We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. 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 shareholders might well want to know whether insiders have been buying or selling shares in International Lithium Corp. (CVE:ILC).

Do Insider Transactions Matter?

Most investors know that it is quite permissible for company leaders, such as directors of the board, to buy and sell stock in the company. However, most countries require that the company discloses such transactions to the market.

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. As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise'.

See our latest analysis for International Lithium

The Last 12 Months Of Insider Transactions At International Lithium

insider Peter Kucak previously made an even bigger purchase of CA$403k worth of shares at a price of CA$0.055 per share. We do like to see buying, but this purchase was made at well below the current price of CA$0.085. 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.

Happily, we note that in the last year insiders paid CA$1.3m for 22.93m shares. But insiders sold 12.95m shares worth CA$1.0m. In the last twelve months there was more buying than selling by International Lithium insiders. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!

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

Insiders at International Lithium Have Bought Stock Recently

There has been significantly more insider buying, than selling, at International Lithium, over the last three months. Insiders spent CA$1.1m on shares. On the other hand, insiders netted CA$903k by selling. The buying outweighs the selling, which suggests that insiders may believe the company will do well in the future.

Does International Lithium Boast High Insider Ownership?

For a common shareholder, it is worth checking how many shares are held by company insiders. We usually like to see fairly high levels of insider ownership. It appears that International Lithium insiders own 35% of the company, worth about CA$5.6m. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.

So What Does This Data Suggest About International Lithium Insiders?

It is good to see recent purchasing. And an analysis of the transactions over the last year also gives us confidence. However, we note that the company didn't make a profit over the last twelve months, which makes us cautious. Insiders likely see value in International Lithium shares, given these transactions (along with notable insider ownership of the company). While we like knowing what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. To that end, you should learn about the 5 warning signs we've spotted with International Lithium (including 2 which are potentially serious).

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

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

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

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

Vancouver, British Columbia–(Newsfile Corp. – April 26, 2021) – Bear Creek Mining Corporation (TSXV: BCM) (OTCQX: BCEKF) (BVL: BCM) ("Bear Creek" or the "Company") announces that its Board of Directors has authorized and approved the grant of a cumulative total of 1,000,000 Deferred Share Units (the "DSUs") to directors and officers the Company, including an employee performing investor relations activities. This grant of DSUs is made pursuant to the Company's Long Term Incentive Plan (the "LTIP"), which was approved by shareholders on June 2, 2016. The DSUs are subject to vesting provisions as detailed in the LTIP.

On behalf of the Board of Directors,

Anthony Hawkshaw
President and CEO

For further information contact:
Barbara Henderson – VP Corporate Communications
Direct: 604-628-1111
E-mail: barb@bearcreekmining.com
Or visit www.bearcreekmining.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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/81684

Individual and institutional investors as well as advisors are invited to log-on to VirtualInvestorConferences.com to view presentations

NEW YORK, April 26, 2021 /CNW/ – Virtual Investor Conferences, the leading proprietary investor conference series, today announced that the presentations from the April 22^nd Critical & Strategic Mineral Investment Opportunities in Quebec investor conference are now available for on-demand viewing.

REGISTER OR LOGIN NOW TO VIEW THE PRESENTATIONS: https://bit.ly/2RXmo1J

The company presentations will be available 24/7 for 90 days. Investors, advisors and analysts may download shareholder materials from the "virtual trade booth" for the next three weeks.

Presentations:

To facilitate investor relations scheduling and to view a complete calendar of Virtual Investor Conferences, please visit www.virtualinvestorconferences.com.

About Virtual Investor Conferences^®
Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly-traded companies to meet and present directly with investors.

A real-time solution for investor engagement, Virtual Investor Conferences is part of OTC Market Group's suite of investor relations services specifically designed for more efficient Investor Access. Replicating the look and feel of on-site investor conferences, Virtual Investor Conferences combine leading-edge conferencing and investor communications capabilities with a comprehensive global investor audience network.

SOURCE VirtualInvestorConferences.com

View original content: http://www.newswire.ca/en/releases/archive/April2021/26/c1322.html

Does the April share price for IGO Limited (ASX:IGO) reflect what it's really worth? Today, we will estimate the stock's intrinsic value by taking the forecast future cash flows of the company and discounting them back to today's value. Our analysis will employ the Discounted Cash Flow (DCF) model. Before you think you won't be able to understand it, just read on! It's actually much less complex than you'd imagine.

We generally believe that a company's value is the present value of all of the cash it will generate in the future. However, a DCF is just one valuation metric among many, and it is not without flaws. If you still have some burning questions about this type of valuation, take a look at the Simply Wall St analysis model.

Check out our latest analysis for IGO

The calculation

We are going to use a two-stage DCF model, which, as the name states, takes into account two stages of growth. The first stage is generally a higher growth period which levels off heading towards the terminal value, captured in the second 'steady growth' period. To begin with, we have to get estimates of the next ten years of cash flows. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.

Generally we assume that a dollar today is more valuable than a dollar in the future, so we need to discount the sum of these future cash flows to arrive at a present value estimate:

10-year free cash flow (FCF) estimate

("Est" = FCF growth rate estimated by Simply Wall St)
Present Value of 10-year Cash Flow (PVCF) = AU$2.1b

The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. The Gordon Growth formula is used to calculate Terminal Value at a future annual growth rate equal to the 5-year average of the 10-year government bond yield of 2.0%. We discount the terminal cash flows to today's value at a cost of equity of 7.5%.

Terminal Value (TV)= FCF₂₀₃₀ × (1 + g) ÷ (r – g) = AU$311m× (1 + 2.0%) ÷ (7.5%– 2.0%) = AU$5.7b

Present Value of Terminal Value (PVTV)= TV / (1 + r)¹⁰= AU$5.7b÷ ( 1 + 7.5%)¹⁰= AU$2.8b

The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is AU$4.9b. The last step is to then divide the equity value by the number of shares outstanding. Compared to the current share price of AU$7.1, the company appears around fair value at the time of writing. Remember though, that this is just an approximate valuation, and like any complex formula – garbage in, garbage out.

Important assumptions

We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows. Part of investing is coming up with your own evaluation of a company's future performance, so try the calculation yourself and check your own assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at IGO as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 7.5%, which is based on a levered beta of 1.059. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.

Next Steps:

Although the valuation of a company is important, it is only one of many factors that you need to assess for a company. It's not possible to obtain a foolproof valuation with a DCF model. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" For instance, if the terminal value growth rate is adjusted slightly, it can dramatically alter the overall result. For IGO, there are three additional factors you should look at:

1. Risks: As an example, we've found 3 warning signs for IGO that you need to consider before investing here.

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

3. Other High Quality Alternatives: Do you like a good all-rounder? Explore our interactive list of high quality stocks to get an idea of what else is out there you may be missing!

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

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

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

VANCOUVER, BC / ACCESSWIRE / April 26, 2021 / Infinite Ore Corp. (the "Company") (TSXV:ILI)(OTCQB:ARXRF) is pleased to announce results from a VTEM Plus geophysical survey completed this past winter on the western portion of its Eastern Vision project located in Red Lake, Ontario. Results from the VTEM survey are summarized in the two geophysical contour maps shown below (Figures 1 and 2). The magnetic map highlights several contrasting bands of high and low values some of them marking the contact horizon were Volcanic Massive Sulphide (VMS) mineralization occurred, whereas the electromagnetic contour map singles out most of the small conductive VMS bodies and indicate new potential conductive anomalous zones that warrant follow-up investigation. Such areas include a large anomaly located in the North West of the Confederation North property as well as a very large anomaly on the eastern portion of the Confederation South property. In addition, the Company reports that its drilling program is nearing completion and is awaiting results. Drilling to date on the Confederation North property has intercepted some areas of massive sulphide mineralization as well as a significant mineralized fault zone.

Figure 1. dB/dT calculated Time Constant (TAU) contour map, VTEM plus survey, Eastern Vision project.

Figure 2. Calculated Vertical Gradient (CVG) of the Total Magnetic Intensity contour map, VTEM plus survey, Eastern Vision project.

J.C St-Amour, President of Infinite Ore commented, "The VTEM survey has given us some interesting targets for follow-up. We have flown a high-resolution mag survey over the large anomaly on Confederation North and are awaiting results. We are planning a ground prospecting program over the very large anomaly on Confederation South, an area that has seen little exploration, to better understand its source. In addition, there are a number of smaller anomalies that are prospective for VMS style mineralization that deserve additional exploration work."

Dr. Michel Bolly, P. Geo, is the qualified person as defined by National Instrument 43-101. He has designed and is managing the current exploration program on behalf of the Company and is responsible for approving the technical contents of this press release.

About Infinite Ore Corp.

Infinite Ore is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company is earning into a large land package with the potential for VMS and gold mineralization in the Confederation Lake assemblage belt near Red Lake, Ontario. The company also holds the Jackpot lithium property located near Nipigon, Ontario.

ON BEHALF OF THE BOARD
"J.C. St-Amour"
J.C. St-Amour, President

FOR FURTHER INFORMATION, PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770

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

FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).

SOURCE: Infinite Ore Corp.

View source version on accesswire.com:
https://www.accesswire.com/642120/Infinite-Ore-Reports-Encouraging-VTEM-Plus-Survey-Results

Vancouver, British Columbia–(Newsfile Corp. – April 26, 2021) – Pure Energy Minerals (TSXV: PE) (OTCQB: PEMIF) (the "Company" or "Pure Energy") reports that it has entered into a Fourth Amending Agreement to the Clayton Valley Option Agreement ("the Option Agreement") with GeoXplor Corp. ("GeoXplor") and Clayton Valley Lithium ("CVL"). The Option Agreement covers mineral claims in Clayton Valley, Nevada that were the subject of the Company's original agreement with GeoXplor and CVL in 2014, as well as those previously held by Lithium X Energy Corp ("Lithium X"), which were consolidated by the Company in the Option Agreement dated May 10, 2017.

Under the terms of the Fourth Amending Agreement (the "Amendment") and subject to approval by the TSX Venture Exchange, the Company has agreed to issue USD$500,000 of its capital to GeoXplor in consideration for entering into the Amendment (the "Consideration Shares"). The number of Consideration Shares to be issued shall be calculated using the volume weighted average price ("VWAP") of Pure Energy shares for the 20 trading days immediately preceding either the date of TSX Venture Exchange acceptance or May 1, 2021, as applicable, converted into US currency using the average Bank of Canada foreign exchange rate for such 20 day period.

In exchange for the consideration, the Company and GeoXplor have agreed to extension of cash payments and issuance of shares, as follows:

The above payment obligations accrue to Pure Energy's strategic partner, Schlumberger, under Pure Energy's Earn-in Agreement signed with Schlumberger Technology Corporation on May 28, 2019. Under the Fourth Amending Agreement, Schlumberger will contribute shares in (i) and (ii) from Schlumberger's investment holding in Pure Energy shares, and will reimburse to Pure Energy 75% of the value of Company shares to be issued on December 31, 2023. Pure Energy has agreed to pay up to $10,000 in legal fees related to the drafting of the amendment agreement to the Option Agreement.

The requirement for an independent Feasibility Study has been removed in lieu of an internal Final Investment Decision by Schlumberger, which will include many of the same provisions as a Feasibility Study.

"The Amendment provides our partner Schlumberger with the flexibility and scheduling to coincide with implementation of the lithium brine pilot plant foreseen in our Earn-in Agreement. Plant construction is expected to begin in the second half of 2021 and is progressing on schedule," commented Mary Little, Pure Energy director.

About Pure Energy Minerals

Pure Energy Minerals is a lithium resource developer that is driven to become a low-cost supplier for the growing lithium battery industry. Pure Energy has consolidated a pre-eminent land position at its Clayton Valley ("CV") Project in the Clayton Valley of central Nevada for the exploration and development of lithium resources, comprising 948 claims over 23,360 acres (9,450 hectares), representing the largest mineral land holdings in the valley. Pure Energy's Clayton Valley Project adjoins and surrounds on three sides the Silver Peak lithium brine mine operated by Albemarle Corporation. Drilling of bore holes CV-01 through CV-08 were completed together with a revised mineral resource and a Preliminary Economic Assessment ("PEA") for the Clayton Valley Project (news releases of June 26, 2017 and April 5, 2018).

Pure Energy's strategic partner, Schlumberger Technology Corp. ("SLB"), is the operator of the Clayton Valley Project. On May 29, 2019, Pure Energy and SLB signed an Earn-In agreement over the CV Project which requires significant investment by SLB at the Project, to include the design and construction of a pilot plant capable of processing lithium-bearing brines for high-quality lithium hydroxide monohydrate ("lithium hydroxide" or "LiOH∙H2O") and/or lithium carbonate products at a specified rate. SLB plans to utilize both in-house and commercially available technology in the design of the CV pilot plant. SLB's costs, technical parameters and ultimate technology are anticipated to differ from the published PEA. For further details regarding SLB's participation, please refer to Pure Energy's Annual General and Special Meeting Management Information Circular dated April 4, 2019, available on SEDAR.com.

On January 3, 2019, the Nevada Division of Water Resources ("NDWR") approved and granted a Finite Term Water Right to Pure Energy, through its wholly-owned subsidiary Esmeralda Minerals LLC, for the extraction of up to 50 acre-feet of water during a 5-year period from the CV properties. This water right is deemed sufficient for brine testing requirements and SLB's future pilot plant facility. In July of 2020, the CV-09 well was completed and results were published by Pure Energy on October 14, 2020.

Quality Assurance

Walter Weinig, Professional Geologist and Qualified Person, MMSA registration #01529QP, has reviewed and approved the scientific and technical information presented in this news release for Pure Energy Minerals Ltd. He is a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

On behalf of the Board of Directors,

"Mary L. Little"
Director, Pure Energy Minerals Ltd.

CONTACT:

Pure Energy Minerals Limited (www.pureenergyminerals.com)
Email: info@pureenergyminerals.com
Telephone – 604 608 6611

Cautionary Statements and Forward-Looking Information

The information in this news release contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release may include future exploration and development on the CV Project. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.

The Company does not undertake to update any forward-looking information, except as required by applicable laws.

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/81789

Hochschild Mining plc (LON:HOC) shareholders are probably feeling a little disappointed, since its shares fell 6.0% to UK£1.95 in the week after its latest annual results. Results overall were not great, with earnings of US$0.03 per share falling drastically short of analyst expectations. Meanwhile revenues hit US$622m and were slightly better than forecasts. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. Readers will be glad to know we've aggregated the latest statutory forecasts to see whether the analysts have changed their mind on Hochschild Mining after the latest results.

View our latest analysis for Hochschild Mining

After the latest results, the eight analysts covering Hochschild Mining are now predicting revenues of US$830.8m in 2021. If met, this would reflect a major 34% improvement in sales compared to the last 12 months. Per-share earnings are expected to surge 807% to US$0.27. Before this earnings report, the analysts had been forecasting revenues of US$836.8m and earnings per share (EPS) of US$0.28 in 2021. So it looks like there's been a small decline in overall sentiment after the recent results – there's been no major change to revenue estimates, but the analysts did make a small dip in their earnings per share forecasts.

It might be a surprise to learn that the consensus price target was broadly unchanged at US$3.66, with the analysts clearly implying that the forecast decline in earnings is not expected to have much of an impact on valuation. That's not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. Currently, the most bullish analyst values Hochschild Mining at US$3.32 per share, while the most bearish prices it at US$2.19. These price targets show that analysts do have some differing views on the business, but the estimates do not vary enough to suggest to us that some are betting on wild success or utter failure.

One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. The analysts are definitely expecting Hochschild Mining's growth to accelerate, with the forecast 34% annualised growth to the end of 2021 ranking favourably alongside historical growth of 2.4% per annum over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to grow their revenue at 2.0% per year. It seems obvious that, while the growth outlook is brighter than the recent past, the analysts also expect Hochschild Mining to grow faster than the wider industry.

The Bottom Line

The biggest concern is that the analysts reduced their earnings per share estimates, suggesting business headwinds could lay ahead for Hochschild Mining. Fortunately, they also reconfirmed their revenue numbers, suggesting sales are tracking in line with expectations – and our data suggests that revenues are expected to grow faster than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.

With that said, the long-term trajectory of the company's earnings is a lot more important than next year. We have forecasts for Hochschild Mining going out to 2023, and you can see them free on our platform here.

We don't want to rain on the parade too much, but we did also find 5 warning signs for Hochschild Mining that you need to be mindful of.

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 can readily understand why investors are attracted to unprofitable companies. By way of example, Bannerman Resources (ASX:BMN) has seen its share price rise 198% over the last year, delighting many shareholders. But the harsh reality is that very many loss making companies burn through all their cash and go bankrupt.

So notwithstanding the buoyant share price, we think it's well worth asking whether Bannerman Resources' cash burn is too risky. In this article, we define cash burn as its annual (negative) free cash flow, which is the amount of money a company spends each year to fund its growth. Let's start with an examination of the business' cash, relative to its cash burn.

View our latest analysis for Bannerman Resources

Does Bannerman Resources Have A Long Cash Runway?

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. As at December 2020, Bannerman Resources had cash of AU$3.0m and no debt. Looking at the last year, the company burnt through AU$2.2m. So it had a cash runway of approximately 16 months from December 2020. That's not too bad, but it's fair to say the end of the cash runway is in sight, unless cash burn reduces drastically. You can see how its cash balance has changed over time in the image below.

How Is Bannerman Resources' Cash Burn Changing Over Time?

Bannerman Resources didn't record any revenue over the last year, indicating that it's an early stage company still developing its business. So while we can't look to sales to understand growth, we can look at how the cash burn is changing to understand how expenditure is trending over time. With the cash burn rate up 5.7% in the last year, it seems that the company is ratcheting up investment in the business over time. However, the company's true cash runway will therefore be shorter than suggested above, if spending continues to increase. Clearly, however, the crucial factor is whether the company will grow its business going forward. So you might want to take a peek at how much the company is expected to grow in the next few years.

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

Since its cash burn is increasing (albeit only slightly), Bannerman Resources shareholders should still be mindful of the possibility it will require more cash in the future. Generally speaking, a listed business can raise new cash through issuing shares or taking on debt. One of the main advantages held by publicly listed companies is that they can sell shares to investors to raise cash and fund growth. By looking at a company's cash burn relative to its market capitalisation, we gain insight on how much shareholders would be diluted if the company needed to raise enough cash to cover another year's cash burn.

Bannerman Resources has a market capitalisation of AU$149m and burnt through AU$2.2m last year, which is 1.5% of the company's market value. So it could almost certainly just borrow a little to fund another year's growth, or else easily raise the cash by issuing a few shares.

Is Bannerman Resources' Cash Burn A Worry?

On this analysis of Bannerman Resources' cash burn, we think its cash burn relative to its market cap was reassuring, while its increasing cash burn has us a bit worried. While we're the kind of investors who are always a bit concerned about the risks involved with cash burning companies, the metrics we have discussed in this article leave us relatively comfortable about Bannerman Resources' situation. Taking a deeper dive, we've spotted 4 warning signs for Bannerman Resources you should be aware of, and 2 of them are a bit unpleasant.

Of course Bannerman Resources may not be the best stock to buy. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks that insiders are buying.

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.

Sydney, Australia–(Newsfile Corp. – April 23, 2021) – Austral Gold Limited (ASX: AGD) (TSXV: AGLD) ('the Company" or "Austral") is pleased to advise that the following documents were dispatched to shareholders today for its Annual General Meeting to be held on Thursday, 27 May, 2021 at 8:00am AEST in Sydney Australia:

• Notice of Annual General Meeting

• Shareholder proxy for shares traded on the ASX (if applicable)

• Shareholder proxy for shares traded on the TSX.V (if applicable)

• Annual Report (to those shareholders who requested it)

The Notice of Annual General Meeting and the two sample Proxy Forms will be available at http://www.asx.com.au, on the Company's website at www.australgold.com and will be filed on Sedar under the Company's profile.

About Austral Gold

Austral Gold Limited is a growing gold and silver mining, development and exploration company building a portfolio of quality assets in Chile, the USA and Argentina. Austral owns a 100% interest in the Guanaco/Amancaya mine in Chile and the Casposo Mine (currently on care and maintenance) in Argentina, and a non-controlling interest in the Rawhide Mine in Nevada, USA. In addition, Austral owns an attractive portfolio of exploration projects in the Paleocene Belt in Chile (including those acquired in the recent acquisition of Revelo Resources Corp), a 19.2% interest in Pampa Metals and a 100% interest in the Pingüino project in Santa Cruz, Argentina. Austral Gold Limited is listed on the TSX Venture Exchange (TSXV: AGLD) and the Australian Securities Exchange. (ASX: AGD). For more information, please consult Austral's website at www.australgold.com.

Release approved by the Chief Executive Officer of Austral Gold, Stabro Kasaneva.

For additional information please contact:

Jose Bordogna
Chief Financial Officer
Austral Gold Limited
jose.bordogna@australgold.com
+54 (11) 4323 7558

David Hwang
Company Secretary
Austral Gold Limited
info@australgold.com
+61 (2) 9698 5414448

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/81558

OTTAWA, ON, April 23, 2021 /CNW/ – Northern Shield Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to provide an update on exploration at the Company's epithermal gold-silver projects in Atlantic Canada.

On the Shot Rock Gold-Silver ("Shot Rock") Property in Nova Scotia, eight drill-holes have been completed in the current phase of drilling with the size of the program expanded from the planned 2,700 metres to just over 3,400 metres. All but one drill hole intersected quartz veining and sulphide mineralization consistent with epithermal gold-silver systems and with the previously reported high gold and silver assay results from drill hole 20SR-04 (see Company Press Release April 29, 2020). Assays are pending for over 1,200 core samples that have been sent for analysis. The drill holes are currently being surveyed for structural information and the drill-rig remains on site. A drill hole plan map (Figure 1) accompanying this release shows the collar locations and drill hole traces for holes completed for this phase. Northern Shield has now increased its interest in Shot Rock to approximately 86%. Shot Rock is being explored for low sulphidation epithermal gold-silver mineralization.

Line-cutting has commenced at the Root & Cellar Property ("Root & Cellar") in Newfoundland in preparation for ground geophysical surveying (Spectral IP/Resistivity) which is anticipated to start in May. Prospecting and further rock grab sampling is also underway at Root & Cellar including work on the claims that were recently acquired (see Company Press Release March 29, 2021). The Company can earn a 100% interest in the Root & Cellar Property, which is also being explored for epithermal gold-silver mineralization (intermediate to high sulphidation) and for porphyry copper.

"We are very pleased with the visual observations to date from the drilling program at Shot Rock and are looking forward to assay results, which we expect to start receiving in about 4-8 weeks."

– Northern Shield President and CEO, Ian Bliss

The drilling program was contracted to Logan Drilling Group based in Stewiacke, Nova Scotia, and was overseen by Christine Vaillancourt, P. Geo., the Company's Chief Geologist and a Qualified Person under National Instrument 43-101 who reviewed and approved the technical information contained in this press release.

Northern Shield Resources Inc. is a Canadian-based company focused on generating high-quality exploration programs with experience in many geological terranes. It is known as a leader in executing grass roots exploration programs using a model driven approach. Seabourne Resources Inc. is a wholly-owned subsidiary of Northern Shield focussing on epithermal gold and related deposits in Atlantic Canada.

Forward-Looking Statements Advisory

This news release contains statements concerning the exploration plans, results and potential for epithermal gold deposits, and other mineralization at the Company's Atlantic Canada properties, geological, and geometrical analyses of the properties and comparisons of the properties to known epithermal gold deposits and other expectations, plans, goals, objectives, assumptions, information or statements about future, conditions, results of exploration or performance that may constitute forward-looking statements or information under applicable securities legislation. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect.

Although Northern Shield believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward–looking statements because Northern Shield can give no assurance that such expectations will prove to be correct. Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by Northern Shield and described in the forward–looking statements or information. These risks and uncertainties include, but are not limited to, risks associated with geological, geometrical and geophysical interpretation and analysis, the ability of Northern Shield to obtain financing, equipment, supplies and qualified personnel necessary to carry on exploration and the general risks and uncertainties involved in mineral exploration and analysis.

The forward-looking statements or information contained in this news release are made as of the date hereof and Northern Shield undertakes no obligation to update publicly or revise any forward–looking statements or information, whether as a result of new information, future events or otherwise, unless so required by 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.

SOURCE Northern Shield Resources Inc.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2021/23/c5060.html

VANCOUVER, British Columbia, April 22, 2021 (GLOBE NEWSWIRE) — Planet Ventures Inc. (TSX-V: PXI; FSE: P6U; US:PNXPF) (“Planet” or the “Company”) is pleased to announce that further to its news release dated March 15, 2021 the Company has closed its non-brokered private placement of 4,050,000 units of the Company (the “Units”) at $0.225 per Unit for gross proceeds of $911,250.00 (the “Offering”).

Each Unit consists of one common share in the capital of the Company (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder thereof to acquire one additional common share (a “Warrant Share”) at a price of $0.30 per Warrant Share for a period of 36 months following the closing of the Offering.

In connection with the Offering, the Company paid finder’s fee in the aggregate sum of $1,575.00 and issued 7,000 common share purchase warrants (the “Finders’ Warrants”) to certain eligible finders. Each Finders’ Warrant entitles the holder to purchase one common share in the capital of the Company (a “Finder’s Share”), exercisable at a price of $0.30 per Finder’s Share for a period of 36 months following the closing of the Offering.

All securities issued in connection with the Offering will be subject to a statutory four month hold period expiring on August 23, 2021 in accordance with applicable securities legislation.

The Company intends to use the net proceeds raised from the Offering for general corporate purposes, including general and administrative expenses and investment purposes.

About Planet Ventures Inc.

Planet Ventures Inc. (TSXV: PXI), is an investment issuer listed on the TSX Venture Exchange, that is focused on investing in disruptive companies and industries that have high growth potential. Our unique portfolio driven investment policies provide our investors with access to emerging and high-growth opportunities while shielding them from any formidable downside.

For more information, please visit our website: planetventuresinc.com

ON BEHALF OF THE BOARD

“Zula Kropivnitski”
Zula Kropivnitski

Chief Financial Officer and Director

INVESTOR RELATIONS CONTACT

PLANET VENTURES INC.
Tel: (604) 681-0084
Fax: (604) 681-0094
Email: info@planetventuresinc.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.

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the permanent loss of capital.' When we think about how risky a company is, we always like to look at its use of debt, since debt overload can lead to ruin. As with many other companies Eden Innovations Ltd (ASX:EDE) makes use of debt. But should shareholders be worried about its use of debt?

What Risk Does Debt Bring?

Debt assists a business until the business has trouble paying it off, either with new capital or with free cash flow. Part and parcel of capitalism is the process of 'creative destruction' where failed businesses are mercilessly liquidated by their bankers. However, a more frequent (but still costly) occurrence is where a company must issue shares at bargain-basement prices, permanently diluting shareholders, just to shore up its balance sheet. Of course, plenty of companies use debt to fund growth, without any negative consequences. The first thing to do when considering how much debt a business uses is to look at its cash and debt together.

View our latest analysis for Eden Innovations

How Much Debt Does Eden Innovations Carry?

As you can see below, at the end of December 2020, Eden Innovations had AU$5.10m of debt, up from AU$836.4k a year ago. Click the image for more detail. But it also has AU$5.54m in cash to offset that, meaning it has AU$446.5k net cash.

How Strong Is Eden Innovations' Balance Sheet?

According to the last reported balance sheet, Eden Innovations had liabilities of AU$5.52m due within 12 months, and liabilities of AU$532.6k due beyond 12 months. On the other hand, it had cash of AU$5.54m and AU$324.8k worth of receivables due within a year. So its liabilities outweigh the sum of its cash and (near-term) receivables by AU$188.6k.

This state of affairs indicates that Eden Innovations' balance sheet looks quite solid, as its total liabilities are just about equal to its liquid assets. So it's very unlikely that the AU$72.7m company is short on cash, but still worth keeping an eye on the balance sheet. Despite its noteworthy liabilities, Eden Innovations boasts net cash, so it's fair to say it does not have a heavy debt load! There's no doubt that we learn most about debt from the balance sheet. But it is Eden Innovations's earnings that will influence how the balance sheet holds up in the future. So if you're keen to discover more about its earnings, it might be worth checking out this graph of its long term earnings trend.

Over 12 months, Eden Innovations reported revenue of AU$2.8m, which is a gain of 36%, although it did not report any earnings before interest and tax. With any luck the company will be able to grow its way to profitability.

So How Risky Is Eden Innovations?

We have no doubt that loss making companies are, in general, riskier than profitable ones. And we do note that Eden Innovations had an earnings before interest and tax (EBIT) loss, over the last year. And over the same period it saw negative free cash outflow of AU$8.6m and booked a AU$7.9m accounting loss. With only AU$446.5k on the balance sheet, it would appear that its going to need to raise capital again soon. Eden Innovations's revenue growth shone bright over the last year, so it may well be in a position to turn a profit in due course. Pre-profit companies are often risky, but they can also offer great rewards. The balance sheet is clearly the area to focus on when you are analysing debt. But ultimately, every company can contain risks that exist outside of the balance sheet. For example, we've discovered 6 warning signs for Eden Innovations (2 make us uncomfortable!) that you should be aware of before investing here.

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

This article by Simply Wall St is general in nature. 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.

Wall Street expects a year-over-year increase in earnings on higher revenues when Great Western Bancorp (GWB) reports results for the quarter ended March 2021. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.

The earnings report, which is expected to be released on April 29, 2021, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.

Zacks Consensus Estimate

This holding company for Great Western Bank is expected to post quarterly earnings of $0.61 per share in its upcoming report, which represents a year-over-year change of +17.3%.

Revenues are expected to be $117.86 million, up 15.7% from the year-ago quarter.

Estimate Revisions Trend

The consensus EPS estimate for the quarter has been revised 8.59% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings Whisper

Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model — the Zacks Earnings ESP (Expected Surprise Prediction) — has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Great Western Bancorp?

For Great Western Bancorp, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +5.46%.

On the other hand, the stock currently carries a Zacks Rank of #1.

So, this combination indicates that Great Western Bancorp will most likely beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?

Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Great Western Bancorp would post earnings of $0.35 per share when it actually produced earnings of $0.75, delivering a surprise of +114.29%.

Over the last four quarters, the company has beaten consensus EPS estimates just once.

Bottom Line

An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Great Western Bancorp appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

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

Great Western Bancorp, Inc. (GWB) : Free Stock Analysis Report

To read this article on Zacks.com click here.

TORONTO, April 22, 2021 (GLOBE NEWSWIRE) — Jourdan Resources Inc. (TSXV: JOR) (“Jourdan” or the “Company”) is pleased to announce that, further to its press release dated January 21, 2021, it has received the assay results of the first batch (22 samples) of its sampling of the bulk sample, with grades showing of over 1.5% Li₂O.

Highlights of Bulk Sample Assays (see Table 1 for additional details)

• Lithium (Li) values of the samples tested were in the range of 6,120 ppm (parts per million) to 8,190 ppm, with an average of 7,264 ppm.

• Lithium oxide (Li₂O) values of the samples tested averaged 1.56% and ranged from 1.31% to 1.76% Li₂O.

• Beryllium values of the samples tested ranged from 254 ppm to 408 ppm, with a cesium average of 7.45 ppm, and a niobium average of 106 ppm.

• The Rubidium average in the samples tested was 1,577 ppm, with a tantalum average of 35 ppm, and a barium average of 58 ppm.

Rene Bharti, CEO of Jourdan, stated, “We are very excited to have received the first half of assay results showing high grade Li₂O in the bulk sample that was taken at our Vallee lithium project. We are now very confident that we can begin to undertake a drilling program to work towards establishing an inferred mineral resource. Given the COVID pandemic and subsequent lockdown, results took longer than we had hoped, but we are very encouraged to see such high-grade lithium results. We plan on releasing the second set of results in the coming weeks. We anticipate that these results will take us closer to realizing our ambition of becoming a leading Canadian hard rock lithium producer.”

Jourdan’s chairman, Dr. Andreas Rompel, stated, “Given the large amount of sampling that we conducted, we feel even in the first half, we have a homogenous sample. This implies that these results speak to a large region, and not a specific zone. We are currently analyzing the second batch, and we intend to publicise the results shortly after receipt. Based on our current findings, we are very excited to move forward to begin drilling and defining an inferred mineral resource.”

Bulk Sampling Assaying

47 samples were taken from the 40-tonne bulk sample, which was retrieved from the Company’s Vallee lithium project site during 2018. 40 of the 50 tonnes retrieved were shipped in a series of 2 tonne sacks to Process Research Ortech Inc. (“Ortech”) in Mississauga, Ontario for metallurgical test work. During the first quarter of 2021, 47 individual samples were taken on two different occasions under the supervision of Jourdan’s personnel at Ortech. In the first sampling exercise reported here, 22 samples were taken from 3 sacks located inside the laboratory. Three samples (2257311, 2257314, 2257315) consisted of fine milled samples produced previously by Ortech. The other samples consisted of shovel loads of material from one sack spread out on a canvas. The average sample weight of these samples was 2.2 kgs. The 22 samples were sent to AGAT Laboratories in Mississauga, Ontario and were assayed for 58 different elements utilising the sodium peroxide fusion method with an ICP OES or MS finish. The results for lithium were subsequently multiplied by a factor of 2.153 to arrive at a value for Li₂O. The highest grade assayed was 1.76% Li₂O, with an average of 1.56% Li₂O, and a standard deviation of 0.10.

Management believes that these results clearly demonstrate the homogeneity of the lithium distribution in the pegmatites situated on the Company’s Vallee lithium property, and management is encouraged to further investigate the strike and down dip extent of these pegmatites.

In addition, the Company is excited to report elevated rubidium values averaging 1577 ppm.

Qualified Person

The scientific and technical information contained herein has been reviewed and approved by Stéphane Amireault, an independent consultant that is a “qualified person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

Table 1

About Jourdan

Jourdan Resources Inc. is a Canadian junior mining exploration company trading under the symbol “JOR” on the TSX Venture Exchange and “2JR1” on the Stuttgart Stock Exchange. The Company is focused on the acquisition, exploration, production, and development of mining properties. The Company’s properties are in Quebec, Canada, primarily in the spodumene-bearing pegmatites of the La Corne Batholith, around North American Lithium’s producing Quebec Lithium Mine. This mine is part of Contemporary Amperex Technology Co. Limited (CATL), China’s largest automotive battery manufacturer.

For more information:
www.jourdaninc.com
Rene Bharti, Chief Executive Officer and President
Email: info@jourdaninc.com
Phone: (416) 861-5800

Cautionary statements

The content and grades of any mineral deposits at our Vallee project are conceptual in nature. There has been insufficient exploration to define a mineral resource on the property and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Company’s ability to undertake a drilling program, to further investigate the strike and down dip extent of pegmatites at the Vallee lithium project, and to establish an inferred mineral resource, the publication of a second set of bulk sample results, the business and operations of the Company, and the Company’s ability to execute its business plan, including its ambition to become a leading Canadian lithium producer. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Jourdan to be materially different from those expressed or implied by such forward-looking information, including but not limited to: receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future mineral prices; accidents, labour disputes and shortages and other risks of the mining industry. Although Jourdan has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information 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 information. Jourdan does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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.

Figure 1

Location of the Avispa Exploration Concessions and major copper mines in northern Chile.

Figure 2

Location and geology of the Avispa Concessions Awarded (black) and Concessions in Application (red).

TORONTO, April 21, 2021 (GLOBE NEWSWIRE) — Montero Mining and Exploration Ltd. (TSX-V: MON) (“Montero” or the “Company”) has been awarded exploration concessions covering 13,200 hectares (the “Avispa project” or “Property”) in the Atacama Desert of northern Chile. More recently the Company submitted 14 new applications covering an additional 3,800 hectares adjoining the Avispa project to control a total of 17,000 hectares. Avispa is located about 40 km west of the Chuquicamata copper mine which is the world’s largest open pit copper mine (Figures 1 & 2). The Avispa project is situated within the defined north to south trending Palaeocene – Eocene Cu-Mo porphyry belt and is located about 40 km north of BHP’s Spence Cu-Mo mine and KGHM’s Sierra Gorda Cu-Mo mine.

The geology of the Avispa project area consists of extensive sedimentary evaporite salt deposits intercalated with fine grained clastic sediments of Tertiary age. The sediments largely cover a suite of Palaeocene monzodiorite and diorite porphyries as well as Cretaceous andesitic and diorite porphyries. The Avispa district was previously the target of some wide-spaced exploration drilling by BHP. Avispa is a legacy asset originally acquired in 2019, the Company believes it holds considerable potential for buried porphyry-type Cu-Mo mineralization.

Dr. Tony Harwood, President and Chief Executive Officer of Montero commented, “Montero has secured 17,000 hectares in this highly prospective copper district in proximity and in the same geological setting as other significant world class operating Cu-Mo mines. Avispa is a legacy exploration asset that the Company is seeking to monetize and provide Montero shareholders exposure to the burgeoning copper market in the new green economy. Montero’s primary focus remains on advancing the Isabella Au-Ag project in the highly prospective and under-explored Coastal Range of southern Chile.”

Figure 1. https://www.globenewswire.com/NewsRoom/AttachmentNg/2e6a141b-00db-409b-9a19-22185ccca064

Figure 2. https://www.globenewswire.com/NewsRoom/AttachmentNg/b837320e-a07b-4315-97e5-a42b3b72e9d0

Montero’s Chief Geologist, Marcial Vergara, is reviewing publicly available data on Avispa and has conducted a field visit. Marcial previously worked for Codelco and Anglo American, both major operating copper mining companies in Chile. Montero has adopted a prospect generator model at Avispa where it will de-risk the project and carry out limited exploration while seeking a partner to advance the project through the drill phase. This will provide Montero shareholders with exposure to the copper space while it continues to focus on the gold silver potential of southern Chile.

Qualified Person's Statement
This press release was reviewed and approved by Mr. Mike Evans, M.Sc. Pr.Sci.Nat. and Sr. Marcial Vergara B.Sc. who are qualified persons for the purpose of National Instrument 43-101. Sr Vergara is based in Santiago and has more than 30 years’ experience in copper exploration experience in Chile.

About Montero
Montero is a junior exploration company focused on finding, exploring, and advancing globally significant gold deposits in Latin America. The Company is in the process of relinquishing its portfolio of battery metal projects in Africa to focus on gold opportunities in Latin America. Montero’s board of directors and management have an impressive track record of successfully discovering and advancing precious metal and copper projects. Montero trades on the TSX Venture Exchange under the symbol MON and has 38,647,485 shares outstanding.

For more information, contact:
Montero Mining and Exploration Ltd.
Dr. Tony Harwood, President and Chief Executive Officer
E-mail: ir@monteromining.com
Tel: +1 416 840 9197 | Fax: +1 866 688 4671
www.monteromining.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.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking information" within the meaning of applicable Canadian securities laws. Forward looking information includes, but is not limited to, statements, projections and estimates with respect to the Share Consolidation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Such information is based on information currently available to Montero and Montero provides no assurance that actual results will meet management's expectations. Forward-looking information by its very nature involves inherent risks and uncertainties that may cause the actual results, level of activity, performance, or achievements of Montero to be materially different from those expressed or implied by such forward-looking information. Actual results relating to, among other things, completion of the agreement, results of exploration, project development, reclamation and capital costs of Montero’s mineral properties, and financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: an inability to complete the agreement on the terms as announced or at all; changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with Montero’s activities; and other matters discussed in this news release and in filings made with securities regulators. This list is not exhaustive of the factors that may affect any of Montero’s forward-looking statements. These and other factors should be considered carefully and accordingly, readers should not place undue reliance on forward-looking information. Montero does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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

TORONTO, April 21, 2021 (GLOBE NEWSWIRE) — Forsys Metals Corp. (TSX: FSY) (FSE: F2T) (NSX: FSY) (“Forsys” or the “Company”) is pleased to announce that it has today (the “Closing Date”) closed its previously announced bought deal private placement financing of 26,000,000 units of the Company (the “Units”) at a price of $0.50 per Unit for aggregate proceeds to the Company of C$13,000,000 (the “Offering”).

The net proceeds of the Offering will be used for the advancement of the Company’s Norasa Project in Namibia and for general corporate purposes.

Each Unit consists of one common share in the capital of the Company (each a “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant shall be exercisable into one Common Share at a price of C$0.75 per Common Share at any time on or before the date which is 24 months after the Closing Date.

The Offering was underwritten on a bought-deal basis by Canaccord Genuity Corp. and Red Cloud Securities Inc. (the “Co-Lead Underwriters”).

In connection with the Offering, the Co-Lead Underwriters received a cash commission equal to 7% of the gross proceeds of the Offering (for a total cash commission of C$910,000) and that number of broker warrants (the “Broker Warrants”) equal to 7% of the aggregate number of Units sold under the Offering (for a total of 1,820,000 Broker Warrants). Each Broker Warrant is exercisable into one Common Share at a price of $0.57 for a period of 24 months from the closing date of the Offering.

All securities issued under the Offering will be subject to a hold period of four months following the Closing Date.

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 Forsys Metals Corp.
Forsys Metals Corp. is an emerging uranium developer with 100% ownership of the Norasa project that comprises the fully permitted Valencia uranium project and the Namibplaas uranium project in Namibia, Africa a politically stable and mining friendly jurisdiction. Information regarding current National Instrument 43‐101 compliant Resource and Reserves at Valencia and Namibplaas are available on the Company’s website and under the Company’s filings on SEDAR.

On behalf of the Board of Directors of Forsys Metals Corp. Mark Frewin, Interim Chief Executive Officer.

For additional information please contact:

Jorge Estepa, Corporate Secretary
Telephone: (416) 818-4035 or Email: je@forsysmetals.com

Forward-Looking Information

This news release contains projections and forward‐looking information that involve various risks and uncertainties regarding future events. Such forward‐looking information includes statements about the Offering and the use of proceeds therefrom and can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors that could cause Forsys actual results to differ materially from those expressed or implied by such forward looking statements: fluctuations in uranium prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology; continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs; recovery rates, production estimates and estimated economic return; general market conditions; the uncertainty of future profitability; and the uncertainty of access to additional capital. Full description of these risks can be found in Forsys Annual Information Form available on the Company’s profile on the SEDAR website at www.sedar.com. These risks and uncertainties could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward‐looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward‐looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward‐looking information should circumstance or management’s estimates or opinions change. The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Vancouver, British Columbia–(Newsfile Corp. – April 21, 2021) – Millennial Lithium Corp. (TSXV: ML) (FSE: A3N2:GR) (OTCQX: MLNLF) ("Millennial" or the "Company") is pleased to announce that it has achieved a significant milestone with the production of lithium carbonate of Battery Grade (BG) purity from the first batch of brine processed through the Company's pilot plant at its Pastos Grandes Project in Salta Province, Argentina. The pilot plant produced lithium carbonate with a purity of 99.96%. Typical Battery Grade quality lithium carbonate is > 99.5% purity. The brine feedstock was derived from the Company's Production well PGMW17-04 on the Pastos Grandes Salar which was pumped to ponds that concentrate the lithium carbonate by solar evaporation.

Analytical work on the lithium carbonate samples was completed first at the project development park laboratory, with check analyses performed by Kemetco Research Inc. ("Kemetco") of Richmond, B.C. In addition to check chemical analyses Kemetco also conducted physical testing, including Particle Size Determination (PSD) and a scanning electron microscope (SEM) study for crystal habit determination. The PSD test results indicate the lithium carbonate product has a typical size distribution and is amenable to micronization to meet battery application requirements.

Farhad Abasov, President and CEO, commented: "The Company is very pleased to have reached this significant milestone with our pilot plant producing from the very first run Battery Grade quality lithium carbonate. The analytical results from this first batch indicate Battery Grade lithium carbonate can be produced prior to the CO₂ purification stage, and with CO₂ purification, we have the potential to produce a superior premium BG lithium carbonate product which may command a price premium. This has been accomplished using a proven flowsheet as outlined in the original plant design in the Company's Feasibility Study (see press release July 29, 2019). We have also demonstrated that we have the option to produce high quality Technical Grade and Battery-Grade product at lower cost than estimated in the Company's Feasibility Study using the basic processing."

The process design for Millennial's Pastos Grandes Project incorporates industry standards to produce lithium carbonate which is typically Technical Grade, and then a further lithium bicarbonate purification stage in order to consistently produce very high quality lithium carbonate.

In Millennial's pilot plant, a first stage lithium carbonate (Technical Grade – basic Battery Grade) is produced, which can be further purified by re-crystallization using the addition of CO₂ in order to make a lithium bicarbonate solution. This solution is filtered to remove final impurities, heated, the CO₂ recovered and lithium carbonate re-crystalized as a consistent battery-quality lithium carbonate. This first brine batch yielded two lithium carbonate samples; the analytical results of both products are shown in Table 1. As outlined in the results the Millennial team was successful in producing Battery Grade quality lithium carbonate at the completion of the basic stage and a premium quality Battery Grade at the completion of the purification process.

The impurity levels in the lithium carbonate product are very low and meet the specifications for Battery Grade qualifications from battery manufacturers (see Table 1). Typical impurities in lithium carbonate for battery production include Na, Ca, SO₄, K, and B. All these elements showed low values in the lithium carbonate produced in the Pastos Grandes project pilot plant. Table 1 below shows results as reported by Kemetco, a private sector integrated science, technology and innovation company, and confirmed Millennial's internal laboratory results, with the addition of Loss On Ignition (LOI) at 500 degrees Celsius for 30 minutes, and contents for additional minor impurities. Kemetco provides laboratory analysis and testing, field work, bench scale studies, pilot plant investigations, consulting services, applied research and development for both industry and government. Kemetco has experience with a wide variety of metals such as lithium, nickel, cobalt, manganese, copper, zinc, lead, gold, silver, vanadium and platinum group metals. Kemetco's clients range from start-up companies developing new technologies to large multinational corporations with proven processes.

Table 1 Analytical results of lithium carbonate samples (dry basis). *Other impurities include Cl, Si, Al, Ba, Co, Cr, Fe, Mn, Ni, P, Zn.

The analytes concentration of Boron, Calcium, Magnesium, Potassium, Sodium, and Sulphate were quantified by ICP-OES (Inductively Coupled Plasma – Optical Emission Spectrometry) with an appropriate calibration method using high purity standards. Chloride concentration was determined by the mercuric thiocyanate colorimetric method. LOI at 500 degrees Celsius for 30 minutes was quantified by the gravimetric method. The Lithium Carbonate assay was then calculated by subtraction of impurities. A minor amount of insoluble material which has not been included was introduced by the first use of the equipment and by additional handling, both of which have been resolved for subsequent trials.

In addition to the standard purity and impurity analyses, the Company also engaged Kemetco to determine the product Particle Size Distribution (PSD) via laser diffraction and analysis by Scanning Electron Microscope (SEM) to assist in determining crystal habit and morphologies. The main PSD metric for battery quality product is the D50 value which identifies the maximum particle size for 50% of the product. The D50 for the Premium Battery Grade product is 67µm (ie 50% of the product is less than 67µm, or 0.067mm) and for the Battery Grade product is 177µm, similar to values from other pre-micronized lithium carbonate products of existing producers. The Company is currently planning and preparing additional samples to be sent for comprehensive micronization studies targeting final product with a D50 of 5µm (5 microns which is the optimal value for a battery grade product. The SEM work has confirmed the particle size and the morphology of the lithium carbonate crystals for the Premium Battery Grade sample is predominantly tabular, while the primary stage Battery Grade sample is characterized by rosette aggregates of similar blades. Both appear to be amenable to micronization.

The Company initiated pilot pond construction in 2018 and began directing brine to the ponds later that same year. The pilot plant is being fed with concentrated lithium-rich brine from smaller feeder ponds which had reached a target grade of 3% Li. Brine chemistry, particularly K, B, Ca, Mg, and SO₄ concentrations are in line with target specifications and plant design parameters outlined in the Company's Feasibility Study completed in 2019 (see press release July 29, 2019). The first phase of the process, the Solvent Extraction (SX) system was successful in removing the majority of the boron (B) from the brine. The SX stage is followed by brine purification via carbonation and liming reactors designed to remove calcium (Ca) and magnesium (Mg). After this initial carbonation stage the concentrated brine is directed through to the first ion exchange (IX) columns to further reduce remaining trace Ca, Mg and B, followed by the main lithium carbonate precipitation reactor which in this trial yielded a Battery Grade product. Lastly, the CO₂ purification stage which includes a second IX ensures consistent premium Battery Grade purity.

As part of the pilot plant operation and training the Company's engineering department identified optimization opportunities in reactor construction and brine heating, and introduced more efficient and faster solid liquid separation techniques in order to achieve a purified brine. These changes are currently being implemented and upon completion a second batch of brine will be processed as the pilot plant continues to ramp up production.

As part of the Company's ongoing corporate initiative to develop staff within the Company and offer opportunities to people in local communities, on-site training and education of pilot plant and liming pant operators and pilot pond management teams have been expanded. This workforce increase will facilitate plant operation with the end-goal of providing fully qualified staff prepared for future commercial operation. A comprehensive Health, Safety and Environmental protocol and training program has been implemented for all stages of the plant.

Readers are encouraged to visit the Millennial website (www.millenniallithium.com) and view the recent video of the pilot plant.

This news release has been reviewed by Iain Scarr, AIPG CPG., Chief Operating Officer of the Company and a Qualified Person as that term is defined in National Instrument 43-101.

To find out more about Millennial Lithium Corp. please contact Investor Relations at (604) 662-8184 or email info@millenniallithium.com.

MILLENNIAL LITHIUM CORP.

"Farhad Abasov"

President, CEO and Director

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

This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals including approvals of title and mining rights or licenses, the reliability of third party information, continued access to mineral properties or infrastructure, changes in laws, rules and regulations in Argentina which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for Cdn$, fluctuations in the market for lithium, changes in exploration costs and government royalties, export policies or taxes in Argentina and other factors or information. The Company's current plans, expectations and intentions with respect to development of its business and of the Pastos Grandes Project may be impacted by economic uncertainties arising out of Covid-19 pandemic or by the impact of current financial and other market conditions on its ability to secure further financing or funding of the Pastos Grandes Project. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/81052

The underwhelming share price performance of Energy Resources of Australia Ltd (ASX:ERA) in the past three years would have disappointed many shareholders. What is concerning is that despite positive EPS growth, the share price has not tracked the trend in fundamentals. Shareholders may want to question the board on the future direction of the company at the upcoming AGM on 28 April 2021. They could also influence management through voting on resolutions such as executive remuneration. We think shareholders might be reluctant to increase compensation for the CEO at the moment, according to our analysis below.

View our latest analysis for Energy Resources of Australia

Comparing Energy Resources of Australia Ltd's CEO Compensation With the industry

At the time of writing, our data shows that Energy Resources of Australia Ltd has a market capitalization of AU$849m, and reported total annual CEO compensation of AU$974k for the year to December 2020. That's just a smallish increase of 3.1% on last year. While this analysis focuses on total compensation, it's worth acknowledging that the salary portion is lower, valued at AU$393k.

In comparison with other companies in the industry with market capitalizations ranging from AU$517m to AU$2.1b, the reported median CEO total compensation was AU$977k. So it looks like Energy Resources of Australia compensates Paul Arnold in line with the median for the industry.

On an industry level, roughly 68% of total compensation represents salary and 32% is other remuneration. Energy Resources of Australia pays a modest slice of remuneration through salary, as compared to the broader industry. If total compensation is slanted towards non-salary benefits, it indicates that CEO pay is linked to company performance.

A Look at Energy Resources of Australia Ltd's Growth Numbers

Over the past three years, Energy Resources of Australia Ltd has seen its earnings per share (EPS) grow by 49% per year. It achieved revenue growth of 8.1% over the last year.

This demonstrates that the company has been improving recently and is good news for the shareholders. It's good to see a bit of revenue growth, as this suggests the business is able to grow sustainably. Although we don't have analyst forecasts, you might want to assess this data-rich visualization of earnings, revenue and cash flow.

Has Energy Resources of Australia Ltd Been A Good Investment?

Few Energy Resources of Australia Ltd shareholders would feel satisfied with the return of -43% over three years. Therefore, it might be upsetting for shareholders if the CEO were paid generously.

To Conclude…

The fact that shareholders are sitting on a loss on the value of their shares in the past few years is certainly disconcerting. The stock's movement is disjointed with the company's earnings growth, which ideally should move in the same direction. Shareholders would be keen to know what's holding the stock back when earnings have grown. The upcoming AGM will be a chance for shareholders to question the board on key matters, such as CEO remuneration or any other issues they might have and revisit their investment thesis with regards to the company.

While CEO pay is an important factor to be aware of, there are other areas that investors should be mindful of as well. We did our research and spotted 1 warning sign for Energy Resources of Australia that investors should look into moving forward.

Important note: Energy Resources of Australia is an exciting stock, but we understand investors may be looking for an unencumbered balance sheet and blockbuster returns. You might find something better in this list of interesting companies with high ROE and low debt.

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.

In this article we are going to estimate the intrinsic value of Western Areas Limited (ASX:WSA) by projecting its future cash flows and then discounting them to today's value. We will take advantage of the Discounted Cash Flow (DCF) model for this purpose. There's really not all that much to it, even though it might appear quite complex.

We generally believe that a company's value is the present value of all of the cash it will generate in the future. However, a DCF is just one valuation metric among many, and it is not without flaws. For those who are keen learners of equity analysis, the Simply Wall St analysis model here may be something of interest to you.

Check out our latest analysis for Western Areas

Crunching the numbers

We're using the 2-stage growth model, which simply means we take in account two stages of company's growth. In the initial period the company may have a higher growth rate and the second stage is usually assumed to have a stable growth rate. In the first stage we need to estimate the cash flows to the business over the next ten years. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.

Generally we assume that a dollar today is more valuable than a dollar in the future, so we need to discount the sum of these future cash flows to arrive at a present value estimate:

10-year free cash flow (FCF) forecast

("Est" = FCF growth rate estimated by Simply Wall St)
Present Value of 10-year Cash Flow (PVCF) = AU$282m

After calculating the present value of future cash flows in the initial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. In this case we have used the 5-year average of the 10-year government bond yield (2.0%) to estimate future growth. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 7.6%.

Terminal Value (TV)= FCF₂₀₃₀ × (1 + g) ÷ (r – g) = AU$126m× (1 + 2.0%) ÷ (7.6%– 2.0%) = AU$2.3b

Present Value of Terminal Value (PVTV)= TV / (1 + r)¹⁰= AU$2.3b÷ ( 1 + 7.6%)¹⁰= AU$1.1b

The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is AU$1.4b. The last step is to then divide the equity value by the number of shares outstanding. Relative to the current share price of AU$2.3, the company appears quite good value at a 49% discount to where the stock price trades currently. Valuations are imprecise instruments though, rather like a telescope – move a few degrees and end up in a different galaxy. Do keep this in mind.

The assumptions

Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows. If you don't agree with these result, have a go at the calculation yourself and play with the assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Western Areas as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 7.6%, which is based on a levered beta of 1.072. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.

Looking Ahead:

Whilst important, the DCF calculation is only one of many factors that you need to assess for a company. The DCF model is not a perfect stock valuation tool. Instead the best use for a DCF model is to test certain assumptions and theories to see if they would lead to the company being undervalued or overvalued. For instance, if the terminal value growth rate is adjusted slightly, it can dramatically alter the overall result. Can we work out why the company is trading at a discount to intrinsic value? For Western Areas, we've put together three essential factors you should further research:

1. Risks: For instance, we've identified 2 warning signs for Western Areas that you should be aware of.

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

3. Other High Quality Alternatives: Do you like a good all-rounder? Explore our interactive list of high quality stocks to get an idea of what else is out there you may be missing!

PS. The Simply Wall St app conducts a discounted cash flow valuation for every stock on the ASX every day. If you want to find the calculation for other stocks just search here.

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

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

VANCOUVER, BC, April 20, 2021 /CNW/ – Trading resumes in:

Company: Minnova Corp.

TSX-Venture Symbol: MCI

All Issues: No

Resumption (ET): 10:45 AM

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

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

View original content: http://www.newswire.ca/en/releases/archive/April2021/20/c7533.html

Galaxy Resources Limited (ASX:GXY) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's statutory forecasts. Consensus estimates suggest investors could expect greatly increased statutory revenues and earnings per share, with the analysts modelling a real improvement in business performance. The market may be pricing in some blue sky too, with the share price gaining 13% to AU$3.70 in the last 7 days. It will be interesting to see if today's upgrade is enough to propel the stock even higher.

After this upgrade, Galaxy Resources' seven analysts are now forecasting revenues of US$112m in 2021. This would be a sizeable 102% improvement in sales compared to the last 12 months. The losses are expected to disappear over the next year or so, with forecasts for a profit of US$0.0025 per share this year. Yet prior to the latest estimates, the analysts had been forecasting revenues of US$97m and losses of US$0.0026 per share in 2021. It looks like there's been a definite improvement in business conditions, with a revenue upgrade supposed to lead to profitability sooner than previously forecast.

See our latest analysis for Galaxy Resources

With these upgrades, we're not surprised to see that the analysts have lifted their price target 29% to AU$3.35 per share. That's not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. The most optimistic Galaxy Resources analyst has a price target of AU$4.80 per share, while the most pessimistic values it at AU$1.80. This is a fairly broad spread of estimates, suggesting that the analysts are forecasting a wide range of possible outcomes for the business.

One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. It's clear from the latest estimates that Galaxy Resources' rate of growth is expected to accelerate meaningfully, with the forecast 102% annualised revenue growth to the end of 2021 noticeably faster than its historical growth of 21% p.a. over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in the same industry are forecast to see their revenue shrink 1.0% per year. It seems obvious that as part of the brighter growth outlook, Galaxy Resources is expected to grow faster than the wider industry.

The Bottom Line

The most important thing to take away from this upgrade is that the consensus now expects Galaxy Resources to become profitable this year. Fortunately, they also upgraded their revenue estimates, and our data indicates sales are expected to perform better than the wider market. Given that the consensus looks almost universally bullish, with a substantial increase to forecasts and a higher price target, Galaxy Resources could be worth investigating further.

With that said, the long-term trajectory of the company's earnings is a lot more important than next year. At Simply Wall St, we have a full range of analyst estimates for Galaxy Resources going out to 2023, and you can see them free on our platform here..

Of course, seeing company management invest large sums of money in a stock can be just as useful as knowing whether analysts are upgrading their estimates. So you may also wish to search this free list of stocks that insiders are buying.

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.

Sleeper Gold Project Land Claims

Paramount acquired the South Sleeper claims for $350,000 in a combination of cash and shares.

• 152 lode claims totalling approximately 3,100 acres

• New claims will be included in exploration and drill programs expected to commence this summer

WATCH VIDEO SUMMARY OF THE PRESS RELEASE

WINNEMUCCA, Nev., April 20, 2021 (GLOBE NEWSWIRE) — Paramount Gold Nevada Corp. (NYSE American: PZG) announced today it has completed the purchase of 152 unpatented lode claims (~3,100 acres) from South Sleeper Resources LLC. The claims are located only two miles south of Paramount’s wholly-owned former high-grade producing Sleeper Gold Mine.

With the acquisition of the South Sleeper claims, Paramount has increased its total land position to over 40,000 acres in the prolific and highly prospective Sleeper district situated at the intersection of two major Nevada mining trends – the Battle Mountain-Eureka and Western Nevada Rift.

The claims were formerly owned by several Nevada companies that collectively conducted numerous geophysical surveys and completed a total of 11 drill holes which intersected gold values up to 9.48 g/T over 3.05 meters (10 ft.) in alluvium. These drill results were never properly assessed or followed up.

Paramount CEO, Rachel Goldman commented: “This acquisition fits with our strategy of consolidating prospective targets near our material projects and applying our significant district knowledge of the geology to develop and execute successful exploration programs.”

On the merits of these new claims, Glen van Treek, Paramount President and COO, explained: “The Sleeper deposit sits on the margins of one of many major structural and lithological occurrences known as a ‘range front fault’ where several Nevada deposits have been found. In the Sleeper district, this feature, which is found throughout Nevada, is marked by a transition from ‘high density’ Jurassic-Triassic rock to the ‘lighter’ Tertiary volcanic sequences where the Sleeper mineralization is hosted. This major transition or break, together with other favourable structural zones, can be mapped in the field by geologists or, when covered by alluvium, using geophysical surveys. Our team has used a gravimetric survey to map the variations in density due to rock changes or significant alteration processes. At Sleeper, these favourable structures trend south-south-west (SSW), converging on our newly acquired claims.” (see image below)

Paramount acquired the South Sleeper claims for $350,000 in a combination of cash and shares.

Paramount has engaged several renowned consultants including Mine Development Associates, Inc. (a division of RESPEC) to assist the Paramount team in the review of all available data including drilling, geophysical surveys and geochemistry with the objective of developing an exploration program at the district sized Sleeper project which is now complemented by the addition of the South Sleeper claims. The drill program is expected to commence this summer.

About Paramount Gold Nevada Corp.
Paramount Gold Nevada Corp. is a U.S. based precious metals exploration and development company. Paramount’s strategy is to create shareholder value through exploring and developing its mineral properties and to realize this value for its shareholders in three ways: by selling its assets to established producers; entering joint ventures with producers for construction and operation; or constructing and operating mines for its own account.

Paramount owns 100% of the Grassy Mountain Gold Project which consists of approximately 8,200 acres located on private and BLM land in Malheur County, Oregon. The Grassy Mountain Gold Project contains a gold-silver deposit (100% located on private land) for which results of a positive Feasibility Study have been released and key permitting milestones accomplished.

Paramount owns a 100% interest in the Sleeper Gold Project located in Northern Nevada, the world’s premier mining jurisdiction. The Sleeper Gold Project, which includes the former producing Sleeper mine, totals 2,322 unpatented mining claims (approximately 60 square miles or 15,500 hectares). The Sleeper gold project is host to a large gold deposit (over 4 million ounces of mineralized material) and the Company has completed and released a positive Preliminary Economic Assessment. With higher gold prices, Paramount has begun work to update and improve the economics of the Sleeper project.

Safe Harbor for Forward-Looking Statements
This release and related documents may include "forward-looking statements" and “forward-looking information” (collectively, “forward-looking statements”) pursuant to applicable United States and Canadian securities laws. Paramount’s future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and other applicable securities laws. Words such as "believes," "plans," "anticipates," "expects," "estimates" and similar expressions are intended to identify forward-looking statements, although these words may not be present in all forward-looking statements. Forward-looking statements included in this news release include, without limitation, statements with respect to the use of proceeds from the Offerings. Forward-looking statements are based on the reasonable assumptions, estimates, analyses and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Management believes that the assumptions and expectations reflected in such forward-looking statements are reasonable. Assumptions have been made regarding, among other things: the conclusions made in the feasibility study for the Grassy Mountain Gold Project (the “FS”); the quantity and grade of resources included in resource estimates; the accuracy and achievability of projections included in the FS; Paramount’s ability to carry on exploration and development activities, including construction; the timely receipt of required approvals and permits; the price of silver, gold and other metals; prices for key mining supplies, including labor costs and consumables, remaining consistent with current expectations; work meeting expectations and being consistent with estimates and plant, equipment and processes operating as anticipated. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including, but not limited to: uncertainties involving interpretation of drilling results; environmental matters; the ability to obtain required permitting; equipment breakdown or disruptions; additional financing requirements; the completion of a definitive feasibility study for the Grassy Mountain Gold Project; discrepancies between actual and estimated mineral reserves and mineral resources, between actual and estimated development and operating costs and between estimated and actual production; the global epidemics, pandemics, or other public health crises, including the novel coronavirus (COVID-19) global health pandemic, and the spread of other viruses or pathogens and the other factors described in Paramount’s disclosures as filed with the SEC and the Ontario, British Columbia and Alberta Securities Commissions.

Except as required by applicable law, Paramount disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this document.

Paramount Gold Nevada Corp.
Rachel Goldman, Chief Executive Officer
Christos Theodossiou, Director of Corporate Communications
866-481-2233
Twitter: @ParamountNV

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1a73191d-d6ea-4bfb-8834-b1864c3fbc7b

Vancouver, British Columbia–(Newsfile Corp. – April 20, 2021) – Quaterra Resources Inc. (OTCQB: QTRRF) (TSXV: QTA) ("Quaterra" or the "Company") today announced that a 7,000 -10,000-foot core drilling program will begin during the first week of May 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 recent 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.

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/80987

2021 Project budget of ~$60 million

Figure 1: General locations for 2021 Spring Drilling Exploration Targets

Figure 1: General locations for 2021 Spring Drilling Exploration Targets

Figure 2: Focused view of the Hook target, a key area between the Goose Main Deposit and the Nuvuyak Deposit.

Figure 2: Focused view of the Hook target, a key area between the Goose Main Deposit and the Nuvuyak Deposit.

VANCOUVER, British Columbia, April 20, 2021 (GLOBE NEWSWIRE) — Sabina Gold & Silver Corp (SBB.T/SGSVF.OTCQX), (“Sabina” or the “Company”) is pleased to announce that the Goose Camp has been successfully re-opened and work programs focused on pre-development advancement and exploration have commenced at the Goose Property on its 100%-owned Back River Gold Project (“Back River” or the “Project”) in Nunavut, Canada

Operating under Sabina’s COVID-19 Protocol Operational Framework, camp personnel have been safely mobilized into site and have commenced the 2021 field programs. Sabina will continue to engage with relevant parties and with the safety and well-being of our employees as our focus, will modify protocols based on new information to ensure our measures are protective.

Sabina anticipates that the Goose site will remain open from present to end of year for 2021 targeting several key initiatives focused on advancing the Project. Pre-development activities are focused on critical path activities needed to maintain the targeted production schedule as contemplated in the Updated Feasibility Study.

Exploration drilling and field programs will focus on advancement of gold targets and zones designed to provide near term positive impact at the Goose site. In addition, a return to the George site for reconnaissance work will help develop a phased strategy for future programs on the Back River Gold District’s second most advanced property.

“We have a busy year planned at Back River for 2021,” said Bruce McLeod, President and CEO. “Camp is now up and running and we are looking forward to another successful year, accomplishing the necessary activities to continue to advance the Project towards a production decision. Exploration drills have started turning with first results expected in June, and camp personnel are gearing up for significant earthworks this year. Construction is also set to begin on the underground exploration ramp at Umwelt. As we focus on pre-development work at Goose this year, we will also be returning to the George property for the first time since 2013. Situated approximately 50km north of the Goose site, George is the Back River Gold District’s second most advanced property, and we are eager to apply some of the successful exploration themes from Goose to the deposits at George.”

Project Development

Project development work at Goose will focus on detailed engineering, procurement, completion of select earthworks at the Port and Goose site and commencing the development of the underground ramp for exploration of the Umwelt deposit.

Detail engineering will advance on the crushing and screening plant, process plant, power house, truck shop and the Goose site fuel farm design. Detailed engineering should be largely competed in H2, 2021.

Additionally, Sabina is working to complete detailed design for the plant site pond; rough grade for the process plant; fuel farm pad; water management structures; and accommodation complex design. As part of this work the Company is also evaluating optimization opportunities on the sequencing of underground and open pit mining.

The exploration ramp, will involve establishing the on-surface support facilities, collaring the 5 m x 5 m portal and driving toward the Umwelt underground to provide for continued exploration of the Umwelt Zone.

Procurement items include phase one of the accommodation complex ~(278 rooms); steel and cladding for the process mill building and truck shop; multiplate steel tunnels for crushed ore reclaim; construction equipment required for foundation installation and building erection; secondary cone crusher, crusher screen and grizzly feeder; and phase one of the open pit mining fleet. These items will enable Sabina to be well prepared to begin pre-stripping of the Echo open pit once funding is obtained and a production decision is made.

Sabina is also actively working with a logistics specialist (Air- and Sea-lift) to finalize the execution strategy for goods and equipment to site.

Construction activities will continue with civil works including; construction of bulk fuel storage tank and containment at the Goose Site; completion of the fuel containment berm at the Port; advancement of the underground exploration ramp development at Umwelt; completion of infrastructure to support ramp activities, including a surface workshop for equipment maintenance, and water storage settling pond. This field season includes a geotechnical drilling program to provide additional information for water management structures.

Exploration

The spring drilling program at Goose will total approximately 4000 m and will be carried out during April and May. Drilling will be focused on testing four to five early-stage exploration target areas and a four to five drillholes at the Hook zone (Figure 1 & 2). The early-stage exploration targets have been evolved through updated geological modeling with refined data interpretations derived from the study of historic drill core, recent field mapping and geophysics that includes input from a VTEM survey that was completed in 2020. The early-stage targets are predominantly of shallow to moderate depth and success at any of these targets could have the potential to impact current mine life economics. The Hook zone, which is located along the favorable gold structure that trends between the Goose Main and the Nuvuyak deposits, will be tested with a series of four to five drill holes. Drilling will focus on a 300 m section of the 700 m Hook zone where favourable geology and significant gold values show a strong potential for mineralization similar to that seen at Goose Main and Nuvuyak.

Graphics accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/11d3c960-a3e9-4848-9dad-259176bea44e

https://www.globenewswire.com/NewsRoom/AttachmentNg/eaed2c8e-c7f9-42d6-a5ce-bab05b9ee0f0

A summer field work program is planned for the George site, which is located 50 km north of the Goose site. George currently has a mineral resource estimate of 1.2 M oz @ 5.34g/t Au in the Indicated category and an additional 1.1 M oz @ 6.12g/t Au in the Inferred category. Field work at George will consist of field mapping and rock sampling for evaluation and modeling of drill targets outside of the current George resource areas. This field campaign at George will be the first phase of a focused return to George exploration with the objective of demonstrating potential for additional discovery and resource growth towards definition of a stand-alone secondary development site for Sabina at Back River.

Qualified Persons

Mr. James Maxwell, P. Geo., and Director of Exploration for Sabina, is a Qualified Person pursuant to National Instrument 43-101 and has reviewed and approved of the technical content of this press release as it relates to the Back River Project.

Sabina Gold & Silver Corp.

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

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

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

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

For further information please contact:

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

Bruce McLeod, President & CEO
Suite 1800 – Two Bentall Centre
555 Burrard Street
Vancouver, BC V7X 1M7
Tel 604 998-4175 Fax 604 998-1051
http://www.sabinagoldsilver.com

Toronto, Ontario–(Newsfile Corp. – April 20, 2021) – Minnova Corp. (TSXV: MCI) (OTC Pink: AGRDF) ("Minnova" or the "Company"), a discovery-stage exploration and advanced development-stage gold company focused on the expansion and restart of our 100% owned PL Gold Mine in central Manitoba is pleased to announce recent exploration developments, current and planned on site activities.

Visible Gold Intersected in Step-Out Drilling

Targeted deep drilling on the down dip/on strike extension to earlier positive drill results from the Company's Spring 2021 drill campaign have intersected visible gold in hole M-21-048x at a depth of 208 m. Visible gold mineralization is described as coarse, 1mm to 3mm grains at the margins of a 30.0 cm wide quartz vein (see Photo 1). The success of this intercept is a result of a detailed re-interpretation of historic drilling along with more recent shallow drilling on the PL North mineralized structures. From this work it was determined that a previous Minnova wildcat hole testing a shallow airborne EM conductor may have been shut down short of the projected down dip extension of the PL North mineralized structures. The successful re-entry of M-21-048x affirms a predictable model for gold mineralization based on continued structural analysis of the deposit. Iterations of this model are being used for deposit development and regional scale exploration.

Photo 1: Visible Gold in Quartz Vein

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/3654/81026_img1.jpg

Visible Gold was logged along the margins the quartz vein is located within a broader high-strain structure measuring 1.0 meters at the target depth. This structure is interpreted to be the down dip extension of the PL North Upper Zone. M-21-048x is located approximately 350 meters northwest of the PL mill and over 500 meters beyond the limits of the 2017 PL Deposit resource model. This mineralized intercept demonstrates that the deposit is open for expansion along strike and down-dip beneath the permitted 1,000 tpd PL mill (see Figure 1 Location Map).

Figure 1: Location Map of DDH M-21-048x

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/3654/81026_b99e7d97f4414bf3_003full.jpg

Gorden Glenn, President & CEO, commented: "We are very excited to announce this intercept of visible gold. It confirms our structural model that the mineralized PL North structures extend to significant depth along strike to the northwest. This intercept is the result of thorough structural analysis by our exploration team. This discovery is also significant as it is located well outside the currently defined PL Deposit reserves and resources (see Note 1) and demonstrates the significant potential for resource expansion and brown-fields exploration of the PL Project.

In fact, it is the most significant and farthest step-out drill hole in the history of the property. It gives credence to the potential for additional gold deposits in the greater PL Project region. We intend to aggressively follow up these results with further diamond drilling at depth and along strike."

PL Mine Phase-1 Restart Update

In addition to exploration upside evidenced by above noted discovery of visible gold in step-out drilling the Company is confident that the current development options being studied will also deliver significant shareholder value.

The Company is actively planning for an optimized Phase-1 Restart of the PL Mine to capitalize on current high gold price and positive gold price outlook. Our efforts are focused on development strategies that minimize; both risk, and initial capital costs to optimize near term and long term mine developments and operational plans to maximize metallurgical recoveries.

A key variance to the initial development strategy from the 2017 Feasibility Study is the development of a new northern portal and decline to access the PL deposit. Benefits to this development approach include:

• much earlier access to high grade reserves and resources potentially shorting time to first production

• reduced initial underground development requirements

• increased development options for initial test mining techniques that focus on selective mining to minimizing dilution without compromising overall resource extraction

• optimal location for new underground access as resource appears to extend to the northwest

• underground mine access closer to the mill to reduce ore haul travel distance on surface

Included in our revised mine development plan is the opportunity to initiate an on-site bulk sample of mined material provided by the test mining program. On-site testing is envisioned to include basic crushing, milling, and processing via modern gravity recovery equipment. This testing will contribute to updated metallurgical recoveries using modern gravity concentration technology and potentially allow free gold to be recovered during the early test mining phase. Tailings from the gravity process test work will be a) stockpiled for future on-site flotation processing following the restart of PL mill and b) sent offsite for additional floatation circuit recovery testing. Previous metallurgical studies estimated over 50% of gold recovery by gravity concentration using spirals, jigs and a shaker table, technology prevalent at that time.

The company is optimistic the revised mine development plan and onsite bulk sample test work will result in streamlined processes that lead to significant cost savings and improve overall gold recovery.

The PL Mine is located in a mining friendly jurisdiction with access to a highly skilled local workforce. The Company believes the PL Mine can make a significant contribution to regional economic development and future investment in the historic Flin Flon, MB mining district.

Minnova will provide further progress updates as internal studies and site work advances during the summer of 2021 and over the remainder of the year.

Notes 1: Nokomis NI 43-101 mineral resource estimate was prepared by Leon McGarry, B.Sc., P.Geo., of CSA Global Pty Ltd., and is contained in the Technical Report entitled Feasibility Study, PL Gold Project, Manitoba, Canada filed on SEDAR on May 4, 2018.

About Minnova Corp.

Minnova Corp. is an emerging Canadian gold producer focused on restarting the PL Gold Mine and expanding gold resources on its PL and Nokomis gold deposits. The Company has completed a Positive Feasibility Study in support of restarting the PL Mine at an average annual production rate of 46,493 ounces over a minimum 5 year mine life. The resource remains open to expansion and future surface exploration work programs will target resource expansion. The PL Gold Mine has a relatively short pre-production timeline forecast at 15 months, benefits from a valid underground mining permit (Environment Act 1207E), an existing processing plant, over 7,000 meters of developed underground ramp to -135 metres depth, is fully road accessible and close to existing mining infrastructure in the prolific Flin Flon – Snow Lake Greenstone Belt of Central Manitoba.

Qualified Person

Mr. Chris Buchanan, M. Sc., P. Geo., a consultant of the Company and a "Qualified Person" under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.

For more information please contact:

Minnova Corp.
Gorden Glenn
President & Chief Executive Officer

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

Visit our website at www.minnovacorp.ca

Forward Looking Statements

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, information regarding the Company including management's assessment of future plans and operations, that may involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward looking statements. A feasibility study has not been completed and there is no certainty the disclosed targets will be achieved nor that the proposed operations will be economically viable. Although Minnova has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Minnova does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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.

NOT FOR DISSEMINATION INTO THE UNITED STATES.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/81026

MONTREAL , April 20, 2021 (GLOBE NEWSWIRE) — The management of Sirios Resources Inc. (TSXV: SOI) is pleased to announce the signing of a diamond drilling contract with Synee Drilling Inc. to carry out a minimum of 2,500 metre, to commence this summer on the Cheechoo gold property in Eeyou Istchee James Bay, Quebec. The drilling program will test mainly gold exploration targets located outside the Cheechoo deposit as well as its extension at depth. This drilling will be carried out in addition to the recently announced 7,500 metre infill reverse circulation (RC) program.

The objective of this summer's reverse circulation drilling program will be to better define the Cheechoo deposit and subsequently initiate a new resource estimate update (starting in 2022). This update is expected to convert a significant amount of the inferred resources to indicated resources. Improving the classification of the project's gold resources will allow us to improve the market valuation of the Cheechoo deposit, as well as taking the project to a more advanced stage by completing a Preliminary Economic Assessment (PEA).

Increase in the trading volume of Sirios on the TSX-V

Sirios' management wishes to inform its shareholders that all activities of the company are proceeding normally and that there is no known reason for the recent increase in trading volume on the stock exchange. The high volumes could be related to the end of the escrowed period on the flow-through shares issued in the last financing of Sirios.

The scientific and technical content of this press release has been reviewed and approved by Dominique Doucet, P.Eng, President and CEO of Sirios Resources Inc. and Jordi Turcotte, P.Geo.

About Synee Drilling Inc.

Synee Drilling Inc., is a drilling services company owned 51% by Tawich Development Corporation (TDC) of Wemindji and 49% by Machines Roger International of Val-d’Or.

About the Cheechoo Property

The Cheechoo gold property, wholly-owned by Sirios, is located in Eeyou Istchee James Bay, Quebec, less than 9 km from Newmont’s Eleonore gold mine. The latest resource estimate for the Cheechoo project (October 2020) estimated an inferred resource of 2.0 million ounces of gold contained in 93.0 million tonnes of rock at an average grade of 0.65 g/t Au, with significant potential to increase this resource.¹

About Sirios

A pioneer in the discovery of significant gold deposits in Eeyou Istchee James Bay, Quebec, Canada. Sirios Resources Inc. is primarily focused on its Cheechoo gold discovery while actively exploring the high gold potential of its other properties.

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.

Contact :
Dominique Doucet, President & CEO, P.Eng.
Tel. : (514) 918-2867
ddoucet@sirios.com
website : www.sirios.com

¹ BBA, Mineral Resource Estimate Update for The Cheechoo Project, 31/10/2020

VANCOUVER, British Columbia, April 20, 2021 (GLOBE NEWSWIRE) — Silver Bull Resources, Inc. (TSX: SVB, OTCQB: SVBL) (“Silver Bull” or the “Company”) announces the detailed voting results of the proposals considered at its annual meeting of shareholders held on April 19, 2021 (the “Meeting”). A total of 18,265,547 or 54.17% of the Company’s issued and outstanding shares were represented at the Meeting.

Most critically, the Meeting included a proposal for shareholders to approve and adopt amended and restated articles of incorporation of the Company to increase the number of authorized shares of Silver Bull common stock from 37.5 million to 150.0 million and to make certain non-substantive amendments, which required the approval from a majority of the outstanding shares of Silver Bull common stock. The voting results were as follows:

As a majority of the outstanding shares of Silver Bull common stock was received in favour of the proposal, it was approved.

President and CEO, Tim Barry stated: “We would like to thank those shareholders who took the time to vote on this matter, which is vital to the future growth and advancement of the Company. We see great potential for the Company’s Sierra Mojada project, and with the ability to seek equity financing at Silver Bull, we will be focused on continuing its advancement.

“Additionally, we look forward to advancing the Beskauga project in Kazakhstan in our new subsidiary, Arras Minerals Corp., for which we recently completed a private placement financing, and are commencing a drill program in the coming months.”

In addition to the above-noted proposal, the following nominees, as listed in Silver Bull’s proxy statement, were re-elected as directors of the Company:

Silver Bull is also pleased to announce that the Company’s shareholders have ratified and approved the appointment of Smythe LLP, as the Company’s independent registered public accounting firm, for the fiscal year ending October 31, 2021 (18,080,515 or 98.98% voted “For”, 66,260 or 0.36% voted “Against” and 118,772 or 0.65% abstained from voting).

Finally, the Company’s shareholders voted to approve, on a non-binding advisory basis, the compensation of the Company’s named executive officers (12,538,304 or 92.65% voted “For”, 740,928 or 5.47% voted “Against”, and 253,020 or 1.86% abstained from voting).

Full details of the proposals are fully described in the Company’s definitive proxy statement filed on February 23, 2021 available on SEDAR at www.sedar.com, and on EDGAR at www.sec.gov.

About Silver Bull

Silver Bull is a Vancouver-based mineral exploration company whose shares are listed on the TSX and trade on the OTCQB in the United States. Silver Bull owns the Sierra Mojada Project which is located 150 kilometers north of the city of Torreon in Coahuila, Mexico, and is highly prospective for silver and zinc. Sierra Mojada is currently under a joint venture option with South32 International Investment Holdings Pty Ltd. In addition, Silver Bull’s subsidiary, Arras Minerals Corp., holds an Option Agreement to acquire the Beskauga Copper-Gold Project, located in North Eastern Kazakhstan.

On behalf of the Board of Directors
“Tim Barry”

Tim Barry, CPAusIMM
Chief Executive Officer, President and Director

INVESTOR RELATIONS:
+1 604 687 5800
info@silverbullresources.com

Cautionary note regarding forward looking statements: Certain statements in this news release are “forward-looking” within the meaning of applicable securities legislation. Forward-looking statements can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. Forward-looking statements include, but are not limited to, statements relating to the potential for the Company’s Sierra Mojada project, the ability to seek equity financing at Silver Bull, and the future advancement of the Company’s Sierra Mojada and Beskauga projects. Forward-looking statements are necessarily based upon the current belief, opinions and expectations of management that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and other contingencies. Many factors could cause the Company’s actual results to differ materially from those expressed or implied in the forward-looking statements. These factors include, among others, market prices, metal prices, availability of capital and financing, general economic, market or business conditions, as well as other risk factors set out under the heading “Risk Factors” in the Annual Report on Form 10-K for the year ended October 31, 2020, which is available on SEDAR at www.sedar.com. Investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.

Toronto, Ontario–(Newsfile Corp. – April 20, 2021) – US Copper Corp (TSXV: USCU) (FSE: C73) ("US Copper" or the "Company") is pleased to announce that its Form 211 application, filed with the governing U.S. securities regulator (FINRA), and its application to list its common shares on the OTC Venture Market (OTCQB) in the United States have been submitted. The company will provide further information once its common shares commence trading on the OTCQB, a U.S. based trading platform operated by the OTC Markets Group of New York.

US Copper's stock is currently traded on the OTC Pink Sheets under the symbol CWMZF. The OTCQB market is a premiere marketplace for early-stage and developing U.S. and international companies that are committed to providing a high-quality trading and information experience for U.S. investors. Investors can find real-time quotes and market information for OTCQB-listed companies on the OTC Markets website.

The company believes that trading on the OTCQB market will enhance liquidity as well as increase the company's visibility in U.S. capital markets. US Copper continues to trade on the TSX Venture Exchange under its symbol USCU as well as on the BORSE in Frankfurt, Germany, under its symbol C73.

About US Copper Corp.

US Copper controls approximately 15 square miles of patented and unpatented federal mining claims in the Light's Creek Copper District in Plumas County, NE California; essentially, the entire District. The District contains substantial copper (silver) sulfide and copper oxide resources in three deposits – Moonlight, Superior and Engels, as well as several partially tested and untested exploration targets.

The Superior and Engels Mines operated from about 1915-1930 producing over 161 million pounds of copper from over 4 million tons of rock containing 2.2% copper with silver and gold credits.

The Moonlight Deposit was discovered and drilled by Placer Amex during the 1960's. Details of the resources on US Copper's property and the parameters used to calculate them can be found in the "Technical Report and Preliminary Economic Assessment for the Moonlight Deposit, Moonlight-Superior Copper Project, California, USA" dated April 12, 2018 on both the company's website at www.uscoppercorp.com or on www.sedar.com under the US Copper Corp profile.

Mr. George Cole is the Qualified Person pursuant to NI 43-101 responsible for the technical information contained in this news release, and he has reviewed and approved this news release.

For Further Information Contact:

Mr. Stephen Dunn, President, CEO and Director, US Copper Corp (416) 361-2827 or email info@uscoppercorp.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 press release.

This press release contains forward-looking statements within the meaning of applicable Canadian and U.S. securities laws and regulations, including statements regarding the future activities of the Company. Forward-looking statements reflect the current beliefs and expectations of management and are identified by the use of words including "will", "hopes", "anticipates", "expected to", "plans", "planned" and other similar words. Actual results may differ significantly. The achievement of the results expressed in forward-looking statements is subject to a number of risks, including those described in the Company's management discussion and analysis as filed with the Canadian securities regulatory authorities which are available at www.sedar.com. Investors are cautioned not to place undue reliance upon forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/81014

VACAVILLE, CA / ACCESSWIRE / April 20, 2021 / Athena Gold Corp. (OTCQB:AHNR) announced that it has engaged David Beling, P.E. as a Senior Strategic and Technical advisor. Throughout the past 56 years, Dave examined, significantly reviewed, or was directly involved with 90 underground mines, 136 open pit mines and 168 process plants around the world. He also developed, enhanced, and obtained financing for several mining companies, primarily in the precious and base metal sectors.

"Dave is a big addition to our technical team and over the last several months has evaluated our entire project database and helped design our 2021 exploration plans," said John Power, Athena's CEO. "I appreciate Dave's willingness to join our team and explore our flagship Excelsior Springs Gold Project located in the Walker Lane mineral trend in Nevada."

Dave has a successful track record both in Nevada and in the Walker Lane as the President & CEO of Bullfrog Gold Corp. for nine years (now known as Augusta Gold) as well as the General Manager of its Bullfrog Gold Project, a proposed open pit and 8,000-tpd heap leach operation near Beatty, Nevada. In October 2020 he completed the acquisition of all Barrick Gold's lands in the Bullfrog Mining District and concurrently closed a C$23 million private placement from the Augusta Group.

From 2004 through 2010 Dave was the Executive VP and COO of Geovic Mining Corp where he directed the environmental, geotechnical, metallurgical, and feasibility study contractors on a world-class cobalt-nickel project in Cameroon, Africa. He also discovered and developed a reductive acid-leach process that lowered risks, costs, and environmental impacts and drove the physical upgrading programs that nearly tripled the mill feed grades. In 2006 he spearheaded a TSX public listing and delivered the presentations at three road shows that raised C$112 million in Canada, UK, and US. He also performed and later directed investor relations that grew the market capitalization to US $460 million by mid-2007.

Dave's open-pit mine development and production experience in Nevada also included Sr. VP for Hycroft Resources, for five years where he completed construction and managed/directed operations of the 16,000-tpd Crofoot heap leach plant and two open pit gold mines. As a VP Operations for parent Granges Inc., he also served on the Technical Committee for Hudson Bay's 2,700-tpd Trout Lake Mine near Flin Flon, Manitoba.

Dave has also served as an interim CEO, acting VP operations, senior consultant, trouble-shooter and evaluator of numerous production operations, development projects, and acquisitions. Clients included Romarco Minerals, Dayton Mining, Manhattan Minerals, Eldorado Gold, Ivanhoe Mines, Rea Gold and NovaGold.

Dave is a 1964 Mining Engineering graduate from the University of Arizona and has been employed and/or consulted for Phelps Dodge, Union Oil, Fluor, United Technologies, Westinghouse, and 25 Canadian and US junior mining companies. He served on the Boards of 14 Canadian and US mining companies beginning in 1981 and continues to serve as a Director of NioCorp Developments Ltd.

About Athena Gold Corporation

Athena is focused on the exploration and development of precious metals in the Western United States.

The Company's flagship Excelsior Springs Project is located in Esmeralda County, Nevada in the prolific Walker-Lane tectonic zone, an area that has seen a recent resurgence with several important gold discoveries, new mines going into production and hosts a number of large historic gold mines. Total gold production from the Walker-Lane tectonic zone has exceeded 20 million ounces (Moz) including notable deposits by Goldfields (5 Moz), Bullfrog (2 Moz), Tonopah (2 Moz), Mineral Ridge (1.5 Moz) and Comstock (8 Moz Au, 200 Moz Ag). Readers are cautioned that the Company has no interest in or right to acquire any interest in any of the above mentioned properties, other than the Excelsior Springs Project, and that the mineral deposits, and the results of any mining thereof, on adjacent or similar properties are not indicative of mineral deposits on Excelsior Springs Project or any potential exploitation thereof.

From the mid-1980s through 2011, a number of exploration companies conducted drilling programs, primarily on the patented claims, that began to define the near-surface Buster Mine gold zone. Gold mineralization at the Property occurs within an east-west trending zone that is 200 to 400m wide and at least 3 km long.

Gold mineralization discovered at Excelsior Springs to date occurs in quartz vein stock-works and silicified zones in hornfels and calc-silicate altered country rock and is generally close to porphyry dykes. The best mineralization (grade and thickness) is found in altered sediments immediately above porphyry dykes that have intruded along existing east- and east-northeast trending faults. The mineralized stock-work vein zones are shallow and have a relatively flat plunge, making them amenable to open pit mining methods.

Most historical exploration at Excelsior Springs has focused on a 2.5 km long section in the central part of the Buster zone where mineralization is at or near the surface. Surface mapping and an Induced Polarization (IP) geophysical survey conducted by Zonge International Inc. identified multiple zones of silicification that correlate well with the known mineralization. Many of the silicified zones defined by the IP (resistivity highs) surveys have not been tested by drilling and remain targets for future exploration.

An NI 43‐101 Technical Report dated September 28, 2010 entitled "Technical Report for the Excelsior Springs Property Esmeralda County, Nevada, U.S.A." prepared by Ken Brook, RPG, QP, was filed on SEDAR by Nubian for Excelsior Springs in 2010.

Athena's agreement with Nubian includes 100% of the 140 unpatented claims at Excelsior Springs with two additional patented claims held under a lease option that are subject to a 2% net smelter returns royalty on gold production. Under the terms of the Option Agreement, Nubian will retain a 1% net smelter returns royalty ("NSR Royalty") on the Excelsior Springs Project if Athena fully exercises the option. Athena will have the right to purchase 0.5% (being one half) of the NSR Royalty for CAD $500,000 and the remaining 0.5% of the NSR Royalty at fair market value.

Cautionary Statement to U.S. Investors

This press release references NI 43-101, which differs from the requirements of U.S. securities laws. NI 43‑101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects.

The United States Securities and Exchange Commission ("SEC") permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can legally extract or produce. Pursuant to SEC Industry Guide 7 under the United States Securities Act of 1933, as amended, a "final" or "bankable" feasibility study is required to report reserves. Currently Athena has not delineated "reserves" on any of its properties. Athena cannot be certain that any deposits at its properties will ever be confirmed or converted into SEC Industry Guide 7 or any successor rule or regulation compliant "reserves". Investors are cautioned not to assume that any part or all of the historic Buster Mine gold zone will ever be confirmed or converted into reserves or that it can be economically or legally extracted.

The SEC has adopted amendments to its disclosure rules to modernize the mineral property disclosure requirements for issuers whose securities are registered with the SEC under the United States Securities Exchange Act of 1934, as amended. These amendments became effective February 25, 2019 and, on January 1, 2021, will replace the historical property disclosure requirements for mining registrants that were included in SEC Industry Guide 7, which will be rescinded from and after such date.

Forward Looking Statements

This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities laws. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the exercise of the option to acquire the Excelsior Springs Project, the receipt of a new CUSIP number in connection with the Name Change, the approval of FINRA and OTC for the Shares to trade under the new name, the preparation of a technical report for the Excelsior Springs Project, the application to list the Shares on the CSE, anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believes", "will", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "potential", "scheduled", or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this press release, the Company has applied several material assumptions, including without limitation, that there will be investor interest in future financings, market fundamentals will result in sustained precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration and development of the Company's projects in a timely manner, the availability of financing on suitable terms for the exploration and development of the Company's projects and the Company's ability to comply with environmental, health and safety laws.

The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, the estimation or realization of mineral reserves and mineral resources, the inability of the Company to obtain the necessary financing required to conduct its business and affairs, as currently contemplated, the timing and amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the development of new deposits, requirements for additional capital, future prices of precious metals, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in future financings, accidents, labor disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, risks relating to epidemics or pandemics such as COVID-19, including the impact of COVID-19 on the Company's business, financial condition and results of operations, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of the Company to obtain any necessary permits, consents, approvals or authorizations, including stock exchange approvals and approval for a new CUSIP number in connection with the Name Change, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and other factors that are discussed in the Company's periodic filings with the SEC.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this press release or incorporated by reference herein, except as otherwise required by law.

CONTACT:

John Power
President
707-291-6198

SOURCE: Athena Silver Corp.

View source version on accesswire.com:
https://www.accesswire.com/641242/Athena-Gold-Corporation-announces-David-Beling-PE-as-Senior-Technical-Advisor

For Immediate Release

Chicago, IL – April 20, 2021 – Today, Zacks Equity Research discusses Mining – Non-Ferrous, including Southern Copper Corporation SCCO, Freeport-McMoRan Inc. FCX and Kaz Minerals PLC KZMYY.

Link: https://www.zacks.com/commentary/1419682/3-non-ferrous-metal-mining-stocks-to-watch-in-a-prospering-industry

After bearing the brunt of weak demand last year primarily due to the COVID-19 pandemic, the Zacks Mining – Non Ferrous  industry has made a strong comeback aided by prospects of improving demand stemming from the ongoing global economic recovery.

Miners including Southern Copper Corp, Freeport-McMoRan and Kaz Minerals are poised well to capitalize on this trend. Their concerted efforts to control costs and invest in technology will increase efficiency, thereby bolstering margins.

About the Industry

The Zacks Mining – Non Ferrous industry comprises companies that produce non-ferrous metals, including copper, gold, silver, cobalt, molybdenum, zinc, aluminum and uranium. These metals are utilized by a wide array of industries that include aerospace, automotive, packaging, construction, industrial machinery, electronics, transportation, jewelry, chemical, and nuclear energy.

What’s Shaping the Future of Mining-Non Ferrous industry

Prospects of Higher Demand Stemming From Global Economic Recovery: The coronavirus pandemic had impacted non-ferrous metal prices last year barring gold, which gained on the back of its safe-haven demand. Also, miners had to curtail or stop production to adhere to restrictions imposed by various governments to stem the spread of COVID-19.

Slowdown in industrial activity severely impacted demand for industrial metals like copper and silver. However, commodity prices have since turned around, courtesy of improving industrial activity globally, rollout of vaccines, optimism regarding a strong US economic growth and robust demand from China. Further, President Biden’s plan to spend $2 trillion to overhaul and upgrade the nation’s infrastructure and promote green policies will require huge amount of non-ferrous metals.

Cost Control & Innovation to Increase Efficiency: The industry has been facing a shortage of skilled workforce, which has led to a spike in wages. Moreover, labor-related disputes can be damaging to production and revenues. Since the industry cannot control the prices of its products, 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.

Impending Demand and Supply Imbalance: The industry players are currently dealing with depleting resources, declining supply in old mines and lack of new mines. Development projects are inherently risky and capital intensive. Demand for non-ferrous metals will remain high in the future given their wide usage in primary sectors including transportation, electricity, construction, telecommunication, energy, information technology and materials.

While demand remains strong, there will be an eventual deficit in metal supply leading to a situation that will bolster metal prices. This, in turn, will favor the industry in the long haul.

Zacks Industry Rank Indicates Bright Prospects

The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates bright prospects in the near term. The Zacks Mining – Non Ferrous industry, which is a nine stock group within the broader Zacks Basic Materials Sector, currently carries a Zacks Industry Rank #98, which places it at the top 39% of 256 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.

Looking at the aggregate earnings estimate revisions, it appears that analysts are gradually losing confidence in this group’s earnings growth potential. Since the beginning of this year, the industry’s earnings estimate for the current year has gone up 87%.

Before we present a few stocks that you may want to consider for your portfolio, let’s take a look at the industry’s recent stock-market performance and valuation picture.

Industry Versus Broader Market

The Zacks Mining- Non Ferrous Industry has outperformed the Zacks S&P 500 composite and its own sector over the past year. The stocks in this industry have collectively soared 219.6% in the past year compared with the S&P 500’s and its sector’s rally of 78.1% and 51.2%, respectively.

Industry’s Current Valuation

On the basis of forward 12-month EV/EBITDA ratio, which is a commonly used multiple for valuing Mining- Non Ferrous stocks, we see that the industry is currently trading at 6.98X compared with the S&P 500’s 15.80X. The Basic Materials sector’s forward 12-month EV/EBITDA is at 29.38X.

Over the last five years, the industry has traded as high as 8.88X and as low as 4.80X, with the median being at 6.47X.

3 Mining-Non Ferrous Stocks to Keep an Eye On

Southern Copper: This Phoenix, AZ based company engages in mining, exploring, smelting, and refining copper and other minerals.

The company has the largest copper reserves in the industry and operates high-quality, world-class assets. Its constant focus on increasing low-cost production is commendable. The company will benefit from its efforts to grow in Peru given that the country is currently the second largest producer of copper globally and holds 13% of the world’s copper reserves.

It is worth mentioning that Peru’s national output is expected to grow to 225000 tons in 2022 and 245000 tons in 2023. Notably, Southern Copper’s total investment program in Peru runs to $7.9 billion. The recent rally in copper and silver prices bode well for the company.

The Zacks Consensus Estimate for the company’s earnings in 2021 suggests year-over-year growth of 66%. The estimate has moved up 20% in 90 days’ time. It has a long-term estimated earnings growth rate of 17.8%. The company’s shares have gained 54.6% in the past six months. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.

Kaz Minerals: This U.K.-based company and its subsidiaries engage in mining and processing copper and other metals (gold, silver, zinc) primarily in Kazakhstan and Kyrgyzstan.

The company is well positioned to grow on the back of its large scale, low cost open copper pit mines. Its constant focus on applying modern technology to develop deposits has helped build a portfolio of highly profitable mines with low operating costs. The Aktogay expansion project carrying a total budget of $1.2 billion is expected to commence production in late 2021.

It is anticipated to boost the company’s copper production by 80,000 tons in the 2022-2027 time period and 60,000 tons thereafter. The bankable feasibility study for the Baimskaya copper project is expected to be completed in the first half of 2021. Baimskaya is one of the world’s largest undeveloped copper resources with the potential to be a large scale, low cost open pit copper mine.

The Zacks Consensus Estimate for the company’s earnings for the current fiscal year has moved up 8% over the past 90 days. Its shares have appreciated 58.4% over the past six months. The stock carries a Zacks Rank #2 (Buy).

Freeport-McMoRan: This Phoenix, AZ-based company is engaged in mineral exploration and development; mining and milling of copper, gold, molybdenum and silver; and smelting and refining of copper concentrates.

Freeport is conducting exploration activities near existing mines with a focus on opportunities to expand reserves. The company will benefit from the ongoing large-scale concentrator expansion project at Cerro Verde that will provide incremental annual production of around 600 million pounds of copper and 15 million pounds of molybdenum.

It recently completed the Lone Star copper leach project and is on track to produce around 200 million pounds of copper annually. The company's effective cost management and efforts to reduce debt levels appear encouraging. Higher copper prices will also drive results.

The Zacks Consensus Estimate for earnings for fiscal 2021 indicates year-over-year improvement of 391%. The estimate has been revised upward by 22% over the past 90 days. Shares of the company, which carries a Zacks Rank #3 (Hold), has soared 116.5% over the past six months. The company has a long-term estimated earnings growth rate of 26.5%.

Zacks Top 10 Stocks for 2021

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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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