration targets and future drilling programs and the development of political and regulatory frameworks especially in Germany, Bosnia-Herzegovina and the European Union; Rock Tech's opinions, beliefs and expectations regarding the Company's business strategy, development and exploration opportunities and projects; and plans and objectives of management for the Company's operations and properties. Forward-looking statements by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially from the forward-looking statements, including the risks, uncertainties and other factors discussed in the Company's most recent management's discussion and analysis and annual information form filed with the applicable securities regulators. No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, and the Company cautions the reader not to place undue reliance upon any such forward-looking statements. The Company does not intend, nor does it assume any obligation to update or revise any of the forward-looking statements, whether as a result of new information, changes in assumptions, future events or otherwise, except to the extent required by applicable law.

Rock Tech and Arcore Team attending the signing ceremony. From left to right: V. Rudic, Managing Director Arcore Doo; D. Harbecke, CEO & Chair Rock Tech Lithium; Jeff Stone, CEO Arcore AG. (CNW Group/Rock Tech Lithium Inc.)Cision

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10.4 million ounces ("Moz") Palladium Equivalent ("PdEq1") Measured + Indicated, and 5.0 Moz PdEq1 Inferred

VANCOUVER, BC, February 18, 2025 /CNW/ – Bravo Mining Corp. (TSXV: BRVO) (OTCQX: BRVMF), ("Bravo" or the "Company") is pleased to report the results of its 2025 Mineral Resource Estimate ("MRE") at its 100% owned Luanga palladium + platinum + rhodium + gold + nickel deposit ("Luanga deposit" or "Luanga PGM+Au+Ni deposit"), located in the Carajás Mineral Province, Pará State, Brazil. The 2025 MRE shows substantial improvements over the previously reported 2023 MRE (See press release October 22, 2023) using the same metal prices and similar other assumptions.

Highlights of Bravo's 2025 MRE at a 0.50 g/t PdEq1 cut-off grade:

- 154% increase in Measured + Indicated contained PdEq1 ounces
- 117% increase in Measured + Indicated tonnes
- 17% increase in Measured + Indicated PdEq1 grades
- 34% increase in Inferred PdEq1 grade
- Measured & Indicated Resources now make up 67% of total resources
Measured + Indicated resources total 158 million tonnes ("Mt") grading 2.04 grams per tonne ("g/t") PdEq1, for a total of 10.4 Moz of PdEq1 contained.The MRE introduces Measured mineral resource for the first time. The combined Measured + Indicated tonnes have improved by 117% as compared to the Indicated tonnes in the 2023 MRE, while grade has improved by 17%, resulting in a 154% increase in contained PdEq1 ounces.
Inferred Resources of 78 Mt grading 2.01 g/t PdEq1 for 5.0 Moz PdEq1.Tonnes of Inferred resources decreased, as most of previous Inferred tonnages were reclassified to higher-confidence categories while new Inferred resources were added beyond the limits of the prior MRE, and grades improved by 34% in the Inferred category.
Measured & Indicated Resources now make up 67% of total MRE, a significant improvement from the 2023 MRE where 38% of the mineral resource was in the Indicated category.
Relative percentages of each metal by PdEq1 value contribution to the MRE, are estimated at: 47% Pd, 25% Pt, 13% Rh, 13% sulphide Ni, and 2% Au.
2025 MRE outcome was achieved using the same metal prices as the prior MRE, somewhat more conservative metallurgical recoveries and otherwise similar modifying factors.
The MRE remains open at depth along the 8.1km strike of the deposit, with many of the areas below current drilling depths are considered l within potential open pit extraction depths.

"The delivery of our 2025 MRE update is a significant achievement by our team. We have exceeded our own expectations for resource growth in declared tonnes, grade and contained metal, with a considerable increase to the confidence levels in resource categories. The 2025 MRE firmly establishes our Luanga Project as one of the few large-scale, multi-million-ounce, open-pit PGM deposits available globally, in mining friendly, geopolitically favourable locations", said Luis Azevedo, Chairman and CEO. "Centrally located in the Americas and within reach of major PGM consumers, Luanga also stands out for having access to all essential infrastructure for mining development and operations, including access to cost-efficient renewable power, highways, rail, ports and a skilled mining workforce. With strong community support, as evident in our successful recent public hearing for the permitting process, Bravo Mining is well positioned for continued success, complemented by our continuing copper exploration."

_________________________________
1	For grades by individual metals, see Table 1 below, where the footnotes also detail the basis of the PdEq1 calculation

2025 MRE Details:

Bravo's 2025 pit constrained MRE has an effective date of February 18, 2025, and it is comprised of 158 Mt grading 2.04 g/t PdEq1 for a total of 10.4 Moz of PdEq1 in the Measured + Indicated category, and 78 Mt grading 2.01 g/t PdEq1 for 5.0 Moz PdEq1 in the Inferred category. Table 1 shows a breakdown of the MRE by tonnage, grade and metal content for each metal, weathering type, and resource classification category. Mineral resources that are not mineral reserves do not have demonstrated economic viability. There is no certainty that all mineral resources will be converted into mineral reserves. This MRE includes Inferred Mineral Resources which have had insufficient work to classify them as Indicated mineral resources. It is uncertain but reasonably expected that Inferred mineral resources could be upgraded to Indicated mineral resources with continued exploration.

Resource Classification	Weathering	Average Grades and Contained Metal Estimates
		Tonnes	PdEq1		Pd		Pt		Rh		Au		Ni
		Mt	g/t	Oz	g/t	Oz	g/t	Oz	g/t	Oz	g/t	Oz	%	Tonnes
Measured	Oxide	4	1.51	197	0.90	117	0.88	115	0.12	15	0.05	7	—	—
	High talc	—	—	—	—	—	—	—	—	—	—	—	—	—
	Fresh Rock	32	2.06	2,144	0.97	1,009	0.67	694	0.08	88	0.04	46	0.11	35,282
	Total	36	2.00	2,340	0.96	1,126	0.69	809	0.09	104	0.04	53	0.10	35,282
Indicated	Oxide	6	1.51	314	0.97	200	0.73	151	0.11	23	0.04	9	—	—
	High talc	2	1.83	146	1.12	89	0.54	43	0.08	6	0.11	9	0.13	3,160
	Fresh Rock	113	2.09	7,599	0.99	3,583	0.59	2,133	0.09	318	0.05	193	0.14	156,406
	Total	122	2.06	8,058	0.99	3,872	0.59	2,326	0.09	348	0.05	210	0.13	159,566
Measured + Indicated	Oxide	10	1.51	510	0.94	317	0.79	266	0.11	38	0.04	15	—	—
	High talc	2	1.83	146	1.12	89	0.54	43	0.08	6	0.11	9	0.13	3,160
	Fresh Rock	145	2.08	9,743	0.98	4,592	0.60	2,827	0.09	407	0.05	239	0.13	191,688
	Total	158	2.04	10,399	0.98	4,998	0.62	3,135	0.09	451	0.05	262	0.12	194,848
Inferred	Oxide	3	1.57	130	0.88	73	1.04	86	0.13	11	0.05	4	—	—
	High talc	0.1	1.76	5	1.08	3	0.53	2	0.07	0	0.10	0	0.14	133
	Fresh Rock	75	2.02	4,878	0.97	2,344	0.58	1,389	0.08	191	0.05	123	0.13	97,586
	Total	78	2.01	5,013	0.97	2,421	0.59	1,476	0.08	202	0.05	128	0.13	97,719

Table 1: MRE Declaration at a Cut-off of 0.5g/t PdEq1*

* Notes:
1.	The MRE has been prepared by Bernardo Horta de Cerqueira Viana, Geologist, BSc (Geology), FAIG, CEO of GE21 Consultoria Mineral Ltda. and Porfírio Cabaleiro Rodriguez, Mining Engineer, BSc (Mine Eng), FAIG, CKO of GE21 Consultoria Mineral Ltda., both independent Qualified Person ("QP") for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). The effective date of the MRE is 18 February 2025.
2.	Mineral resources are reported using the 2014 CIM Definition Standards and were estimated in accordance with the CIM 2019 Best Practices Guidelines, as required by National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101").
3.	The MRE Estimate is reported/confined within an economic pit shell generated by Dassault Geovia Whittle software, using the following assumptions:
	Generated from work completed by Bravo and historical test work: Metallurgical recovery in sulphide material of 77% Pd, 81% Pt, 51% Rh, 48% Au, 50% Ni to a Ni-PGM concentrate. Metallurgical recovery in oxide material of 81% Pd, 23% Pt, 54% Rh, 90% Au to a PGM ash residue (Ni not applicable). Metallurgical recovery in high-talc sulphide material of 51% Pd, 55% Pt, 27% Rh, 27% Au, 50% Ni to a Ni-PGM concentrate. Independent Geotechnical Testwork – Overall pit slopes of 40 degrees in oxide and 50 degrees in Fresh Rock. Densities are based on 27,170 drillhole core and 112 in situ samples density measurements. The Mineral Resources are reported on a dry density basis. External downstream payability has not been included, as the base case MRE assumption considers internal downstream processing, with operating costs for downstream processing included in the calculation of the 0.5g/t PdEq1 cut-off used for the declared MRE. Payable royalties of 2%. Metal Pricing For the 2025 MRE, the same pricing regime has been used, as there have been no significant changes in prices. This also allows for a direct comparison between the new 2025 MRE and the now superseded 2023 model (a 10-year trailing average – 2014-2023): Pd price of US$1,380/oz, Pt price of US$1,100/oz, Rh price of US$6,200/oz, Au price of US$1,500/oz, Ni price of US$7.10/lb. Palladium Equivalent ("PdEq1") Calculation: The PdEq equation is: PdEq1 = Pd g/t + F1 + F2 + F3 + F4 Where: F1 = (PtpPtR)/(PdpPdR) Ptt F2 = (RhpRhR)/(PdpPdR) Rht F3 = (AupAuR)/(PdpPdR) Aut F4 = (NipNiR)/(PdpPdR) Nit P = Metal Price R = Metallurgical Recover Costs are taken from comparable projects in GE21's extensive database of mining operations in Brazil, which includes not only operating mines, but recent actual costs from what could potentially be similarly sized operating mines in the Carajás. Costs considered a throughput rate of ca. 10Mtpa. Mining costs: US$2.00/t oxide, US$3.00/t Fresh Rock. Processing costs: US$9.00/t fresh rock, US$7.50/t oxide. US$1.50/t processed, for General & Administration. US$1.00/t processed for grade control. US$0.50/t processed for rehabilitation. Several of these considerations (metallurgical recovery, metal price projections for example) should be regarded as preliminary in nature, and therefore PdEq1 calculations should be regarded as preliminary in nature.
4.	The current MRE supersedes and replaces the Previous Estimate (2023), which should be no longer relied upon.
5.	The QP is not aware of political, environmental, or other risks that could materially affect the potential development of the Mineral Resources other than those typical for mining projects at this stage of development, including those listed in the Technical Report dated October 22nd, 2023 and in the Company's Annual Information Form dated April 22nd, 2024.
6.	Totals may not sum due to rounding.

Luanga Mineral Resource Estimate

The Luanga deposit mineral resource database consists of 531 drillholes (Bravo + historic drilling) inside the Luanga deposit, with 108,343 metres of drilling between 1992 to 2025. This database includes 107,516 metres of assayed drill intervals at an average interval of approximately 1m per assay interval.

All assayed drill interval lengths of core used in the mineralized domains are HQ diameter diamond drill core in the oxide and NQ2 diameter diamond drill core in fresh rock.

All historic data used for the MRE has been validated statistically to show no significant bias, either by twinned drillholes, extensive re-sampling and assaying of historic drill core, statistical comparison of historical data with Bravo drilling, and by field validation of collar locations. In addition, the MRE included sample assay results from 45 trenches for 8,714 metres and 9,355 assays at an average sampling interval approximately to 1m.

Thirteen mineralized style domains were generated based on position in deposit and geological and metallurgical behaviour, with most of the tonnage contained within the Main Sulphide Zone.

There are no known issues that materially affect the MRE, other than the usual risks faced by any mining project in Brazil or other jurisdictions, such as the risks and uncertainties inherent in mineral exploration and development, environmental, permitting, taxation, socio-economic, marketing, political factors or any additional risks listed in the Technical Report dated October 22nd, 2023, the Company's Annual Information Form April 22nd, 2024 and "Forward-Looking Statements" section in this news release.

The metallurgical recovery assumptions for the 2025 MRE have been based on results generated from multiple phases of laboratory-scale metallurgical test work including approximately 150 flotation tests conducted for Bravo Mining (2022 – 2025) at independent laboratories in Brazil and Canada.

Oxide recoveries used in the MRE calculation are based on results generated from exploratory and detailed parameter leaching programs (2022 – 2024) performed for Bravo through independent laboratories in Brazil. Refer to Schedule 2 of this press release for further details.

Metal price assumptions were previously derived in the 2023 MRE from the 10-year trailing price averages to smooth out volatility and price cycle movement in each of these metals. For the 2025 MRE, the same pricing regime has been used, as there have been no significant changes in prices. This also allows for a direct comparison between the new 2025 MRE and the now superseded 2023 model.

The current 2025 MRE supersedes and replaces the previous estimate (2023), which should be no longer relied upon.

For illustration purposes, the pie chart below (Figure 1) shows the relative percentages of metal value contribution to the Luanga MRE using 'grade x metallurgical recovery x metal price' for each metal.

Figure 1: Metal Value Contribution Per Element in the 2025 MRE. (CNW Group/Bravo Mining Corp.)

Based on recoveries and GE21's estimates of costs, a cut-off grade ("COG") of 0.5 g/t PdEq1 was determined for reporting the base case of the MRE. Refer to Schedule 1 of this press release for further details on the factors contributing to the COG estimate. A sensitivity analysis of the COG on the MRE, from 0.1 to 1.0 g/t PdEq1, in increments of 0.1 g/t is shown in Table 2.

MEASURED + INDICATED			INFERRED
PdEq1 Cut-off grade	Tonnes	Recovered Pd/Eq1	PdEq1 Cut-off grade	Tonnes	Recovered Pd/Eq1
(g/t)	Mt	(g/t)	(g/t)	Mt	(g/t)
0.1	165	1.97	0.1	80	1.96
0.2	164	1.99	0.2	79	1.97
0.3	162	2.00	0.3	79	1.98
0.4	161	2.02	0.4	79	1.99
0.5	158	2.04	0.5	78	2.01
0.6	147	2.15	0.6	74	2.07
0.7	134	2.30	0.7	67	2.23
0.8	124	2.43	0.8	57	2.48
0.9	118	2.52	0.9	54	2.59
1.0	115	2.55	1.0	53	2.61

Table 2: MRE Sensitivity (grade/tonnes/cut-off) with a 0.5g/t PdEq1 selected for the base case.

*Notes:
	See footnotes below Table 1 on Page 2. The PdEq1 calculation (as defined by the formula in the footnotes below Table 1) includes metallurgical recovery for each metal. Therefore, the PdEq1 grade is one that has a reasonable expectation of what can be recovered after allowing for mining and processing costs and recoveries.

Figure 2: Oblique View of Luanga 2025 MRE PdEq1 grade distribution within constraining pit shell, over 8.1km of Strike. (CNW Group/Bravo Mining Corp.)Figure 3: Oblique View of Luanga 2025 MRE within Constraining pit shell, showing resource classification distribution over 8.1km of Strike. (CNW Group/Bravo Mining Corp.)

Mineral Resource growth potential

The Company believes that there is further potential to increase this updated MRE at Luanga, as follows:

The mineralization is open at depth along the entire 8.1km of strike.
The 2025 MRE generally extends to drilled depths that align with the depths of the Phase 1, 2, 3 and 4 drilling, typically up to 400m below surface in the Central Sector (Figure 4) and approximately 250 metres from surface in the North (Figure 4) and Southwest Sectors and is largely untested below those depths.
This depth potential can be seen in section in Figure 4, where modelling of Inferred resource block on this section is supported by deeper drilling on the sections on either side, leaving opportunity to further extend mineralization at depth and, on this section (Figure 4), the opportunity to convert Inferred resources to a higher category with infill drilling.
There are few drill holes that extend below the 2025 MRE constraining pit shell. Drilling in the Phase 1 (completed) program targeted the depth extent of historical drilling (typically up to ~150m), while the Phase 2, 3 and 4 programs tested the extensions of mineralization to >250m below surface. To date, only the Central Sector drilling has reached depths of >300m below surface, with the constraining pit shell still reaching or passing the limit of the drill data (Figure 4). The section shown in Figure 4 in the Central Zone is one of the deepest parts of the 2025 MRE constraining pit shell.
The cross-section in Figure 5 (Southwest Sector) also shows how the lack of data at depth is restricting the potential for MRE extensions at depth.
Similarly, in Figure 3, the interpreted continuation of mineralization at depth (unclassified, coloured grey) also demonstrates where deeper drilling is required.

Figure 4: 2025 MRE Section Central Sector. Deepest part of the MRE, showing opportunity to convert additional high-grade Inferred blocks at depth in the MSZ, where blocks are supported by deeper drilling on adjacent sections. Mineralization remains open at depth. (CNW Group/Bravo Mining Corp.)

Many of the deeper drill holes completed by Bravo, the deepest on their individual sections (See examples in press release February 10, 2025), intersected wider and higher-grade mineralization intervals than typical of the MRE. This indicates potential for higher grades and greater widths of mineralization below the limit of the current MRE, with potential for additional tonnage.
Some of Bravo's drilling has also intersected mineralized horizons stratigraphically above or below the Main Sulphide Zone ("MSZ"). However, existing drilling in the 2025 MRE does fully test some of these other zones, or their extensions at depth (Figure 5). As a result, they are relatively minor contributors to the 2025 MRE, and present further opportunity, as these mineralized zones may develop into more significant contributors in the future.

Figure 5: 2025 MRE Section Southwest Sector, showing MRE constraining pit shell reaching the limit of drilling data, and the presence of additional mineralized zones stratigraphically higher. (CNW Group/Bravo Mining Corp.)

About Bravo Mining Corp.

Bravo is a Canadian and Brazil-based mineral exploration and development company focused on advancing its PGM+Au+Ni Luanga Project, as well as our Cu-Au exploration opportunities in the world-class Carajás Mineral Province, Para State, Brazil.

Bravo is one of the most active explorers in Carajás. The team, comprising of local and international geologists and engineers, has a proven track record of PGM, nickel, and copper discoveries in the region and elsewhere. The individuals in the team have successfully taken a past IOCG greenfield project from discovery to development and production in the Carajás.

The Luanga Project is situated on mature freehold farming land and benefits from being located close to operating mines and a mining-experienced workforce, with excellent access and proximity to existing infrastructure, including road, rail, ports, and hydroelectric grid power. Bravo's current Environmental, Social and Governance activities includes planting more than 30,000 high-value trees in and around the project area in the past 30 months, while hiring personnel and contracting services locally.

Technical Disclosure

Technical Disclosure and Qualified Persons

Bernardo Horta de Cerqueira Viana, Geologist, BSc (Geology), FAIG, CEO of GE21 Consultoria Mineral Ltda. and Porfírio Cabaleiro Rodriguez, Mining Engineer, BSc (Mine Eng), FAIG, CKO of GE21 Consultoria Mineral Ltda., both are an Independent QP as defined in NI 43-101 and are responsible for the MRE. Independent peer reviews were carried out internally within the GE21 Group, over the complete MRE process.

The technical assurance program developed and implemented for the 2023 MRE process (See press release for details October 22, 2023), has operated continuously, with the same procedures and protocols in practice since implementation, and thus applied here to the 2025 MRE.

Mr. Cabaleiro has reviewed and approved the scientific and technical information related to the MRE contained in this news release.

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

Details of the MRE will be provided in a technical report with an effective date of February 18, 2025, prepared in accordance with NI 43-101, which will be filed under the Company's SEDAR+ profile within 45 days of this news release.

For further information about Bravo, please visit www.bravomining.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.

Forward Looking Statements

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "believes", "substantial", ''improve", ''increase", ''significant", ''expectations ", ''considerable", ''increase", ''favourable", ''well-positioned", ''success ", ''potential ", ''opportunity", variants of these words and other similar words, phrases, or statements that certain events or conditions "could", "may" or "will" occur. This news release contains forward-looking information pertaining to the Company's 2025 MRE update; that the mineral resource remains open at depth, the potential for future MRE growth from deeper drilling, and/or additional zones and/or drilling of geophysical targets; potential repeatability and improvements to the economic assumptions and/or to metallurgical recoveries used in the MRE; the potential to convert some or all of the MRE to mineral reserves through economic studies and the results of any such studies; the assumption that onsite downstream processing will be technically and economically feasible; the outcomes of future economic studies and the Company's plans in respect thereof. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, unexpected results from exploration programs, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage; and other risks and uncertainties involved in the mineral exploration and development industry. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including, but not limited to, the assumption that the assay results confirm that the interpreted mineralization contains significant values of nickel, PGMs and Au; that the mineralization remains open at depth, that PGM and/or Ni grades and mineralized thicknesses are improving at depth; that activities will not be adversely disrupted or impeded by regulatory, political, community, economic, environmental and/or healthy and safety risks; that the Luanga Project will not be materially affected by potential supply chain disruptions; and general business and economic conditions will not change in a materially adverse manner. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

Cautionary Note for U.S. Investors Concerning Mineral Resources

This news release has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of United States securities laws. The terms "mineral resource", "measured mineral resource", "indicated mineral resource" and "inferred mineral resource" are defined in and required to be disclosed by NI 43-101; however, these terms are not defined terms under the U.S. Securities and Exchange Commission ("SEC") modernization rules, known as "S-K 1300", and are normally not permitted to be used in reports and registration statements filed with the SEC. Investors are cautioned not to assume that all or any part of an "measured mineral resource", "indicated mineral resource" or "inferred mineral resource" will ever be upgraded to a higher category or converted into mineral reserves in accordance with S-K 1300. "Inferred mineral resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Investors are cautioned not to assume that all or any part of an inferred mineral resource exists or is economically or legally mineable. Disclosure of "contained ounces" in a mineral resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute "reserves" by SEC S-K 1300 standards as in place tonnage and grade without reference to unit measures. Accordingly, information contained in this News Release contain descriptions of the Company's mineral deposits that may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the United States federal securities laws and the rules and regulations thereunder.

Schedule 1: Key Assumptions and Methods Used for the MRE

Variography and Interpolations

Grade estimation for sulphide material was completed using the E-type post-processing of the conditional TBS for each element and each domain. 50 simulations with 400 bands were performed. Raw Variography and raw histogram were validated according to the TBS simulation. No grade variables were capped. The simulations are compared and validated with the OK methodology and Nearest Neighbor Estimation.

The conditional TBS was performed in a block size of 2.5mx2.5mx2.5m and was upscaled for a parental block model of 25mx25mx5m. The parental block model was then sub-blocked with a minimum block size of 3.125m m x 3.125 m x 1.25 m. Grade estimation for oxide material was completed using the OK technique for each element and each domain in the parental block size.

Cut-off Grade

The PdEq1 COG of 0.5 g/t was calculated by taking the all-in cost (oxide and fresh rock) and dividing them by the value of one gram of Pd multiplied by metallurgical recovery. From this a global average COG of 0.5 g/t PdEq1 was calculated.

COG (PdEq1)
Oxide		Units
Costs	14.0	US$/t
DGV1	31.95	US$/g
Cut-Off	0.43	PdEq1/ g/t
Downstream OPEX allowance	14	%
2025 Cut-off	0.49	PdEq1/ g/t
High Talc		Units
Costs	16.0	US$/t
DGV1	35.5	US$/g
Cut-Off	0.44	PdEq1/ g/t
Downstream OPEX allowance	14	%
2025 Cut-off	0.50	PdEq1/ g/t
Fresh		Units
Costs	16.0	US$/t
DGV1	35.5	US$/g
Cut-Off	0.44	PdEq1/ g/t
Downstream OPEX allowance	14	%
2025 Cut-off	0.50	PdEq1/ g/t
Avg Cut-off	0.5	PdEq1/ g/t

1 Deposit Grade Value ("DGV") = (P-Pd/31.1035) * R-PdWhere: P-Pd = Palladium Price in US$/oz,R-Pd = Palladium Metallurgical Recovery

Classification of Mineral Resource

A study of spatial continuity for Pd was conducted using variography and conditional simulation to classify mineral resources.

This study established a continuity zone suitable to consider as "Measured Mineral Resources," with a drilling grid of approximately 45m x 45m, requiring a minimum of 3 drillholes in perpendicular sections.

Establishing a continuity zone of "Indicated Mineral Resources" was considered with a drilling grid of approximately 75m x 75m, with a minimum of 2 drillholes in perpendicular sections. Subsequently, manual post-processing was undertaken to construct wireframes representing the volumes categorized as Measured and Indicated while considering the blocks within the resource pit shell. Any remaining blocks within the resource-limiting pit were classified as "Inferred Mineral Resources."

Reasonable Prospect for Eventual Economic Extraction

The reported MRE is pit-constrained, using Whittle software to create a pit shell with reasonable prospects for eventual economic extraction. Relevant parameters used in the MRE are shown below the MRE table and include commodity prices used, metallurgical recoveries, geotechnical assumptions, and cost structures.

Further, no known environmental or community matters are likely to constrain the future extraction of the reported MRE.

Schedule 2: Metallurgical Analysis

Metallurgical recoveries used in the MRE calculation are as follows:

Sulphide (Fresh rock) recovery inputs: Pt 81%, Pd 77%, Rh 51%, Au 48%, Ni 50% (for an ≥80g/t concentrate).
High talc recovery inputs: Pt 55%, Pd 51%, Au 27%, Rh 27%, (for an ≥80g/t concentrate).
Oxide recovery inputs: Au 90%, Pd 81%, Rh 54%, Pt 23% (for an ≥80g/t concentrate).

Fresh rock recoveries used in the 2025 MRE calculation are based on results generated from multiple phases of laboratory flotation testwork performed by Bravo (117 flotation tests) and three programs of historical flotation testwork, including two historical pilot plant tests. Results indicate that Luanga mineralization has the metallurgical character to potentially produce saleable PGM + sulphide Ni concentrates at grades in line with grades achieved for PGM operators in established jurisdictions around the world, including concentrate grades of ≥80g/t PGM, 5-10% Ni + Sulphur of 15–20%, at the feed grade range of 2g/t PGM.

Bravo testwork considered geospatially representative samples with feed grades ranging from 0.9 – 7.0 g/t PdEq1. Final concentrate grades produced in the Bravo test work ranged from 37–475 g/t PGM. Metallurgical recovery assumptions are based on target concentrate grade of 80g/t.

Input assumptions for the generation of the MRE constraining pit were derived from a grade-recovery curve based on relevant results generated from the 2022 – 2024 test work programs. Where applicable, specific recoveries have been assigned to geological domains that demonstrate materially different metallurgical character and performance relative to the general mineralization observed across the Luanga deposit.

Mini plant tests were also conducted to generate a wide spectrum of concentrate chemistries for pyrometallurgical evaluation. Metallurgical data generated from the mini plant tests were further incorporated into the MRE assumptions. The sample source for the mini plant were inherited, historical, large diameter diamond cores, drilled into a localized, high talc zone in the SW sector of the Luanga deposit. Recoveries achieved were broadly in line with current assumptions (73% 4E PGM) but due to high talc contamination, target concentrate grade was not achieved under the utilised circuit configuration (35g/t). Recovery assumptions for the high talc zone were domained separately, while recoveries for all other zones are based on an 80g/t concentrate.

The resultant reduced metallurgical recovery assumption of 51% (4E PGM) was assigned to the high talc domain.

Oxide recoveries used in the MRE calculation are based on results generated from two programs (2022 – 2024) of conventional leaching test work performed for Bravo.

The conceptual oxide processing flowsheet has been validated at each processing stage through testwork, including: PGM and Au solubility in the presence of cyanide at ambient temperature/pressure and within reasonable reagent dosage conditions; PGM and Au adsorption onto carbon; Final product generation as saleable high grade PGM ash residue ("ashing" or "ashed" is the burning of the loaded carbon for final mass reduction to an ultra-high grade ash residue) with an assayed average grade of 119,100g/t PGM (or 11.91% PGM). Bravo's current data demonstrates a reasonable probability for economic recovery of PGM from oxide material at Luanga through conventional cyanide leaching, carbon-in-leach extraction, and high grade 'ashed' residue production. The recommendations for oxide metallurgical input into the MRE are based on laboratory-generated data for each stage of processing to a final product, from the Luanga 2022 – 2024 programs. Key factors that have contributed to successful recovery of PGM from oxide material include:

Intense host rock weathering in oxide and a high degree of naturally liberated PGM, contributing to lower mining and comminution costs.
High degree of solubility in cyanide, particularly for Pd and Au.
High PGM absorption kinetics and recovery for PGM onto carbon.

Details of the metallurgical programs and their results will be documented in the Technical Report prepared in accordance with NI 43-101, which will be filed under the Company's SEDAR profile within 45 days of this news release.

Schedule 3: Geological Interpretation

The Luanga Complex is a 6km long and up to 3.5km wide (~18km²) mafic-ultramafic layered intrusion that belongs to the Neoarchean Large Igneous Province ("LIP") of the Carajás Mineral Province. Host rocks of the Luanga Complex consist of highly foliated gneisses and migmatites of the Xingu Complex and mafic volcanics plus iron formations of the Grão Pará Group. The igneous layers have consistent steep dips to the SE in the Central and Southwestern portions of the complex, indicating that the layered sequence is tectonically overturned. The Luanga complex is up to 3,500m thick in the central portion of the complex, which is likely to represent the axial portion of the original magma chamber. Metamorphic assemblages are at the transition of greenschist to amphibolite facies and commonly replace the primary igneous minerals of the Luanga complex. This metamorphic alteration is heterogeneous, largely preserving primary textures, bulk rock compositions and the compositional domains of igneous minerals, thus allowing the identification of primary rocks throughout the intrusion. The layered sequence is subdivided based on the different type and/or proportion of cumulus minerals in three zones, Ultramafic Zone ("UZ"), Transition Zone ("TZ") and Mafic Zone ("MZ").

The UZ is up to 800m thick and consists of wehrlite (Olivine ("Ol") + Clinopyroxene ("Cpx") cumulates) and lesser dunite and Cpx. The contact of the UZ with the stratigraphically overlying TZ is indicated by a few meters thick upward transition from Cpx bearing cumulates to Opx bearing cumulates (orthopyroxenite ("Opx") and minor harzburgite("Hz")) in the TZ. Typically, ultramafic rocks of the TZ are partially to extensively altered, consisting mainly of serpentinites. The UZ follows the stratigraphy of the Luanga complex but at the northern portion the UZ occurs as discordant irregular zones of variably altered ultramafic cumulates within host rocks.

The TZ consists of an up to 500m thick pile of interlayered ultramafic and mafic cumulate rocks. Interlayering of different rock types is a distinctive feature of the TZ. Cumulate rocks have variable textures, from adcumulate to orthocumulate, and variable assemblages of cumulus and intercumulus minerals. The most common rock types are Opx and lesser interlayered norite and Hz. Chromitite layers with variable thickness (commonly 10cm but up to 60cm) and textures occur mainly in the upper portions of the TZ and the lowermost portion of the MZ. Chromitites are fine- to medium-grained chromite cumulates with variably altered intercumulus plagioclase ("Pl") and orthopyroxene.

The MZ, about 5km long and up to 1.5km thick, comprises a thick monotonous pile of noritic rocks. Norite (Opx + Pl cumulate) consists of medium-grained massive rocks variably altered to fine-grained aggregates consisting mainly of amphiboles (hornblende-actinolite), chlorite and epidote-group minerals. Minor interlayered ultramafic rocks in the MZ, including Opx and minor chromitite, have petrographic features like those described in the TZ.

The Luanga mineralized envelope is continuous along the arc-shaped structure of the mafic-ultramafic complex, striking for approximately 8.1km. The deposit is subdivided into three separate mineralized sectors, named North, Central and Southwestern. The mineralized envelope of the Luanga Complex hosts several PGM mineralized zones, including the Main Sulphide Zone ("MSZ"), which hosts the bulk of current mineral resources. Other mineralized zones are identified within the UZ, the TZ, as well as mineralization hosted in chromitites layers or lenses distributed within the TZ and the immediate contact with the overlying MZ.

Mineralized zones of the Luanga complex are grouped into six different styles of PGM mineralization: (1) MSZ; (2) Low Sulphide Zone ("LSZ"); (3) Chromite-associated Zone ("Chr-PGM"); (4) Ni-Rh Sulphide Zone ("Ni-Rh"); (5) Sulphide Zone ("SZ") and (6) Massive Sulphides ("MASU").

MSZ: PGM mineralization associated with disseminated sulphides in the MSZ hosts the bulk of PGM+Au+Ni mineral resources of the Luanga complex. The stratigraphic interval hosting the MSZ consists of a 10–50m thick interval with disseminated sulphides located along the contact of the UZ and TZ. The MSZ is stratabound-style PGM mineralization consisting of interstitial sulphides (~1-5 vol.%) hosted by Opx and minor Hz. The MSZ is characterized by very high Ni tenors (10-15%) and Pt-Pd (up to 100 ppm) tenors (content of 100% sulphides), Pt/Pd < 0.5, and Pd/Rh ~0.05.

Low Sulphide Zone ("LSZ"). The LSZ style of mineralization comprises PGM-mineralized rocks devoid of base metal sulphides and/or abundant chromite. The LSZ mineralization of the Luanga Complex consists of up to 30m thick stratabound zones across the TZ. These zones do not show extensive lateral continuity and commonly occur at the contact between layers of distinct cumulate rocks. The host rocks, mainly Hz and Opx, do not show any distinctive texture or change in modal composition that characterizes the PGM enrichment. The LSZ is characterized by very low Ni content, Pt-Pd contents < 1-2 ppm, and Pt/Pd ~ 1.0-2.0. Pt-Pd show moderate to strong positive correlation.

Chromite-associated Zone ("Chr-PGM"). Chr-PGM mineralization occurs as chromitite pods (< 60cm thick) closely associated with intersections containing disseminated clusters of chromite within Opx, Hz and norite. The Chr-PGM style of mineralization is characterized by very low Ni content, high Pt/Pd ratio (~4.0), and Rh/Pt ~0.3.

Ni-Rh Sulphide Zone ("Ni-RhZ"). The Ni-RhZ mineralized zone has been identified only within the UZ and occurs as lenses of disseminated to net-textured sulphides (up to 25%) interstitial to cumulus Cpx and Ol or their pseudomorphs. Ni-Rh zones have variable thicknesses (up to 40 m) and are commonly hosted by interlayered wehrlite and dunite, and minor clinopyroxenite. Ni-RhZ mineralization has Pt/Pd and Rh/Pd ratios of around 0.15 and 0.20, respectively. The high modal percentage of pentlandite (i.e. around 30-40% of the total sulphides) indicates very high Ni tenor (~10-12%) for the Ni-Rh zones.

Sulphide Zone ("SZ"). The SZ mineralization style is recognized exclusively in the Northern sector, characterized by mineralized bands of variable thickness hosted in rocks of the TZ. SZ occurs as several irregular north-south trending zones of disseminated sulphides hosted mainly in Opx. The SZ is characterized by moderate to high PGM contents (30-40 m intercepts with 2-3 g/t of Pt + Pd) with predominantly low Pt/Pd ratios (commonly < 0.5, but up to 1.0) and variable Ni contents (up to 0.20%). Weak positive correlation between Pd-Ni and Pd-Rh possibly results from variably altered sulphides.

(vI) Massive Sulphide Zone ("MASU"). The MASU is a new zone and style of mineralization identified by Bravo during infill drilling. A robust intercept of MASU (DDH22LU047 – 11m at 4.24 g/t 3PGM+Au, 2.04% Ni, 1.23% Cu) occurs within a hydrothermal alteration zone at the eastern border of the North sector. Host rocks and the footwall sequence of the MASU intercepted in DDH22LU047 consist of massive rocks with variable proportions of amphibole-garnet-biotite-magnetite, and banded iron formation. Sulphide-bearing Opx and interlayered norite occur above the MASU and in adjacent drill holes. Cumulate rocks close to the alteration zone are partially to pervasively replaced by Fe-Ca-K hydrothermal minerals, including MASU to semi-MASU breccias. Sulphides consist mainly of pyrrhotite (~80-90%) and pentlandite (~10-20%) with local chalcopyrite-rich domains (up to 60-70% cpy). Pentlandite occurs mainly associated with po as fine-grained exsolutions (e.g., flames, flakes). MASU has variable contents of Ni, Cu and PGM, generally with Ni>Cu and Pd>Pt. Except for the broad positive correlation between Ni and Pd, correlations between metals are only subtle, including Pd-Pt, Ni-Cu and Pd-Rh. Contents of Ni (< 6.0%), Pd (< 6.0 ppm), Pt (< 2.5 ppm) and Rh (0.2 ppm) in samples of MASU provide approximate tenors for these metals in this style of mineralization.

The bulk of the world's PGM resources are mined from mafic-ultramafic layered intrusions, commonly from stratiform mineralized layers located near the transition from mafic to ultramafic cumulate rocks. Magmatic Ni-Cu-PGM sulphides formed by the accumulation of immiscible sulphide liquid, that scavenged chalcophile elements from a coexisting silicate magma. Textural relationships between sulphides and their host silicates are key evidence for their origin as immiscible sulphide liquids. The magmatic origin of the Luanga deposit is supported by textural and mineralogical features described in different styles of PGM mineralization, particularly the MSZ, Ni-Rh and SZ. In these different PGM zones, sulphide blebs consisting of pyrrhotite + pentlandite ± chalcopyrite are interstitial to cumulus olivine and/or pyroxene. In addition, sulphide blebs enclosed in cumulate crystals, as well as their rounded/corroded faces, provide unequivocal evidence for a magmatic origin of sulphides and PGM. Variable litho-chemical features in PGM zones located in distinct stratigraphic horizons of the Luanga complex, including different metal tenors, as well Pt/Pd and Rh/Pd ratios, indicate that several events of mineralization occurred during the magmatic evolution of the Luanga complex. The occurrence of several mineralized horizons in the Luanga complex, including PGM mineralization hosted in chromitites, has remarkable similarity with reef-type productive deposits (e.g., Bushveld and Stillwater).

The widespread alteration of rocks from the Luanga complex has partially disrupted their primary magmatic features. In the Luanga complex, magmatic silicates are partially altered and commonly occur as pseudomorphs. The magmatic sulphides have also been partially altered during the widespread alteration. The most common alteration of primary sulphides (pyrrhotite – pentlandite – chalcopyrite) consists of their replacement by magnetite and Fe-hydroxides. Because this alteration is heterogeneous at different scales (from mineral crystals up to several hundred meters thick zones) and largely preserves primary textures and compositions of cumulate rocks and PGM mineralized zones, magmatic features can be recognized throughout the layered intrusion.

Schedule 4: Assay Methodologies and QAQC

Samples follow a chain of custody between collection, processing, and delivery to the SGS Geosol laboratory in Parauapebas, state of Pará, Brazil. The drill core is delivered to the core shack at Bravo's Luanga site facilities and processed by geologists who insert certified reference materials, blanks, and duplicates into the sampling sequence. Drill core is half cut and placed in secured polyurethane bags, then in security-sealed sacks before being delivered directly from the Luanga site facilities to the Parauapebas SGS Geosol laboratory by Bravo staff. Additional information about the methodology can be found on the SGS Geosol website (SGS) in their analytical guides. Information regarding preparation and analysis of historic drill core is also presented in the table below, where the information is known. Historical drilling used a similar QAQC procedure, and as described in the section "Luanga Mineral Resource Estimate". Data generated by this work has been validated statistically to show no significant bias, prior to inclusion.

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

Bravo SGS Geosol
Preparation	Method	Method	Method	Method
For All Elements	Pt, Pd, Au	Rh	Sulphide Ni	Trace Elements
PRPCLI (85% at 200#)	FAI515	FAI30V	AA04B	ICP40B
Historic Drill Assaying SGS Geosol
Preparation	Method	Method	Method	Method
For All Elements	Pt, Pd, Au	Rh	TOTAL Ni	Trace Elements
Crushed to <200 mesh	FA30A	FA30B	ICP-117	ICP-117

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

SOURCE Bravo Mining Corp.

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Many investors define successful investing as beating the market average over the long term. But the risk of stock picking is that you will likely buy under-performing companies. We regret to report that long term Zimplats Holdings Limited (ASX:ZIM) shareholders have had that experience, with the share price dropping 54% in three years, versus a market return of about 29%. And over the last year the share price fell 43%, so we doubt many shareholders are delighted. Shareholders have had an even rougher run lately, with the share price down 17% in the last 90 days.

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

View our latest analysis for Zimplats Holdings

There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS).

Zimplats Holdings saw its EPS decline at a compound rate of 76% per year, over the last three years. This fall in the EPS is worse than the 23% compound annual share price fall. So the market may not be too worried about the EPS figure, at the moment — or it may have previously priced some of the drop in. With a P/E ratio of 99.85, it's fair to say the market sees a brighter future for the business.

You can see below how EPS has changed over time (discover the exact values by clicking on the image).

ASX:ZIM Earnings Per Share Growth February 16th 2025

Before buying or selling a stock, we always recommend a close examination of historic growth trends, available here.

What About The Total Shareholder Return (TSR)?

We'd be remiss not to mention the difference between Zimplats Holdings' total shareholder return (TSR) and its share price return. The TSR attempts to capture the value of dividends (as if they were reinvested) as well as any spin-offs or discounted capital raisings offered to shareholders. Dividends have been really beneficial for Zimplats Holdings shareholders, and that cash payout explains why its total shareholder loss of 46%, over the last 3 years, isn't as bad as the share price return.

A Different Perspective

While the broader market gained around 15% in the last year, Zimplats Holdings shareholders lost 43%. Even the share prices of good stocks drop sometimes, but we want to see improvements in the fundamental metrics of a business, before getting too interested. Longer term investors wouldn't be so upset, since they would have made 6%, each year, over five years. If the fundamental data continues to indicate long term sustainable growth, the current sell-off could be an opportunity worth considering. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. To that end, you should learn about the 2 warning signs we've spotted with Zimplats Holdings (including 1 which is a bit concerning) .

Of course Zimplats Holdings may not be the best stock to buy. So you may wish to see this free collection of growth stocks.

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

As U.S. stock markets approach record highs, driven by a deceleration in wholesale inflation and a tempered approach to tariffs, investors are keenly observing opportunities for potential value investments. In this environment, identifying stocks that may be trading below their estimated value can offer strategic entry points for those looking to capitalize on market inefficiencies and long-term growth prospects.

Top 10 Undervalued Stocks Based On Cash Flows In The United States

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Click here to see the full list of 164 stocks from our Undervalued US Stocks Based On Cash Flows screener.

Let’s uncover some gems from our specialized screener.

Advanced Micro Devices

Overview: Advanced Micro Devices, Inc. is a global semiconductor company with a market capitalization of approximately $181.04 billion.

Operations: The company’s revenue is derived from four main segments: Client ($7.05 billion), Gaming ($2.60 billion), Embedded ($3.56 billion), and Data Center ($12.58 billion).

Estimated Discount To Fair Value: 47.9%

Advanced Micro Devices (AMD) is trading significantly below its estimated fair value, suggesting potential undervaluation based on cash flows. The company has demonstrated robust earnings growth, with a 95.4% increase over the past year and forecasts of 32% annual growth. Recent strategic alliances, such as collaborations with CEA and Ocient, enhance AMD’s technological capabilities in AI computing and data analytics. These factors contribute to AMD’s strong position for future revenue expansion amidst ongoing buybacks totaling US$3.31 billion.

NasdaqGS:AMD Discounted Cash Flow as at Feb 2025Sociedad Química y Minera de Chile

Overview: Sociedad Química y Minera de Chile S.A. operates as a global mining company with a market cap of $10.71 billion.

Operations: The company’s revenue segments include Potassium ($255.71 million), Industrial Chemicals ($79.76 million), Iodine and Derivatives ($960.89 million), Lithium and Derivatives ($2.50 billion), and Specialty Plant Nutrition ($941.07 million).

Estimated Discount To Fair Value: 41%

Sociedad Química y Minera de Chile (SQM) is trading at US$40.17, significantly below its estimated fair value of US$68.1, indicating potential undervaluation based on cash flows. Despite a challenging period with declining sales and earnings, the company is forecast to achieve above-average market growth and become profitable in three years. However, current dividends are not well covered by earnings or free cash flows, and debt coverage by operating cash flow remains a concern.

NYSE:SQM Discounted Cash Flow as at Feb 2025TransUnion

Overview: TransUnion is a global consumer credit reporting agency offering risk and information solutions, with a market cap of $18.22 billion.

Operations: The company’s revenue segments include U.S. Markets at $2.48 billion, International at $1.14 billion, and Consumer Interactive at $1.59 billion.

Estimated Discount To Fair Value: 34.6%

TransUnion, trading at US$100.25, is significantly undervalued with a fair value estimate of US$153.25. Despite its debt not being well covered by operating cash flow, the company’s earnings are expected to grow substantially at 29% per year, outpacing the broader market. Recent initiatives include a new consumer platform with Credit Sesame and a share repurchase program worth up to US$500 million, potentially enhancing shareholder value and operational reach in the U.S.

NYSE:TRU Discounted Cash Flow as at Feb 2025Key Takeaways

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Companies discussed in this article include NasdaqGS:AMD NYSE:SQM and NYSE:TRU.

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FMC Corporation's (NYSE:FMC) earnings announcement last week didn't impress shareholders. However, our analysis suggests that the soft headline numbers are getting counterbalanced by some positive underlying factors.

See our latest analysis for FMC

NYSE:FMC Earnings and Revenue History February 14th 2025The Impact Of Unusual Items On Profit

Importantly, our data indicates that FMC's profit was reduced by US$238m, due to unusual items, over the last year. It's never great to see unusual items costing the company profits, but on the upside, things might improve sooner rather than later. When we analysed the vast majority of listed companies worldwide, we found that significant unusual items are often not repeated. And that's hardly a surprise given these line items are considered unusual. Assuming those unusual expenses don't come up again, we'd therefore expect FMC to produce a higher profit next year, all else being equal.

An Unusual Tax Situation

Having already discussed the impact of the unusual items, we should also note that FMC received a tax benefit of US$151m. It's always a bit noteworthy when a company is paid by the tax man, rather than paying the tax man. The receipt of a tax benefit is obviously a good thing, on its own. However, the devil in the detail is that these kind of benefits only impact in the year they are booked, and are often one-off in nature. In the likely event the tax benefit is not repeated, we'd expect to see its statutory profit levels drop, at least in the absence of strong growth. So while we think it's great to receive a tax benefit, it does tend to imply an increased risk that the statutory profit overstates the sustainable earnings power of the business.

Our Take On FMC's Profit Performance

In its last report FMC received a tax benefit which might make its profit look better than it really is on a underlying level. But on the other hand, it also saw an unusual item depress its profit. Considering the aforementioned, we think that FMC's profits are probably a reasonable reflection of its underlying profitability; although we'd be confident in that conclusion if we saw a cleaner set of results. So while earnings quality is important, it's equally important to consider the risks facing FMC at this point in time. Every company has risks, and we've spotted 3 warning signs for FMC (of which 1 is concerning!) you should know about.

Our examination of FMC has focussed on certain factors that can make its earnings look better than they are. But there are plenty of other ways to inform your opinion of a company. For example, many people consider a high return on equity as an indication of favorable business economics, while others like to 'follow the money' and search out stocks that insiders are buying. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks with high insider ownership.

As the U.S. markets react to a hotter-than-expected inflation report, with the Dow and S&P 500 closing lower and treasury yields soaring, investors are increasingly focused on finding stability amidst economic uncertainty. In such volatile times, dividend stocks can offer a reliable income stream, making them an attractive option for those looking to balance their portfolios against market fluctuations.

Top 10 Dividend Stocks In The United States

Name	Dividend Yield	Dividend Rating
Columbia Banking System (NasdaqGS:COLB)	5.29%	★★★★★★
Interpublic Group of Companies (NYSE:IPG)	4.93%	★★★★★★
Peoples Bancorp (NasdaqGS:PEBO)	4.92%	★★★★★★
FMC (NYSE:FMC)	6.33%	★★★★★★
Southside Bancshares (NYSE:SBSI)	4.60%	★★★★★★
Regions Financial (NYSE:RF)	5.94%	★★★★★★
Citizens & Northern (NasdaqCM:CZNC)	5.20%	★★★★★★
First Interstate BancSystem (NasdaqGS:FIBK)	5.87%	★★★★★★
Virtus Investment Partners (NYSE:VRTS)	4.88%	★★★★★★
Archer-Daniels-Midland (NYSE:ADM)	4.51%	★★★★★★

Click here to see the full list of 135 stocks from our Top US Dividend Stocks screener.

We’re going to check out a few of the best picks from our screener tool.

Copa Holdings

Simply Wall St Dividend Rating: ★★★★☆☆

Overview: Copa Holdings, S.A. operates through its subsidiaries to offer airline passenger and cargo services, with a market cap of approximately $3.71 billion.

Operations: Copa Holdings generates its revenue primarily from air transportation services, totaling approximately $3.48 billion.

Dividend Yield: 7.1%

Copa Holdings has a high dividend yield of 7.06%, placing it in the top 25% of U.S. dividend payers, but its dividends have been volatile over the past decade and are not well covered by free cash flows, with a high cash payout ratio of 243.4%. Despite reasonable earnings coverage with a low payout ratio of 37.5%, sustainability concerns persist due to inconsistent dividend history and reliance on non-cash earnings.

NYSE:CPA Dividend History as at Feb 2025EOG Resources

Simply Wall St Dividend Rating: ★★★★☆☆

Overview: EOG Resources, Inc. is engaged in the exploration, development, production, and marketing of crude oil, natural gas liquids, and natural gas across various producing basins in the United States and internationally, with a market cap of approximately $74.09 billion.

Operations: EOG Resources generates revenue of $23.86 billion from its crude oil and natural gas exploration and production activities.

Dividend Yield: 3%

EOG Resources offers a dividend yield of 3.03%, which is lower than the top 25% of U.S. dividend payers. However, its dividends are well-covered by earnings and cash flows, with payout ratios of 29.2% and 36.7%, respectively. Despite trading at a good value relative to peers, EOG’s dividend history has been volatile over the past decade, raising concerns about reliability and stability for income-focused investors. Recent executive changes may impact strategic direction but have no immediate effect on dividends.

NYSE:EOG Dividend History as at Feb 2025FMC

Simply Wall St Dividend Rating: ★★★★★★

Overview: FMC Corporation is an agricultural sciences company that offers crop protection, plant health, and professional pest and turf management products, with a market cap of $4.55 billion.

Operations: FMC Corporation’s revenue segment includes Innovative Solutions, generating $4.25 billion.

Dividend Yield: 6.3%

FMC’s dividend yield of 6.33% ranks in the top 25% of U.S. dividend payers, supported by stable and growing payments over the past decade. The dividends are well-covered by earnings (payout ratio: 72%) and cash flows (cash payout ratio: 48%). However, FMC’s recent financial performance shows a decline in profit margins and net income, with debt not fully covered by operating cash flow. Recent amendments to its $2 billion credit facility address leverage and interest coverage ratios.

NYSE:FMC Dividend History as at Feb 2025Turning Ideas Into Actions

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NOTRE-DAME-DU-LAUS, QC, Feb. 11, 2025 /CNW/ – Canada Carbon Inc. (the "Company" or "CCB") (TSXV: CCB), in collaboration with the Municipality of Notre-Dame-du-Laus ("NDL"), held a meeting of the Asbury Community Advisory Committee (the "Committee"). This was the second meeting of the Committee, which met for the first time in May 2024.

The Committee was set up to encourage NDL residents to collaborate and participate in the harmonious development of the Asbury graphite mine project (the "Project"), for the benefit of the entire community, the environment and the regional economy. Its mission is to submit recommendations to the Company to foster a transparent development process for the Project, ensure the adoption of best practices, and propose actions and initiatives based on the community's recommendations.

The meeting was an opportunity for the Company to provide an update on the Project's progress, to inform the Committee of the various work that has taken place in recent months, and to present the Project's next steps and deadlines. For its part, the Municipality reiterated its desire to collaborate with the Company, as well as to act as a channel of communication with all its taxpayers regarding the next steps.

At the end of the meeting, it was agreed to combine the Committee's next meeting with a citizens' information meeting, to enable NDL residents to ask questions and express their opinions on the project and its development.

"This new meeting of the Community Advisory Committee reiterates the commitment of the Municipality of Notre-Dame-du-Laus to foster collaboration and citizen participation in Canada Carbon's Asbury project. This is what we will continue to do, with the aim of maximizing the positive spin-offs for all our fellow citizens.", commented Yves Plouffe, deputy mayor of Notre-Dame-du-Laus.

"I would like to thank the members and the municipality for their participation and would like to underline the quality of the constructive and collaborative exchanges between the community of Notre-Dame-du-Laus and Canada Carbon. These discussions demonstrate a shared commitment to a transparent approach that respects everyone. Our goal remains to foster ongoing dialogue and build a lasting partnership that benefits the entire community.", said Ellerton Castor, President and CEO of Canada Carbon.

Graphite plays an essential role in the energy transition, as well as in the manufacture of lithium-ion batteries, which are vital to the electrification of transportation and the economy. This critical mineral can enable Quebec to make further progress in its electrification policies, in its efforts to combat climate change and to secure a crucial resource in the current geopolitical context.

About Notre-Dame-du-LausThe Municipality of Notre-Dame-du-Laus is part of the Antoine-Labelle MRC, located in the Laurentians region. Located in the southwest of the MRC, it covers a total area of 866 kilometres2, or 14.9% of the MRC's municipalized territory. It is bordered to the north by the municipalities of Notre-Dame-de-Pontmain, Lac-du-Cerf and Kiamika, and to the north and east by a vast non-municipalized territory that forms part of the Papineau-Labelle wildlife reserve. To the southeast, it is bordered by the Papineau MRC, and to the southwest by the Vallée-de-la-Gatineau MRC.

About Canada Carbon Inc.Canada Carbon Inc. is a mineral exploration company focused on the acquisition, exploration and development of graphite deposits. The company has acquired two historic graphite mines, the Miller and Asbury mines, located respectively in Grenville-sur-la-Rouge and Notre-Dame-du-Laus, Quebec. Canada Carbon is committed to realizing its potential as a producer of high-quality graphite while maintaining the highest standards of social and environmental responsibility.

For more information on Canada Carbon's mining activities, please visit our website at www.canadacarbon.com.

FORWARD-LOOKING STATEMENTS

This press release contains statements that constitute "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as of the date of this press release. Any statements that address predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using expressions such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", etc.) are forward-looking statements, "The forward-looking statements contained in this press release are not statements of historical fact and may constitute forward-looking information. The forward-looking statements contained in this press release include statements relating to the settlement of debt. In disclosing the forward-looking information contained in this press release, the company has made certain assumptions. Although the company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations reflected in the forward-looking information will prove to have been correct. Known and unknown risks, uncertainties and other factors may affect the company's results. These factors include, but are not limited to, compliance with extensive government regulations, domestic and foreign laws and regulations adversely affecting the company's business and results of operations, the impact of COVID-19, and general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting the forward-looking information or otherwise.

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

Canada Carbon Logo (CNW Group/Canada Carbon)Municipalité de Notre-Dame-du-Laus Logo (CNW Group/Canada Carbon)

SOURCE Canada Carbon

Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2025/11/c1994.html

We recently compiled a list of the These 10 Firms Were Last Week's Worst Performers. In this article, we are going to take a look at where FMC Corp. (NYSE:FMC) stands against the other stocks.

Volatile trading persisted on the stock market last week as investors scrambled to react to a flurry of positive and negative news that sparked both buying and selling positions.

On Friday alone, all Wall Street main indices fell into the red territory, with trading dampened mainly by tariff threats and expectations of a higher inflation rate in the US.

Ten companies under mixed sectors also mirrored the decline, with each booking double-digit slumps. This article details which 10 companies suffered the most last week and what specifically caused investor pessimism.

To come up with last week’s worst performers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A laboratory technician carefully mixing chemicals in a laboratory.

FMC Corp. (NYSE:FMC)

Shares of FMC Corp. fell by 38 percent week-on-week, ending Friday’s trading at $34.54 each from the $55.78 registered on January 31, as investors were disappointed by a plunge in its earnings performance in the fourth quarter and full year of 2024.

In a statement last week, FMC Corp. said net profit for the full year 2024 plummeted by 74 percent to $342 million while revenues declined by 5 percent to $4.25 billion.

In the fourth quarter alone, the company swung to a net loss of $16 million, reversing a net income in the same quarter in 2023.

Revenues for the quarter, however, increased by 7 percent to $1.22 billion.

For the full year 2025, the company also posted a conservative outlook, with revenues expected to settle between $4.15 billion and $4.35 billion, flat from 2024.

Following the release, UBS downgraded its rating for the company to “neutral” from “buy” given ongoing pressure from declining crop chemical demand.

It also slashed its price target by 42 percent to $38 apiece from $66 previously.

Overall FMC ranks 1st on our list of last week's worst performers. While we acknowledge the potential of FMC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as FMC but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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

Highlights include 39m at 2.34g/t PGM+Au, 34m at 2.24g/t PGM+Au, and 36m at 2.21g/t PGM+Au

VANCOUVER, BC, Feb. 10, 2025 /CNW/ – Bravo Mining Corp. (TSXV: BRVO) (OTCQX: BRVMF), ("Bravo" or the "Company") has received assay results from the final seven diamond drill holes ("DDH") in the Central Sector of its 100% owned Luanga palladium + platinum + rhodium + gold + nickel deposit ("Luanga deposit" or "Luanga PGM+Au+Ni deposit"), located in the Carajás Mineral Province, Pará State, Brazil.

"Results from infill and extensional drilling in the Central Sector at the Luanga PGM+Au+Ni deposit continue to demonstrate Luanga's mineral resource upside potential. Drilling consistently intercepts substantial mineralized thicknesses and grades, often matching or exceeding results from earlier drill holes on the same section. Sections in this news release also demonstrate that grades frequently improve at depth, from hole to hole, across multiple intervals," said Luis Azevedo, Chairman and CEO. "We are extremely pleased with the outcomes of our 2024 drilling and trenching programs, which were completed under budget and have set a positive outlook for the forthcoming MRE update."

Highlights Include:

The 2024 drill program is complete, and the results reported herein finalize the reporting of all assay data in readiness for the upcoming mineral resource estimate ("MRE") update.
Infill and extensional drilling, at depth in the Central Sector, continue to demonstrate improved mineralized thicknesses and grades as compared to previous shallower drilling on the same section.
Drilling has extended mineralization to depth in the Central Sector and demonstrates yet further potential for the addition of mineralization, potentially with increased grades and thicknesses, that are still considered to be within reach of a potential future open pit.
The 2024 drill program increased the depth extent and thickness of the mineralized zones, and improved grades within the mineralized envelope.
Exploration is progressing on EM targets and newly identified Cu-Au targets, with drilling scheduled to recommence at T5 in Q1'2025.

HOLE-ID	From	To	Thickness (m)	Pd	Pt	Rh	Au	PGM + Au	Ni* (%) Sulphide	TYPE
HOLE-ID	(m)	(m)	Thickness (m)	(g/t)	(g/t)	(g/t)	(g/t)	(g/t)	Ni* (%) Sulphide	TYPE
DDH24LU286	118.00	157.0	39.0	1.70	0.54	0.06	0.04	2.34	0.32	FR
DDH24LU287	121.6	155.6	34.0	1.45	0.53	0.08	0.18	2.24	0.24	FR
DDH24LU288	122.3	178.3	56.0	1.39	0.52	0.05	0.02	1.97	0.24	FR
DDH24LU289	100.7	136.7	36.0	1.59	0.53	0.09	0.01	2.21	0.25	FR
DDH24LU290	49.7	53.7	4.0	1.80	1.54	0.03	0.03	3.39	0.08	FR

Notes:

All 'From', 'To' depths, and 'Thicknesses' are downhole. 'NA' Not applicable for Oxide material.Given the orientation of drilling and mineralization, intercepts are estimated at 115% to 140% of true thickness.Type: Ox = Oxide. FR = Fresh Recovery methods and results will differ based on the type of mineralization.* Bravo's nickel grades are sulphide nickel, and do not include non-recoverable silicate nickel, unlike historical total nickel assays

Luanga Drilling Update

Results from seven diamond drill holes have been received, all from the Central Sector of the Luanga PGM+Au+Ni deposit. All the drill holes reported herein are angled holes (-60 degrees), towards an azimuth of 320 – 330°. Together, this set of drill holes comprise a total of 1,471.4 metres of diamond drilling.

Section 1 (Figure 1) in the Central Sector shows a drill section where mineralization has been intersected at depth in drill hole DDH24LU286, and forms part of the recently completed 2024 drilling program. The 2024 drill program aimed to further define mineralization at greater depths than previous drilling as is the case in Section 1. Further drilling was aimed at infilling areas of wider spaced drill sections with the objective of upgrading the confidence levels of existing resources in the MRE. DDH24LU286 extends the mineralization approximately a further 75m to depth, now reaching approximately 175m from surface, with mineralized thicknesses and grades showing excellent consistency, equal or better to shallower drill holes. The mineralization remains open at depth with potential for further extension below 175 m depth.

Figure 1: Central Sector (Section 1 on Figure 4). Mineralized Grades and thicknesses continue to impress, adding substantial depth extension. (CNW Group/Bravo Mining Corp.)

Section 2 (Figure 2) shows extensional drill hole DDH24LU282 in the Central Sector, which also extends the depth of intersected mineralization a further 75m, to approximately 250m from surface. Here, mineralized grades can be seen to consistently improve with depth, while the overall interpreted thickness of mineralization is also increasing with depth. As in Section 1 above, DDH24LU282 of the 2024 drill program has significantly extended the volume of mineralization at depth on this section. The potential remains to further extend mineralization at depth, potentially with increasing thickness and grades.

Figure 2: Central Sector (Section 2 on Figure 4). Extensional drilling defines significant future MRE growth potential, still open shallow depths. (CNW Group/Bravo Mining Corp.)

HeliTEM (Helicopter borne EM) and Copper-Gold Exploration Update

Exploration is progressing on both EM targets and new Cu-Au targets (Figure 3) within the Luanga licence.

Drilling is expected to recommence, starting at T5, in Q1.

Figure 3: Location (over magnetics) of priority Cu/Au targets outside the Luanga PGM+Au+Ni deposit, the focus of regional exploration. (CNW Group/Bravo Mining Corp.)

Drill Results Status Update

A total of 345 drill holes have been completed by Bravo to date, for 73,675.65 metres, including 8 metallurgical holes (not subject to routine assaying). Results have been reported for 311 Bravo drill holes to date. Assay results for 26 holes are currently outstanding (excluding the metallurgical holes). These 26 holes relate to exploration outside of the Luanga PGM+Au+Ni resource area. A total of 45 trenches have been completed to date (for 9,065.73 metres), with all results reported.

Complete Table of Recent Intercepts.

HOLE-ID	From	To	Thickness (m)	Pd	Pt	Rh	Au	PGM + Au	Ni* (%) Sulphide	TYPE
HOLE-ID	(m)	(m)	Thickness (m)	(g/t)	(g/t)	(g/t)	(g/t)	(g/t)	Ni* (%) Sulphide	TYPE
DDH24LU285	0.0	11.0	11.0	0.64	0.32	0.01	0.01	0.99	NA	Ox
And	30.5	37.4	6.9	0.77	0.68	0.01	0.05	1.51	NA	Ox/FR
DDH24LU286	118.0	157.0	39.0	1.70	0.54	0.06	0.04	2.34	0.32	FR
And	163.0	193.0	30.0	0.27	0.25	<0.01	<0.01	0.52	0.02	FR
DDH24LU287	0.0	12.9	12.9	0.58	0.23	0.01	0.11	0.93	NA	Ox
And	106.8	114.8	8.0	0.63	0.25	0.02	0.10	1.00	0.22	FR
And	121.6	155.6	34.0	1.45	0.53	0.08	0.18	2.24	0.24	FR
And	164.6	200.6	36.0	0.29	0.25	<0.01	0.03	0.57	0.02	FR
DDH24LU288	122.3	178.3	56.0	1.39	0.52	0.05	0.02	1.97	0.24	FR
DDH24LU289	57.7	62.7	5.0	0.52	0.15	0.24	0.01	0.91	0.34	FR
And	75.7	143.8	68.0	1.10	0.38	0.06	0.01	1.55	0.19	FR
Including	100.7	136.7	36.0	1.59	0.53	0.09	0.01	2.21	0.25	FR
DDH24LU290	6.3	34.7	28.4	0.70	0.24	0.02	0.01	0.97	NA	Ox/FR
Including	29.7	34.7	5.0	1.37	0.48	0.05	0.01	1.91	0.30	FR
And	49.7	53.7	4.0	1.80	1.54	0.03	0.03	3.39	0.08	FR
DDH24LU291	No Significant Result

Notes:

All 'From', 'To' depths, and 'Thicknesses' are downhole. 'NA' Not applicable for Oxide material.Given the orientation of drilling and mineralization, intercepts are estimated at 115% to 140% of true thickness.Type: Ox = Oxide. FR = Fresh Rock. Recovery methods and results will differ based on the type of mineralization.* Bravo's nickel grades are sulphide nickel, and do not include non-recoverable silicate nickel, unlike historical total nickel assays

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

About Bravo Mining Corp.

Bravo is one of the most active explorers in Carajás. The team, comprising of local and international geologists, has a proven track record of PGM, nickel, and copper discoveries in the region. They have successfully taken a past IOCG greenfield project from discovery to development and production in the Carajás.

The Luanga Project is situated on mature freehold farming land and benefits from being located close to operating mines and a mining-experienced workforce, with excellent access and proximity to existing infrastructure, including road, rail, ports, and hydroelectric grid power. A fully funded +70,000m infill, step out and exploration drilling and trenching program was completed in 2024. Bravo's current Environmental, Social and Governance activities includes planting more than 30,000 high-value trees in and around the project area, while hiring and contracting locally.

Technical Disclosure

Forward Looking Statements

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "continues", "significant", "potential", "substantial", "improved", "further extension", "consistent increase", "better", "wide", "upside", "match", "exceed", "frequently", variants of these words and other similar words, phrases, or statements that certain events or conditions "may" or "will" occur. This news release contains forward-looking information pertaining to the Company's 2024 drill program and the results thereof; comparisons to historical and/or prior Bravo drilling; the potential for extensions to mineralization at depth; the potential for greater thicknesses and/or higher grades at depth; the impact of current and future drilling on future mineral resource estimates, after taking into account other modifying factors; whether or not the mineralization is amenable to open pit mining and, if so, to what extent; potential economic outcomes, including strip ratios, in future economic studies; and the Company's plans in respect thereof. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, unexpected results from exploration programs, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage; and other risks and uncertainties involved in the mineral exploration and development industry. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including, but not limited to, the assumption that the assay results confirm that the interpreted mineralization contains significant values of nickel, PGMs and Au; that the mineralization remains open to depth, that PGM and/or Ni grades and mineralized thicknesses are improving to depth; that final drill and assay results will be in line with management's expectations; that activities will not be adversely disrupted or impeded by regulatory, political, community, economic, environmental and/or healthy and safety risks; that the Luanga Project will not be materially affected by potential supply chain disruptions; and general business and economic conditions will not change in a materially adverse manner. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

Schedule 1: Drill Hole Collar Details

HOLE-ID	Company	East (m)	North (m)	RL (m)	Datum	Depth (m)	Azimuth	Dip	Sector
DDH24LU285	Bravo	658439.86	9340827.80	246.41	SIRGAS2000_UTM_22S	110.55	330.00	-60.00	Central
DDH24LU286	Bravo	658431.29	9340643.68	276.80	SIRGAS2000_UTM_22S	244.70	330.00	-60.00	Central
DDH24LU287	Bravo	658500.82	9340722.17	269.40	SIRGAS2000_UTM_22S	240.25	330.00	-60.00	Central
DDH24LU288	Bravo	658378.87	9340533.22	283.91	SIRGAS2000_UTM_22S	285.40	330.00	-60.00	Central
DDH24LU289	Bravo	658296.91	9340475.55	273.69	SIRGAS2000_UTM_22S	300.60	330.00	-60.00	Central
DDH24LU290	Bravo	658166.89	9340503.37	256.91	SIRGAS2000_UTM_22S	180.45	330.00	-60.00	Central
DDH24LU291	Bravo	658352.08	9340261.87	253.23	SIRGAS2000_UTM_22S	109.45	320.00	-60.00	Central

Schedule 2: Assay Methodologies and QAQC

Bravo SGS Geosol
Preparation	Method	Method	Method	Method
For All Elements	Pt, Pd, Au	Rh	Sulphide Ni	Trace Elements
PRPCLI (85% at 200#)	FAI515	FAI30V	AA04B	ICP40B

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

SOURCE Bravo Mining Corp.

Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2025/10/c5562.html

We recently compiled a list of the 15 Biggest Agriculture Stocks in 2025. In this article, we are going to take a look at where Sociedad Química y Minera de Chile S.A. (NYSE:SQM) stands against the other agriculture stocks. We also discuss the increase in technology adoption in the industry to improve operations in agriculture and farming.

The agriculture sector is crucial for food security and economic stability. It extends beyond farm businesses to include other farm-related industries in the United States. According to the Bureau of Economic Analysis, agriculture, food, and related industries contributed over $1.5 trillion to the American economy in 2023, representing 5.5% of the GDP.

The output of farm businesses stood at $222.3 billion, or 0.8% of the GDP. However, economists believe agriculture's overall contribution is much higher than this figure because numerous players in various sectors rely on agricultural inputs and contribute added value to the economy.

According to McKinsey, the global food and agribusiness industry is valued at over $5 trillion, and given current trends, this number is expected to rise further. By 2050, caloric demand is projected to grow by 70%, while crop demand for human consumption and animal feed is forecast to soar by at least 100%.

The surge in population worldwide continues to lead to an increased demand for food, necessitating innovative agricultural practices. Recent trends have highlighted a shift toward the adoption of technology in agriculture and farming, which aims to enhance sustainable production.

A 2024 survey by a leading consultancy firm has revealed a growing trend among farmers for technology adoption, with a 3 percent increase since 2022 in farmers who are using or are willing to adopt digital technology to improve operations. North America continues to lead agricultural technology adoption, while Latin America experienced the fastest rate of growth – 10% – between 2022 and 2024.

The United States has the highest rate of technology adoption, with 61% of the farmers using or willing to adopt digital agronomy, and 51% for precision agriculture hardware, while the adoption rate for remote-sensing technologies among American farmers stood at 38%. More than two-thirds of farmers were using or willing to adapt to farm management software. The study also highlighted that large farms were 45% more likely to adopt agriculture technology than smaller farms, citing scale factors to generate positive ROI.

The growing focus on sustainable practices and innovative technologies among farmers to enhance their productivity not only bodes well for the future of the agriculture industry but also presents an opportunity for organizations that provide these technologies to cater to farmers’ diverse needs across different regions.

Methodology

For this article, we sifted through screeners to get a pool of stocks in the agricultural inputs and farm products industries. We also referred to our previous articles on the industry to further enrich our list of stocks. From there, we picked the top 15 companies with the highest market cap, as of the close of the day on Friday, January 31, 2025. The 15 biggest agriculture stocks are ranked in ascending order of market cap.

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

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

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

Market Cap: $11.03 billion

Sociedad Química y Minera de Chile S.A. (NYSE:SQM) is a Chilean chemical company that produces a wide range of products, such as specialty plant nutrients, iodine, lithium, potassium chloride, and other chemicals. For the last five decades, the company has been committed to the agriculture sector and has provided nutritional solutions for high-value crops worldwide.

During its Q3 2024 earnings call on November 19, Sociedad Química y Minera de Chile S.A. (NYSE:SQM) reported a net income of $131.4 million, or 46 cents per share. This was down 72.6% from last year. The company’s revenue came in at $1.08 billion, which was also 41.5% lower compared to Q3 2023. SQM’s financial performance was pressured during the quarter by weaker year-over-year pricing.

However, in an encouraging trend, Sociedad Química y Minera de Chile S.A. (NYSE:SQM) experienced positive volume growth in most business segments compared to last year. The fertilizer markets are showing great recovery. The Specialty Plant Nutrition business line saw a 21% year-over-year increase in volume and a revenue growth of 12%. The company is also seeing strong demand for iodine, resulting in an increase in both volume and revenue from last year. In lithium, SQM had a sales volume of over 51,000 metric tons, which was up 18% year-over-year. This demonstrated strong demand, mainly driven by EV sales growth in China.

While demand remains robust, Sociedad Química y Minera de Chile S.A. (NYSE:SQM) conceded the challenges associated with a 24% drop in average realized lithium prices from Q2 2024 due to oversupply in the market. However, it is confident that it enjoys a strong competitive edge in the lithium market and will continue to work on its ongoing projects, which will position the company to harvest benefits as the world transitions to clean energy.

Wall Street analysts anticipate a 21% uptick, on average, in Sociedad Química y Minera de Chile S.A. (NYSE:SQM)’s share price. Investor sentiment continues to improve as well. According to Insider Monkey’s database for Q3 2024, 12 hedge funds held a stake in the company, up from 9 at the end of Q2.

Overall SQM ranks 8th on our list of the biggest agriculture stocks in 2025. While we acknowledge the potential of SQM as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than SQM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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

We recently compiled a list of the 15 Biggest Agriculture Stocks in 2025. In this article, we are going to take a look at where FMC Corporation (NYSE:FMC) stands against the other agriculture stocks. We also discuss the increase in technology adoption in the industry to improve operations in agriculture and farming.

Methodology

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

A laboratory technician carefully mixing chemicals in a laboratory.

FMC Corporation (NYSE:FMC)

Market Cap: $6.96 billion

FMC Corporation (NYSE:FMC) is a leading agricultural sciences company providing solutions for crop protection and crop enhancement. It produces and sells crop protection chemicals like insecticides, herbicides, and fungicides; crop nutrition; biologicals; and seed treatment products.

On November 1, the company announced the sale of its Global Specialty Solutions (GSS) business to Envu. The divestiture includes a line of products serving non-crop markets and is a key step in FMC Corporation's (NYSE:FMC) plans to focus solely on its core crop protection business. Analysts believe the strategic move will also enhance the company’s operational efficiency.

On December 13, FMC Corporation (NYSE:FMC) declared a quarterly dividend of 58 cents, reflecting its commitment to shareholder returns. During its Q4 2024 earnings call on February 5, the company reported a revenue of $1.22 billion, growing 7% year-over-year. Adjusted diluted EPS stood at $1.79, improving 67% compared to Q4 2023.

FMC Corporation (NYSE:FMC) is one of the best agriculture stocks to buy in 2025, with Wall Street analysts anticipating an average share price upside potential of nearly 16%. Investor sentiment around the stock continues to improve as well. According to Insider Monkey’s database for Q3 2024, 41 hedge funds held a stake in the company, an improvement from 35 at the end of the second quarter.

Overall FMC ranks 14th on our list of the biggest agriculture stocks in 2025. While we acknowledge the potential of FMC as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than FMC but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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

We recently compiled a list of the Jim Cramer Discusses These 9 Stocks & US AI GPU Advantages. In this article, we are going to take a look at where FMC Corporation (NYSE:FMC) stands against the other stocks.

In his latest appearance on CNBC's Squawk on the Street, Jim Cramer spent nearly all of his show discussing stocks. As has been the case with most of his morning appearances in 2025, he discussed Wall Street's favorite GPU stock in quite a bit of detail. While we've covered a lot of his remarks in our coverage of the stock in our next list, some points are worth mentioning in the introduction.

While Wall Street is focused on whether cloud and data center spending for the firm will materialize after China's DeepSeek purportedly demonstrated lower training costs and by effect lower spending requirements, Cramer is focused on the firm's Blackwell GPU.

For Cramer, while the Blackwell GPU is an impressive product, the timeline of its orders materializing is surprising. He commented on a recent share price target reduction by Citi to share that the only significant takeaway for him from the note concerned the orders. Before he read the note, Cramer kept "thinking that Blackwell, which is the next generation, is selling like mad." However, reading the note surprised him as he learned that the first customer was only starting to receive the products. This leads Cramer to conclude that the money from the latest AI GPUs that the firm earns is "going to be much more forward and not now in front of us."

Yet, he remains optimistic because the orders will materialize as Cramer believes "because obviously if you're spending all this money you're gonna get Blackwell." The CNBC host then shifted the conversation to the importance of the Blackwell GPUs. After analyzing the GPU orders, "you say to yourself, why do you need Blackwell? Why do you need this incredibly important platform that has software?" he wondered.

The answer to this question, according to Cramer is because "you need it [Blackwell] for both inference and you need it for training," even though according to him "There are people who said with DeepSeek you don't."

The GPU orders are particularly important when we analyze Cramer's first remarks for the GPU stock after the DeepSeek stock market selloff. Orders are one key metric that Cramer believes investors should watch to confirm whether the damage done by the selloff is permanent. In a recent morning appearance, he outlined that "any [GPU] order pullback" is a key metric along with a potentially reduced focus on energy spending.

Our Methodology

To make our list of the stocks that Jim Cramer talked about, we listed down the stocks he mentioned during CNBC’s Squawk on the Street aired on February 5th.

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

A laboratory technician carefully mixing chemicals in a laboratory.

FMC Corporation (NYSE:FMC)

Number of Hedge Fund Holders In Q3 2024: 41

FMC Corporation (NYSE:FMC) is an agricultural inputs company that sells insecticides, herbicides, and other associated products. Its shares closed 2024 22% lower as the firm struggled from a weak agricultural market beset with inventory problems. FMC Corporation (NYSE:FMC)'s shares were dealt a hefty blow in February when they dropped by a stunning 33% in one day following the firm's fourth-quarter earnings. The results saw the firm's midpoint 2025 earnings guidance of $3.48 miss analyst estimates of $4.36 by a wide margin. Here's what Cramer said as FMC Corporation (NYSE:FMC)'s shares were falling:

"There's a company called FMC. And that's an agricultural company. It's an old food machinery company, it's based in Philadelphia. And the stock is down 35% today because they have inventory problems. Too much of the crop chemicals used for . . . corn, potatoes, and sorghum. I just remind that there certain industries that are in this economy that are seemed to just, I don't know we have to stay close to ag[riculture]. That's a very very bad number. And I'm kind of shocked because it's a pretty reliable company. But the ag business maybe not as great as we think judging from the fact that they have a lot of insecticides, herbicides. So, stay close to ag."

Overall FMC ranks 6th on our list of the stocks Jim Cramer recently discussed. While we acknowledge the potential of FMC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than FMC but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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

Investing.com — UBS downgraded FMC Corporation (NYSE:FMC) to "Neutral" from "Buy" given increased execution risks tied to the company's strategic pivot and ongoing pressure from declining crop chemical demand. The brokerage also slashed its price target by 42% to $38 from $66.

UBS analysts noted that FMC’s revised 2025 outlook marks a third consecutive year of EBITDA below $1 billion, with risks mounting from pricing pressure and a shift toward a direct-to-farm sales model in key markets like Brazil. The transition, expected to take place over the next one to two quarters, adds complexity and potential delivery risks.

The abrupt change to lower manufacturing costs and pricing for channel partners was a bit of a surprise, UBS said, warning that ongoing debates over diamide patent expirations could weigh on the stock for years.

The firm also lowered its 2025 EBITDA forecast by 14% to $877 million, 7% below consensus estimates, and flagged concerns over weaker free cash flow (FCF). With projected FCF of around $290 million in 2025, FMC may face extended deleveraging, limiting cash for growth initiatives.

UBS cut its valuation multiple on the stock, citing a "delayed earnings recovery trajectory" and heightened exposure to commodity-driven pricing risks.

UBS downgrades FMC Corp, slashes price target on execution risks

BPER CEO says Italy's M&A wave prompted defensive bid for Pop Sondrio

U.S. stocks slip after weak nonfarm payrolls, decline in consumer sentiment gauge

Very Exciting Development at Thor!

ESTES PARK, CO / ACCESS Newswire / February 6, 2025 / Taranis Resources Inc. ("Taranis" or the "Company") (TSX.V:TRO)(OTCQB:TNREF) is providing an initial overview of the 2024 diamond drilling program at Thor. Taranis undertook a drilling exploration program at Thor using a ‘linked epithermal-porphyry' geological model, and this approach has resulted in the identification of two intrusive bodies at Thor. The basic premise of this geological model is that epithermal deposits can be underlain by large, mineralized intrusives. This News Release will be the first of several that discuss more detailed exploration results of the 2024 exploration program.

In the +130-year history of exploration and mining at Thor, there have been no documented occurrences of intrusive rocks. The presence of deep, underlying intrusive rocks at Thor became a high-level priority in 2021 after it was recognized that there were large areas of hydrothermal alteration at Thor surrounding the epithermal deposit that had hallmarks of alteration related to something other than the epithermal deposit itself. The host rocks at Thor are Lower Paleozoic metasedimentary-metavolcaniclastic rocks, and alteration has manifested itself quite differently from deposits in British Columbia that are hosted in volcanic rocks.

In May 2022, Expert Geophysics completed an airborne magnetotelluric ("MT")/magnetic survey at Thor and identified a number of geophysical features that indicated the presence of a concealed intrusive. In 2024, the initial drill holes were completed to test some of these features, and a variety of formations were encountered that either have direct connection with an intrusive – or are related to contact alteration around an intrusive. These intrusive-related rocks bear little or no resemblance to the geology mapped at surface and are subject of ongoing investigation including geochemistry, age-dating and Transmission Electron Microscopy ("TEM") mineralogical analyses at the Colorado School of Mines, Golden, Colorado. Taranis has also completed Rare Earth Element and Major Oxide geochemistry on drill cores from 2024 to gain further insight into the large-scale alteration patterns seen in the host rocks.

Two Types of Intrusives at Thor and Relationship to the Epithermal Deposit

The figure that accompanies this News Release shows the spatial relationship between the epithermal deposit at Thor, and some of the underlying alkalic intrusive and intrusive-related rocks. This model is based on surface mapping, diamond drilling (over 250 drill holes), and inverted magnetic and resistivity data from Expert Geophysics. Alkalic rocks are rich in sodium and potassium relative to silica, and are important when differentiating intrusive rocks in British Columbia because this particular type of intrusive is related to some of the largest intrusive-related gold and copper deposits in British Columbia.

Intrusive Event #1

The oldest, and largest igneous event is I-1 ("Igneous Event #1") and is identifiable as a resistive, 1.2 km diameter circular-shaped igneous body ~2.0 km southeast of where the epithermal deposit is located. The top of this intrusive body is located at least 400m below the surface. Immediately overlying this feature is Z-900/1300 that is an elongated resistivity feature that is a contact-related alteration zone that is heavily albitized (55% albite), ankerite (16%) and kaolinite (19%) characteristic of advanced argillic alteration. It also contains ludwigite (5%) that is found in skarn zones around intrusives. Z-900/1300 will be discussed in greater detail in upcoming news releases, but contains anomalous gold over substantial widths (+30m). Only the northern edge of this feature could be drill-tested in 2024, but Taranis has taken actions to be able to fully evaluate this sizeable feature in 2025. The fine-grained nature of the minerals in the rock precluded the identification of minerals (including albite) in the field and TEM had to be used. Based on various age relationships, I-1 is known to be the same age as the Thor epithermal deposit, and it is almost certainly the source of the precious and base metals in the Thor epithermal deposit.

Intrusive Event #2

A younger, second intrusive (I-2) ("Igneous Event #2") forms two dyke-like bodies that flank I-1. This dyke system is enveloped in wide zones of epidote, chlorite and magnetite. I-2 crosscuts the Silver Cup Anticline. The dyke itself is alkalic and mafic in composition, and has high levels of magnesium. The presence of up to 40% magnetite makes the dykes mappable using geophysical surveys. I-2 is completely devoid of precious or base metals, but again contains a considerable amount of albite (up to 58%). I-2 is a late-stage magmatic event that occurred after the emplacement of the Thor epithermal deposit, and has in fact intruded and disrupted the epithermal deposit. This observation means that the Thor epithermal deposit likely continues down-dip of the known deposit east of the dyke.

Comment

John Gardiner, President and CEO of Taranis states "Exploration companies talk about finding large, hidden mineral deposits in British Columbia, and unequivocally this approach is going to find British Columbia's next generation of mines. This requires a long-term approach not only being able to identify favorable geology, but the investment of time and capital. The jewel at Thor lies in the ability to find a mineralized intrusive, and we have made significant progress in that direction. Taranis' prescription has involved a systematic approach to targeting, transitioning from shallow to deeper exploration. Taranis has also leveraged modern technology to define and understand these targets, of which some examples include passive electromagnetic surveying, alteration geochemistry, TEM and most of all experience".

About Taranis and Thor

Qualified Person

Exploration activities at Thor were overseen by John Gardiner (P. Geo.), who is a Qualified Person under the meaning of Canadian National Instrument 43-101. John Gardiner is a principal of John J. Gardiner & Associates, LLC which operates in British Columbia under Firm Permit Number 1002256. Mr. Gardiner has reviewed and approved the comments contained within this News Release.

For additional information on Taranis or its 100%-owned Thor project in British Columbia, visit www.taranisresources.com

Taranis currently has 100,348,854 shares issued and outstanding (113,827,227 shares on a fully-diluted basis).

TARANIS RESOURCES INC.

Per: John J. Gardiner (P. Geo.), President and CEO

For further information contact:

John J. Gardiner681 Conifer LaneEstes Park, Colorado 80517Phone: (303) 716-5922 Cell: (720) 209-3049 johnjgardiner@earthlink.net

SOURCE: Taranis Resources, Inc.

View the original press release on ACCESS Newswire

Key Insights

The projected fair value for FMC is US$53.74 based on 2 Stage Free Cash Flow to Equity
FMC's US$35.92 share price signals that it might be 33% undervalued
Analyst price target for FMC is US$59.56, which is 11% above our fair value estimate

Today we'll do a simple run through of a valuation method used to estimate the attractiveness of FMC Corporation (NYSE:FMC) as an investment opportunity by projecting its future cash flows and then discounting them to today's value. This will be done using the Discounted Cash Flow (DCF) model. Before you think you won't be able to understand it, just read on! It's actually much less complex than you'd imagine.

We would caution that there are many ways of valuing a company and, like the DCF, each technique has advantages and disadvantages in certain scenarios. For those who are keen learners of equity analysis, the Simply Wall St analysis model here may be something of interest to you.

See our latest analysis for FMC

Is FMC Fairly Valued?

We use what is known as a 2-stage model, which simply means we have two different periods of growth rates for the company's cash flows. Generally the first stage is higher growth, and the second stage is a lower growth phase. In the first stage we need to estimate the cash flows to the business over the next ten years. 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, so we discount the value of these future cash flows to their estimated value in today's dollars:

10-year free cash flow (FCF) estimate

	2025	2026	2027	2028	2029	2030	2031	2032	2033	2034
Levered FCF ($, Millions)	US$492.0m	US$573.7m	US$635.5m	US$499.0m	US$425.8m	US$385.4m	US$362.8m	US$350.8m	US$345.4m	US$344.4m
Growth Rate Estimate Source	Analyst x5	Analyst x7	Analyst x2	Analyst x1	Est @ -14.68%	Est @ -9.49%	Est @ -5.86%	Est @ -3.31%	Est @ -1.53%	Est @ -0.29%
Present Value ($, Millions) Discounted @ 7.5%	US$458	US$497	US$512	US$374	US$297	US$250	US$219	US$197	US$181	US$168

("Est" = FCF growth rate estimated by Simply Wall St)Present Value of 10-year Cash Flow (PVCF) = US$3.2b

We now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period. 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 2.6%. We discount the terminal cash flows to today's value at a cost of equity of 7.5%.

Terminal Value (TV)= FCF2034 × (1 + g) ÷ (r – g) = US$344m× (1 + 2.6%) ÷ (7.5%– 2.6%) = US$7.3b

Present Value of Terminal Value (PVTV)= TV / (1 + r)10= US$7.3b÷ ( 1 + 7.5%)10= US$3.6b

The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is US$6.7b. The last step is to then divide the equity value by the number of shares outstanding. Compared to the current share price of US$35.9, the company appears quite good value at a 33% discount to where the stock price trades currently. Remember though, that this is just an approximate valuation, and like any complex formula – garbage in, garbage out.

NYSE:FMC Discounted Cash Flow February 6th 2025The Assumptions

Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual 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 FMC 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 7.5%, which is based on a levered beta of 1.175. 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.

SWOT Analysis for FMC

Strength

Debt is well covered by earnings.

Dividends are covered by earnings and cash flows.

Dividend is in the top 25% of dividend payers in the market.

Weakness

Earnings declined over the past year.

Opportunity

Annual earnings are forecast to grow for the next 3 years.

Good value based on P/E ratio and estimated fair value.

Threat

Debt is not well covered by operating cash flow.

Annual earnings are forecast to grow slower than the American market.

Next Steps:

Although the valuation of a company is important, it is only one of many factors that you need to assess for a company. DCF models are not the be-all and end-all of investment valuation. Preferably you'd apply different cases and assumptions and see how they would impact the company's valuation. If a company grows at a different rate, or if its cost of equity or risk free rate changes sharply, the output can look very different. Can we work out why the company is trading at a discount to intrinsic value? For FMC, we've compiled three additional factors you should assess:

Risks: To that end, you should learn about the 3 warning signs we've spotted with FMC (including 1 which doesn't sit too well with us) .

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

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. Simply Wall St updates its DCF calculation for every American stock every day, so if you want to find the intrinsic value of any other stock just search here.

We recently compiled a list of the 10 Firms Defy Wednesday's Broader Market Optimism. In this article, we are going to take a look at where FMC Corp. (NYSE:FMC) stands against the other stocks.

Wall Street extended its winning streak on Wednesday, with all of its main indices closing in the green territory, as investors seemed to have already factored in the news of tariffs imposition alongside uncertainties surrounding the Artificial Intelligence industry.

The Dow Jones gained another 0.71 percent, the S&P 500 grew 0.39 percent, and the tech-heavy Nasdaq increased by 0.19 percent.

Ten companies, however, defied a broader market optimism, mostly due to disappointing earnings results. This article details the reasons behind the drop in their share prices and latest earnings performance.

To come up with Wednesday’s biggest losers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A laboratory technician carefully mixing chemicals in a laboratory.

FMC Corp. (NYSE:FMC)

Chemical manufacturer FMC Corp. nosedived by 33.53 percent on Wednesday to finish at $35.92 apiece following a plunge in its earnings performance in the fourth quarter and full year of 2024.

In a statement, FMC Corp. said net income for the full year 2024 plummeted by 74 percent to $342 million while revenues declined by 5 percent to $4.25 billion.

In the fourth quarter alone, the company swung to a net loss of $16 million, reversing a net income in the same quarter in 2023.

Revenues for the quarter, however, increased by 7 percent to $1.22 billion.

For the full year 2025, the company also posted a conservative outlook, with revenues expected to settle between $4.15 billion and $4.35 billion, flat from 2024.

“While we saw a good increase in volume, the growth was below our expectations as we learned during the quarter that customers in many countries sought to hold significantly less inventory than they have historically. This dynamic, along with more pronounced FX impacts, acted as a headwind to further growth,” said FMC Chairman and CEO Pierre Brondeau.

Overall FMC ranks 1st on our list of Wednesday's top losers. While we acknowledge the potential of FMC as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than FMC but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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

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Guinea Orders Domestic Refining for All Gold Exports

Building the Future of Copper: Inside Solaris Resources’ Warintza Project

Canada Grants Italy Priority Access to Critical Minerals Amid Graphite Supply Expansion

Copper One Restarts as World’s First Autonomy-First Copper Mine and Refinery

Brazil Emerging as Rare Earth Powerhouse Amid Shift From China