Uranium Archives - Page 4 of 43

VANCOUVER, British Columbia, Sept. 07, 2021 (GLOBE NEWSWIRE) — Aben Resources Ltd. (TSX-V: ABN) (OTCQB: ABNAF) (Frankfurt: E2L2) (“Aben” or “the Company”) is pleased to report that exploration in the Red Lake area has once again resumed as the fires have abated. As a result, the airborne magnetometer survey that Aben commissioned for its 100% owned Pringle North Property in Red Lake, Ontario has now been completed and detailed interpretive work is underway.

Figure 1. Regional Location Map
https://abenresources.com/site/assets/files/4218/regional_location.png

About Pringle North Gold Project

The Property consists of 5 contiguous mining claims covering approximately 1,881 hectares. The property is 60km north of the town of Red Lake and is located 15km east of the all-weather Nungesser Road. This area has been recently identified by the “Ministry of Energy, Northern Development and Mines Recommendations for Exploration 2020-2021” for its deep-seated structural similarities that are associated with the Red Lake Gold Camp and Great Bear Resource’s Dixie Gold Project. This deep-seated structure (named the “E-1 Extensional Fault”) that occurs along this trend was delineated by seismic surveys and is considered a third deep-tapping structure that may have provided fluid pathways for gold mineralization to the mines and recent discoveries in the region. Age determination (by Sanborn et al, 2004) dates this sedimentary belt and assigns it to the Balmer Assemblage which is host to the gold mines in the Red Lake Camp.

Figure 2. Pringle North Property Location Map
https://abenresources.com/site/assets/files/4218/local_claim_fabric.png

Figure 3. Metal Occurrences
https://abenresources.com/site/assets/files/4218/metal_occurrences.png

Figure 4. Preliminary Airborne Magnetic Results
https://abenresources.com/site/assets/files/4225/untitled_design_15.png

Update on Forrest Kerr Gold Project

The field crew has just returned from the Forrest Kerr Project after 3 weeks of property-wide prospecting and geological mapping. Field work was directed toward tracing out mineralized trends outboard of the high-grade precious metal mineralization present in the Boundary Valley, located near the center of the 23,397-hectare property. Field reconnaissance activities took place across the entirety of the Forrest Kerr claim group and successfully contributed a greater understanding of the controls on existing gold mineralization and the potential for discovering new precious metal mineralization. The Forrest Kerr Property hosts highly altered Mesozoic rocks that reflect a robust and widespread hydrothermal system with proven high-grade mineralization and real potential for more sizeable discoveries.

Forrest Kerr Gold Project, Golden Triangle, BC claims map:
https://abenresources.com/site/assets/files/4087/abn_forrest_kerr_project_map.pdf

About Aben Resources:

Aben Resources is a Canadian gold exploration company developing gold-focused projects in British Columbia and the Yukon Territory. Aben is a well-funded junior exploration company. Cornell McDowell, P.Geo., V.P. of Exploration for Aben Resources, has reviewed and approved the technical aspects of this news release and is the Qualified Person as defined by National Instrument 43-101.

For further information on Aben Resources Ltd. (TSX-V: ABN), visit our Company’s web site at www.abenresources.com.

ABEN RESOURCES LTD.

“Jim Pettit”
______________________
JAMES G. PETTIT
President & CEO

For further information contact:
Aben Resources Ltd.
Telephone: 604-416-2978
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@abenresources.com

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

This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management 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. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

(Bloomberg) —

A unit of Guinea’s military seized power and suspended the constitution, destabilizing a key source of the raw material used to make aluminum.

The head of special forces in the West African nation, Colonel Mamady Doumbouya, announced the takeover on state television on Sunday, imposed a curfew of 8 p.m. local time and urged the armed forces to back him. The action was taken to address financial mismanagement and corruption in Guinea under President Alpha Conde, he said, adding that the deposed leader is safe and has been in contact with his doctors.

“If you see the condition of our roads, of our hospitals, you realize that it is time for us to wake up,” Doumbouya said. “We are going to initiate a national consultation to open an inclusive and peaceful transition.”

Guinea vies with Australia as China’s largest supplier of bauxite, which is used to make alumina and eventually aluminum. The country shipped 82.4 million tons of the mineral globally last year, according to government data. Much of that went to China, which is the world’s biggest aluminum-consuming country.

Aluminium prices on the London Metal Exchange rose as much as 1.8% to $2,775.50 a ton, the highest since May 2011, before trading at $2,749. In China, futures jumped as much as 3.4% to the highest since 2006. Chinese aluminum stocks also rallied, with Aluminum Corp. of China shares up as much as 10% in Hong Kong.

The military takeover “might have a speculative impact on the price of aluminum but will have a bigger impact on the alumina price because it’s more immediately exposed to the event,” said Tom Price, head of commodities strategy at Liberum Capital Ltd. “It’s an event which will create a new risk of security to supply.”

Aluminum has jumped about 50% over the past year in London and is near the highest in a decade. Prices have rallied as a global economic recovery from the effects of the pandemic and Chinese output restrictions stoked demand. The energy-intensive aluminum industry has been targeted in China as the government seeks to conserve electricity and curb emissions, while a seasonal power crunch has also dented production.

Companies including United Co. Rusal have invested heavily to extract Guinea’s abundant iron-ore and bauxite reserves. Rio Tinto Group, the world’s largest miner, has been looking at ways to exploit Simandou, the biggest undeveloped iron-ore deposit. Johannesburg-based AngloGold Ashanti Ltd. owns the Siguiri gold mine in Guinea, its only asset in the country.

Rusal’s spokesman declined to comment on the military takeover, but said it could have an impact on output. Guinea accounted for about 9% of the alumina produced by Rusal in the first half of 2021, according to the company.

The U.S. State Department condemned the coup and called for a peaceful national dialogue to “enable a peaceful and democratic way forward for Guinea to realize its full potential.” United Nations Secretary-General Antonio Guterres also blasted the military takeover.

Leaders of two African blocs have pushed for the release of Guinea’s president. Leaders of the Economic Community of West African States also threatened sanctions against Guinea, Chairman Nana Akufo-Addo said in a statement.

The regional political and economic body “condemns with the greatest firmness, and also demands a return to constitutional order,” Akufo-Addo, who’s also Ghana’s president, added.

The African Union also called for its Peace and Security Council to meet urgently over the matter.

Doumbouya’s TV appearance bore a resemblance to a similar scene in August 2020, when a Malian junta removed President Ibrahim Keita after blaming him for the country’s socio-economic problems. And in April, Chad’s army seized power after the death of President Idriss Deby.

The military takeover in Guinea on Sunday came hours after heavy gunfire erupted near the presidential palace in the capital, Conakry, in the morning.

Conde’s government said in a statement before Doumbouya’s announcement that the presidential guard, backed by the nation’s security forces, had repulsed the attack by the “insurgents” and called for calm.

Conde, 83, was sworn in December for a third term in office, vowing to fight corruption. Initially hailed when he came to power in 2010 for ushering in democratic rule, he was allowed to run for a controversial third term last year after a referendum, backed by Russia, led to a change in the constitution.

A former educator, Conde has increasingly cracked down on opponents as opposition against his rule has grown.

(Adds aluminium price in fifth paragraph)

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Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the right price. For example, although software-as-a-service business Salesforce.com lost money for years while it grew recurring revenue, if you held shares since 2005, you'd have done very well indeed. Having said that, unprofitable companies are risky because they could potentially burn through all their cash and become distressed.

So should Encounter Resources (ASX:ENR) shareholders be worried about its cash burn? For the purpose of this article, we'll define cash burn as the amount of cash the company is spending each year to fund its growth (also called its negative free cash flow). Let's start with an examination of the business' cash, relative to its cash burn.

Check out our latest analysis for Encounter Resources

How Long Is Encounter Resources' Cash Runway?

A company's cash runway is the amount of time it would take to burn through its cash reserves at its current cash burn rate. In December 2020, Encounter Resources had AU$7.6m in cash, and was debt-free. In the last year, its cash burn was AU$4.2m. So it had a cash runway of approximately 22 months from December 2020. That's not too bad, but it's fair to say the end of the cash runway is in sight, unless cash burn reduces drastically. The image below shows how its cash balance has been changing over the last few years.

How Is Encounter Resources' Cash Burn Changing Over Time?

While Encounter Resources did record statutory revenue of AU$180k over the last year, it didn't have any revenue from operations. That means we consider it a pre-revenue business, and we will focus our growth analysis on cash burn, for now. Over the last year its cash burn actually increased by 27%, which suggests that management are increasing investment in future growth, but not too quickly. That's not necessarily a bad thing, but investors should be mindful of the fact that will shorten the cash runway. Admittedly, we're a bit cautious of Encounter Resources due to its lack of significant operating revenues. We prefer most of the stocks on this list of stocks that analysts expect to grow.

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

Given its cash burn trajectory, Encounter Resources shareholders may wish to consider how easily it could raise more cash, despite its solid cash runway. Issuing new shares, or taking on debt, are the most common ways for a listed company to raise more money for its business. One of the main advantages held by publicly listed companies is that they can sell shares to investors to raise cash and fund growth. By looking at a company's cash burn relative to its market capitalisation, we gain insight on how much shareholders would be diluted if the company needed to raise enough cash to cover another year's cash burn.

Encounter Resources' cash burn of AU$4.2m is about 5.3% of its AU$79m market capitalisation. Given that is a rather small percentage, it would probably be really easy for the company to fund another year's growth by issuing some new shares to investors, or even by taking out a loan.

Is Encounter Resources' Cash Burn A Worry?

On this analysis of Encounter Resources' cash burn, we think its cash burn relative to its market cap was reassuring, while its increasing cash burn has us a bit worried. Based on the factors mentioned in this article, we think its cash burn situation warrants some attention from shareholders, but we don't think they should be worried. On another note, Encounter Resources has 5 warning signs (and 1 which doesn't sit too well with us) we think you should know about.

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

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

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

Friday, September 3, 2021

The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Verizon Communications Inc. (VZ), CVS Health Corporation (CVS), and BHP Group (BHP). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.

You can see all of today’s research reports here >>>

Verizon shares have lagged the Zacks Wireless Industry over the last 6 months (+0.9% vs. +2.6%), but the Zacks analyst believes that the company is poised to benefit from a disciplined network strategy and a customer-centric business model. Supported by a focused roadmap for technology leadership, the company witnessed a healthy demand curve across core businesses. Verizon expects to continue this momentum, driven by diligent execution of operational plans along with dedicated 5G endeavors.

However, Verizon operates in an intensely competitive U.S. wireless market that strains margins. Hefty expenses on promotions and lucrative discounts to attract customers hamper its profitability. The high auctioning expenses for the mid-band spectrum is likely to further compromise Verizon’s margins.

(You can read the full research report on Verizon here >>>)

Shares of CVS Health have modestly outperformed the Zacks Retail – Pharmacies and Drug Stores industry in the last three months (+0.6% vs. -1.5%). In fact, CVS Health's second-quarter earnings and revenues surpassed the Zacks Consensus Estimate. Revenues across all the three operating segments in the second quarter performed ahead of the company’s expectations. Increased full-year guidance is indicative of this bullish trend to continue through the rest of 2021.

The company noted that, consumer-centric digital strategy has become more relevant in the current environment as people are using technology more while staying indoors. The Zacks analyst believes that in the second quarter, the company has achieved higher levels of engagement across digital assets. However, second-quarter adjusted earnings declined year over year on escalating costs and expenses which are putting pressure on both the margins. Also, the repeal of the HIF for 2021 hampered growth.

(You can read the full research report on CVS Health here >>>)

BHP Group shares have gained +15.2% over the past year against the Zacks Mining – Miscellaneous industry’s gain of +17.1%. In fact, BHP Group’s iron ore production in fiscal 2021 rose 2% to 254 Mt (million tons) aided by record production at Western Australia Iron Ore (WAIO). In fiscal 2022, the company expects to produce between 249 Mt and 259 Mt of iron ore backed by productivity improvements at WAIO.

The Zacks analyst believes that higher input costs and the recent drop in iron ore prices due to curbs on steel production in China remains a concern. Nevertheless, BHP Group will gain on efforts to make operations more efficient through smart technology adoption across the entire value chain and focus on lowering debt.

(You can read the full research report on BHP Group here >>>)

Other noteworthy reports we are featuring today include Expeditors International of Washington, Inc. (EXPD), Autodesk, Inc. (ADSK) and DISH Network Corporation (DISH).

Sheraz Mian

Director of Research

Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>

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The giant mining company is making changes to its business, and it seems investors are unenthusiastic about its plans.

Miners are bringing about radical changes to mining operations with the help of technology and automation, in an effort to increase productivity and efficiency, reduce costs, and improve frontline safety. More importantly, these efforts will help the industry meet its sustainability target by cutting down on carbon emissions, which is the need of the hour considering the severity of climate change.

To this end, Brazilian miner Vale S.A VALE announced that it has started operating six autonomous haul trucks in Carajás — its largest iron ore complex in Brazil and plans to take it up to 10 vehicles by this year-end. These autonomous trucks have the capability of moving 320 metric tons at a time. These have been undergoing tests in an isolated area in Carajás since 2019. Following the final testing phase at the N4E mine last week, the plan went live on Sep 1 this year. At the Carajás Complex, Vale already has four autonomous drills in operation. The company has plans to increase it to seven drills.

This follows the success of the autonomous operation at Vale’s second largest mine, Brucutu, in Minas Gerais, Brazil, in 2016. It was the first mine in Brazil to run with 100% autonomous operations. In July this year, the 13 haul trucks in operation at the mine achieved the milestone of moving 100 million tons of material since their introduction. Impressively, no accident has been reported by the trucks over the past five years as well.

The move is not only ensuring safety in mining but also aiding the company in attaining its goal of reducing carbon emissions by 33% until 2030. Autonomous trucks offer increased machine and tire life, higher speed than traditional vehicles while consuming less fuel. This leads to lower carbon dioxide and particulate emissions. They offer higher hourly productivity and will lower maintenance costs as well.

Vale has earmarked $34 million this year for its autonomous program. By the end of the year, 23 trucks, 21 drills and four stocking yards (stackers and reclaimers) will be in operation across the company in four Brazilian states (Pará, Minas Gerais, Maranhão and Rio de Janeiro).

Mining giant, BHP Group BHP has been operating a fully-autonomous truck fleet at its Western Australian Jimblebar mine since 2017. The site is now one of the safest operations in its portfolio, with significant events involving trucks at Jimblebar having dropped by more than 90% since the introduction of autonomous haulage. Following its success, BHP is implementing the transition of an autonomous fleet of up to 86 trucks at its Goonyella Riverside coal mine in Queensland in a phased roll out over the 2021-2022 period. The company has announced that it will introduce 20 autonomous trucks at its Newman East (Eastern Ridge) mine in Western Australia.

Rio Tinto plc Plc RIO boasts of the world’s first automated heavy-haul rail network named AutoHaul, which was capable of moving about one million ton of iron ore a day in 2019. About one-third of the haul truck fleet across its Pilbara sites is autonomous as well. It continues to expand its Autonomous Drilling System (ADS), which currently has a fleet of 26 production drills across seven sites. It intends to make the Gudai-Darri iron ore mine in Western Australia’s Pilbara region one of the world’s most technologically advanced mines. Rio Tinto has joined forces with Caterpillar Inc. CAT to deploy the world’s first fully autonomous water truck at the mine. Water spraying is a vital part of mining operations, thus, this will enhance productivity by enabling digital tracking of water consumption and cutting down water wastage. Caterpillar’s three water trucks will join Gudai-Darri’s fleet of Caterpillar heavy mobile equipment including autonomous haul trucks and production drills.

Last year, Newmont Mining Corporation NEM announced investment in implementation of the Autonomous Haulage System at Boddington mine in Australia to enhance safety and productivity, while extending mine life. Once operational, Boddington will be the first open pit gold mine in the world with a fully autonomous haul truck fleet.

Given its benefits to the miners, the driverless fleet is becoming increasingly popular among miners. The number of autonomous trucks is expected to surge over the next few years, thanks to major investments by miners globally.

BHP, Vale, Rio Tinto and Newmont currently carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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Owing to the growing awareness regarding the risks of climate change, organizations globally are fervently working toward a reduced-carbon future. In sync with this, Caterpillar Inc. CAT recently announced that it will begin offering 100% hydrogen fueled generator sets from late 2021. The company will also commence roll out of power generation solutions that can be configured to operate on natural gas blended with up to 25% hydrogen. This is part of its ongoing efforts to help customers achieve their climate-related goals by providing products, which facilitate fuel transition, increase operational efficiency and reduce emissions. It is worth mentioning that Caterpillar’s Solar Turbines gas turbine generator sets have been running on high hydrogen blends for decades and are capable of operating on 100% hydrogen today.

The mining industry, particularly, is an energy intensive industry and is considered a significant source of Greenhouse Gas (“GHG”) emissions. Hydrogen is now being considered as a promising alternative energy source to fossil fuels given its abundance, versatility and zero-emissions. The Hydrogen Council estimates that hydrogen could fulfill 18% of global energy demand by 2050.

Owing to government regulations and public demand, leading miners have been striving to transition from diesel to hydrogen fuel cell power for their heavy-duty vehicles as these have the same payload capability and performance of diesel vehicles, while ensuring no emissions. This energy transition has immense potential for Caterpillar and other mining equipment makers in the long haul.

Recently, BHP Group BHP announced a partnership with Caterpillar to develop and deploy zero-emissions mining trucks at its sites to help reduce GHG emissions. Miner, Anglo American, is working toward developing the world’s largest hydrogen-powered mine haul truck.

Meanwhile, the intensifying global focus on shifting from fossil fuels to zero emissions will require a large amount of commodities. This is a win-win situation for both miners and mining equipment makers. Capitalizing on this trend, Caterpillar is helping customers achieve their energy transition through its innovations, which include a battery powered, zero-emissions switcher locomotive and underground loader, and reciprocating engines and gas turbines that burn hydrogen blends, landfill gas and other biogases. It is also developing a variety of alternative power solutions to support a lower-carbon future, including battery-powered construction machines. Caterpillar expects that 100% of its new products through 2030 will be more sustainable than the previous generation via collaborations with customers, reduced waste, improved design for rebuild/remanufacturing, lower emissions and improved efficiency.

Caterpillar’s peer, Komatsu Ltd. KMTUY, will start a hydrogen development program to develop hydrogen power as an alternative to diesel for heavy-duty mining dump trucks this year, with an aim of launching its first vehicles in 2030. Komatsu and several of its customers, Rio Tinto plc RIO, BHP, Codelco and Boliden have formed the Komatsu GHG Alliance to work toward delivering zero-emissions equipment solutions. The company has been working to reduce greenhouse gas emissions for customers through innovative product development for decades in several areas including electric diesel dump trucks, electric power shovels, regenerative energy storage capabilities and fuel saver programs.

Caterpillar and Komatsu fall under the Zacks Manufacturing – Construction and Mining industry. The Zacks Manufacturing – Construction and Mining industry has outperformed the Industrial Products Sector and the S&P 500 composite over the past year. Over this period, the industry has gained 41.4% compared with the sector's and the S&P 500 composite’s rally of 31.9% and 27.7%, respectively.

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The industry is poised to gain on improving commodity prices that will support spending in the mining industry, and solid construction demand. However, the industry is currently grappling with higher input and logistic costs, and labor shortages. Caterpillar and Komatsu has a Zacks Rank #3 (Hold) currently. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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Halifax, Nova Scotia–(Newsfile Corp. – September 2, 2021) – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") advises that an aggregate of 480,000 options were granted to certain directors, officers, employees and consultants of the Company, subject to the approval of the TSX Venture Exchange. The options are exercisable at a price of C$1.30 per share and expire five years from September 1, 2021, the date of grant. One third of the options will vest after six months, with one third vesting every six months thereafter until fully vested.

# # #

About Ucore Rare Metals Inc.

Ucore is focused on rare and critical metals resources, extraction, beneficiation and separation technologies with potential for production, growth, and scalability. Ucore has a 100% ownership stake in the Bokan-Dotson Ridge Rare Earth Element (REE) Project in Southeast Alaska. Ucore's vision and plan is to transition to become a leading advanced technology company that provides metal separation products and services to the mining and mineral extraction industry.

Through strategic partnerships, this vision includes disrupting the People's Republic of China's dominance of the US REE supply chain through the development of a heavy rare earth processing facility – the Alaska Strategic Metals Complex in Southeast Alaska and the long-term development of Ucore's heavy rare earth element mineral resource property located at Bokan Mountain on Prince of Wales Island, Alaska.

Ucore is listed on the TSXV under the trading symbol "UCU" and in the United States on the OTC Markets' OTCQX® Best Market under the ticker symbol "UURAF".

For further information, please visit www.ucore.com.

Forward-Looking Statements
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release (other than statements of historical facts) that address future business development, technological development and/or acquisition activities (including any related required financings), timelines, litigation outcomes, events, or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance or results and actual results or developments may differ materially from those in forward-looking statements. In regard to the disclosure in the "About Ucore Rare Metals Inc." section above, the Company has assumed that it will be able to procure or retain additional partners and/or suppliers, in addition to IMC, as suppliers for Ucore's expected future Alaska Strategic Metals Complex ("Alaska SMC"). Ucore has also assumed that sufficient external funding will be found to prepare a new National Instrument 43-101 technical report that demonstrates that the Bokan Mountain Rare Earth Elements project ("Bokan") is feasible and economically viable for the production of both REE and co-product mineral materials and metals and the then prevailing market prices based upon assumed customer off-take agreements. Ucore has also assumed that sufficient external funding will be secured to develop the specific engineering plans for the Alaska SMC and its construction. Factors that could cause actual results to differ materially from those in forward-looking statements include, without limitation: Ucore's wholly-owned subsidiary, Innovation Metals Corp. ("IMC"), failing to protect its intellectual property rights in RapidSX™; RapidSX failing to demonstrate commercial viability in large commercial-scale applications; Ucore not being able to procure additional key partners or suppliers for the Alaska SMC; Ucore not being able to raise sufficient funds to fund the specific design and construction of the Alaska SMC and/or the continued development of RapidSX; adverse capital-market conditions; unexpected due-diligence findings; the emergence of alternative superior metallurgy and metal-separation technologies; the inability of Ucore and/or IMC to retain its key staff members; a change in the legislation in Alaska and/or in the support expressed by the Alaska Industrial Development and Export Authority ("AIDEA") regarding the development of Bokan and/or the Alaska SMC; the availability and procurement of any required interim and/or long-term financing that may be required; and general economic, market or business conditions.

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

CONTACT

Mark MacDonald
Vice President, Investor Relations
Ucore Rare Metals Inc.
+1 902 482 5214
mark@ucore.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/95299.

BEDFORD, NS / ACCESSWIRE / September 2, 2021 / Silver Spruce Resources Inc. (the "Company") (TSXV:SSE)(FRA:S6Q1) announced today a private placement of up $1,000,000. The private placement will consist of the issuance of up to 20,000,000 units at a price of $0.05 per unit with each unit consisting of one common share and a warrant to purchase an additional common share at an exercise price of $0.075 per share for a period of three years from the closing of the private placement.

The proceeds from the private placement will be used for exploration of the Company's mineral projects and general working capital.

The private placement is subject to the approval of the TSX Venture Exchange. Finder's fees will be paid on the private placement in accordance with the policies of the TSX Venture Exchange.

About Silver Spruce Resources Inc.

Silver Spruce Resources Inc. is a Canadian junior exploration company which has signed Definitive Agreements to acquire 100% of the Melchett Lake Zn-Au-Ag project in northern Ontario, and with Colibri Resource Corp. in Sonora, Mexico, to acquire 50% interest in Yaque Minerales S.A de C.V. holding the El Mezquite Au project, a drill-ready precious metal project, and up to 50% interest in each of Colibri's early stage Jackie Au and Diamante Au-Ag projects, with the three properties located from 5 kilometres to 15 kilometres northwest from Minera Alamos' Nicho deposit, respectively. The Company also is acquiring 100% interest in the drill-ready and fully permitted Pino de Plata Ag project, located 15 kilometres west of Coeur Mining's Palmarejo Mine, in western Chihuahua, Mexico. Silver Spruce recently signed an LOI to acquire 100% interest in three exploration properties in the Exploits Subzone Gold Belt, located 15-40 kilometres from recent discoveries by Sokoman Minerals Corp. and New Found Gold Corp., central Newfoundland. Silver Spruce Resources Inc. continues to investigate opportunities that Management has identified or that have been presented to the Company for consideration.

Contact:

Silver Spruce Resources Inc.

Michael Kinley, CEO
(902) 402-0388
mkinley@silverspruceresources.com
info@silverspruceresources.com
www.silverspruceresources.com

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements," Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, statements regarding the private placement.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.

SOURCE: Silver Spruce Resources Inc.

View source version on accesswire.com:
https://www.accesswire.com/662511/Silver-Spruce-Announces-Private-Placement-of-up-to-1000000

Shares of uranium mining companies are red-hot Thursday. As of 12:40 p.m. EDT, both Energy Fuels (NYSEMKT: UUUU) and Uranium Energy (NYSEMKT: UEC) stocks are up 6.9% apiece, while Ur-Energy (NYSEMKT: URG) is leading the pack higher with a 9.1% gain. In a short note posted on Twitter yesterday, you see, GLJ raised its price target on yet another uranium mining company.

Vancouver, British Columbia–(Newsfile Corp. – September 2, 2021) – MAX RESOURCE CORP. (TSXV: MXR) (OTC Pink: MXROF) (FSE: M1D2) ("Max" or the "Company") is pleased to report initial assay results for "SP", a new target located midway along the CESAR North 80-kilometre-long belt, in line with the four previous discoveries the URU, CONEJO, AMN and AMS zones, within the wholly-owned CESAR project in North Eastern Colombia (refer to Figures 1 and 2).

Table 1. Rock sample results of 1.0% copper and above.

Copper	Silver	Width	Sample #
4.8%	51 g/t	25-metre	876502
1.0%	6 g/t	25-metre	876509
6.3%	47 g/t	0.5-metre	867233
12.4%	162 g/t	float	876130

Presently, the SP target spans over 1.6-kilometres and is open in all directions. The reconnaissance composite grab sampling over 25-metres averaging 4.8% copper and 51 g/t silver is considered very significant, as is indicates the presence of a higher copper and silver grades within each 25-metre interval. This first pass sampling program is to be followed up with trenching and detailed chip channel sampling.

"In 2021 alone, Max's in-country team have now identified three new copper-silver discoveries spanning along the CESAR North 80-kilometre-long belt, showing the importance of identifying the extent of the copper-silver rich mineralization," commented Max CEO, Brett Matich.

"In addition to these new results, Max looks forward to reporting continued results from the CONEJO and URU zones located along the CESAR North 80-kilometre-long copper-silver belt," he continued.

"World demand for copper continues to increase because it is the key metal for the green revolution's move to electric vehicles, solar, wind and clean power grid infrastructure. Combined with copper's declining reserve base, new discoveries of copper are essential to replace depleting reserves. The potential district-size of the CESAR discoveries positions Max to take advantage of the copper shortfalls," he concluded.

Max interprets the sediment-hosted stratabound copper-silver mineralization in the Cesar basin to be analogous to both the Central African Copper Belt (CACB) to the south and the Polish Kupferschiefer to the north. Almost 50% of the copper known to exist in sediment-hosted deposits is contained in the CACB, including Ivanhoe Mines Ltd (TSX: IVN) 95-billion-pound Kamoa-Kakula copper deposits in the Congo.

Kupferschiefer, the world's largest silver producer and Europe's largest copper source, is a mining orebody of 0.5 to 5.5-metres thick at depths of 500-metres, grading 1.49% copper and 48.6 g/t silver. The silver yield is almost twice the production of the world's second largest silver mine.

Source: Central African Belt Descriptive models, grade-tonnage relations, and databases for the assessment of sediment-hosted copper deposits with emphasis on deposits in the Central Africa Copperbelt, Democratic Republic of the Congo and Zambia by USGS 2010. Kamoa-Kakula by OreWin March 2020. World Silver Survey 2020 and Kupferschiefer Deposits & Prospects in SW Poland, September 27, 2019. Max cautions investors that the presence of copper mineralization of the Central African Copper Belt and the Polish Kupferschiefer are not necessarily indicative of similar mineralization at CESAR.

Figure 1. SP copper-silver rich mineralization (876502)

To view an enhanced version of Figure 1, please visit:
https://www.maxresource.com/images/gallery/MXR_News_35.jpg

Figure 2. SP mineralized rock samples (876130 and 876233)

To view an enhanced version of Figure 2, please visit:
https://www.maxresource.com/images/gallery/MXR_News_36.jpg

QUALITY ASSURANCE

All CESAR rock chip samples are shipped to ALS Lab's sample preparation facility in Medellin, Columbia. Sample pulps are then sent to Lima, Peru, for analysis. All samples are analyzed using ALS procedure ME-MS41, a four-acid digestion with inductively coupled plasma finished. Over-limit copper and silver are determined by ALS procedure OG-62, a four-acid digestion with an atomic absorption spectroscopy finish. ALS Labs is independent from Max.

Max uses standard chip and channel sampling where possible, but also relies on composite grab sampling. Max considers composite grab samples to be representative but cautions investors that individual grab samples can be selective and may not be representative of continuous mineralization at CESAR.

QUALIFIED PERSON

The Company's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Tim Henneberry, P Geo (British Columbia), a member of the Max Resource Advisory Board, who serves as a qualified person under the definition of National Instrument 43:101.

CESAR COPPER-SILVER PROJECT IN COLOMBIA – OVERVIEW

CESAR lies along the copper-silver rich 200-kilometre-long Cesar Basin in northeastern Colombia. This region enjoys major infrastructure resulting from oil & gas and mining operations, including Cerrejon, the largest coal mine in Latin America, now held by global miner Glencore (refer to Figure 3).

Figure 3. CESAR Project location.

To view an enhanced version of Figure 3, please visit:
https://www.maxresource.com/images/gallery/MXR_News_37.jpg

Due to the district-scale and copper-silver prospectivity of the Cesar Basin, Max has implemented a multi-faceted exploration program for 2021:

Advanced Drill Core Analysis and Modelling: ongoing interpretation of seismic sections and analysis of historical drill holes are all being integrated into our structural modelling of the Cesar Basin, in collaboration with Ingeniería Geológica Universidad Nacional de Colombia ("IGUN") in Medellín (January 7, 2021 NR).

Geochemical and Mineralogical: research programs by the University of Science and Technology ("AGH") of Krakow, Poland. AGH bring their extensive knowledge of KGHM's world renowned Kupferschiefer sediment-hosted copper-silver deposits in Poland to the CESAR project.

Geophysical: Fathom Geophysics is interpreting seismic data, funded by the Company in collaboration with one of the world's leading copper producers.

Proprietary Field Exploration & Techniques: Max's in-country exploration teams continue to target new copper-silver stratabound mineralized zones.

CESAR North 80-kilomtre-long-copper-silver zone:
- In 2020, Max discovered both the copper-silver rich AMS (previously named AM South) zone and the AMN (previously named AM North) zone 40-km north, collectively spanning over 45-km², highlight values of 0.1 to 34.4% copper and 5 to 305 g/t silver over intervals ranging 0.1 to 25.0-metres;
- In March 2021, Max's announced the CONEJO discovery, now spanning 3.2-km by 1.6-km and open in all directions. CONEJO returned values greater than 5.0% copper from 23 rock panels varying from 5.0m by 5.0m to 1.0m by 1.0m, 66 rock panel samples returned values over 1.0% copper (March 24, 2021 NR):
  - 12.5% copper + 84 g/t silver over 5.0-metre by 5.0-metre
  - 10.5% copper + 50 g/t silver over 3.0-metre by 2.0-metre
  - 10.4% copper + 95 g/t silver over 5.0-metre by 5.0-metre
  - 10.2% copper + 62 g/t silver over 5.0-metre by 5.0-metre
  - 10.0% copper + 80 g/t silver over 5.0-metre by 5.0-metre
  - 8.7% copper + 89 g/t silver over 5.0-metre by 5.0-metre
  - 8.4% copper + 60 g/t silver over 5.0-metre by 5.0-metre
  - 7.9% copper + 21 g/t silver over 5.0-metre by 5.0-metre
  - 7.7% copper + 84 g/t silver over 5.0-metre by 5.0-metre
  - 7.4% copper + 47 g/t silver over 5.0-metre by 5.0-metre
- The 2021 URU discovery is located 30-km south of CONEJO, now expanded to 12-km² and open in all directions. URU appears to have major-scale potential; Thirteen rock samples over widths ranging from 10 to 25-metres returned values of 2.0% copper and above, thirty-seven returned values greater than 1.0% copper, with highlight values of 5.7 % copper and 37 g/t silver:
  - 4.3% copper and 8 g/t silver over widths of 10-metres
  - 3.9% copper and 7 g/t silver over widths of 10-metres
  - 3.6% copper and 12 g/t silver over widths of 10-metres
  - 3.0% copper and 6 g/t silver over widths of 10-metres
  - 3.0% copper and 37 g/t silver over widths of 10-metres
- Late April 2021, Max identified the SP target, which lies along the mid portion of the CESAR North 80-km belt, in line with the four previous copper discoveries URU, CONEJO, AMN and AMS;
- Exploration continues on the CONEJO and URU zones;
- In addition, Max has initiated the process of mineral claim approvals and drill permitting;

CESAR West: Max has identified copper porphyry-style mineralization along a significant target zone.

ABOUT MAX RESOURCE CORP.

Max Resource Corp. is a copper and precious metals exploration company, engaged in advancing both the newly discovered district-scale CESAR copper-silver project (100% owned) in Colombia and the newly acquired RT Gold project (100% earn-in) in Peru. Both projects have potential for the discovery of large-scale mineral deposits; both stratabound-type copper-silver in Colombia and high-grade gold porphyry and massive sulfide in Peru.

Max Resource was awarded a Top 10 Ranked Company in the Mining Sector on the TSX Venture 50™ for 2021, achieving a market cap increase of 1,992% and a share price increase of 282% in 2020.

For more information visit: https://www.maxresource.com/
For more information visit: www.tsx.com/venture50
TSX Venture 50™ for 2021 video: MAX Resource Corp. (TSXV: MXR) – 2021 TSX Venture 50 – YouTube

For additional information contact:

Max Resource Corp.
Tim McNulty
E: info@maxresource.com
T: (604) 290-8100

*The Venture 50 ranking is provided by TSX Venture Exchange Inc. ("TSXV") for information purposes only. Neither TMX Group Limited nor any of its affiliated companies guarantees the completeness of this information and are not responsible for any errors or omissions in or any use of, or reliance on, this information. The Venture 50 program is not an invitation to purchase securities listed on TSX Venture Exchange. TSXV and its affiliates do not endorse or recommend any of the referenced securities or issuers, and this information should not be construed as providing any trading, legal, accounting, tax, investment, business, financial or other advice and should not be relied on for such purposes."

Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the commercialization plans for Max Resources Corp. described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/95288

Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the right price. For example, although software-as-a-service business Salesforce.com lost money for years while it grew recurring revenue, if you held shares since 2005, you'd have done very well indeed. But while the successes are well known, investors should not ignore the very many unprofitable companies that simply burn through all their cash and collapse.

So should Berkeley Energia (ASX:BKY) shareholders be worried about its cash burn? In this article, we define cash burn as its annual (negative) free cash flow, which is the amount of money a company spends each year to fund its growth. The first step is to compare its cash burn with its cash reserves, to give us its 'cash runway'.

See our latest analysis for Berkeley Energia

When Might Berkeley Energia Run Out Of Money?

A cash runway is defined as the length of time it would take a company to run out of money if it kept spending at its current rate of cash burn. In June 2021, Berkeley Energia had AU$79m in cash, and was debt-free. Looking at the last year, the company burnt through AU$5.7m. So it had a very long cash runway of many years from June 2021. While this is only one measure of its cash burn situation, it certainly gives us the impression that holders have nothing to worry about. You can see how its cash balance has changed over time in the image below.

How Is Berkeley Energia's Cash Burn Changing Over Time?

While Berkeley Energia did record statutory revenue of AU$23k over the last year, it didn't have any revenue from operations. That means we consider it a pre-revenue business, and we will focus our growth analysis on cash burn, for now. While it hardly paints a picture of imminent growth, the fact that it has reduced its cash burn by 23% over the last year suggests some degree of prudence. Admittedly, we're a bit cautious of Berkeley Energia due to its lack of significant operating revenues. We prefer most of the stocks on this list of stocks that analysts expect to grow.

Can Berkeley Energia Raise More Cash Easily?

Even though it has reduced its cash burn recently, shareholders should still consider how easy it would be for Berkeley Energia to raise more cash in the future. Companies can raise capital through either debt or equity. Commonly, a business will sell new shares in itself to raise cash and drive growth. By comparing a company's annual cash burn to its total market capitalisation, we can estimate roughly how many shares it would have to issue in order to run the company for another year (at the same burn rate).

Berkeley Energia's cash burn of AU$5.7m is about 7.4% of its AU$76m market capitalisation. That's a low proportion, so we figure the company would be able to raise more cash to fund growth, with a little dilution, or even to simply borrow some money.

So, Should We Worry About Berkeley Energia's Cash Burn?

It may already be apparent to you that we're relatively comfortable with the way Berkeley Energia is burning through its cash. For example, we think its cash runway suggests that the company is on a good path. And even though its cash burn reduction wasn't quite as impressive, it was still a positive. After taking into account the various metrics mentioned in this report, we're pretty comfortable with how the company is spending its cash, as it seems on track to meet its needs over the medium term. Taking a deeper dive, we've spotted 5 warning signs for Berkeley Energia you should be aware of, and 3 of them don't sit too well with us.

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

Toronto, Ontario–(Newsfile Corp. – September 1, 2021) – Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") today announced that it has received trading approval from OTC Markets and is now actively trading on the OTCQB Venture Market under the new ticker symbol PTUUF. You can visit the company profile at https://www.otcmarkets.com/stock/PTUUF/overview.

"As our U.S. investor base grows, we felt it important to upgrade to the OTCQB Market," said Chris Frostad, President & CEO at Purepoint. "This listing will allow for increased accessibility to U.S.-based retail and institutional investors."

To view this week's interview with Chris Frostad by Matthew Gordon at Crux Investor, please visit: https://youtu.be/j9hDoeLBCr0.

The OTC Venture Market (OTCQB) offers Canadian companies the benefits of being publicly traded in the U.S. with lower cost and complexity than a U.S. exchange listing. Streamlined market standards enable Canadian companies to provide a strong baseline of transparency to inform and engage U.S. investors. To be eligible, Canadian companies must be current in their SEDAR reporting and undergo an annual verification and management certification process.

As a verified market with efficient access to U.S. investors, the OTCQB helps Canadian companies build shareholder value with a goal of enhancing liquidity and achieving fair valuation. As a result, more Canadian companies are traded on OTC Markets than on NYSE, NYSE MKT and NASDAQ combined. The key benefits of trading on the OTC Markets includes efficient market standards, transparency, and visibility. Companies may leverage their SEDAR disclosure (SEC Exchange Act Rule 12g3-2(b)). There are no Sarbanes-Oxley and SEC Reporting requirements to trade on OTCQB, bypassing burdensome, costly and duplicative NYSE and NASDAQ listing requirements.

OTCQB is recognized by the SEC as an established public market. OTCQB companies provide current company information and meet financial standards that enable brokers to more easily quote and trade a security. Companies engage a far greater network of U.S. investors, data distributors and media partners, ensuring U.S. investors have access to the same high-quality information that is available to investors in Canada, but through U.S. platforms and portals to conduct research.

About Purepoint

Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) actively operates an exploration pipeline of 12 advanced projects in Canada's Athabasca Basin, the world's richest uranium region. Purepoint's flagship project is the Hook Lake Project, a joint venture with two of the largest uranium suppliers in the world, Cameco Corporation and Orano Canada Inc. The Hook Lake JV Project is on trend with recent high-grade uranium discoveries including Fission Uranium's Triple R Deposit and NexGen's Arrow Deposit and encompasses its own Spitfire discovery (53.3% U3O8 over 1.3m including 10m interval of 10.3% U3O8). Together with its flagship project, the Company's projects stretch across approximately 185,000 hectares of claims throughout the Athabasca Basin. These claims host over 20 distinct and well-defined drill target areas with advanced geophysical surveys completed, and in some cases, have had first pass drilling performed.

Scott Frostad BSc, MASc, PGeo, Purepoint's Vice President, Exploration, is the Qualified Person responsible for technical content of this release.

For more information, please contact:

Chris Frostad, President & CEO
Phone: (416) 603-8368
Email: cfrostad@purepoint.ca

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

Disclosure regarding forward-looking statements

This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/95053

* Andrew Forrest's Wyloo raises bid for Noront

* Wyloo bids C$0.70 a share vs BHP's C$0.55

* BHP to waive standstill clause for Wyloo to conduct due diligence (Adds details from BHP, Noront statements)

Aug 31 (Reuters) – BHP Group said on Tuesday it would consider matching a raised bid by billionaire Andrew Forrest's Wyloo Metals for nickel miner Noront Resources Ltd as the two tussle for the supply of a key battery metal used in electric vehicles (EV).

The statement follows Wyloo indicating it was willing to pay 27% more than what BHP had offered for the Canadian company, proposing that it could keep Noront public or buy out the remaining shares it does not already own.

At stake in the scramble for Noront is the Eagle's Nest nickel asset in Canada's so-called Ring of Fire, a high-grade deposit of the metal, as well as copper and palladium.

Wyloo's proposed sweetened bid of C$0.70 per share, up from C$0.315, compares with an offer of C$0.55 per share from BHP in July.

The Forrest-owned company is Noront's largest shareholder with a stake of around 24%, according to Refinitiv data, and has said it would not support the Anglo-Australian firm's bid.

BHP said in a statement on Tuesday it would "consider its alternatives if a competing offer does materialize, including its right to match any superior proposal."

Noront said it continues to back BHP's offer as Wyloo has yet to make a binding offer.

A bone of contention in Wyloo gaining access to due diligence on Noront has been a standstill clause that BHP said it would waive.

($1 = 1.2606 Canadian dollars) (Reporting by Nikhil Kurian Nainan, additional reporting by Riya Sharma and Savyata Mishra in Bengaluru; Editing by Shounak Dasgupta and Aditya Soni)

Toronto, Ontario–(Newsfile Corp. – August 31, 2021) – Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") today provided the final assay results from its 2021 drill programs at the 100%-owned Red Willow and Umfreville projects, both located within the eastern uranium mine district of the Athabasca Basin, Saskatchewan, Canada. The 2021 Red Willow drill program conducted follow-up testing of the Osprey Zone and Geneva Shear while the 2021 Umfreville drill program tested a strong gravity low response coincident with a uranium-in-soil anomaly.

"Our Spring drill season tested three independent targets across our Red Willow and Umfreville projects and we're pleased to report that uranium intercepts returned from both these projects necessitate follow-up drilling," said Scott Frostad, VP Exploration at Purepoint.

"The most surprising results came from Purepoint's inaugural drilling of a gravity low response at Umfreville where 0.04% U₃O₈ was returned over 0.8 metres from granitic gneiss and pelitic gneiss basement rocks," said Frostad. "The precipitation of secondary uranium in the basement rocks appears to explain the source of the uranium-in-soil anomalies and suggests a significant mineralization event in the vicinity. Our next obvious drill targets at Umfreville are towards the east where strong north-south trending structures, interpreted from the airborne magnetics, crosscut our gravity low response."

Highlights:

Umfreville diamond drill hole UMF21-01 returned 3.1 metres of anomalous uranium (0.013% U₃O₈) including 0.8 metres at 0.04% U₃O₈
Red Willow's Geneva shear returned 0.012% U₃O₈ over 5.5 metres and an additional 0.06% U₃O₈ over 0.4 metres from drill hole GEN21-05
Next step targets are now being developed and prioritized for follow up
Initial drilling at Purepoint's Henday Lake Project is scheduled for early Fall

Umfreville – 2021 Drill Results
The initial hole by Purepoint at the Umfreville project, UMF21-01, tested an east-west trending gravity low response that is coincident with both a magnetic low response and a uranium-in-soil anomaly. The unconformity was intersected 223 metres downhole and the basement rocks consisted of granitic gneiss and pelitic gneiss. Elevated radioactivity was intersected near the base of the paleoweathering returning 36 ppm U over 17.4 metres between 239.1 and 256.5 metres. A second radioactive intercept, starting at 273 metres downhole, returned 107 ppm U over 3.1 metres and included 304 ppm U over 0.8 metres.

Based on the results, a follow-up hole has been proposed east of UMF21-01 where interpreted north-south trending structures appear to be cross-cutting our strong elongate gravity/magnetic low response.

Red Willow – Geneva Zone 2021 Drill Results
Three drill holes tested the Geneva Shear from the same drill pad and were between 190 and 300 metres in total length. The initial 2021 hole, GEN21-03, intersected the Geneva Shear at a downhole depth of 135.5 metres and returned 31 ppm U over 3.4 metres. The follow-up hole, GEN21-04, intersected the shear much deeper at 274 metres and returned 29 ppm U over 4.6 metres.

The third hole, GEN21-05, intersected the Geneva shear further northeast and just below the basement paleoweathering zone starting at a depth of 157 metres. The graphitic/pyritic shear zone was within Pelitic Gneiss that displayed strong hydrothermal alteration, including hematite and local silicification. The zone returned 98 ppm U over 5.5 metres and an additional 527 ppm U over 0.4 metres.

The radioactive Geneva Shear is now determined as having a strike of 155 degrees and a dip towards the northwest at -70 degrees. The projection of the shear towards the northeast now suggests that previous vertical drillholes completed by Eldorado in 1984, searching for Unconformity-style mineralization, would not have drilled deep enough to test this basement-hosted structure.

Based on the 2021 drill results, follow-up drilling of the Geneva shear is now recommended along strike towards the northeast at a depth just below the paleoweathering.

Red Willow – Osprey Zone 2021 Drill Results
Three drill holes, drilled from the same drill pad and each averaging 200 metres in length, targeted the Hinge fault north of previous drilling. Two initial drill holes were completed on the same section, OSP21-01 and 02, and both successfully intersected the fault at 70 and 140 metres below surface, respectively. The structure was determined to have a strike of 5 degrees NE and was still associated with strong alteration; however, the radioactivity was weaker (10 ppm U over 15.3 m) than previous drilling.

Hole OSP21-03 targeted the projection of the Hinge Fault where it meets the east-west trending electromagnetic (EM) conductor that hosts the known Osprey uranium mineralization. The fault was intersected from 60 to 75 metres downhole with the host rock comprised of weakly chlorite and hematite altered pyritic graphitic pelitic gneiss. The fault at this location included intervals of strong silicification and again returned weak radioactivity (23 ppm U over 1.7m).

The next exploration priority within the Osprey Zone is considered to be the Osprey Conductor North. The EM conductor continues for an additional 2 kilometres north of previous Purepoint drilling and has only been tested by two historic (1993) drill holes.

Spring 2021 Results from Umfreville and Red Willow Drill Programs:

Project	Hole ID	From (m)	To (m)	Interval (m)	U (ppm)	U3O8 (%)
Umfreville	UMF21-01	239.1	256.5	17.4	36	0.004
		273.4	276.5	3.1	107	0.013
	Including	273.8	274.6	0.8	304	0.036
		299.0	300.9	1.9	20	0.002
Red Willow	GEN21-03	135.5	138.9	3.4	31	0.004
		148.0	154.3	6.3	15	0.002
	GEN21-04	273.5	282.1	4.6	29	0.003
	GEN21-05	157.0	162.5	5.5	98	0.012
	Including	160.7	162.5	1.8	127	0.015
		177.4	177.8	0.4	527	0.062
	OSP21-01	114.0	114.3	0.3	42	0.005
	OSP21-02	73.5	88.8	15.3	10	0.001
		121.9	126.0	3.4	14	0.002
	OSP21-03	66.0	67.7	1.7	23	0.003

The next planned drill program will be at the 100%-owned Henday Lake Project, located 9 km northwest of Orano's Midwest Lake deposit (41mm lbs U3O8) and 10km west of Rio Tinto's Roughrider deposit (57mm lbs U3O8). The project is fully permitted, drilling crew has been secured to start drilling in early Fall 2021.

About Purepoint

Scott Frostad BSc, MASc, PGeo, Purepoint's Vice President, Exploration, is the Qualified Person responsible for technical content of this release.

For more information, please contact:
Chris Frostad, President & CEO
Phone: (416) 603-8368
Email: cfrostad@purepoint.ca

For additional information please visit our new website at https://purepoint.ca, our Twitter feed: @PurepointU3O8 or our LinkedIn page @Purepoint-Uranium.

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

Disclosure regarding forward-looking statements

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/94959

Tuesday, August 31, 2021

The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Adobe Inc. (ADBE), Thermo Fisher Scientific Inc. (TMO), and BHP Group (BHP). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.

You can see all of today’s research reports here >>>

Shares of Adobe have modestly outperformed the Zacks Software industry in the year to date period (+33.1% vs. +32.5%) as the company continues to benefit from strong demand for its cloud products. The company’s Creative Cloud, Document Cloud and Adobe Experience Cloud products have been supporting its top-line growth.

Rising subscription revenues and solid momentum across the mobile apps remain major positives. Growth in emerging markets, robust online video creation demand, strong Acrobat adoption and improving average revenue per user remain tailwinds. Lower end-market demand and high acquisition expenses remain major overhangs though.

(You can read the full research report on Adobe here >>>)

Thermo Fisher shares have gained +20.8% over the last six months against the Zacks Medical Instruments industry’s gain of +10.1%. The Zacks analyst believes that it has been expanding its inorganic growth profile on the back of several takeovers.

The company witnessed strong end market growth in the second quarter on the back of robust fundamentals in the life sciences, strong economic activity globally and strong pandemic response. Its second-quarter 2021 COVID-19 response revenues, however, declined to $1.9 billion from the prior quarter’s $2.9 billion. Foreign currency fluctuations and competitive landscape are other major threats to the company.

(You can read the full research report on Thermo Fisher here >>>)

Shares of BHP Group have lost -13.2% in the past three months against the Zacks Mining – Miscellaneous industry’s loss of -9.9%, however, BHP Group’s fiscal 2021 revenues and underlying attributable profit improved year over year.

The Zacks analyst believes that strong cash generation, investment in growth projects and higher operational efficacy, as well as solid long-term outlook for metal prices bode well for BHP Group. Exit of petroleum business, investment in growth projects and decision to unify its dual-listed structure will aid growth as well. The spread of the Delta variant is likely to play a spoil sport for the company. Higher input costs and the recent drop in iron ore prices also remain concerns.

(You can read the full research report on BHP Group here >>>)

Other noteworthy reports we are featuring today include Philip Morris International Inc. (PM), Atlassian Corporation Plc (TEAM) and Chubb Limited (CB).

Sheraz Mian

Director of Research

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VANCOUVER, British Columbia, Aug. 31, 2021 (GLOBE NEWSWIRE) — Orezone Gold Corporation (TSX.V: ORE, OTCQX: ORZCF) (the “Company” or “Orezone”) announces that the matters, as set out in more detail in its Management Information Circular dated August 3, 2021 (the “Circular”), were considered and voted on by shareholders at the special meeting of shareholders held on August 31, 2021.

Shareholders overwhelmingly voted to approve the creation of a potential new control person of the Company, being Resource Capital Fund VII L.P. (“RCF VII”) and the issuance by the Company to RCF VII of a secured convertible debenture, each as more particularly described in the Circular. Shares beneficially owned by RCF VII were excluded from the vote as required by the TSXV.

Mr. Patrick Downey, the Company’s President and CEO, commented, “We are very pleased with the shareholder turnout and thank our shareholders for their support with 99.78% of the eligible shares voting in favour of the RCF VII resolution. With this vote secured, we now expect to close the Convertible Note Facility, the Senior Debt Facility, and the Silver Stream Agreement in September 2021”.

About Orezone Gold Corporation

Orezone Gold Corporation (TSX.V: ORE OTCQX: ORZCF) is a Canadian development company which owns a 90% interest in Bomboré, one of the largest undeveloped gold deposits in Burkina Faso.

The 2019 feasibility study highlights Bomboré as an attractive shovel-ready gold project with forecasted annual gold production of 118,000 ounces over a 13+ year mine life at an All-In Sustaining Cost of US$730/ounce with an after-tax payback period of 2.5 years at an assumed gold price of US$1,300/ounce. Bomboré is underpinned by a mineral resource base in excess of 5 million gold ounces and possesses significant expansion potential. Orezone is fully funded to bring Bomboré into production with the first gold pour scheduled for Q3-2022.

Patrick Downey
President and Chief Executive Officer

Vanessa Pickering
Manager, Investor Relations

Tel: 1 778 945 8977 / Toll Free: 1 888 673 0663
info@orezone.com / www.orezone.com

For further information please contact Orezone at +1 (778) 945-8977 or visit the Company’s website at www.orezone.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.

Cautionary Note Regarding Forward-Looking Statements

This press release contains certain information that may constitute “forward-looking information” within the meaning of applicable Canadian Securities laws and “forward-looking statements” within the meaning of applicable U.S. securities laws (together, “forward-looking statements”). Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "potential", "possible" and other similar words, or statements that certain events or conditions "may", "will", "could", or "should" occur. Forward-looking statements in this press release include, but are not limited to, statements with respect to closing of the Bomboré Project debt package and the Bomboré project being fully funded to production and projected first gold by Q3-2022.

All such forward-looking statements are based on certain assumptions and analyses made by management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management and the qualified persons believe are appropriate in the circumstances.

All forward-looking statements are 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 statements including, but not limited to, delays caused by the COVID-19 pandemic, terrorist or other violent attacks, the failure of parties to contracts to honour contractual commitments, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts to perform as agreed; social or labour unrest; changes in commodity prices; unexpected failure or inadequacy of infrastructure, the possibility of project cost overruns or unanticipated costs and expenses, accidents and equipment breakdowns, political risk, unanticipated changes in key management personnel and general economic, market or business conditions, the failure of exploration programs, including drilling programs, to deliver anticipated results and the failure of ongoing and uncertainties relating to the availability and costs of financing needed in the future, and other factors described in the Company's most recent annual information form and management discussion and analysis filed on SEDAR on www.sedar.com. Readers are cautioned not to place undue reliance on forward-looking statements.

Although the forward-looking statements contained in this press release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this press release.

(Bloomberg) — Andrew Forrest, the billionaire founder of iron ore giant Fortescue Metals Group Ltd., upped his bid to acquire a nickel miner active in Canada’s highly-prospective Ring of Fire region to trump an offer from BHP Group.

Forrest’s Wyloo Metals Pty Ltd. offered to buy Noront Resources Ltd. for C$0.70 per share in cash, beating the C$0.55 per share offer made by BHP in July that Noront’s board agreed to support. Wyloo’s proposal had a higher certainty of success because it already owns about 37.5% of Noront’s shares and does not intend to support BHP’s offer, Wyloo said in a statement.

Global miners are keen to boost their exposure to nickel — a key ingredient in the lithium-ion batteries used in electric vehicles and to store renewable power — and the Ring of Fire region in northern Ontario is seen among Canada’s largest untapped reserves of the metal.

“If shareholders share my view, that it’s impossible to place a value today on a new mining district with the immense potential of these assets, I invite them to hold on to their shares and come along for the ride,” Forrest said in the statement. Under Wyloo’s proposal, Forrest would become chairman of Noront.

BHP said it would wait for a response from the Noront board before determining its next steps.

“It’s important to note that Wyloo has only made a proposal, which is subject to conditions, and has not entered into any binding agreement with Noront in respect of a transaction or a formal offer,” a spokesman for BHP said by email. “The BHP offer is the only offer that has been made to shareholders.”

‘Not an Offer’

Noront continues to support BHP’s offer and called Wyloo’s approach “a non-binding proposal” that is “not an offer,” according to a Tuesday statement by the company.

“Wyloo has not entered into any binding agreement with Noront in respect of a proposed transaction, nor has it made a formal offer to the company’s shareholders,” Noront said in the statement. “There can be no assurance that a transaction will crystallize from the Wyloo proposal.”

Noront’s shares jumped 25% on Monday following news of Wyloo’s offer to end at C$0.76, a premium to Wyloo’s offer which suggests the market sees potential for the bidding war to escalate further.

(Adds Noront comment in seventh, eighth paragraphs.)

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If you want to know who really controls NexGen Energy Ltd. (TSE:NXE), then you'll have to look at the makeup of its share registry. Institutions will often hold stock in bigger companies, and we expect to see insiders owning a noticeable percentage of the smaller ones. Companies that have been privatized tend to have low insider ownership.

With a market capitalization of CA$2.7b, NexGen Energy is a decent size, so it is probably on the radar of institutional investors. Our analysis of the ownership of the company, below, shows that institutional investors have bought into the company. Let's take a closer look to see what the different types of shareholders can tell us about NexGen Energy.

See our latest analysis for NexGen Energy

What Does The Institutional Ownership Tell Us About NexGen Energy?

Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices.

As you can see, institutional investors have a fair amount of stake in NexGen Energy. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at NexGen Energy's earnings history below. Of course, the future is what really matters.

Hedge funds don't have many shares in NexGen Energy. The company's largest shareholder is Li Ka Shing (Global) Foundation, Endowment Arm, with ownership of 6.2%. Meanwhile, the second and third largest shareholders, hold 4.3% and 4.1%, of the shares outstanding, respectively. Additionally, the company's CEO Leigh Curyer directly holds 0.9% of the total shares outstanding.

A deeper look at our ownership data shows that the top 25 shareholders collectively hold less than half of the register, suggesting a large group of small holders where no single shareholder has a majority.

Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. While there is some analyst coverage, the company is probably not widely covered. So it could gain more attention, down the track.

Insider Ownership Of NexGen Energy

The definition of an insider can differ slightly between different countries, but members of the board of directors always count. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO.

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

I can report that insiders do own shares in NexGen Energy Ltd.. The insiders have a meaningful stake worth CA$33m. Most would see this as a real positive. It is good to see this level of investment by insiders. You can check here to see if those insiders have been buying recently.

General Public Ownership

The general public collectively holds 58% of NexGen Energy shares. With this amount of ownership, retail investors can collectively play a role in decisions that affect shareholder returns, such as dividend policies and the appointment of directors. They can also exercise the power to vote on acquisitions or mergers that may not improve profitability.

Private Company Ownership

It seems that Private Companies own 4.3%, of the NexGen Energy stock. It might be worth looking deeper into this. If related parties, such as insiders, have an interest in one of these private companies, that should be disclosed in the annual report. Private companies may also have a strategic interest in the company.

Public Company Ownership

Public companies currently own 8.2% of NexGen Energy stock. This may be a strategic interest and the two companies may have related business interests. It could be that they have de-merged. This holding is probably worth investigating further.

Next Steps:

While it is well worth considering the different groups that own a company, there are other factors that are even more important. For example, we've discovered 3 warning signs for NexGen Energy that you should be aware of before investing here.

If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future.

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

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

TORONTO, Aug. 31, 2021 (GLOBE NEWSWIRE) — Sparton Resources Inc. (TSXV: SRI) ("Sparton" or the "Company") reported today that construction of a world class 100MW/500MWh Storage system by VRB Energy Inc. has officially started. The project, launched in Xiangyang, Hubei Province, China, is being implemented by Hubei Province and the State Power Investment Group as part of China’s national "Carbon Neutral and Carbon Peak Strategy". The total investment in the project is RMB 9.32 billion (CAD $1.814 billion). RMB 5 billion (CAD $973.3 Million) will be invested in the construction of the 1GW wind power and photovoltaic power generation projects, and 4.32 billion (CAD $841 Million) will be invested in the construction of the initial 100MWh all-vanadium redox flow battery energy storage power station along with500MW of distributed rooftop photovoltaic installations. The Company currently owns, through its subsidiary VanSpar Mining Inc., a 9.8% equity interest in VRB Energy, a leading manufacturer of vanadium flow batteries for large scale energy storage related to clean renewable electricity generation. (See Sparton News Release dated July 2, 2021).

The official opening ceremony was held on August 29, 2021, in the Xiangyang New High-Tech Park, Hubei, China, for the 100MW/500MWh Vanadium Redox Flow Battery Energy Storage Power Station. This was commissioned by the Hubei Green-Move Zhongvan New Energy Co., Ltd. (“Green Move ZF”) In attendance were Senior Party and Government leaders from the Xiyang Municipality, representatives from the State Power Investment Group, Hubei Branch, shareholders of Green-Move ZF, and the executives from the key project partners VRB Energy and the China Number 11 Railway Construction Group.

Green Move ZF, is jointly owned by the Hubei State Power Investment Corporation known as “Hubei Green-move New Energy Co. Ltd.) (70% share interest), Hubei Pingfan Ruifeng New Energy Co., Ltd. (20% share interest) and Wuhan Fudi Real Estate Development Co., Ltd. (10% share interest).

The Power Station for the Project is located in the Automobile Industrial Park, of the Xiangyang High-tech Development Zone, and will occupy an area of about 8 hectares. The station is expected to be officially commissioned for operation before the end of 2022.

Dr. Huang Mianyan, CEO of VRB Energy Inc. stated that, “The opening ceremony marks the official construction stage of the 100MWh all-vanadium flow battery energy storage project, which will accelerate the promotion of energy storage using vanadium flow battery energy systems in Hubei. The application of our new technology has laid a solid foundation for new business. VRB Energy has participated since 2019, in the construction of the first phase of the 3MW + 3MW/12MWh vanadium redox flow battery energy storage phase of the 10MW solar and storage project in Hubei Zaoyang, and the project is working well. The operation has fully confirmed the huge application value and market prospects of VRB Energy’s storage technology and will promote the grid connection and on-site consumption of renewable energy. VRB Energy will fully cooperate and support the owner of the project with the highest standards of workmanship and implementation and operation of its energy storage systems and equipment and will deliver this project as another successful example of vanadium flow battery energy storage applications in China.”

About VRB Energy

VRB Energy is a fast-growing, privately held clean technology innovator. The company has developed the most reliable, longest-lasting vanadium flow battery in the world, with more than 40 megawatt-hours installed and in construction worldwide, and more than 800,000 hours of demonstrated performance. The combination of VRB Energy’s proprietary low-cost ion-exchange membrane, long-life electrolyte formulation and innovative flow cell design sets it apart from other providers.

VRB Energy’s vanadium redox battery (VRB^®) systems store energy in liquid electrolyte in a patented process based on the reduction and oxidation of ionic forms of the element vanadium. This is a nearly infinitely repeatable process that is safe, reliable, and non-toxic. Components can be nearly 100% recycled at end-of-life, dramatically improving lifecycle economics and environmental benefits compared to lithium-ion and other battery types.

VRB Energy is majority-owned by Ivanhoe Electric (formerly High Powered Exploration), a North American, minerals exploration and development company that also invests in minerals-dependent, high-growth emerging technologies. Ivanhoe Electric is a subsidiary of I-Pulse, a global leader in developing innovative commercial applications for pulsed power technologies that convert small amounts of electrical energy into limitless power to address a broad and growing suite of applications across multiple industrial markets.

Sparton’s Interest in VRB Energy

Sparton’s 89.8% owned subsidiary, VanSpar Mining Inc., registered in the British Virgin Islands, owns 9.8% of VRB Energy which is registered in the Cayman Islands, which in turn owns 100% of VRB Energy Systems, registered in China, and is the vanadium flow battery manufacturer. Full information regarding the history of the VRB Energy investment interest held by Sparton is in its various news releases and available at www.sedar.com in its corporate filings.

NOTE:
One (1) RMB ( China) = CAD $0.20 Canadian Dollars

For more information contact:
A. Lee Barker, M.A Sc., P. Eng.,
President and CEO
Tel./Fax: 647-344-7734 or Mobile: 416-716-5762
Email: info@spartonres.ca Website:www.spartonres.ca

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

Forward-Looking Statements
Information set forth in this news release involves forward-looking statements under applicable securities laws. The forward-looking statements contained herein include, but are not limited to, financings and transactions being pursued, and all such forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although the Company believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct and, accordingly, undue reliance should not be put on such forward-looking statements. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein.

We Seek Safe Harbour

MELBOURNE (Reuters) – Global miner BHP Group is mulling whether to make vaccinations for COVID-19 mandatory at its workplaces in Australia as the country's east battles ballooning virus cases.

The world's biggest miner on Monday set out measures it was taking to support vaccination in communities where it operates including on-site jabs at its Mt Arthur Coal Mine in New South Wales state that are to begin this week.

The state has become the epicentre of Australia's current coronavirus outbreak, having declared a record 1,290 new cases on Monday as the nation struggles to contain the highly contagious Delta variant.

Although Australia has used a system of strict lockdowns and quarantine to keep coronavirus infection and death rates lower than in most comparable nations, the Delta variant is now pressuring health services. Residents of its two biggest cities have been on strict lockdown for more than a month.

BHP said in a statement that it was actively assessing vaccination as a condition of entry to its workplaces.

"As vaccinations become more accessible to all Australians, we have been encouraging our people to better protect themselves and their families and communities, and we will look for further opportunities to increase access and uptake of vaccinations," Edgar Basto, who runs BHP's Minerals Australia business, said.

BHP expects to complete its assessment in September, with a policy likely to come into effect in early 2022, once people have had a reasonable opportunity to be fully vaccinated.

The miner is funding a new vaccine hub in central Queensland near its coal joint venture with Mitsubishi Corp, and is working with South Australian health authorities to establish a mobile clinic near its Olympic Dam copper mine.

It is also working with health officials in Western Australia to support vaccine rollouts in the Pilbara region, the heart of its iron ore operations, it said.

(Reporting by Melanie Burton in Melbourne; Editing by Matthew Lewis)

(Bloomberg) — Fortescue Metals Group Ltd. is planning to unveil targets for reducing the carbon footprint of its biggest customers, marking a shift in approach for the world’s no. 4 exporter of iron ore.

The firm will follow rivals including Rio Tinto Group and BHP Group in setting specific goals to cut so-called scope 3 emissions, which in Fortescue’s case are generated by steel-makers using the company’s iron ore. Founder and chairman Andrew Forrest was previously not in favor of setting such benchmarks.

“Fortescue resisted setting Scope 3 targets until it had a concrete plan that could really help its customers decarbonize,” Forrest said on the media call following the company’s annual results. More details, including the targets, will be unveiled by September 30.

Global resources companies are under increasing pressure to be more accountable for emissions beyond their own operations, with powerful investors including Norway’s $1.3 trillion sovereign wealth fund threatening to drop firms that don’t meet their environmental standards.

Efforts to reduce scope 3 emissions should focus on developing technology to make climate-friendly steel cheaper, Forrest said. He has previously predicted that the coal-fired blast furnace still dominating the steel industry will be obsolete by 2050, and is investing in projects to supply hydrogen that could help to decarbonize the sector.

Gas Powered

The company will set aside 10% of annual profit to invest in hydrogen, ammonia and other green industrial projects backed by renewable power, marshaled by its Fortescue Future Industries division. Forrest’s plan is to supply over 15 million tons of hydrogen, produced from renewable power, by 2030.

Rio Tinto said in February it would collaborate with customers to reduce the carbon intensity of steel-making by at least 30% by 2030, and aim for carbon-neutral steel-making by 2050. BHP Group also has targets for reducing scope 3 emissions.

Fortescue has been working with buyers “for some time” on reducing their emissions, Chief Executive Officer Elizabeth Gaines said on the same call. The Perth-based company is targeting net-zero greenhouse gases from its own operations by 2030, well ahead of a 2050 goal set by Rio and BHP.

Fortescue’s scope 3 emissions — the bulk of which come from the steel manufacturing process — were 252 million tons of CO2-equivalent in its 2021 fiscal year, according to its latest climate change report. That compares to gross operational emissions — scopes 1 and 2 — of 2.2 million tons.

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While prices for industrial metals like copper and iron ore have been weaker, Chris LaFemina, a mining analyst at Jefferies, is upbeat on the sector. Among diversified miners, BHP (ticker: BHP), at $66, is down 20% from its peak; Rio Tinto (RIO) is off 19%, to $75; Anglo American (NGLOY) is off 13%, to $21; and Freeport-McMoRan (FCX), a global copper producer, is down 21% from its peak to $36. Copper prices, down about 10% from their spring peak, to $4.33 a pound, have held up better than iron ore, which is off 40% from its high, to $145 a ton.

PERTH, Australia, Aug. 26, 2021 /CNW Telbec/ – Galaxy Resources Limited (ASX: GXY) (Company) advises that the following announcement has been made to the Australian Securities Exchange which appears on the Company's platform (ASX):

Merger of Galaxy and Orocobre Implemented

The announcement can be viewed at:

https://www2.asx.com.au/markets/trade-our-cash-market/announcements.gxy

SOURCE Galaxy Resources Limited

Cision

View original content: http://www.newswire.ca/en/releases/archive/August2021/26/c8739.html

TORONTO, Aug. 26, 2021 (GLOBE NEWSWIRE) — Sparton Resources Inc. (TSXV: SRI) ("Sparton" or the "Company") reported today that it has raised approximately $600,000 in new capital through the exercise of outstanding warrants and incentive stock options. Ninety-five percent (95%) of the outstanding warrants from the 2020 Company financing (see Sparton news release dated August 3^rd, 2020) were exercised, as well as seventy-four (74%) percent of the outstanding incentive stock options. Funds will be used to support Company exploration programs, retire a portion of corporate debt and for general corporate purposes.

Exploration Update

Exploration programs have continued during this field season despite local Covid restrictions, manpower shortages and forest fire work bans in certain areas. At Bruell in Quebec, Eldorado Gold has completed mapping and soil geochemical surveys over the entire property and is in the process of compiling all of the results. Depending on equipment availability, drilling is planned for this coming fall.

At the Oakes and Matachewan Area precious metal and copper properties a surface trenching program has been laid out in the field and is expected to begin shortly, when local contractor equipment is available. In addition, initial planning is underway for a possible three-dimensional IP (Induced Polarization) survey covering part of the Oakes area using the 3D Distributed Array System. This IP method reduces the necessity for line cutting on the property and will be used to interpret targets in conjunction with the detailed magnetic survey completed last season.

VRB Energy

VRB Energy continues working on final certification of its advanced Gen3 flow battery system and negotiations for new contracts. The initial 100Mh phase of the Hubei “Giga factory” project has begun with cell stack manufacturing underway at VRB Energy’s Beijing area factory. We anticipate a series of major announcements relating to program developments over the coming months.

Dr. Mynyr Hoxa Joins Advisory Board

Sparton is delighted to welcome Dr. Mynyr Hoxa to its Technical Advisory Board. Dr. Hoxha is a Professional Geoscientist with more than 30 years of mining and exploration industry experience. In 2004, he joined FNX Mining as Senior Geologist and in 2008 was promoted to Chief Geologist. Since 2015, he served as Chief Geologist at the Young Davidson Gold Mine, for Alamos Gold. The Young Davidson Mine is located less than 3 km from Sparton’s Oakes Property. Dr. Hoxha’s experience at Young Davidson will be very valuable to the Company in its work in the Matachewan area. He is very familiar with Sparton’s past work at the Oakes property and understands the geologic controls on mineralization in the area. He has a wealth of relevant experience and a noteworthy track record of base and precious metal discoveries in this region.

Edcor Drilling Services – New Contracts

The Company’s subsidiary, Edcor Drilling, a diamond core drilling service organization, has recently executed contracts for 3,000 meters of new work and is expected to contribute revenue to Sparton in the coming months. Several other contacts are under negotiation and Edcor is expected to be operational at least through year end. Currently the drilling industry is confronted with a major shortage of skilled workers and equipment and the demand has created new opportunities.

New Stock Options

The Sparton board has approved effective August 24^th, 2021, the issuance of a total of 2,700,000 incentive stock options priced at $0.10 per common share, to its directors, advisors, consultants, and officers. Thirty percent (30%) of the options will vest immediately, 30% will vest on August 24^th, 2022, and 40% will vest on August 24^th, 2023.

Discussion

“The Company wishes to thank its stakeholders for their support in exercising the warrants from the 2020 financing as well as the exercise of most of the outstanding stock options. Sparton is looking forward to positive developments on all fronts in the coming months," stated Lee Barker, Company CEO.

For more information contact:

A. Lee Barker, M.A. Sc., P. Eng.
President and CEO
Tel./Fax: 647-344-7734 or Mobile: 416-716-5762
Email: info@spartonres.ca Website: www.spartonres.ca

Forward Looking Statements

Information set forth in this news release involves forward-looking statements under applicable securities laws. The forward-looking statements contained herein include, but are not limited to, financings and transactions being pursued, and all such forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although the Company believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct and, accordingly, undue reliance should not be put on such forward-looking statements. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein. We Seek Safe Harbour.

By Ivana Sekularac and Aleksandar Vasovic

KORENITA, Serbia, Aug 26 (Reuters) – Four years from now, fields in the Jadar river valley in western Serbia where Djorjde Kapetanovic grows corn and soy to feed his cattle will be turned into a waste dump for Europe's biggest lithium mine.

Rio Tinto in July committed $2.4 billion to its Jadar project as global miners push into metals needed for the green energy transition, including lithium, which is used to make electric vehicle batteries. The Jadar project, once completed, would help make Rio a top 10 lithium producer, just as demand for EVs booms.

Opposition to the project is growing, however, because of concerns about possible environmental damage and protest rallies have become more frequent. In April, thousands gathered in Belgrade to protest against widespread pollution in the Balkan country and against the lithium mine near Loznica, 142 km (88 miles) southwest of the capital.

Once it reaches full capacity, the mine is expected to produce 58,000 tonnes of refined battery-grade lithium carbonate per year. That would make it Europe's biggest lithium mine in terms of production, Rio said.

In the village of Korenita, dairy farmer Kapetanovic said the mine, if opened, could leave him without income. Part of his land where he grows crop to feed his animals will be turned into a dump for mining waste, known as tailings, with compensation from the company.

Other areas of his land, his house and a cattle shed will be outside the mine, leaving Kapetanovic worried about exposure to possible pollution.

"Who would want to buy products made on the outskirts of the mine?" said Kapetanovic, who produces 10 tonnes (22,000 lb) of meat and 90,000 litres (23,775 gallons) of milk per year, making him one of the bigger producers in the Loznica area.

Rio Tinto Serbia CEO Vesna Prodanovic said the Anglo-Australian miner would meet all European Union and Serbian environmental regulations, including on the treatment of wastewater.

"There's simply no way for the construction to start without securing licences (and) if all those (EU standards) are not adhered to," she said in an interview.

"We take into account precipitation levels, prescribed dust levels. We take into consideration everything there is in the field. We are making all studies and tests to get clear data about what is the current situation in the area."

One study, commissioned by Rio on the mine’s environmental impact, concluded the mine should not be built as it will cause "irredeemable damage to the biosphere", an abstract obtained by Reuters found.

"The implementation of the planned activities, especially the disposal of industrial waste, will significantly impair biodiversity in the entire area of the planned works," the study by Belgrade University’s Faculty of Biology said.

"In … primary zones of (the mine's) influence, there will be complete and direct destruction of habitats with the disappearance of all organisms that inhabit them."

Rio said the biodiversity study was part of a wider feasibility study and it would conduct further research to "support the most advanced and most expensive solutions in nature protection, which would minimise the impact".

ECONOMIC BOOST

Lithium is central to the European Union's plans to secure an entire supply chain of battery minerals and materials as the use of electric vehicles increases.

Serbia, which sits on the world's 11th largest lithium reserves, is working its way through the accession process to join the EU.

For its own economy, the Jadar project is one of Serbia’s biggest foreign investments to date and could help to tackle rising unemployment in the Balkan country.

Rio said the project would create about 2,100 construction jobs and inject approximately 200 million euros ($235.32 million) per year into the domestic supply chain.

Energy minister Zorana Mihajlovic told Reuters that Serbia aimed, like the EU, to secure the entire production chain, including a potential battery plant and an electric vehicle plant.

Rio's Serbia CEO said the company's studies estimated the project would add 1 percentage point to Serbia's $51.4 billion annual GDP. It would also boost Loznica’s municipal budget by 60-70% annually, she said.

In June, Serbian President Aleksandar Vucic, who is under fire for supporting the project, said a referendum would be held to allow people to decide whether it should go ahead.

The absence of further details on the referendum has worried opponents. In July, Loznica municipal assembly, which is dominated by Vucic's Serbian Progressive Party and its allies, formally gave a green light for mine construction by approving a new municipal plan for land allocation.

Contacted by Reuters, the president's office had no immediate comment.

Rio has bought nearly half of the land required for the mine, which will be spread over roughly 387 hectares.

Some $100 million of Rio's investment has been earmarked for environmental protection, but activists say that is insufficient to compensate for potential damage.

One major concern for environmentalists is Rio's plan to put

waste dumps in the Korenita and Jadar rivers valley, an area prone to flash flooding.

In 2014, Korenita river flooding caused a closed mine's tailings dam to overflow, spilling toxic waste onto agricultural land.

Rio Tinto said it planned to convert the liquid waste into "dry cakes" to make it easier and safer to store and is planning for once-in-a-millennium floods in its construction.

($1 = 0.8499 euros) (Editing by Amran Abocar and Barbara Lewis)

BEDFORD, NS/ ACCESSWIRE / August 26, 2021 / Silver Spruce Resources Inc. (TSXV:SSE)(FRA:S6Q1) ("Silver Spruce" or the "Company") is pleased to announce promising gold and multi-element assay results of its Phase 2 ground exploration program on the 1,130-hectare Jackie Au-Ag property ("Jackie" or the "Property"). The program was focused around a pristine exploration target with encouraging Au-Ag assays from our Phase 1 prospecting and rock sampling (see Figures 1, 2 and 3). The work was performed on a 100-hectare section of the Property with grid-controlled detailed geological mapping and rock sampling focused on a 25-hectare central block covering the core of the gold and silver discovery area with additional wider spaced grid mapping of the surrounding area.

"We are excited about the potential for Jackie given the positive results and an original discovery with our early exploration campaigns. The intense silicate and oxide alteration with high-grade precious metal values ranging up to 9.65 g/t Au and 515 g/t Ag during Phase 1, and up to 4.15 g/t Au and 100 g/t Ag in separate samples during Phase 2, verified and extended the target area anomaly," said Greg Davison, Silver Spruce VP Exploration. "Our Hermosillo-based geological team completed tightly-spaced 25-50 metre grid sampling and mapping which successfully increased the target to 200m x 400m. A distinct northwesterly trend of anomalous precious metal and typical heavy metal pathfinder elements runs parallel to several local and regional lineaments which provide new untested targets for follow-up sampling."

Figure 1. Jackie and Diamante 2 Concession Location Map. Access from Tepoca south on Highway #117 and local road to La Quema. Discovery area 3km north of La Quema is indicated by the white arrow.

Assay results for 10 Phase 2 samples and 3 Phase 1 samples sorted by Au content are presented in Table 1. A total of 310 rock samples were collected to date in two programs.

Table 1. Select assay results sorted by Au g/t from Phase 1 and Phase 2 rock sampling – n=310 samples

Figure 2. Ridge located 50 metres above the valley floor, showing intense oxidation and argillic alteration peripheral to and within large polymetallic anomaly as indicated in Figure 1.

The Company, with a six-person team (two senior geologists, two junior geologist and two field assistants) and all necessary logistical support undertook a Phase 2 exploration program, including rock sampling and geological mapping of known areas exhibiting significant alteration or mineralization (see Figures 2 and 3), collection of structural data and alteration zoning to assist with vectoring toward potential Phase 3 drilling targets. The investigation of several known hyperspectral alteration targets identified from satellite imagery was deferred due to rainy season access limitations. All aspects of the exploration program were conducted with strict adherence to COVID-19 protocols for personal safety.

Figure 3. Outcrop sampling north of exposed ridge with high grade Au 9.56 g/t and Ag 515 g/t – sample 221009 showing intense zeolite, clay and jarosite alteration of andesite

Figure 4 illustrates the Phase 1 geochemistry, based on 75^th, 90^th, 95^th and 98^th percentiles using proportional symbols, for gold with the inset map for Au, Ag, Pb, Zn and Cd. Figure 5 illustrates the Phase 1 results for Au with an inset map for Phase 2 Au distribution. Figure 6 illustrates the Phase 1 and 2 results for Cu. The data clearly show a strong multi-element cluster effect (Au, Ag, Bi, Sb, Cd, Zn and Hg) and strong silicate alteration focused over the principal 200m x 400m target area extending for the pathfinder elements on a general northwesterly trend and open along strike.

The preliminary prospecting program identified a distinctive andesite ridge with intense oxidation, silicification and argillic alteration, and a notable paucity of vegetation located 35-50 metres vertical above the valley floor. Similar alteration, verified by preliminary aiSIRIS results of hyperspectral analysis, from the northern area of the ridge which was covered by thick vegetation, where exposed displayed intense replacement by zeolite, kaolinite, alunite, montmorillonite, opaline silica and muscovite and contained the bulk of the anomalous gold and silver values.

Geochemical analyses clearly identified a strong Au-Ag anomaly, commonly though not exclusively, associated with elevated Hg, Pb, Zn, Cd, As, Sb and Cu with spatial distribution and trends similar to the multi-element data recorded for the nearby El Mezquite property.

Figure 4. Phase 2 grid sampling areas on Phase 1 geochemistry (Au ppm only), Jackie property. Inset map with 50 metre grid location map and multi-element anomaly Au (ppm), Ag (ppm), Pb (ppm), Zn (ppm) and Cd (ppm).

Figure 5. Phase 2 grid sampling area (inset) on Phase 1 geochemistry (Au ppm), Jackie property. Inset map with cluster of anomalous Au and Ag assays up to 4.15 g/t Au and 100 g/t Ag in separate samples.

Figure 6. Phase 2 grid sampling area (inset) on Phase 1 geochemistry (Cu ppm), Jackie property. Inset map with cluster of anomalous Cu analyses with distinct northwesterly trend parallel to several local and regional lineaments.

Planning for the Phase 3 exploration program is underway with a view to additional ground work in Q4 2021, including preparation of the environmental report required for a drilling permit and targeting for Q1 2022 reverse circulation drilling. Interpretation of the geological, geochemical, hyperspectral, and property-wide ASTER, LANDSAT 8 and LiDAR imagery is ongoing.

The additional geochemistry and geological maps and images from the field program will be provided on the Silver Spruce website (www.silverspruceresources.com) in due course.

Project Background

The Company recently signed a Definitive Agreement (Press release November 30, 2020) with Colibri Resource Corp. to acquire 50% interest in Jackie, an early-stage precious metal project located 175 km east of Hermosillo, Sonora, Mexico. The large grassroots property is located in a very productive region only one to two kilometres south from our El Mezquite and Diamante properties and adjacent to the west of Minera Alamos' Santana project, and approximately six kilometres northwest of their Nicho deposit currently under development.

The Jackie Project is located within the western portion of the Sierra Madre Occidental Volcanic Complex within the prominent northwest-trending "Sonora Gold Belt" of northern Mexico and parallel to the precious metals-rich Mojave-Sonora Megashear.

Other nearby large operating mines include Alamos Gold's Los Mulatos gold mine and Agnico Eagle's La India gold mine located 50-60 km to the northeast, Agnico Eagle's Pinos Altos Mine, 95 km southeast and Argonaut's La Colorada Mine, 100 km to the west. Exploration is very active with adjacent and nearby properties reported to be held by Minera Alamos, Newmont, Garibaldi, Evrim, Kootenay Silver and Peñoles.

The 1,130-hectare Property is easily accessible from Hermosillo to the Tepoca area and heading south from Mexican Highway #16 or west from Highway #117, or from Ciudad Obregón travelling northeast on Hwy. #117 and west to the pueblo of La Quema with vehicles and then pack teams along dry river beds, dirt roads and trails. High voltage power lines are located on Highway #16.

Geochemical Analysis, Quality Assurance and Quality Control

Rock samples were delivered to the ALS sample preparation facility in Hermosillo, Sonora, Mexico. ALS Global in North Vancouver, British Columbia, Canada, is a facility certified as ISO 9001:2008 and accredited to ISO/IEC 17025:2005 from the Standards Council of Canada.

Pulps (50gram split) were submitted for Au analysis by Fire Assay with Atomic Absorption finish (Au-AA24) and Four Acid Digestion with Inductively Coupled Plasma Atomic Emission Spectrometry (ICP-AES) multi-element analyses (ME-ICP61m).

Splits of crushed rejects were sent to ALS in Reno, NV for hyperspectral analysis (HYP-PKG) using the Terraspec 4 and aiSIRIS identification of the principal silicate, sulphate, carbonate and hydrous oxide species, namely the alteration minerals and their relative intensity.

In-house quality control samples (blanks, standards, duplicates, preparation duplicates) were inserted into the sample set. ALS Global conducts its own internal QA/QC program of blanks, standards and duplicates, and the results were provided with the Company sample certificates. The results of the ALS control samples were reviewed by the Company's QP and evaluated for acceptable tolerances. All sample and pulp rejects are stored at ALS Global pending full review of the analytical data, and future selection of pulps for independent third-party check analyses, as requisite.

All of the metal values disclosed herein by Silver Spruce are reported from grab and channel samples which may not be representative of the metal grades. There is no record of historical sampling from previous exploration efforts on the Property.

Qualified Person

Greg Davison, PGeo, Silver Spruce VP Exploration and Director, is the Company's internal Qualified Person for the Jackie Project and is responsible for approval of the technical content of this press release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), under TSX guidelines.

About Silver Spruce Resources Inc.

Contact:

Silver Spruce Resources Inc.
Greg Davison, PGeo, Vice-President Exploration and Director
(250) 521-0444
gdavison@silverspruceresources.com

Michael Kinley, CEO
(902) 826-1579
mkinley@silverspruceresources.com
info@silverspruceresources.com
www.silverspruceresources.com

Notice Regarding Forward-Looking Statements

SOURCE: Silver Spruce Resources Inc.

View source version on accesswire.com:
https://www.accesswire.com/661500/Silver-Spruce-Phase-2-Exploration-Extends-Gold-Silver-Target-on-its-High-Grade-Discovery-Jackie-Au-Ag-Property-Sonora-Mexico

TORONTO, Aug. 26, 2021 (GLOBE NEWSWIRE) — Eloro Resources Ltd. (TSX-V: ELO; OTCQX: ELRRF FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce that in connection with required permitting for continued exploration at La Victoria, it’s 82%-owned Peruvian subsidiary, Compañia Minera Eloro Peru S.A.C. (“Eloro Peru”), entered into a surface rights agreement (the “Agreement”) with the Pallasca Community in the Pallasca Province, Ancash Department, Peru. The Agreement allows exploration activities, including drilling, to proceed at the San Markito epithermal silver drill target.

The San Markito target is located within the Victoria-APB Concession in the Pallasca District and Province, 430 km NNE of Lima, Peru. Surface mapping and sampling to date has confirmed high silver grades within a silicified breccia structure located at an altitude of 4050m above sea level. Significant silver values from San Markito include 994 g/t Ag with 0.35 g/t Au in a continuous diamond saw channel sample over 4.00m and 390 g/t Ag with 0.53 g/t Au over 1.53m (see December 14, 2016 Eloro Press Release). Induced polarization survey results indicate a steeply dipping low resistivity and higher chargeability anomaly at depth, spatially correlated with the surface mineralization. A 3000m drill program to test the continuity of the breccia mineralization along strike and down-dip is planned.

Since 2016, Eloro Peru has been actively engaged with local stakeholders from the Pallasca community and nearby hamlets in order to provide the necessary information to all concerned members. On July 24 2021, an extraordinary community assembly took place, where a majority of community members voted in favour of Eloro Peru’s land use proposal. Apart from the land rental payment, Eloro has also agreed to help the community avail itself to government infrastructure funds to enhance the community’s agricultural practices and access to water.

With the Agreement in place, Eloro Peru can now proceed with the drill permitting process with the Peruvian Ministry of Energy and Mines and the Water Authority. Geades Consulting S.A.C has been retained for this purpose.

Geological operations will recommence in September, 2021, under the supervision of Chief Geologist (Peru), Marcelo Alvarez, who led Eloro Peru’s 2017-2018 exploration activities. Mr. Alvarez brings 30 years of exploration experience in South American epithermal, mesothermal and porphyry deposit types. He also has extensive knowledge in the modeling and evaluation of mineral resources.

Eloro’s La Victoria joint venture partner, Burgundy Diamond Mines Limited, holds an 18% interest in Eloro Peru and pursuant to an option agreement, can increase their interest from 18% to 25% by expending a further $1,400,000, subject to the receipt of all required permitting.

Qualified Person

Luc Pigeon, B.Sc., M.Sc., P. Geo., General Manager of Compañia Minera Eloro Peru S.A.C. and a Qualified Person in the context of National Instrument 43-101 (“NI 43-101”), has reviewed and approved the technical content of this news release.

About Eloro Resources Ltd.

Eloro is an exploration and mine development company with a portfolio of gold and base-metal properties in Bolivia, Peru and Quebec. Eloro has an option to acquire a 99% interest in the highly prospective Iska Iska Property, which can be classified as a polymetallic epithermal-porphyry complex, a significant mineral deposit type in the Potosi Department, in southern Bolivia. Eloro commissioned a NI 43-101 Technical Report on Iska Iska, which was completed by Micon International Limited and is available on Eloro’s website and under its filings on SEDAR. Iska Iska is a road-accessible, royalty-free property. Eloro also owns an 82% interest in the La Victoria Gold/Silver Project, located in the North-Central Mineral Belt of Peru some 50 km south of Barrick’s Lagunas Norte Gold Mine and Pan American Silver’s La Arena Gold Mine. La Victoria consists of eight mining concessions and eight mining claims encompassing approximately 89 square kilometres. La Victoria has good infrastructure with access to road, water and electricity and is located at an altitude that ranges from 3,150 m to 4,400 m above sea level.

For further information please contact either Thomas G. Larsen, Chairman and CEO or Jorge Estepa, Vice-President at (416) 868-9168.

Information in this news release may contain forward-looking information. Statements containing forward looking information express, as at the date of this news release, the Company’s plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Company. There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.

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

After taking a beating over the past few weeks, oil prices have been surging on rising demand optimism, a major production outage in Mexico, and the first full U.S. regulatory approval of a COVID-19 vaccine.

October crude and Brent were up 3% to $67.47/bbl and $70.83/bbl, respectively, a day after a 5% surge by both benchmarks snapped a seven-day losing streak after China claimed to have brought its coronavirus cases down to zero and opened up the Ningbo port, one of the busiest in the world, after a two-week shutdown.

About two weeks ago, China—once the epicenter of the virus—took an uncompromising approach by imposing widespread travel restrictions and new lockdowns. Authorities in Beijing curtailed public transport and taxi services in 144 of the worst-hit areas nationwide, including train service and subway usage in Beijing.

That seemed like overkill, with less than 1,000 cases of the delta virus reported nationwide and a good 61% of the population already fully vaccinated. However, Beijing opted to employ its tried-and-tested method of targeted lockdown that has been successful in stopping no less than 30 Covid-19 flare-ups in the past. The capital city of Beijing implemented a two-week quarantine for visitors from high-risk areas, halted the use of community spaces for entertainment, and also limited the number of visitors allowed at parks and scenic areas.

Chinese authorities also urged people to cancel vacations and business trips, especially those from high-risk areas, and also advised college students to delay their return to school for the new semester.

Well, it appears that Beijing has come out on top, once again.

"The developments out of China are reigniting expectations that oil demand would start to rise again," said Phil Flynn, senior market analyst at Price Futures Group Inc. has told Bloomberg.

Meanwhile, a major fire on a Mexican oil platform has wiped out more than 400,000 barrels a day of the nation's output, a development that has calmed nerves with OPEC+ expected to add a similar amount to the market beginning September.

Bullish for commodities

The latest oil price rally also comes with further signals that demand is strengthening.

Over the past two days, the difference between the nearest two December Brent futures contracts jumped by $1 a barrel, while the global benchmark increased its premium to WTI to the widest since April.

Meanwhile, the American Petroleum Institute (API) has reported a 1.622 million decline in U.S. crude stockpiles, accompanied by a nearly 1 million drop in gasoline stocks. API has also reported a 245,000 barrel dip in distillate stocks last week, which unfortunately marks the smallest drop since January.

The turnaround in demand sentiment has also helped boost other commodities, with iron ore prices jumping 10%.

Shares of iron miners Vale (NYSE:VALE), Rio Tinto (NYSE:RIO), and BHP (NYSE:BHP) are all trading higher as iron ore prices bounce off a spectacular collapse that saw prices crash ~25% over the past 30 days.

Iron ore futures in Singapore have rebounded as much as 10% to $149.65/metric, thanks in large part to the improved sentiment across all asset classes stemming from China's improved situation as well as a potential boost to the U.S. vaccination drive.

China's central bank has said it will try and stabilize the supply of credit and increase the amount of money supporting smaller businesses. There are expectations for further stimulus targeting the infrastructure sector, manufacturing, and real estate after the July slowdown left the economic situation looking bleak.

All eyes will now turn to the Jackson Hole symposium—being held virtually from Thursday—which is expected to offer important insights into how the Federal Reserve plans to scale back stimulus.

The dollar has lately hit a nine-month high, weighing heavily on dollar-priced commodities, including oil, due to a surge in safe-haven demand. The dollar's multi-faceted strengths have been on display once again following the release of weak U.S. retail sales data that underwhelmed against consensus estimates; Yet, the greenback has been gaining ground against its international peers due to expectations of the Fed to begin its taper program in September.

However, Jeff Gundlach (aka the bond king) says not to worry too much about the taper because the Fed intends to keep rates near zero for years to come.

By Alex Kimani for Oilprice.com

More Top Reads From Oilprice.com:

Read this article on OilPrice.com

Kirkland Lake, Ontario–(Newsfile Corp. – August 25, 2021) – RJK Explorations Ltd. (TSXV: RJX.A) (OTC Pink: RJKAF) Dr. Charles Fipke's lab, CF Mineral Research (CFM) in Kelowna, British Columbia, is analysing 12.2 tons of kimberlite of diamond drill core, surface excavation samples and reverse circulation drilling that Microlithics in Thunder Bay Ontario and CFM of Kelowna BC processed over the past 9 months, from 7 different kimberlites discovered.

Kimberlite indicator minerals (KIMs) were concentrated and tested, returning materially important results. KIM grain determinations were identified that commonly derive from kimberlite sources originating in the "diamond stability field." The diamond stability field is located from depths of about 200 km in the earth at the lower boundary of the continental lithosphere with the convecting mantle. The heavy mineral concentrates were probed and classified into 6 diamond indicator minerals: chromite, high manganese ilmenite, peridotitic pyroxene, clinopyroxene, eclogitic garnet and peridotitic garnet. Of the grains mounted for electron-microprobe analysis: diamond inclusion olivine forsterites, G10-2 peridotitic garnets, diamond inclusion G11 garnets, diamond inclusion clinopyroxenes, and diamond inclusion chromites, all formed in the diamond stability field were found. Further analysis was requested by Dr. Fipke of the picro-ilmenite chemistry to determine the degree of oxidation in the kimberlite magma to determine resorption of microdiamonds. CFM is also performing additional picking of the kimberlite indicator minerals from our largest kimberlite, HSM, requested by Dr. Fipke and once the picking and probing is done, RJK will receive the final report from CFM.

Dr. Fipke has requested more material from the Nicol Kimberlite discovery, specifically due to the unique diamond inclusion forsterites recovered so far, which have similar whole rock chemistry to forsterites from other diamond deposits analysed by CFM. The RC sample RJK recovered from Nicol Lake was only 56 kg. This particular kimberlite is of historical note, as Bernard Baruch's brothers, one of whom was also his business partner, and also his best friend, Richard P. Lydon, staked claims on either side of the lake, in February, 1907, shortly after it was reported that Tiffany and Co were sending a geological team to search for diamonds west of Lake Temiskaming.

RJK's Project Manager, Peter Hubacheck stated, "Based on initial discussions with Dr. Fipke regarding the chemical analysis of RJK's Lorrain Township kimberlite discoveries, it is possible that large diamonds, such as the Nipissing Diamond, could have originated from these kimberlites. The similar textures observed in drill core and consistent kimberlite emplacement geometry above the bedrock, but below the shallow overburden, suggests one eruptive event. However, the indicator mineral analyses discovered are not homogenous comparing the seven kimberlites, suggesting each kimberlite is different geochemically from one and other. We intend to update shareholders on our next steps after the complete report is delivered, and the indicator mineral charts have been created. Dr. Jim Renaud has been contracted to plot the indicator mineral analysis for all seven kimberlites, using the new data. Our intention is to determine the locations with the highest probability for finding large diamonds, and take statistically significant-sized samples to determine the diamond potential of our discoveries within the "Historic Cobalt Mining Camp."

Considering the scale, and number of discoveries that have been made, RJK is finalizing a new, detailed, interactive property map, compiled by Insidexploration to be published for shareholders in the near future.

Mr. Peter Hubacheck, P.Geo., Project Manager for RJK and the Qualified Person as defined by National Instrument 43-101 has approved the technical disclosure in this release.

Contact Information
Glenn Kasner, President
Mobile: (705) 568-7567
info@rjkexplorations.com

Web Site: https://www.rjkexplorations.com/
Company Information: Tel: (705) 568-7445

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.

Forward-Looking Information

This news release includes certain forward-looking statements, which may include, but are not limited to, statements concerning future mineral exploration and property option payments. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "will", "anticipate", "believe", "plan", "estimate", "expect", "intend", "propose" and similar expressions. Forward-looking statements involve known and unknown risks and uncertainties that could cause actual results, performance, or achievements to differ materially from those expressed or implied in this news release. Factors that could cause actual results to differ materially from those anticipated in this news release include, but are not limited to, the financial resources of the Corporation being inadequate to carry out its stated plans. RJK assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements except as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/94362

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