Rare Earth Archives - Page 25 of 41

Edmonton, Alberta–(Newsfile Corp. – May 17, 2021) – Grizzly Discoveries Inc. (TSXV: GZD) (OTCQB: GZDIF) (FSE: G6H) ("Grizzly" or the "Company") is pleased to announce 18 high-priority conductivity anomalies have been identified at its Robocop Property following analysis of the recent 400 line-km Versatile Time Domain Electromagnetic ("VTEM™") and magnetic survey data. Grizzly is planning additional field work over the high-priority anomalies during its 2021 exploration program. The Robocop Property is 100% owned by Grizzly and is easily road accessible in Southeast British Columbia (the "Property"), near the hamlets of Grasmere and Roosville.

Brian Testo, CEO of Grizzly commented, "Grizzly has significant potential for new copper-cobalt discoveries during a time when demand for battery metals is surging due to the shift to renewable energy sources and electric vehicles. We are looking forward to commencing an initial Phase 1 program over the next couple months to isolate drill targets in preparation for a Phase 2 – 2021 drill testing. The Robocop geology and anomalies have potential for world-class discoveries."

The Company has engaged consulting geophysicist Mr. Martin St. Pierre, P. Geophysicist, of St. Pierre Geoconsultant Inc. to review and interpret final data provided by Geotech Ltd. From the VTEM™ and magnetic survey. Mr. St. Pierre has provided a preliminary list of 80 conductivity (EM) anomalies, with 18 of the anomalies considered priority anomalies to follow-up with additional investigation during 2021 (Stars on Figure 1 below). Based upon several anomalies near the edges of its Property the Company has staked an additional 1,609 hectares (3,976 acres) surrounding its existing Robocop claims. The additional acreage is shown in Figure 1 below and brings the total property land holdings to 3,981 hectares (9,868 acres).

Fig 1. New mineral claims (in white outlines) on a map of calculated time constant TAU values for conductance for S Field (dB/dt) with Cu in rocks & soils.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4488/84276_f30d6fd8a4054864_002full.jpg

The VTEM™ survey was flown at 100 metre line spacing and, provides the first property-wide, high resolution geophysical images of the Property. Geotech Ltd. has provided initial finalized data and it confirms the presence of a number of EM (conductance) and magnetic anomalies that will require follow-up review and modelling leading to ground-based exploration, including drill testing during fall 2021. Mr. St. Pierre has been engaged to review the data, model conductive bodies, and recommend the next steps for exploration including ground geophysical surveys and potential drill targets for land use permitting. A number of high priority targets have been identified with some in close proximity to known copper (Cu)-cobalt (Co)-silver (Ag) geochemical anomalies identified in historical rocks grab samples and soils. Figure 2 below provides an example of one such target (Anomaly 13-3) and it shows the presence of a buried series of EM anomalies along a ridge with a significant down-slope Cu-Co-Ag anomaly on the south face of the ridge.

Fig 2. EM anomalies (including high priority anomaly 13-3 as a black star) on a map of conductance for S Field (dB/dt) with Cu in rocks & soils.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/4488/84276_f30d6fd8a4054864_003full.jpg

Figure 3 below shows a conductivity time channel profile of EM anomaly 13-3 and its relationship to the local total field magnetics. The anomaly shows up well in the mid to later time channels, suggesting it is buried. However, it is a potential target for the source of the anomalous Cu-Co-Ag mineralization that has been obtained from soil and rubble on the south slope of the ridge. The anomaly warrants follow-up exploration including ground geophysics and drill testing. The VTEM™ survey is the first of a number of modern exploration techniques that will be employed in 2021 to explore and develop the Robocop Co-Cu-Ag Project. The VTEM™ dataset will help to better define the geological model of the Property and to target conductive portions of the assemblage, potentially those portions associated with both stratigraphic and vertical structural anomalies, and in particular those that might be associated with sulphide minerals and Co-Cu-Ag mineralization, in advance of a planned 2021 drilling campaign. The survey has identified a number of intermediate to deep (200 m to 300 m depth) EM anomalies that may be indicative of the presence of sulphide and/or alteration such argillic-sericitic alteration types. Mineral claims 1081005, 1082100, 1082434 and 108 2523 were staked to protect the possible extension of a number of visible conductive anomalies identified by the VTEM survey (Figure 1).

Fig 3. EM anomaly 13-3 in profile showing SFz (dB/dt) conductivity in the mid to late time channels(as well as a positive B Field) shown on a map of the total field magnetics.

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/4488/84276_f30d6fd8a4054864_004full.jpg

The TAU S Field (dB/dt) EM anomalies are targets for further exploration and are currently being modelled and interpreted for specific targets for follow-up work. The anomalies visible on Figure 1 warrant follow-up exploration including prospecting, soil sampling and ground geophysical surveys including one or more of Induced Polarization (IP) and/or Time Domain EM (TDEM) techniques. Further integration of the geophysical interpretation with the geological model is ongoing and is required prior to commencing additional ground work. The additional work will include plate and/or inversion modelling along with an integrated structural and 3D model of the combined EM and magnetic data. The results of this work will be released as they become available.

The property is hosted within a similar geological setting to the Idaho Cobalt-Copper belt where conductivity (EM) and magnetic surveying techniques have been used previously to successfully guide drilling of prospective targets and assist in making new metal discoveries.

HIGHLIGHTS FOR THE ROBOCOP PROPERTY

The Robocop Project is comprised of 9,053acres (3,663 ha) in five mineral claims that are all road accessible, just off Provincial Highway 93 in southeast B.C.
Initial surface trenching in the late 1980's to early 1990's yielded up to 0.06% Co and 1.93% Cu over 6 metres (m) in one trench, and in a separate trench up to 0.146% Co, 1.8% Cu and 5.3 grams per tonne (g/t) Ag over 5 m in sediment-hosted sulphide mineralization within middle Proterozoic Purcell Group rocks (Thomson, 1990).
A total of 15 drill holes in the area between 1990 and 2008 have yielded several intersections of near surface Co-Cu-Ag mineralization with grades of up to 0.134% Co, 1.19% Cu and 33.8 g/t Ag over 1.23 m core length in hole R-1990-5 and 0.14% Co, 0.9% Cu and 2.7 g/t Ag over 3.1 m core length in hole R-1990-6 (Thomson, 1990), along with an intersection of 0.18% Co, 0.28% Cu and 4.1 g/t Ag over 1 m core length in hole R-2008-02 (Pighin, 2009).

All but one of the historical drillholes tested a single target in an area about 500 m by 350 m. The Property is approximately 10 km in length and 3.5 km in width and contains at least four untested anomalous soil +/- rock geochemical targets.
Sediment hosted Co-Cu-Ag mineralization is similar in style, age and host rocks to mineralization at Jervois Mining Ltd.'s Idaho Cobalt project and Hecla's Revett Formation hosted mineralization near Troy, Montana.

The Property has yielded significant historical cobalt, copper and silver results and presents an opportunity to discover battery and electrification metals as the world shifts to electric vehicles, sustainable practices and greener alternatives. The macroeconomic outlook for battery metals such as Co and Cu remains strong with the ongoing shift to electric vehicles. It is estimated that the battery sector accounts for approximately 57% of current Co demand; this is expected to grow over the next five years to 72% and will require an additional 100,000 tonnes/annum of Cobalt to meet expected demand.^[1]

In support of exploration efforts on the Robocop property, Grizzly Discoveries Inc. is announcing a private placement of and up to 2,500,000 Units (as defined below) at a price of $0.06 per Unit up to 5,000,000 FT Units (as defined below) at a price of $0.06 per FT Unit, for aggregate gross proceeds of up to $450,000. Each Unit consists of one common share of the Company ("Common Share") and one Warrant, and each FT Unit will consist of one common share of Grizzly ("Common Share"), issued as a flow-through share for the purposes of the Income Tax Act (Canada), and one half of one non transferrable warrant ("Warrant").

Each whole Warrant shall entitle the holder to acquire one additional non-flow-through common share at an exercise price of $0.085 per Common Share until the earlier of: (a) 30 days following the issuance of a news release by the Company that the trading price of the Common Shares on the TSX Venture Exchange is at or greater than $0.10 per Common Share for 10 (ten) consecutive trading days; and (b) 24 months from the date of issuance.

The Private Placement is being offered to qualified subscribers in the Provinces of Alberta, British Columbia, Ontario and in other such jurisdictions in reliance upon exemptions for the registration and prospectus requirements of applicable legislation.

The net proceeds from the sale of the Units will be used for general corporate working capital, and the proceeds from the FT Units will be used to incur Canadian exploration expenses as defined in the Income Tax Act (Canada). All Common Shares issued under the Private Placement and any Common Shares issuable upon exercise of Warrants will be subject to a four month hold period from the date of closing of the Private Placement in accordance with applicable laws and regulations. The Private Placement is subject to acceptance of the TSX Venture Exchange.

The Private Placement securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act"), or under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation to buy such securities in the United States.

The technical content of this news release and the Company's technical disclosure has been reviewed and approved by Michael B. Dufresne, M. Sc., P. Geol., P.Geo., who is the Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

ABOUT GRIZZLY DISCOVERIES INC.

Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange, with 90 million shares issued, focused on developing its over 160,000 acres of precious and base metals properties in southeastern British Columbia. Grizzly is run by a highly experienced junior resource sector management team, who have a track record of advancing exploration projects from early exploration stage through to feasibility stage.

On behalf of the Board,

GRIZZLY DISCOVERIES INC.
Brian Testo, CEO, President
Tel: 780 693 2242

For further information, please visit our website at www.grizzlydiscoveries.com or contact:

Chris Beltgens
Corporate Development
Tel: 604 282 6372
Email: cbeltgens@grizzlydiscoveries.com

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

Caution concerning forward-looking information

This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as "may," "will," "should," "anticipate," "plan," "expect," "believe," "estimate," "intend" and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Grizzly in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Grizzly's actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.

Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Grizzly disclaims any obligation to update or revise any forward-looking information or statements except as may be required by law.

^[1] Cobalt's Price Rises Highlight Shift to Battery-Driven Pricing Dynamics, Benchmark Mineral Intelligence, November 19^th, 2021

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/84276

A look at the shareholders of Compass Minerals International, Inc. (NYSE:CMP) can tell us which group is most powerful. Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. We also tend to see lower insider ownership in companies that were previously publicly owned.

Compass Minerals International has a market capitalization of US$2.4b, so we would expect some institutional investors to have noticed the stock. Our analysis of the ownership of the company, below, shows that institutions own shares in the company. Let's delve deeper into each type of owner, to discover more about Compass Minerals International.

View our latest analysis for Compass Minerals International

What Does The Institutional Ownership Tell Us About Compass Minerals International?

Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing.

Compass Minerals International already has institutions on the share registry. Indeed, they own a respectable stake in the company. 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. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of Compass Minerals International, (below). Of course, keep in mind that there are other factors to consider, too.

Institutional investors own over 50% of the company, so together than can probably strongly influence board decisions. Hedge funds don't have many shares in Compass Minerals International. Our data shows that BlackRock, Inc. is the largest shareholder with 12% of shares outstanding. The Vanguard Group, Inc. is the second largest shareholder owning 9.8% of common stock, and Van Eck Associates Corporation holds about 6.0% of the company stock.

A closer look at our ownership figures suggests that the top 11 shareholders have a combined ownership of 50% implying that no single shareholder has a majority.

While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. There are plenty of analysts covering the stock, so it might be worth seeing what they are forecasting, too.

Insider Ownership Of Compass Minerals International

The definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves.

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

Our most recent data indicates that insiders own less than 1% of Compass Minerals International, Inc.. It is a pretty big company, so it would be possible for board members to own a meaningful interest in the company, without owning much of a proportional interest. In this case, they own around US$8.5m worth of shares (at current prices). It is good to see board members owning shares, but it might be worth checking if those insiders have been buying.

General Public Ownership

With a 10% ownership, the general public have some degree of sway over Compass Minerals International. This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders.

Next Steps:

It's always worth thinking about the different groups who own shares in a company. But to understand Compass Minerals International better, we need to consider many other factors. To that end, you should learn about the 3 warning signs we've spotted with Compass Minerals International (including 1 which is significant) .

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.

This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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

Vancouver, British Columbia–(Newsfile Corp. – May 17, 2021) – Playfair Mining (TSXV: PLY) is pleased to announce that it has closed the non-brokered private placement announced on April 29, 2021, which was over-subscribed by 906,670 shares. The Company has issued 10,906,670 common shares at $0.15 per share for gross proceeds of $1,636,000. Finder's fees of $3,447.50 cash were paid in connection with this placement. All securities issued are subject to a hold period expiring four months and one day from the date of issuance. The proceeds will be used for exploration on the RKV project in South Central Norway and for general working capital purposes.

The Company has also concluded a shares for services agreement with Mr. Reidar Gaupas, a resident of Norway. Mr. Gaupas has been assisting the Company locally since September, 2020 and has been instrumental in advancing the RKV drill program. The Company has agreed to issue 150,000 common shares at a deemed price of $0.13 per share to Mr. Gaupas in consideration of the services rendered. The securities will be subject to the regulatory hold period.

For further information visit our website at www.playfairmining.com or contact:

Donald G. Moore
CEO and Director
Phone: 604-377-9220
Email: dmoore@wascomgt.com

D. Neil Briggs
Director
Phone: 604-562-2578
Email: nbriggs@wascomgt.com

Forward-Looking Statements: This Playfair Mining Ltd. News Release may contain certain "forward-looking" statements and information relating to Playfair which are based on the beliefs of Playfair management, as well as assumptions made by and information currently available to Playfair management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, exploration and development risks, expenditure and financing requirements, title matters, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/84233

To find a multi-bagger stock, what are the underlying trends we should look for in a business? Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing amount of capital employed. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. So when we looked at Baxter International (NYSE:BAX) and its trend of ROCE, we really liked what we saw.

Understanding Return On Capital Employed (ROCE)

Just to clarify if you're unsure, ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business. Analysts use this formula to calculate it for Baxter International:

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

0.11 = US$1.8b ÷ (US$19b – US$3.2b) (Based on the trailing twelve months to March 2021).

Therefore, Baxter International has an ROCE of 11%. On its own, that's a standard return, however it's much better than the 8.4% generated by the Medical Equipment industry.

See our latest analysis for Baxter International

Above you can see how the current ROCE for Baxter International compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like to see what analysts are forecasting going forward, you should check out our free report for Baxter International.

What Does the ROCE Trend For Baxter International Tell Us?

We like the trends that we're seeing from Baxter International. The data shows that returns on capital have increased substantially over the last five years to 11%. The company is effectively making more money per dollar of capital used, and it's worth noting that the amount of capital has increased too, by 20%. So we're very much inspired by what we're seeing at Baxter International thanks to its ability to profitably reinvest capital.

The Key Takeaway

To sum it up, Baxter International has proven it can reinvest in the business and generate higher returns on that capital employed, which is terrific. Since the stock has returned a staggering 106% to shareholders over the last five years, it looks like investors are recognizing these changes. With that being said, we still think the promising fundamentals mean the company deserves some further due diligence.

One more thing to note, we've identified 3 warning signs with Baxter International and understanding these should be part of your investment process.

For those who like to invest in solid companies, check out this free list of companies with solid balance sheets and high returns on equity.

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

EL DORADO, Ark., May 17, 2021 (GLOBE NEWSWIRE) — Standard Lithium Ltd. (“Standard Lithium” or the “Company”) (TSXV: SLL) (OTCQX: STLHF) (FRA: S5L), an innovative technology and lithium project development company has commenced work on a Preliminary Economic Assessment (“PEA”) on its TETRA Property located in the south-western region of Arkansas.

The PEA will consider an integrated project including; brine supply and injection wells, pipelines and brine treatment infrastructure, a Direct Lithium Extraction plant using the Company’s proprietary LiSTR technology, and a lithium chloride to lithium hydroxide conversion plant.

Standard Lithium has engaged NORAM Engineering and Constructors Ltd. (“NORAM”) as the lead consultant, to prepare and coordinate the PEA with support of a multi-disciplinary team. NORAM will be supported by Hunt, Guillot & Associates from Ruston, Louisiana in key areas such as brine supply, injection well and pipeline design and construction costs.

In January 28, 2019, an NI 43-101 Inferred Resource of 802,000 tonnes Lithium Carbonate Equivalent (“LCE”) was reported for the TETRA Property which is contained within the Smackover Formation, a Jurassic limestone aquifer that underlies the entire property. This brine resource is in an area where there is localized oil and gas production and is adjacent to Albemarle Corporation’s producing brine leases.

The Company expects to complete the Preliminary Economic Assessment in early Q3 2021.

Tetra Property Highlights:

27,262 net acres of brine leases
Average lithium grades for the North and South Resource Areas were 160 mg/L and 399 mg/L, respectively. Brine samples collected in 2018 contained lithium between 347 and 461 mg/L
Significant existing infrastructure, road, power, pipelines, water and rail
Well characterized geology with extensive data including 2,444 wells drilled into the subsurface in the general TETRA Property area. Of these, 2,041 wells were deep enough (2,135 m, or 7,000 feet) to penetrate the Smackover Formation.

Dr. Andy Robinson, Standard Lithium President and COO, commented, “We continue to evaluate and accelerate our lithium brine project development activities in Southern Arkansas. The TETRA project is a very high quality resource with excellent lithium grades, reservoir characteristics and existing infrastructure. We have an experienced integrated technical team in place, led by NORAM, that will deliver a PEA that demonstrates the immense value it contains. This work will continue Standard Lithium’s mission of combining technological improvements with the highest quality lithium brine assets to deliver the next generation of sustainable lithium products in North America.”

Quality Assurance
Steve Ross, P.Geol., a Qualified Person as defined by NI 43-101, has reviewed and approved the relevant technical information that forms the basis for this news release. Mr. Ross is a consultant to the Company.

About Standard Lithium Ltd.

Standard Lithium is an innovative technology and lithium development company. The company's flagship project is located in southern Arkansas, where it is engaged in the testing and proving of the commercial viability of lithium extraction from over 150,000 acres of permitted brine operations. The company has commissioned its first-of-a-kind industrial-scale direct lithium extraction demonstration plant at Lanxess's south plant facility in southern Arkansas. The demonstration plant utilizes the company's proprietary LiSTR technology to selectively extract lithium from Lanxess's tail brine. The demonstration plant is being used for proof-of-concept and commercial feasibility studies. The scalable, environmentally friendly process eliminates the use of evaporation ponds, reduces processing time from months to hours and greatly increases the effective recovery of lithium. The company is also pursuing the resource development of over 30,000 acres of separate brine leases located in southwestern Arkansas and approximately 45,000 acres of mineral leases located in the Mojave Desert in San Bernardino county, California.

Standard Lithium is listed on the TSX Venture Exchange under the trading symbol “SLL”; quoted on the OTC – Nasdaq Intl Designation under the symbol “STLHF”; and on the Frankfurt Stock Exchange under the symbol “S5L”. Please visit the Company’s website at www.standardlithium.com.

On behalf of the Board of Standard Lithium Ltd.

Robert Mintak, CEO & Director

For further information, contact Anthony Alvaro at (604) 240 4793

Twitter @standardlithium

Linkedin https://www.linkedin.com/company/standard-lithium/

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, fluctuations in the market for lithium and its derivatives, changes in exploration costs and government regulation in Canada and the United States, and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.

It is hard to get excited after looking at Fresnillo's (LON:FRES) recent performance, when its stock has declined 12% over the past three months. It seems that the market might have completely ignored the positive aspects of the company's fundamentals and decided to weigh-in more on the negative aspects. Stock prices are usually driven by a company’s financial performance over the long term, and therefore we decided to pay more attention to the company's financial performance. Specifically, we decided to study Fresnillo's ROE in this article.

Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors’ money. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.

See our latest analysis for Fresnillo

How Do You Calculate Return On Equity?

Return on equity can be calculated by using the formula:

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

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

10% = US$376m ÷ US$3.6b (Based on the trailing twelve months to December 2020).

The 'return' is the yearly profit. That means that for every £1 worth of shareholders' equity, the company generated £0.10 in profit.

Why Is ROE Important For Earnings Growth?

So far, we've learned that ROE is a measure of a company's profitability. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. Assuming all else is equal, companies that have both a higher return on equity and higher profit retention are usually the ones that have a higher growth rate when compared to companies that don't have the same features.

Fresnillo's Earnings Growth And 10% ROE

To begin with, Fresnillo seems to have a respectable ROE. Yet, the fact that the company's ROE is lower than the industry average of 17% does temper our expectations. Moreover, Fresnillo's net income shrunk at a rate of 2.4%over the past five years. Not to forget, the company does have a high ROE to begin with, just that it is lower than the industry average. So there might be other reasons for the earnings to shrink. These include low earnings retention or poor allocation of capital.

That being said, we compared Fresnillo's performance with the industry and were concerned when we found that while the company has shrunk its earnings, the industry has grown its earnings at a rate of 26% in the same period.

Earnings growth is an important metric to consider when valuing a stock. It’s important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). Doing so will help them establish if the stock's future looks promising or ominous. If you're wondering about Fresnillo's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.

Is Fresnillo Using Its Retained Earnings Effectively?

Fresnillo's declining earnings is not surprising given how the company is spending most of its profits in paying dividends, judging by its three-year median payout ratio of 57% (or a retention ratio of 43%). The business is only left with a small pool of capital to reinvest – A vicious cycle that doesn't benefit the company in the long-run.

In addition, Fresnillo has been paying dividends over a period of at least ten years suggesting that keeping up dividend payments is way more important to the management even if it comes at the cost of business growth. Upon studying the latest analysts' consensus data, we found that the company's future payout ratio is expected to drop to 43% over the next three years. Despite the lower expected payout ratio, the company's ROE is not expected to change by much.

Summary

In total, we're a bit ambivalent about Fresnillo's performance. Primarily, we are disappointed to see a lack of growth in earnings even in spite of a moderate ROE. Bear in mind, the company reinvests a small portion of its profits, which explains the lack of growth. With that said, we studied the latest analyst forecasts and found that while the company has shrunk its earnings in the past, analysts expect its earnings to grow in the future. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.

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

$72.1 million in cash and short-term investments, pre-development activities commenced

VANCOUVER, British Columbia, May 17, 2021 (GLOBE NEWSWIRE) — Sabina Gold & Silver Corp. (“Sabina”) or (the “Company”) (SBB – TSX/ SGSVF – OTCQX) reports the interim financial results for the quarter ended March 31, 2021.

“Under a strict COVID-19 operational framework, Sabina opened Goose Camp in early March and commenced preparations for this year’s activities,” said Bruce McLeod, the Company’s President & CEO. “To date we have completed almost half of our planned phase I drill program. We have also commenced preparations to collar the underground exploration decline along with other site civil works. During the first quarter, we reported our much-awaited updated resource estimate as well as our updated feasibility study ('UFS'). The UFS showcases a gold project with a larger reserve (one million ounces added, for a total of 3.5 million ounces of proven and probable reserves), greater capital efficiency, a higher production profile and longer mine life. The Project has also received the required environmental authorizations and social license to commence construction and operations. The team continues to advance detailed engineering and the Project debt process.”

Q1 2021 Highlights:

The Company has cash and cash equivalents and short-term investments of $72.1 million at March 31, 2021.
On March 16, 2021, the Company completed a bought deal prospectus financing of 18,000,000 common shares at a price of $1.95 per common share for gross proceeds of $35.1 million. Pursuant to its Shareholder Agreement, Zhaojin International Mining Co., Ltd. elected to maintain its 9.9% holdings in Sabina and purchased by private placement, 2,117,640 Common Shares $1.95 per Common Share for gross proceeds of approximately $4.1 million. The net proceeds of the financings were approximately $37.1 million.
On January 20, 2021, the Company announced an updated mineral resource estimate for the Project. Resources now total 6.32 million ounces (33,452,000 tonnes at 5.88 g/t) in the Measured and Indicated (“M&I”) categories and an additional 2.86 million ounces (13,794,000 tonnes at 6.44 g/t) in the Inferred category.
On February 24, 2021, the Company announced the results of its UFS which included improvements to the mine schedule to bring forward high-grade areas at Umwelt underground amongst other changes. The revised mine plan increased total gold production by 1.0 million ounces, with annual average production of 287 koz in years 1 through 5 (with peak production of 303k oz in year 3) and 223 koz per year over the 15-year mine life. The UFS generates a post-tax internal rate of return of 27.7% and net present value_(5%) of C$1.1B (US$860M) with a rapid pay back of 2.3 years using a gold price of US$1,600/oz and an exchange rate of 1.31 $C/$US.
During the quarter, the Company prepared for 2021 site activities by opening its Goose camp in early March. There is a spring drill program planned for 4,000 meters over 8 to 10 holes, targeting an equal mix of early-stage exploration areas and the Hook zone. Additionally, project development activities at site will initially focus on the continuation of the underground ramp project, whereby Sabina is developing a ramp for underground exploration of the Umwelt deposit.
For the three months ended March 31, 2021, the Company reported a net loss of $1.4 million or $0.00 per share.

For the full March 31, 2021 interim financial statements and Management’s Discussion and Analysis, please see the Company website at www.sabinagoldsilver.com or on SEDAR.

Site Development Update:

During the first quarter, much has been advanced on the project, including the following:

Procurement of the initial surface mining fleet for the first year of pit development consisting of seven 64 tonne haul trucks with associated drilling, loading and support equipment. Procurement of phase I of the permanent accommodation complex (287 beds), building steel and cladding for the process plant, crusher building and truck shop, construction equipment necessary for concrete placement and building erection as well as equipment required for winter ice road construction. Sabina is also working with a logistics specialist (air and sealift) to finalize the execution strategy for mobilizing goods and equipment to site.
Site civil works continue including ground support of the box cut face which Sabina is developing for the underground exploration ramp and harvesting of esker material for concrete production and plant site preparation work.
The erection of a 60' x 100' underground shop has been completed and installation of site services for power and compressed air supply for underground activities is ongoing.
1,800 meters of a planned 4,000 meter exploration drilling program has been completed.
Necessary geotechnical drilling of proposed water containment areas is finished.

To facilitate this work, transportation of over one million litres of fuel and 1.5 million pounds of supplies and consumables for surface civil works has also been completed.

Engineering Update:

Detailed engineering is approximately 75% complete and is expected to be completed in late Q2 with issued for construction drawings and finalized vendor interfaces. Sabina has also entered into a contract with FLSmidth to complete the engineered design and fixed pricing for the plant, including commissioning, training and spare requirements. Sabina is also continuing to negotiate a performance guarantee on plant equipment.

The Company has also engaged an Arctic experienced constructor who has completed constructability reviews and is developing an execution plan focused on providing a fixed price bid on construction deliverables.

SABINA GOLD & SILVER CORP

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

Sabina recently filed an Updated Feasibility Study (the “UFS”) on its 100% owned Back River Gold Project which presents a project that will produce ~223,000 ounces of gold a year (first five years average of 287,000 ounces a year with peak production of 312,000 ounces in year three) for ~15 years with a rapid payback of 2.3 years, with a post-tax IRR of ~28% and NPV_5% of C$1.1B. See “National Instrument (NI) 43-101 Technical Report – 2021 Updated Feasibility Study for the Goose Project at the Back River Gold District, Nunavut, Canada” dated March 3, 2021.

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

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

All news releases and further information can be found on the Company’s website at www.sabinagoldsilver.com or on SEDAR at www.sedar.com. All technical reports have been filed on www.sedar.com

For further information please contact:

Nicole Hoeller, Vice-President, Communications: 1 888 648-4218
nhoeller@sabinagoldsilver.com

Forward Looking Information
This news release contains “forward-looking information” within the meaning of applicable securities laws (the “forward-looking statements”), including, but not limited to, statements related to the expected use of proceeds of the Offering and the projections and assumptions of the results of the UFS. These forward-looking statements are made as of the date of this news release. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated in or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur. While we have based these forward-looking statements on our expectations about future events as at the date that such statements were prepared, the statements are not a guarantee that such future events will occur and are subject to risks, uncertainties, assumptions and other factors which could cause events or outcomes to differ materially from those expressed or implied by such forward-looking statements. Such factors and assumptions include, among others, the uncertainty of production, development plans and costs estimates for the Back River Gold Project; discrepancies between actual and estimated mineral reserves and mineral resources, between actual and estimated development and operating costs; the interpretation of drill, metallurgical testing and other exploration results; the ability of the Company to retain its key management employees and skilled and experienced personnel; exploration, development and mining risks and the inherently dangerous nature of the mining industry, and the risk of inadequate insurance or inability to obtain insurance to cover these risks and other risks and uncertainties; property and mineral title risks including defective title to mineral claims or property; the effects of general economic conditions, commodity prices, changing foreign exchange rates and actions by government and regulatory authorities; and misjudgments in the course of preparing forward-looking statements. In addition, there are known and unknown risk factors which could cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Known risk factors include risks associated with exploration and project development; the need for additional financing; the calculation of mineral resources and reserves; operational risks associated with mining and mineral processing; fluctuations in metal prices; title matters; government regulation; obtaining and renewing necessary licenses and permits; environmental liability and insurance; reliance on key personnel; the potential for conflicts of interest among certain of our officers or directors; the absence of dividends; currency fluctuations; labour disputes; competition; dilution; the volatility of the our common share price and volume; future sales of shares by existing shareholders; and other risks and uncertainties, including those relating to the Back River Project and general risks associated with the mineral exploration and development industry described in our Annual Information Form, financial statements and MD&A for the fiscal period ended December 31, 2020 filed with the Canadian Securities Administrators and available at www.sedar.com. Although we have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. We are under no obligation to update or alter any forward-looking statements except as required under applicable securities laws.

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

VANCOUVER, British Columbia, May 17, 2021 (GLOBE NEWSWIRE) — MAG Silver Corp. (TSX / NYSE American: MAG) (“MAG” or the “Company”) announces the Company’s unaudited financial results for the three months ended March 31, 2021. For details of the unaudited condensed interim consolidated financial statements and Management's Discussion and Analysis for the three months ended March 31, 2021, please see the Company’s filings on SEDAR (www.sedar.com) or on EDGAR (www.sec.gov).

All amounts herein are reported in $000s of United States dollars (“US$”) unless otherwise specified.

HIGHLIGHTS – MARCH 31, 2021 AND EVENTS SUBSEQUENT TO THE QUARTER END

OPERATIONAL

Batch processing of mineralized material from development headings through the nearby Fresnillo plant continues at a targeted average nominal rate of 16,000 tonnes per month.
Since August 2020, 108,254 tonnes have been processed, expected to:
- contribute cash-flow to offset some of the initial project capital; and
- significantly speed up project ramp-up due to the de-risking of Juanicipio’s metallurgical performance.
As reported by the operator Fresnillo, the Juanicipio plant is expected to commence commissioning in Q4 2021, reaching 40 to 50% of its 4,000 tonnes per day (“tpd”) nameplate capacity by the end of 2021 and reaching 90 to 95% of its nameplate capacity in 2022.
During Q1 2021, on a 100% basis:
- 36,395 tonnes of mineralized material processed through the Fresnillo plant;
- 40% higher silver head grade (458 grams per tonne (“g/t”)) than the material processed in 2020 (328 g/t); and
- 431,188 payable silver ounces, 631 payable gold ounces, 137 tonnes of lead and 199 tonnes of zinc sold.
Pre-commercial production sales of $10,085 (net of treatment and processing costs) on a 100% basis less $1,886 in mining and transportation costs, netting $8,199 that was recorded as gross profit by the Juanicipio Joint Venture in Q1 2021.
Positive progress was achieved during the quarter on the construction of the 4,000 tpd Juanicipio processing plant and civil works. Mechanical installation of the major processing equipment is nearly complete, and the construction is focused on completing the building envelope along with pipework and electrical/instrumentation installation.
Mechanical completion of the SAG and ball mills expected in Q2 2021.

A regularly updated photo gallery of construction progress at Juanicipio is available at https://magsilver.com/projects/photo-gallery/#photo-gallery.
Underground development at Juanicipio is now over 37 km (23 miles) with preparation of the first production stope complete.
Juanicipio capex is estimated at $440,000 (100% basis) as of January 1, 2018, less approximately $272,000 in development expenditures incurred from then to March 31, 2021 leaving approximately $168,000 of remaining initial capital on a 100% basis (MAG’s 44% estimated at $73,920) as at March 31, 2021. The cash required will be reduced by:
- Existing cash held in Minera Juanicipio as at March 31, 2021 ($3,067 on a 100% basis); and
- Expected cashflow generated from mineralized material being processed through the Fresnillo plant up until the Juanicipio plant commences commissioning in Q4 2021.
A further 16,771 tonnes of development material were processed in April 2021.

EXPLORATION

In spite of temporary COVID-19 restrictions established by the Mexican Government in 2020, the full Juanicipio 2020 exploration program was completed as planned in 2020, drilling 33 holes and 27,900 metres. Full assays expected in Q2 2021.
The 2021 Exploration program for Juanicipio is budgeted at $6 million on a 100% basis, to be evenly allocated between continued step-out and infill drilling of the Valdecañas Vein System (including independent targeting of the Venadas Vein family and the Anticipada Vein) and three principal target areas elsewhere in the Joint Venture ground.
Deer Trail Project in Utah – Phase I drilling commenced in November, 2020 and is expected to be completed in Q2 2021 (assays and interpretations pending).

COVID-19

Juanicipio operator, Fresnillo, has implemented a range of safety measures and monitoring procedures, consistent with World Health Organization and Mexican Government COVID-19 directives.
In Q1 2021, Fresnillo, as operator, reported that commissioning of the Juanicipio processing plant is presently expected to commence in Q4 2021, a few months later than previously reported as some infrastructure contracts were delayed due to COVID-19 and COVID-19-related preventive measures implemented at site.

LIQUIDITY AND CAPITAL RESOURCES

As at March 31, 2021, MAG held cash and cash equivalents of $92,844 while Minera Juanicipio had cash on hand on a 100% basis of $3,067.

CORPORATE

Company continues to refresh its board, with the appointment of two new directors in Q1 2021:
- Appointed Susan Mathieu on January 13, 2021. Ms. Mathieu has more than twenty-five years of international mining experience encompassing due diligence, exploration, project development, permitting, construction and operational positions. Her mining experience covers the full spectrum from mine-site to corporate leadership roles in governance, environment, sustainability, community, health and safety, compliance and risk management programs and strategies. Prior to joining the MAG board, Ms. Mathieu was the Vice President, Environment and Sustainability with NexGen Energy, and previously held senior positions with Placer Dome, Falconbridge, Centerra Gold and Golder Associates.
- Appointed Tim Baker on March 31, 2021. Mr. Baker has substantial experience in operating international mines and projects. He was Executive Vice President and Chief Operating Officer of Kinross Gold Corporation prior to retiring in 2010. Prior to joining Kinross, he was with Placer Dome, where he held several key roles including Executive General Manager of Placer Dome Chile, Executive General Manager of Placer Dome Tanzania and Senior Vice President of the copper producing Compañia Minera Zaldivar. Mr. Baker is currently Chair of Golden Star Resources, a director of Sherritt International Corp. and serves on the Triple Flag Precious Metals Corp. Advisory Board. Mr. Baker has previously been a director on the boards of Augusta Resources Corp., Antofagasta PLC, Eldorado Gold Corp., Rye Patch Gold (later Alio Gold) and Pacific Rim Mining Corp.
- At the time Tim Baker was appointed, Richard Clark resigned from the board to focus on other professional responsibilities.

JUANICIPIO PROJECT UPDATE

Underground Mine Production

Mineralized material from development is being batch processed, refined and sold on commercial terms at a targeted rate of 16,000 tonnes per month at the nearby Fresnillo plant 14 kilometres away. The resulting concentrate is treated in Torreon, Coahuila. This preproduction toll processing is expected to continue until the Juanicipio plant commences commissioning in Q4 2021. The actual amount of material processed on a monthly basis may vary due to the variability of mineralization encountered in the development headings from month to month.

In the quarter ended March 31, 2021, 36,395 tonnes were batch processed, with an average silver head grade of 458 g/t (a 40% increase in silver head grade compared to the 328 g/t for development material processed in 2020). Total sales from the tonnes processed in Q1 2021, on a 100% basis, were 431,188 payable silver ounces, 631 payable gold ounces, 137 tonnes of lead and 199 tonnes of zinc. Provisional sales, net of processing and treatment costs totaled $10,085, and further costs incurred (including an applied mining cost and transportation costs) totaled $1,886 for a gross profit of $8,199 (see Table 1 below). The sales and treatment charges for tonnes processed in Q1 2021 were recorded on a provisional basis and will be adjusted based on final assay and pricing adjustments in accordance with the offtake contracts. Processing details are summarized in Table 1 below.

Table 1: Q1 2021 Development Material Processed at Fresnillo’s Processing Plant (100% basis)

	Quantity	Average Per Unit	Amount	Q1 2020 ⁽¹⁾
Silver (oz)(per oz)	431,188 ounces	$25.87	$11,157	–
Gold (oz)(per oz)	631 ounces	$1,728.59	$1,090	–
Lead (tonnes)(per lb)	137 tonnes	$0.88	$267	–
Zinc (tonnes)(per lb)	199 tonnes	$1.27	$555	–
Treatment and refining charges (“TCRCs”) and other processing costs			$(1,838)	–
Provisional sales adjustment related to 2020 sales ⁽²⁾			$(1,146)	–
Net Sales			$10,085	–
Mining and transportation costs			$(1,886)	–
Gross Profit			$8,199	–

⁽¹⁾Underground mine production of development material commenced in August of 2020, so there are no comparable Q1 2020 results.
⁽²⁾Provisional sales for 2020 were finalized in Q1 2021 resulting in negative adjustment to net sales revenue of $1,146.

Since August 2020, a total of 108,254 tonnes of mineralized development material have been processed at the Fresnillo plant in advance of commissioning the Juanicipio plant. MAG and Fresnillo expect to secure several positive outcomes from this processing for the Juanicipio Project:

generating cash-flow from production to offset some of the cash requirements of the initial project capital;
de-risking the flotation process through a better understanding of the metallurgical characteristics and response of the Juanicipio mineralization;
increased certainty around the geological block model prior to start-up of the processing plant; and
allowing a faster and more certain ramp-up to the nameplate 4,000 tpd plant design.

Processing Plant Construction and Commissioning

In the quarter ended March 31, 2021, further positive progress was achieved on the construction of the Juanicipio processing plant and civil works. The plant foundations were completed, with plant fabrication continuing. The SAG and ball mills are now installed, and their mechanical completion is expected in Q2 2021. The lead and zinc flotation cell lines have been installed and are being connected to the hydraulic circuit. Construction of the initial tailings storage facility has also begun.

Fresnillo, as operator, recently reported that commissioning of the Juanicipio processing plant is expected to commence in Q4 2021. The Juanicipio plant is expected to reach 40 to 50% of the nameplate 4,000 tpd capacity by the end of 2021 and 90-95% in 2022. In contrast, the 2017 PEA originally envisioned ramp-up to full production over 3 years after commissioning of the processing plant.

The capex or pre-operative project capital cost on a 100% basis, as estimated from January 1, 2018 is $440,000. The initial capital already expended from January 1, 2018 to March 31, 2021 is approximately $272,000 leaving an estimated $168,000 of remaining initial capital (MAG’s 44% estimated remaining share is $73,920 as at March 31, 2021). This remaining funding requirement will be reduced by both: existing cash held in Minera Juanicipio as at March 31, 2021 ($3,067 on a 100% basis); and expected cash flows generated from mineralized development material processed at an average nominal rate of 16,000 tonnes per month through the Fresnillo processing plant until the Juanicipio plant is commissioned.

Juanicipio Exploration Update

On the exploration front, the Juanicipio 2020 exploration program was completed as planned in 2020, comprising a total of 33 drill holes and 27,900 metres drilled. Full assays are expected in Q2 2021.

The 2021 Exploration program for Juanicipio is budgeted at $6 million, to be evenly allocated between continued step-out and infill drilling of the Valdecañas Vein System (including independent targeting of the Venadas Vein family and the Anticipada Vein) and three principal target areas elsewhere in the Joint Venture ground. Drilling of the Valdecañas Vein System began in January 2021 with four drill rigs (all assays pending), with a fifth expected mid-year depending on crew availability. Three of the drill rigs remain dedicated to Devico directional drilling. Permit applications for drilling the outlying targets have been submitted or are in the process of being generated pending surface access arrangements. Meanwhile, detailed mapping and sampling of these targets is underway. All aspects of the exploration work continue to be done under strict COVID-19 protocols (see COVID-19 below).

DEER TRAIL PROJECT UPDATE

Phase I surface-based core drilling program is approximately 70% complete at March 31, 2021, and is expected to be completed during Q2 2021 with assays and interpretations expected shortly thereafter. Follow-up Phase II drill targeting is being planned as interpretation of the incoming core and draft lab results are incorporated into the district geological model.

COVID-19

Juanicipio Project

The Juanicipio Project operator, Fresnillo, continues to closely monitor the spread of the virus and has implemented a range of safety measures in accordance with the World Health Organization and Mexican Government guidelines. These include stringent monitoring & hygiene, temperature screening and social distancing. Testing and contact tracing have been used to identify potential cases and prevent the spread of the virus. Fresnillo maintains an open dialogue with government officials at both the Federal and local level.

Deer Trail Project

Safety is one of MAG’s key core values and MAG has implemented strict COVID-19 protocols for the Deer Trail Project in line with guidance from governmental public health agencies. The Company established its COVID-19 response plan for Deer Trail in June 2020 with safety measures that include mandatory mask use, COVID-19 testing for contractors and employees prior to returning to site, temperature screening, employee health surveys, antibody rapid tests for team members to track exposure and social distancing. The Company continues to monitor the Utah Center for Disease Control and World Health Organization recommendations, updating the protocols in September 2020 and again in early January 2021. These updates include additional controls for positive result cases and a safe return to the workplace plan (post COVID-19). Most project employees and contractors have now been fully vaccinated.

Qualified Person: Dr. Peter Megaw, Ph.D., C.P.G., has acted as the Qualified Person as defined in National Instrument 43-101 for this disclosure and supervised the preparation of the technical information in this release. Dr. Megaw has a Ph.D. in geology and more than 40 years of relevant experience focused on ore deposit exploration worldwide. He is a Certified Professional Geologist (CPG 10227) by the American Institute of Professional Geologists and an Arizona Registered Geologist (ARG 21613). Dr. Megaw is not independent as he is Chief Exploration Officer and a Shareholder of MAG.

FINANCIAL RESULTS – THREE MONTHS ENDED MARCH 31, 2021

As at March 31, 2021, the Company had working capital of $94,923 (December 31, 2020: $94,513) including cash and cash equivalents of $92,844 (December 31, 2020: $94,008) and no long-term debt. As well, as at March 31, 2021, Minera Juanicipio had cash of $3,067 (MAG’s attributable 44% share of $1,349). The Company makes cash advances to Minera Juanicipio as ‘cash called’ by the operator Fresnillo, based on approved joint venture budgets. Subsequent to March 31, 2021, the Company advanced $23,716 to Minera Juanicipio representing 44% of a $53,900 cash call to fund process plant construction and further underground development of the Juanicipio property.

The Company’s net loss for three months ended March 31, 2021 amounted to $3,662 or $(0.04)/share (March 31, 2020: $14,898 or $(0.17)/share). The Company recorded a 44% equity income pick-up of $632 (March 31, 2020: $4,687 equity loss pick-up) from Minera Juanicipio which included MAG’s 44% share of net income from the sale of pre-production development material (see Table 2 below). The Company recorded deferred income tax expense of $1,647 for the three months ended March 31, 2021 (March 31, 2020: $8,694) driven primarily by the non-cash devaluation of certain tax assets denominated in Mexican Pesos, as the Mexico Pesos devalued against the US dollar in the quarter. Share based payment expense (a non-cash item) recorded in the three months ended March 31, 2021 amounted to $1,193 (March 31, 2020: $478).

Table 2: MAG’s Equity Pick-up from Minera Juanicipio

	March 31, 2021	March 31, 2020
Gross Profit from processing development material (see Table 1 above)	$8,199	Nil
Administrative expenses	$(368)	Nil
Interest and foreign exchange loss	$(1,075)	$(3,875)
Net Income (Loss) before tax	$6,756	$(3,875)
Income tax expense (including deferred income tax)	$(5,320)	$(6,766)
Net Income (Loss) for the period (100% basis)	$ 1,436	$(10,651)
MAG’s 44% equity pick-up	$ 632	$(4,687)

About MAG Silver Corp. (www.magsilver.com )

MAG Silver Corp. (MAG: TSX / NYSE A) is a Canadian development and exploration company focused on becoming a top-tier primary silver mining company by exploring and advancing high-grade, district scale, silver-dominant projects in the Americas. Its principal focus and asset is the Juanicipio Project (44%), being developed in a Joint Venture partnership with Fresnillo Plc (56%), the Operator. Juanicipio is located in the Fresnillo Silver Trend in Mexico, the world's premier silver mining camp, and the Joint Venture is currently developing an underground mine and constructing a 4,000 tonnes per day processing plant which is expected to commence commissioning in Q4 2021. Underground mine production of development material commenced in Q3 2020, and an expanded exploration program is in place targeting multiple highly prospective targets both at Juanicipio by the Joint Venture and by MAG at the Deer Trail 100% earn-in project in Utah.

Neither the Toronto Stock Exchange nor the NYSE American has reviewed or accepted responsibility for the accuracy or adequacy of this press release, which has been prepared by management.

This release includes certain statements that may be deemed to be “forward-looking statements” within the meaning of the US Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts are forward looking statements, including statements that address future mineral production, reserve potential, exploration drilling, exploitation activities and events or developments. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Although MAG 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. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, changes in commodities prices, changes in mineral production performance, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions, political risk, currency risk and capital cost inflation. In addition, forward-looking statements are subject to various risks, including that data is incomplete and considerable additional work will be required to complete further evaluation, including but not limited to drilling, engineering and socio-economic studies and investment. The reader is referred to the Company’s filings with the SEC and Canadian securities regulators for disclosure regarding these and other risk factors. There is no certainty that any forward-looking statement will come to pass and investors should not place undue reliance upon forward-looking statements.

Please Note: Investors are urged to consider closely the disclosures in MAG's annual and quarterly reports and other public filings, accessible through the Internet at www.sedar.com and www.sec.gov LEI: 254900LGL904N7F3EL14

CONTACT: For further information on behalf of MAG Silver Corp. Contact Michael J. Curlook, VP Investor Relations and Communications Phone: (604) 630-1399 Toll Free:(866) 630-1399 Website: www.magsilver.com Email: info@magsilver.com

The news driving these miners higher was pretty much what you would expect in the precious metals space.

NOT FOR DISTRIBUTION TO ANY UNITED STATES NEWSWIRE SERVICES OR OTHERWISE FOR DISTRIBUTION IN THE UNITED STATES

TORONTO, ON / ACCESSWIRE / May 17, 2021 / Pinetree Capital Ltd. (TSX:PNP) ("Pinetree") today announced the closing of its previously announced rights offering. Under the rights offering, rights holders purchased an aggregate of 9,420,198 common shares of Pinetree ("Common Shares") at a subscription price of C$1.85 per Common Share for aggregate gross proceeds of approximately C$17.4 million, the net proceeds of which will be used by Pinetree for general corporate purposes, including to make additional investments. No fees or commissions were paid in connection with the rights offering. However, Pinetree incurred approximately C$150,000 of expenses in connection with the rights offering.

To the knowledge of Pinetree, insiders of Pinetree (which includes L6 Holdings Inc. ("L6"), Peter Tolnai and Shezad Okhai, John Bouffard and Ian Howat), as a group, subscribed for and received an aggregate of 4,257,174 Common Shares pursuant to the basic subscription privilege and 551,402 Common Shares pursuant to the additional subscription privilege. All other rights holders, as a group, subscribed for and received an aggregate of 4,091,082 Common Shares pursuant to the basic subscription privilege and 520,540 Common Shares pursuant to the additional subscription privilege. To the knowledge of Pinetree, no person became an insider as a result of the rights offering.

L6 (a family holding company owned indirectly by Pinetree's President, Damien Leonard, and certain of his siblings), subscribed for and received 3,516,202 Common Shares under the rights offering. Upon closing of the rights offering, a total of 18,840,396 Common Shares were issued and outstanding, of which L6 beneficially owns 6,630,153, representing approximately 35.2% of the issued and outstanding Common Shares. Upon closing of the rights offering, to the knowledge of Pinetree, Peter Tolnai and Shezad Okhai beneficially own 7.9% and 4.6%, respectively, of the issued and outstanding Common Shares.

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

Forward-Looking Statements

Certain statements herein may be "forward looking" statements that involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Pinetree or the industry to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the expectations discussed in the forward-looking statements. These forward-looking statements reflect current assumptions and expectations regarding future events and are made as of the date hereof and Pinetree assumes no obligation, except as required by law, to update any forward-looking statements to reflect new events or circumstances. Accordingly, when relying on forward-looking statements to make decisions, Pinetree cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties. Forward-looking statements in this news release include statements with respect to the intended use of the net proceeds of the rights offering.

About Pinetree Capital Ltd.

Pinetree is a value-oriented investment and merchant banking company focused on the technology sector. Pinetree's common shares are listed on the TSX under the symbol "PNP".

For further information:
John Bouffard
Chief Financial Officer
416-941-9600 x 200
jbouffard@pinetreecapital.com
www.pinetreecapital.com

SOURCE: Pinetree Capital Ltd.

View source version on accesswire.com:
https://www.accesswire.com/647853/Pinetree-Capital-Announces-Closing-of-Rights-Offering

We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. Unfortunately, there are also plenty of examples of share prices declining precipitously after insiders have sold shares. So before you buy or sell Silver City Minerals Limited (ASX:SCI), you may well want to know whether insiders have been buying or selling.

What Is Insider Selling?

Most investors know that it is quite permissible for company leaders, such as directors of the board, to buy and sell stock in the company. However, such insiders must disclose their trading activities, and not trade on inside information.

Insider transactions are not the most important thing when it comes to long-term investing. But logic dictates you should pay some attention to whether insiders are buying or selling shares. For example, a Columbia University study found that 'insiders are more likely to engage in open market purchases of their own company’s stock when the firm is about to reveal new agreements with customers and suppliers'.

Check out our latest analysis for Silver City Minerals

The Last 12 Months Of Insider Transactions At Silver City Minerals

Over the last year, we can see that the biggest insider purchase was by insider John Gaffney for AU$486k worth of shares, at about AU$0.016 per share. Even though the purchase was made at a significantly lower price than the recent price (AU$0.033), we still think insider buying is a positive. Because the shares were purchased at a lower price, this particular buy doesn't tell us much about how insiders feel about the current share price.

You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!

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

Insider Ownership

Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. A high insider ownership often makes company leadership more mindful of shareholder interests. Silver City Minerals insiders own about AU$4.1m worth of shares. That equates to 22% of the company. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.

What Might The Insider Transactions At Silver City Minerals Tell Us?

There haven't been any insider transactions in the last three months — that doesn't mean much. On a brighter note, the transactions over the last year are encouraging. Insiders own shares in Silver City Minerals and we see no evidence to suggest they are worried about the future. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. At Simply Wall St, we've found that Silver City Minerals has 4 warning signs (2 are potentially serious!) that deserve your attention before going any further with your analysis.

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

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

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

There's no doubt that money can be made by owning shares of unprofitable businesses. For example, although software-as-a-service business Salesforce.com lost money for years while it grew recurring revenue, if you held shares since 2005, you'd have done very well indeed. But while history lauds those rare successes, those that fail are often forgotten; who remembers Pets.com?

So should Eastern Platinum (TSE:ELR) 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'.

View our latest analysis for Eastern Platinum

How Long Is Eastern Platinum's Cash Runway?

A company's cash runway is calculated by dividing its cash hoard by its cash burn. In March 2021, Eastern Platinum had US$9.2m in cash, and was debt-free. Looking at the last year, the company burnt through US$9.4m. That means it had a cash runway of around 12 months as of March 2021. To be frank, this kind of short runway puts us on edge, as it indicates the company must reduce its cash burn significantly, or else raise cash imminently. Depicted below, you can see how its cash holdings have changed over time.

Is Eastern Platinum's Revenue Growing?

We're hesitant to extrapolate on the recent trend to assess its cash burn, because Eastern Platinum actually had positive free cash flow last year, so operating revenue growth is probably our best bet to measure, right now. We think that it's fairly positive to see that revenue grew 22% in the last twelve months. Of course, we've only taken a quick look at the stock's growth metrics, here. You can take a look at how Eastern Platinum has developed its business over time by checking this visualization of its revenue and earnings history.

How Hard Would It Be For Eastern Platinum To Raise More Cash For Growth?

Notwithstanding Eastern Platinum's revenue growth, it is still important to consider how it could raise more money, if it needs to. Companies can raise capital through either debt or equity. One of the main advantages held by publicly listed companies is that they can sell shares to investors to raise cash and fund growth. By comparing a company's annual cash burn to its total market capitalisation, we can estimate roughly how many shares it would have to issue in order to run the company for another year (at the same burn rate).

Eastern Platinum's cash burn of US$9.4m is about 21% of its US$45m market capitalisation. That's not insignificant, and if the company had to sell enough shares to fund another year's growth at the current share price, you'd likely witness fairly costly dilution.

How Risky Is Eastern Platinum's Cash Burn Situation?

On this analysis of Eastern Platinum's cash burn, we think its revenue growth was reassuring, while its cash runway has us a bit worried. We don't think its cash burn is particularly problematic, but after considering the range of factors in this article, we do think shareholders should be monitoring how it changes over time. On another note, Eastern Platinum has 3 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.

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

It is not uncommon to see companies perform well in the years after insiders buy shares. Unfortunately, there are also plenty of examples of share prices declining precipitously after insiders have sold shares. So shareholders might well want to know whether insiders have been buying or selling shares in Bitterroot Resources Ltd. (CVE:BTT).

Do Insider Transactions Matter?

It's quite normal to see company insiders, such as board members, trading in company stock, from time to time. However, most countries require that the company discloses such transactions to the market.

We don't think shareholders should simply follow insider transactions. But it is perfectly logical to keep tabs on what insiders are doing. For example, a Harvard University study found that 'insider purchases earn abnormal returns of more than 6% per year'.

See our latest analysis for Bitterroot Resources

The Last 12 Months Of Insider Transactions At Bitterroot Resources

The CFO & Director George Sanders made the biggest insider purchase in the last 12 months. That single transaction was for CA$90k worth of shares at a price of CA$0.06 each. Although we like to see insider buying, we note that this large purchase was at significantly below the recent price of CA$0.13. Because it occurred at a lower valuation, it doesn't tell us much about whether insiders might find today's price attractive.

Over the last year, we can see that insiders have bought 3.05m shares worth CA$184k. But insiders sold 1.00m shares worth CA$60k. In the last twelve months there was more buying than selling by Bitterroot Resources insiders. The chart below shows insider transactions (by companies and individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!

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

Insider Ownership

Many investors like to check how much of a company is owned by insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. Insiders own 13% of Bitterroot Resources shares, worth about CA$1.2m, according to our data. Overall, this level of ownership isn't that impressive, but it's certainly better than nothing!

What Might The Insider Transactions At Bitterroot Resources Tell Us?

There haven't been any insider transactions in the last three months — that doesn't mean much. But insiders have shown more of an appetite for the stock, over the last year. The transactions are fine but it'd be more encouraging if Bitterroot Resources insiders bought more shares in the company. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Bitterroot Resources. To help with this, we've discovered 4 warning signs (2 are potentially serious!) that you ought to be aware of before buying any shares in Bitterroot Resources.

Of course Bitterroot Resources may not be the best stock to buy. So you may wish to see this free collection of high quality companies.

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

Morganti & Co., A pro-investor law firm with licensed and experienced lawyers in Canada and the United States that represent investors announces the filing of a securities class action on behalf of investors who purchased or otherwise acquired common stock of Bellus Health, Inc. ("Bellus" or "Company") (NASDAQ: BLU, TSX: BLU, FWB: BHN0) from September 5, 2019 through July 5, 2020, inclusive (the "Class Period").

Bellus is a biopharmaceutical company whose lead product is BLU-493, which is still being developed for the treatment of chronic cough and other afferent hypersensitization related disorders. The Complaint alleges that Bellus made false and misleading statements that resulted in the dramatic decrease in stock price on July 6, 2020. On July 6, 2020, Bellus reported that the Phase 2 RELIEF trial did not achieve statistical significance for primary endpoint of reduction in placebo-adjusted cough frequency at any dose tested.

If you purchased Bellus’ securities on either the Nasdaq or Toronto Stock Exchange and would like to learn more about the differences between enforcing your rights and access to justice, please contact us at info@morgantico.com. You can be based in The Americas, Asia, Europe or anywhere, we welcome you to contact us to protect your rights and recover your investment.

Morganti & Co. is a law firm representing all types of investors – we do not discriminate on how much you lost, where you reside, or which stock exchange you purchased securities. We are the law firm that helped create court decisions to allow global investors to enforce their rights in Canadian courts. In Canada, we are affiliated with Kim Spencer McPhee Barristers, P.C. Our lawyers are fluent in Arabic, English, French, German, Hindi, Korean, and Farsi.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210515005012/en/

Contacts

Andrew Morganti or Manjit Singh
Licensed to practice law in Ontario, Canada, California, and New York, USA
Morganti & Co., P.L.C.
550 Merrill Street, Suite 100
Birmingham, Michigan 48009
Tel: (647) 344-1900
www.morgantico.com
info@morgantico.com

Vancouver, British Columbia–(Newsfile Corp. – May 14, 2021) – Lithium Chile Inc. (TSXV: LITH) – President and CEO Steve Cochrane speaks about the company's large, diversified lithium portfolio.

If you cannot view the video above, please visit:

https://b-tv.com/lithium-chile-ceo-clip-90sec/

Lithium Chile is being featured on BNN Bloomberg May 15^th – May 16^th, 2021.

Lithium Chile Inc. (TSXV: LITH)

lithiumchile.ca

About CEO Clips:

CEO Clips is the largest library of publicly traded company CEO videos in Canada and the US. These 90 second video profiles broadcast on national TV and online via 15 top financial sites including: Thomson Reuters, Bloomberg, Yahoo! Finance and Stockhouse.com.

BTV – Business Television/CEO Clips Contact: Trina Schlingmann (604) 664-7401 x 5 trina@b-tv.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/84211

Quarterly Financial Results for the Three Months Ended 31 March 2021

LONDON, UK / ACCESSWIRE / May 14, 2021 / Horizonte Minerals Plc, (AIM:HZM, TSX:HZM) ('Horizonte' or 'the Company') the nickel company focused on Brazil, announces its unaudited financial results for the three month period to 31 March 2021 and the Management Discussion and Analysis for the same period. Both of the aforementioned documents have been posted on the Company's website www.horizonteminerals.com and are also on SEDAR at www.sedar.com.

Highlights for the Period

Successful completion of a £18 million fundraise with predominately new institutions resulting in a strengthened cash balance of £26 million.
Multiple components of the Araguaia project finance package reaching final stages.
Appointment of BMO Capital Market Limited as joint broker.
Appointment of Michael Drake as Head of Projects.
Award of power line licence to cover the full power requirement of the Araguaia project at nameplate capacity.
Continued support provided to local communities in response to the ongoing Covid-19 pandemic.

Post Period Events

Contract for the Environmental and Social Impact Assessment for the Vermelho project awarded to Ramboll.

Horizonte Minerals plc
Unaudited Amended Condensed Consolidated Interim Financial Statements for the three months ended 31 March 2021

Click on, or paste the following link into your web browser, to view the associated PDF document.

http://www.rns-pdf.londonstockexchange.com/rns/6083Y_1-2021-5-13.pdf

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Horizonte Minerals PLC

View source version on accesswire.com:
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Vancouver, British Columbia–(Newsfile Corp. – May 14, 2021) – Eastern Platinum Limited (TSX: ELR) (JSE: EPS) ("Eastplats" or the "Company") is pleased to report that it has filed its condensed interim consolidated financial statements and management's discussion and analysis for the three months ended March 31, 2021 ("Q1 2021"). Below is a summary of the Company's financial results for Q1 2021 (all amounts in USD) in comparison to the same period in 2020 ("Q1 2020"):

Revenue for Q1 2021 increased to $16.7 million (Q1 2020 – $14.2 million);

Mining operating income was $1.4 million for Q1 2021 (Q1 2020 – $1.4 million);

Positive working capital (current assets less current liabilities) of $11.4 million as at March 31, 2021 (December 31, 2020 – $4.1 million); and

Net loss attributable to shareholders decreased to $0.9 million (loss attributable to shareholders of $0.01 per share) in Q1 2021 versus a loss of $8.2 million (loss attributable to shareholders of $0.09 per share) in Q1 2020. The improvement is attributable to the continued revenue generated by the Retreatment Project and the reduction of a foreign exchange loss of $8.7 million in Q1 2020, which resulted from the significant drop in the South African rand to the U.S. dollar in March 2020 at the backdrop of COVID-19.

Operations

The Company continues its tailings remining operations generating chrome concentrate at Barplats Mines (Pty) Limited tailings facility (the "Retreatment Project") located at the Company's Crocodile River Mine in South Africa ("CRM").

Chrome recovery from production during Q1 2021:

Average grade of the chrome concentrates	Tons of chrome concentrates produced
38.47%	203,901

The recent completion of the reconfiguration and optimization of the small-scale platinum group metal ("PGM") circuit ("PGM Circuit D") successfully utilized the feed, following the recovery of chrome concentrate, to produce PGM concentrates under the respective offtake agreements in Q1 2021 (see press release of May 11, 2021).

Outlook

The Company's CRM Retreatment Project in South Africa operated without restrictions following the temporary shut-downs of operations during the second quarter of 2020 due to COVID-19. The Company remains vigilant to continue its high standards in regards to maintaining safe operations.

Although the current outlook is positive due to the reduced restrictions, all operations could be affected by new COVID-19 issues or new lockdown directives in South Africa.

The Company will update its various forecasts for 2021 following the completion of the Optimization Program, timing of which is currently not known. The effects of COVID-19 are changing rapidly and could have material effects on the Company's 2021 outlook and its ability to attain targets.

The completion timing of the Optimization Program remains uncertain due to the lockdown impact on travel and construction regulations and other COVID-19 related issues. Subject to changes due to COVID-19 or other government directives the Company will do its best to establish an updated schedule as soon as practical.

The Company's targets for 2021 were updated following the completed Rights Offering in January 2021, including:

Continue operating the Retreatment Project efficiently;

Reconfigure, optimize, and consistently operate the small-scale PGM Circuit D, which also includes funding for some of the initial work required to restart the PGM Main Circuit (See press release of February 2, 2021);

Completion of the Optimization Project for the Retreatment Project;

Establishment of the appropriate TSF phase II capital works program;

Upgrades and repairs to the CRM Zandfontein underground shaft and rock winder to ensure they are available for underground mining operations;

Completion of the refurbishment of the existing PGM Main Circuit to increase the capacity and recovery opportunity of PGM recovery and sales;

Mareesburg project environmental work to complete the EIA regarding the haul road and project;

Prospecting and assessment work in relation to Zandfontein, Crocette and Spitzkop ore bodies;

EIA and assessment work regarding a vertical furnace and pelletizer of chrome concentrate;

CRM underground assessment including all chrome recovery activities in relation to the Retreatment Project; and

Capital requirements for care and maintenance, working capital and general and administrative costs.

The Company is actively progressing several revenue opportunities and exploring options to utilize or monetize other assets.

The Company has filed the following documents, under the Company's profile on SEDAR at www.sedar.com:

Condensed interim consolidated financial statements for the three months ended March 31, 2021; and

Management's discussion and analysis for the three months ended March 31, 2021.

For further information, please contact:

EASTERN PLATINUM LIMITED
Wylie Hui, Chief Financial Officer
whui@eastplats.com (email)
(604) 800-8200 (phone)

Cautionary Statement Regarding Forward-Looking Information

This press release contains "forward-looking statements" or "forward-looking information" (collectively referred to herein as "forward-looking statements") within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "will", "plan", "intends", "may", "could", "expects", "anticipates" and similar expressions. Further disclosure of the risks and uncertainties facing the Company and other forward-looking statements are discussed in the Company's most recent Annual Information Form available under the Company's profile on www.sedar.com.

In particular, this press release contains, without limitation, forward-looking statements pertaining to: forecast of operational activity of the Retreatment Project, estimated operations and production of PGM Circuit D and PGM Main Circuit; estimated ramp up or upgrades to the PGM Circuit D and PGM Main Circuit; potential additional revenue from the PGM Circuit D and PGM Main Circuit; potential effects of COVID-19 such as a new lockdown imposed by the Government of South Africa; and any future measures taken by the Government of South Africa and their impact on the Company, and its business, operations, liquidity and cashflows. These forward-looking statements are based on assumptions made by and information currently available to the Company. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. By their very nature, forward-looking statements involve inherent risks and uncertainties and readers are cautioned not to place undue reliance on these statements as a number of factors could cause actual results to differ materially from the beliefs, plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors include, but are not limited to, unanticipated problems that may arise in the Company's production processes, commodity prices, lower than expected grades and quantities of resources, need for additional funding and availability of such additional funding on acceptable terms, economic conditions, currency fluctuations, competition and regulations, legal proceedings and risks related to operations in foreign countries.

All forward-looking statements in this press release are expressly qualified in their entirety by this cautionary statement, the "Cautionary Statement on Forward-Looking Information" section contained in the Company's most recent Management's Discussion and Analysis available under the Company's profile on www.sedar.com. The forward-looking statements in this press release are made as of the date they are given and, except as required by applicable securities laws, the Company disclaims any intention or obligation, and does not undertake, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/84028

VANCOUVER, BC / ACCESSWIRE / May 14, 2021 / Commerce Resources Corp. (TSXV:CCE)(FSE:D7H0)(OTCQX:CMRZF) (the "Company" or "Commerce") is pleased to announce that it has signed a one year contract with 121 Group Ltd., publishers of The Assay Group Mining Magazine. 121 Group Ltd. is based in Hong Kong, and the USD $15,000 annual fee is for a package that includes feature profiles in 4 editions of The Assay, weekly newsletter profile features, up to 4 Assay TV interviews, and select Commerce news releases to be covered by content writers, social media channels and The Assay Weekly.

The Assay is a 121 Group initiative that provides a print and online platform for leading fund managers and analysts to share their investment outlooks and market insights. Each edition of The Assay showcases a range of exploration, development, and production assets, providing both private and publicly listed companies' year-round global exposure to the institutional mining investor community.

The agreement with 121 Group Ltd. is subject to approval by the TSX Venture Exchange.

About Commerce Resources Corp.

Commerce Resources Corp. is an exploration and development company with a particular focus on deposits of rare metals and rare earth elements. The Company is focused on the development of its Ashram Rare Earth Element Deposit in Quebec and the Upper Fir Tantalum-Niobium Deposit in British Columbia.

For more information, please visit the corporate website at www.commerceresources.com or email info@commerceresources.com.

On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.

"Chris Grove"
Chris Grove
President and Director
Tel: 604.484.2700
Email: cgrove@commerceresources.com
Web: http://www.commerceresources.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 Statement Regarding Forward-Looking Statements

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to the expectations of management regarding coverage and investor relations to be done by The Assay. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including that: the Exchange may not approve the contract; The Assay may not complete what has been contracted; and those additional risks set out in the Company's public documents filed on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

SOURCE: Commerce Resources Corp.

View source version on accesswire.com:
https://www.accesswire.com/647578/Commerce-Resources-Corp-Announces-Agreement-with-121-Group-Ltd

Silver Bear Resources Plc ("Silver Bear" or the "Company") (TSX: SBR) announces the filing of its unaudited financial results for the three-month period ended 31 March 2021 today, including development highlights from its Mangazeisky silver project in Far East Russia.

For complete details of the unaudited consolidated financial statements ("Financial Statements") and associated management’s discussion and analysis ("MD&A"), please refer to the Company’s filings on SEDAR (www.sedar.com) or the Company’s website (www.silverbearresources.com).

Q1 2021 HIGHLIGHTS

During the three-month period ended 31 March 2021 the Group production statistics included:

Mined a total of 25,179 tonnes of ore, processed 23,825 tonnes of ore at an average grade of 645 g/t of silver, producing a total of 436,086 ounces of silver;
Sold a total of 495,230 ounces of silver totaling production revenue of US$13,123,020 and reported a total comprehensive loss of $9,088,515 and an accumulated deficit of $228,374,679.
In the first quarter 2021, the Group entered into a loan agreement with SKA ASSETS MANAGEMENT LIMITED, a company under common control with Inflection, in the amount of RUB 750,000,000 (equivalent to approximately C$12,000,000) with an interest rate of 8.27% per annum, which interest shall accrue on a monthly basis. The Principal will be due and payable on 31 December 2021.
On 30 March 2021, the Group announced the filing of the final WAI NI 43-101 technical report titled "Mangazeisky Silver Project MRE Update and Strategy Re-assessment, Republic of Sakha (Yakutia), Russian Federation" (the "Final WAI Report"). For full details on the Final WAI Report please see the Operations section in the Q1 2021 MD&A.
As of the date of this report, the Group confirms there have been no major disruptions at the mine site or to the Group’s planned production and operations due to the COVID-19 pandemic.

MANGAZEISKY SILVER PROJECT COMMERCIAL PRODUCTION

The table below details the production highlights for three-month period ended 31 March 2021 and 2020.

Production Highlights

	Three-months ended 31 March 2021	Three-months ended 31 March 2020	Year ended 31 December 2020
Operating Data
Ore Mined (tonnes)	25,179	35,650	114,877
Ore processed (tonnes)	23,825	25,344	109,460
Head grade (g/t Ag)	645	707	640
Recovery (%)	90	80.1	85.4%
Silver ounces produced	436,086	457,458	1,917,360

Financial Data
Silver ounces sold	495,230	472,439	1,937,158
Average realized price (US$/oz)	26,50	16.88	20.03
Production and pre-production revenues (US$)	13,123,020	7,974,832	38,796,691

Development & Operational Activities

During the first quarter 2021, the Group mined 29% less ore compared to the same quarter in 2020, as it moved deeper into Vertikalny open pit and further open pit extension required. Mining head grade reduced from first quarter 2020 to first quarter in 2021 by 9%, however recoveries increased by 12% as a result of several factors notably the full year of operating the Merrill Crowe process (a separation technique) at the end of the technological processing circuit and the operational efficiencies implemented during the year. The 5% decrease in the silver production in the first quarter 2021 over 2020, is primarily due to volume of processed ore and head grade. The Group’s first quarter 2021 revenues increased by 65% compared to first quarter 2020, due to increased silver recovery and the improvement of the average price of silver in the first quarter of 2021.

During the 2021 winter road procurement and transportation campaign the company delivered approximately 14,000 tonnes of dry cargo and fuel, including regular operation supplies as well as construction materials for the flotation facility currently being built.

The construction of the flotation facility is underway. During the first quarter of 2021 the construction of the foundation was substantially completed. The plan is to compete the construction and put the facility into production by end of Q2 2022.

As of the date of this report there are approximately 236 Prognoz employees at site. There are also 59 contractors, namely catering, process consultants, and construction workers. As of 31 March 2021, there was no lost time recorded accident at site.

In light of the World Health Organization ("WHO") declaring COVID-19 a global pandemic in March of this year, the Group has developed and implemented a response and mitigation plan for both its Yakutsk head office and Mangazeisky mine site. At the date of this report the Group has had no major disruptions at either sites or to our planned production and operations, however we continue to monitor the situation ensuring we keep the safety of our work force our main priority.

About Silver Bear

Silver Bear (TSX: SBR) is focused on the development of its wholly-owned Mangazeisky Silver Project, covering a licence area of approximately 570 km² that includes the high-grade Vertikalny deposit (amongst the highest- grade silver deposits in the world), located 400 km north of Yakutsk in the Republic of Sakha within the Russian Federation. As of April 2018, the Company attained first silver production as a result of commissioning activities and on 1 July 2019 the Company achieved full commercial production. Other information relating to Silver Bear is available on SEDAR at www.sedar.com as well as on the Company’s website at www.silverbearresources.com.

Cautionary Notes

This release and subsequent oral statements made by and on behalf of the Company may contain forward-looking statements, which reflect management's expectations. Wherever possible, words such as "intends", "expects", "scheduled", "estimates", "anticipates", "believes" and similar expressions or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, have been used to identify these forward-looking statements. Although the forward-looking statements contained in this release reflect management's current beliefs based upon information currently available to management and based upon what management believes to be reasonable assumptions, the Company cannot be certain that actual results will be consistent with these forward-looking statements. A number of factors could cause events and achievements to differ materially from the results expressed or implied in the forward-looking statements. Such risk factors include, but are not limited, to the risk factors identified by the Company in its continuous disclosure filings filed from time to time on SEDAR. These factors should be considered carefully and prospective investors should not place undue reliance on the forward-looking statements. Forward-looking statements necessarily involve significant known and unknown risks, assumptions and uncertainties that may cause the Company's actual results, events, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company has attempted to identify important risks and factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors and risks that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, prospective investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date of this release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, unless otherwise required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210514005429/en/

Contacts

Vadim Ilchuk
President and Chief Executive Officer
T: +7 985 866 8877
info@silverbearresources.com

Judith Webster
Investor Relations Manager & Corporate Secretary
T: +416 453 8818
jwebster@silverbearresources.com

Image source: The Motley Fool. Pan American Silver (NASDAQ: PAAS)Q1 2021 Earnings CallMay 13, 2021, 11:00 a.m. ETContents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: OperatorThank you for standing by.

A look at the shareholders of Anglo Pacific Group plc (LON:APF) can tell us which group is most powerful. Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. We also tend to see lower insider ownership in companies that were previously publicly owned.

With a market capitalization of UK£330m, Anglo Pacific Group is a small cap stock, so it might not be well known by many institutional investors. Our analysis of the ownership of the company, below, shows that institutions are noticeable on the share registry. We can zoom in on the different ownership groups, to learn more about Anglo Pacific Group.

See our latest analysis for Anglo Pacific Group

What Does The Institutional Ownership Tell Us About Anglo Pacific Group?

As you can see, institutional investors have a fair amount of stake in Anglo Pacific Group. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. 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 Anglo Pacific Group's earnings history below. Of course, the future is what really matters.

Investors should note that institutions actually own more than half the company, so they can collectively wield significant power. Anglo Pacific Group is not owned by hedge funds. Aberforth Partners LLP is currently the largest shareholder, with 10% of shares outstanding. With 7.5% and 6.6% of the shares outstanding respectively, Schroder Investment Management Limited and Hargreave Hale Limited, Asset Management Arm are the second and third largest shareholders. Additionally, the company's CEO Julian Treger directly holds 2.2% of the total shares outstanding.

We also observed that the top 10 shareholders account for more than half of the share register, with a few smaller shareholders to balance the interests of the larger ones to a certain extent.

While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. Quite a few analysts cover the stock, so you could look into forecast growth quite easily.

Insider Ownership Of Anglo Pacific Group

While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it.

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

I can report that insiders do own shares in Anglo Pacific Group plc. In their own names, insiders own UK£8.8m worth of stock in the UK£330m company. Some would say this shows alignment of interests between shareholders and the board. But it might be worth checking if those insiders have been selling.

General Public Ownership

The general public, with a 15% stake in the company, will not easily be ignored. This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders.

Private Company Ownership

It seems that Private Companies own 3.9%, of the Anglo Pacific Group stock. It's hard to draw any conclusions from this fact alone, so its worth looking into who owns those private companies. Sometimes insiders or other related parties have an interest in shares in a public company through a separate private company.

Next Steps:

While it is well worth considering the different groups that own a company, there are other factors that are even more important. To that end, you should be aware of the 2 warning signs we've spotted with Anglo Pacific Group .

If you would prefer discover what analysts are predicting in terms of future growth, do not miss this free report on analyst forecasts.

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

TORONTO, May 14, 2021 /CNW/ – Excellon Resources Inc. (TSX: EXN) (TSX: EXN.WT) (NYSE: EXN) and (FRA: E4X2) ("Excellon" or the "Company") is pleased to report that shareholders voted in favour of all items of business, including the election of directors at the 2021 Annual General Meeting held on May 13, 2021 (the "AGM"). Detailed results from the election of directors are set out below:

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

Director	Votes For	% For	Votes Withheld	% Withheld
Brendan Cahill	3,075,152	99.25%	23,295	0.75%
André Fortier	3,066,057	98.96%	32,390	1.05%
Laurence Curtis	3,066,611	98.97%	31,836	1.03%
Anna Ladd-Kruger	3,075,140	99.25%	23,307	0.75%
Craig Lindsay	2,956,441	95.42%	142,006	4.58%
Roger Norwich	3,075,495	99.26%	22,952	0.74%
Michael Timmins	3,067,458	99.00%	30,989	1.00%

Prior to the AGM and after the Company mailed its Management Information Circular dated March 16, 2021, Mr. Farncomb decided not to stand for re-election as a director of the Company due to other personal and business commitments. Mr. Farncomb was an exceptional member of the Board and Excellon team since joining in December 2017 and the Board of Directors extends best wishes for his future endeavours.

Complete voting results are available on SEDAR at www.sedar.com.

About Excellon

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

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

SOURCE Excellon Resources Inc.

Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2021/14/c1929.html

VANCOUVER, BC, May 14, 2021 /CNW/ – The following issues have been halted by IIROC:

Company: Lithium Chile Inc.

TSX-Venture Symbol: LITH

All Issues: Yes

Reason: At the Request of the Company Pending News

Halt Time (ET): 7:45 AM

IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – Halts/Resumptions

Cision

View original content: http://www.newswire.ca/en/releases/archive/May2021/14/c9391.html

Figure 1.

Plan map of Winter 2021 drilling at Glade

Figure 2.

Plan map of Winter 2021 drilling at Jovan

Picture 1

Visible gold in hole AG-21-097

TORONTO, May 13, 2021 (GLOBE NEWSWIRE) — MacDonald Mines Exploration Ltd. (TSX-V: BMK, OTC: MCDMF) (“MacDonald Mines” or the “Company”) reports on results from its Winter 2021 drilling program at its 100% owned SPJ Project, 30 km east of Sudbury, Ontario. Of significant note, a high-grade discovery was made in the Glade area, 800 m south of the historical Scadding Mine with results highlighted by 5.17 g/t gold over 22.67 m, including 113 g/t gold over 0.96 m. Ground exploration will begin next week to develop new targets on the 2.3 km Alkin-Glade trend for the next round of drilling.

Highlights include:

Glade – High-grade gold mineralization was discovered 800 m south of the historical Scadding Mine (Figure 1):
- 5.17 g/t gold over 22.67 m, including 113 g/t gold over 0.96 m in hole AG-21-097.
- Visible gold was observed in both holes AG-21-096 and AG-21-097.
- The iron-chlorite alteration that hosts gold at Glade appears similar to that of the Scadding Deposit and could indicate a large mineralized system.

Jovan – Gold mineralization with associated silver and nickel mineralization was intersected (Figure 2):
- 0.88 g/t gold over 6.25 m in hole JV-21-093 – confirming and extending the Palkovits Gold Structure
- High-grade silver mineralization with 774 g/t Ag over 1.22 m in hole JV-21-088.

Mia Boiridy, President and CEO, comments, “The results at Glade are exciting. Not only did we intersect quartz veins with high-grade gold, but the presence of iron-chlorite alteration, similar to what is seen at Scadding, indicates that this area may represent an extension of that mineralized system. We will immediately follow up on this discovery and look to extend the high-grade gold mineralization along the 2.3 km trend between the Glade showings and the historical Alkin mine. Mechanized stripping and trenching will begin next week to expose mineralization at surface and define our next round of drilling.”

“We are equally pleased to report that the drill results from Jovan have confirmed and extended the Palkovits Gold Structure and intersected high-grade silver. While Glade is showing a potential extension of the high-grade gold mineralized system of the Scadding area, the Jovan results confirm our theory that a much larger gold/polymetallic system is at work on our large SPJ Project”.

Figure 1. Plan map of Winter 2021 drilling at Glade
https://www.globenewswire.com/NewsRoom/AttachmentNg/7f9a89cb-c5cf-4025-9349-1283c58f99bb

Figure 2. Plan map of Winter 2021 drilling at Jovan
https://www.globenewswire.com/NewsRoom/AttachmentNg/b9e0f125-8072-473f-8ac4-1480463796f8

Table 1. Reported assays – Winter 2021 drill program

Hole	From (m)	To	Length* (m)	Gold	Ag (g/t)	Pd (g/t)	Ni	Structure
Hole	From (m)	(m)	Length* (m)	(g/t)	Ag (g/t)	Pd (g/t)	(wt. %)	Structure
JV-21-084	26.19	27.50	1.31	0.85				Ess Creek Corridor
JV-21-084	212.38	217.63	5.25			0.055	0.12	Ess Creek Corridor
JV-21-086	58.29	59.55	1.26	0.51				Ess Creek Corridor
JV-21-087	139.00	143.65	4.65	0.19				Ess Creek Corridor
JV-21-088	295.53	296.75	1.22		774.00			Ess Creek Corridor
JV-21-090	84.47	104.95	20.48	0.15				Palkovits Structure
JV-21-093	87.50	93.75	6.25	0.88				Palkovits Structure
JV-21-085	No significant results
JV-21-089	No significant results
JV-21-091	No significant results
JV-21-092	No significant results
JV-21-094	No significant results
AG-21-096	10.17	19.21	9.04	0.86				Alkin-Glade Trend
	Including
	13.20	14.20	1.00	4.06
AG-21-097	8.16	16.00	7.84	0.32				Alkin-Glade Trend
	25.17	26.17	1.00	2.05
	33.85	38.33	4.48	0.26
	86.78	109.45	22.67	5.17
	Including
	100.28	101.24	0.96	113.00

*Assay results are presented over core length. As they represent discoveries, additional drilling is necessary to estimate the true width of the discovered zones of mineralization.

Table 2. Coordinates of reported holes

Hole ID	Easting	Northing	Elevation	Azimuth	Dip	Depth (m)
JV-21-084	538325.1	5165524	267.6	359.5	-47.5	314
JV-21-085	538448.0	5165498	257.4	0.0	-45.0	370
JV-21-086	537846.4	5165228	256.2	344.6	-55.8	310
JV-21-087	537847.0	5165229	255.8	346.8	-63.2	385
JV-21-088	538383.0	5165443	264.7	347.1	-51.9	400
JV-21-089	536746.3	5165865	296.6	29.5	-60.1	103
JV-21-090	536174.4	5165712	300.1	345.4	-50.0	232
JV-21-091	536174.4	5165712	300.1	30.0	-48.0	217
JV-21-092	536544.4	5164986	306.6	355.3	-72.7	325
JV-21-093	536174.4	5165712	300.1	285.0	-45.0	202
JV-21-094	535986.6	5165095	314.6	330.0	-70.0	328
AG-21-096	529078.0	5165595	296.2	145.0	-45.0	199
AG-21-097	529054.0	5165626	292.5	145.2	-45.0	217

Alkin-Glade

The Alkin-Glade trend is located at the contact between a Nipissing intrusion and sedimentary rocks. The structure hosts two significant zones of mineralization – the historic Alkin Mine and the Glade showings. In the Glade area, Ontario Geological Survey maps and historical exploration identified a broad zone of disruption, alteration, deformation and mineralization that extend over a strike length of 300 m. High-grade gold in quartz veins was reported historically. Many old trenches, now overgrown with vegetation, are the only evidence of the 1930s and 1940s exploration work done at Glade with gold mineralization still exposed at the Glade East and Glade West showings.

The historical Alkin gold mine is located 2.3 km W-NW of the Glade showings. At the Alkin mine, gold mineralization occurs as a network of quartz veins hosted in the felsic phase of the Nipissing Diabase intrusion that also hosts the Glade showings. Reconnaissance work by the Ontario Geological Survey reported gold assays up to 38.8 g/t gold in grab samples taken from the veins exposed at the Alkin Mine (OFR 5771). The reader is cautioned that grab samples are selective by nature and do not represent the actual grade of the targeted mineralization. In addition, the reader is cautioned that the qualified person has not done enough work to validate the accuracy of the historical results.

MacDonald Mines’ drilling in the Glade area was centered on the Glade West Showing identified in the 1930s and 1940s and prospected by MacDonald Mines in 2019 where grab samples returned up to 18.53 g/t gold (see October 1, 2019 News Release). The reader is cautioned that grab samples are selective by nature and do not represent the actual grade of the targeted mineralization.

Diamond drilling under the Glade West Showing in holes AG-21-096 and AG-21-097 revealed a large alteration and mineralization system where shear-hosted quartz veins are surrounded by networks of gold mineralized, multidirectional and variably spaced quartz tension veins concentrated in the Nipissing intrusion. Visible gold was observed in many of the quartz veins in both holes AG-21-096 and AG-21-097. In AG-21-097, one of those veins contained significant amounts of visible gold (Picture 1).

Picture 1. Visible gold in hole AG-21-097
https://www.globenewswire.com/NewsRoom/AttachmentNg/885aedf9-9bd5-4009-94cf-1536891fb10e

In some of the quartz veins, visible gold is associated with iron-rich chlorite alteration emplaced and crosscutting the quartz veins. This association between gold and iron-rich chlorite observed at the Glade West Showing is similar to the association between iron-chlorite and gold at the Scadding Deposit. The potential relationship between the mineralization observed at Glade and the Scadding Deposit, located 800 m north, could represent a considerable extension to that mineralized system.

Jovan
MacDonald completed eleven (11) holes (JV-21-084 to JV-21-094) for a total of over 3,187 m at Jovan to test the polymetallic potential of the area. The drilling targets were selected based on favourable geology, proximity to or spatial association with known mineralization at surface and sizeable geophysical responses detected by the IP survey. Drilling occurred principally in the Ess Creek Deformation Zone and the Palkovits Structure.

In the Ess Creek Deformation Zone, holes JV-21-084, JV-21-085 and JV-21-088 targeted a broad zone of low resistivity detected by the IP survey that is spatially overlapping a positive magnetic anomaly as well as surface sulphide and iron-oxide mineralization with cobalt, copper and nickel. Drilling confirmed that the sulphide and iron-oxide mineralization does extend at depth and that it corresponds with the zone of low resistivity that was detected by the IP survey.

Hole JV-21-084 shows anomalous nickel with elevated palladium associated with sulphide mineralization. In addition, drilling identified many discrete shear and fault zones in the Ess Creek Deformation Zone that are mineralized with precious metal, including an intersection of high-grade silver mineralization in a fault seam in JV-21-088.

Holes JV-21-086 and JV-21-087 targeted the lateral extension of the structural zones intersected in holes JV-21-084 and JV-21-085. Both holes intersected anomalous gold in mineralized structures of the Ess Creek Corridor associated with concentrations of arsenopyrite and pyrite in albitized intrusive and sedimentary rocks.

Upcoming Webinar
MacDonald Mines is providing an opportunity for shareholders and other interested parties to participate in a webinar on Tuesday, May 18, 2021, at 4:00 pm EDT. Click on the following link https://zoom.us/webinar/register/WN_dhhztDsGQk6pO4b_LQVSPA to register. After registering, you will receive a confirmation email containing information about joining the webinar.

Qualified Person
Jean-François Montreuil, P.Geo., Chief Geologist of MacDonald Mines, is the qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, responsible for preparing, supervising, and approving this news release's scientific and technical content.

On-site Quality Assurance/Quality Control (“QA/QC”) Measures
Drill core samples were transported in security sealed bags for analyses to Actlabs in Ancaster, Ontario. Individual samples are labelled, placed in plastic sample bags and sealed. Groups of samples are then placed into durable rice bags and then shipped. The samples transported to Actlabs were dropped in rice bags with security seals by Manitoulin Transport. The remaining coarse reject portions of the samples remain in storage if further work or verification is needed.

MacDonald Mines has implemented a quality-control program to comply with best practices in the sampling and analysis of drill core. As part of its QA/QC program, the Company inserts external gold standards (low to high grade) and blanks every 20 samples in addition to random standards, blanks, and duplicates. All samples over 10 g/t gold or the samples with abundant visible gold are analyzed using a 1-kilogram metallic screen. Check assays are routinely performed for samples with visible gold to ascertain the gold content of the mineralization zone.

COVID-19 Precautions
MacDonald Mines has developed and implemented precautions and procedures that are compliant with Ontario’s health guidelines. Strict protocols are in place to ensure the safety of all staff and contractors, thereby reducing the potential for community contact and spreading of the virus.

About MacDonald Mines Exploration Ltd.
MacDonald Mines Exploration Ltd. is a mineral exploration company headquartered in Toronto, Ontario that trades on the TSX Venture Exchange under the symbol "BMK".

The Company is focused on developing its 100%-owned SPJ Project in Northern Ontario. Following up on its successful 2019/20 exploration and drilling campaigns, MacDonald Mines is focused on what it theorizes to be a large gold system at work on the 18,340 ha property with high-grade gold surrounding the past-producing Scadding Gold Mine and gold/polymetallic mineralization over several kilometres around it.

To learn more about MacDonald Mines, please visit www.macdonaldmines.com

For more information, please contact:

Mia Boiridy, President & CEO, (250) 575-3305, mboiridy@macdonaldmines.com

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

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

Pilot Program Has Processed 13 Metric Tonnes of Battery Graphite

Feasibility Study Underway with Samuel Engineering

Exploration and Development Drill Program Underway at Coosa Graphite Deposit

Westwater Resources, Inc. (NYSE American: WWR), an explorer and developer of U.S. mineral resources essential for batteries for energy storage, today announced its results for the quarter ended March 31, 2021.

"As I mentioned in our 2020 year-end earnings release in February, we had an immensely successful 2020, and I am very proud to state the first quarter ended March 31, 2021 has continued this trend," said Chris Jones, CEO of Westwater Resources. "The President signed a declaration naming graphite critical to the safety and security of the United States. We believe this declaration, and the actions expected to follow it, will have a significant positive impact on our ability to develop and build our graphite business."

"The definitive feasibility study for the Coosa Graphite Project processing facility is underway and, when completed at mid-year 2021, will provide detailed specifications and inform the detailed engineering work we need to execute prior to construction," Jones continued. "This design work is expected to be used to start construction of the plant toward the end of 2021. At this time, we have processed over 13 metric tonnes of our battery product material during our pilot program, and the three products we produced can go to potential customers for testing."

"Exploration and development drilling on the Coosa Graphite Deposit began in April 2021," Jones concluded. "We are expanding our knowledge of the graphite deposit with this 10,000-foot program. Assays for both graphite and vanadium, an important alloy material for high strength and tool steels, will be performed and integrated into our geologic model, then used to re-optimize the extraction of the resource and re-estimate the deposit economics. I’m thrilled with the progress we’re making, none of which could have been accomplished without the hard work of our dedicated and innovative management team and drilling contractor.

Financial Summary

($ in 000's, Except Per Share)	Q1 2021	Q1 2020	Variance
Net Cash Used in Operations	$(4,850)	$(3,455)	40%
Product Development Expenses	$(1,823)	$(126)	n/m
General and Administrative Expenses*	$(2,084)	$(1,779)	17%
Arbitration Costs	$(1,532)	$(669)	129%
Net Loss	$(5,390)	$(3,287)	64%
Net Loss Per Share	$(0.19)	$(0.82)	-77%
Avg. Weighted Shares Outstanding	28,597,938	4,004,948	614%
* General and Administrative Expenses for the three months ended March 31, 2020, includes $417 thousand of expense attributable to discontinued operations.

Net Cash Used in Operations. Net cash used in operating activities was $4.9 million for the three months ended March 31, 2021, as compared with $3.5 million for the same period in 2020. The $1.4 million increase in cash used was primarily due to increased graphite product development expenses, general and administrative expenses, and arbitration costs in 2021 compared to 2020, offset by the elimination of costs from discontinued operations and an increase in cash from working capital items of $0.6 million.
Product Development Expenses. For the three-month period ended March 31, 2021, $1.8 million was spent on product development. Of that, approximately $1.2 million related to the operation of our graphite processing pilot program with the remaining attributable to product testing and other lab work, shipping, travel, and other auxiliary costs associated with the Coosa Graphite Project.
General and Administrative Expenses. For the three months ended March 31, 2021 general and administrative expenses increased by $0.3 million from the respective period in 2020. The difference is primarily due to increased legal and consulting expenses related to the Company’s Coosa Graphite Project.
Arbitration Costs. During the first quarter of 2021, Westwater incurred arbitration related legal and expert consulting costs of $1.5 million. This represents an increase of 114% or $0.8 million in costs associated with the Request for Arbitration against The Republic of Turkey compared to the first quarter of 2020.
Net Loss. Our consolidated net loss for the three months ended March 31, 2021 was $5.4 million, or $0.19 per share, as compared with a consolidated net loss of $3.3 million, or $0.82 per share for the same period in 2020. The $2.1 million increase in our consolidated net loss from the respective prior period was largely the result of an increase in product development costs, general and administrative costs and arbitration costs, offset by the elimination of $1.1 million in costs from discontinued operations.
Cash and Working Capital. On March 31, 2021 the Company’s cash balances were $117.9 million and the Company had working capital of $115.1 million, which represented an increase of $66.8 million from a working capital balance of $48.3 million at December 31, 2020. This increase in working capital was primarily the result of a higher cash balance from the sale of shares of common stock for net proceeds of $72.2 million pursuant to our Controlled Equity Offering^SM Sales Agreement with Cantor Fitzgerald & Co. and our Purchase Agreement with Lincoln Park Capital, LLC.
Shares Outstanding. Total shares outstanding are 32,336,315 as of May 12, 2021.

Conference Call & Webcast

The Company will hold a conference call to discuss its financial results for the first quarter ended March 31, 2021, and the results of business activities during the first quarter, on Thursday, May 13, 2021 at 11:00 AM EDT (9:00 AM MDT and 8:00 AM PDT).

During the call, in addition to financial results, management will discuss the company’s progress at its Coosa Graphite Project in Coosa, AL, recent milestones at its pilot plant and the President’s February 24, 2021 Executive Order that seeks to provide for more resilient supply chains to revitalize and rebuild domestic manufacturing capacity.

DIAL-IN-NUMBERS:

+1 (800) 319-4610 (US and Canada)
+1 (604) 638-5340 (international)
Conference ID: Westwater Resources Conference Call

Replay Numbers

+1 (855) 669-9658 (US and Canada)
+1 (412) 317-0088 (international)
Replay access code 6297

Hosting the call will be Christopher M. Jones, President and Chief Executive Officer of Westwater Resources, who will be joined by Jeffrey L. Vigil, Vice President-Finance and Chief Financial Officer, and Dain McCoig, Vice President of Operations. Mr. Jones will present an update on the Company’s business position, including an update on the Coosa Graphite Project and a review of the operations of the pilot program. Mr. Vigil will review the financial results and financial condition of the Company. Mr. McCoig will be available for questions as part of the call.

The conference call presentation will also be available via a live web cast through the Company’s website, www.westwaterresources.net.

About Westwater Resources

Westwater Resources (NYSE American: WWR) is focused on developing battery-grade graphite. The Company’s projects include the Coosa Graphite Project — the most advanced natural flake graphite project in the contiguous United States — and the associated Coosa Graphite Deposit located across 41,900 acres (~17,000 hectares) in east-central Alabama. For more information, visit www.westwaterresources.net.

Cautionary Statement

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as "expects," "estimates," "projects," "anticipates," "believes," "could," "scheduled," and other similar words. All statements addressing events or developments that WWR expects or anticipates will occur in the future, including but not limited to the commencement of operations at the Company’s proposed pilot program facilities, future production of battery graphite products, future financing activities and financial resources, and activities involving the Coosa Graphite Project and the Coosa Graphite Deposit. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties include, but are not limited to, (a) the Company’s ability to successfully operate a pilot program capable of producing battery grade materials in quantities and on schedules consistent with the Coosa Graphite Project business plan; (b) the Company’s ability to raise additional capital in the future including the ability to utilize existing financing facilities; (c) spot price and long-term contract price of graphite and vanadium; (d) risks associated with our operations and the operations of our partners such as Dorfner Anzaplan and Samuel Engineering, including the impact of COVID-19 and its potential impacts to the capital markets; (e) operating conditions at the Company’s projects; (f) government regulation of the graphite industry and the vanadium industry; (g) world-wide graphite and vanadium supply and demand, including the supply and demand for energy storage batteries; (h) unanticipated geological, processing, regulatory and legal or other problems the Company may encounter in the jurisdictions where the Company operates or intends to operate, including but not limited to Alabama and Colorado; (i) any graphite or vanadium discoveries not being in high-enough concentration to make it economic to extract the minerals; (j) currently pending or new litigation or arbitration; and (k) other factors which are more fully described in the Company’s Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q, and other filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize or should any of the Company’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on the Company’s forward-looking statements. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this news release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210513005293/en/

Contacts

Westwater Resources

Christopher M. Jones, President & CEO
Phone: 303.531.0480
Jeff Vigil, VP Finance & CFO
Phone: 303.531.0481
Email: Info@WestwaterResources.net

Investor Relations
Porter, LeVay & Rose
Michael Porter, President
Phone: 212.564.4700
Email: Westwater@plrinvest.com

Product Sales Contact
Jay Wago, Vice President – Sales and Marketing
Phone: 303.531.0472
Email: Sales@westwaterresources.net

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. By way of example, Zenith Minerals (ASX:ZNC) has seen its share price rise 272% over the last year, delighting many shareholders. Nonetheless, only a fool would ignore the risk that a loss making company burns through its cash too quickly.

So notwithstanding the buoyant share price, we think it's well worth asking whether Zenith Minerals' cash burn is too risky. In this report, we will consider the company's annual negative free cash flow, henceforth referring to it as the 'cash burn'. The first step is to compare its cash burn with its cash reserves, to give us its 'cash runway'.

View our latest analysis for Zenith Minerals

How Long Is Zenith Minerals' Cash Runway?

A company's cash runway is calculated by dividing its cash hoard by its cash burn. As at December 2020, Zenith Minerals had cash of AU$4.4m and such minimal debt that we can ignore it for the purposes of this analysis. Importantly, its cash burn was AU$2.5m over the trailing twelve months. That means it had a cash runway of around 21 months as of 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. Depicted below, you can see how its cash holdings have changed over time.

How Is Zenith Minerals' Cash Burn Changing Over Time?

Whilst it's great to see that Zenith Minerals has already begun generating revenue from operations, last year it only produced AU$258k, so we don't think it is generating significant revenue, at this point. As a result, we think it's a bit early to focus on the revenue growth, so we'll limit ourselves to looking at how the cash burn is changing over time. Over the last year its cash burn actually increased by 49%, which suggests that management are increasing investment in future growth, but not too quickly. However, the company's true cash runway will therefore be shorter than suggested above, if spending continues to increase. Zenith Minerals makes us a little nervous due to its lack of substantial operating revenue. So we'd generally prefer stocks from this list of stocks that have analysts forecasting growth.

How Easily Can Zenith Minerals Raise Cash?

While Zenith Minerals does have a solid cash runway, its cash burn trajectory may have some shareholders thinking ahead to when the company may need to raise more cash. Companies can raise capital through either debt or equity. Commonly, a business will sell new shares in itself to raise cash and drive growth. We can compare a company's cash burn to its market capitalisation to get a sense for how many new shares a company would have to issue to fund one year's operations.

Zenith Minerals' cash burn of AU$2.5m is about 3.0% of its AU$82m 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.

Is Zenith Minerals' Cash Burn A Worry?

Even though its increasing cash burn makes us a little nervous, we are compelled to mention that we thought Zenith Minerals' cash burn relative to its market cap was relatively promising. Considering all the factors discussed in this article, we're not overly concerned about the company's cash burn, although we do think shareholders should keep an eye on how it develops. On another note, we conducted an in-depth investigation of the company, and identified 4 warning signs for Zenith Minerals (1 is potentially serious!) that you should be aware of before investing here.

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

TORONTO, May 13, 2021 (GLOBE NEWSWIRE) — Sparton Resources Inc. (TSXV.SRI) ("Sparton" or the "Company") announced the beginning of the 2021 field programs in Ontario and Québec, and detailed evaluation of a new poly metallic project in Ontario.

BRUELL PROJECT FIELD PROGRAM VAL D’OR EAST, QUEBEC

Eldorado Gold has initiated field work at Bruell and will continue the comprehensive till / soil survey started in 2020 that will complete coverage of the entire 51 claim property group. The 2020 program consisted of an orientation survey comprising 8 samples, and an additional 27 widely spaced samples were taken generally in the areas south and east from the Avocalon / Aurora shaft area and Area A where Sparton discovered several new gold mineralized zones in its 2018 drill program. (see Sparton News Release dated May 28, 2018). The 2021 work will provide complete coverage over the entire claim area. Eldorado will also complete detailed geological mapping of the property and may begin a drill program in the fall of 2021. The planned budget for Bruell expenditures in 2021 is $400,000.

OAKES PROJECT AREA

The Company plans a comprehensive surface prospecting and trenching program to gain additional information into the mineralizing system tested in the old shaft area. The detailed magnetic survey completed over the entire 41 claim area indicates several major structures that appear to be related to known mineralization and these will be prospected in detail and old trenches associated with them will be reopened and sampled. Prospecting in 2020 located angular boulders of mineralized green carbonate rock in the southern part of the claim area which yielded anomalous gold values. Detailed work will take place in this area as similar material occurs at the west end of open pit previously mined at the nearby Young Davidson Mine. Any favourable zones located by this work will be drill tested later this year.

COPPER – POLY METALLIC PROJECT

The Company has executed an exclusive agreement for one year to do a detailed evaluation of a property hosting an existing copper deposit contiguous to Sparton’s claim holdings in the Oakes Project area. Previously, one zone on the property was reported, effective May 2008, to host a NI 43-101 compliant drill indicated mineral resource containing 5.97 million tonnes grading 0.34%copper, 0.04% molybdenum, 5.9 grams per tonne silver and 0.10 grams per tonne gold. This report was prepared as:

NI 43-101 Technical Report On The “South Zone”, Ryan Lake Property, Powell Township Ontario” by Buss Services Inc.

This resource is open to expansion at depth and along strike. Other zones of base metal and gold mineralization are known on the property which have not been tested in detail. The Company plans to undertake a comprehensive technical data review of information available.

CAUTIONARY NOTE

It should be noted that historical results reported here for the Copper Property might be considered Historical Estimates under current NI 43-101 nomenclature, the Company believes the historical data to be reliable and has reviewed them in detail. More work needs to be done however, to verify these historical results.

Further, a qualified person under NI 43-101 has not recently done sufficient work to verify the historical results with new sampling and analyses. Because most of the original samples and drill core used for the previous calculations are however available for re-analysis and testing, these will be used as part of the evaluation work by the Company.

ABOUT THE COMPANY

Sparton is a mineral exploration company currently focused on exploring gold projects near producing mines on or near the major gold producing trends in eastern Ontario and western Québec where it holds interests in two exploration prospects. The Bruell Property in Québec, which hosts a new gold discovery, has been optioned to Eldorado Gold, which owns the nearby producing Lamaque Mine. Eldorado is planning an extensive work program during 2021 with possible drilling late in the year. The Oakes Gold Property and nearby Poly Metallic Copper Property in Ontario are the current focus of the Company’s exploration work program and are in close proximity to Alamos Gold’s producing Young Davidson Mine.

Sparton also holds an interest in VRB Energy Inc., a leading vanadium battery company that is currently private and has recently announced a contract for a 1 gigawatt storage system linked to a major new solar installation in Hubei Province China.

A. Lee. Barker M.A.Sc., P. Eng., is the Qualified Person under NI 43-101 responsible for the technical information in this news release. He has reviewed all available data for the project discussed here and approved the contents of this news release.

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

TORONTO, May 13, 2021 /PRNewswire/ – Purepoint Uranium Group Inc. (TSXV: PTU) ("Purepoint" or the "Company") today provided an overview of the exploration targets scheduled to be initially drill tested on its 100%-owned Red Willow project in the eastern uranium mine district of the Athabasca Basin, Saskatchewan Canada. By far, the Company's largest project, Red Willow is located close to several uranium deposits including Orano Resources Canada Inc.'s JEB mine, approximately 10 kilometres to the southwest, and Cameco's Eagle Point mine that is approximately 10 kilometres due south.

"The Red Willow property covers numerous high value targets over which we have performed extensive preparatory geophysical surveys and, in some instances, first pass drilling" said Chris Frostad, Purepoint's President and CEO. "Drill permits are in place and it is our intention to begin diamond drilling at this project as soon as possible."

Highlights

The 100%-owned Red Willow project consists of 17 claims totaling 40,116 hectares on the eastern side of Canada's Athabasca Basin
Purepoint is currently assembling a diamond drill program and will initially focus on the Osprey Zone
Additional priority exploration areas include – the Geneva Zone, the Radon Lake Zone, the Golden Eye Zone, Topping Island, the 333 Zone and the CBA Zone
A Technical Report on the project can be obtained from the Company's web site
A video tour of the Red Willow project can be viewed at https://youtu.be/5Rte6E3Ht7g

Osprey Zone

Drilling on the Osprey Zone conductor has discovered a lens of uranium mineralization that returned up to 0.20% eU3O8 over 5.8 metres from a shallow depth of 70 metres. The 6-kilometre long "S"-shaped Osprey conductor, host to numerous intercepts of anomalous uranium, has excellent exploration potential at depth below the known mineralized zone and towards the west.

The main mineralized zone has only been drill tested at shallow depths (average hole length < 160 metres) and is open at depth for further stacked, parallel lenses of mineralization. Favourable sedimentary rocks are also interpreted to lie immediately west of the Osprey conductor and will be targeted for uranium hosted by sub-vertical structures and sub-horizontal stacked lenses.

The fold hinge of the Osprey conductor requires further drilling after a fence of three holes by Purepoint (2008) intersected a vertical, weakly radioactive fault zone (Hinge Fault) associated with strong chlorite and hematite alteration and intervals of lost core. The fault zone returned 138 ppm U over 0.6 metres between 75.7 and 76.3 metres from hole RW-29 and 358 ppm U over 0.4 metres between 159.1 and 159.5 metres from hole RW-41. Alteration of the basement rocks increases along the northern fold limb towards the fold nose where one of the three holes drilled, RW-28, encountered strong clay alteration.

Geneva Zone

The Geneva Zone represents a priority target based on ground geophysics and first pass drilling. Historic drilling by Eldorado Resources Ltd (Eldorado) intersected very strong basement alteration and anomalous radioactivity in the Geneva Zone with RAD-27 returning 0.22% U3O8 over 1.0 metres within a graphitic fault zone. Although Eldorado completed numerous holes in the area, most were stopped at less than 100 metres into the basement rock.

Hole 14RDW008 also intersected uranium mineralization associated with the Geneva conductor returning 0.68% U3O8 over 0.3 metres at a depth of 90 metres. Follow-up drilling will continue to test the radioactive graphitic shear towards the south.

Radon Lake Zone

Gulf (1968) conducted an airborne radiometric survey that covered the Radon Lake zone and followed-up with a reconnaissance geochemical soil survey, radon-in-water survey and prospecting during 1971 and 1972. Extremely high concentrations of radon (a product of decaying uranium) were found in the surface water just west of a waterbody that Gulf named "Radon Lake". Subsequent drilling by Gulf failed to located the source of the radon-in-water anomaly.

Purepoint's first pass diamond drill hole RAD08-09 returned 283 ppm U over 1.1 metres from sandstone just above the unconformity. The offset conductors within the Radon Lake area are suggestive of structural complexity and additional drilling here is considered warranted.

Golden Eye Zone

The Golden Eye target area hosts interpreted crosscutting faults located between two historic uranium occurrences, the FDL showing and the AJ showing. At the FDL showing, uranium mineralization is associated with a 1 metre wide, northeast trending shear zone that crosscuts an outcrop of graphitic biotite-rich pelitic gneiss. Assays from the shear zone returned trace to 1.43% U3O8.

The AJ showing was originally identified in 1977 by Canadian Superior during a regional geochemical survey. Two small lakes, located 1 kilometre apart, returned anomalous uranium concentrations in both lake water and lake bottom sediments. Follow-up prospecting led to the discovery of a large (3m by 1m) radioactive molybdenite-garnet-biotite schist subcrop that returned trace to 0.46% U3O8.

Topping Island

The Topping Island area was explored during the early 1980's after a pitchstone cobble was discovered down-ice of the arcuate shaped EM conductor. The Topping Island conductor appears to be the eastern terminus of the conductive trend that hosts the Richardson Lake and Crooked Lake Zones on Denison Mines Hatchet Lake property. Denison's diamond drill program on that property intersected mineralization in drill hole RL-13-16 returning 0.45% U3O8 over 2.3 metres.

Purepoint flew a VTEM survey over Topping Island in two different directions using a close line spacing of 125 metres to provide detail of the arcuate, 6-kilometre long, EM anomaly. The results of the airborne survey will be used to plan Purepoint's initial drill program.

333 Zone

In 1975, Gulf Minerals Canada Ltd. (Gulf) carried out a regional, reverse circulation (RC) overburden drilling program across most of the eastern Athabasca Basin. Over 350 overburden holes were drilled with the most anomalous hole being located on the Red Willow property; hole #333 returning an assay of 0.31% U3O8. Gulf recommended additional RC drilling to trace the uranium-rich overburden to its source, but that follow-up work was not completed.

Based on geophysical results performed by Purepoint, the source of the anomalous till may be a newly outlined EM conductor that lies only 200 metres northeast of drill hole #333. The strong conductor trends north-south, is 1.1 kilometres in length and appears to be crosscut by a northeast trending fault.

CBA Zone

In 1980, CanLake Explorations Ltd. drilled 14 holes (CBA-03 to 10 and CBA-15 to 20) in the northeast area of the Red Willow project. Favourable mineralization was intersected in the last hole of the program with hole CBA-20, located at the fold nose of a granitic dome and sedimentary rock contact, returning 0.17% U3O8 over 0.8 metres before being lost at a depth of 20 metres.

Red Willow Project

The 100% owned Red Willow property is situated on the eastern edge of the Athabasca Basin in Northern Saskatchewan, Canada and consists of 17 mineral claims having a total area of 40,116 hectares. The property is located close to several uranium deposits including Orano Resources Canada Inc.'s JEB mine, approximately 10 kilometres to the southwest, and Cameco's Eagle Point mine that is approximately 10 kilometres due south.

Geophysical surveys conducted by Purepoint at Red Willow have included airborne magnetic and electromagnetic (VTEM) surveys, an airborne radiometric survey, ground gradient array IP, pole-dipole array IP, fixed-loop and moving-loop transient electromagnetics, and gravity. The detailed airborne VTEM survey provided magnetic results that are an excellent base on which to interpret structures while the EM results outlined over 70 kilometres of conductors that in most instances represent favourable graphitic lithology. A total of twenty-one conductive zones have been identified as priority exploration targets of which only seven have been subject to first pass drilling.

Annual General Meeting

The Company also announced today that it has scheduled a virtual annual and special meeting of shareholders (the "Meeting") on June 24, 2021 at 10:00 am (ET). The Company's board of directors has set May 10, 2021 as the record date for determining the shareholders entitled to receive notice and vote at the Meeting.

In addition to the annual general meeting matters relating to the election of the board of directors of the Company and the appointment of the Company's auditor for the ensuing year, the Company will be seeking shareholders' approval for: (a) continuation of the Company's rolling stock option plan, (b) renewal of the Company's shareholder rights plan, (c) confirmation of the repeal of the Company's outdated By-Law No. 1 which was initially adopted by the Company's predecessor entity in 2004 and the adoption of the Company's new By-Law No. 2 which better reflects the Company's current corporate practice, (d) all acts of directors and officers of the Company, and (e) authorization of the board of directors, in their sole discretion if deemed in the best interest of the Company, within two (2) years from the Meeting date, to implement a consolidation of all of the issued and outstanding Common Shares of the Company on the basis of a consolidation ratio to be selected by the board of directors within a range between two (2) pre-consolidation Common Shares for one (1) post-consolidation Common Share and ten (10) pre-consolidation Common Shares for one (1) post-consolidation Common Share.

Please note that the board of directors of the Company has no present intention to implement a share consolidation but believes that it would be prudent to have the necessary shareholder authorization in place should the board determine at some point in the following two-year period that a share consolidation would be in the best interest of the Company. The decision to seek authorization from the shareholders for a share Consolidation was taken by the board after careful consideration of a number of factors, including market activity, access to institutional investors, prospective broadening of international investor interest in the Company, and if advisable, the structuring of potential future financings with strategic investors. If the proposed share consolidation is approved by the shareholders at the Meeting and the board decides to implement a share consolidation in the prescribed period, the Company is required to obtain the approval of the TSXV prior to implementing the share consolidation.

The details of the meeting matters will be provided in the management information circular for the Meeting to be made available to the shareholders of the Company and to be filed on SEDAR at www.sedar.com on or around May 18, 2021.

Options

The Company today approved the issuance of a total of 8,400,000 options to its Board of Directors, management and certain staff members pursuant to the Company's stock option plan. The options vest immediately, are exercisable at a price of $0.13 per common share and expire on a date that is five years from the date of grant.

About Purepoint

Purepoint Uranium Group Inc. (TSXV: PUC) 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.

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.

Cision

View original content to download multimedia:http://www.prnewswire.com/news-releases/purepoint-uranium-provides-overview-of-red-willow-project-targets-for-upcoming-diamond-drill-program-301290401.html

SOURCE Purepoint Uranium Group Inc.

The big shareholder groups in Gem Diamonds Limited (LON:GEMD) have power over the company. 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.

Gem Diamonds is not a large company by global standards. It has a market capitalization of UK£98m, which means it wouldn't have the attention of many institutional investors. Our analysis of the ownership of the company, below, shows that institutions are noticeable on the share registry. Let's take a closer look to see what the different types of shareholders can tell us about Gem Diamonds.

See our latest analysis for Gem Diamonds

What Does The Institutional Ownership Tell Us About Gem Diamonds?

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 Gem Diamonds. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. When such a trade goes wrong, multiple parties may compete to sell stock fast. This risk is higher in a company without a history of growth. You can see Gem Diamonds' historic earnings and revenue below, but keep in mind there's always more to the story.

It would appear that 36% of Gem Diamonds shares are controlled by hedge funds. That worth noting, since hedge funds are often quite active investors, who may try to influence management. Many want to see value creation (and a higher share price) in the short term or medium term. Our data shows that Sustainable Capital Ltd is the largest shareholder with 22% of shares outstanding. In comparison, the second and third largest shareholders hold about 15% and 14% of the stock.

After doing some more digging, we found that the top 3 shareholders collectively control more than half of the company's shares, implying that they have considerable power to influence the company's decisions.

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. Quite a few analysts cover the stock, so you could look into forecast growth quite easily.

Insider Ownership Of Gem Diamonds

While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. 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.

Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances.

Our most recent data indicates that insiders own less than 1% of Gem Diamonds Limited. We do note, however, it is possible insiders have an indirect interest through a private company or other corporate structure. It appears that the board holds about UK£233k worth of stock. This compares to a market capitalization of UK£98m. I generally like to see a board more invested. However it might be worth checking if those insiders have been buying.

General Public Ownership

The general public, with a 18% stake in the company, will not easily be ignored. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run.

Private Company Ownership

We can see that Private Companies own 22%, of the shares on issue. It's hard to draw any conclusions from this fact alone, so its worth looking into who owns those private companies. Sometimes insiders or other related parties have an interest in shares in a public company through a separate private company.

Next Steps:

I find it very interesting to look at who exactly owns a company. But to truly gain insight, we need to consider other information, too. Consider for instance, the ever-present spectre of investment risk. We've identified 3 warning signs with Gem Diamonds (at least 1 which is potentially serious) , and understanding them should be part of your investment process.

Ultimately the future is most important. You can access this free report on analyst forecasts for the company.

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

Vancouver, British Columbia and Johannesburg, South Africa–(Newsfile Corp. – May 13, 2021) – Platinum Group Metals Ltd. (TSX: PTM) (NYSE American: PLG) ("Platinum Group" or the "Company") has received notice that a group from the Kgatlu Community (the "Applicants"), located near planned surface infrastructure associated with the Waterberg Mine, has filed an application for an order in the High Court of South Africa (the "High Court") to review and set aside the decision by the Minister of Environment, Forestry and Fisheries (the "DE") to dismiss an application for condonation for the late filing of an appeal by the Applicants against the Environmental Authorization granted for the Waterberg Mine on November 10, 2020. The Applicants further request that cause be shown as to why the Environmental Authorization granted by the Minister of the DE and the Minister of Mineral Resources and Energy (the "DMR") should not be set aside and referred back to the said ministers for further consideration. The grant of an Environmental Authorization was a prerequisite to the grant of the Waterberg Mining Right by the DMR, which occurred on January 28, 2021. The Company believes that all requirements specified under the National Environmental Management Act, the Mineral and Petroleum Resources Development Act and other applicable legislation has been complied with and that the DE correctly approved and DMR correctly issued the Environmental Authorization. As an interested and affected party, and as a named respondent to the filed court action, Waterberg JV Resources (Pty) Ltd is accordingly opposing the application to the High Court. The Waterberg mining right currently remains active, was notarially executed by the DMR on April 13, 2021 and has been filed for registration.

The Company intends to continue our consultation with the DMR and recognized local authorities and community representatives on our plans for the Waterberg site.

About Platinum Group Metals Ltd. and Waterberg Project

Platinum Group Metals Ltd. is the operator and majority owner of the Waterberg Project, a bulk underground palladium, platinum, gold and rhodium deposit located in South Africa. The Waterberg Project was discovered by Platinum Group and is being jointly advanced with the shareholders of Waterberg JV Resources (Pty) Ltd. ("Waterberg JV Co."), being Platinum Group, Impala Platinum Holdings Ltd., Japan Oil, Gas and Metals National Corporation, Hanwa Co. Ltd. and Mnombo Wethu Consultants (Pty) Ltd. ("Mnombo").

In 2019, the Company founded Lion Battery Technologies Inc. in partnership with Anglo American Platinum Limited to support the use of palladium and platinum in lithium battery applications.

On behalf of the Board of
Platinum Group Metals Ltd.

R. Michael Jones
President and CEO

For further information contact:
R. Michael Jones, President
or Kris Begic, VP, Corporate Development
Platinum Group Metals Ltd., Vancouver
Tel: (604) 899-5450 / Toll Free: (866) 899-5450
www.platinumgroupmetals.net

Disclosure

The Toronto Stock Exchange and the NYSE American have not reviewed and do not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management.

The recent COVID-19 pandemic and related measures taken by government create uncertainty and have had, and may continue to have, an adverse impact on many aspects of the Company's business, including employee health, workforce productivity and availability, travel restrictions, contractor availability, supply availability, the Company's ability to maintain its controls and procedures regarding financial and disclosure matters and the availability of capital and insurance and the costs thereof, some of which, individually or when aggregated with other impacts, may be material to the Company.

This press release contains forward-looking information within the meaning of Canadian securities laws and forward-looking statements within the meaning of U.S. securities laws (collectively "forward-looking statements"), including statements regarding the application for an order of the High Court and appeal of the mining right; the applicable procedures, timeline and potential results thereof; the development of the Waterberg project and the potential benefits and results thereof; the Company's intentions for future consultations; the potential use of palladium and platinum in lithium battery applications; and the Company's other future plans and expectations. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Although the Company believes any forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct.

The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including possible adverse impacts due the global outbreak of COVID-19 (as described above), the Company's inability to generate sufficient cash flow or raise sufficient additional capital to make payment on its indebtedness, and to comply with the terms of such indebtedness; additional financing requirements; the US $20 million senior secured facility with the Sprott Private Resource Lending II (Collector), LP ("Sprott") entered into August 21, 2019 (the "2019 Sprott Facility") is, and any new indebtedness may be, secured and the Company has pledged its shares of Platinum Group Metals (RSA) (Pty) Ltd. ("PTM RSA"), and PTM RSA has pledged its shares of Waterberg JV Co. to Sprott, under the 2019 Sprott Facility, which potentially could result in the loss of the Company's interest in PTM RSA and the Waterberg Project in the event of a default under the 2019 Sprott Facility or any new secured indebtedness; the Company's history of losses and negative cash flow; the Company's ability to continue as a going concern; the Company's properties may not be brought into a state of commercial production; uncertainty of estimated production, development plans and cost estimates for the Waterberg Project; discrepancies between actual and estimated mineral reserves and mineral resources, between actual and estimated development and operating costs, between actual and estimated metallurgical recoveries and between estimated and actual production; fluctuations in the relative values of the U.S. Dollar, the Rand and the Canadian Dollar; volatility in metals prices; the uncertainty of alternative funding sources for Waterberg JV Co.; the Company may become subject to the U.S. Investment Company Act; the failure of the Company or the other shareholders to fund their pro rata share of funding obligations for the Waterberg Project; any disputes or disagreements with the other shareholders of Waterberg JV Co. or Mnombo; the ability of the Company to retain its key management employees and skilled and experienced personnel; conflicts of interest; litigation or other administrative proceedings brought against the Company, including the appeal of the mining right; an adverse decision on the appeal on the Mining Right could delay or prevent the Company from having the mining right reinstated and developing the Waterberg Project; actual or alleged breaches of governance processes or instances of fraud, bribery or corruption; exploration, development and mining risks and the inherently dangerous nature of the mining industry, and the risk of inadequate insurance or inability to obtain insurance to cover these risks and other risks and uncertainties; property and mineral title risks including defective title to mineral claims or property; changes in national and local government legislation, taxation, controls, regulations and political or economic developments in Canada and South Africa; equipment shortages and the ability of the Company to acquire necessary access rights and infrastructure for its mineral properties; environmental regulations and the ability to obtain and maintain necessary permits, including environmental authorizations and water use licences; extreme competition in the mineral exploration industry; delays in obtaining, or a failure to obtain, permits necessary for current or future operations or failures to comply with the terms of such permits; risks of doing business in South Africa, including but not limited to, labour, economic and political instability and potential changes to and failures to comply with legislation; the Company's common shares may be delisted from the NYSE American or the Toronto Stock Exchange if it cannot maintain compliance with the applicable listing requirements; and the other risk factors described in the Company's Form 20-F annual report, annual information form and other filings with the Securities and Exchange Commission and Canadian securities regulators, which may be viewed at www.sec.gov and www.sedar.com, respectively.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/84003

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What Does The Institutional Ownership Tell Us About Compass Minerals International?

Insider Ownership Of Compass Minerals International

General Public Ownership

Next Steps:

Understanding Return On Capital Employed (ROCE)

What Does the ROCE Trend For Baxter International Tell Us?

The Key Takeaway

How Do You Calculate Return On Equity?

Why Is ROE Important For Earnings Growth?

Fresnillo's Earnings Growth And 10% ROE

Is Fresnillo Using Its Retained Earnings Effectively?

Summary

What Is Insider Selling?

The Last 12 Months Of Insider Transactions At Silver City Minerals

Insider Ownership

What Might The Insider Transactions At Silver City Minerals Tell Us?

How Long Is Eastern Platinum's Cash Runway?

Is Eastern Platinum's Revenue Growing?

How Hard Would It Be For Eastern Platinum To Raise More Cash For Growth?

How Risky Is Eastern Platinum's Cash Burn Situation?

Do Insider Transactions Matter?

The Last 12 Months Of Insider Transactions At Bitterroot Resources

Insider Ownership

What Might The Insider Transactions At Bitterroot Resources Tell Us?

What Does The Institutional Ownership Tell Us About Anglo Pacific Group?

Insider Ownership Of Anglo Pacific Group

General Public Ownership

Private Company Ownership

Next Steps:

Figure 1.

Plan map of Winter 2021 drilling at Glade

Figure 2.

Plan map of Winter 2021 drilling at Jovan

Picture 1

Visible gold in hole AG-21-097

How Long Is Zenith Minerals' Cash Runway?

How Is Zenith Minerals' Cash Burn Changing Over Time?

How Easily Can Zenith Minerals Raise Cash?

Is Zenith Minerals' Cash Burn A Worry?

What Does The Institutional Ownership Tell Us About Gem Diamonds?

Insider Ownership Of Gem Diamonds

General Public Ownership

Private Company Ownership

Next Steps:

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