VANCOUVER, British Columbia, April 14, 2021 (GLOBE NEWSWIRE) — Medallion Resources Ltd. (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) – “Medallion” or the “Company”), announces completion of a suite of diagnostic test work at the Australian Nuclear Science and Technology Organization (ANSTO) in Sydney, to extract rare earth elements (REE) from mineral sand monazite. The monazite was sourced from an Australian mineral sand mine. Discussion is ongoing with additional prospective suppliers.

Mineral sand monazite is an abundant REE-rich feedstock, that can be accessed as a by-product from global mineral-sand mines that target zirconium and titanium, without the need for additional mining. Medallion’s business model is centered on the Medallion Monazite Process, a transferable and scalable technology designed to accept multiple mineral-sand monazite feedstocks and extract high-value REEs with high efficiency, high recovery and zero liquid waste.

Current and ongoing test work is focused on correlating low cost “diagnostic” mineralogical and chemical data from “run of mine” monazite, sourced from operating mines and prospective producers, with extraction results from the Medallion Monazite Process. This growing data bank will ensure optimal process conditions can be anticipated for all monazite sources and optimal sites identified for a Medallion Monazite Processing hub.

The diagnostic test work builds upon research completed by Medallion over the past 5 years in Saskatchewan, Canada. ANSTO’s deep experience in REE-processing and mineral sand monazite makes it an unrivaled research partner for Medallion’s ongoing work.

Medallion utilizes Life Cycle Assessment (LCA) as a tool to help reduce the environmental and CO₂ impact of REE production wherever possible. Processing mineral-sand monazite close to source presents the most sustainable solution versus long distance transport. As Australia, South East Asia and the Indian Ocean region are the dominant global sources of mineral sand monazite, expanding research networks in this region, with partners like ANSTO, is highly relevant for future business opportunities.

“The study we have just completed at ANSTO enables us to be increasingly predictive toward REE- extraction and separation process conditions,” said Mark Saxon, CEO and President. “By acquiring a simple set of data from monazite suppliers, we can be predictive on the process conditions, costs and quantity of market-ready REE products.”

Techno-Economic Assessment (TEA) Update

Utilizing independent consultants, Medallion is presently finalizing a Techno-Economic Assessment (TEA) and Life Cycle Assessment (LCA) for the Medallion Monazite Process (see press release dated November 10 2020) and January 5 2021. These studies draw together Medallion’s engineering, financial and environmental impact data and will become the foundation of Medallion’s technology execution strategy.

Delivery of the TEA has unfortunately been impacted by COVID-19 staffing restrictions within consulting service providers. Results are now anticipated by mid-May 2021.

Mark Saxon further commented, “while reporting delays are never ideal, we acknowledge the current challenges and restrictions faced by consultants and researchers in the execution of their business. The financial and LCA model is a far-reaching study that will allow us to compare and prioritize operating locations and feedstocks to ensure the most profitable and lowest-environmental impact decisions are made.”

About Medallion Resources

Medallion Resources has developed a proprietary process and related business model to achieve low-cost, near-term, rare-earth element (REE) production by exploiting monazite. Monazite is a rare-earth phosphate mineral that is widely available as a by-product from mineral sand mining operations. Furthermore, Medallion has recently licensed an innovative REE separation technology from Purdue University which can be utilized by Medallion and sub-licensed by Medallion to third-party REE producers.

REEs are critical inputs to electric and hybrid vehicles, electronics, imaging systems, wind turbines and strategic defense systems. Medallion is committed to following best practices and accepted international standards in all aspects of mineral transportation, processing and the safe management of waste materials. Medallion utilizes Life Cycle Assessment methodology to support investment and process decision making.

More about Medallion (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) can be found at medallionresources.com.

Contact(s):

Mark Saxon, President & CEO
Donald Lay, Director & VP, Corporate Development
+1.604.681.9558 or info@medallionresources.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.

Medallion management takes full responsibility for content and has prepared this news release. Some of the statements contained in this release are forward-looking statements, such as statements that describe Medallion’s plans with respect to the completion of additional tranche(s) of the Offering and the intended use of the proceeds. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties, including the risks related to market conditions and regulatory approval and other risks outlined in the Company’s management discussions and analysis of financial results. Actual results in each case could differ materially from those currently anticipated in these statements. Also, in order to proceed with Medallion’s plans, additional funding will be necessary and, depending on market conditions, this funding may not be forthcoming on a schedule or on terms that facilitate Medallion’s plans. These forward-looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, Medallion disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.

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

CALGARY, AB / ACCESSWIRE / April 13, 2021 / New Stratus Energy Inc. (TSXV:NSE) ("New Stratus" or the "Corporation") announces the grant of incentive stock options to acquire a total of 1,290,000 common shares of the Corporation to various directors, officers and consultants of the Corporation pursuant to the Corporation's stock option plan and subject to any regulatory approval. Each stock option, vests immediately and is exercisable at a price of $0.24 per share for a period of five years from the grant date.

Contact Information:

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

SOURCE: New Stratus Energy Inc.

View source version on accesswire.com:
https://www.accesswire.com/640313/New-Stratus-Energy-Announces-Option-Grants

Initial 15-hole drill program expected to commence in June

Geophysical Surveys

Geology reconnaissance and surface sampling; helicopter borne magnetometry and radiometric (“Heli-mag”); and a 14-line Controlled Source Audio Magneto Telluric survey, (“CSAMT”)

WATCH VIDEO SUMMARY OF THE PRESS RELEASE

WINNEMUCCA, Nevada, April 13, 2021 (GLOBE NEWSWIRE) — Paramount Gold Nevada Corp. (NYSE American: PZG) announced today that it has received all required permits to conduct exploratory drilling at the Frost Project (“Frost”) in Eastern Oregon from the Bureau of Land Management (“BLM”), the Oregon Department of Geology and Mineral Industries (“DOGAMI”) and associated agencies.

Frost is comprised of 84 unpatented lode claims covering approximately 1,730 acres located 12 miles southwest of the Company’s proposed high-grade, underground Grassy Mountain gold mine in Malheur County, Oregon (“Grassy”).

Paramount CEO, Rachel Goldman stated: “Our team is excited to undertake the upcoming drill program at Frost given the high-grade nature of the historic intercepts which yielded up to 25 g/T gold and 27 g/T silver but were never properly evaluated.”

Given the proximity of Frost to Grassy, mineralized material would be trucked as mill feed to the Grassy processing facility. Every incremental 270,000 tonnes of economic mineralized material would extend the mine life by a year, improving overall project economics as defined in the Grassy Feasibility study.

The interpretation of the historic drilling data in conjunction with geophysical survey results provided the basis for the planned 9,000 ft., 15-hole reverse circulation drill campaign which is expected to start in late Q2, 2021.

The historic high-grade gold encountered at Frost was from structures exhibiting magnetic lows in rock formations similar in nature to those found at Grassy.

Since acquiring the Frost Project in 2018, Paramount has completed multiple surveys, including: geology reconnaissance and surface sampling; helicopter borne magnetometry and radiometric (“Heli-mag”); and a 14-line Controlled Source Audio Magneto Telluric survey, (“CSAMT”).

• Heli-mag & Radiometric: Due to the nature of deposits like Grassy and the Frost prospect, alteration and/or oxidation along mineralized or fluid conducting structures, exhibit a relatively lower magnetic signature. Additionally, potassium rich minerals such as adularia and sericite are often associated with gold deposition and since potassium is a slightly radiometric element, it can be mapped by sensors.

• CSAMT: This study measures the variation in electrical conductivity of different rock types, enabling the favourable rocks and faults to be mapped at varying elevations to create a three-dimensional model. Grassy and Frost are the type of deposits where gold is also associated with an increase in non-conductive silica. By mapping conductivity, areas of increased silicification are identified as zones of very low conductivity or inversely, as high resistivity.

Paramount President and COO, Glen van Treek explained: “All of these surveys, along with field examination, rock sampling, mapping, geological staff experiences and 3-D analysis have helped to design the upcoming drilling campaign.”

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6895e0c1-f156-418d-8d53-141d200e30f7

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 into 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

Toronto, Ontario–(Newsfile Corp. – April 13, 2021) – Maritime Resources Corp. (TSXV: MAE) ("Maritime" or the "Company") is pleased to announce the exercise of 12,959,357 common share purchase warrants for gross proceeds of $1.94 million. Each common share purchase warrant was exercisable for one whole common share of the Company, for a period of two years at an exercise price of $0.15. The warrants were issued in connection with a non-brokered private placement announced on March 14, 2019. Maritime currently has 7.9 million common share purchase warrants outstanding.

"This infusion of cash further strengthens Maritime's balance sheet, which following the close of Tembo Capital's private placement and the purchase of the Nugget Pond gold circuit announced earlier today brings the Company's current cash position to $11.5 million," commented Garett Macdonald, President and CEO of Maritime. "2021 will be a pivotal year for Maritime as we advance the Hammerdown Gold Project through feasibility and permitting while conducting an extensive exploration program across our key projects in Newfoundland and Labrador," continued Mr. Macdonald.

Maritime would like to acknowledge the financial support provided through the Government of Newfoundland and Labrador's Junior Exploration Assistance Program for the Company's exploration program conducted at the Green Bay project during 2020.

About Maritime Resources Corp.

Maritime holds a 100% interest, directly and subject to option agreements entitling it to earn 100% ownership, in the Green Bay Property, including the former Hammerdown gold mine, and the Orion gold project plus the Whisker Valley exploration project, all located in the Baie Verte Mining District near the town of King's Point, Newfoundland and Labrador. The Hammerdown Gold Project is characterized by near-vertical, narrow mesothermal quartz veins containing gold associated with pyrite. Hammerdown was last operated by Richmont Mines between 2000-2004.

On Behalf of the Board:

Garett Macdonald, MBA, P.Eng.
President and CEO

For further information, please contact:

Tania Barreto, CPIR
Head of Investor Relations
1900-110 Yonge Street, Toronto, ON M5C 1T4
416-365-5323
www.maritimeresourcescorp.com

Twitter
Facebook
LinkedIn
YouTube

Caution Regarding Forward Looking Statements:

Certain of the statements made and information contained herein is "forward-looking information" within the meaning of National Instrument 51-102 – Continuous Disclosure Obligations. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects", "intends", "indicates" "plans" and similar expressions. Forward-looking statements include statements concerning the potential to increase mineral resource and mineral reserve estimates, the Company's decision to restart the Project, the Company's plans regarding depth extension of the deposit at Hammerdown, the Company's plans regarding completing additional infill and grade control testing within the PEA mine plan, the Company's plans regarding drilling targets previously identified, the anticipated timing of provincial environmental assessment approval for Hammerdown, the Company's plans related to the Nugget Pond gold circuit, including receipt of certain approvals related to those activities, and the Company's decision to acquire new mineral property interests and assets and other business opportunities, amongst other things, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. All forward-looking statements and forward-looking information are based on reasonable assumptions that have been made by the Company in good faith as at the date of such information. Such assumptions include, without limitation, the price of and anticipated costs of recovery of, base metal concentrates, gold and silver, the presence of and continuity of such minerals at modeled grades and values, the capacities of various machinery and equipment, the use of ore sorting technology will produce positive results, the availability of personnel, machinery and equipment at estimated prices, mineral recovery rates, and others. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the ability of the Company to continue to be able to access the capital markets for the funding necessary to acquire, maintain and advance exploration properties or business opportunities; global financial conditions, including market reaction to the coronavirus outbreak; competition within the industry to acquire properties of merit or new business opportunities, and competition from other companies possessing greater technical and financial resources; difficulties in advancing towards a development decision at Hammerdown and executing exploration programs at its Newfoundland and Labrador properties on the Company's proposed schedules and within its cost estimates, whether due to weather conditions, availability or interruption of power supply, mechanical equipment performance problems, natural disasters or pandemics in the areas where it operates; increasingly stringent environmental regulations and other permitting restrictions or maintaining title or other factors related to exploring of its properties, such as the availability of essential supplies and services; factors beyond the capacity of the Company to anticipate and control, such as the marketability of mineral products produced from the Company's properties; uncertainty as to whether the acquisition of assets and new mineral property interests will be completed in the manner currently contemplated by the parties; uncertainty as to whether mineral resources will ever be converted into mineral reserves once economic considerations are applied; uncertainty as to whether inferred mineral resources will be converted to the measured and indicated categories through further drilling, or into mineral reserves, once economic considerations are applied; government regulations relating to health, safety and the environment, and the scale and scope of royalties and taxes on production; and the availability of experienced contractors and professional staff to perform work in a competitive environment and the resulting adverse impact on costs and performance and other risks and uncertainties, including those described in each MD&A of financial condition and results of operations. In addition, forward-looking information is based on various assumptions including, without limitation, assumptions associated with exploration results and costs and the availability of materials and skilled labour. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, Maritime undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.

Neither TSX Venture Exchange ("TSX-V") nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) 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/80326

When you buy a stock there is always a possibility that it could drop 100%. But on the bright side, you can make far more than 100% on a really good stock. One great example is Hargreaves Services Plc (LON:HSP) which saw its share price drive 102% higher over five years. Also pleasing for shareholders was the 15% gain in the last three months.

Check out our latest analysis for Hargreaves Services

While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time.

Hargreaves Services' earnings per share are down 33% per year, despite strong share price performance over five years.

Essentially, it doesn't seem likely that investors are focused on EPS. Because earnings per share don't seem to match up with the share price, we'll take a look at other metrics instead.

The modest 1.7% dividend yield is unlikely to be propping up the share price. The revenue reduction of 13% per year is not a positive. So it seems one might have to take closer look at earnings and revenue trends to see how they might influence the share price.

The image below shows how earnings and revenue have tracked over time (if you click on the image you can see greater detail).

We consider it positive that insiders have made significant purchases in the last year. Having said that, most people consider earnings and revenue growth trends to be a more meaningful guide to the business. This free report showing analyst forecasts should help you form a view on Hargreaves Services

What About Dividends?

As well as measuring the share price return, investors should also consider the total shareholder return (TSR). Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. As it happens, Hargreaves Services' TSR for the last 5 years was 124%, which exceeds the share price return mentioned earlier. And there's no prize for guessing that the dividend payments largely explain the divergence!

A Different Perspective

It's good to see that Hargreaves Services has rewarded shareholders with a total shareholder return of 55% in the last twelve months. And that does include the dividend. Since the one-year TSR is better than the five-year TSR (the latter coming in at 18% per year), it would seem that the stock's performance has improved in recent times. In the best case scenario, this may hint at some real business momentum, implying that now could be a great time to delve deeper. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. To that end, you should be aware of the 2 warning signs we've spotted with Hargreaves Services .

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

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

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

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

Toronto, Ontario–(Newsfile Corp. – April 13, 2021) – Monarca Minerals, Inc. (TSXV: MMN) ("Monarca" or the "Company") is pleased to announce the execution and ratification by a Mexican Notary Public of the surface rights agreement with Colonia on the San Jose Silver Project ("San Jose") located near the USA border in Chihuahua, Mexico.

As the Company informed on the press release dated March 4, 2021, surface lands for the San Jose project area are partially covered by "Ejido" lands and "Colonia" lands (community or communal lands), therefore the Company is required to sign a surface rights agreement with both the Ejido and Colonia authorities to advance its environmental permit to proceed with its planned 5,000 meters drilling program.

Eight of the ten targets for the drilling program are located on Colonia, and with the execution of this surface land agreement with Colonia the Company is ready to apply for the environmental permit that will allow to drill on Colonia section. Simultaneously, Monarca will continue negotiations to sign the surface rights agreement with Ejido.

As part of the planning for the drilling program, the Company has been working with Matrix Geotechnologies, Ltd., a Canadian geophysics company that did the geophysics program in San Jose on 2018, and now is advising Monarca's technical team to finalize the targets.

In the same line of preparation, we are please to inform that Monarca engaged Layne de México, SA de CV, a Mexican subsidiary of Layne's Mineral Services Division as a contractor for the 5,000 meters drilling program.

Layne Mineral Services is one of the three largest providers of drilling services in the Americas, and its Mexican subsidiary has the equipment and technical team located in the neighbour state of Sonora, Mexico, offering a minimal impact on transportation of equipment and transfer of technical team to the site.

The Company expects to receive the environmental permit in a few weeks.

Qualified Person Statement

Michael R. Smith is the Qualified Person (QP) who has prepared and approved the scientific and technical information disclosed in this news release. Mr. Smith is a Registered Member (#04167376 – Geology) of the Society for Mining, Metallurgy & Exploration (SME) and the Executive Vice President, Exploration for Monarca Minerals Inc.

About Monarca Minerals Inc.

Monarca is a Canadian mining company listed on the TSX Venture Exchange (TSXV: MMN) and focused on the exploration and development of silver projects along a highly productive mineralized belt in Mexico. The Company has a portfolio of silver projects including an Inferred Mineral Resource of 19.8 million tonnes at 45.0 g/t Ag (28.7 million ounces of contained silver) at its Tejamen deposit in Durango, Mexico.

For further information, please contact:

Carlos Espinosa
President, CEO & Director
Monarca Minerals Inc.
E: cespinosa@slgmexico.com

Cautionary Note Regarding Forward-Looking Statements Forward-Looking Statements:

The above 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 include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues and mineral recovery processes. 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.

Neither the TSX Venture Exchange nor its Regulation Service 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 DISTRIBUTION TO UNITED STATES WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/80294

Vancouver, British Columbia–(Newsfile Corp. – April 12, 2021) – Lara Exploration Ltd. (TSXV: LRA) ("Lara" or "the Company"), is pleased to report that it has completed a reappraisal of the diamond drilling and ground magnetometer survey results for its Itaítuba vanadium project, in the Tapajós region of northern Brazil. Project work initially focused on vanadium-bearing magnetite bodies, but the recent work has shown that the host gabbros also contain disseminated vanadium-bearing magnetite that can be concentrated to enrich the vanadium grade. Surface mapping and the magnetic survey show these gabbros to be extensive within the Lara property and the Company plans to undertake further geophysical surveys and follow-up drilling later in the year.

Half core samples from four scout holes were subjected to Davis Tube Recovery ("DTR") testing and the resulting magnetic concentrates then assayed for vanadium pentoxide ("V2O5"). In the fresh rock sections of three of the holes (holes SR-02, SR-03 and SR-04), significant intervals were identified, where the magnetite concentrate recovery values are in the order of 10 to 20% of the original core sample mass. In two of these holes (SR-03 and SR-04) the V2O5 grades for these concentrates are in the order of 0.8% to 1.1% (see table below). The hole SR-04 has the thickest interval of 47.65m and is still open to depth. The down hole intervals are assumed to be approximately true width, based on the surface mapping information and the drill core logging.

No significant vanadium enrichment was detected in the magnetic concentrates in the weathered saprolite upper parts of any of the four drill holes. The core logging indicates that the vanadium enriched zones are associated with intercalated units of magnetite-olivine-gabbro and ferro-gabbro. Contacts observed in the cores indicate a sub-horizontal or gently west-dipping attitude for these units consistent with the dips of the overlying massive magnetite bodies.

Review of ground magnetic data indicates that drill hole SR-04 is located central to a large anomaly in the order of 700m (E-W) by 300m to 400m (N-S), at the southern end of the complex, indicating the possibility that the vanadium-bearing disseminated magnetite units could have a large horizontal extent in this southern part of the complex (see Figure 1. below). Holes SR-02 and SR-03, which reported narrower and lower grade vanadium pentoxide intersections, are both located in a similar-sized magnetic anomaly immediately to the north of the SR-04 zone and other strong magnetic anomaly zones are present along the northward extension for a further 2,000m along the main ridge. Surface geological mapping suggests that the entire ridge is underlain by the gabbro complex.

Figure 1

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/2373/79965_picture1.jpg

Further work is planned, including extensions to the original ground magnetics survey, geological mapping with the objective to identify the more magnetite-rich ferro-gabbro phases within the complex, and drill testing of the priority target unit already identified at the southern end of the complex, as well as scout drilling at other priority magnetic zones in the central and northern parts of the complex.

Background

Work at the Itaítuba project initially focused on outcropping massive vanadium and titanium bearing magnetite bodies, hosted in a gabbro complex, as a possible direct shipping ore. The surface rock chip sampling indicated that the magnetites contained between 21% and 24% titanium dioxide ("TiO2") and from 0.35 to 0.5% V2O5 (see Lara news release of April 17th, 2012).

Surface geological mapping and the scout drilling of four shallow holes, from 35m to 75m in depth, located in the southern end of the host gabbro complex, show that these magnetite bodies are flat sheet-like bodies from 2m to 8m thick with a shallow westerly dip. The early Quemscan and Davis Tube Recovery testing on selected surface samples suggested that it would not be possible to obtain a concentrate of any better vanadium grade because the titanium and vanadium are both contained within the magnetite crystal structure (see Lara news release of February 11^th, 2014).

Logging of the drill core indicated that the massive magnetites are hosted by a multi-phase system of different gabbro intrusives, some of which are extremely enriched in disseminated magnetite (ferro-gabbros). Initial sampling of a few short intervals of these magnetite-rich gabbro phases indicated that it was possible to obtain a magnetite concentrate from some of the samples of between 6.6% and 42.6% of the original sample weight and that these concentrates analyzed V2O5 grades from 0.32 % up to 1.03% V2O5 with enrichment factors up to 10.8 times the vanadium pentoxide values in the core samples (see Lara news release of February 26^th, 2019).

Sampling methodology, Chain of Custody, Quality Assurance and Quality Control

All the rock channel and drill core sampling were carried out by or under the supervision of the Company's Vice-President Exploration and the chain of custody of the samples and drill core from the project area to the Company's sample preparation facilities in Itaituba and Canãa dos Carajás was continuously monitored.

Sample intervals for the drill core samples varied between 0.2m and 3.0m. The core samples were delivered to the sample preparation laboratories of SGS-Geosol in Parauapebas and to ALS in Goiânia where the samples were crushed and pulverized. SGS-Geosol dispatched sample pulps to their own analytical laboratory at Vespasiano, near Belo Horizonte, Minas Gerais State, Brazil, whereas ALS dispatched the pulps to their dedicated facility in Loughrea, Ireland.

Davis Tube Recovery magnetic concentrates were obtained for each sample, using a magnetic field force of 3000 Gauss and the concentrates, after drying and weighing to determine the percentage of magnetic iron concentrate recovery, were analyzed by XRF for V2O5, TiO2, Fe2O3 and seven other oxides after fusion with lithium tetraborate and for Loss on Ignition, which was determined by heating the sample in a furnace at 405 degrees centigrade.

Both SGS-Geosol and ALS inserted blank, certified standard and duplicate samples into each sample batch. Both laboratories are independent from Lara.

Michael Bennell, Lara's Vice President Exploration and a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM), is a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects and has approved the technical disclosure and verified the technical information in this news release.

About Lara Exploration

Lara is an exploration company following the Prospect and Royalty Generator business model, which aims to minimize shareholder dilution and financial risk by generating prospects and exploring them in joint ventures funded by partners, retaining a minority interest and or a royalty. The Company currently holds a diverse portfolio of prospects, deposits and royalties in Brazil, Peru and Chile. Lara's common shares trade on the TSX Venture Exchange under the symbol "LRA".

For further information on Lara Exploration Ltd. please consult our website www.laraexploration.com, or contact Chris MacIntyre, VP Corporate Development, at +1 416 703 0010.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

-30-

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/79965

Today we will run through one way of estimating the intrinsic value of Aurelia Metals Limited (ASX:AMI) by taking the forecast future cash flows of the company and discounting them back to today's value. We will take advantage of the Discounted Cash Flow (DCF) model for this purpose. Models like these may appear beyond the comprehension of a lay person, but they're fairly easy to follow.

Companies can be valued in a lot of ways, so we would point out that a DCF is not perfect for every situation. If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in the Simply Wall St analysis model.

See our latest analysis for Aurelia Metals

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$371m

We now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period. The Gordon Growth formula is used to calculate Terminal Value at a future annual growth rate equal to the 5-year average of the 10-year government bond yield of 2.0%. We discount the terminal cash flows to today's value at a cost of equity of 7.8%.

Terminal Value (TV)= FCF₂₀₃₀ × (1 + g) ÷ (r – g) = AU$80m× (1 + 2.0%) ÷ (7.8%– 2.0%) = AU$1.4b

Present Value of Terminal Value (PVTV)= TV / (1 + r)¹⁰= AU$1.4b÷ ( 1 + 7.8%)¹⁰= AU$664m

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$1.0b. To get the intrinsic value per share, we divide this by the total number of shares outstanding. Compared to the current share price of AU$0.4, the company appears quite undervalued at a 49% discount to where the stock price trades currently. The assumptions in any calculation have a big impact on the valuation, so it is better to view this as a rough estimate, not precise down to the last cent.

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 Aurelia Metals 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 7.8%, which is based on a levered beta of 1.106. 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.

Moving On:

Although the valuation of a company is important, it shouldn't be the only metric you look at when researching a company. It's not possible to obtain a foolproof valuation with a DCF model. Preferably you'd apply different cases and assumptions and see how they would impact the company's valuation. For instance, if the terminal value growth rate is adjusted slightly, it can dramatically alter the overall result. What is the reason for the share price sitting below the intrinsic value? For Aurelia Metals, there are three pertinent aspects you should explore:

1. Risks: To that end, you should be aware of the 3 warning signs we've spotted with Aurelia Metals .

2. Future Earnings: How does AMI'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 Solid Businesses: Low debt, high returns on equity and good past performance are fundamental to a strong business. Why not explore our interactive list of stocks with solid business fundamentals to see if there are other companies you may not have considered!

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, British Columbia, April 12, 2021 (GLOBE NEWSWIRE) — Aton Resources Inc. (AAN: TSX-V) ("Aton" or the "Corporation") announces that it has agreed to settle a total of CAD$116,348.49 in debt (the “Debt”) to directors and employees in exchange for 484,785 common shares (the “Shares”) at a price of $0.24 per Share (the “Shares for Debt”).

Bill Koutsouras, Aton’s Interim CEO & Chairman of the Board stated, “I would like to thank the directors and employees who have opted to receive amounts payable to them in Shares. This is a show of confidence in Aton as we continue to move forward aggressively with plans to recommence drilling on our projects”.

The Shares for Debt transaction is subject to the approval of the TSX Venture Exchange. All Shares issued will be subject to a four-month hold period. No new control person will be created as a result of the Shares for Debt transactions.

VANCOUVER, British Columbia, April 12, 2021 (GLOBE NEWSWIRE) — Silver Bull Resources, Inc. (TSX: SVB, OTCQB: SVBL) (“Silver Bull” or the “Company”) today announced that it is postponing its 2021 annual meeting of shareholders (the “Meeting”) to April 19, 2021 to provide its shareholders with additional time to vote on the proposals submitted for shareholder approval at the Meeting. Shareholders are advised that because one of the proposals involves proposed amendments to the Company’s articles of incorporation, the holders of a majority of the outstanding shares of Silver Bull common stock must approve such proposal.

The record date for determining the shareholders eligible to vote at the Meeting will remain the close of business on February 18, 2021. Shareholders who have already submitted a proxy do not need to vote again for the postponed Meeting rescheduled for Monday, April 19, 2021 at 10:00 a.m. Pacific time at the Company’s offices at 777 Dunsmuir Street, Suite 1610, Vancouver, British Columbia, as the proxies submitted will remain valid.

Of particular importance, the Company’s board of directors strongly recommends that all shareholders to vote “FOR” the proposal to increase the number of authorized shares. In the absence of an affirmative vote to increase the number of authorized shares of Silver Bull common stock, the Company will have virtually no shares available for issuance to raise funds to fund general corporate overhead or cover the costs associated with maintaining its mining interests, including in the Sierra Mojada project in Mexico.

Silver Bull shareholders as of close of business on February 18, 2021 who have not voted are encouraged to vote online at www.proxyvote.com or by telephone at 1-800-690-6903. The proxy voting deadline to vote by Internet or telephone is April 18, 2021 at 11:59 p.m. Eastern time. Silver Bull shareholders who require assistance with voting their shares or have questions may contact the Company by email at info@silverbullresources.com.

Shareholders who have already submitted proxies and want to change their proxy can update their vote at any time before the votes are cast at the Meeting. Your vote will be recorded at the Meeting in accordance with your most recently submitted proxy.

Important Information

This communication may be deemed to be solicitation material in connection with the proposals to be considered at the Meeting. In connection with the proposals, Silver Bull filed a definitive proxy statement on Schedule 14A with the U.S. Securities and Exchange Commission (the “SEC”) on February 23, 2021. Shareholders are urged to read the definitive proxy statement and all other relevant documents filed with the SEC because they contain important information about the proposals. An electronic copy of the definitive proxy statement is available on the Company’s website at www.silverbullresources.com, on the Company’s EDGAR profile at www.sec.gov, and on its SEDAR profile at www.sedar.com.

Participants in the Solicitation

Silver Bull and its directors and executive officers may be deemed to be participants in the solicitation of proxies from Silver Bull shareholders in respect of the proposals to be considered at the Meeting. Information about the directors and executive officers of Silver Bull can be found in its Annual Report on Form 10-K for the year ended October 31, 2020 filed with the SEC on January 28, 2021, filings on Form 3, 4 and 5 filed with the SEC, and the Company’s definitive proxy statement for the Meeting filed with the SEC on February 23, 2021.

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 proposals to be considered at the Meeting. 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.

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR TO US WIRE SERVICES

• Experienced public company CFO joins Rogue management team

• In February-March Rogue Stone sold 3,313 tons realizing an average price of $74/ton

• Average value of limestone sold rises as expected with increased demand for higher value products

TORONTO, ON / ACCESSWIRE / April 12, 2021 / Rogue Resources Inc. (TSX-V:RRS) ("Rogue" or the "Company") is pleased to announce the appointment of Mr. Travis Gingras as Chief Financial Officer ("CFO") of the Company. Mr. Gingras will replace Sean Samson, who has recently acted as Interim CFO.

Travis Gingras is a CPA, CMA and holds an MBA. He has more than twenty years of experience in finance, strategic planning, project management, accounting policy and financial reporting. Travis previously held CFO and executive level positions in a number of publicly traded exploration and mining companies including as CFO of Integra Gold Corp (formerly TSXV:ICG, purchased by Eldorado Gold in 2017).

"It's great to welcome Travis as CFO", said Sean Samson, President and CEO of Rogue. "Travis has a proven track record of sound leadership and financial expertise with public companies and we look forward to him joining the team."

Rogue Stone – February and March Update

Quarry Operations at the Orillia Quarry have continued through the winter and early spring with strong demand for Rogue's limestone products. During the months of February and March, the Company sold a total of 3,313 tons of limestone for gross revenue of $244,235 and are in line with the sales expectations following the closing of the 3^rd quarter on January 31, 2021. Rogue Stone also observed the expected increase in the value of the limestone sold as the demand for the higher value limestone products, including steps, wall stone and flagstone, begins to pick up with the arrival of spring and the warmer weather.

"As we approach our first full year of operations with both quarries, we are pleased to see that the demand and sales of limestone are continuing to meet or exceed expectations.", said Sean Samson, President and CEO of Rogue. "We anticipate that our sales will continue to increase through the spring and summer with rising revenue per ton sold as our sales mix shifts to more high value products."

About Rogue Resources Inc.

Rogue is a mining company focused on generating positive cash flow. Not tied to any commodity, it looks at rock value and quality deposits that can withstand all stages of the commodity price cycle. The Company includes Rogue Stone selling quarried limestone for landscape applications from two operating quarries in Ontario; Rogue Quartz focused on advancing its silica/quartz business with the Snow White Project in Ontario and the Silicon Ridge Project in Québec; Rogue Timmins with the gold potential at Radio Hill and an ownership position in the private company EV Nickel, exploring in the Shaw Dome.

Qualified Person

The Company's Projects are under the direct technical supervision of Paul Davis, P.Geo., and Vice-President of the Company. Mr. Davis is a Qualified Person as defined by NI 43-101. He has reviewed and approved the technical information in this press release. There are no known factors that could materially affect the reliability of the information verified by Mr. Davis.

For more information visit www.rogueresources.ca or contact:

+1-647-243-6581
info@rogueresources.ca

Cautionary Note Regarding Forward-Looking Statements:

This news release contains certain statements or disclosures relating to the Company that are based on the expectations of its management as well as assumptions made by and information currently available to the Company which may constitute forward-looking statements or information ("forward-looking statements") under applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "believes", "anticipates", "expects", "plans", "intends", "target", "estimates", "projects", "continue", "potential" and similar expressions, or are events or conditions that "will", "would", "may", "could" or "should" occur or be achieved. In particular, but without limiting the foregoing, this news release contains forward-looking statements pertaining to the following: closing of future tranches of the Private Placement.

The forward-looking statements contained in this news release reflect several material factors and expectations and assumptions of the Company including, without limitation: business strategies and the environment in which the Company will operate in the future; commodity prices; exploration and development costs; mining operations, drilling plans and access to available goods and services and development parameters; regulatory restrictions; the ability of the Company to obtain applicable permits; the ability of the Company to service its debt obligations; the Company's ability to qualify for government funded support programs; the Company's ability to raise capital on terms acceptable to it or at all; activities of governmental authorities (including changes in taxation and regulation); currency fluctuations; the unpredictable economic impact of the COVID-19 pandemic, including the acquisition of equipment and recruitment of human resources required for the sales expansion; the global economic climate; and competition.

The Company believes that the material factors, expectations and assumptions reflected in the forward-looking statements contained in this news release are reasonable at this time but no assurance can be given that these factors, expectations and assumptions will prove to be correct. The forward-looking statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements including, without limitation, those risks identified in the Company's most recent annual and interim management's discussion and analysis, copies of which are available on the Company's SEDAR profile at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive and are cautioned not to place undue reliance on these forward-looking statements.

The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in 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.

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

SOURCE: Rogue Resources Inc.

View source version on accesswire.com:
https://www.accesswire.com/639923/Rogue-Update-Appoints-new-CFO-Landscape-Stone-Sales-continue-through-February-and-March

Just because a business does not make any money, does not mean that the stock will go down. Indeed, Havilah Resources (ASX:HAV) stock is up 138% in the last year, providing strong gains for shareholders. But the harsh reality is that very many loss making companies burn through all their cash and go bankrupt.

Given its strong share price performance, we think it's worthwhile for Havilah Resources shareholders to consider whether its cash burn is concerning. 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. First, we'll determine its cash runway by comparing its cash burn with its cash reserves.

View our latest analysis for Havilah Resources

How Long Is Havilah Resources' Cash Runway?

A cash runway is defined as the length of time it would take a company to run out of money if it kept spending at its current rate of cash burn. Havilah Resources has such a small amount of debt that we'll set it aside, and focus on the AU$5.9m in cash it held at January 2021. In the last year, its cash burn was AU$2.9m. Therefore, from January 2021 it had 2.0 years of cash runway. Arguably, that's a prudent and sensible length of runway to have. Depicted below, you can see how its cash holdings have changed over time.

How Is Havilah Resources' Cash Burn Changing Over Time?

Whilst it's great to see that Havilah Resources has already begun generating revenue from operations, last year it only produced AU$167k, so we don't think it is generating significant revenue, at this point. As a result, we think it's a bit early to focus on the revenue growth, so we'll limit ourselves to looking at how the cash burn is changing over time. Notably, its cash burn was actually down by 57% in the last year, which is a real positive in terms of resilience, but uninspiring when it comes to investment for growth. Admittedly, we're a bit cautious of Havilah Resources due to its lack of significant operating revenues. So we'd generally prefer stocks from this list of stocks that have analysts forecasting growth.

Can Havilah Resources Raise More Cash Easily?

While we're comforted by the recent reduction evident from our analysis of Havilah Resources' cash burn, it is still worth considering how easily the company could raise more funds, if it wanted to accelerate spending to drive growth. Generally speaking, a listed business can raise new cash through issuing shares or taking on debt. Commonly, a business will sell new shares in itself to raise cash and drive growth. By comparing a company's annual cash burn to its total market capitalisation, we can estimate roughly how many shares it would have to issue in order to run the company for another year (at the same burn rate).

Since it has a market capitalisation of AU$61m, Havilah Resources' AU$2.9m in cash burn equates to about 4.7% of its market value. That's a low proportion, so we figure the company would be able to raise more cash to fund growth, with a little dilution, or even to simply borrow some money.

So, Should We Worry About Havilah Resources' Cash Burn?

As you can probably tell by now, we're not too worried about Havilah Resources' cash burn. For example, we think its cash burn relative to its market cap suggests that the company is on a good path. And even its cash runway was very encouraging. After taking into account the various metrics mentioned in this report, we're pretty comfortable with how the company is spending its cash, as it seems on track to meet its needs over the medium term. Taking a deeper dive, we've spotted 4 warning signs for Havilah Resources you should be aware of, and 2 of them are significant.

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

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

Just because a business does not make any money, does not mean that the stock will go down. For example, although Amazon.com made losses for many years after listing, if you had bought and held the shares since 1999, you would have made a fortune. But the harsh reality is that very many loss making companies burn through all their cash and go bankrupt.

Given this risk, we thought we'd take a look at whether Prairie Mining (ASX:PDZ) shareholders should be worried about its cash burn. In this report, we will consider the company's annual negative free cash flow, henceforth referring to it as the 'cash burn'. Let's start with an examination of the business' cash, relative to its cash burn.

View our latest analysis for Prairie Mining

How Long Is Prairie Mining's 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. When Prairie Mining last reported its balance sheet in December 2020, it had zero debt and cash worth AU$6.0m. Looking at the last year, the company burnt through AU$2.1m. That means it had a cash runway of about 2.9 years as of December 2020. Arguably, that's a prudent and sensible length of runway to have. You can see how its cash balance has changed over time in the image below.

How Is Prairie Mining's Cash Burn Changing Over Time?

Whilst it's great to see that Prairie Mining has already begun generating revenue from operations, last year it only produced AU$389k, so we don't think it is generating significant revenue, at this point. Therefore, for the purposes of this analysis we'll focus on how the cash burn is tracking. While it hardly paints a picture of imminent growth, the fact that it has reduced its cash burn by 49% over the last year suggests some degree of prudence. Prairie Mining makes us a little nervous due to its lack of substantial operating revenue. We prefer most of the stocks on this list of stocks that analysts expect to grow.

How Hard Would It Be For Prairie Mining To Raise More Cash For Growth?

Even though it has reduced its cash burn recently, shareholders should still consider how easy it would be for Prairie Mining to raise more cash in the future. Generally speaking, a listed business can raise new cash through issuing shares or taking on debt. Many companies end up issuing new shares to fund future growth. By comparing a company's annual cash burn to its total market capitalisation, we can estimate roughly how many shares it would have to issue in order to run the company for another year (at the same burn rate).

Prairie Mining has a market capitalisation of AU$55m and burnt through AU$2.1m last year, which is 3.8% of the company's market value. Given that is a rather small percentage, it would probably be really easy for the company to fund another year's growth by issuing some new shares to investors, or even by taking out a loan.

Is Prairie Mining's Cash Burn A Worry?

As you can probably tell by now, we're not too worried about Prairie Mining's cash burn. In particular, we think its cash runway stands out as evidence that the company is well on top of its spending. But it's fair to say that its cash burn reduction was also very reassuring. After taking into account the various metrics mentioned in this report, we're pretty comfortable with how the company is spending its cash, as it seems on track to meet its needs over the medium term. On another note, we conducted an in-depth investigation of the company, and identified 4 warning signs for Prairie Mining (1 is a bit concerning!) that you should be aware of before investing here.

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

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

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

Vancouver, British Columbia–(Newsfile Corp. – April 9, 2021) – Dynasty Gold Corp. (TSXV: DYG) (FSE: D5G) (OTC Pink: DGDCF) ("Dynasty" or the "Company") is pleased to announce that subject to Exchange approval, it has completed the first tranche of an oversubscribed non-brokered private placement of 3,026,176 units for gross proceeds of $514,450. Each unit consists of one common share at $0.17 and one common share purchase warrant at $0.25 for a period of two years. The Company shall have the right to call the outstanding Warrants for expiry upon 20 days notice in the event that the closing price of the common shares of the Company on the TSX-V is above $0.35 for 10 consecutive trading days. The units issued under the private placement are subject to a four-month hold period from the date of closing.

The proceeds from the private placement will be used to advance the company's gold projects and for general corporate purposes.

A drill permit was recently received for the Thundercloud project in Ontario. The Golden Repeat project in Nevada has a current drill permit. Exploration program planning is in progress and details will be announced in due course.

About Dynasty Gold Corp.

Dynasty Gold Corp. is a Canadian exploration company currently focused on gold exploration in North America with projects located in greenstone belts in Ontario and the Midas gold camp in Nevada. Currently, the 70% owned Hatu Qi2 gold mine in the Tien Shan Gold belt, Xinjiang, China, is in legal dispute with Xinjiang Non-Ferrous Industrial Metals Group and its subsidiary Western Region Gold Co. Ltd.. For more information, please visit Company's website www.dynastygoldcorp.com.

ON BEHALF OF THE BOARD OF DYNASTY GOLD CORP.

"Ivy Chong"

_________________________________
Ivy Chong, President & CEO

For additional information please contact:
Vancouver Office:
Ivy Chong
Phone: 604.633.2100. Email: ichong@dynastygoldcorp.com

This press release contains certain "forward-looking statements" that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The TSX Venture Exchange has not reviewed and does not accept 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/80007

TORONTO, April 09, 2021 (GLOBE NEWSWIRE) — Xanadu Mines Ltd (ASX: XAM, TSX: XAM) (Xanadu or the Company) wishes to advise the appointment of Tony Pearson as a Non-Executive Director of the Company, effective 3 May 2021.

Mr Pearson is an experienced industry executive and company director who has lived and worked in Mongolia, China, Hong Kong, the Philippines and Indonesia. He has a strong understanding of emerging jurisdictions, balanced with the need for western governance practices. He has experience raising capital across equities, hybrids, bonds, convertibles and project finance in numerous jurisdictions. Tony is currently Chair of Peak Resources Limited (ASX:PEK) having been nominated by Appian Capital Advisory, a leading natural resources private equity group. Tony is also Chair of Cellnet Group Limited (ASX:CLT), a Trustee of the Royal Botanic Garden & Domain Trust, a Non-Executive Director of Communicare and a former Non-Executive Director of Aspire Mining Limited (ASX:AKM) and Group Executive of SouthGobi Resources Ltd (TSX:SGQ, HKEX:1878). Prior to these non-executive appointments, Tony was a Managing Director at HSBC, where he led the bank’s Australasian natural resources business.

Andrew Stewart, Chief Executive Officer, said “I would like to welcome Mr Pearson to the Xanadu team and look forward to working with him and the Board as we lead Xanadu through the next stage of the Company’s growth strategy.”

Colin Moorhead, Non-Executive Chairman, said “Tony will make a strong addition to the Xanadu Board, which is now made up of a majority of Independent Non-Executive Directors. This is an exciting time to join, with our flagship Kharmagtai project at a critical point in its development. Welcome Tony to the Xanadu team.”

Mr Pearson will be paid a fee of A$60,000 p.a. and is eligible to participate in the Company’s Equity Incentive Plan.

For further information, please contact:
Andrew Stewart
Chief Executive Officer
Xanadu Mines Ltd M: +61 409 819 922
E: Andrew.stewart@xanadumines.com
W: www.xanadumines.com

This Announcement was authorised for release by Xanadu’s Board of Directors.

About Xanadu Mines Ltd:

Xanadu is an ASX and TSX listed Exploration company operating in Mongolia. We give investors exposure to globally significant, large scale copper-gold discoveries and low-cost inventory growth. Xanadu maintains a portfolio of exploration projects and remains one of the few junior explorers on the ASX or TSX who control an emerging Tier 1 copper-gold deposit in our flagship Kharmagtai project. For information on Xanadu visit: www.xanadumines.com.

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility of prices, but whether you will suffer a permanent loss of capital.' So it seems the smart money knows that debt – which is usually involved in bankruptcies – is a very important factor, when you assess how risky a company is. As with many other companies Hochschild Mining plc (LON:HOC) makes use of debt. But is this debt a concern to shareholders?

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. In the worst case scenario, a company can go bankrupt if it cannot pay its creditors. However, a more common (but still painful) scenario is that it has to raise new equity capital at a low price, thus permanently diluting shareholders. By replacing dilution, though, debt can be an extremely good tool for businesses that need capital to invest in growth at high rates of return. The first step when considering a company's debt levels is to consider its cash and debt together.

Check out our latest analysis for Hochschild Mining

What Is Hochschild Mining's Debt?

As you can see below, at the end of December 2020, Hochschild Mining had US$210.3m of debt, up from US$199.5m a year ago. Click the image for more detail. But it also has US$231.9m in cash to offset that, meaning it has US$21.6m net cash.

A Look At Hochschild Mining's Liabilities

The latest balance sheet data shows that Hochschild Mining had liabilities of US$173.4m due within a year, and liabilities of US$386.6m falling due after that. On the other hand, it had cash of US$231.9m and US$69.2m worth of receivables due within a year. So its liabilities outweigh the sum of its cash and (near-term) receivables by US$258.9m.

Of course, Hochschild Mining has a market capitalization of US$1.48b, so these liabilities are probably manageable. But there are sufficient liabilities that we would certainly recommend shareholders continue to monitor the balance sheet, going forward. Despite its noteworthy liabilities, Hochschild Mining boasts net cash, so it's fair to say it does not have a heavy debt load!

On the other hand, Hochschild Mining saw its EBIT drop by 2.3% in the last twelve months. That sort of decline, if sustained, will obviously make debt harder to handle. When analysing debt levels, the balance sheet is the obvious place to start. But it is future earnings, more than anything, that will determine Hochschild Mining's ability to maintain a healthy balance sheet going forward. So if you're focused on the future you can check out this free report showing analyst profit forecasts.

Finally, a business needs free cash flow to pay off debt; accounting profits just don't cut it. While Hochschild Mining has net cash on its balance sheet, it's still worth taking a look at its ability to convert earnings before interest and tax (EBIT) to free cash flow, to help us understand how quickly it is building (or eroding) that cash balance. During the last three years, Hochschild Mining produced sturdy free cash flow equating to 77% of its EBIT, about what we'd expect. This free cash flow puts the company in a good position to pay down debt, when appropriate.

Summing up

Although Hochschild Mining's balance sheet isn't particularly strong, due to the total liabilities, it is clearly positive to see that it has net cash of US$21.6m. The cherry on top was that in converted 77% of that EBIT to free cash flow, bringing in US$88m. So we don't think Hochschild Mining's use of debt is risky. When analysing debt levels, the balance sheet is the obvious place to start. However, not all investment risk resides within the balance sheet – far from it. For instance, we've identified 4 warning signs for Hochschild Mining that you should be aware of.

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.

DENVER, CO / ACCESSWIRE / April 7, 2021 /Solitario Zinc Corp. ("Solitario") (NYSE American:XPL) (TSX:SLR) is pleased to announce that it has filed on SEDAR the independent NI 43-101 Technical Report (the "Report") detailing the updated Mineral Resource Estimate for the Florida Canyon Project located in northern Peru, as described in the Company's news release dated February 23, 2021. The Report was prepared by Gustavson Associates LLC ("Gustavson"), an independent international engineering firm specializing in mining and mineral exploration engineering and evaluation. The Report is available on SEDAR under the Company's profile, and on the Company's website at: Florida Canyon NI 43-101 Technical Report.

The Report filed today incorporates technical information from 39 new drill holes completed at Florida Canyon in 2018 and 2019, along with information from 506 previously drilled core holes. The Report shows a substantial increase in inferred resources dominated by zinc sulfide mineralization. Highlights include the following:

• Inferred zinc-equivalent ("Zn-Eq") sulfide resource up 105% from 2017 estimate.

• Inferred Zn-Eq sulfide-mixed-oxide resource estimate up 64% from 2017 estimate.

• Total contained metal – Measured and Indicated: 0.65 billion pounds Zn-Eq.

• Total contained metal – Inferred: 3.39 billion pounds Zn-Eq at 10.9% Zn-Eq.

• Total contained silver – Inferred: 5.39 million oz.; Meas. & Ind: 1.2 million oz.

Solitario's joint venture partner, Nexa Resources S.A. (NYSE:NEXA; TSX:NEXA) ("Nexa"), completed the new resource estimate incorporating the results of the 2018/2019 drilling program and reinterpreting portions of the previous resource model. Solitario, through the work of Gustavson, verified Nexa's resource estimate. Nexa is the world's fourth largest zinc miner and operates three underground zinc mines in Peru, a major zinc smelter also in Peru and two zinc mines and two zinc smelters in Brazil.

The 2021 Mineral Resource Estimate is a mine plan constrained resource that takes into consideration various NSR cutoff grades and planned dilution, depending on mining method. All 2021 additions to the resource were in the Inferred Resource Category. The table below provides summary estimates for all resource categories.

2021 Florida Canyon Mineral Resource Estimate

Notes to Mineral Resource Table:

1. CIM (2014) definitions were followed for Mineral Resources.
2. Mineral Resources have an effective date as of February 2, 2021.
3. Mineral Resources are reported using mining cut off values of US$41.40/t NSR for Sub-Level Stoping, US$42.93/t for Cut and Fill and US$40.61/t for Room and Pillar mining methods.
4. Forecast long term metal prices used for the NSR and Zn-Eq calculations are: Zn: US$2,816/t (US$1.27/lb); Pb: US$ 2,249/t (US$1.02/lb) and Ag: US$19.40/oz. Zn-Eq calculations do not take into account metallurgical recoveries.
5. Minimum mining thickness is 3 meters for Sub-Level Stoping and Cut and Fill, and 4 meters for Room and Pillar mining methods.
6. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
7. Project Resources are reported on a 100% ownership basis.
8. Numbers may not add due to rounding.

Inferred Sulfide Resource Doubles

The 2018/2019 drilling program was specifically designed to identify new NI 43-101 compliant sulfide resources at Florida Canyon. This objective was achieved with an overall 105% gain in Inferred Zn-Eq contained metal in sulfide resources compared to the 2017 Inferred Zn-Eq sulfide resource estimate. Approximately 78% of the Zn-Eq resources are sulfide-dominate in the overall 2021 resource estimate.

Sulfide Mineralization is Important

The 2017 Preliminary Economic Assessment ("PEA" see SEDAR Filing dated August 8, 2017) demonstrated that mining and processing of Florida Canyon sulfide resources are much more profitable than for oxide and mixed resources. Cash flow estimates in the PEA for its 12.5-year mine life, based on the 2017 resource, illustrated that years 2-7 (mostly sulfide ore) generated approximately $75 million in annual free cash flow, while years 8-12 (mostly oxide+mixed ore) averaged approximately $30 million in annual free cash flow.

In addition to an increased mine life and cash flow, the current, larger resource will also provide the opportunity to assess increasing the production rate from the 2,500 tonnes per day assumed in the PEA, further improving project profitability.

Recommendations

The Report contains several important recommendations for advancing the Florida Canyon Project. One of the more impacting recommendations, is to conduct new metallurgical testing on sulfide-dominant ores. The updated resource model demonstrates that the majority of mineralization at Florida Canyon is sulfide dominant, however, previously conducted metallurgy did not assess sulfide-only ore. The Report suggests that metallurgical zinc recoveries and zinc concentrate grades were underestimated in the 2017 Preliminary Economic Analysis. Higher zinc recoveries and concentrate grade, along with a larger resource base would substantially benefit project economics.

Another important recommendation includes additional surface and underground exploration. Included in this is 1,250 meters of underground tunnel development in two different zones, 15,000 meters of underground drilling and 10,000 meters of surface drilling. The objective of these programs is to increase the confidence level of a portion of the inferred resource to measured and indicated categories.

Signed by Qualified Persons:

The technical information contained in the Report has been verified and approved by the following Gustavson Qualified Persons pursuant to the meaning of such terms in National Instrument 43-101 Standards of Disclosure for Mineral Projects.

Mr. Donald Hulse, P.E., SME-RM (Mining, Resources)
Deepak Malhotra, PhD., SME-RM (Metallurgy)
Mr. Simon Mortimer, MSc., MAIG (Geology)

Information contained within this release is reported under Nexa's quality control program reviewed by Mr. Walt Hunt, COO for Solitario Zinc Corp., who is a qualified person as defined by National Instrument 43-101.

Terms of the Florida Canyon Joint Venture

Solitario owns a 39% interest and Nexa owns a 61% indirect interest in the Florida Canyon project. Nexa can earn a 70% interest in the Florida Canyon project by continuing to fund all project expenditures and committing to place the project into production based upon a positive feasibility study. After earning 70%, and at the request of Solitario, Nexa has further agreed to finance Solitario's 30% participating interest for construction through a project loan. Solitario will repay the loan facility through 50% of its net cash flow distributions from production.

About Solitario

Solitario is an emerging zinc exploration and development company traded on the NYSE American ("XPL") and on the Toronto Stock Exchange ("SLR"). Solitario holds a 50% joint venture interest in the high-grade, open-pittable Lik zinc deposit in Alaska and a 39% joint venture interest (Nexa Resources holds the remaining 61% interest) in the high-grade Florida Canyon zinc project in Peru. Solitario's Management and Directors hold approximately 9.6% (excluding options) of the Company's 58.4 million shares outstanding. Solitario's cash balance and marketable securities stand at approximately US$7.7 million. Additional information about Solitario is available online at www.solitariozinc.com

FOR MORE INFORMATION ABOUT SOLITARIO, CONTACT:

Valerie Kimball
Director – Investor Relations
(720) 933-1150
(800) 229-6827

Christopher E. Herald
President & CEO
(303) 534-1030, Ext. 14

Cautionary Statement Regarding Forward Looking Information

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933 and the U.S. Securities Exchange Act of 1934, and as defined in the United States Private Securities Litigation Reform Act of 1995 (and the equivalent under Canadian securities laws),that are intended to be covered by the safe harbor created by such sections. Forward-looking statements are statements that are not historical fact. They are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and address activities, events or developments that Solitario expects or anticipates will or may occur in the future, and are based on current expectations and assumptions. Forward-looking statements involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Such forward-looking statements include, without limitation, statements regarding the Company's expectation of the projected timing and outcome of engineering studies; expectations regarding the receipt of all necessary permits and approvals to implement a mining plan, if any, at Lik or Florida Canyon; the potential for confirming, upgrading and expanding zinc, lead and silver mineralized material; future operating and capital cost estimates may indicate that the stated resources may not be economic; estimates of zinc, lead and silver grades of resources provided are predicted and actual mining grade could be substantially lower; estimates of recovery rates for could be lower than estimated for establishing the cutoff grade; and other statements that are not historical facts could vary significantly from assumptions made in the Resources Estimate. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. Although Solitario management believes that its expectations are based on reasonable assumptions, it can give no assurance that these expectations will prove correct. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, among others, risks relating to risks that Solitario's and its joint venture partners' exploration and property advancement efforts will not be successful; risks relating to fluctuations in the price of zinc, lead and silver; the inherently hazardous nature of mining-related activities; uncertainties concerning reserve and resource estimates; availability of outside contractors, and other activities; uncertainties relating to obtaining approvals and permits from governmental regulatory authorities; the possibility that environmental laws and regulations will change over time and become even more restrictive; and availability and timing of capital for financing the Company's exploration and development activities, including uncertainty of being able to raise capital on favorable terms or at all; as well as those factors discussed in Solitario's filings with the U.S. Securities and Exchange Commission (the "SEC") including Solitario's latest Annual Report on Form 10-K and its other SEC filings (and Canadian filings) including, without limitation, its latest Quarterly Report on Form 10-Q. The Company does not intend to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws.

Cautionary Note to U.S. Investors concerning Estimates of Measured, Indicated and Inferred Resources

This news release has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of United States securities laws. Canadian reporting requirements for disclosure of mineral properties are governed by the Canadian Securities Administrators' National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). For this reason, information contained in this news release containing descriptions of the Company's mineral deposits may not be comparable to similar information made public by United States companies subject to the reporting and disclosure requirements under the United States federal securities laws and the rules and regulations thereunder.

SOURCE: Solitario Zinc Corp.

View source version on accesswire.com:
https://www.accesswire.com/639313/Solitario-Files-New-NI-43-101-Technical-Report-for-Its-Florida-Canyon-Zinc-Project-Detailing-a-Significant-Increase-in-Mineral-Resources

It's only natural that many investors, especially those who are new to the game, prefer to buy shares in 'sexy' stocks with a good story, even if those businesses lose money. Unfortunately, high risk investments often have little probability of ever paying off, and many investors pay a price to learn their lesson.

So if you're like me, you might be more interested in profitable, growing companies, like Zimplats Holdings (ASX:ZIM). While that doesn't make the shares worth buying at any price, you can't deny that successful capitalism requires profit, eventually. In comparison, loss making companies act like a sponge for capital – but unlike such a sponge they do not always produce something when squeezed.

See our latest analysis for Zimplats Holdings

Zimplats Holdings's Improving Profits

In the last three years Zimplats Holdings's earnings per share took off like a rocket; fast, and from a low base. So the actual rate of growth doesn't tell us much. As a result, I'll zoom in on growth over the last year, instead. Like a firecracker arcing through the night sky, Zimplats Holdings's EPS shot from US$1.36 to US$4.01, over the last year. Year on year growth of 195% is certainly a sight to behold. That could be a sign that the business has reached a true inflection point.

Careful consideration of revenue growth and earnings before interest and taxation (EBIT) margins can help inform a view on the sustainability of the recent profit growth. Zimplats Holdings shareholders can take confidence from the fact that EBIT margins are up from 35% to 53%, and revenue is growing. Ticking those two boxes is a good sign of growth, in my book.

You can take a look at the company's revenue and earnings growth trend, in the chart below. Click on the chart to see the exact numbers.

While profitability drives the upside, prudent investors always check the balance sheet, too.

Are Zimplats Holdings Insiders Aligned With All Shareholders?

It makes me feel more secure owning shares in a company if insiders also own shares, thusly more closely aligning our interests. As a result, I'm encouraged by the fact that insiders own Zimplats Holdings shares worth a considerable sum. To be specific, they have US$17m worth of shares. That's a lot of money, and no small incentive to work hard. Even though that's only about 0.6% of the company, it's enough money to indicate alignment between the leaders of the business and ordinary shareholders.

Is Zimplats Holdings Worth Keeping An Eye On?

Zimplats Holdings's earnings have taken off like any random crypto-currency did, back in 2017. That EPS growth certainly has my attention, and the large insider ownership only serves to further stoke my interest. The hope is, of course, that the strong growth marks a fundamental improvement in the business economics. So yes, on this short analysis I do think it's worth considering Zimplats Holdings for a spot on your watchlist. We should say that we've discovered 2 warning signs for Zimplats Holdings that you should be aware of before investing here.

You can invest in any company you want. But if you prefer to focus on stocks that have demonstrated insider buying, here is a list of companies with insider buying in the last three months.

Please note the insider transactions discussed in this article refer to reportable transactions in the relevant jurisdiction.

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 7, 2021) – Orestone Mining Corp. (TSXV: ORS) (FSE: O2R1) is pleased to announce that all contractors have been selected and retained to carry out the 2021 Phase I drill program at the Captain project. Equipment mobilization is underway with drilling estimated to start on or about April 10, 2021. The exploration model at Captain is a large scale potassic-sericite altered calc-alkaline gold-copper porphyry target.

The drill program will consist of 1,000 to 2,000 meters of core drilling in 2 – 3 holes and is budgeted at $300,000 to $600,000 designed to follow up and test for porphyry mineralization intersected in holes C13-03 and C19-03. Hole C13-03 intersected a 3 meter sulphide rich mineralized xenolith which assayed 1.9 g/t gold, 11 g/t silver and 0.23 % copper within an otherwise unaltered and barren post mineral dyke. Hole C19-03, located 250m south of C13-03 intersected visually identical porphyry at 271m with the bottom 24m of the hole (271m – 295m) grading 0.27 g/t gold, 3.26 g/t silver and 0.09 % copper. The hole ended in 0.49 g/t gold, 3.0 g/t silver and 0.11 % copper at 295m and remains open to depth.

The porphyry system is associated with a distinctive magnetic low measuring 600m x 1300m surrounded by a crescent shaped magnetic high associated with propylitically altered diorite/monzonite (see website for maps). Induced Polarization ("IP") geophysical data from the western portion of the target are consistent with the model of a sulphide rich porphyry body beneath a 30 to 100m layer of glacial till and a 100-150m thick phyllic altered cap.

Logistics for the drill program are excellent as all of the drill locations are on existing roads with easy access one hours drive north of Fort St. James in north central BC. The Captain Project features relatively flat terrain, moderate tree cover and an extensive network of logging and Forest Service roads suitable for exploration year around. All permits are in place for 24 drill locations.

"The focus of this drill program is an exciting calc-alkaline porphyry target. This type of deposit can be quite large, gold rich and in some cases with a higher-grade core such as the Red Chris Deposit in BC and the Cadia-Ridgeway Deposits in New South Wales, Australia. We are very encouraged by the exploration results to date, in which visually identical potassic-sericite altered porphyry intersected in holes 250 meters apart graded up to 1.9 g/t gold. In terms of size, the outer phyllic alteration halo has been intersected in drilling over an area of 1.5 by 2 kilometers indicating the presence of a large hydrothermal fluid rich system. Drilling will be underway shortly," stated David Hottman, CEO and Director of Orestone Mining Corp.

Gary Nordin, P.Geo, a director of the Company, is a qualified person as defined by National Instrument 43-101. Mr. Nordin has reviewed and approved the technical information in this press release.

The 100 percent owned Captain gold-copper project encompasses 37 square kilometers and hosts a large porphyry system located 41 kilometers north of Fort St. James and 30 kilometers south of the Mt. Milligan copper-gold mine in north central British Columbia. The Captain Project features relatively flat terrain, moderate tree cover and an extensive network of logging and Forest Service roads suitable for exploration year around. To stay informed of the latest corporate activities please click here to provide consent and receive news and updates. For more information, please visit Orestone's website at www.orestone.ca.

ON BEHALF OF ORESTONE MINING CORP.

David Hottman

CEO

For further information please contact:
Tel: 604-629-1929
Fax: 604-629-1930
Email: info@orestone.ca
Website: www.orestone.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this News Release. This news release has been prepared by management and no regulatory authority has approved or disapproved the information contained herein.

Forward-Looking Statements

This news release contains certain 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. Readers 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 including, but not limited to, market conditions, availability of financing, currency rate fluctuations, actual results of exploration and development activities, environmental risks, future prices of copper, gold, silver and other metals, operating risks, accidents, labor issues, delays in obtaining governmental or regulatory approvals and permits, and other risks in the mining industry. In addition, there is uncertainty about the spread of the COVID-19 virus and the impact it will have on the Company's operations, global supply chains and economic activity in general. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/79669

SLAM Exploration Acquiring More Properties In Emerging Gold District

MIRAMICHI, New Brunswick, April 07, 2021 (GLOBE NEWSWIRE) — SLAM Exploration Ltd. (“SLAM” or the “Company” on TSXV: SXL) is pleased to report the acquisition of 2 new mineral claims through a Purchase Agreement with a prospector. The claims cover till anomalies ranging up to 580 parts per billion (“ppb”) gold and are adjacent to the Triple Fault claims owned by Puma Exploration Inc.(“Puma”) and is located 100 km west of Bathurst New Brunswick. Puma reports that “previous holes intersected 11.2 g/t over 2.8m, 8.02 g/t Au over 1.0m, 1.0 g/t over 23.0m, 3.46 g/t Au over 2.0m” and the presence of “many gold occurrences up to 109.0 g/t, 50.8 g/t Au, 28 g/t Au, 17 g/t Au” on its Triple Fault claims.

The Company bought 100% interest in two mineral claims in return for 70,000 shares. The Vendor retains a 2% NSR royalty. SLAM holds the right to buy back 1% NSR for $1,000,000 and holds right of first refusal on the remaining 1% NSR. The NSR does not apply to additional claims staked by the Company adjacent to the Purchase Agreement claims.

The Williams Brook East Gold Property: One claim comprising 7 units was acquired in the Purchase Agreement. SLAM acquired an adjacent claim comprising 35 units by E-staking (on the NB-Eclaims portal). The combined claims cover 912 hectares of prospective ground with till anomalies ranging up to 580 ppb. Two regional faults cutting through the property confirm this to be part of the Triple Fault area.

The Jonpol East Gold Property: One claim comprising 5 units was acquired in the Purchase Agreement. SLAM acquired an adjacent claim comprising 45 units by E-staking. The combined claims cover 1,086 hectares of prospective ground with till anomalies ranging up to 28 ppb and located 1,000 m east of the Simpson Field gold occurrence.

The Ramsay Gold Property: SLAM staked an additional 3 claims adjacent to its previously staked Ramsay mineral claim. The Ramsay property now comprises 100 units in 4 claims covering 2392 hectares of prospective ground with a number of till anomalies ranging up to 34 ppb gold. The Ramsay property is transected by the Greys Gulch, McCormack Brook, McIntyre Brook, Ramsay Brook and Simpson Brook faults and is adjacent to the Ramsay copper-cobalt occurrence which has been described as an IOCG (Iron Oxide Copper Gold) type of occurrence.

All three properties are located just south of the Rocky Brook-Millstream Break (“Millstream Break”) adjacent to the Triple Fault properties owned by Puma. The Millstream Break is a major Appalachian structure associated with significant gold discoveries in New Brunswick including the Williams Brook gold discovery owned by Puma Resources Inc. and the Elmtree gold deposit owned by Canadian GoldCamps Corp. as well as SLAM’s Wilson Brook gold property located 60 km to the southwest.

SLAM’s Flagship Menneval Gold Project: SLAM’s 2020 exploration program resulted in discovery of numerous new gold-bearing veins including No 18 where the Company reported 12 sites of visible gold and assay results grading 1.22 to 3,955 g/t gold over widths ranging from 0.04 to 0.12 m thick. A soil geochemical survey comprising 897 samples detected gold levels ranging up to 683 ppb gold and anomalous gold trends up to 1,800 m long. These gold anomalies are located close to and along strike from known gold veins and are largely untested. More information is available on SLAM’s new website www.slamexploration.com.

The new gold vein discoveries and associated soil anomalies suggest potential for sizeable and economically viable gold deposits in an area with excellent access and infrastructure. They are hosted with a sequence of sedimentary and intrusive rocks that occupy an antiformal structure in the footwall of the Restigouche fault. The Restigouche fault is part of a major Appalachian suture that extends from the Haile gold mine operated by OceanaGold in South Carolina through Marathon’s Valentine Lake gold deposit in Newfoundland to Dalradian’s Curraginalt gold deposit in Ireland.

The Menneval gold project comprises 572 mineral claim units in 8 mineral claims covering 12,450 hectares The Company holds a 100% interest in the claims with the exception of 4 claim units covering 105 hectares that are subject to a 1.5% NSR. The Company can buy down 0.5% of the NSR for $500,000 and it has the right of first refusal on the remaining 1% NSR.

The Company intends to focus its 2021 exploration strategy on the Menneval gold project. The first priority of the 2021 exploration program is to test significant gold trends in soils as reported by the news release dated January 19, 2021 and potential extensions of gold veins discovered in 2020.

Website: SLAM Exploration Ltd recently launched a completely updated and renovated website at the following address: www.slamexploration.com

About SLAM Exploration Ltd:

SLAM is a project-generating resource company with a 68,000 hectare portfolio of wholly-owned gold, silver, base metal and REE properties in New Brunswick. The primary corporate focus is on our flagship Menneval gold project in northern New Brunswick and this will continue to be the focus for 2021. The Company owns the Birch Lake gold-silver project and the Lewis Brook silver project in central New Brunswick. The Company is actively involved in the evolving southern New Brunswick gold play where Galway Gold Inc. continues to report successful gold drilling results at Clarence Stream. These properties are available for purchase or joint venture and companies looking for potential property acquisitions should contact Mike Taylor by email mike@slamexploration.com or phone 506-623-8960.

The Company owns the Uniacke gold project comprising 2 claims held under an option agreement and one claim staked by the Company and located in Nova Scotia. SLAM owns the Reserve Creek, Opikeigen and Miminiska gold projects in Ontario that are also available for purchase.

The Company also owns a 13,000 hectare portfolio of base metal properties in the Bathurst Mining Camp (“BMC”) of New Brunswick that is subject to an option Agreement that gives Major Precious Metals Corp (SIZE) the right to earn 100% interest. Major Precious completed the prescribed 2^nd anniversary payment of 1 million shares on February 22, 2021. SLAM retains a 2% Net Smelter Return royalty on the BMC claims.

SLAM also holds NSR royalties on the Superjack, Nash Creek and Coulee zinc‐lead‐copper‐silver properties in New Brunswick. Additional information about SLAM and its projects is available at www.slamexploration.com or from SEDAR filings at www.sedar.com. Follow us on twitter @SLAMGold.

Qualifying Statements: Mike Taylor P.Geo, President and CEO of SLAM Exploration Ltd., a qualified person as defined by National Instrument 43-101, approves the technical information contained in this news release. The assay numbers for soils rock and drill core noted above are derived from government files as well as data published by other companies and considered to be reliable.

Certain information in this press release may constitute forward-looking information, including statements that address the Private Placement, the closing of the Private Placement, future production, reserve potential, exploration and development activities and events or developments that the Company expects. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company. There are a number of risk factors that could cause future results to differ materially from those described herein. Information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedar.com. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

CONTACT INFORMATION:
Mike Taylor, President & CEO
Contact: 506-623-8960 mike@slamexploration.com

Eugene Beukman, CFO
Contact: 604-687-2038 ebeukman@pendergroup.ca

SEDAR: 00012459E

THIS NEWS RLEASE IS NOT FOR DISTRIBUTION IN
THE UNITED STATES OR TO U.S. NEWS AGENCIES

VANCOUVER, British Columbia, April 06, 2021 (GLOBE NEWSWIRE) — Planet Ventures Inc. (TSX-V: PXI; FSE: P6U) (“Planet” or the “Company”) is pleased to announce that it’s UK-based gaming entertainment company, 1^st11, has secured Brazilian international and Juventus soccer star Arthur Melo as its Global Ambassador.

1st11 delivers interactive gaming experiences working in collaboration with leading talent from the world of gaming, pro sports and esports. Facilitated by advanced proprietary mobile technology, fans can join in the action and play alongside their heroes in specially created formats across a wide range of the world’s most popular gaming titles.

1st11’s mission is to make competitive gaming more fun, inclusive, entertaining and scalable. Via a simple to use consumer app, casual gamers and esports enthusiasts alike will be able to seamlessly jump into a range of fun and exclusive formats designed in collaboration with world class talent. In doing so, fans can earn rewards and XP not just for winning but also for playing, sharing and engaging. A comprehensive rewards system enables users to redeem limited edition digital products, merchandise and exclusive one-of-a-kind experiences.

Arthur Melo comments: “I love 1st11’s vision. Its unique approach to enhancing the fan experience by bringing together gaming creators and sports stars into interactive formats is cool and unique. It brings gaming entertainment to the next level, allowing the real and the virtual worlds to collide in new and often unexpected ways.”

Leading the company’s brand positioning and design is Alexandre Gama, founder of Inovnation and former Global Chief Creative Officer of BBH. 1st11’s platform, unique in its inclusive ‘Fun Comes 1st’ approach, consists of three key components.

First is a consumer facing app, which is a fan’s passport to access exclusive experiences, challenges, benefits and rewards.

Second is a proprietary talent management platform, ‘1st11 Creators’. The talent facing app provides tools to creators and enables 1st11 to design gaming challenges collaborating with over 500 athletes at launch. ‘1st11 Creators’ also provides brand and rights holders with advanced analytics, reporting and full-service gaming solutions.

Third is a mobile optimised mobile web destination, 1st11fun.com which editorialises, supports and promotes exclusive content and challenges available within the app.

As part of the company’s continuing growth strategy, 1st11 has made a strategic investment into Latin America’s leading gaming entertainment business Final Level. Latin America is the fastest growing gaming market behind China & the USA and this investment provides a solid partnership delivering access to the most prolific creators and esports teams in the region.

The gaming industry has exploded with over 2.7 billion globally are now gamers. According to Forbes, the value of the video game industry will reach over $300 billion by 2025.

Christopher Glancy, 1st11’s Head of Product explains: “As growth in the gaming and esports sectors has become a global phenomenon, it is attracting superstar athletes with a passion for sharing experiences with an engaged audience of millions. Signing a culturally relevant icon such as Arthur Melo who has over 5 million followers on Instagram is very exciting. I look forward to working closely with him and the wider team to deliver a world class product for fans.”

Coming soon via the Apple App Store and Google Play, 1st11 will also launch a custom-built talent management platform 1st11 Creators. This will make it easy for 1st11 talent and rights holders to support proprietary formats. The platform centrally coordinates and assists influencer management while 1st11’s tech stack fully supports brands and rights holder partners to deliver scalable gaming experiences.

Flavio Maria, 1st11 COO adds: “The world of gaming presents diverse and largely untapped opportunities for brands and rights holders to engage with consumers. There are already over 500 professional athletes signed to 1st11’s Creator Network, with Arthur Melo joining our line-up of star-studded talent as the first in a series of global ambassadors. We look forward to welcoming brands and partners seeking an easier way to engage in scalable gaming activations”.

About Planet Ventures Inc.

Planet Ventures Inc. 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. Planet’s unique portfolio driven investment policies provide investors with access to emerging and high-growth opportunities while shielding them from any formidable downside.

For more information, please visit: https://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

CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION

This news release includes certain statements that may be deemed "forward-looking statements". All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. These statements include, but are not limited to, the expectation that Spin-Out Transaction may be effected. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates, opinions, or other factors, should change.

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

Vancouver, British Columbia–(Newsfile Corp. – April 6, 2021) – INCA ONE GOLD CORP. (TSXV: IO) (OTC Pink: INCAF) (FSE: SU92) ("Inca One" or the "Company") a gold producer operating two, fully permitted, mineral processing facilities in Peru, announces the change of its symbol from IO to INCA.

The common shares of the Company will begin trading under the new symbol "INCA" on the TSX Venture Exchange at market open on April 9, 2021. The CUSIP (45328X305) will remain the same.

About Inca One

Inca One Gold Corp is a TSXV listed, gold producer operating two, fully permitted, gold mineral processing facilities in Peru. The Company has produced in excess of 92,000 ounces of gold, generating over US$125 million in revenue from its first 6 years of operations. Inca One, is led by an experienced and capable management team that has established the Company as a trusted leader in servicing government permitted, small-scale miners in Peru. Peru is the world's seventh-largest producer of gold and its small-scale mining sector is estimated by government officials to be valued in the billions of dollars annually. Inca One possesses a combined 450 tonnes per day permitted operating capacity at its two fully integrated plants, Chala One and Kori One. To learn more visit www.incaone.com.

Figure 1. Inca One's gold processing facilities in Peru (left: Chala One facility; right: Kori One facility)

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2645/79639_bdd8593fe4915893_001full.jpg

On behalf of the Board,

Edward Kelly
President and CEO
Inca One Gold Corp.

For More Information Contact:

Konstantine Tsakumis
Inca One Gold Corp.
ktsakumis@incaone.com
604-568-4877

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

Statements regarding the Company which are not historical facts are "forward-looking statements" that involve risks and uncertainties. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements due to factors such as: (i) fluctuation of mineral prices; (ii) a change in market conditions; and (iii) the fact that future operational results may not be accurately predicted based on this limited information to date. Except as required by law, the Company does not intend to update any changes to such statements. Inca One believes the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included herein should not be unduly relied upon.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/79639

Montreal Quebec, April 06, 2021 (GLOBE NEWSWIRE) — Montreal, Quebec April 6, 2021 – SRG Mining Inc. (TSXV: SRG) (“SRG” or the “Company”) announced today that further to its press release dated January 26, 2021 announcing a private placement in the form of a convertible debt financing for USD$7.5M (approximately CAD$9.53M) (the “Financing”) with Sprott Private Resource Lending II (Collector), LP (“Sprott”), and the announcement of March 26, 2021 announcing the closing of the first tranche of the Financing for USD$800,000 which matured on April 2, 2021 (the “First Tranche”), the Company would like to provide a general update to the market.

Considering the Company’s current working capital needs, market conditions and SRG’s bid on the assets of North American Lithium Inc. (“NAL”), Sprott has agreed to refinance the First Tranche and replace it with a new secured credit agreement for USD$1.6M (the “USD$1.6M Note”) which was funded on the date hereof and represents a fresh cash injection of USD$800,000, as the balance will be used to refinance and replace the previously announced convertible financing under the First Tranche.

The USD$1.6M Note, includes a refinancing and a replacement of the previously announced USD$800,000 First Tranche, as well as a fresh cash injection on the same terms which are for the totality of the amount; (i) an interest rate of 8% per annum, (ii) a term expiring on July 31, 2023, (iii) is convertible into common shares of the Company, at the discretion of Sprott, at a conversion price equal to C$0.69 per share and (iv) includes the issuance of warrants as described herein.

Concurrently, the Company has issued transferable common share purchase warrants to Sprott exercisable for up to 2,913,623 common shares of the Company at C$0.69 per share until July 31, 2023. The above noted securities are subject to a four-month hold period.‎

As for the Financing announced on January 26, 2021, the parties continue to finalize the terms and conditions of the Financing, including the conversion price. The Financing and the USD1.6M Note (as it concerns the refinancing of the First Tranche and the new cash injection) remain subject to applicable rules and approvals of the TSX Venture Exchange (the “TSXV”).

About SRG Mining

SRG Mining is a Canadian-based mining company focused on developing the Lola graphite deposit located in the Republic of Guinea, West Africa. SRG is committed to operating in a socially, environmentally, and ethically responsible manner.

For additional information, please visit SRG’s website at www.srgmining.com.

Contact :

Benoit La Salle, FCPA FCA

Email: benoit.lasalle@srgmining.com

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

Forward-Looking Statements

This press release contains "forward-looking information" within the meaning of Canadian securities legislation. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as “firm”, “anticipated”, “potential”, “will”, “continue”, “demonstrate”, “deliver”, “believe”, or variations of such words and phrases or state that certain actions, events or results "may", "could", "would" or "might". 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 the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: (i) volatile stock price; (ii) the general global markets and economic conditions; (iii) the possibility of write-downs and impairments; (iv) the risk associated with exploration, development and operations of mineral deposits and mine plans for the Company’s mining operations; (v) the risk associated with establishing title to mineral properties and assets including permitting, development, operations and production from the Company’s operations being consistent with expectations and projections; (vi) fluctuations in commodity prices, finding offtake takers and potential clients or enforcing such agreements against same and other risks and factors described or referred to in the section entitled "Risk Factors" in the MD&A of the Company and which is available at www.sedar.com, all of which should be reviewed in conjunction with the information found in this news release.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the 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 forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company's business, operations and exploration plans and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is given as of the date of this press release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.

CONTACT: Kathleen Jones-Bartels SRG Mining 16043417474 Kathleen.bartels@srgmining.com

VANCOUVER, BC / ACCESSWIRE / April 6, 2021 / GGL Resources Corp. (TSXV:GGL) ("GGL" or the "Company") is pleased to announce the results of underground sampling conducted in early December at its past-producing Gold Point mesothermal gold/silver project, located in the Walker Lane Trend, southwestern Nevada.

The sampling was completed on the 100 through 500 levels at the Great Western Mine, one of the two main former producers on the Gold Point property.

Highlights from underground sampling include:

• 23.0 g/t gold and 76 g/t silver over 1.30 m from the 500' Level;

• 7.48 g/t gold and 64.3 g/t silver over 1.58 m from the 200' Level;

• 6.87 g/t gold and 40.4 g/t silver over 1.63 m from the 500' Level;

• 6.65 g/t gold and 29.5 g/t silver over 1.94 m from the 500' Level;

• 5.99 g/t gold and 73.3 g/t silver over 1.75 m from the 500' Level; and,

• 3.57 g/t gold and 367 g/tsilver over 1.00 m from the 300' Level.

Thirty of the 167 chip samples collected returned greater than 3 g/t gold equivalent, with 89 yielding greater than 1 g/t gold equivalent. The main drifts follow what appears to be a post- or syn-mineralization fault. Other parallel drifts on the 200' and 500' Levels follow a vein in the hanging wall of the main fault. Historical production was primarily focused on mineralized shoots within the main fault, above the 300' Level. There is no historical production record from the 500' Level or lower.

The following table lists chip samples grading greater than 3 g/t gold equivalent collected from the Great Western Mine.

*Gold Equivalent was calculated using a 70:1 silver to gold ratio based on current metal prices and assume 100% recovery of both metals.

Program Update:

Drilling
A reverse-circulation (RC) drill program is currently underway at the Gold Point property. A total of 2,085 metres of drilling in ten holes have been completed. The drilling is testing near to and along strike of known mineralization at the Great Western Mine. The current drill program is anticipated to include 3,000 m of drilling in up to 18 holes.

Tailings
In October 2020, twenty-five representative samples were collected from the main past production tailings storage area and, another six samples collected from a smaller secondary area. Samples collected from the main tailings storage area returned 0.286 g/t gold to 3.62 g/t gold (averaging 1.04 g/t gold), with samples collected from the secondary storage area ranging from 1.645 g/t gold to 27.4 g/t gold (averaging 2.62 g/t gold excluding the highest grade sample).

Systematic hand-auger sampling of both tailings storage facilities has now been completed. A total of 82 samples were collected on a 20 metre grid. Auger samples taken from the main storage area, which covers an approximate area of 13,000 m², had depths ranging from 0.23 m to 4.57 m, and averaged 1.78 m. In the older storage area, which covers an approximate area of 11,000 m², depths ranged from 0.18 m to 1.2 m, and averaged 0.55 m.

Soil Sampling
Grid soil sampling was recently completed across the eastern portion of the property where alluvium covers the inferred extension of the structural corridor hosting the gold-silver bearing veins of the main workings. A total of 529 soil samples were collected every 25 m along lines spaced 100 m apart. This geochemical survey is primarily targeting the more mobile pathfinder elements.

Next Steps
Current program samples are being delivered to the analytical laboratory on an ongoing basis. Results will be announced upon receipt and QA/QC verification.

Once all results of the current drilling and sampling program are received, they will be used to design and permit a more aggressive surface drill program. Necessary repairs, safety modifications, and permitting to the Great Western Mine will continue in order for underground exploration, including long hole drilling, to be performed. Preparations and discussions with the relevant authorities are underway to repair the shafts of the Orleans Mine so that those workings can also be accessed, sampled and mapped.

About the Great Western Mine
The Great Western was located in 1905 and first mined in 1907. A mill was built next to the main shaft in 1913, and the mine continued to operate intermittently until the mid-1930s. Ohio Mining Company bought the mine in 1935 to gain access to the mill to process ore from their nearby Orleans Mine, the other former producing mine on the Gold Point property. Following the sale, no large-scale production is known to have occurred at the Great Western Mine. The mines at Gold Point were leased to U.S. Milling and Minerals Co. ("USM&M") between 1958 and 1962, which focused primarily on the adjacent Orleans Mine. Their plan was to connect the Orleans and Great Western mines at the 1,000' level. Although they did not complete this plan, they did perform significant rehabilitation on the Great Western Mine in preparation. All of USM&M's operations abruptly ceased in 1962 due to corporate issues related to another nearby mine. The last known rehabilitation and exploration work on the Great Western Mine occurred in the mid 1980's and was conducted by Fisher-Watt Mining Co. Inc. and their successor.

About Gold Point
The Gold Point project is accessible via highway 774 and serviced by electricity. It hosts a camp-scale precious metal system that consists of numerous gold and silver rich quartz veins. These high-grade veins are typically 1 to 2 m in width and locally up to 7 m wide. Two veins (Orleans and Great Western) were intermittently mined from the 1880s through to the early 1960s. Existing underground workings are mostly open and are dry to approximately 275 m below surface on the Orleans Vein (1020 ft level) and 240 m on the Great Western Vein, (960 ft level). Historical records indicate that the mines had high cut-off grades (about 10 g/t gold), suggesting that well mineralized areas likely remain in un-mined portions of the developed workings. This assumption is further supported by a report that describes 35 historical samples collected post-mining across the Orleans Vein from the 960 ft to 1020 ft levels, which averaged 0.389 opt (13.3 g/t) gold including a vein on the 1000 ft level that returned 7.97 opt (273.2 g/t) gold over 0.5 m. Additionally, 21 samples from the 600 ft to 1020 ft levels reportedly averaged 0.314 opt (10.77 g/t) gold. Historical records indicate that approximately 74,000 ounces were produced from the Orleans and Great Western Mines, with recoveries of 92% to 98% for gold through cyanidation.

All analyses were performed by ALS Minerals in Reno, Nevada. All samples were routinely analyzed for gold by a 50 g fire assay followed by atomic absorption (Au-AA26) and 48 elements by inductively coupled plasma-mass spectrometry (ME-MS61).

Technical information in this news release has been reviewed and approved by Matthew R. Dumala, P.Eng., a geological engineer with Archer, Cathro & Associates (1981) Limited and a qualified person for the purposes of National Instrument 43-101.

About GGL Resources Corp.
GGL is a seasoned, Canadian-based junior exploration company, focused on the exploration and advancement of under evaluated mineral assets in politically stable, mining friendly jurisdictions. The Company has recently acquired an option on the Gold Point project in the prolific Walker Lane Trend, Nevada, which consolidated several gold-silver veins, two of which were past producing high-grade mines. The Company also holds the McConnell gold-copper project located 22 kilometers southeast of the Kemess Mine in north-central BC, and promising diamond exploration projects in Nunavut and the Lac de Gras diamond district of the Northwest Territories. Lac de Gras is home to Canada's first two diamond mines, the world class Diavik and Ekati mines discovered in the 1990s. GGL also holds diamond royalties on mineral leases in close proximity to the Gahcho Kué diamond mine in the Northwest Territories.

ON BEHALF OF THE BOARD
"David Kelsch"
David Kelsch
President, COO and Director

For further information concerning GGL Resources Corp. or its various exploration projects please visit our website or contact:

Investor Inquiries
Richard Drechsler
Corporate Communications
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
rdrechsler@strategicmetalsltd.com

Corporate Information
Linda Knight
Corporate Secretary
Tel: (604) 688-0546
info@gglresourcescorp.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.

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

SOURCE: GGL Resources Corp.

View source version on accesswire.com:
https://www.accesswire.com/639020/GGL-Resources-Corp-Announces-Results-from-Underground-Sampling-at-Gold-Point-Nevada

Toronto, Ontario–(Newsfile Corp. – April 6, 2021) – Crown Mining Corporation (TSXV: CWM) (FSE: C73) ("Crown" or the "Company") is pleased to announce that it has completed the change of its name to US Copper Corp. The name change will take effect when stock markets open to trade on April 8, 2021. The common shares will trade on the TSX Venture Exchange under the new ticker symbol "USCU". The new CUSIP for the Company's common shares is 91735Y107.

Accordingly, on April 8, 2021, our internet domain name will change to www.uscoppercorp.com. Visitors to our current website address, and communication to our current electronic mail addresses, will be redirected to our new site.

Steve Dunn, President, CEO and director said, "April 8, 2021 is an important day in our evolution as we change our name to US Copper Corp to reflect the location of our major asset, the Moonlight-Superior Copper Project in North-East California and our confidence in Plumas County, California as a supportive mining jurisdiction. Our new name also highlights our company as potential beneficiaries of the U.S. government's strategy to focus on domestic supply of critical minerals, broadening our appeal to U.S. investors."

About Crown Mining Corp.
Crown 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 Crown'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.crownminingcorp.com or on www.sedar.com under the Crown Mining 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/79582

Copper futures for May delivery gained 2.3% to $4.1375 per pound — a level last seen in mid-March — courtesy of upbeat services PMI data and better-than-expected nonfarm payrolls numbers, which have been fueling optimism regarding a robust US economic growth this year. Meanwhile, the decision by Chile — the world’s top exporter of the metal — to close its borders during April due to a spike in COVID-19 cases has led to supply concerns. So far this year, copper prices have gained 16% owing to accelerating demand for the red metal on account of pick up in manufacturing activity, particularly in China.

The IHS Markit US Services PMI came in at 60.4 in March 2021, higher than 59.8 in February — the fastest output growth since July 2014. New business expanded the most in six years, reflecting strengthening client demand amid easing of virus containment restrictions in some states. According to the latest Labor Department report, total nonfarm payroll employment rose by 916,000 in March and the unemployment rate fell to 6.0%, reflecting the resumption of economic activity that had been thwarted by the pandemic. In the United States, there has been a noted expansion in manufacturing activity over the past 10 months. The Caixin China General Manufacturing PMI has remained above 50 since May last year, denoting expansion. Meanwhile, the IHS Markit Eurozone Manufacturing PMI has also trended above 50 since July last year. This pickup in manufacturing activity worldwide bodes well for copper demand.

Chile closed its borders in April in an effort to counter the rise in coronavirus cases as it seeks to accelerate its vaccination campaign. Notably, the country’s reported infections have crossed the 1 million mark. The stepped-up border restrictions may disrupt mining activities by delaying equipment replacement. Notably, supplies from two major producers Chile and Peru, which together account for about 40% of world copper production, have been volatile due to the impact of the coronavirus pandemic. While Chile's copper output decreased 1% in 2020, production in Peru fell 12.5%. The unrelenting nature of the pandemic remains a persistent threat to copper miners. Nevertheless, this demand-supply imbalance will prop up copper prices, which bodes well for miners.

The long-term outlook for copper remains positive as demand is anticipated to improve on investments in electric vehicles and renewable energy, and infrastructure. Meanwhile, grade decline, rising input costs, water constraints and scarcity of high-quality future development opportunities continue to constrain the industry’s supply. Notably, miners are now committed to cost-reduction strategies and digital innovation to drive operating efficiencies, which will aid margins in the long haul.

Copper miners fall under the Zacks Mining – Non Ferrous industry, which has gained 68.8% in the past six months compared with the S&P 500’s rally of 18.6%. The industry falls under the broader Basic Materials sector, which increased 30.3%. The industry currently carries a Zacks Industry Rank #97, which places it at the top 37% 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.

Per the latest Earnings Trends, after remaining in the red for the past four quarters, the Basic Materials sector returned to growth with an earnings improvement of 28.1% in fourth-quarter 2020. The sector is expected to witness growth of 66.4% in earnings in first-quarter 2020, followed by 162.2%, 48.8% and 11.8% in the second, third and fourth quarters, respectively. The prospects for 2021 look promising for the sector with an impressive earnings growth projection of 58.4%.

5 Copper Stocks to Watch

We suggest investors to keep an eye on these five copper-mining stocks that we have handpicked. Notably, each of these stocks have a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), and outperformed both the sector’s and S&P 500’s rally of 33.1% and 20.6%, respectively. This is shown in the chart below. These stocks are anticipated to carry the momentum forward backed by their earnings growth projections.

BHP Group BHP: Headquartered in Melbourne, Australia, BHP Group engages in exploration, development, and production of oil and gas properties; and mining of copper, silver, zinc, molybdenum, uranium, gold, iron ore, and metallurgical and energy coal.

The company has four major projects under development in petroleum, copper, iron ore and potash with a combined budget of $8.5 billion over the life of the projects, which will drive growth in the long run. Efforts to make operations more efficient through smarter technology adoption across the entire value chain will continue to aid in reducing costs, thereby boosting the company’s margins. Its focus on lowering debt will also contribute to growth.

The company has a long-term estimated earnings growth rate of 4%. The Zacks Consensus Estimate for the company’s fiscal 2021 earnings suggests year-over-year growth of 77%. The estimate has been revised upward by 19% over the past 90 days. The stock flaunts a Zacks Rank #1. Its shares have climbed 41% in the past six months.

Rio Tinto plc RIO: Headquartered in London, the U.K., Rio Tinto engages in mining of aluminum, silver, molybdenum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium.

The company’s world-class portfolio of high-quality assets and strong balance sheet positions it well to navigate through these turbulent times. Rio Tinto’s disciplined capital allocation supports its ability to sustain production, increase investment in development projects (in high-return iron ore and copper), while delivering superior returns to shareholders. Notably, its copper projects at Resolution (Arizona) and Winu (Western Australia) offer significant growth prospects.

The Zacks Consensus Estimate for fiscal 2021 earnings indicates year-over-year improvement of 75%. The estimate has been revised upward by 53% over the past 90 days. The company sports a Zacks Rank #1. Over the past six months, the company’s shares have gained 34%.

Southern Copper Corporation SCCO: This company based in Phoenix, AZ 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 has growth projects on track that will help achieve its target of producing 1.9 million tons of copper production by 2028.

The Zacks Consensus Estimate for the company’s earnings in 2021 suggests year-over-year growth of 66%. The estimate has moved north by 29% in 90 days’ time. It has a long-term estimated earnings growth rate of 17.8%. The company’s shares have appreciated 57.2% in the past six months. It currently has a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.

Freeport-McMoRan Inc. FCX: 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 focus on opportunities to expand reserves. The company will benefit from 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 is looking to advance studies for potential expansions and long-term development options for its large-scale sulfide resources at Lone Star. The company's effective cost management and efforts to reduce debt levels appear encouraging.

The Zacks Consensus Estimate for earnings for fiscal 2021 indicates year-over-year improvement of 365%. The estimate has been revised upward by 32% over the past 90 days. Shares of the company has soared 125% over the past six months. It has a Zacks Rank #3 and a long-term estimated earnings growth rate of 26.6%.

Kaz Minerals plc KZMYY: 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-poised to grow on the back of its large scale, low cost open copper pit mines. Its constant focus on implementing modern technology to develop deposits has aided it in building a portfolio of highly profitable mines with low operating costs. The Aktogay expansion project, which is anticipated to commence production in late 2021, is expected to boost the company’s copper production by 80,000 tons from 2022-27 and 60,000 tons thereafter. The bankable feasibility study for the Baimskaya copper project is estimated 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 2021 has moved up 47% over the past 90 days. Its shares have soared 86% in the past six months. The stock has a Zacks Rank #2.

Zacks Top 10 Stocks for 2021

In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?

Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.

Access Zacks Top 10 Stocks for 2021 today >>

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

BHP Group Limited Sponsored ADR (BHP) : Free Stock Analysis Report

FreeportMcMoRan Inc. (FCX) : Free Stock Analysis Report

Southern Copper Corporation (SCCO) : Free Stock Analysis Report

Kaz Minerals PLC (KZMYY) : Free Stock Analysis Report

To read this article on Zacks.com click here.

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

NEW YORK, April 5, 2021 /PRNewswire/ — Virtual Investor Conferences, the leading proprietary investor conference series today announced that the presentations from the March Extractive Industry lnvestor Conference are now available for on-demand viewing.

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

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.

Participating Companies:

To facilitate investor relations scheduling, for more information about the program 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.

View original content to download multimedia:http://www.prnewswire.com/news-releases/global-metals–mining-investor-conference-presentations-now-available-for-on-demand-viewing-301261241.html

SOURCE VirtualInvestorConferences.com

Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Iluka Resources Limited (ASX:ILU) as an investment opportunity by taking the expected future cash flows and discounting them to their present value. We will take advantage of the Discounted Cash Flow (DCF) model for this purpose. Believe it or not, it's not too difficult to follow, as you'll see from our example!

Companies can be valued in a lot of ways, so we would point out that a DCF is not perfect for every situation. If you still have some burning questions about this type of valuation, take a look at the Simply Wall St analysis model.

See our latest analysis for Iluka Resources

Crunching the numbers

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

A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we 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$1.9b

The second stage is also known as Terminal Value, this is the business's cash flow after 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 7.7%.

Terminal Value (TV)= FCF₂₀₃₀ × (1 + g) ÷ (r – g) = AU$346m× (1 + 2.0%) ÷ (7.7%– 2.0%) = AU$6.2b

Present Value of Terminal Value (PVTV)= TV / (1 + r)¹⁰= AU$6.2b÷ ( 1 + 7.7%)¹⁰= AU$3.0b

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$4.8b. The last step is to then divide the equity value by the number of shares outstanding. Compared to the current share price of AU$7.3, the company appears quite good value at a 36% discount to where the stock price trades currently. The assumptions in any calculation have a big impact on the valuation, so it is better to view this as a rough estimate, not precise down to the last cent.

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. You don't have to agree with these inputs, I recommend redoing the calculations yourself and playing with them. 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 Iluka Resources 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 7.7%, which is based on a levered beta of 1.087. 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.

Moving On:

Whilst important, the DCF calculation 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. 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 example, changes in the company's cost of equity or the risk free rate can significantly impact the valuation. Why is the intrinsic value higher than the current share price? For Iluka Resources, we've put together three essential elements you should further examine:

1. Financial Health: Does ILU have a healthy balance sheet? Take a look at our free balance sheet analysis with six simple checks on key factors like leverage and risk.

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

3. Other Solid Businesses: Low debt, high returns on equity and good past performance are fundamental to a strong business. Why not explore our interactive list of stocks with solid business fundamentals to see if there are other companies you may not have considered!

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.

To find a multi-bagger stock, what are the underlying trends we should look for in a business? Firstly, we'd want to identify a growing return on capital employed (ROCE) and then alongside that, an ever-increasing base of capital employed. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. So when we looked at Energy Resources of Australia (ASX:ERA) and its trend of ROCE, we really liked what we saw.

Return On Capital Employed (ROCE): What is it?

Just to clarify if you're unsure, ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business. To calculate this metric for Energy Resources of Australia, this is the formula:

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

0.013 = AU$9.7m ÷ (AU$1.0b – AU$229m) (Based on the trailing twelve months to December 2020).

So, Energy Resources of Australia has an ROCE of 1.3%. Even though it's in line with the industry average of 1.3%, it's still a low return by itself.

See our latest analysis for Energy Resources of Australia

While the past is not representative of the future, it can be helpful to know how a company has performed historically, which is why we have this chart above. If you're interested in investigating Energy Resources of Australia's past further, check out this free graph of past earnings, revenue and cash flow.

The Trend Of ROCE

Like most people, we're pleased that Energy Resources of Australia is now generating some pretax earnings. Historically the company was generating losses but as we can see from the latest figures referenced above, they're now earning 1.3% on their capital employed. At first glance, it seems the business is getting more proficient at generating returns, because over the same period, the amount of capital employed has reduced by 20%. This could potentially mean that the company is selling some of its assets.

For the record though, there was a noticeable increase in the company's current liabilities over the period, so we would attribute some of the ROCE growth to that. Essentially the business now has suppliers or short-term creditors funding about 23% of its operations, which isn't ideal. It's worth keeping an eye on this because as the percentage of current liabilities to total assets increases, some aspects of risk also increase.

The Bottom Line On Energy Resources of Australia's ROCE

In summary, it's great to see that Energy Resources of Australia has been able to turn things around and earn higher returns on lower amounts of capital. Given the stock has declined 12% in the last five years, this could be a good investment if the valuation and other metrics are also appealing. With that in mind, we believe the promising trends warrant this stock for further investigation.

One more thing to note, we've identified 1 warning sign with Energy Resources of Australia and understanding it should be part of your investment process.

If you want to search for solid companies with great earnings, check out this free list of companies with good balance sheets and impressive returns on equity.

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.

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

NEW YORK, April 2, 2021 /CNW/ – Virtual Investor Conferences, the leading proprietary investor conference series today announced that the presentations from the March Extractive Industry lnvestor Conference are now available for on-demand viewing.

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

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.

Participating Companies:

Presentation	Ticker(s)
Keynote Presentation: By-Passing China in the Economic Recovery Christopher Ecclestone, Mining Strategist Hallgarten & Co.
Appia Energy Corp.	(OTCQB: APAAF | CSE: API)
Osisko Metals Inc.	(OTCQX: OMZNF | TSX-V: OM)
Nova Royalty Corp.	(OTCQB: NOVRF | TSX-V: NOVR)
Northern Minerals Ltd.	(Pink: NMEX | ASX: NTU)
Luncheon Speaker: Can Critical Metal Supply Chains be Economically Constructed in the Free World? Jack Lifton, Founder, Technology Metals Research
Energy Fuels Inc.	(NYSE American: UUUU | TSX: EFR)
Vision Lithium Inc.	(OTCQB: ABEPF | TSX-V: VLI)
Electric Royalties, Ltd.	(Pink: ELECF | TSX-V: ELEC)
Intercontinental Gold and Metals Ltd.	(TSX-V: ICAU)
Canada Silver Cobalt Works Inc.	(OTCQB: CCWOF | TSX-V: CCW)
Renforth Resources Inc. – Nickel/Surimeau	(OTCQB: RFHRF | CSE: RFR)
Thor Mining PLC	(OTCQB: THORF | ASX: THR | AIM: THR)
Vital Metals Ltd.	(Pink: VTMXF | ASX: VML)
Lake Resources NL	(OTCQB: LLKKF | ASX: LKE)
Keynote Presentation: The Outlook for Precious Metals Prices Jeffrey M. Christian, Managing Partner CPM Group
Amex Exploration Inc.	(OTCQX: AMXEF |TSX-V: AMX)
Bonterra Resources Inc.	(OTCQX: BONXF | TSX-V: BTR)
Vanstar Mining Resources, Inc.	(Pink: VMNGF | TSX-V: VSR)
Signature Resources Ltd.	(OTCQB: SGGTF | TSX-V: SGU)
Luncheon Speaker: Silver: The Technometal New Demand, New Policy, New Future Phillips S. Baker, Jr., President & CEO of Hecla Mining
VanGold Mining Corp.	(OTC VGLDF |TSX-V: VGLD)
Golden Valley Mines Ltd.	(OTCQX: GLVMF | TSX-V: GZZ)
Renforth Resources Inc. – Gold/Parbec	(OTCQB: RFHRF | CSE: RFR)
Trillium Gold Mines Inc.	(OTCQX: TGLDF | TSX-V: TGM)
Aztec Minerals Corp.	(OTCQB: AZZTF | TSX-V: AZT)
Prosper Gold Corp.	(OTCQX: PGXFF | TSX-V: PGX)
Silver Bullet Mines, Inc.	(Private Company)
Honey Badger Silver Inc.	(Pink: HBEIF | TSX-V: TUF)
Fabled Silver Gold Corp	(OTCQX: FBSGF | TSX-V: FCO)

To facilitate investor relations scheduling, for more information about the program 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

Cision

View original content: http://www.newswire.ca/en/releases/archive/April2021/02/c3140.html