For Immediate Release

Chicago, IL – May 10, 2021 – Today, Zacks Equity Research discusses Gold Mining including Franco-Nevada Corporation FNV, Northern Dynasty Minerals Ltd. NAK, Galiano Gold Inc. GAU and Gold Resource Corporation GORO.

Link: https://www.zacks.com/commentary/1515557/4-gold-stocks-to-watch-despite-gold-prices-losing-steam

The Zacks Mining – Gold industry is likely to be impacted by drop in gold prices this year and weak demand from top consumer India due to surging coronavirus cases. Vaccine rollouts and strong optimism over economic recovery has put a rein on the rallying gold prices. Notably, the yellow metal had gained 25% in 2020 riding on the back of the COVID-19 pandemic induced safe-haven demand.

Amid the uncertainty, companies like Franco-Nevada Corp., Northern Dynasty Minerals, Galiano Gold and Gold Resource Corp. are poised well backed by their strong balance sheets and initiatives to lower costs.

About the Industry

The Zacks Mining – Gold industry primarily comprises big and small companies that are engaged in gold extraction from mines of widely varying types and scale. Notably, gold mining is a long and complex process. Significant exploration and development to evaluate the size of the deposit followed by assessment of ways to extract and process the ore efficiently, safely and responsibly precedes actual mining. On average, it takes between 10-20 years for a gold mine to produce material that can be refined.

The mining, processing, development and mineral exploration activities are subject to several laws governing prospecting, development, production, taxes, labor standards and environmental regulation in various jurisdictions in which these companies operate.

What's Shaping the Future of Mining-Gold industry

Gold Loses Momentum on Prospects of Economic Recovery: Gold had an impressive run in 2020 gaining 25% primarily fueled by coronavirus pandemic. Apprehensions over global economic growth fueled safe-haven demand for the metal. Unprecedented economic stimulus and low interest rates also favored prices.

Gold even shot past the $2,000 an ounce threshold for the first time in August 2020. However, gold prices have trended lower since the start of 2021 and lost 4% of its value so far. Rising US treasury yields, increasingly positive outlook for the economic recovery and vaccine rollouts seem to have dulled its lustre.

Cost Control & Innovation to Increase Efficiency: Mining companies are major consumers of energy with around 50% of their production costs closely linked to energy prices. Meanwhile, the industry has been facing a shortage of skilled workforce that has led to a spike in wages.

Moreover, labor-related disputes can be damaging to production and revenues. Since the industry cannot control gold prices, it focuses on improving sales volume, operating cash flow and lowering unit net cash costs.

The industry participants are also opting for alternative energy sources in order to minimize fuel-price volatility and secure supply. Miners are now committed to cost-reduction strategies and digital innovation to drive operating efficiencies.

India's Worsening COVID-19 Crisis to Impact Demand: India and China together account for around 50% of consumer gold demand. Per the World Gold Council, China witnessed the highest jewelry demand in the first quarter 2021 since 2015. China's economy continues to improve from the pandemic induced slump with GDP attaining 18.3% in the first quarter, consequently demand for gold has increased as well.

Meanwhile, India is grappling with the second wave of COVID-19 infections. The country witnesses a spike in gold demand in the second half of the year due to the timing of weddings and key festivals, when buying gold is considered auspicious. This might not be the case this year as various states are imposing lockdowns to control the COVID-19 crisis. This, in turn, will impact gold demand this year.

Impending Demand and Supply Imbalance: The industry players are currently dealing with depleting resources, declining supply in old mines and lack of new mines. Also, owing to scarcity of new discoveries and depleting existing resources, miners are preferring to build up reserves through acquisitions rather than digging for new ones that are inherently risky and capital intensive.

On the demand side, use of gold across energy, healthcare and technology is on the rise. Moreover, the yellow metal has long been considered as a safe haven investment in times of financial or political uncertainty.

Emerging market central banks are turning their attention to gold after years of exposure to the U.S. dollar, and as a natural currency hedge against other reserve currencies. So, there will be an eventual demand-supply imbalance that is likely to drive gold prices, which bodes well for the industry over the long haul.

Zacks Industry Rank Indicates Dismal Prospects

The group's Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates bleak prospects in the near term. The Zacks Mining- Gold Industry, which is a 37-stock group within the broader Zacks Basic Materials Sector, currently carries a Zacks Industry Rank #249, which places it at the bottom 2% of 256 Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperforms the bottom 50% by a factor of more than 2 to 1.

Despite the bleak near-term prospects, we will present a few Mining – Gold stocks that one can retain given their growth prospects. But it's worth taking a look at the industry's shareholder returns and current valuation first.

Industry Versus Broader Market

The Mining- Gold Industry has underperformed the S&P 500 Index and the Basic Material sector in a year's time. While the stocks in the industry have collectively declined 7.5%, the S&P 500 has gained 47.0%. Meanwhile, the sector has rallied 72.5%.

Industry's Current Valuation

On the basis of forward 12-month EV/EBITDA ratio, which is a commonly used multiple for valuing gold-mining companies, we see that the industry is currently trading at 5.06X compared with the S&P 500's 15.80X and the Basic Material sector's forward 12-month EV/EBITDA of 4.51X.

Over the last five years, the industry has traded as high as 9.40X and as low as 4.63X, with median being at 6.78X.

4 Mining-Gold Stocks to Keep an Eye On

Northern Dynasty Minerals: Headquartered in Vancouver, Canada, the company is engaged in the exploration of mineral properties in the United States. The company's  Pebble Project in Alaska is described as "the most significant undeveloped copper and gold resource in the world."

If approved, the project would reportedly be North America's largest mining operation. Over the estimated 20 years of mining, the Pebble Project as proposed will extract approximately 70 million tons of mineralized material annually at the extremely low strip ratio of 0.12:1.

The Zacks Consensus Estimate for earnings for fiscal 2021 has moved up 11% over the past 60 days. The Zacks Consensus Estimate for the bottom line is currently at a loss of 8 cents per share, narrower than the prior-year's loss of 10 cents per share. The company currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

Franco-Nevada Corp.: Based in Toronto, Canada, the company operates as a gold-focused royalty and stream company in the United States, Latin America, Canada, Australia, Europe, and Africa, and internationally. Franco-Nevada appears to be on a promising long-term trajectory backed by a healthy portfolio of streaming and royalty agreements on many properties mined by some of the most reputable mining companies in the world.

One of the inherent strengths of its business model is the diversification of portfolio. Franco-Nevada has recently acquired 14.7% of Vale S.A's (VALE) outstanding Participating Debentures and accumulated a 9.9% equity investment in Labrador Iron Ore Royalty Corporation.

Both investments provide exposure to mines producing high grade iron ore products. The two transactions further diversify Franco-Nevada's asset, geographic and operator mix. Also, given its continued focus on cost management, the company continues to generate high margins.

It has a long-term estimated earnings growth rate of 4%. The Zacks Consensus Estimate for earnings for fiscal 2021 has been revised upward by 5% over the past 60 days. The consensus mark indicates year-over-year growth of around 20%. The company has a trailing four-quarter earnings surprise of 17.5%, on average. Shares of the company, which carries a Zacks Rank #3 (Hold), have gained 2.7% over the past three months.

Galiano Gold: Headquartered in Vancouver, Canada, Galiano Gold Inc. engages in the exploration, development, and production of gold properties. Its primary asset is the Asanko Gold Mine located in Ghana, West Africa. The mine has exceeded annual production guidance for a second consecutive year in 2020.

The company had initiated exploration activity at the Asumura property in Ghana and acquired exploration properties in Mali. The company now has two greenfield projects, both of which are located in prospective geological regions.

The company has a trailing four-quarter earnings surprise of 233%, on average. The Zacks Consensus Estimate for the company's fiscal 2021 have moved up 28% over the past 60 days. Shares of the company, which carries a Zacks Rank #3, have gained 1.5% in the past six months.

Gold Resource Corp.: Headquartered in Denver, CO, Gold Resource Corporation explores, develops, produces, and sells gold and silver in Mexico and the United States. The company's focus is on unlocking the value of the Don David Gold Mine mine, existing infrastructure, and large property position. It has plans to make significant investments in Oaxaca, Mexico for infrastructure and exploration in 2021.

The majority of the exploration work is expected to be spent on drilling and exploration drifts at the Aguila project with the objective to increase the estimate of proven and probable reserves. Metal production is expected to come in slightly higher compared to 2020 as the company has been focusing on operational excellence and driving improved operating margins.

The Zacks Consensus Estimate for the company's 2021 earnings has moved north by 250% over the past 60 days. The Zacks Consensus estimate for earnings is currently pegged at 14 cents per share, against the prior-year quarter's loss of 9 cents per share. The company carries a Zacks Rank #3.

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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.

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FrancoNevada Corporation (FNV) : Free Stock Analysis Report
 
Gold Resource Corporation (GORO) : Free Stock Analysis Report
 
Northern Dynasty Minerals, Ltd. (NAK) : Free Stock Analysis Report
 
Galiano Gold Inc. (GAU) : Free Stock Analysis Report
 
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Zacks Investment Research

2021 Acquisition of regional WorldView spectral data, re-processing of geophysical and geochemical datasets

VANCOUVER, British Columbia, May 10, 2021 (GLOBE NEWSWIRE) — ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today provided an exploration update for ValOre’s 100%-owned Angilak Property Uranium Project (“Angilak”), located in Nunavut Territory, Canada.

“Angilak represents a world-class advanced uranium exploration project with tremendous upside potential,” stated ValOre’s Vice President Exploration, Colin Smith. “Hosting one of the world’s highest-grade uranium resources with favorable metallurgy, and in a vastly-underexplored uranium-rich district, we aim to add tangible value to future exploration programs through the acquisition and interpretation of WorldView spectral data, re-processing the substantial geophysical and geochemical datasets, and a subsequent integrated targeting review for the entire project.”

Angilak Uranium Project Highlights

The 49,619-hectare Angilak Property is situated in the mining- and exploration-friendly Nunavut Territory, Canada, and has district-scale potential for uranium, precious and base metals. Since acquisition, ValOre has invested over C$55 million on resource delineation and exploration drilling (89,572 metres in 589 drill holes), metallurgy, geophysics, geochemistry, and logistics across the large land package. This work supported the development of the significant Lac 50 Trend NI 43-101 inferred resource estimate (“Lac 50”).

The Lac 50 NI 43-101 Technical Report (effective date March 1, 2013) defined an inferred resource estimate which represents Canada’s highest-grade uranium resource outside of Saskatchewan, and one of highest-grade uranium resources on a global basis. Highlights include:

• 43.3 million pounds U₃O₈ in 2,831,000 tonnes grading 0.69% U₃O₈. CLICK HERE for a summary table of the Lac 50 Trend inferred resource estimate;

• Supported by 351 resource delineation drill holes totaling 62,023 metres (“m”);

• Metallurgical results for Lac 50 demonstrate high uranium recoveries and rapid leach kinetics. See news releases: February 28, 2013, September 11, 2013 and February 27, 2014;

• Lac 50 Trend is a 15 kilometre (“km”) by 3 km area with excellent potential for resource growth and new discoveries;

• Uranium mineralization starts at surface, and has been drilled to 400 m vertical depth;

• Upside exploration potential includes 11 pre-resource targets with high-grade uraniferous drill intercepts on parallel structures outside the current resource area.

The broader Angilak Property represents a district-scale opportunity, with ValOre’s land position covering 55 km of the margin of the highly prospective Angikuni Basin. The planned targeting work in 2021 could have significant impact on future exploration, discovery, and resource expansion programs.

CLICK HERE for ValOre’s May 6, 2021 video summarizing the highlights of Angilak.

CLICK HERE for ValOre’s May 6, 2021 video reviewing the 2021 focus for Angilak.

Q2 2021 Exploration Plans to Drive Property-Wide Targeting and Future Discoveries

WorldView Spectral Data Acquisition

ValOre is acquiring 466 km² (46,600 hectares) of new WorldView spectral data and high-spatial resolution imagery covering 100% of the high-priority targets and prospective basin-margin at the Angilak Property in Nunavut Territory, Canada. The WorldView-3 (“WV-3”) satellite provides the highest-resolution commercially available satellite imagery in the world, capturing data to a 50-cm pixel size, with both Visible-Near-Infrared (“VNIR”) and Short-Wave-Infrared (“SWIR”) spectra. This enables regional spectral mapping of prospective geology, alteration, and mineralogy at a “boulder-scale”. The Angilak WorldView data will augment ValOre’s extensive existing exploration dataset for Angilak, which includes district-wide geochemistry, geophysics, geological mapping and over 89,000 m of drilling.

Geophysics and Geochemistry

Together with WorldView spectral data acquisition, ValOre is re-processing historical Angilak geophysical and geochemical datasets. Geophysical surveys to date include district-wide airborne magnetics, airborne radiometrics, airborne time-domain electromagnetics (“TDEM”), airborne frequency-domain electromagnetics (“FDEM”), ground very low frequency electromagnetic (“VLF-EM”), ground gravity and ground seismic. Re-processed geophysical data will provide critical exploration constraints on Lac 50 Trend resource expansion targets, pre-resource drill-confirmed uranium targets and untested geochemical anomalies throughout the Angilak Property.

The Angilak geochemical database includes downhole multielement assay data for 589 drill holes, totaling 89,572 metres (463 core holes and 126 RC holes), 897 rock samples, 3,209 conventional soils, 1,539 Enzyme Leach soils and 75 mobile metal ion (“MMI”) soil samples. ValOre’s 2021 focus will include state of the art re-processing of the extensive drill assay database, followed by an integrated targeting review for the entire district.

The application of WorldView spectral data paired with re-processed geophysical datasets at ValOre’s 100%-owned Pedra Branca Platinum Group Elements (“PGE”) Project in northeastern Brazil led to the 2020 drilling discovery at the C-04 target, which graded up to 7.95 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”) at surface and returned 2PGE+Au mineralization in three of three 2020 core drill holes. CLICK HERE for ValOre’s news release dated October 27, 2020.

About WorldView Spectra Data

CLICK HERE for ValOre’s summary of WorldView spectral data, and CLICK HERE for additional information from DigitalGlobe™ on the Hi-Res WV-3 orbiting system.

Qualified Person (QP)

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in NI 43-101 and reviewed and approved by Colin Smith, P.Geo., ValOre’s VP Exploration.

About ValOre Metals Corp.

ValOre Metals Corp. (TSX‐V: VO) is a Canadian company with a portfolio of high‐quality exploration projects. ValOre’s team aims to deploy capital and knowledge on projects which benefit from substantial prior investment by previous owners, existence of high-value mineralization on a large scale, and the possibility of adding tangible value through exploration, process improvement, and innovation.

In May 2019, ValOre announced the acquisition of the Pedra Branca Platinum Group Elements (PGE) property, in Brazil, to bolster its existing Angilak uranium, Genesis/Hatchet uranium and Baffin gold projects in Canada.

The Pedra Branca PGE Project comprises 39 exploration licenses covering a total area of 39,987 hectares (98,810 acres) in northeastern Brazil. At Pedra Branca, 5 distinct PGE+Au deposit areas host, in aggregate, a current Inferred Resource of 1,067,000 ounces 2PGE+Au contained in 27.2 million tonnes grading 1.22 g/t 2PGE+Au (see ValOre’s July 23, 2019 news release). All the currently known Pedra Branca inferred PGE resources are potentially open pittable.

Comprehensive exploration programs have demonstrated the "District Scale" potential of ValOre’s Angilak Property in Nunavut Territory, Canada that hosts the Lac 50 Trend having a current Inferred Resource of 2,831,000 tonnes grading 0.69% U₃O₈, totaling 43.3 million pounds U₃O₈. For disclosure related to the inferred resource for the Lac 50 Trend uranium deposits, please refer to ValOre's news release of March 1, 2013.

ValOre’s team has forged strong relationships with sophisticated resource sector investors and partner Nunavut Tunngavik Inc. (NTI) on both the Angilak and Baffin Gold Properties. ValOre was the first company to sign a comprehensive agreement to explore for uranium on Inuit Owned Lands in Nunavut Territory and is committed to building shareholder value while adhering to high levels of environmental and safety standards and proactive local community engagement.

On behalf of the Board of Directors,

“Jim Paterson”

James R. Paterson, Chairman and CEO

ValOre Metals Corp.

For further information about, ValOre Metals Corp. or this news release, please visit our website at valoremetals.com or contact Investor Relations at 604.653.9464, or by email at contact@valoremetals.com.

ValOre Metals Corp. is a proud member of Discovery Group. For more information please visit: discoverygroup.ca

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

This news release contains “forward-looking statements” within the meaning of applicable securities laws. Although ValOre believes that the expectations reflected in its forward-looking statements are reasonable, such statements have been based on factors and assumptions concerning future events that may prove to be inaccurate. These factors and assumptions are based upon currently available information to ValOre. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. A number of important factors including those set forth in other public filings could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the future operations of ValOre and economic factors. Readers are cautioned to not place undue reliance on forward-looking statements. The statements in this press release are made as of the date of this release and, except as required by applicable law, ValOre does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. ValOre undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of ValOre, or its financial or operating results or (as applicable), their securities.

EROAD Limited (NZSE:ERD), might not be a large cap stock, but it received a lot of attention from a substantial price increase on the NZSE over the last few months. Less-covered, small caps sees more of an opportunity for mispricing due to the lack of information available to the public, which can be a good thing. So, could the stock still be trading at a low price relative to its actual value? Today I will analyse the most recent data on EROAD’s outlook and valuation to see if the opportunity still exists.

Check out our latest analysis for EROAD

What's the opportunity in EROAD?

The stock seems fairly valued at the moment according to my valuation model. It’s trading around 9.92% above my intrinsic value, which means if you buy EROAD today, you’d be paying a relatively fair price for it. And if you believe that the stock is really worth NZ$4.91, then there isn’t really any room for the share price grow beyond what it’s currently trading. Although, there may be an opportunity to buy in the future. This is because EROAD’s beta (a measure of share price volatility) is high, meaning its price movements will be exaggerated relative to the rest of the market. If the market is bearish, the company’s shares will likely fall by more than the rest of the market, providing a prime buying opportunity.

What does the future of EROAD look like?

Investors looking for growth in their portfolio may want to consider the prospects of a company before buying its shares. Buying a great company with a robust outlook at a cheap price is always a good investment, so let’s also take a look at the company's future expectations. EROAD's earnings over the next few years are expected to double, indicating a very optimistic future ahead. This should lead to stronger cash flows, feeding into a higher share value.

What this means for you:

Are you a shareholder? It seems like the market has already priced in ERD’s positive outlook, with shares trading around its fair value. However, there are also other important factors which we haven’t considered today, such as the financial strength of the company. Have these factors changed since the last time you looked at the stock? Will you have enough confidence to invest in the company should the price drop below its fair value?

Are you a potential investor? If you’ve been keeping an eye on ERD, now may not be the most optimal time to buy, given it is trading around its fair value. However, the optimistic prospect is encouraging for the company, which means it’s worth further examining other factors such as the strength of its balance sheet, in order to take advantage of the next price drop.

So while earnings quality is important, it's equally important to consider the risks facing EROAD at this point in time. For example – EROAD has 4 warning signs we think you should be aware of.

If you are no longer interested in EROAD, you can use our free platform to see our list of over 50 other stocks with a high growth potential.

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

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

TORONTO, May 7, 2021 /CNW/ – (TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") today announced the voting results from its 2021 Annual Meeting (the "Meeting").

A total of 579,747,316 common shares were voted at the Meeting, representing 78.54% of the votes attached to all outstanding common shares. Shareholders voted in favour of all items of business before the Meeting, as follows:

Detailed voting results for the 2021 Meeting are available on SEDAR at www.sedar.com.

Board Committees

The Board of Directors is pleased to announce the appointment of Ms. Poniachik to the Corporate Governance and Nominating Committee (CGNC). The CGNC is chaired by Ms. Stefan and members include Mr. Heppenstall and Ms. Poniachik.

The Board of Directors is also pleased to announce the appointment of Ms. Poniachik and Mr. J. Lundin to the Heath, Safety, Environment and Community Committee (HSEC). The HSEC is chaired by Mr. Jones and members include Ms. Poniachik and Mr. J. Lundin.

All Board Committees are comprised of entirely of independent directors.

About Lundin Mining

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

The information was submitted for publication, through the agency of the contact persons set out below on May 7, 2021 at 16:30 Eastern Time.

SOURCE Lundin Mining Corporation

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2021/07/c6115.html

Vancouver, British Columbia–(Newsfile Corp. – May 7, 2021) – Quaterra Resources Inc. (OTCQB: QTRRF) (TSXV: QTA) ("Quaterra" or the "Company") today announced that a 7,000 -10,000-foot core drilling program began on May 4th at its MacArthur copper oxide project in the Yerington District, Nevada. Costs associated with the program will be internally funded through utilization of funds on hand and funds derived through the exercise of Warrants prior to their maturity date.

The drill program, with an estimated time frame of 2-3 months, is designed to accomplish three objectives:

• Test the area east of the current resource for additional oxide mineralization

• Upgrade portions of the resource from Inferred to Indicated status

• Explore the under – drilled sulfide mineralization which exists beneath the oxide mineral resource.

"We intend to move MacArthur toward production as quickly as possible, and the current drilling program is the first step. Resurgent copper prices, a premier mining jurisdiction and global initiatives in electrification and decarbonization assure that success will be rewarded," says Quaterra chairman, Tom Patton.

This drilling program is the first major step toward completion of a prefeasibility study (PFS) which will be followed by a program of large diameter core drilling for the purpose of obtaining fresh samples for metallurgical testing; column testing to refine estimates of copper recovery and acid consumption; and mine plan optimization and financial model updating.

The Company estimates that completion of the PFS will require 12-15 months and an expenditure of US$3.5M-$4.0M, dependent upon results and the availability of funds. The successful completion of the PFS will substantially de-risk the project and inform whether the project should proceed to permitting, development, construction and operation.

The Company has completed in excess of a year of scoping work, including engineering work with results which suggest that the project may be amenable to a run-of-mine operation which could lower capital and operating costs. Like all acid-leach projects, MacArthur is sensitive to the price of copper, which has recently increased in excess of $4.00/lb. and to the price and usage of acid. The PFS will include a trade-off study to compare building an on-site acid plant versus shipment of acid from off-site, which could further reduce capital costs.

More information on timing and milestones for completion of the PFS will be available upon completion of the drill program.

About Quaterra Resources Inc.

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

On behalf of the Board of Directors,
Thomas Patton, Chairman
Quaterra Resources Inc.

For more information please contact:
Karen Robertson
Corporate Communications
778-898-0057

Jay Oness
Investor Relations
604-808-9479

Thomas Patton, Chairman
Quaterra Resources Inc.
604-641-2758

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

Disclosure note:

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/83232

VANCOUVER, BC, May 7, 2021 /CNW/ – The following issues have been halted by IIROC:

Company: Westcore Energy Ltd.

TSX-Venture Symbol: WTR

All Issues: Yes

Reason: Cease Trade Order

Halt Time (ET): 7:41 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

View original content: http://www.newswire.ca/en/releases/archive/May2021/07/c5861.html

Stock Symbol: WGF: TSX-V

SASKATOON, SK, May 7, 2021 /CNW/ – Wescan Goldfields Inc. ("Wescan" or the "Corporation") announces that it intends to seek the approval of shareholders at an annual general and special meeting to be held on June 8, 2021 (the "Meeting") to consolidate of all of the common shares in the capital of the Corporation (the "Common Shares"). The approval sought will be the consolidation of the Common Shares on the basis of a ratio not greater than one new share for ten old shares (the "Consolidation"), with such ratio to be determined by the board of directors of Wescan (the "Board").

The proposed Consolidation is subject to shareholder approval and supporting documentation being accepted for filing by the TSX Venture Exchange. In conjunction with the proposed Consolidation, Wescan also intends to seek the approval of shareholders to change of the name of the Corporation to such name as the Corporation's Board of Directors, in its sole discretion, determines.

The Corporation also announces that it intends to extend the expiry date of an aggregate of 2,100,000 stock options (collectively, the "Options") issued during the month of May 2016 with exercise prices of $0.05 per option share, to the date that is seven years from each of the Option's grant date (the "Amendment"). The Amendment is subject to TSX Venture Exchange approval.

Wescan is a Canadian-based corporation engaged in the acquisition, exploration and development of mineral properties. Common Shares trade on the TSX Venture Exchange under the trading symbol "WGF".

Caution Regarding Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking statements in respect of the Meeting and the proposed Consolidation. These forward-looking statements are based on Wescan's current beliefs as well as assumptions made by and information currently available to Wescan. 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, both general and specific, and risks exist that predictions, forecasts, projections and other forward-looking statements will not be achieved. We caution readers not to place undue reliance on these statements as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates and intentions expressed in such forward-looking statements. These factors include, but are not limited to, developments in world gold markets, changes in exploration plans due to exploration results and changing budget priorities of Wescan, the effects of competition in the markets in which Wescan operates, the impact of changes in the laws and regulations regulating mining exploration and development, judicial or regulatory judgments and legal proceedings, operational and infrastructure risks and the additional risks identified in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulation.

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

SOURCE Wescan Goldfields Inc.

View original content: http://www.newswire.ca/en/releases/archive/May2021/07/c5485.html

If you want to compound wealth in the stock market, you can do so by buying an index fund. But one can do better than that by picking better than average stocks (as part of a diversified portfolio). To wit, the Hillgrove Resources Limited (ASX:HGO) share price is 100% higher than it was a year ago, much better than the market return of around 37% (not including dividends) in the same period. So that should have shareholders smiling. Zooming out, the stock is actually down 14% in the last three years.

Check out our latest analysis for Hillgrove Resources

Because Hillgrove Resources made a loss in the last twelve months, we think the market is probably more focussed on revenue and revenue growth, at least for now. When a company doesn't make profits, we'd generally expect to see good revenue growth. That's because it's hard to be confident a company will be sustainable if revenue growth is negligible, and it never makes a profit.

In the last year Hillgrove Resources saw its revenue shrink by 82%. Despite the lack of revenue growth, the stock has returned a solid 100% the last twelve months. We can correlate the share price rise with revenue or profit growth, but it seems the market had previously expected weaker results, and sentiment around the stock is improving.

The graphic below depicts how earnings and revenue have changed over time (unveil the exact values by clicking on the image).

It's probably worth noting we've seen significant insider buying in the last quarter, which we consider a positive. That said, we think earnings and revenue growth trends are even more important factors to consider. Dive deeper into the earnings by checking this interactive graph of Hillgrove Resources' earnings, revenue and cash flow.

What about the Total Shareholder Return (TSR)?

We've already covered Hillgrove Resources' share price action, but we should also mention its total shareholder return (TSR). Arguably the TSR is a more complete return calculation because it accounts for the value of dividends (as if they were reinvested), along with the hypothetical value of any discounted capital that have been offered to shareholders. Dividends have been really beneficial for Hillgrove Resources shareholders, and that cash payout contributed to why its TSR of 104%, over the last year, is better than the share price return.

A Different Perspective

It's nice to see that Hillgrove Resources shareholders have received a total shareholder return of 104% over the last year. That's better than the annualised return of 18% over half a decade, implying that the company is doing better recently. Given the share price momentum remains strong, it might be worth taking a closer look at the stock, lest you miss an opportunity. It's always interesting to track share price performance over the longer term. But to understand Hillgrove Resources better, we need to consider many other factors. Case in point: We've spotted 4 warning signs for Hillgrove Resources you should be aware of, and 2 of them are concerning.

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

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

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

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

McEwen (MUX) came out with a quarterly loss of $0.03 per share versus the Zacks Consensus Estimate of a loss of $0.02. This compares to loss of $0.04 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -50%. A quarter ago, it was expected that this gold and silver mining company would post a loss of $0.02 per share when it actually produced a loss of $0.06, delivering a surprise of -200%.

Over the last four quarters, the company has not been able to surpass consensus EPS estimates.

McEwen, which belongs to the Zacks Mining – Miscellaneous industry, posted revenues of $23.74 million for the quarter ended March 2021, missing the Zacks Consensus Estimate by 3.10%. This compares to year-ago revenues of $31.4 million. The company has topped consensus revenue estimates just once over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

McEwen shares have added about 26.9% since the beginning of the year versus the S&P 500's gain of 11.9%.

What's Next for McEwen?

While McEwen has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for McEwen was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #5 (Strong Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.02 on $26 million in revenues for the coming quarter and -$0.11 on $132.9 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Mining – Miscellaneous is currently in the bottom 34% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

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McEwen Mining Inc. (MUX) : Free Stock Analysis Report
 
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TORONTO, May 07, 2021 (GLOBE NEWSWIRE) — McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) today reported its first quarter (Q1) results for the period ended March 31^st, 2021.

• Production was 23,300 gold ounces and 493,200 silver ounces, or 30,600 gold equivalent ounces⁽¹⁾ (GEOs)(see Table 1), at the average gold:silver price ratio for the quarter of 68:1.

• Cash and liquid assets⁽²⁾ and positive working capital at March 31^st, 2021, were $52.5 million and $35.3 million, respectively.

• Two financings were completed for aggregate net proceeds of $42 million.

• We invested $6.8 million on exploration and advanced projects, and reported a net loss of $12.5 million, or ($0.03) per share, compared to a net loss of $99.2 million, or ($0.25) per share, in Q1 2020.

• We invested $5.0 million on exploration drilling and other exploration work, with the primary focus on growing the Fox Complex resource base.

• All operations delivered production results in line with our expectations. Production is expected to increase throughout 2021 and end 20 to 40% higher than 2020.

• We successfully reached the first development horizon at the new Froome deposit, part of the Fox Complex.

• A Preliminary Economic Assessment (PEA) to expand the production from the Fox Complex is expected to be released at the end of Q2 2021.

• Stephen McGibbon has joined as the Executive Vice President of Exploration, and Ruben Wallin has joined as the Vice President of Environment, Health, Safety and Sustainability.

• Our quarterly webcast will take place on Monday, May 10^th at 11 am EDT. Please see the details below.

Operations Update

San José Mine, Argentina (49% Interest)

Our attributable production from San José in Q1 was 9,500 gold ounces and 492,300 silver ounces, for a total of 16,700 GEOs. For Q1, total cash costs⁽²⁾ and all-in sustaining costs (AISC)⁽²⁾ were $1,088 and $1,328 per GEO, respectively. This compares to 14,900 GEOs at total cash costs and AISC of $1,138 and $1,592 per GEO, respectively, in Q1 2020.

We received $5 million in dividends in Q1, compared to no dividends during the same period in 2020.

In 2021, the exploration budget is $10 million. Recent exploration results generated by our partner and mine operator have been encouraging, including an outstanding result from the Escondida vein:

62.5 g/t gold and 5,571 g/t silver over 2.0 meters – hole SJM-529

Gold Bar Mine, USA (100% Interest)

Gold Bar produced 7,400 GEOs in Q1 at total cash costs and AISC of $1,865 and $1,934 per GEO, respectively. This compares to 9,100 GEOs at total cash costs and AISC of $1,887 and $2,177 per GEO, respectively, in Q1 2020. Production for the remainder of the year is expected to increase, and correspondingly costs are expected to decrease. Updated resource and reserve estimates were completed. The exploration budget for 2021 is $5 million and is focusing on testing near-mine targets and further defining oxide resources on the neighboring Tonkin property.

Near-mine exploration during Q1 has delivered encouraging results from the North Ridge target, which will be provided in an upcoming exploration update.

Fox Complex, Canada (100% Interest)

Black Fox produced 5,200 GEOs in Q1 at total cash costs and AISC of $1,262 and $1,560 per GEO, respectively. This compares to 8,300 GEOs at total cash costs and AISC of $838 and $1,339 per GEO, respectively, in Q1 2020. Mining at Black Fox has begun transitioning to the Froome deposit, where a progressive ramp-up is planned through Q3, with commercial production expected in Q4. Costs are expected to fall considerably towards the latter half of the year as production rates increase to reach commercial production in Q4.

At the Stock property, surface exploration is underway with four drills at the Stock West target, and one drill at the historic Stock Mine. We spent $3.4 million in Q1 of the total $9 million exploration budget for 2021.

A Preliminary Economic Assessment (PEA) to expand the production from the Fox Complex will be released late in Q2. We are targeting improved production and cost profiles at the Fox Complex leveraging the potential for operational synergies through shared resources and infrastructure, a longer life of mine, and expanded production scale for the combined projects.

El Gallo Project, Mexico (100% Interest)

In Q1, El Gallo produced 1,300 GEOs from residual leaching of the heap leach pad. Operations were disrupted for three weeks by a blockade of the mine entrance by members of the local community, which has been resolved. A new 10-year agreement was reached between the El Gallo operation and the neighboring communities.

Los Azules Copper Project, Argentina (100% Interest)

Work continued on engineering and developing cost estimates to advance the proposed low altitude all-year access route to the project. Work is also progressing on identifying opportunities to accelerate the development and improve the economics of Los Azules. Concurrently, two strategic alternatives are being aggressively evaluated to determine what we believe will be the optimal way to finance the rapid development of Los Azules to create the greatest long-term value from this large copper resource for Argentina, the nearby communities, our shareholders, and employees.

Table 1 below provides production and cost results for Q1 2021 and 2020.

Notes:

1. 'Gold Equivalent Ounces' are calculated based on a gold to silver price ratio of 68:1 for Q1 2021, 94:1 for Q1 2020, 86:1 for the FY 2020, and 75:1 for 2021 Production Guidance.

2. Cash gross profit, cash costs per ounce, all-in sustaining costs (AISC) per ounce, and liquid assets are non-GAAP financial performance measures with no standardized definition under U.S. GAAP. For a description of the non-GAAP measures see "Non-GAAP Financial Measures" section in this press release; for the reconciliation of the non-GAAP measures to the closest U.S. GAAP measures, see the Management Discussion and Analysis for the year ended December 31^st, 2020 filed on Edgar and SEDAR.

3. Represents the portion attributable to us from our 49% interest in the San José Mine.

4. Both cash costs and AISC per GEO no longer represent key metrics used by management to evaluate residual leaching at the El Gallo Project. For this reason, the Company has ceased relying on, and disclosing, cash costs and all-in-sustaining costs per ounce as a key metric.

For the SEC Form 10-Q Financial Statements and MD&A refer to: http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000314203

Conference Call and Webcast

Management will discuss our Q1 2021 financial results and project developments and follow with a question-and-answer session. Questions can be asked directly by participants over the phone during the webcast.

The webcast will be archived on McEwen Mining's website at https://www.mcewenmining.com/media following the call.

COVID-19

All our operations have implemented rigorous health and safety measures to prevent the spread of the COVID-19 virus. Currently, the COVID-19 pandemic is not materially affecting our operations, or our future plans and objectives.

Reliability of Information Regarding San José
Minera Santa Cruz S.A., the owner of the San José Mine, is responsible for and has supplied to the Company all reported results from the San José Mine. McEwen Mining's joint venture partner, a subsidiary of Hochschild Mining plc, and its affiliates other than MSC do not accept responsibility for the use of project data or the adequacy or accuracy of this release.

Technical Information
The technical contents of this news release have been reviewed and approved by G. Peter Mah, P.Eng., COO of McEwen Mining and a Qualified Person as defined by Canadian Securities Administrators National Instrument 43-101 "Standards of Disclosure for Mineral Projects."

CAUTIONARY NOTE REGARDING NON-GAAP MEASURES
In this release, we have provided information prepared or calculated according to United States Generally Accepted Accounting Principles ("U.S. GAAP"), as well as provided some non-U.S. GAAP ("non-GAAP") performance measures. Because the non-GAAP performance measures do not have any standardized meaning prescribed by U.S. GAAP, they may not be comparable to similar measures presented by other companies.

Cash Costs and All-in Sustaining Costs
Cash costs consist of mining, processing, on-site general and administrative costs, community and permitting costs related to current operations, royalty costs, refining and treatment charges (for both doré and concentrate products), sales costs, export taxes and operational stripping costs, and exclude depreciation and amortization. All-in sustaining costs consist of cash costs (as described above), plus accretion of retirement obligations and amortization of the asset retirement costs related to operating sites, sustaining exploration and development costs, sustaining capital expenditures, and sustaining lease payments. Both cash costs and all-in sustaining costs are divided by the gold equivalent ounces sold to determine cash costs and all-in sustaining costs on a per ounce basis. We use and report these measures to provide additional information regarding operational efficiencies on an individual mine basis, and believe that these measures provide investors and analysts with useful information about our underlying costs of operations. A reconciliation to production costs applicable to sales, the nearest U.S. GAAP measure is provided in McEwen Mining's Quarterly Report on Form 10-Q for the quarter ended March 31, 2021.

Cash Gross Profit
Cash gross profit is a non-GAAP financial measure and does not have any standardized meaning under GAAP. We use cash gross profit to evaluate our operating performance and ability to generate cash flow; we disclose cash gross profit as we believe this measure provides valuable assistance to investors and analysts in evaluating our ability to finance our ongoing business and capital activities. The most directly comparable measure prepared in accordance with GAAP is gross profit or loss. Cash gross profit is calculated by adding back the depreciation and depletion expense to gross profit or loss. A reconciliation to gross profit, the nearest U.S. GAAP measure is provided in McEwen Mining's Quarterly Report on Form 10-Q for the quarter ended March 31, 2021.

Liquid assets
The term liquid assets used in this report is a non-GAAP financial measure. We report this measure to better understand our liquidity in each reporting period. Liquid assets is calculated as the sum of the Balance Sheet line items of cash and cash equivalents, restricted cash and investments, plus ounces of doré held in precious metals inventories valued at the London PM Fix spot price at the corresponding period. A reconciliation to the nearest U.S. GAAP measure is provided in McEwen Mining's Quarterly Report on Form 10-Q for the quarter ended March 31, 2021.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements and information, including "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements and information expressed, as at the date of this news release, McEwen Mining Inc.'s (the "Company") estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, risks and contingencies, and there can be no assurance that such statements and information will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements and information. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements and information include, but are not limited to, effects of the COVID-19 pandemic, fluctuations in the market price of precious metals, mining industry risks, political, economic, social and security risks associated with foreign operations, the ability of the corporation to receive or receive in a timely manner permits or other approvals required in connection with operations, risks associated with the construction of mining operations and commencement of production and the projected costs thereof, risks related to litigation, the state of the capital markets, environmental risks and hazards, uncertainty as to calculation of mineral resources and reserves, and other risks. Readers should not place undue reliance on forward-looking statements or information included herein, which speak only as of the date hereof. The Company undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See McEwen Mining's Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and other filings with the Securities and Exchange Commission, under the caption "Risk Factors", for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information regarding the Company. All forward-looking statements and information made in this news release are qualified by this cautionary statement.

The NYSE and TSX have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by the management of McEwen Mining Inc.

ABOUT MCEWEN MINING

McEwen Mining is a diversified gold and silver producer and explorer focused in the Americas with operating mines in Nevada, Canada, Mexico and Argentina. It also owns a large copper deposit in Argentina.

BETHESDA, Md., May 7, 2021 /PRNewswire/ — Centrus Energy Corp. (NYSE American: LEU) will broadcast its quarterly conference call with shareholders and the financial community over the Internet on Wednesday, May 12, 2021, at 8:30 a.m. ET. The Company will release its first quarter earnings report for 2021, which ended March 31, 2021, after the close of markets on Tuesday, May 11.

The conference call will be open to listeners who log in through the Company's website, www.centrusenergy.com. A link to the call will be located in the Investor Relations section of the website, and a webcast replay will be available through Friday, May 21, 2021.

Centrus Energy is a trusted supplier of nuclear fuel and services for the nuclear power industry. Centrus provides value to its utility customers through the reliability and diversity of its supply sources – helping them meet the growing need for clean, affordable, carbon-free electricity. Since 1998, the Company has provided its utility customers with more than 1,750 reactor years of fuel, which is equivalent to 7 billion tons of coal. With world-class technical and engineering capabilities, Centrus is also advancing the next generation of centrifuge technologies so that America can restore its domestic uranium enrichment capability in the future. Find out more at www.centrusenergy.com.

Contact:
Lindsey Geisler (301) 564-3392 or GeislerLR@centrusenergy.com

View original content to download multimedia:http://www.prnewswire.com/news-releases/centrus-to-webcast-conference-call-on-may-12-at-830-am-et-301286886.html

SOURCE Centrus Energy Corp.

It is hard to get excited after looking at IMPACT Silver's (CVE:IPT) recent performance, when its stock has declined 26% over the past three months. It is possible that the markets have ignored the company's differing financials and decided to lean-in to the negative sentiment. 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. Particularly, we will be paying attention to IMPACT Silver's ROE today.

ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.

Check out our latest analysis for IMPACT Silver

How Is ROE Calculated?

ROE 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 IMPACT Silver is:

3.9% = CA$2.3m ÷ CA$59m (Based on the trailing twelve months to December 2020).

The 'return' is the amount earned after tax over the last twelve months. Another way to think of that is that for every CA$1 worth of equity, the company was able to earn CA$0.04 in profit.

Why Is ROE Important For Earnings Growth?

So far, we've learned that ROE is a measure of a company's profitability. Depending on how much of these profits the company reinvests or "retains", and how effectively it does so, we are then able to assess a company’s earnings growth potential. 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.

IMPACT Silver's Earnings Growth And 3.9% ROE

When you first look at it, IMPACT Silver's ROE doesn't look that attractive. Next, when compared to the average industry ROE of 14%, the company's ROE leaves us feeling even less enthusiastic. Therefore, it might not be wrong to say that the five year net income decline of 7.1% seen by IMPACT Silver was probably the result of it having a lower ROE. However, there could also be other factors causing the earnings to decline. Such as – low earnings retention or poor allocation of capital.

However, when we compared IMPACT Silver's growth with the industry we found that while the company's earnings have been shrinking, the industry has seen an earnings growth of 28% in the same period. This is quite worrisome.

Earnings growth is an important metric to consider when valuing a stock. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. One good indicator of expected earnings growth is the P/E ratio which determines the price the market is willing to pay for a stock based on its earnings prospects. So, you may want to check if IMPACT Silver is trading on a high P/E or a low P/E, relative to its industry.

Is IMPACT Silver Making Efficient Use Of Its Profits?

Summary

Overall, we have mixed feelings about IMPACT Silver. While the company does have a high rate of reinvestment, the low ROE means that all that reinvestment is not reaping any benefit to its investors, and moreover, its having a negative impact on the earnings growth. Wrapping up, we would proceed with caution with this company and one way of doing that would be to look at the risk profile of the business. To know the 3 risks we have identified for IMPACT Silver visit our risks dashboard for free.

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.

CRANBROOK, BC / ACCESSWIRE / May 6, 2021 / Eagle Plains Resources Ltd. (TSXV:EPL) and SKRR Exploration (CSE:SKRR) have received results from the 12-hole, 1674m (5,492') drill program recently completed on EPL's 100%-owned Olson property (the "Property"). SKRR may earn up to a 75% interest in the property over three years (option agreement details below). The Olson property area covers 5,038 ha located within the Trans Hudson Corridor 100 km east of La Ronge, Saskatchewan and 80km south of SSR Mining's Seabee Gold Operation. All 2021 work was fully funded by SKRR.

The current program was designed to follow up on results from a 2,981m (9,778') drill program completed on the property in Fall 2020, where 13 of the 18 of the drillholes intersected significant gold mineralization including new discoveries at the previously undrilled Point, Jena and Michael's Lake zones, high grade mineralization in a step out hole at the historic Olson Zone showing and wide intercepts of near surface mineralization at the Siskin Zone (see EPL News Releases February 4th, 2021 and March 25th, 2021).

The current program continued to demonstrate the near surface, large size potential of the Point Zone with significant widths of gold mineralization. The Point Zone shows good continuity in width and often with narrow higher-grade intervals. New highlights include:

• OL21019: 50.24m @ 0.41 g/t Au (3.23m – 53.47m), including:

  • 6.25m @ 1.15 g/t Au (35.75m – 42.00m)

• OL21020: 39.5m @ 0.37 g/t Au (2.66m – 42.16m), including:

  • 12.61m @ 0.60 g/t Au (20.00m – 32.61m)

• OL21023: 7.04m @ 0.43 g/t Au (36.46m – 43.50m), and

  • 9.02m @ 1.16 g.t Au (67.53m – 76.55m), including:

  • 4.55m @ 1.59 g/t Au (72.00m – 76.55m)

Drill results at the Olson Zone continue to show encouragement and demonstrate well developed thickness with higher grade intervals. The Olson Zone is open in all directions. Significant intersections include:

• OL21025: 13.1m @ 0.89 g/t Au (32.22m – 45.32m), and:

  • 8.41m @ 0.72 g/t Au (122.47m – 130.88m)

• OL21026: 11.04m @ 0.61 g/t Au (48.63m – 59.67m) and:

  • 29.44m @ 1.30 g/t Au (105.04m – 134.48m), including:

  • 10.21m @ 2.95 g/t Au (120.11m – 130.32m), including:

  • 5.54m @ 4.12 g/t Au (121.69m – 127.23m), including:

  • 0.78m @ 14.55 g/t Au (126.45m – 127.23m)

Other Winter Program Drilling Highlights

• 9 of 12 holes completed intersected significant mineralization

• New Gold Discovery: First hole completed at Ackbar Lake, drill hole OL21029, returned 0.75g/t over 8.12m, including 2.39g/t over 1.4m;

• Mineralized Core: 92 of the 717 core samples collected returned greater than 0.5 g/t Au, with 38 samples greater than 1 g/t Au.

See Olson regional map here

Winter 2021 Drill Results

SKRR completed 12 holes (1674m, 5,492') of diamond drilling that tested the Point (6 holes), Olson (4 holes), Michael's Lake and Ackbar zones (1 hole each), all located in the central part of the property. One hole was abandoned due to rapidly deteriorating ice conditions.

See Olson property map here

Analytical results ranged from trace values to broad low grade and narrow higher-grade intercepts, as summarized below.

Select Drill Results Table:

* All drill indicated intercepts as reported in this news release are measured along core length and true thickness is yet to be determined.

See Olson Zone map and drill collar locations here

Drill holes OL21019 – 23, and OL21031 tested the shear-vein systems associated with the contact between granodiorite and meta-sediments at the Point showing, where 2020 drilling returned 39.80m of 1.09g/t Au including 1.53m of 13.80 g/t Au in DDH OL2004.

OL21019-21, 30m step back holes from OL20004, intercepted broad zones of gold mineralization that extend from granodiorite at surface across the contact with the metasediments. Hole OL21019 intercepted 0.41 g/t Au over 50.24m, including 1.15 g/t Au over 6.25m and 2.85 g/t Au over 1.54m. Hole OL21020 intercepted 0.37 g/t Au over 39.50m, including 0.6 g/t Au over 12.61m and 1.25 g/t Au over 2.10m. Hole OL21021 intercepted 0.42 g/t Au over 14.50m, including 3.17 g/t Au over 0.94m.

OL21022, a 50m step-out south along strike from holes OL21019-21 returned a best intercept of 3.02 g/t Au over 1.00m from 19.55-20.55m.

OL21023, a 50m step-out north along strike from holes OL21019-21 intercepted two zones of gold mineralization. The upper interval returned 0.43 g/t Au over 7.04m, including 2.29 g/t Au over 0.59m associated with arsenopyrite/pyrrhotite stringer veins within the Brownell Lake Pluton. Mineralization in the lower interval was associated with a granodiorite dyke, and returned 1.16 g/t Au over 9.02m, including 4.1 g/t Au over 1.26m.

OL21031, a 75m step-out north along strike from OL21023, returned 0.39g/t Au over 15.15m.

Drill holes OL21025 – 26, and OL21030 were drilled at the Olson Zone. Hole OL21025 was drilled as a 65m step-out to the west along strike from hole OL20017, which returned 9.64 g/t Au over 1.23m. It intercepted two significant zones of gold mineralization. The upper interval returned 0.89 g/t Au over 13.10m, including 3.67 g/t Au over 2.49m, associated with sericite alteration in metabasalt. The lower interval returned 0.72 g/t Au over 8.41m associated with up to 1% vein-hosted and disseminated arsenopyrite.

Hole OL21026 was drilled to infill an 150m gap in historic drilling at the Olson showing. The hole intercepted well developed quartz veining and silicification and returned 1.30 g/t Au over 29.44m, including 4.12 g/t Au over 5.54m and 14.55 g/t Au over 0.78m.

Hole OL21029, the first hole ever drilled at the Ackbar Lake Zone, was designed to test a large soil anomaly. It returned 0.75 g/t Au over 8.12m, including 2.39 g/t Au over 1.40m, with mineralization hosted in diorite with up to 1% vein-hosted and disseminated arsenopyrite.

Tim Termuende, P.Geo., President and CEO commented recently on the results: "We are extremely encouraged by the results to date at the Olson Project and congratulate SKRR for their confidence and perseverance and the TerraLogic exploration team for their excellent work to date. The presence of consistent high grade gold mineralization identified at the Olson Zone and low-grade, bulk-tonnage gold mineralization discovered at the Point and Ackbar Zones confirms the overall potential of the Olson Project and bodes well for further exploration and potential resource development. We look optimistically forward to future exploration of the property."

Sherman Dahl, CEO, SKRR Exploration stated: "Our Olson drilling was ambitiously designed to test the size potential of the Olson gold system. It was successful on all fronts. The presence of consistent high grade gold mineralization identified at the Olson project confirms the overall potential growing into a significant resource".

Olson Project Summary

The Olson project area overlies regionally sheared, highly strained meta-volcanic and intrusive rocks which are considered to be prospective for orogenic gold mineralization. The property is host to 29 mineral occurrences defined by historical geological mapping, prospecting, trenching and 4700 m of diamond drilling, with the last drilling reported in 2008. Historical drilling at Olson Lake has intersected 7.5 m grading 2.07 g/t Au including 13.00 g/t Au over 0.65 m, and grab samples of up to 105.52 g/t Au have been collected at the Kalix occurrence. 2018-2019 fieldwork completed by Eagle Plains and a previous partner consisted of a detailed compilation of historical data, geological mapping, soil geochemical work and prospecting. The fall 2020 drill program at the Olson intersected significant gold mineralization including new discoveries at the previously undrilled Point, Jena and Michael's Lake zones, high grade mineralization in a step out hole at the historic Olson showing and wide intercepts of near surface mineralization at the Siskin Zone. The project is considered to be significantly underexplored, with known gold occurrences open at depth and along strike. Some results are historical in nature and have not been confirmed by Eagle Plains/SKRR but are considered to be reliable and will form a basis for ongoing work.

QA/QC

Geological and geotechnical logging and core sampling were completed at a facility on the Olson property. Assay intervals were based on visual identification of mineralization, presence and density of quartz veins and lithological boundaries. Terralogic Exploration geologists maintained chain of custody and sampling procedures reported in this news release according to best industry practice and with due attention to quality assurance and quality control, including sampling field duplicates and insertion of certified standard and blank samples.

Samples were sent for geochemical analysis with ALS Global, Vancouver for the following analyses: 48 element four-acid ICP-MS (ME-MS61) and gold (Au) 30 g Fire Assay – AA finish (Au-AA23). Samples that returned over 1ppm Au by Au-AA23 were re-analysed using gold (Au) 30g Fire Assay – Gravimetric finish (Au-GRA21).

On receipt of final certificates of analysis, the QA/QC sample results were reviewed to ensure the order of samples were reported correctly, that the blanks ran clean, and that the results for each standard had minimal variance from its certified value. QA/QC for the Olson Drilling Program included certified reference material ("CRM's") and blanks that were inserted into each sample batch in order to verify the analytical from the lab. The CRM's from all holes reported passed within 3 standard deviations and the blanks returned acceptable values. All of the lab internal standards and duplicates were within acceptable values.

Olson Option Agreement Details

Under the Agreement, SKRR may earn-in up to a 51% interest in the Property by making certain staged cash payments, share payments of common shares in the capital of SKRR to Eagle Plains and exploration expenditures over a period as follows: (i) $10,000 in cash upon execution of a letter of intent in respect of the Transaction (received); (ii) $20,000 in cash and 200,000 common shares upon TSXV approval of the Transaction (received); (iii) $40,000 in cash, 200,000 common shares and $200,000 in exploration expenditures on or before December 31, 2020 (received); (iv) $80,000 in cash, 200,000 common shares and $500,000 in exploration expenditures on or before December 31, 2021; and (v) $100,000 in cash, 200,000 common shares and $800,000 in exploration expenditures on or before December 31, 2022.

SKRR may earn-in up to a an additional 24% (75% total) interest in the Property by making additional exploration expenditures of $1,500,000 on the Property and issuing 200,000 common shares of SKRR to Eagle Plains on or before December 31, 2023.

Iron Range Project Update

Eagle Plains has received an anniversary cash payment of $15,000 from its option partner (an arm's length private Alberta company ("the Company")), related to an option agreement on Eagle Plains' 100% owned Iron Range Project located near Creston, in Southern British Columbia. Eagle Plains has also recently received final data/reporting/interpretation from the 2020 Iron Range field program, wholly funded by the Company. 2020 work at the Iron Range included soil, rock, and stream sediment geochemistry, a Quantum Geoelectrophysics (QGEP), or Quantum Direct Matter Indicator (QDMI) non conventional geophysical survey, and 10 hole, 738m diamond drilling program. Although the results from the 2020 work are inconclusive, further work has been recommended to continue to advance the Iron Range project.

Under terms of the option agreement as announced May 5th, 2020, the Company holds the exclusive right to earn up to a 60% interest in the Iron Range Project (the "Project") from Eagle Plains over a five-year period by incurring $3,500,000 in exploration expenditures and making $250,000 in cash payments to Eagle Plains. The Company retains the right to increase its interest to 80% by making a one-time cash payment of $1,000,000 to Eagle Plains.

Management of Eagle Plains considers the Iron Range project to hold excellent potential for the presence of both iron-oxide copper-gold ("IOCG") and Sullivan-style lead-zinc-silver sedimentary-exhalative ("sedex") mineralization. The Iron Range property covers an area of approximately 10km x 60km which overlies the regional Iron Range Fault System ("IRFS"). Prior to the acquisition and initial involvement of Eagle Plains in 2001, the property had seen little systematic exploration for other than iron resources known to exist on the property since the late 1800s. Since 2001, Eagle Plains and its partners have completed 17,964m in diamond-drilling in 70 holes, collected 2482 line-km of airborne and surface geophysical data and analysed 10,078 soil geochemical samples, 498 rock samples and 5749 drill core samples.

Drilling at Iron Range in 2010 resulted in the discovery of the Talon Zone, where drill-hole IR10-010 intersected 2 intervals of strong and continuous mineralization including 14.0m grading 5.1g/t gold, 1.86% lead, 2.1% Zinc, 75.3g/t silver and 7.1m grading 8.13g/t gold, 2.84% lead, 3.07% zinc, 86.6g/t silver (Eagle Plains news release December 21st, 2010). Previous drilling 10km north of the Talon Zone in 2008 by Eagle Plains intersected gold mineralization in drill-hole IR08006 which assayed 7.0m grading 51.52g/t (1.50 oz/ton) gold (Eagle Plains news release dated April 20th, 2009).

Qualified Persons

The four-week program at the Olson was supervised by Jarrod Brown, P.Geo. of Terralogic Exploration Services of Cranbrook, B.C. and relied extensively on support services and personnel from the town of Deschambault Lake, SK for which we express our gratitude. The Iron Range drill program was supervised by Kerry Bates, P.Geo. Charles C. Downie, P.Geo., a "qualified person" for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and a Director of Eagle Plains Resources Ltd., has prepared, reviewed, and approved the scientific and technical disclosure in this news release.

About Eagle Plains Resources

Based in Cranbrook, B.C., Eagle Plains continues to conduct research, acquire and explore mineral projects throughout western Canada. The Company is committed to steadily enhancing shareholder value by advancing our diverse portfolio of projects toward discovery through collaborative partnerships and development of a highly experienced technical team. Eagle Plains also holds significant royalty interests in western Canadian projects covering a broad spectrum of commodities. Management's focus is to advance its most promising exploration projects. In addition, Eagle Plains continues to seek out and secure high-quality, unencumbered projects through research, staking and strategic acquisitions. Throughout the exploration process, our mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices.

Expenditures from 2011-2020 on Eagle Plains-related projects exceed $22M, most of which was funded by third-party partners. This exploration work resulted in approximately 37,000 m of diamond-drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at various stages of development.

On behalf of the Board of Directors

"Tim J. Termuende"
President and CEO

For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com

Cautionary Note Regarding Forward-Looking Statements

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

SOURCE: Eagle Plains Resources Ltd.

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VANCOUVER, BC / ACCESSWIRE / May 6, 2021 / Granite Creek Copper Ltd. (TSX.V:GCX|OTCQB:GCXXF) ("Granite Creek" or the "Company") announces that Kluane Drilling has mobilized two diamond drill rigs to the Carmacks copper-gold-silver project (formerly Carmacks and Stu projects), in Central Yukon, Canada, for immediate commencement of the Company's 2021 drill campaign. The program will consist of up to 10,000 meters of drilling focused on upgrading inferred resources to indicated, as well as step out drilling aimed at delineating new resources where the deposit remains open to expansion.

Granite Creek's 2021 drill program follows up on the Company's highly successful inaugural drill program, completed in November 2020, which encountered 127 meters of 0.85% Copper Equivalent ("CuEq") at Carmacks Zone 13, and 4.6 meters of 7.51% CuEq at Carmacks North Zone A. Priority targets for this year's program will include the underlying sulfide potential at Carmacks Zone 1 (see figures below), Carmacks Zones 2000S, 12, and 13, as well as following up on last year's success at Carmacks North Zone A.

Carmacks Zone 1 hosts a portion of the overall 23.76 million tonnes of the current mineral resource estimate¹ and remains open at depth and along strike. While the oxide portion of Zone 1 has been well defined and is categorized in the Measured and Indicated category, only approximately half of the underlying sulfide resource is in the Measured and Indicated category, while the remainder is classed as Inferred. Starting at only 200m from surface, the sulfide in Zone 1 has the potential to add additional tonnage to the contained resources and could become a part of an updated economic study. Results from the 2020 and 2021 drill programs are anticipated to be included in an updated NI43-101 mineral resource estimate for the project.

Figure1 – Long-section of historical drill intercepts in sulfide portion of Carmacks Zone 1

Figure 2 – Cross-section A-A through northern portion of Carmacks Zone 1

Table 1 – Highlight sulfide historical drill intercepts of mineralization in Carmacks Zone 1

^*Length of intercept is drilled width not true width of zone. Resource modelling shows true width of the zone to vary from 20-50m

^**Copper equivalent (CuEq) values assume Cu $3/lb, Au $1800/oz, Ag $18/oz, Mo $10/lb, and 100% recovery.

Granite Creek President & CEO, Tim Johnson, commented, "We continue to aggressively advance the Carmacks project, with its attributes of high-grade, near-surface copper, gold, and silver mineralization in an underexplored district-scale land position, and with the support of rising copper prices as we begin a new bull market commodity cycle. The project is part of the Minto Copper Belt that hosts a high-grade operational mine with roads, power and port infrastructure already in place within a top Canadian mining jurisdiction. We see a number of exciting opportunities to optimize the resource on the project, and excellent potential to expand the known high-grade copper mineralization zones – which remain open along strike and at depth – as well as to make significant new discoveries at a number of major untested targets. Our Carmacks deposit currently contains 446 million pounds Cu, 237,000 ozs Au and 2.4M ozs Ag^1,2 in NI 43-101 M&I mineral resources, and we see the potential for a multi-billion-pound-scale copper system."

"Given the early start of the drill program, assay results should be released throughout the summer as they become available. In the ensuing weeks our geological team will assess the feasibility of running a second phase drill program later in the season. We look forward to the exciting exploration season ahead and to providing additional updates."

COVID-19 Protocols

Granite Creek has worked closely with the Yukon government to develop a COVID-19 safety plan that enables the Company to implement an effective work plan while maintaining the highest degree of safety of our workers and surrounding communities. The Company strictly adheres to mandates put in place by health authorities at the Federal and Territorial government level and hold the health and safety of our workers, and the citizens of the communities in which work in the highest regard.

[1] JDS Energy and Mining. Feb 9, 2017. NI 43-101 Preliminary Economic Assessment Technical Report on the Carmacks Project, Yukon, Canada. Contained metal based on 23.76 million tonnes of NI 43-101 compliant resources in the Measured and Indicated categories grading 0.85% Cu, 0.31 g/t Au, 3.14 g/t Ag.

[2] Arseneau Consulting Services, 2016 Independent Technical Report on the Carmacks Copper Project, Yukon, Canada.

About Granite Creek Copper

Granite Creek, a member of the Metallic Group of Companies, is a Canadian exploration company focused on the 176 square kilometer Carmacks project in the Minto copper district of Canada's Yukon Territory. The project is on trend with the high-grade Minto copper-gold mine, operated by Minto Explorations Ltd, to the north and features excellent access to infrastructure with the nearby paved Yukon Highway 2, along with grid power within 12 km. More information about Granite Creek Copper can be viewed on the Company's website at www.gcxcopper.com.

Qualified Person

Ms. Debbie James, P.Geo., a qualified person for the purposes of National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release.

FOR FURTHER INFORMATION PLEASE CONTACT:

Timothy Johnson, President & CEO
Telephone: 1 (604) 235-1982
Toll Free: 1 (888) 361-3494
E-mail: info@gcxcopper.com
Website: www.gcxcopper.com
Metallic Group: www.metallicgroup.ca

Forward-Looking Statements

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

SOURCE: Granite Creek Copper Ltd.

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TORONTO, May 06, 2021 (GLOBE NEWSWIRE) — First Quantum Minerals Ltd. (“First Quantum” or “the Company”) (TSX:FM) announced that the nominees listed in the Management Information Circular for the 2021 Annual Meeting of Shareholders were elected as directors of First Quantum. In total, 582,519,893 shares were voted at the meeting, representing 84.38% of the issued and outstanding shares of the Company. Detailed results of the vote for the election of directors held at the Annual Meeting on May 6, 2021 are set out below. The below results have also been filed on www.SEDAR.com.

For further information, visit our website at www.first-quantum.com or contact:

Lisa Doddridge, Director, Investor Relations
(416) 361-3400 Toll-free: 1 (888) 688-6577
E-Mail: info@fqml.com

/ NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /

TORONTO, May 06, 2021 (GLOBE NEWSWIRE) — Plato Gold Corp. (TSX-V: PGC; Frankfurt: 4Y7 or WKN: A0M2QX) (“Plato” or the “Company”) is pleased to announce that it intends to complete a non-brokered private placement (the “Offering”) for gross proceeds of up to $200,000. Closing of the Offering is expected to occur on or about Jun 11, 2021.

The Offering shall be composed of (i) 3,000,000 flow-through shares (“FT Shares”) at a price of $0.05 per FT Share for gross proceeds of up to $150,000; and (ii) 1,000,000 hard dollar units (“HD Units”) at a price of $0.05 per HD Unit for gross proceeds of up to $50,000. Each HD Unit shall be composed of one common share in the capital of the Company (“Common Share”) and one Common Share purchase warrant (“Warrant”). Each Warrant will entitle the holder to purchase one Common Share at a price of $0.07 per Common Share until the date which is twenty-four (24) months following the closing date of the Offering, whereupon the Warrants will expire. Each FT Share shall be composed of one Common Share issued on a flow-through basis within the meaning of the Income Tax Act (Canada) (the “Tax Act”).

Completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange (the “Exchange”) and applicable securities regulatory authorities. The securities issued and issuable pursuant to the Offering will be subject to a four month and one day statutory hold period. In connection with the Offering, the Company may pay commissions to eligible persons in accordance with the policies of the Exchange.

The proceeds raised from the sale of the FT Shares will be used to incur “Canadian exploration expenses” that are “flow-through mining expenditures” (as such terms are defined in the Tax Act) to pay for assay results on over 2,000 meters of drill core from the Company’s Good Hope Niobium Project near Marathon, Ontario and to fund the Company’s other properties in Ontario, Canada. The proceeds raised from the sale of the HD Units will be used for general working capital purposes and for exploration expenses on the Company’s properties.

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

About Plato Gold Corp.

Plato Gold Corp. is a Canadian exploration company listed on the TSX Venture Exchange and Frankfurt Exchange with projects in Timmins, Ontario, Marathon, Ontario and Santa Cruz, Argentina.

The Timmins, Ontario project includes 4 properties: Guibord, Harker, Holloway and Marriott in the Harker/Holloway gold camp located east of Timmins, Ontario with a focus on gold.

In Argentina, Plato owns a 95% interest in Winnipeg Minerals S.A. (“WMSA”), an Argentina incorporated company that holds a number of contiguous mineral rights totalling 9,672 hectares with potential for gold and silver.

The Good Hope Niobium Project consists of approximately 5,146 hectares in Killala Lake Area and Cairngorm Lake Area Townships, near Marathon, Ontario with the primary target being niobium.

The Pic River Platinum Group Metals (PGM) Project consists of 2,247 hectares in Foxtrap Lake and Grain Township, near Marathon, Ontario of which 19 claims are contiguous to the western boundary of Generation Mining’s Marathon PGM project and is located on strike to Generation Mining’s Sally deposit.

For additional company information, please visit: www.platogold.com.

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

For further information, please contact:

Anthony Cohen
President and CEO
Plato Gold Corp.
T: 416-968-0608
F: 416-968-3339
info@platogold.com
www.platogold.com

Forward Looking Statements

This news release contains “forward-looking statements”, within the meaning of applicable securities laws. These statements include, but are not limited to, completion of the Offering, statements regarding the potential mineralization and resources, exploration results, concentrations of pay minerals may offset operating costs and future plans and objectives. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include but are not limited to: changing costs for mining and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on drilling that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; testing of our process may not prove successful and even it tests are successful, the economic and other outcomes may not be as expected; the availability of labour, equipment and markets for the products produced; conditions changing such that the minerals on our property cannot be economically mined, or that the required permits cannot be obtained; and an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restrictions on labour and international travel and supply chains. Although management of Plato has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.

VANCOUVER, British Columbia, May 06, 2021 (GLOBE NEWSWIRE) — Search Minerals Inc. (“Search” or the “Company”) (TSXV: SMY), is pleased to acknowledge receipt of a grant of $60,138 from the Province of Newfoundland and Labrador towards exploration work completed in 2020 on the Company’s Critical Rare Earth Element (CREE) claims located near the communities of St. Lewis and Port Hope Simpson in Southeastern Labrador.

Greg Andrews, President and CEO of Search Minerals states, “Search is very appreciative of the Junior Exploration Assistance Program (“JEA”) funds granted by the Province of Newfoundland and Labrador Department of Natural Resources. These funds allowed us to hire local personnel and continue to explore and advance the Critical Rare Earth Element District (the “District”) in 2020. The Company controls a belt 63 km long and 2 km wide and there are still 20 showings within this belt to be assessed and maintained.”

The highlights of the 2020 field season

• FOX MEADOW: current channel program indicates that the SW mineralized zone is at least 175m wide and the NE mineralized zone is at least 110m wide;

• FOX MEADOW: this project requires an expanded 2021 channeling/trenching program to sample the extended length and width indicated in the 2020 exploration program;

• AWESOME FOX: the 2020 and previous channel programs indicate that mineralization within the UAV magnetic anomaly is at least 850m long and 5-20m thick;

• SILVER FOX: new channels outline a high-grade zirconium-hafnium mineralized zone that is up to 1.2 km long and 1-10m thick. SILVER FOX is located just west of the FOXTROT DEPOSIT;

Andrews added: “We are preparing for our upcoming 2021 drill and exploration program, which will include approximately 7000m of drilling at Deep Fox to commence in June. The drill program is fully funded with our recent $ 2,520,000 flow-through funding completed in April 2021. We will also continue our exploration work at Silver Fox and Fox Meadow, to bring these prospects to “Drill Ready” status.”

For further information, please contact:

Greg Andrews
President and CEO
Tel: 604-998-3432
E-mail: info@searchminerals.ca

About Search Minerals Inc.

Led by a proven management team and board of directors, Search is focused on finding and developing resources within the emerging Critical Rare Earth Element (“CREE”) District of South East Labrador. The Company controls a belt 63 km long and 2 km wide including its 100% interest in the FOXTROT and DEEP FOX Projects, which are road accessible and at tidewater. Exploration efforts have advanced FOX MEADOW, AWESOME FOX and SILVER FOX as new CREE prospects very similar to and in close proximity to FOXTROT and DEEP FOX.

Search has continued to optimize our patented Direct Extraction Process technology with the generous support from the Department of Tourism, Culture, Industry and Innovation, Government of Newfoundland and Labrador, and from the Atlantic Canada Opportunity Agency. We have completed two pilot plant operations and produced highly purified mixed rare earth carbonate concentrate and mixed REO concentrate for separation and refining.

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.

TORONTO, May 06, 2021 (GLOBE NEWSWIRE) — Plateau Energy Metals Inc. (“Plateau” or the “Company”) (TSX-V:PLU | OTCQB:PLUUF) advises that, the Company and two of its officers have received a Notice of Hearing together with a Statement of Allegations from staff of the Ontario Securities Commission (the “OSC”) announcing the commencement of regulatory proceedings to consider whether the Company and such officers engaged in conduct that warrants the OSC making an order against them.

The Statement of Allegations consists of allegations consistent with those contained in notices previously received and announced in the Company’s press release dated March 15, 2021, and relates to the Company’s public disclosure in 2019 regarding the status of the Company’s title to 32 mineral concessions in Peru and whether the Company met its obligations related to continuous disclosure, associated filings and related activities. The 32 mineral concessions at issue were the subject of the Company’s March 2, 2021, press release.

Plateau remains of the view that it has complied with all of its disclosure obligations, and it intends to defend the allegations in the administrative proceedings.

The transaction with American Lithium Corp. announced on February 9, 2021, is scheduled to close on or about May 11, 2021.

About Plateau Energy Metals

Plateau Energy Metals Inc., a Canadian exploration and development company, is enabling the new energy paradigm through exploring and developing its Falchani lithium project and Macusani uranium project in southeastern Peru, both of which are situated near significant infrastructure.

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

Forward Looking Statements

This press release contains certain forward-looking information and forward-looking statements (collectively “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements regarding the Company’s response to the OSC, the Company’s view on its compliance with all of its disclosure obligations, the validity of the Company’s title to 32 mineral concessions in Peru, the timing and completion of the acquisition transaction with American Lithium Corp. (the “Arrangement”), project exploration and the Company’s business plans, expectations and objectives.

Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend", “indicate”, “scheduled”, “target”, “goal”, “potential”, “subject”, “efforts”, “option” and similar words, or the negative connotations thereof, referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management are not, and cannot be, a guarantee of future results or events. Although the Company believes that the current opinions and expectations reflected in such forward-looking statements are reasonable based on information available at the time, undue reliance should not be placed on forward-looking statements since the Company can provide no assurance that such opinions and expectations will prove to be correct. All forward-looking statements are inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including risks and uncertainties relating to the OSC proceedings, the view and expectations of the Company regarding the OSC proceedings, the Company’s ability to complete the Arrangement and the timing thereof, the Company’s ability to secure the necessary security holder and regulatory approvals required to complete the Arrangement; risks related to the satisfaction or waiver of certain conditions to the closing of the Arrangement; the Company’s ability to achieve its stated goals as a result of the Arrangement; the COVID-19 pandemic and the extent and manner to which measures taken by governments and their agencies, the Company or others to attempt to reduce the spread of COVID-19 could affect the Company, which could have a material adverse impact on many aspects of the Company's business including but not limited to: the Company’s ability to access its properties for indeterminate amounts of time, the health of its employees or consultants resulting in delays or diminished capacity, social or political instability in Peru which in turn could impact the Company’s ability to maintain the continuity of its business operating requirements, may result in the reduced availability or failures of various local administration and critical infrastructure, reduced demand for the Company’s potential products, availability of materials, global travel restrictions, and the availability of insurance and the associated costs; risks related to the certainty of title to our properties, including the status of the “Precautionary Measures” filed by the Company’s subsidiary Macusani Yellowcake S.A.C. (“Macusani”), the outcome of the administrative process, the judicial process, and any and all future remedies pursued by Plateau and its subsidiary Macusani to resolve the title for 32 of its concessions; exploration and laboratory work currently under way, the judicial process, and any and all future remedies pursued by Plateau and its subsidiary Macusani to resolve the title for 32 of its concessions, test work to advance the by-product evaluation at Falchani, the ongoing ability to work cooperatively with stakeholders, including but not limited to local communities and all levels of government; the potential for delays in exploration or development activities due to the COVID-19 pandemic; the interpretation of drill results, the geology, grade and continuity of mineral deposits; the possibility that any future exploration, development or mining results will not be consistent with our expectations; mining and development risks, including risks related to accidents, equipment breakdowns, labour disputes (including work stoppages, strikes and loss of personnel) or other unanticipated difficulties with or interruptions in exploration and development; risks related to commodity price and foreign exchange rate fluctuations; risks related to foreign operations; the cyclical nature of the industry in which we operate; risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals; risks related to environmental regulation and liability; political and regulatory risks associated with mining and exploration; risks related to the uncertain global economic environment and the effects upon the global market generally, and due to the COVID-19 pandemic measures taken to reduce the spread of COVID-19, any of which could continue to negatively affect global financial markets, including the trading price of the Company's shares and could negatively affect the Company's ability to raise capital and may also result in additional and unknown risks or liabilities to the Company. Other risks and uncertainties related to our prospects, properties and business strategy are identified in the “Risks and Uncertainties” section of Plateau’s Management’s Discussion and Analysis filed on January 19, 2021 and in recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and Plateau cautions against placing undue reliance thereon. Except as required by applicable securities legislation, neither Plateau nor its management assume any obligation to revise or update these forward-looking statements.

Despite strong share price growth of 102% for Antofagasta plc (LON:ANTO) over the last few years, earnings growth has been disappointing, which suggests something is amiss. The upcoming AGM on 12 May 2021 may be an opportunity for shareholders to bring up any concerns they may have for the board’s attention. It would also be an opportunity for them to influence management through exercising their voting power on company resolutions, including CEO and executive remuneration, which could impact on firm performance in the future. From what we gathered, we think shareholders should be wary of raising CEO compensation until the company shows some marked improvement.

Check out our latest analysis for Antofagasta

How Does Total Compensation For Ivan Arriagada Herrera Compare With Other Companies In The Industry?

At the time of writing, our data shows that Antofagasta plc has a market capitalization of UK£19b, and reported total annual CEO compensation of US$3.9m for the year to December 2020. We note that's an increase of 60% above last year. We think total compensation is more important but our data shows that the CEO salary is lower, at US$589k.

On comparing similar companies in the industry with market capitalizations above UK£5.8b, we found that the median total CEO compensation was US$3.3m. From this we gather that Ivan Arriagada Herrera is paid around the median for CEOs in the industry.

On an industry level, roughly 65% of total compensation represents salary and 35% is other remuneration. In Antofagasta's case, non-salary compensation represents a greater slice of total remuneration, in comparison to the broader industry. It's important to note that a slant towards non-salary compensation suggests that total pay is tied to the company's performance.

Antofagasta plc's Growth

Over the last three years, Antofagasta plc has shrunk its earnings per share by 13% per year. It achieved revenue growth of 3.4% over the last year.

The decline in EPS is a bit concerning. And the modest revenue growth over 12 months isn't much comfort against the reduced EPS. These factors suggest that the business performance wouldn't really justify a high pay packet for the CEO. Looking ahead, you might want to check this free visual report on analyst forecasts for the company's future earnings..

Has Antofagasta plc Been A Good Investment?

Most shareholders would probably be pleased with Antofagasta plc for providing a total return of 102% over three years. So they may not be at all concerned if the CEO were to be paid more than is normal for companies around the same size.

To Conclude…

While the return to shareholders does look promising, it's hard to ignore the lack of earnings growth and this makes us question whether these strong returns will continue. Shareholders should make the most of the coming opportunity to question the board on key concerns they may have and revisit their investment thesis with regards to the company.

CEO compensation can have a massive impact on performance, but it's just one element. That's why we did some digging and identified 1 warning sign for Antofagasta that you should be aware of before investing.

Switching gears from Antofagasta, if you're hunting for a pristine balance sheet and premium returns, this free list of high return, low debt companies is a great place to look.

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

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

We often see insiders buying up shares in companies that perform well over the long term. The flip side of that is that there are more than a few examples of insiders dumping stock prior to a period of weak performance. So we'll take a look at whether insiders have been buying or selling shares in Stroud Resources Ltd. (CVE:SDR).

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, such insiders must disclose their trading activities, and not trade on inside information.

We would never suggest that investors should base their decisions solely on what the directors of a company have been doing. 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 Stroud Resources

The Last 12 Months Of Insider Transactions At Stroud Resources

Over the last year, we can see that the biggest insider purchase was by insider Eric Sprott for CA$3.0m worth of shares, at about CA$0.40 per share. Although we like to see insider buying, we note that this large purchase was at significantly below the recent price of CA$0.78. While it does suggest insiders consider the stock undervalued at lower prices, this transaction doesn't tell us much about what they think of current prices.

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!

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

Insider Ownership

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. Stroud Resources insiders own 57% of the company, currently worth about CA$22m based on the recent share price. Most shareholders would be happy to see this sort of insider ownership, since it suggests that management incentives are well aligned with other shareholders.

So What Does This Data Suggest About Stroud Resources Insiders?

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. With high insider ownership and encouraging transactions, it seems like Stroud Resources insiders think the business has merit. 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 Stroud Resources has 3 warning signs (1 makes us a bit uncomfortable!) that deserve your attention before going any further with your analysis.

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

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

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

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

GOLDEN, Colo., May 06, 2021 (GLOBE NEWSWIRE) — Golden Minerals Company (“Golden Minerals”, “Golden” or the “Company”) (NYSE American and TSX: AUMN) today provided financial results and a business summary for the quarter ending March 31, 2021.

First Quarter Summary Financial Results
(All currency expressed in approximate USD)

• Revenue $1.8 million, cost of metals sold $1.5 million and net operating margin $0.2 million in the first quarter 2021, all related to mining at the Company’s Rodeo gold-silver operations (the “Rodeo Property”). In the first quarter 2020, the Company recorded revenue of $1.2 million and a net operating margin of $0.6 million related to a lease of the Company’s oxide mill to Hecla Mining. That lease concluded on November 30, 2020.

• Cash and cash equivalents balance of $8.0 million as of March 31, 2021, compared to $9.7 million at year-end 2020 and $2.2 million as of March 31, 2020.

• Exploration expenses of $0.8 million compared to $1.6 million in the year ago period.

• Net loss of $3.2 million or $0.02 per share in the first quarter 2021, compared to a net loss of $3.3 million or $0.03 per share in the first quarter 2020.

First Quarter Business Summary

• Began processing material from the Rodeo mine at our Velardeña oxide plant in January 2021.

• Produced 1,559 gold equivalent ounces (“AuEq oz”) in doré and sold 1,054 AuEq oz. in doré, with the differential representing doré inventory at March 31, 2021 that will be recognized as sales in the second quarter 2021.

• Reported as-planned average start-up grades processed of 3.0 grams per tonne (“g/t”) gold and 14.3 g/t silver. Initiated a 2000-meter exploration drill program at Rodeo aimed at expanding the resource.

• Successfully commissioned the second ball mill and achieved full operational throughput at our Velardeña oxide plant in April 2021.

• Announced promising results from an initial drill program conducted at the district-scale Yoquivo gold-silver project (Chihuahua State, Mexico) and announced plans for a Phase II program which could begin in the second quarter 2021.

Warren Rehn, President and Chief Executive Officer of the Company, commented, “The first quarter of 2021 has been transformational for Golden Minerals, as we report results as a gold-silver producer for the first time since 2015. We are exceptionally pleased to have begun processing gold and silver from our Rodeo Property in January 2021. At the end of April, we surpassed our daily throughput goal at our oxide plant of 450 tpd with the successful commissioning of the second ball mill installed at the plant. We remain on track to achieve 2021 production guidance of 12,000-14,000 oz gold and 25,000-30,000 oz silver. We anticipate announcing further success as we anticipate reporting net income at the corporate level during the second quarter of 2021.”

First Quarter 2021 Financial Results

The Company reported revenue of $1.8 million in the first quarter 2021, all from the sale of gold and silver bearing doré bars from Rodeo operations in Mexico. Costs of metals sold, which include direct and indirect costs incurred to mine and process the products, were $1.5 million. Rodeo operations generated a positive net operating margin of over $0.2 million. Also during the first quarter, Golden received $1.8 million net of fees from equity sales under its existing At the Market Program (“ATM Program”) and $1.0 million from the exercise of warrants issued in past common stock offerings. Exploration expenses were $0.8 million in the first quarter, primarily reflecting exploration work at Yoquivo and the commencement of a drill program targeting resource expansion at Rodeo. The Company incurred $0.5 million in capital expenditures during the first quarter, primarily related to construction of a new regrind mill circuit related to the Rodeo Property. El Quevar project expense was $0.1 million in the quarter which includes costs of exploration and evaluation activities, care and maintenance and property holding costs, net of reimbursements from Barrick Gold under the terms of an Earn-In Agreement. Administrative expenses totaled $1.5 million in the first quarter 2021, including costs associated with being a public company that are incurred primarily by the Company’s corporate activities in support of the Rodeo Property, the Velardeña Properties, the Yoquivo project and the balance of the Company’s exploration portfolio. Golden reported a net loss of $3.2 million or $0.02 per share in the first quarter 2021 compared to a net loss of $3.3 million or $0.03 per share in the year ago period.

Twelve Month Financial Outlook

The Company ended the first quarter 2021 with a cash balance of $8.0 million and currently anticipates receiving approximately $13.0 to $15.0 million in net operating margin (defined as revenue from the sale of metals less costs of metals sold) from the Rodeo operation during the 12 months ending March 31, 2022. The Company’s currently forecasted expenditures during the 12 months ending March 31, 2022, apart from Rodeo costs of metals sold which are included in the net operating margin forecast, total $8.5 million and are as follows:

• $3.2 million on exploration activities and property holding costs associated with the Company’s portfolio of exploration properties located in Mexico, Argentina and Nevada, including project assessment and evaluation costs relating to additional exploration at Rodeo, Yoquivo and other properties;

• $0.5 million on capital expenditures related to the Rodeo Property;

• $0.6 million at the Velardeña Properties for care and maintenance;

• $0.5 million at the El Quevar project to fund care and maintenance and property holding costs, net of reimbursement from Barrick;

• $3.5 million on general and administrative costs; and

• $0.2 million related to an increase in working capital primarily related to increased inventories and receivables at the Rodeo operation.

Forecasted cash inflows do not include an anticipated second installment of $1.5 million due to Golden Minerals from Fabled Silver Gold Corp. in December 2021 under the terms of an agreement for the sale of the Company’s Santa Maria project. Rodeo estimates assume average realized metals prices of $1,800/oz gold and $25/oz silver.

Covid-19 Uncertainties

Activities at the Rodeo operation and the Velardeña Properties, including mining and processing, were not interrupted as a result of the pandemic during the first quarter 2021. The Company undertook several initiatives and installed multiple safety practices in 2020 in response to the pandemic and continues to carry out these initiatives and practices. The Company will continue to follow World Health Organization protocols at all its projects and offices. Business and financial projections are current as of the date of this news release but could be negatively impacted if business interruptions related to COVID-19 occur.

Additional information regarding first quarter 2021 financial results may be found in the Company’s 10-Q Quarterly Report which is available on the Golden Minerals website at www.goldenminerals.com.

About Golden Minerals

Golden Minerals is a Delaware corporation based in Golden, Colorado. The Company is primarily focused on producing gold and silver from its Rodeo Mine and advancing its Velardeña Properties in Mexico and, through partner funded exploration, its El Quevar silver property in Argentina, as well as acquiring and advancing selected mining properties in Mexico, Nevada and Argentina.

Financial Statements

CONDENSED CONSOLIDATED BALANCE SHEETS
(US Dollars, unaudited)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(US dollars, unaudited)

(1) Potentially dilutive shares have not been included because to do so would be anti-dilutive.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, and applicable Canadian securities legislation, including statements regarding the expected achievement of corporate profitability in the second quarter of 2021; financial projects related to net operating margin at the Rodeo operation; anticipated Phase II drilling program at Yoquivo; projected cash balances and anticipated spending during the 12 months ended March 31, 2022; and potential business restrictions and other matters related to the COVID-19 pandemic. These statements are subject to risks and uncertainties, including the overall impact of the COVID-19 pandemic, including the potential future re-suspension of non-essential activities in Mexico, including mining; lower than anticipated revenue or higher than anticipated costs at the Rodeo mine; declines in general economic conditions; changes in political conditions, in tax, royalty, environmental and other laws in the United States, Mexico or Argentina and other market conditions; and fluctuations in silver and gold prices. Golden Minerals assumes no obligation to update this information. Additional risks relating to Golden Minerals may be found in the periodic and current reports filed with the SEC by Golden Minerals, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2020.

For additional information please visit http://www.goldenminerals.com/ or contact:

Golden Minerals Company
Karen Winkler, Director of Investor Relations
(303) 839-5060
SOURCE: Golden Minerals Company

NEW YORK, May 5, 2021 /PRNewswire/ — OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 11,000 U.S. and global securities, today announced Rock Tech Lithium Inc. (TSX-V: RCK) (OTCQX: RCKTF), a lithium development and chemical technology company, has qualified to trade on the OTCQX® Best Market. Rock Tech Lithium Inc. upgraded to OTCQX from the Pink® market.

Rock Tech Lithium Inc. begins trading today on OTCQX under the symbol "RCKTF." U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.

"The rapidly growing global electric vehicle and energy storage markets have significantly increased US-based investor interest in the battery supply chain, especially with respect to the critical minerals underpinning these new technologies," said Dirk Harbecke, Rock Tech's chairman. "We aim to broaden our reach within the North American investing community as we achieve several exciting milestones in the coming months."

Securities Law USA PLLC acted as the company's OTCQX sponsor.

About Rock Tech Lithium Inc.
A lithium development and chemical technology ("ChemTech") company, Rock Tech Lithium Inc. is building the bridge from resources-rich Canada to process-focused Europe, building Europe's first lithium hydroxide converter which will be primarily fed by its 100%-owned lithium project, strategically located in Ontario, Canada. Leveraging its proprietary, patent-pending LiOH production technology, Rock Tech will reduce energy consumption and waste, providing a secure, sustainable source of lithium.

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 11,000 U.S. and global securities. Through OTC Link® ATS and OTC Link ECN, we connect a diverse network of broker-dealers that provide liquidity and execution services. We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.

To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

OTC Link ATS and OTC Link ECN are SEC regulated ATSs, operated by OTC Link LLC, member FINRA/SIPC.

Subscribe to the OTC Markets RSS Feed

Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

View original content to download multimedia:http://www.prnewswire.com/news-releases/otc-markets-group-welcomes-rock-tech-lithium-inc-to-otcqx-301284083.html

SOURCE OTC Markets Group Inc.

Devon Energy Corp. DVN reported first-quarter 2021 adjusted earnings of 45 cents, beating the Zacks Consensus Estimate of 35 cents per share by 28.6%. In the year-ago quarter, the company reported earnings of 13 cents per share.

GAAP earnings for the first quarter were 32 cents compared with 27 cents per share in the year-ago period.

Revenues

Total revenues of $1,762 million lagged the Zacks Consensus Estimate by 20.5%. The top line also declined 15.6% from the year-ago figure.

Devon Energy Corporation Price, Consensus and EPS Surprise

Devon Energy Corporation price-consensus-eps-surprise-chart | Devon Energy Corporation Quote

Production

Total net production for first-quarter 2021 touched 499,000 barrels of oil equivalent per day (Boe/d), up 43.4% year over year. Oil production averaged 268,000 barrels per day (Bbl/d), which increased 71.8% on a year-over-year basis, primarily due to strong contribution from Delaware and Williston Basin assets. Natural gas liquids production was also up 23.8% year over year.

Realized Prices

Realized oil prices for the quarter were $47.23 per barrel, down 5.1% from $49.73 in the year-ago period. Realized prices for natural gas liquids, however, were up 125.3% to $24.81 per barrel from $11.01 in the prior-year quarter.

Realized gas prices were up 75.8% to $2.76 per thousand cubic feet from $1.57 in the prior-year quarter.

Total oil equivalent realized prices — including cash settlements — were $34.67 per Boe, up 21.1% year over year.

Other Highlights

Total production expenses for the first quarter were $489 million, increasing 53.4% year over year. With capital programs focused on developing higher-margin production opportunities, oil and natural gas liquids volumes reached 74% of Devon Energy’s product mix for the quarter.

Financing costs for the reported quarter were $77 million, up from $65 million in the year-ago period.

Financial Highlights

As of Mar 31, 2021, the company had cash and cash equivalents including restricted cash of $1,878 million, up from $2,237 million as of Dec 31, 2020. It exited the first quarter with $4.9 billion of liquidity and no debt maturities till 2023.

As of Mar 31, 2021, long-term debt amounted to $7,042 million, up marginally from $4,298 million on Dec 31, 2020.

Devon Energy’s net cash from operating activities for first-quarter 2021 was $592 million, up 11.9% from the year-ago period.

Guidance

It expects total production for the second quarter in the range of 538,000-561,000 Boe/d.

Devon Energy’s oil production guidance for 2021 is projected in the range of 280,000-290,000 BBl/d. For 2021, total production is expected in the range of 529,000-559,000 Boe/d.

Capital expenditure for 2021 is expected within $1,720-$1,980 million, including upstream expenditure in the range of $1,600-$1,800 million.

Through cost-management initiatives, the company is on course to achieve cost savings of $600 million by 2021-end.

Other Releases

CNX Resources Corporation CNX reported first-quarter 2021 adjusted earnings of 36 cents per share, which surpassed the Zacks Consensus Estimate of 28 cents by 28.6%.

Matador Resources Company MTDR reported first-quarter 2021 adjusted earnings of 71 cents per share, which surpassed the Zacks Consensus Estimate of 39 cents by 82.1%.

Hess Corporation HES reported adjusted first-quarter 2021 earnings per share of 82 cents, beating the Zacks Consensus Estimate of earnings of 44 cents by 86.4%.

Zacks Rank

Devon Energy currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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VANCOUVER, British Columbia, May 05, 2021 (GLOBE NEWSWIRE) — George Sanders, President of Goldcliff Resource Corporation (“Goldcliff” or the “Company”) (GCN: TSX.V, GCFFF: OTCBB PINKS), reports that the trench sampling programme is well underway at the Company’s Kettle Valley Gold project, located near Rock Creek, B.C. Excavation of trenches began April 28, with nine trenches dug to date, along with several test pits. Goldcliff has an option to earn a 100% interest in this newly recognized epithermal mineral occurrence.

The property is located on the west side of the Rock Creek graben, a major north-south regional structure. Local scale structures investigated to date appear to strike north-south, so trenches were excavated in an east-west direction, perpendicular to strike. The area of interest is in a recent clear cut on a hillside. Trenches commenced as high as possible and were excavated down the slope of the hill. Rock exposures on a cliff face above the cut-block show extensive alteration/silicification and are thought to be the source of much of the mineralized float.

The Kettle Valley Gold project is a newly recognized precious metals occurrence. There is no evidence of previous staking, prospect pits, trenches or drill pads. Already observed in just a few days of field work is quartz-carbonate veining and silicification in several rock units. Significant structural preparation and fracturing is also evident. Rock exposed to date display some of the characteristics of the abundant mineralized float material; quartz-carbonate veining, multiple episodes of veining and stockwork, adularia, and bladed calcite.

Trench excavation was completed on May 4. Bedrock mapping and sampling is on-going. Prospecting, mapping, and detailed rock sampling of the cliff areas above the trenches will soon be undertaken.

Wayne Murton, P. Eng, qualified person as defined by National Instrument 43-101 supervised the preparation and verification of the technical information contained in this release.

For further information, please contact George W. Sanders, President, at 250-764-8879, toll free at 1-866-769-4802 or email at info@directroyalty.com.

GOLDCLIFF RESOURCE CORPORATION

Per: “George W. Sanders”

George W. Sanders, President

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

SUDBURY, ON / ACCESSWIRE / May 5, 2021 / Northern Superior Resources Inc. (TSXV:SUP) ("Northern Superior" or the "Company") and the Cree First Nation of Waswanipi ("CFNW") are pleased to announce that they have entered into a Mineral Exploration Agreement ("MEA") to facilitate the exploration of Northern Superior's 100% owned Lac Surprise gold exploration property. This MEA puts in place a framework for the CFNW and Northern Superior to work together before, during and after the Company's exploration activities within the CFNW traditional territory.

Dr. T.F. Morris, President and CEO of Northern Superior states: "We are very pleased for the opportunity to formally establish a working relationship with CFNW. Having both the support and involvement of the Community with our exploration program at Lac Surprise is key to the success of unlocking the mineral potential of the property".The progress of exploration activities for the Lac Surprise Property will be shared in real time with CFNW. I would like to thank Chief Happyjack as well as the council for their support in this process."

Deputy Chief Ronnie Ottereyes, Cree First Nation of Waswanipi states: "The protection and mitigation of sites of special wildlife interests is essential to the sustainability of our Cree way of life lived by active land users. The MEA will facilitate the consultation with active land users and sharing of traditional knowledge before, during and after the exploration activities are completed on the Lac Surprise property. Thanks to Mr. Morris' knowledge of Eeyou-Istchee, a working relationship was already growing with our Mining department making the tailoring and signing of the Lac Surprise MEA a formality. Meegwetch."

About Lac Surprise

Northern Superior has made a significant gold discovery on its 100% owned Lac Surprise property. Building off the success of the 2019 core drill program that led to the discovery of the Épervier Gold Zone, the Company launched a core drill program in 2020 that led to the discovery of the Falcon Gold Zone highlighted by two discovery holes: LCS20-13 (1.02 g/t gold and 3.92 g/t silver or 1.07 g/t AuEq over 35.5m with a high-grade interval of 7.70 g/t gold and 38.96 g/t silver or 8.22 g/t AuEq over 2.6m); and LCS19-005 (ext.) (1.44 g/t gold and 1.08 g/t silver or 1.55g/t AuEq over 44.9m, including 3.60 g/t gold and 1.92 g/t silver or 3.82g/t AuEq over 15m). The assays and associated geology strongly suggests that the Falcon Gold Zone is the extension of Nelligan gold deposit.*

Northern Superior recently announced that it has expanded the previously announced 10,000 meter ("m") core drill program on the Lac Surprise property (see Northern Superior press release, March 15, 2021) to a minimum of 13,000m, and will consist of two stages. Stage 1, expanded to 8,000m, is designed to better define and expand the newly discovered Falcon Gold Zone, believed to be the western extension of the neighboring IAMGold/Vanstar's Nelligan gold deposit located approximately 2.4 kilometers ("km") to the east with an inferred resource* of 3.2 million ounces at 1.02 g/t gold ("Au"). Stage 2, consisting of approximately 5,000m, is designed to test three early-stage gold targets west of Target 1: Target 3; the Fox Gold showing and the Confluence Area (see Northern Superior press release, April 19, 2021).

* Reference for IAMGOLD/Vanstar's Nelligan 3.2MM Inferred Gold Resource: "Carrier, Alain (M.Sc., P.Geo); Nadeau-Benoit, Vincent (P.Geo); Fauvre, Stéphane (PhD., P.Geo). October 22, 2019. NI 43-101 Technical Report and Initial Resource Estimate for the Nelligan Project, Québec, Canada."

Qualified Person

Michel Leblanc P.Geo., is a qualified person ("QP") within the meaning of National Instrument 43-101. As the QP for the Lac Surprise property, Mr. Leblanc has reviewed, and approved information disclosed in this press release.

More information on the Lac Surprise project can be found on the Company's website (www.nsuperior.com)

About Northern Superior

Northern Superior is a junior exploration company exploring for gold in the Superior Province of the Canadian Shield. The Company is currently focused on exploring its Lac Surprise property in Québec and its TPK property in Ontario. Northern Superior also has a number of other 100% owned properties in Ontario and Québec.

Northern Superior is a reporting issuer in British Columbia, Alberta, Ontario and Québec, and trades on the TSX Venture Exchange under the symbol SUP.

For more information, please contact:

Thomas F. Morris,
President and CEO
Northern Superior Resources Inc.
Tel: (705) 525 ‐0992

Joshua Blacksmith
Mining Coordinator
Cree First Nation of Waswanipi
Tel: (819) 753-2587

www.nsuperior.com

Forward Looking Statement:

Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

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

SOURCE: Northern Superior Resources Inc.

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KINGSTON, ON / ACCESSWIRE / May 5, 2021 / Focus Graphite Inc. (TSXV:FMS) (the "Company" or "Focus Graphite") announced today the closing of the first tranche of the previously announced non-brokered private placement (the "Offering") for gross proceeds of $1,822,800.08. The Company has issued 15,190,001 flow-through common shares (the "Flow-Through Shares") at a price of $0.12 per Flow-Through Share.

In connection with the closing of the first tranche of the Offering, the Company paid cash finder's fees totaling $117,236.00 and issued 976,966 non-transferable finder's warrants (the "Finders Warrants"). Each Finders Warrant entitles the holder to acquire one (1) non-flow-though common share of the Company at a price of $0.12 per common share until May 4, 2023.

The securities issued in connection with the closing of the first tranche of the Offering are subject to a four-month hold period expiring on September 5, 2021. The Offering is subject to the final approval of the TSX Venture Exchange.

Two insiders of the Company participated in the Offering and subscribed for an aggregate of 2,500,000 Flow-Through Shares representing an aggregate amount of $300,000. Participation of insiders of the Company in the Offering constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("61-101"). The Offering is exempt from the formal valuation and minority shareholder approval requirements of 61-101 as neither the fair market value of securities being issued to insiders nor the consideration being paid by insiders will exceed 25% of the Company's market capitalization. The Company did not file a material change report 21 days prior to the closing of the Offering as the details of the participation of insiders of the Company had not been confirmed at that time.

The proceeds of the Offering will be used to support the exploration program on the Company's Tétépisca Graphite Project located southwest of the Manicouagan reservoir in the Cote-Nord administrative region of north-eastern Quebec.

About Focus Graphite

Focus Graphite Inc. is an advanced exploration company with an objective of producing flake graphite concentrate at its wholly owned Lac Knife and Lac Tétépisca flake graphite projects located in the Côte-Nord administrative region of Québec. In a second stage, to meet Québec stakeholder interests in developing second transformation industries within the province and to add shareholder value, Focus is evaluating the feasibility of producing value added specialty graphite products including battery-grade spherical graphite.

Focus Graphite is a technology-oriented graphite development company with a vision for building long-term, sustainable shareholder value. Focus also holds a significant equity position in graphene applications developer Grafoid Inc. For more information about Focus Graphite, please visit www.focusgraphite.com.

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

Forward Looking Information

This news release may contain certain forward-looking information and statements, including without limitation, the closing of the Offerings, statements pertaining to the use of proceeds, and the Company's ability to obtain necessary approvals from the TSX Venture Exchange. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Focus Graphite's disclosure documents on the SEDAR website at www.sedar.com. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

Focus Graphite Investor Contact:

Scott Anderson
Investor Relations
(858) 229-7063
sanderson@nextcap-ir.com

Focus Graphite Inc.

Judith Mazvihwa-MacLean
CFO|
(613) 581-4040
jmazvihwa@focusgraphite.com

SOURCE: Focus Graphite Inc.

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NEW YORK, May 5, 2021 /PRNewswire/ — OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 11,000 U.S. and global securities, today announced Vanstar Mining Resources, Inc. (TSX-V: VSR) (OTCQX: VMNGF), a gold exploration company, has qualified to trade on the OTCQX® Best Market. Vanstar Mining Resources, Inc. upgraded to OTCQX from the Pink® market.

Vanstar Mining Resources, Inc. begins trading today on OTCQX under the symbol "VMNGF." U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.

JC St-Amour, President and CEO of Vanstar Mining commented, "Our US investor base is an important group of shareholders and I am pleased to have upgraded to the OTCQX Market to provide more transparency and increase our exposure to one of the largest markets globally. Vanstar has several highly prospective gold properties in Quebec including our flagship Nelligan project, which we jointly own with IAMGOLD Corp. The Nelligan project hosts a world class gold deposit, is located in one of the best mining jurisdictions in the world and is being jointly explored and developed by a successful and experienced mining Company, IAMGOLD. This year promises to be an exciting year for Vanstar with exploration results from Nelligan and our other gold properties expected throughout the year."

Securities Law USA, PLLC acted as the company's OTCQX sponsor.

About Vanstar Mining Resources, Inc.
Vanstar Mining Resources Inc. is a gold exploration company with properties located in Northern Québec at different stages of development. The Company owns a 25% interest in the Nelligan project (3.2 million inferred ounces Au, NI 43-101 October 2019) and 1% NSR. The Nelligan Project won the "Discovery of the Year" award at the 2019 Quebec Mineral Exploration Association Xplor Gala. Vanstar also owns 100% of the Felix property under development in the Chicobi Group (Abitibi mining camp, 65km East of Amex Perron property) and 100% of Amanda, a 7,677 ha property located on the Auclair formation with historic gold showings up to 12.1 g/t Au over 3 meters.

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 11,000 U.S. and global securities. Through OTC Link® ATS and OTC Link ECN, we connect a diverse network of broker-dealers that provide liquidity and execution services. We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.

To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

OTC Link ATS and OTC Link ECN are SEC regulated ATSs, operated by OTC Link LLC, member FINRA/SIPC.

Subscribe to the OTC Markets RSS Feed

Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

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SOURCE OTC Markets Group Inc.

PVG earnings call for the period ending May 4, 2021.

Just because a business does not make any money, does not mean that the stock will go down. For example, although software-as-a-service business Salesforce.com lost money for years while it grew recurring revenue, if you held shares since 2005, you'd have done very well indeed. Having said that, unprofitable companies are risky because they could potentially burn through all their cash and become distressed.

So should Minco Silver (TSE:MSV) shareholders be worried about its cash burn? For the purpose of this article, we'll define cash burn as the amount of cash the company is spending each year to fund its growth (also called its negative free cash flow). The first step is to compare its cash burn with its cash reserves, to give us its 'cash runway'.

See our latest analysis for Minco Silver

When Might Minco Silver Run Out Of Money?

You can calculate a company's cash runway by dividing the amount of cash it has by the rate at which it is spending that cash. In December 2020, Minco Silver had CA$33m in cash, and was debt-free. In the last year, its cash burn was CA$2.5m. That means it had a cash runway of very many years as of December 2020. While this is only one measure of its cash burn situation, it certainly gives us the impression that holders have nothing to worry about. You can see how its cash balance has changed over time in the image below.

How Is Minco Silver's Cash Burn Changing Over Time?

Because Minco Silver isn't currently generating revenue, we consider it an early-stage business. Nonetheless, we can still examine its cash burn trajectory as part of our assessment of its cash burn situation. During the last twelve months, its cash burn actually ramped up 52%. While this spending increase is no doubt intended to drive growth, if the trend continues the company's cash runway will shrink very quickly. Admittedly, we're a bit cautious of Minco Silver due to its lack of significant operating revenues. We prefer most of the stocks on this list of stocks that analysts expect to grow.

How Hard Would It Be For Minco Silver To Raise More Cash For Growth?

Given its cash burn trajectory, Minco Silver shareholders may wish to consider how easily it could raise more cash, despite its solid cash runway. Companies can raise capital through either debt or equity. Commonly, a business will sell new shares in itself to raise cash and drive growth. By looking at a company's cash burn relative to its market capitalisation, we gain insight on how much shareholders would be diluted if the company needed to raise enough cash to cover another year's cash burn.

Since it has a market capitalisation of CA$27m, Minco Silver's CA$2.5m in cash burn equates to about 9.5% of its market value. That's a low proportion, so we figure the company would be able to raise more cash to fund growth, with a little dilution, or even to simply borrow some money.

Is Minco Silver's Cash Burn A Worry?

It may already be apparent to you that we're relatively comfortable with the way Minco Silver is burning through its cash. In particular, we think its cash runway stands out as evidence that the company is well on top of its spending. Although its increasing cash burn does give us reason for pause, the other metrics we discussed in this article form a positive picture overall. After taking into account the various metrics mentioned in this report, we're pretty comfortable with how the company is spending its cash, as it seems on track to meet its needs over the medium term. On another note, we conducted an in-depth investigation of the company, and identified 3 warning signs for Minco Silver (1 shouldn't be ignored!) that you should be aware of before investing here.

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

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

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

KELOWNA, BC, May 4, 2021 /CNW/ – Cantex Mine Development Corp. (TSXV: CD) (the "Company") is pleased to report the first five of fourteen reverse circulation drill holes on its 100% owned Bruner property in Nevada.

Dr. Chuck Fipke reports

Bruner Property

The Bruner property is located in Nye County, Nevada, which hosts numerous gold mines. Its location is presented in Figure 1. Cantex completed 14 reverse circulation ("RC") holes on the project and has received results from five holes.

Table 1 presents the most significant intercepts from the first five holes, the locations of which are presented in Figure 2.

Table 1. Significant Bruner drill results.

Sample Preparation and Analysis

The drill holes reported in this press release were drilled using reverse circulation drilling with hole diameters between 140 and 146mm. A representative split of the sample was collected off the drill and sent for geochemical analysis. Another split of the sample has been stored on site. Samples were securely transported to the ALS Chemex Laboratory in Reno, Nevada. Here the samples were dried and crushed to 70% passing 2 mm before a 250 gram split was pulverized to 85% passing 75 micrometres. The samples were then analyzed using the AuME-TL43 technique which involves the Aqua Regia digestion of a 25 gram charge and analysis by ICP-MS and ICP-AES. Quality control included the insertion of blanks, standards and field duplicates

Weepah South Property

Drill testing at the Weepah South property determined that the source of the conductive geophysical anomaly was graphite interbedded in Paleozoic carbonate rocks rather than the hoped for conductive gold mineralized target. Analytical results confirmed that gold mineralization was not present and no additional work is planned for these claims.

Baxter Springs Property

Five drill holes were completed on the 100% owned Baxter Springs property and analytical results are pending.

Carico Lake Property

Roads and three drill pads have been constructed at the Carico Lake property. Three holes totalling 1,100 metres are to be drilled as soon as a suitable drill is available.

Conclusion

The Cantex directors are most encouraged by the Bruner property results; the five holes completed to date indicate a Nevada-style gold-arsenic-antimony system has been intersected.

Structural geological mapping will be undertaken after the remaining drill results are received. The focus of the mapping will be to assist in determining where the centre of the mineralized system is. In addition, work will include rock chip sampling of the road cuts created by the access roads leading to the 14 drill sites. It is hoped that these results as well as the forthcoming analytical results from the nine remaining holes will further define gold mineralization on the Bruner property.

The technical information and results reported here have been reviewed by Mr. Chad Ulansky P.Geol., a Qualified Person under National Instrument 43-101, who is responsible for the technical content of this release.

Signed,

Charles Fipke

Charles Fipke

Chairman

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Information set forth in this news release includes forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation; statements about the terms and completion of the proposed sale transaction are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks identified in the management discussion and analysis section of the Company's interim and most recent annual financial statements or other reports and filings with Canadian securities regulators. Forward looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the respective companies undertake no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

SOURCE Cantex Mine Development Corp.

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