With its stock down 10% over the past three months, it is easy to disregard EROAD (NZSE:ERD). However, stock prices are usually driven by a company’s financials over the long term, which in this case look pretty respectable. In this article, we decided to focus on EROAD's ROE.

Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors’ money. Put another way, it reveals the company's success at turning shareholder investments into profits.

View our latest analysis for EROAD

How Is ROE Calculated?

ROE can be calculated by using the formula:

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

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

2.3% = NZ$2.1m ÷ NZ$92m (Based on the trailing twelve months to September 2020).

The 'return' is the yearly profit. Another way to think of that is that for every NZ$1 worth of equity, the company was able to earn NZ$0.02 in profit.

What Has ROE Got To Do With Earnings Growth?

So far, we've learned that ROE is a measure of a company's profitability. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don’t share these attributes.

A Side By Side comparison of EROAD's Earnings Growth And 2.3% ROE

As you can see, EROAD's ROE looks pretty weak. Even compared to the average industry ROE of 32%, the company's ROE is quite dismal. However, the moderate 13% net income growth seen by EROAD over the past five years is definitely a positive. We reckon that there could be other factors at play here. For example, it is possible that the company's management has made some good strategic decisions, or that the company has a low payout ratio.

As a next step, we compared EROAD's net income growth with the industry, and pleasingly, we found that the growth seen by the company is higher than the average industry growth of 10%.

Earnings growth is a huge factor in stock valuation. It’s important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). Doing so will help them establish if the stock's future looks promising or ominous. Has the market priced in the future outlook for ERD? You can find out in our latest intrinsic value infographic research report.

Is EROAD Making Efficient Use Of Its Profits?

Summary

Overall, we feel that EROAD certainly does have some positive factors to consider. Despite its low rate of return, the fact that the company reinvests a very high portion of its profits into its business, no doubt contributed to its high earnings growth. That being so, the latest analyst forecasts show that the company will continue to see an expansion in its earnings. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page for the company.

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.

CALGARY, AB, April 2, 2021 /CNW/ – Uravan Minerals Inc. (TSXV: UVN) ("Uravan") announces the sale of its Outer Ring mining claims (the "OR Claims") located in the Athabasca Basin, in Saskatchewan. The OR Claims were purchased from Uravan by an independent exploration group.

From 2011 to 2016 Uravan's technical team evaluated the OR Claims by applying surface geochemical techniques and airborne geophysical surveys, followed by several drill programs that targeted potential areas identified. The results of this work provided no positive uranium mineral response; hence, the Uravan Board did not recommend incurring further exploration expenditures on the OR Claims.

Therefore, due to Uravan's current financial constraints, weak spot natural uranium prices and lack of access to financial markets or other sources of financing, Uravan determined it is in the best interest of its shareholders to divest and sell the OR Claims in lieu of allowing the claims to lapse due to a lack of further work expenditures.

Uravan will continue to pursue and evaluate other businesses and strategic opportunities, both within and outside the mineral exploration industry, to include mergers and RTO arrangements and will make further announcements with respect to these efforts in due course.

Cautionary Statement
This press release may contain forward looking statements including those describing Uravan's plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, much of which are beyond the control of Uravan and its management. This news release contains forward-looking statements pertaining. Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive.These statements speak only as of the date of this release or as of the date specified in the documents accompanying this release.The Corporation undertakes no obligation to publicly update or revise any forward-looking statements except as expressly required by applicable securities laws.

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

SOURCE Uravan Minerals Inc.

View original content: http://www.newswire.ca/en/releases/archive/April2021/02/c6961.html

TORONTO, ON / ACCESSWIRE / April 1, 2021 / PJX Resources Inc. (TSXV:PJX) ("PJX") is pleased to announce that drilling by DLP Resources ("DLP") on PJX's DD Property has intersected strongly hydrothermally altered and sheared Sullivan horizon siltstone/argillite at Sullivan Horizon target depth from 1452.46m to 1550m in hole DDH21-01 (Figure 1). Weak pyrrhotite (iron-sulphide), chalcopyrite (copper-iron-sulphide) and trace pyrite (iron-sulphide) occur through the alteration zone. The hole ended at 1728m in weakly altered lower Aldridge sediments with tourmalinite.

John Keating, President of PJX commented: "Only two holes spaced 2 km apart have been drilled on the DD Property. Both holes intersected hydrothermally altered sediments at target depth called the Sullivan time horizon, the geological age when the Sullivan deposit was formed. These holes and historical holes drilled about 4 km and 5.5 km to the east, on the Moby Dick and NZOU Properties, support the potential for Sullivan type massive sulphide mineralization. We are pleased that DLP is encouraged by results to date and will continue drilling to test large Magnetotelluric (MT) anomalies at target depth along a 5 km untested trend."

Next Steps

According to DLP, strong sericite-silica alteration and yellow-brown phengite visible in the altered Sullivan horizon confirms hole DD21-01 is distal from a mineralized source. Drilling will now move 2.1km to the SE where the main NE-SW trend of MT anomalies corresponds with DLP's vectoring to the main Sullivan Zn-Pb-Ag targets over approximately 5.1km. Drilling of the first of four targets along this trend is planned to commence in the first week of April (Figures 2 and 3).

PJX's DD Property, located near Cranbrook, British Columbia, is under option to DLP Resources. (see Property Ownership below).

The geological disclosure and content of this news release has been reviewed and approved by Dave Pighin, P.Geo., and John Keating P.Geo. (qualified persons for the purpose of National Instrument 43-101 Standards of Disclosure for Mineral Projects). Mr. Pighin is the consulting geologist for PJX and DLP on the DD Property. Mr. Keating is the President, Chief Executive Officer and a Director of PJX.

Figure 1:Titan MT resistivity section along Line 5N showing Drill Hole DD21-01

Figure 2:Titan MT resistivity plan at 0m elevation with DD21-01 on the Gerry Vent and Planned DD21-02 on the main MT Anomaly trend

Figure 3:Simplified plan showingMT anomalies at 0m elevation on the DD-Moby Dick and NZOU Properties and DD21-01 and DD21-02 Drill Holes

DD, NZOU and Moby Dick Property Ownership

DLP can earn a 50% interest in the DD Property by spending $4 million in exploration expenditures on the DD, Moby Dick and NZOU Properties and paying $250,000 cash to PJX by July 13, 2024.

DLP can earn an additional 25% interest, to a total of 75% interest, in the DD Property by completing a Commercial Feasibility Study on the 3 properties by July 13, 2028.

PJX (50%) and DLP (50%) jointly own 100% of the mineral rights to the Moby Dick Property and jointly have the right to own 100% interest in the NZOU Property through an option agreement between DLP and the NZOU Property owner. Exploration expenditures incurred by DLP on these two properties will be applied toward DLP's exploration expenditure requirements to earn an interest in the DD Property.

About PJX Resources Inc.

PJX is a mineral exploration company focused on building shareholder value and community opportunity through the exploration and development of mineral resources with a focus on gold and base metals. PJX's gold properties (Gold Shear, Eddy, Zinger, Dewdney Trail) and base metal properties (Vine, DD, West Basin, Parker Copper) are located in the historical Sullivan mining district and Vulcan Gold Belt of Cranbrook and Kimberley, British Columbia. Please refer to our web site http://www.pjxresources.com for additional information.

FOR FURTHER INFORMATION PLEASE CONTACT:
Linda Brennan, Chief Financial Officer
(416) 799-9205
info@pjxresources.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.

Forward-Looking Information

This News Release contains forward-looking statements. Forward looking statements are statements which relate to future events. Forward-looking statements include, but are not limited to, statements with respect to exploration results, the success of exploration activities, mine development prospects, completion of economic assessments, and future gold production. In some cases, you can identify forward-looking statements by terminology such as "may", "appears to", "should", "expects", "plans", "anticipates", believes", "estimates", "predicts", "potential", or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our actual results, level of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking-statements.

Although PJX has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

SOURCE: PJX Resources Inc.

View source version on accesswire.com:
https://www.accesswire.com/638521/DLP-Resources-Continues-Drilling-on-PJX-Resources-DD-Property

Vancouver, British Columbia–(Newsfile Corp. – April 1, 2021) – Orestone Mining Corp. (TSXV: ORS) ("Orestone" or the "Company") has, subject to regulatory approval, granted to officers, directors, advisors and consultants of the Company incentive stock options to purchase an aggregate of 1,615,000 common shares. The options are exercisable until April 1, 2026 at an exercise price of $0.12 per share.

Orestone Mining Corp. is a Canadian based company that owns a 100% percent interest in the 37 square kilometre Captain gold-copper porphyry project in north central British Columbia. The project hosts a gold-copper porphyry system which encompasses a cluster of large targets (see website for maps) located 41 kilometres north of Fort St. James, B.C. and 30 kilometres south of the Mt. Milligan copper-gold mine. 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.

For more information please visit: 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/79246

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

• Rogue has received a formal refusal from Québec's Ministère des Forêts, de la Faune et des Parcs ("MFFP") regarding the permit application for the Company's Silicon Ridge Project

• After 6 years of investment, based on the continued perceived support and explicit signoffs along the way, the Company will now pivot to seek fair compensation of its investment, the project value, and other damages

TORONTO, ON / ACCESSWIRE / April 1, 2021 / Rogue Resources Inc. (TSXV:RRS) ("Rogue" or the "Company") is deeply disappointed to announce that the Province of Québec has chosen to refuse the permit process attempting to advance its 100% owned Silicon Ridge Project ("Project"), located approximately 42 kilometres ("km") north of Baie-Saint-Paul, Québec, and 4 km northeast of Sitec's operating silica mine.

The Silicon Ridge Project represented an opportunity for the development of a quarrying operation with limited environmental impacts, operating within an area that currently supports active quarrying operations co-existing with the local wildlife. The Company designed its project to minimize the impacts on the wildlife and other stakeholders within the region. The local community was supportive of the Project for jobs (see News Release dated March 27, 2017) and Québec-based buyers of the quartz were interested in the new supply, to help supply silicon metal production and Québec's focus on the new green economy.

"It's very disappointing to be told that our Project is now officially blocked, but frankly, given the long delays in the process and lack of any open solution-oriented dialogue with MFFP representatives since mid-2017, it is not a total surprise", said Sean Samson, President and CEO of Rogue. "Rogue has remained consistent and transparent with the government throughout this process but we did not feel it was reciprocal. Rogue had listened to MFFP's initial, informal review of the Project and chose to significantly reduce its geographic footprint. I am convinced our projected disturbance was minimal and negligible compared to the average forestry operation in the area. I am saddened for our local team on the ground in the Charlevoix community, who wanted the long-term good paying jobs, and also for the Huron-Wendat Nation with whom we have a partnership agreement. We will work through the options from here with our advisors. While we see this as a setback to our objective of bringing Québec's Silicon Ridge Project into production, Rogue has continued to advance our other projects, including the successful Rogue Stone – Limestone quarries in Ontario."

Brief Overview of Interaction with the Province of Québec

Rogue acquired the Silicon Ridge Project in August 2014 and immediately began additional investments in developing the Project by spending on Exploration and Technical Analysis, using Québec-based firms. Soon after Rogue initiated the programs, in 2015 the province (through SIDEX- an initiative of the Québec government and the Fonds de solidarité des travailleurs du Québec) invested directly into Rogue, to support the Company's work in the province.

Initially, the Province of Québec (and the MFFP) were very supportive

In January 2015 the MFFP approved the extensive deforestation permit related to the initial drill plan. Combined with the permit from the Ministère de l'Énergie et des Ressources naturelles ("MERN"), Rogue spent $3.5M on the Project's Exploration and Technical Analysis by April 30, 2016 (Rogue's fiscal year-end), using almost all Québec-based suppliers.

Based on research conducted by Rogue's team using publicly available information on the Woodland Caribou, initial feedback from the MFFP and discussions with stakeholders in the community, Rogue voluntarily decided to improve the Project's original concept to minimize impact on the Woodland Caribou habitat and potential sightlines from the regional tourist areas. These improvements were across 4 main areas (this became the "2017 Project Plan"):

1. Footprint: The project area was reduced by over 50% between the 2016 and the 2017 Project Plans.

2. Site Layout: Improved the design of waste piles to be behind ridges and barely visible from the Mont du Lac-des-Cygnes viewpoint in the Parc national des Grands-Jardins. Rogue proposed to upgrade existing trails/roads accessing the property as much as possible.

3. Continuous Reclamation: Rogue proposed to shift to refilling the mining void on a regular basis with overburden and waste material to minimize the overall open cut.

4. Operating Schedule: Rogue proposed to shift from year-round operation in the 2016 Project Plan to a limited "spring through fall" operation in the 2017 Project Plan. Rogue also anticipated additional restrictions during the important spring calving season.

The 2017 Project Plan was done voluntarily and was well received by representatives of the MFFP at meetings in February 2017.

Rogue applied for permits, everything hinged on MFFP

After the February MFFP meetings, Rogue submitted the Section 128.7 Authorization application and expected an expedited turnaround as had been discussed with MFFP representatives. Rogue publicly planned to target commercial operation in 2017 at Silicon Ridge (see News Release dated February 13, 2017).

It should be noted that the Company had also submitted the applications for:

1. The bail d'exploitation minière permit ("BEX"). Based upon communications with the representatives of the MERN, Rogue was told that it had provided all of the required information for the Ministry to complete the application process except for the requirement that the MFFP provide its decision on the Section 128.7 Authorization;

2. The Certificate of Authorization ("CofA") with Ministère de Développement durable, de l'Environnement et de la Lutte contre les changements climatiques ("MDDELCC") and based on communications with representatives of the MDDELCC, Rogue had provided all of the required information for the Ministry to complete the application process except for the MFFP's Section 128.7 Authorization and the BEX from the MERN.

In summary, by April 2017 everything was complete for the Project to advance, pending the MFFP's Section 128.7 Authorization decision.

In the 12 months from April 30, 2016, during this period of continued positive feedback from the MFFP, Rogue spent an additional $900K on Environmental Studies, Exploration and Consultants, using almost all Québec-based suppliers.

MFFP permitted additional spending in Spring 2017

On April 27, 2017 the MFFP approved an additional exploration program including the stripping of overburden from approximately 4,500 square metres, covering a portion of the quartzite on top of the ridge to expose the bedrock for detailed mapping, sampling and to confirm the depth of the overburden in the area (see News Release dated April 27, 2017). Despite approving the Exploration permit (and Rogue proceeding to spend more on the Project), no update was available on the Section 128.7 Authorization application.

After the MFFP approved this work, Rogue spent $460K on this Exploration program, using only local suppliers.

After the Spring 2017 spending, everything changed

The Company made numerous requests to the MFFP regarding its permit application, including email and meeting requests, for an estimate of when the decision on the Section 128.7 Authorization application would be reached and asked if any additional information was required to finalize a decision. Until a meeting in August, 2017 there were no substantive communications from the MFFP and the Company continued to be impacted by the lack of clarity on the timing for potential sales contract negotiations and a development decision for the project.

At the August 2017 meeting, the project was put on hold (see News Release dated August 10, 2017), the MFFP explained that a decision on the Section 128.7 Authorization application would not be made until a policy study forming part of the Province-wide action plan for the development of forest-dwelling caribou habitat was completed in Spring of 2018.

Deadlines passed and Promises were ignored

In March 2018, the MFFP informed Rogue that the MFFP's decision would be further delayed, until fall of 2018. No update was provided for the remainder of 2018 and most of 2019, despite continued attempts to seek information.

In November 2019, the MFFP agreed to a telephone update and explained that the Study was taking longer than expected and there was now no date for completion. The MFFP promised to keep Rogue updated if anything changed.

In March 2020, the Province of Québec's Budget referenced the Woodland Caribou, including funding to "…support companies that could be impacted by measures in the government's future strategy". This was the first official mention of potential compensation of companies for impacts from the political inaction. When Rogue was able to ask MFFP about this it was explained as something "directed at the forestry companies".

In April 2020, the MFFP made a statement that Québec would not act until 2022.

In early May 2020, Rogue met with the federal Minister of Environment and Climate Change and explained that the Company was still waiting to hear back from the MFFP.

Later in May 2020, Rogue's management and representatives of the Board and external counsel participated in an update call with the MFFP. On the call the MFFP explained that Rogue would soon receive a decision, promising this by the end of June (one month away). Nothing was heard in response.

In June 2020, Rogue was invited to meet at La Malbaie with Minister Pierre Dufour of the MFFP and also the minister responsible for the region of Abitibi-Témiscamingue and the region of Nord-du-Québec. This was a group session, with regional members of industry invited. No new details were presented or discussed.

In September 2020 Rogue was invited to participate in another industry meeting, this time in Québec City. The Company was not able to attend this meeting in-person but again asked about the update promised on the May call and heard nothing in response.

In early October 2020 the MFFP accepted Rogue's continued requests for an update and held a videoconference with Rogue's management and representatives of the Board. During this call, the MFFP referred multiple times to the existence of zones which are "Hot Spots" (a non-technical, MFFP term) for the Woodland Caribou and that one Hot Spot is on Rogue's Project site. Rogue specifically asked how long had the MFFP known about this Hot Spot and was told that it was well documented internally and had been known for some years by the ministry. This was entirely new information for Rogue and was data that the Company had been asking for since the initial meetings with the MFFP in 2016. The MFFP promised to send full details in a letter.

Later in October 2020, Rogue received a letter from the MFFP which did not detail the information referred to on the videoconference, it did not include further information about Woodland Caribou Hot Spot on Rogue's specific Project site, but rather discussed broad generalities about habitat and seasons, which Rogue feels it had addressed with measures it had already taken to limit the habitat and operational impact of the Silicon Ridge Project.

This week's letter also included broad generalities, with none of the detail that Rogue has been continuously requesting.

Rogue was told that its permit application has been refused because of the feared impact of the project's specific land on the province's Woodland Caribou. Despite repeated promises to provide animal traffic data specific to Silicon Ridge, none has ever been provided. In December, media reports claimed that the Charlevoix Woodland Caribou herd was now down to 19 animals across the entire 4,000 square kilometer region¹. The MFFP has GPS collars on most if not all of these animals and although repeatedly promising, never provides the area-specific information.

As also has been explained in detail, the Company's voluntary decision to shift to the 2017 Project Plan significantly limited its impact to 0.5 square kilometres. Rogue felt that it had addressed MFFP's original concerns with measures by limiting the habitat and operational impact of the Silicon Ridge Project and has respectfully requested for similar treatment as the neighboring quarry, owned by Sitec Amérique du Nord Inc. ("Sitec", now owned by Cambria, a US company based in Le Sueur, Minnesota), which has operated its quartz quarry for more than 50 years. Rogue's Silicon Ridge quarry clearly falls within the existing zone of impact as the Sitec quarry.

Over the past six years Rogue has been consistently transparent with various ministries of the Government of Québec, including the MFFP, and in return, the various ministries, including the MFFP, have provided irregular and inconsistent communications to Rogue and now has delivered a formal refusal of the Company's application.

Given the encouragement to continue investing and creating good paying jobs in Québec, the Government of Québec, including the MFFP, have provided continued approvals and encouragement, which led Rogue to continue investing and developing its project. Rogue has remained consistent and has reacted positively to continued support and signoffs along the way. Similarly, Rogue has been consistent in stressing that if a permit is not to be issued, it would expect fair compensation. Rogue has invested more than $5M so far into the Silicon Ridge Project and the Project has been valued at almost 5x that amount by an independent study performed by Québec based engineers and geologists (see News Release dated May 23, 2017). All of this spending has been audited, can be demonstrated and explained, and, most importantly was spent based on stage-gated approvals by the MFFP as the Company progressed.

Rogue has notified the Province of Québec that it plans to explore all legal options open to it, to protect the Company and secure fair compensation.

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.

¹ Reported via https://ici.radio-canada.ca/nouvelle/1755320/caribous-charlevoix-declin-seuil-critique-enclos-faune

SOURCE: Rogue Resources Inc.

View source version on accesswire.com:
https://www.accesswire.com/638671/Rogue-Update-Quebec-Refuses-Silicon-Ridge-Application

Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key financial metrics. Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's amount 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 on that note, Fresnillo (LON:FRES) looks quite promising in regards to its trends of return on capital.

Understanding Return On Capital Employed (ROCE)

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

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

0.13 = US$714m ÷ (US$5.7b – US$340m) (Based on the trailing twelve months to December 2020).

Therefore, Fresnillo has an ROCE of 13%. In absolute terms, that's a pretty normal return, and it's somewhat close to the Metals and Mining industry average of 14%.

Check out our latest analysis for Fresnillo

Above you can see how the current ROCE for Fresnillo compares to its prior returns on capital, but there's only so much you can tell from the past. If you're interested, you can view the analysts predictions in our free report on analyst forecasts for the company.

What Does the ROCE Trend For Fresnillo Tell Us?

Fresnillo is displaying some positive trends. The data shows that returns on capital have increased substantially over the last five years to 13%. The company is effectively making more money per dollar of capital used, and it's worth noting that the amount of capital has increased too, by 42%. The increasing returns on a growing amount of capital is common amongst multi-baggers and that's why we're impressed.

What We Can Learn From Fresnillo's ROCE

All in all, it's terrific to see that Fresnillo is reaping the rewards from prior investments and is growing its capital base. Considering the stock has delivered 1.3% to its stockholders over the last five years, it may be fair to think that investors aren't fully aware of the promising trends yet. So with that in mind, we think the stock deserves further research.

If you want to continue researching Fresnillo, you might be interested to know about the 2 warning signs that our analysis has discovered.

While Fresnillo may not currently earn the highest returns, we've compiled a list of companies that currently earn more than 25% return on equity. Check out this free list 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.

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VANCOUVER, BC, April 1, 2021 /CNW/ – IsoEnergy Ltd. ("IsoEnergy") (TSXV: ISO) (OTCQX: ISENF) announces that Mr. Steve Blower, Vice President, Exploration has resigned, effective April 30, 2021. Tim Gabruch, President and Chief Executive Officer commented: "On behalf of the Company, I would like to thank Steve for his efforts and contribution since 2016 in his role as Vice President Exploration and wish him all the best in his future endeavours."

The Company has commenced a search for the position's replacement, in advance of the 2021 exploration program which is currently paused in line with the Public Health Advisory due to COVID-19. In the interim, the IsoEnergy exploration team will report to the Chief Executive Officer and will continue to prepare for the exploration program deployment with support from the Saskatoon based NexGen geological team.

About IsoEnergy

IsoEnergy is a well-funded uranium exploration and development company with a portfolio of prospective projects in the eastern Athabasca Basin in Saskatchewan, Canada. The Company recently discovered the high-grade Hurricane zone of uranium mineralization on its 100% owned Larocque East property in the Eastern Athabasca Basin. IsoEnergy is led by a Board and Management team with a track record of success in uranium exploration, development and operations. The Company was founded and is supported by the team at its major shareholder, NexGen Energy Ltd.

Neither the 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 release.

This news release shall not constitute an offer to sell or a solicitation of any offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities referenced herein have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and such securities may not be offered or sold within the United States absent registration under the U.S. Securities Act or an applicable exemption from the registration requirements thereunder.

Forward-Looking Information

The information contained herein contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, planned exploration activities. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.

Such forward-looking information and statements are based on numerous assumptions, including among others, that the results of planned exploration activities are as anticipated, the price of uranium, the anticipated cost of planned exploration activities, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company's planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known mineral reserves or resources, the limited operating history of the Company, the influence of a large shareholder, alternative sources of energy and uranium prices, aboriginal title and consultation issues, reliance on key management and other personnel, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, availability of third party contractors, availability of equipment and supplies, failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals.

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 or implied by 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 forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.

SOURCE IsoEnergy Ltd.

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VANCOUVER, British Columbia, March 31, 2021 (GLOBE NEWSWIRE) — MAG Silver Corp. (TSX / NYSE American: MAG) (“MAG” or the “Company”) announces the Company’s audited consolidated financial results for the year ended December 31, 2020. For details of the audited consolidated financial statements, Management's Discussion and Analysis, Annual Information Form and Annual Report on Form 40-F for the year ended December 31, 2020, please see the Company’s filings on SEDAR (www.sedar.com) or on EDGAR (www.sec.gov).

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

HIGHLIGHTS – DECEMBER 31, 2020 AND SUBSEQUENT TO YEAR END

OPERATIONAL

• Processing of mineralized material from development headings through the nearby Fresnillo plant was a new initiative at Juanicipio implemented in August 2020.

• During the period from August through December 2020, on a 100% basis:

  • 71,859 tonnes of mineralized material with a head grade of 328 grams per tonne (“g/t”) were processed through the Fresnillo plant, with 616,341 payable silver ounces, 1,029 payable gold ounces, 163 tonnes of lead and 224 tonnes of zinc produced and sold.

• Significantly faster ramp-up expected than previously guided due to the de-risking of Juanicipio’s metallurgical performance by virtue of batch processing the mineralized material through the Fresnillo plant.

• Pre-commercial production sales of $15,335 (net of treatment and processing costs) on a 100% basis less $3,873 in mining and transportation costs, netting $11,462 that was recorded as gross profit by the Juanicipio Joint Venture for the period August through December 2020.

• Construction of the 4,000 tonne per day (“tpd”) Juanicipio plant continues to advance, with the plant foundations completed, and with fabrication for the plant in process. SAG and ball mills, flotation cells, all associated vessels, thickeners and ancillary process equipment are now secured on site. The lead and zinc flotation cell lines have been installed and are now being connected to the hydraulic circuit.

• Underground development at Juanicipio now exceeds 35 km (22 miles) with preparation of the first production stope concluded during the third quarter of 2020.

• Juanicipio capex is estimated at $440,000 (100% basis) as of January 1, 2018, less approximately $228,000 in development expenditures incurred from then to December 31, 2020 leaving approximately $212,000 of remaining initial capital on a 100% basis (MAG’s 44% estimated at $93,280) as at December 31, 2020. The cash required will be reduced by:

  • Existing cash held in Minera Juanicipio as at December 31, 2020 ($51,503 on a 100% basis); and,

  • Expected cashflow generated from mineralized material being processed through the Fresnillo plant up until the Juanicipio plant commences commissioning in Q4-2021.

• As reported by the operator Fresnillo, the Juanicipio plant is now expected to commence commissioning in Q4-2021, reaching 40 to 50% of its 4,000 tpd nameplate capacity by the end of 2021 and reaching 90 to 95% of its nameplate capacity in 2022.

• A further 24,680 tonnes with a silver head grade of 498 g/t (52% higher head grade than material processed in 2020) were processed in January and February 2021.

• Mineralized material from development will continue to be batch processed on commercial terms at a targeted rate of 16,000 tonnes per month at the nearby Fresnillo plant until the Juanicipio plant is commissioned.

EXPLORATION

• Assays from a 33,864 metre, 28-hole 2019 exploration program were released March 3, 2020 (see Press Release of same date), with the following highlights:

  • Confirmed and expanded the continuous wide, high-grade mineralization in the Valdecañas Deep Zone;

  • Confirmed and expanded the wide, high-grade zones in the Anticipada Vein;

  • Confirmed and expanded the Venadas vein to the south with strong silver and gold grades; and

  • Discovered the new northeast-trending Valentina and Venadas II veins through drilling and development.

• After temporary COVID-19 restrictions established by the Mexican Government were lifted late in the second quarter, drilling resumed in the third quarter and the full Juanicipio 2020 exploration program was completed as planned in 2020 (all assays pending).

• Deer Trail Project in Utah was announced in September 2020, a silver-rich Carbonate Replacement Deposit (“CRD”) target with potential for a related Copper-Molybdenum Porphyry. Phase I drilling commenced in November, 2020 and continues in process (assays and interpretations pending).

COVID-19

• Mexican Government’s national COVID-19 Order announced in April 2020 resulted in a temporary suspension through May 30, 2020 of surface exploration and construction work at the Juanicipio Project and reduced underground operations.

• Phased Juanicipio Project restart commenced June 1, 2020.

• Subsequent to the year end, Fresnillo, as operator, reported that commissioning of the Juanicipio processing plant is now expected to commence in Q4-2021, a few months later than previously reported as some infrastructure contracts were delayed due to COVID-19 and COVID-19-related preventive measures implemented at site.

• Juanicipio operator, Fresnillo, has implemented a range of safety measures and monitoring procedures, consistent with the World Health Organization and Mexican Government COVID-19 directives.

LIQUIDITY AND CAPITAL RESOURCES

• On April 30, 2020, the Company closed a non-brokered private placement and issued 4,528,302 common shares at C$13.25 for gross proceeds of C$60,000,002 ($43,134) to Mr. Eric Sprott, through 2176423 Ontario Ltd., a corporation beneficially controlled by him.

• On June 29, 2020, the Company established an at-the-market equity program (the “ATM Program”) and in the quarter ended September 30, 2020 the Company sold and issued 3,092,783 common shares under the ATM Program at an average price of $16.17 per share, for gross and net proceeds of $50,000 and $48,625 respectively.

• As at December 31, 2020, MAG held cash and cash equivalents of $94,008 while Minera Juanicipio had cash on hand on a 100% basis of $51,503.

CORPORATE

• Company continues to refresh its board, with the appointment of three new directors since the beginning of 2020:

  • Appointed Selma Lussenburg on February 1, 2020. Ms. Lussenburg is a business executive, former general counsel, corporate secretary and current board director with over 35 years of business experience. She has held various senior level positions encompassing a broad range of legal, governance, compliance, pension, safety & security and operational responsibilities.

  • Appointed Susan Mathieu on January 14, 2021. Ms. Mathieu has more than twenty-five years of international mining experience encompassing due diligence, exploration, project development, permitting, construction and operational positions. Her mining experience covers the full spectrum from mine-site to corporate leadership roles in governance, environment, sustainability, community, health and safety, compliance and risk management programs and strategies.

  • Appointed Tim Baker on March 31, 2021. Mr. Baker has substantial experience in operating international mines and projects. He was Executive Vice President and Chief Operating Officer of Kinross Gold Corporation prior to retiring in 2010. Prior to joining Kinross, he was with Placer Dome, where he held several key roles including Executive General Manager of Placer Dome Chile, Executive General Manager of Placer Dome Tanzania and Senior Vice President of the copper producing Compañia Minera Zaldivar.

JUANICIPIO PROJECT UPDATE

Underground Mine Production

The first processing of development material commenced in early August 2020. In total, 71,859 tonnes of mineralized material that had been previously stockpiled plus mineralized material from on-going underground development, were processed from August through December 2020. The average silver head grade from this development material was 328 g/t. Total underground mine production and sales, on a 100% basis, was 616,341 payable silver ounces, 1,029 payable gold ounces, 163 tonnes of lead and 224 tonnes of zinc. Sales, net of processing and treatment costs totaled $15,335, and further costs incurred (including an applied mining cost and transportation costs) totaled $3,873 for a gross profit of $11,462 (see Table 1 below).

Table 1: August – December, 2020 Development Material Processed at Fresnillo’s Processing Plant (100% basis)

By bringing forward the start-up of the mine and processing mineralized material at the Fresnillo plant in advance of commissioning the Juanicipio plant, MAG and Fresnillo expect to secure several positive outcomes for the Juanicipio Project:

• generating cash-flow from production to offset some of the cash requirements of the initial project capital;

• de-risking the flotation process through a better understanding of the metallurgical characteristics and response of the Juanicipio mineralization;

• increased certainty around the geological block model prior to start-up of the processing plant; and,

• allowing a quicker and more certain ramp-up to the nameplate 4,000 tonnes per day plant design.

Processing Plant Construction and Commissioning

Construction of the 4,000 tpd Juanicipio plant continues to advance, with the plant foundations completed and with fabrication for the plant in process. SAG and ball mills, flotation cells, all associated vessels, thickeners and ancillary process equipment are now secured on site. The lead and zinc flotation cell lines have been installed and are now being connected to the hydraulic circuit.

In the first quarter of 2020, Fresnillo and MAG jointly announced an update to the initial capex required for the project (see Press Release dated February 24, 2020). The capex or pre-operative project capital cost on a 100% basis of $395,000 as estimated from January 1, 2018 (see Press Release dated April 11, 2019) was revised to $440,000 from January 1, 2018, to reflect additional expenditures incurred by Minera Juanicipio on the underground development and bringing forward the full construction costs for the life-of-mine ventilation shafts, as well as some sustaining capital to facilitate the early underground mine start.

The initial capital already expended from January 1, 2018 to December 31, 2020 is approximately $228,000 leaving an estimated $212,000 of remaining initial capital (MAG’s 44% estimated remaining share is $93,280 as at December 31, 2020). This remaining funding requirement will be reduced by both: existing cash held in Minera Juanicipio as at December 31, 2020 ($51,503 on a 100% basis); and, expected cash flows generated from mineralized material processed at an average nominal rate of 16,000 tonnes per month through the Fresnillo processing plant until the Juanicipio plant is commissioned

Subsequent to the year end, Fresnillo, as operator reported that commissioning of the Juanicipio processing plant is now expected to commence in Q4-2021, a few months later than previously reported as some infrastructure contracts were delayed due to COVID-19 related restrictions and preventive measures implemented at site. The Juanicipio plant is now expected to reach 40 to 50% of nameplate capacity by the end of 2021 and 90-95% in 2022. In the 2017 PEA, ramp-up to full production was originally envisioned over 3 years after commissioning of the processing plant.

A regularly updated photo gallery of current construction progress at Juanicipio is available at https://magsilver.com/projects/photo-gallery/#photo-gallery.

“As we see great progress on the mechanical installation of the process plant at Juanicipio, the underground mine continues to provide high grade mineralization for treatment at the Fresnillo plant whilst underground production stopes are being configured for higher tonnage later in the year for plant start up” said George Paspalas, President and CEO. “Exploration remains a focus at the Joint Venture as well, and we are looking forward to moving out on the property to test some greenfield targets in addition to Valdecañas. The Phase 1 drilling at Deer Trail is continuing and we are excited about what this may reveal regarding our geological exploration model.”

COVID-19

As noted, according to the operator Fresnillo, the commissioning timetable was deferred a few months to Q4-2021 as some infrastructure contracts were delayed due to COVID-19 related restrictions as well as preventive measures put into place. The further impact of this pandemic could create or include significant COVID-19 specific costs, volatility in the prices for silver and other metals, further restrictions or temporary closures, additional travel constraints, supply chain disruptions and workforce interruptions, including loss of life. Depending on the duration and extent of the impact of COVID-19, this could materially impact the Company’s financial performance, cash flows and financial position, and could result in material changes to the costs and time for the completion of development at Juanicipio. The total amount that the Company is required to finance in order to maintain its proportionate ownership in the project may increase from these and other consequences of the COVID-19 outbreak.

DEER TRAIL PROJECT UPDATE

With drill roads completed and drill pads fully permitted, the 6,500-metre Phase I surface drilling program commenced in November 2020 and is currently in process, approximately 50% complete with all assays pending. The Phase I drilling priorities include: determining the depth to the thick section of high-potential limestone host formations known regionally to lie just below the comparatively unfavorable host rocks of the Deer Trail mine; tracing the known steeply-dipping feeder structures to depth into these limestones; and, locating massive sulfide mineralization controlled by the above.

Qualified Person: Dr. Peter Megaw, Ph.D., C.P.G., has acted as the Qualified Person as defined in National Instrument 43-101 for this disclosure and supervised the preparation of the technical information in this release. Dr. Megaw has a Ph.D. in geology and more than 38 years of relevant experience focused on ore deposit exploration worldwide. He is a Certified Professional Geologist (CPG 10227) by the American Institute of Professional Geologists and an Arizona Registered Geologist (ARG 21613). Dr. Megaw is not independent as he is Chief Exploration Officer and a Shareholder of MAG.

FINANCIAL RESULTS – YEAR ENDED DECEMBER 31, 2020

As at December 31, 2020, the Company had working capital of $94,513 (December 31, 2019: $71,858) including cash and cash equivalents of $94,008 (December 31, 2019: $72,360) and no long-term debt. The Company makes cash advances to Minera Juanicipio as ‘cash called’ by the operator Fresnillo, based on approved joint venture budgets. In the year ended December 31, 2020, the Company funded advances to Minera Juanicipio, which combined with MAG’s Juanicipio expenditures on its own account, totaled $64,280 (December 31, 2019: $53,545).

The Company’s net loss for year the ended December 31, 2020 amounted to $7,097 (December 31, 2019: $4,426 net loss) or $(0.08)/share (December 31, 2019: $(0.05)/share). MAG recorded a 44% equity income pick-up of $2,214 (December 31, 2019: $1,886) from Minera Juanicipio which included MAG’s 44% share of net income from the sale of pre-production development material (see Table 2 below). Share based payment expense, a non-cash item, recorded in the year ended December 31, 2020 amounted to $3,122 (December 31, 2019: $2,572), and is determined based on the fair value of equity incentives granted and vesting in the year.

Table 2: MAG’s equity pick-up from Minera Juanicipio

Shareholders may receive, upon request and free of charge, a hard copy of the Company’s Audited Financial Statements. The Company’s 40-F has also been filed with the United States Securities and Exchange Commission.

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

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

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

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

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

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

Silver Bear Resources Plc ("Silver Bear" or the "Company") (TSX: SBR) announces the filing of its audited financial results for the year ended 31 December 2020 today, including development highlights from its Mangazeisky silver project in Far East Russia.

For complete details of the audited Consolidated Financial Statements and associated Management’s Discussion and Analysis and its Annual Information Form, please refer to the Company’s filings on SEDAR (www.sedar.com) or the Company’s website (www.silverbearresources.com).

2020 HIGHLIGHTS

During the year ended 31 December 2020 the Group production statistics included:

• Mined a total of 114,877 tonnes of ore, processed 109,460 tonnes of ore at an average grade of 640 g/t of silver, producing a total of 1,917,360 ounces of silver;

• Sold a total of 1,937,158 ounces of silver totaling revenue of US$38,796,691 and reported a total comprehensive loss of $31,310,251 and an accumulated deficit of $219,298,504.

During 2020, the Group consistently worked to improve overall efficiency of its processing line:

• During the year, the Group successfully completed its winter road resupply that included the XRT processing line equipment delivery.

• In Q1 2020, the Group continued implementing cost reductions in its corporate structure and services, reagent consumption and fuel and energy costs at its Mangazeisky Silver Project.

• In May 2020, the Group announced a further amendment to its Facilities Agreement with major shareholders Inflection and Aterra, who agreed to a further reduction in interest payable on all funds drawn under the facilities agreement from 9% to 7% per annum.

• In late May 2020, the CEO stated that despite the initial delay in the final commissioning of the new XRT processing equipment due to government-mandated COVID-19 restrictions, the consultants, following a prescribed quarantine period, have completed the commissioning. The XRT equipment is now fully operational.

• On 22 June 2020, the Group announced the receipt of the draft report from Wardell Armstrong International (Moscow) ("WAI") that provided a review of the Company’s current mineral resources ("Draft WAI Report"), following which the decision to withdraw its August 2017 NI 43-101 technical report on the Vertikalny feasibility study and Mangazeisky pre-feasibility study (full details are described below).

• In August 2020, the Group has started its 2020 exploration drilling activities, approximately 4,000 metres of core drilling is expected to test both flanks of Vertikalny deposit where previous work has identified possible additional resources, to further test the Porfirovy deposit to the south and also additional infill drilling at the Mangazeisky North resource; and

• 31 December 2020, the Group further amended its existing Facilities Agreement major shareholders Aterra and Inflection, extending the maturity dates of certain components of Tranches F, G, H and I, issued by Inflection from 31 July 2021 and 20 September 2022, as applicable, to 1 January 2023.

SUBSEQUENT TO THE YEAR END 2020 HIGHLIGHTS

• In the first quarter 2021, the Group entered into a loan agreement with SKA ASSETS MANAGEMENT LIMITED, a company under common control with Inflection, in the amount of RUB 750,000,000 (equivalent to approximately C$12,000,000) with an interest rate of 8.27% per annum, which interest shall accrue on a monthly basis. The Principal will be due and payable on 31 December 2021.

• On 30 March 2021, the Group announced the filing of the final WAI NI 43-101 technical report titled "Mangazeisky Silver Project MRE Update and Strategy Re-assessment, Republic of Sakha (Yakutia), Russian Federation" (the "Final WAI Report"). For full details on the Final WAI Report please see the Operations section below.

• As of the date of this report, the Group confirms there have been no major disruptions at either sites or to the Group’s planned production and operations due to the COVID-19 pandemic.

Vadim Ilchuk, President and CEO, commented: "I would like to thank the determination and commitment of our Prognoz team and the support of our major shareholders for helping us achieve a full year of commercial production, where we produced a record 1.9 M ounces of Silver, despite the World Health Organization declaring COVID-19 a global pandemic in March 2020. Going forward the Company is focussing on completing the placement of the equipment into the processing circuit and beginning the new flotation line construction and commissioning to be ready to process the sulphide ores in early 2022."

Operational & Financial Results Summary – Year 2020

The Group achieved first pre-commercial silver production in April 2018 through its commissioning activities and achieved commercial production at the beginning of the third quarter of 2019. The table below details the production highlights for full year ended 31 December 2020 and 2019.

Production Highlights

During 2020, the Group mined 2.8% less ore compared to 2019, as it moved deeper into Vertikalny open pit and further open pit extension required. Mining head grade reduced from 2019 by 4.2%, however recoveries increased by 11.9% as a result of several factors notably the full year of operating the Merrill Crowe process (a separation technique) at the end of the technological processing circuit and the operational efficiencies implemented during the year. The 22% improvement in the silver production in 2020 over 2019, is primarily due to the achieving high recovery rate from processed ore. As a result, the Group’s 2020 revenues increased by 53% compared to prior year, due to increased silver recovery and the improvement of the average price of silver in 2020.

During the first quarter, the Group’s 2020 winter road procurement and transportation delivered approximately 14,000 tonnes of supplies, including a new drill rig, excavator and the new XRT processing equipment. The winter road was closed on 30^th of April this year, by which time delivery of all the Group’s summer demand for gas condensate and diesel fuel had been accomplished. Deliveries for the summer and fall months are now via cargo flights using the Group’s newly completed airstrip.

During the second quarter, in May 2020, following a prescribed quarantine period, the XRT consultants arrived at site and completed the final commissioning. The XRT equipment is now fully operational. The flotation facility construction project design development phase was completed in the second quarter.

During the third quarter, the Group began the construction on the foundation for the new flotation plant, that is designed to process the primary sulphide ores at the Vertikalny deeper pit and underground mining operations. It is expected that the new flotation plant will be completed in early 2022.

As of the date of this report there are approximately 226 Prognoz employees at site. There are also 64 contractors, namely catering, process consultants, and construction workers. As of 31 December 2020, there was no lost time recorded accident at site.

About Silver Bear

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

Cautionary Notes

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20210331005962/en/

Contacts

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

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

VANCOUVER, BC, March 31, 2021 /CNW/ – Trading resumes in:

Company: Aton Resources Inc.

TSX-Venture Symbol: AAN

All Issues: Yes

Resumption (ET): 3:30 PM

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

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

View original content: http://www.newswire.ca/en/releases/archive/March2021/31/c7784.html

MISSISSAUGA, Ontario, March 31, 2021 (GLOBE NEWSWIRE) — Canada Carbon Inc. (the “Company”) (TSX-V: CCB), (FF:U7N1) announces that a hearing was held on March 30, 2021, at the Superior Court to hear Grenville-sur-la-rouge’s (“GSLR”) application to have the Commission de la protection du territoire agricole du Quebec (“CPTAQ”) hearings suspended and postponed. The Court rejected GSLR’s demand. Accordingly, the CPTAQ hearings will proceed on March 31 and April 1, 2021, as scheduled.

Yesterday, Canada Carbon was informed that GSLR has filed another legal proceeding against the Company and the CPTAQ with the Superior Court. GSLR is asking the Court to rule on the interpretation of Sections 16, 18 and 19 of the Settlement Agreement between Canada Carbon, GSLR and CPTAQ signed in February 2020, as the municipality believes, based on their interpretation of these sections, that Canada Carbon is in breach of the Settlement Agreement based on its refusal to allow drilling on the Miller Property.

The Settlement Agreement that was signed in February 2020 had two key paragraphs at issue in this proceeding.

• Section 18 states that, “GSLR and CCB agree to enter into a dialogue on the Miller Project and to put forward a process for that purpose with the assistance of the MERN, to the extent that the MERN agrees to act in that capacity.”

• Section 19 states that, “As part of this process, CCB agrees to collaborate with GSLR in the conduct of any study that GSLR may require, if necessary, on the recommendation of a professional under the Professional Code, in order to enable it to understand, analyze or participate in improving the Miller Project in terms of its social acceptability.”

As stated in the press release of March 26, 2021, the Company feels GSLR is interpreting Section 19 in isolation despite the fact that it is clear from the language and intent of Article 18, that dialogue and protocols are required beforehand. The purpose of these two sections was to ensure that, through dialogue, both parties would jointly determine what additional analysis would be required and that the collection of this additional information would be done jointly by both parties on a scientific, efficient and transparent basis.

Management of Canada Carbon and the GSLR municipality have not had a constructive dialogue regarding the Miller Project since the new council took office in November 2017, despite repeated requests by the Company to do so. CCB management does not consider its exchanges with GSLR’s legal counsel to be constructive dialogue, as intended in the Settlement Agreement. “We regret the impact that GSLR’s approach to using legal avenues to block the Miller project is having on the citizens of the Municipality and the shareholders of the Company. Significant amounts of money are being spent by both parties on legal fees that would not be necessary if only the current GSLR councilors would engage in dialogue,” said Olga Nikitovic, Interim Chief Executive Officer.

While Canada Carbon does not wish to pursue legal action and would prefer to sit down and have dialogue, the Company knows that it has respected and adhered to all aspects of the Settlement Agreement reached in February 2020 and is very confident in its position for this new legal proceeding.

For further information:
Olga Nikitovic
Interim CEO
Canada Carbon Inc.
info@canadacarbon.com

Valerie Pomerleau
Director Public Affairs and Communications
Canada Carbon Inc.
vpomerleau@canadacarbon.com
(819) 856-5678

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

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

CALGARY, AB, March 31, 2021 /CNW/ – Uravan Minerals Inc. (TSXV: UVN) ("Uravan") announces the termination of the Halliday-Stewardson Joint Venture with Cameco Corporation ("Cameco") (the "H-S JV"). Due to Uravan's current financial constraints, weak spot natural uranium prices and lack of access to financial markets or other sources of financing, Uravan determined it is in the best interest of its shareholders to withdraw its participation in the H-S JV. This will result in Cameco being the sole participant in the H-S JV, thereby retaining all the interest in the mineral dispositions making up the Halliday – Stewardson properties (the "Claims").

Effective upon Uravan's withdrawal from the H-S JV, and under the terms of a termination agreement, Cameco agrees to indemnify and save harmless Uravan and its successors, assigns, affiliates, directors, officers, employees, and agents from any liabilities and obligations that may be related to past H-S JV operations. Further, Cameco shall grant Uravan a 1% Net Smelter Return royalty on the Claims.

Uravan will continue to pursue and evaluate other businesses and strategic opportunities, both within and outside the mineral exploration industry, to include mergers and RTO arrangements and will make further announcements with respect to these efforts in due course.

Cautionary Statement
This press release may contain forward looking statements including those describing Uravan's plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, much of which are beyond the control of Uravan and its management. This news release contains forward-looking statements pertaining. Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. These statements speak only as of the date of this release or as of the date specified in the documents accompanying this release. The Corporation undertakes no obligation to publicly update or revise any forward-looking statements except as expressly required by applicable securities laws.

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

SOURCE Uravan Minerals Inc.

View original content: http://www.newswire.ca/en/releases/archive/March2021/31/c3391.html

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

What Is Insider Selling?

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

We would never suggest that investors should base their decisions solely on what the directors of a company have been doing. But logic dictates you should pay some attention to whether insiders are buying or selling shares. For example, a Harvard University study found that 'insider purchases earn abnormal returns of more than 6% per year'.

Check out our latest analysis for GTI Resources

The Last 12 Months Of Insider Transactions At GTI Resources

The insider Tolga Kumova made the biggest insider purchase in the last 12 months. That single transaction was for AU$149k worth of shares at a price of AU$0.01 each. Even though the purchase was made at a significantly lower price than the recent price (AU$0.022), we still think insider buying is a positive. Because the shares were purchased at a lower price, this particular buy doesn't tell us much about how insiders feel about the current share price.

You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!

There are always plenty of stocks that insiders are buying. So if that suits your style you could check each stock one by one or you could take a look at this free list of companies. (Hint: insiders have been buying them).

Insider Ownership of GTI Resources

Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. We usually like to see fairly high levels of insider ownership. It appears that GTI Resources insiders own 24% of the company, worth about AU$3.6m. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.

So What Do The GTI Resources Insider Transactions Indicate?

The fact that there have been no GTI Resources insider transactions recently certainly doesn't bother us. But insiders have shown more of an appetite for the stock, over the last year. Overall we don't see anything to make us think GTI Resources insiders are doubting the company, and they do own shares. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing GTI Resources. To that end, you should learn about the 5 warning signs we've spotted with GTI Resources (including 1 which can't be ignored).

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

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

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

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

Highlights:

• Measured and Indicated uranium resources increased to 10.77 million pounds U₃O₈ from 4.73 million pounds U₃O₈ (128% increase)

• Measured and Indicated in-situ recovery ("ISR") uranium resources total 7.71 million pounds U₃O₈ (72% of overall Measured and Indicated resources)

  • Average U₃O₈ grade of 0.101%

• Maiden ISR resource estimate achieves significant grade and scale and supports further advancement of the project

• Preliminary economic assessment to be undertaken; strong potential for our Gas Hills Project to become a significant satellite deposit to our flagship Dewey Burdock Project

WHITE ROCK, BC / ACCESSWIRE / March 30, 2021 / AZARGA URANIUM CORP. (TSX:AZZ)(OTCQB:AZZUF)(FRA:P8AA) ("Azarga Uranium" or the "Company") is pleased to announce that the Company has completed an updated National Instrument 43-101 ("NI 43-101") resource estimate for its Gas Hills Uranium Project in Wyoming (the "Gas Hills Project") following the identification of additional uranium mineralization as previously disclosed by the Company.

Blake Steele, Azarga Uranium's President and CEO stated: "We are extremely pleased with the results of our Gas Hills Project resource update. The scale and confidence of our ISR amenable Gas Hills Project resource estimate has established it as a significant deposit in the USA. We have conducted numerous hydrology studies on our Gas Hills Project, and they have all confirmed that the resources located below the water table are ideally suited to ISR mining techniques."

Steele also noted, "The Gas Hills region is a prolific uranium district with approximately 100 million pounds of past production. Industry leader, Cameco Corporation, owns a permitted ISR uranium project within this district. We look forward to completing a preliminary economic assessment for our Gas Hills Project and evaluating its potential as a standalone deposit as well as a significant satellite deposit to the Company's flagship Dewey Burdock Project. Utilization of planned infrastructure at our Dewey Burdock Project also has the potential to considerably reduce the capital cost profile of our Gas Hills Project."

Updated Mineral Resource Estimate – 29 March 2021

Note: Mineral resources that are not mineral reserves do not have demonstrated economic viability.

Note: Mineral resources that are not mineral reserves do not have demonstrated economic viability.

Both the ISR and non-ISR resources were determined using the GT contour method and met the following criteria:

1. 0.02 percent grade cutoff;

2. Occur within the same mineral horizon (roll front);

3. Fall within the 0.10 GT contour; and

4. Extend no farther from the drill hole than the radius of influence specified for each category, i.e., measured, indicated or inferred.

In addition, ISR resources that fall within the 0.20 GT contour have also been estimated in the table below (all other calculation criteria are the same as noted above):

Note: Mineral resources that are not mineral reserves do not have demonstrated economic viability.

The NI 43-101 resource estimate was prepared by Roughstock Mining Services ("Roughstock"), Steve Cutler, P.G., a Qualified Person ("QP"). The full technical report will be filed on SEDAR at www.sedar.com and Azarga Uranium's website www.azargauranium.com within 45 days of the issuance of this news release.

Data Verification

An overall assessment of the data used for the classification of resources into various categories is required by the CIM Definition Standards. This assessment showed that historical data gathering and interpretation of the data was conducted by a well-respected, major uranium exploration company with high-quality uranium exploration staff. It also showed that at key points, professional geologic consultants reviewed and verified the results of the historic exploration programs. Numerous academic reports have also been published on geologic settings and uranium mineralization of the Gas Hills Project.

Interpretive geologic evaluation has also been completed under the direction of the Company's senior geologic staff. All these factors provide a high level of confidence in the geological information available on the mineral deposit and that historic drillhole data on the Gas Hills Project is accurate and useable for continued evaluation of the project.

There are no known discrepancies in locations, depths, thicknesses, or grades that would render the project data questionable. The QP has adequately verified the historical data for the Gas Hills Project. The QP has reviewed the data confirmation procedures and concludes that the drillhole database has been sufficiently verified and is adequate for use in resource estimation. The QP concludes the work done by Azarga Uranium to verify the historical records has validated the project information in the updated resource estimate.

Qualified Person

The disclosure of a scientific and technical nature contained in this press release was approved by Steve Cutler, P.G., a qualified person as that term is defined under NI 43-101.

About Azarga Uranium Corp.

Azarga Uranium is an integrated uranium exploration and development company that controls ten uranium projects and prospects in the United States of America ("USA") (South Dakota, Wyoming, Utah and Colorado), with a primary focus of developing in-situ recovery uranium projects. The Dewey Burdock in-situ recovery uranium project in South Dakota, USA (the "Dewey Burdock Project"), which is the Company's initial development priority, has been issued its Nuclear Regulatory Commission License and final Class III and Class V Underground Injection Control permits from the Environmental Protection Agency and the Company is in the process of completing regulatory permit approvals necessary for the construction of the Dewey Burdock Project.

For more information please visit www.azargauranium.com.

Follow us on Twitter at @AzargaUranium.

For further information, please contact:

Blake Steele, President and CEO
+1 303 790-7528
E-mail: info@azargauranium.com

Disclaimer for Forward-Looking Information

Certain information and statements in this news release may be considered forward-looking information or forward-looking statements for purposes of applicable securities laws (collectively, "forward-looking statements"), which reflect the expectations of management regarding its disclosure and amendments thereto. Forward-looking statements consist of information or statements that are not purely historical, including any information or statements regarding beliefs, plans, expectations or intentions regarding the future. Such information or statements may include, but are not limited to, statements with respect to the Company undertaking and completing a preliminary economic assessment evaluating the Gas Hills Project's potential as a standalone deposit as well as a significant satellite deposit to the Company's flagship Dewey Burdock Project, there being a strong potential for the Company's Gas Hills Project to become a significant satellite deposit to the Company's flagship Dewey Burdock Project, that the resources at the Gas Hills Project located below the water table are ideally suited to ISR mining techniques, the Company's utilization of planned infrastructure at its Dewey Burdock Project also having the potential to considerably reduce the capital cost profile of its Gas Hills Project and the Company being in the process of completing regulatory permit approvals necessary for the construction of the Dewey Burdock Project. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Azarga Uranium will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including without limitation: the risk that the Company does not undertake or complete a preliminary economic assessment evaluating the Gas Hills Project's potential as either or both a standalone deposit and a significant satellite deposit to the Company's flagship Dewey Burdock Project, the risk that the Company's Gas Hills Project does not become a significant satellite deposit to the Company's flagship Dewey Burdock Project, the risk that the resources at the Gas Hills Project located below the water table are not ideally suited to ISR mining techniques, the risk that the Company's utilization of planned infrastructure at its Dewey Burdock Project does not considerably, or at all, reduce the capital cost profile of its Gas Hills Project, the risk that the Company does not complete regulatory permit approvals necessary for the construction of the Dewey Burdock Project, the risk that such statements may prove to be inaccurate and other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and, except as required by applicable securities laws, Azarga Uranium assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements. Additional information about these and other assumptions, risks and uncertainties are set out in the "Risks and Uncertainties" section in the most recent AIF filed with Canadian security regulators.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.

SOURCE: Azarga Uranium Corp.

View source version on accesswire.com:
https://www.accesswire.com/638029/Azarga-Uranium-Increases-Measured-and-Indicated-Resources-by-128-for-Gas-Hills-Uranium-Project

OTTAWA, ON, March 30, 2021 /CNW/ – Northern Shield Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to provide an update on the Root & Cellar Gold-Silver Property (the "Property") in Newfoundland. The Company can earn a 100% interest in the Property which is being explored for epithermal gold-silver mineralization.

The Company has increased the size of Root & Cellar Gold-Silver Property through staking from 30 square kilometres (when it acquired an option on the Property in 2019) to over 224 square kilometres (Figure 1), spread over three claim blocks. Approximately 50% of the total claims are owned 100% by Northern Shield, the remainder are subject to the Root & Cellar Option Agreement (press release May 19, 2020). In total, the claims cover a 30 kilometre strike-length of a district scale structure that hosts the Drop Zone with up to 45 g/t Au and 1,360 g/t Ag, (see press release May 21, 2019), the recently discovered Windfall Zone with up to 17 g/t Au and 53 g/t Ag, (see press release January 30, 2021) and the Braxton-Bradley Showing with up to 2.3 g/t Au and 137 g/t Ag, 1.9% Zn and 1.7% Cu (see press release May 21, 2019). Two additional parallel structures, totalling a further 25 kilometres, that host gold anomalous till and lake sediment samples previously collected as part of government surveys, were also staked.

"The driving force behind this significant increase in the Property was the continued discovery of high-grade gold and silver within the Property based on last years fieldwork, in particular the discovery at Windfall. The Windfall mineralization is related to an ENE trending fault zone and is exposed over a 200 metre thickness at this point. The Drop Zone and Braxton-Bradley showings are located along the same structure and have similar geochemical signatures. Many of the gold anomalous soil samples collected by Northern Shield last year, also fall along these structures (Figure 2). It is quite clear from our own soil samples and from the prospector's past work following up on regional, government collected till samples, that gold anomalous soil and till samples are generally a reliable indicator of nearby gold in bedrock."

Ian Bliss – President & CEO

Line-cutters will be mobilized next week to the Property to prepare a grid for ground geophysics (Spectral IP/Resistivity) which is anticipated to commence at the end of April. If snow melt allows, prospecting will also commence along the structure within the new claims and to follow up on distinct gold soil anomalies along the structure within the original Property boundary.

Shot Rock
The fourth hole is underway at Shot Rock with the program approximately halfway through the planned meterage.

The press release was reviewed by Christine Vaillancourt, P. Geo., the Company's Chief Geologist and a Qualified Person under National Instrument 43-101.

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

Forward-Looking Statements Advisory

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

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

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

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

SOURCE Northern Shield Resources Inc.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2021/30/c1381.html

Silver Bear Resources Plc ("Silver Bear" or the "Company") (TSX: SBR) announces that it has now received the final report from Wardell Armstrong International ("WAI") that provides a review of the Company’s current mineral resources, as well as revised mine and processing plans, for its Vertikalny and Mangazeisky North deposits. Today, the Company also filed on SEDAR the final technical report that was prepared in accordance with National Instrument 43-101 ("WAI Technical Report").

On the basis of the final WAI Technical Report, in comparison to the previous mineral resource estimate performed by Tetra Tech (UK) and last filed on SEDAR in August 2017 and further updated in press release dated 21 December 2017, the Company noted that the following changes to the mineral resource statements:

• Vertikalny open pit measured and indicated resource at a 200 g/t Ag cut-off grade is reduced by about 3% of the silver grade and 29% of tonnes, taking into account the total mined-out tonnes as of May 2019;

• Vertikalny underground measured and indicated resource at a 300 g/t Ag cut-off grade to be decreased by 24% of the silver grade and the tonnes by 56% due to adjustment of open pit/underground optimisation parameters and/or re-interpretation of the mineralisation; and

• Mangazeisky North measured and indicated resources at a 200 g/t Ag cut-off grade is downgraded to inferred largely due to a lack of definition of ore types on the deposit supported by testwork. Contained in-situ silver for Mangazeisky deposit as a whole is reduced by 28% although the average silver grade is increased by 14%. This is due to application of constraining wireframes and search parameters more appropriate to the style of mineralization. While the new model is expected to be more conservative in terms of ore tonnes it will provide better consistency in distribution of silver grade and hence the grade increase.

Vadim Ilchuk, President and Chief Executive Officer, commented, "The WAI Technical Report describes our evolving comprehension of our resources. It has become apparent during the ramp-up to commercial production that the Vertikalny measured and indicated resource grade and tonnage were not fully realized in the ore that was mined and processed. Accordingly, the Company and team implemented many cost, processing and mining optimisations to offset the deficit, including reduction in the Company’s corporate structure and services, reduction in reagent consumption, fuel and energy costs savings, implementation of the Merrill Crowe process, in-house blasting and drilling work and adding the X-Ray transmission processing technology to our processing line. Notable too is our continued exploration program, where budgets allow, of the many targets we have within the Mangazeisky licence."

Vertikalny Deposit Mineral Resource Estimate

The Mineral Resource Estimate was carried out with a 3D block modelling approach using Datamine Studio RM software. The effective date of the Mineral Resource Estimate is the 31 May 2019, the date of the limiting mine survey. In the opinion of WAI, the Mineral Resource Estimate reported herein is a reasonable representation of the mineral resources found in the Vertikalny Silver Project based on the current level of sampling. The two tables below detail the Vertikalny Open Pit Mineral Resource Estimate representing a cut-off grade of 200 g/t Ag and the Vertikalny Underground Mineral Resource Estimate representing a cut-off grade of 300 g/t Ag respectively.

Mangazeisky North Deposit Mineral Resource Estimate

The Mineral Resource Estimate was carried out with a 3D block modelling approach using Datamine Studio RM software. The effective date of the Mineral Resource Estimate is the 31 May 2019. In the opinion of WAI, the Mineral Resource Estimate reported herein is a reasonable representation of the mineral resources found in the Mangazeisky North Silver Project based on the current level of sampling.

The following table details the mineral resource estimate for the Mangazeisky North Project for the Open Pit resources.

Notes:

1. Mineral Resources are reported in accordance with the guidelines of the JORC Code (2012).

2. Mineral Resources are not Ore Reserves until they have demonstrated economic viability based on a feasibility study or pre-feasibility study.

3. Mineral resources include all potential mineable tonnage.

4. Mineral Resources are estimated as of 31 May 2019.

5. Mineral Resources were constrained by conceptual optimum pit contours using NSR of $139.06/t for primary mineralisation.

6. All values in the tables have been rounded with relative accuracy of estimate. Numbers may not compute due to rounding.

7. Mineral Resources were constrained by an optimum pit shell based on the corresponding economic and mining parameters provided by the Client and/or accepted by WAI

8. The Northern Mangazeisky mineral resources were estimated in accordance with the guidelines of the JORC Code (2012) by Steven McRobbie, Independent Competent Person as defined by the JORC Code.

9. This mineral resource estimate is not limited to any factors in terms of environmental, permitting, legal, title, taxation, socio-economic, market and other relevant factors.

10. The metal resources include all the in-situ metal disregard the metallurgical recovery factor.

Financial Analysis

Preliminary Economic Assessment of the Mangazeisky project has resulted in a positive NPV at various discount rates. The Project is mostly sensitive to changes in Silver prices. Break-even price of the Project has been estimated at US$14.11/oz, which is 21% lower than the base case silver price assumption.

Base case NPV @ 8.64% was estimated at US$46.51M (nominal values).

The financial analysis has been performed to reflect valuation as of the end of 2019 and does not include any sunk costs that have been previously invested in the project.

Overall capital cost of the project has been estimated at US$43M, and total operating costs of US$242.7M. The key project performance is shown in the Table below.

Current financial results have been derived from the production schedule that considers oxide material from stockpile No 5 to the amount of approximately 50kt.

Steven James McRobbie BSc (Hons), MSc, ACSM, MAusIMM, of Wardell Armstrong Russia (Moscow), an independent consultant to the Company, is a Qualified Person under National Instrument 43-101 and has reviewed the scientific and technical information in this release.

About Silver Bear

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

Cautionary Notes

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

This release also contains references to estimates of Mineral Resources. The estimation of Mineral Resources is inherently uncertain and involves subjective judgments about many relevant factors. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. The accuracy of any such estimates is a function of the quantity and quality of available data, and of the assumptions made and judgments used in engineering and geological interpretation, which may prove to be unreliable and depend, to a certain extent, upon the analysis of drilling results and statistical inferences that may ultimately prove to be inaccurate. Mineral Resource estimates may have to be re-estimated based on, among other things: (i) fluctuations in silver or other mineral prices; (ii) results of drilling; (iii) results of metallurgical testing and other studies; (iv) changes to proposed mining operations, including dilution; (v) the evaluation of mine plans subsequent to the date of any estimates; and (vi) the possible failure to receive required permits, approvals and licences.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210330005672/en/

Contacts

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

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

VANCOUVER, BC / ACCESSWIRE / March 30, 2021 /Resolve Ventures Inc.("Resolve" or the "Company") (TSXV:RSV) is pleased to announce that it has entered into an Option Agreement (the "Agreement") with Island Time Exploration Ltd, Calderan Ventures Ltd., and Raymond Wladichuk (collectively the "Vendors") to earn a 100% ownership interest in the combined 10,050.4 Ha contiguous Gravity Property and the Jack White Property (collectively the "Gravity Jack Property") located in New Westminster Mining Division, near Boston Bar British Columbia, Canada.

Under the terms of the Agreement, Resolve may acquire a 100% ownership interest in the Gravity Jack Property by issuing to the Vendors an aggregate of one million six hundred thousand (1,600,000) common shares in the capital of Resolve within 5 business days of TSX Venture approval ("TSXV") of the Agreement, completing $200,000 in exploration expenditures on the Gravity Jack Property by August 21, 2021, and, incurring an aggregate of $2,250,000 in additional exploration expenditures and issuing an aggregate of 2,500,000 common shares to the Vendors over a period of four years from the date of the Agreement.

Upon completing the above noted commitments, all of which may be accelerated at the Company's discretion, Resolve will have earned a 100% interest in the Gravity Jack Property, at which time the Vendors will transfer title of the Gravity Jack Property to Resolve. Island Time Exploration Ltd. and Raymond Wladichuk will each retain a 2% net smelter return royalty ("NSR") (4% total) on all future metal production which the Company may, at its sole option, purchase 1% from either of the Vendors for $1,000,000 each.

The Agreement is subject to completing a satisfactory 60-day due diligence review, a National Instrument 43-101 report on the Gravity Jack Property, and the necessary approvals from the TSXV. Any securities issued in connection with the transaction will be subject to applicable statutory hold periods for a period of four months from the date of issuance.

About the Gravity Jack Property
Gravity Jack Property is located in the New Westminster Mining Division, and is approximately 13km northeast of Boston Bar, British Columbia, Canada. The property surface area totals 10,050.4 hectares (Ha). The property is prospective for Scandium, Copper, Gold, Silver, and Tungsten. Historically, minimal work has been done on the property with the exception of high-grade mineral occurrences reported in the 1960's.

About the Company
Resolve is a Vancouver based publicly listed exploration company trading on the TSXV. The Company is led by a highly skilled management and technical team with numerous previous successes in the junior mining sector.

For further information on the Company, visit www.resolveventures.com or call (604) 644-6794.

Qualified Persons
Mr. R. Tim Henneberry, P.Geo., a member of the Company's Advisory Board and registered in the Provinces of British Columbia is the "Qualified Person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and is responsible for the technical contents of this news release and has approved the disclosure of the technical information contained herein.

ON BEHALF OF THE BOARD OF DIRECTORS
"Clive H. Massey"
President & CEO
Office (604) 341-6870

Neither the TSX Venture Exchange nor their 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.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Forward-Looking Statements:
Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions, and expectations; they are no guarantees of future performance. Resolve cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond Resolve's control. Such factors include, among other things: risks and uncertainties relating to Resolve's ability to complete the proposed Transaction; and other risks and uncertainties, including those to be described in the Filing Statement to be filed by Resolve on SEDAR.com. Accordingly, actual, and future events, conditions and results may differ materially from the estimates, beliefs, intentions, and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Resolve undertakes no obligation to publicly update or revise forward-looking information.

ANY SECURITIES REFERRED TO HEREIN WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "1933 ACT"), AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO A U.S. PERSON IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE 1933 ACT.

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

SOURCE: Resolve Ventures Inc.

View source version on accesswire.com:
https://www.accesswire.com/638023/Resolve-Ventures-Inc-Announces-Property-Option-Agreement

VANCOUVER, BC / ACCESSWIRE / March 30, 2021 / Granite Creek Copper Ltd. (TSX.V:GCX)(OTCQB:GCXXF) ("Granite Creek" or the "Company") announces that it has engaged GoldSpot Discoveries Corp. (TSX.V:SPOT) ("GoldSpot") to apply their proprietary machine learning technology and geoscience expertise on the Company's Carmacks & Carmacks North project, located in the high-grade Minto copper district of Canada's Yukon Territory. GoldSpot will work closely with Granite Creek's technical team to analyze geological, geochemical, and geophysical data covering the Company's advanced and early-stage targets, including targeting for the 2021 drill campaign slated to commence in early May.

GoldSpot Discoveries Corp. is a mining-focused technology company that is working with some of the leading exploration and mining names in the industry to apply cutting edge Artificial Intelligence ("AI") algorithms to significantly increase the efficiency and success rate of mineral exploration. Recent successes by GoldSpot with both leading producers and explorer/developers have demonstrated the potential to expand resources and make new discoveries using this advanced analytical technology.

Denis Laviolette, Executive Chairman and President of GoldSpot, stated: "We are extremely pleased to be engaged again by the Metallic Group. Our teams have meshed very well in the ongoing collaboration with Metallic Minerals and Group Ten Metals where our work is already delivering value to these exciting exploration projects. We look forward to building our relationship with Granite Creek and achieving exploration success with them. We are excited to be working on another one of the Metallic Group's exceptional projects in this prolific mining jurisdiction that has tremendous blue sky."

Tim Johnson, President and CEO of Granite Creek Copper, commented: "We look forward to working with the GoldSpot team on Granite Creek's Carmacks and Carmacks North project. GoldSpot's innovative AI techniques are particularly relevant as we have numerous multi-kilometer target areas across a 176 square kilometer highly prospective land package, with an extensive exploration database. Their work, in tandem with our technical team's extensive knowledge of the Minto Copper Belt will allow us to quickly refine and prioritize existing exploration targets while driving new discoveries in less explored areas of this prolific, high grade copper district. We look forward to providing more comprehensive updates and further information as we start to receive results from our on-going programs and begin our work with GoldSpot."

The Company also wishes to clarify the certain details regarding the completion of its private placement. A total of 5,000,000 flow-through shares were issued at a price of $0.28 per share, 10,075,000 non flow-through units were issued at a price of $0.20 per unit and 8,183,181 flow-through shares were issued at a price of $0.22 per share. Finder's fees totaling $314,438 cash, 150,000 shares, 1,124,581 finder's warrants and 175,000 compensation options were paid. All shares are subject to a hold period of four months and one day from the date of issuance, in accordance with applicable securities laws and the policies of the TSX-V. The private placement remains subject to the final approval of the TSX-Venture Exchange.

About Granite Creek Copper

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

FOR FURTHER INFORMATION PLEASE CONTACT:

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

Forward-Looking Statements

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

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

SOURCE: Granite Creek Copper Ltd.

View source version on accesswire.com:
https://www.accesswire.com/638077/Granite-Creek-Engages-GoldSpot-Discoveries-to-Apply-AI-Exploration-Technologies-at-the-CarmacksCarmacks-North-Project-in-Yukon-Canada

TORONTO, March 30, 2021 (GLOBE NEWSWIRE) — Stroud Resources Ltd. (TSXV-SDR) (“Stroud” or the “Company”) confirms that a diamond drill rig will be on site as of April 8, 2021 at its Santo Domingo Silver Property (“Santo Domingo” or the “Property”), following earlier delays. The current demand for drilling services in Jalisco affected the previously arranged drill contractor’s ability to disengage from a previous contract.

With the new drilling contract in place, the Company will initiate Phase I of the drilling program consisting of approximately 3,000 metres of drilling comprising 12 drill holes.

The Company is also pleased to announce it will be adding a second drill at the site to initiate Phase II of the drilling program which will consist of an additional 38 drill holes. The Company intends to complete both drilling programs by summer.

The Company’s Drilling Permit covers 13 drill pad locations encompassing 50 planned drill holes across the Property. The first phase of the drilling program will see 12 drill holes completed on three of the drill sites. These are expected to confirm our current geological and mineral resource modelling of the Property. Interpretations from geological modelling of Santo Domingo had identified additional mineralized zones running parallel to the previously announced Mineral Resource Estimate.

The current planned drilling program will also probe deeper into the hillside to sample silver vein mineralization beyond where historical Spanish miners were active in mining bonanza grade silver. It is our expectation that the grades of silver and gold in these zones should be higher as they have never been accessed historically. The Company expects to prepare a new National Instrument 43-101 (“NI 43-101”) Technical Report and a Preliminary Economic Assessment (“PEA”) following the completion of the two phases of drilling.

Dr. Derek McBride, P. Eng. is the qualified person as defined by National Instrument 43-101 and is responsible for the technical information of this news release.

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 news release.

About Stroud Resources Ltd.
Stroud Resources is a TSXV listed company focused on the exploration and development of its Santo Domingo epithermal silver-gold project in central Mexico.

For more information, please visit www.stroudsilver.com or contact Mirsad Jakubovic, Chief Financial Officer, Stroud Resources Ltd., Tel: (416) 888-8731, mirsad@cpamba.ca

VANCOUVER, BC, March 30, 2021 /CNW/ – Trading resumes in:

Company: Kermode Resources Ltd.

TSX-Venture Symbol: KLM

All Issues: No

Resumption (ET): 9:30 3/31/2021

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

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

View original content: http://www.newswire.ca/en/releases/archive/March2021/30/c3026.html

Toronto, Ontario–(Newsfile Corp. – March 29, 2021) – Crown Mining Corporation (TSXV: CWM) (FSE: C73) ("Crown" or the "Company") announces that at the Company's Annual General and Special Meeting of Shareholders ("AGSM"), held on March 29, 2021, shareholders approved a special resolution to change the name of the Company to US Copper Corp. A total of 18,556,471 common shares were represented in person or by proxy at the AGSM, representing 20.05% of the votes attached to all outstanding common shares of the Company as at the record date. All the matters submitted to the shareholders, as set out in the Notice of Meeting and Information Circular dated February 22, 2021, were voted in favour, including fixing the size of the Board of the Company to six, the ratification of the Company's 10% rolling stock option plan and the appointment of A Chan & Company LLP, Chartered Professional Accountants, as the auditors of the Company for the ensuing year.

Messrs. Dunn, Vydra, Morrow, Cole, and Fairbairn were re-elected to serve as directors of the Company. Norm Yurik was also elected to act as a new director of the Company, replacing Stephen Hughes who did not stand for re-election. The detailed results of the vote are set out below:

Mr Yurik is a CPA and recently retired tax partner at Deloitte LLP. While at Deloitte LLP, he led the Merger and Acquisition Group in British Columbia, and was responsible for tax planning with both public companies and high net worth individuals.

"We are very pleased to welcome Mr. Yurik to the Crown team," commented Mr. Dunn, President, CEO of Crown. "Norm's extensive knowledge in tax, mergers and acquisitions and corporate governance will greatly assist Crown as we move the company forward. I would also like to sincerely thank Mr Hughes for his contribution and service as a Director. Personally, and on behalf of the Board of Directors, I wish him all the best in his future endeavours."

With the shareholders approving the special resolution to change the name of the Company to US Copper Corp, the Company will now seek the necessary regulatory approvals to complete this name and symbol change and expects the process to be completed in the next few weeks. Our shares will continue to trade under our existing ticker symbols on the TSX Venture Exchange until the US Copper Corp ticker symbol "USCU" becomes effective. The Company will continue to update its shareholders as the name and ticker symbol change progresses.

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, Crown Mining Corporation (416) 361-2827 or email info@crownminingcorp.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/78835

Even if it's not a huge purchase, we think it was good to see that Michael Ruane, the Executive Director of Reward Minerals Limited (ASX:RWD) recently shelled out AU$69k to buy stock, at AU$0.14 per share. Although the purchase is not a big one, increasing their shareholding by only 2.2%, it can be interpreted as a good sign.

View our latest analysis for Reward Minerals

Reward Minerals Insider Transactions Over The Last Year

In fact, the recent purchase by Executive Director Michael Ruane was not their only acquisition of Reward Minerals shares this year. Earlier in the year, they paid AU$0.14 per share in a AU$434k purchase. That means that even when the share price was higher than AU$0.14 (the recent price), an insider wanted to purchase shares. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. In our view, the price an insider pays for shares is very important. Generally speaking, it catches our eye when insiders have purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price. We note that Michael Ruane was also the biggest seller.

In the last twelve months insiders purchased 4.14m shares for AU$590k. But insiders sold 3.06m shares worth AU$430k. In the last twelve months there was more buying than selling by Reward Minerals insiders. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!

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

Insider Ownership of Reward Minerals

For a common shareholder, it is worth checking how many shares are held by company insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. It appears that Reward Minerals insiders own 19% of the company, worth about AU$5.2m. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.

So What Does This Data Suggest About Reward Minerals Insiders?

It's certainly positive to see the recent insider purchase. And an analysis of the transactions over the last year also gives us confidence. However, we note that the company didn't make a profit over the last twelve months, which makes us cautious. Insiders likely see value in Reward Minerals shares, given these transactions (along with notable insider ownership of the company). So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. When we did our research, we found 5 warning signs for Reward Minerals (2 shouldn't be ignored!) that we believe deserve your full attention.

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

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

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

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

Company Executives share vision and answer questions live at VirtualInvestorConferences.com

NEW YORK, March 26, 2021 /CNW/ – Virtual Investor Conferences, the leading proprietary investor conference series, today announced the agenda for the upcoming Extractive Industry Investment Options Conference on March 30^th & 31^st. Individual investors, institutional investors, advisors, and analysts are invited to listen to the executive management of global metals & mining companies discuss their property positions, development schedules, market opportunity, and investment highlights. This free conference features presentations and speakers who will address worldwide extractive industry investment opportunities. Participating companies will encompass exploration, development, and production of precious, critical, base, REEs, and strategic metals and materials. The program opens at 9:15 AM ET, with the first webcast at 9:30 AM ET on Tuesday, March 30^th.

REGISTER NOW AT: https://bit.ly/3cdLLnP

It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates. There is no cost to log-in, attend live presentations or ask questions.

"OTC Markets is proud to host our inaugural two-day Extractive Industry Investment Opportunities conference co-sponsored by Murdock Capital and TAA Advisory, said Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group. We are pleased to deliver a visibility solution that allows today's industrial mineral leaders to showcase their strategies to a broader investor base. We welcome the contributions of our keynotes and presenters: Christopher Ecclestone, Mining Strategist, Hallgarten & Co; Jeffrey M. Christian, Managing Partner, CPM Group; Jack Lifton, Founder, Technology Metals Research, and Phillps S. Baker, Jr. President & CEO of Hecla Mining Company for this signature event."

"On behalf of TAA Advisory and Murdock Capital we think this two day event nicely focuses on a fine mix of critical metals companies, on day one, and precious metals companies, on day two – Two key sectors of great interest to many today. We welcome all to listen in and get your questions answered," said Thomas Dean, Co-Founder and President of Murdock Capital.

March 30^th Agenda:

March 31^st Agenda:

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

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

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

SOURCE VirtualInvestorConferences.com

View original content: http://www.newswire.ca/en/releases/archive/March2021/26/c7113.html

MISSISSAUGA, Ontario, March 26, 2021 (GLOBE NEWSWIRE) — Canada Carbon Inc. (the “Company”) (TSX-V: CCB) announces that Grenville-sur-la-Rouge (“GSLR”) and the MRC d'Argenteuil (“MRC”) both submitted requests to the Commission de la protection du territoire agricole du Québec (“CPTAQ”) to suspend the Miller file as a result of the inability of GSLR’s experts to complete drilling on the Miller site. CPTAQ considered the submissions, and on Monday March 22, 2021, notified all parties in writing that there was no basis for a suspension and that the public meetings would proceed.

Yesterday, GSLR’s lawyers filed for an injunction to stop the CPTAQ meeting which is scheduled for March 31, 2021 and April 1, 2021. The Injunction application is to be heard in Superior Court on March 30, 2021.

The main arguments GSLR offers as a basis of the injunction are:

• GSLR’s experts were not allowed on the Miller site to conduct their own drilling which they feel is a necessity to evaluate the Project;

• GSLR felt that Canada Carbon was not in compliance with the Settlement Agreement signed in February 2020 because it would not let their experts onto the property to conduct drilling; and

• GSLR did not feel that the 2 hours allotted to each of the opposing lawyers for the first day of the CPTAQ hearings was sufficient time for them to argue their position.

In July 2020, the CPTAQ issued a preliminary positive conditional orientation for the Miller Project. GSLR chose to commission three counter-expertise reports. In August 2020, Canada Carbon provided GSLR with all the source data pertaining to the hydrogeology of the site for analysis by GSLR’s experts.

GSLR’s counter-expertise studies were filed with the CPTAQ. The report carried out by the hydrogeological expert at the request of GSLR concludes in particular that:

Although drilling data to the base of the pits is still missing, we are of the opinion that the municipal wells of Grenville-sur-la-Rouge, Calumet and Village sectors will not be affected by the marble mining and quarrying project. This is because these two catchment systems do not tap the same aquifer and the recharge areas of these wells do not touch the watersheds of Lac Caron and the East Calumet River.

Two other hydrogeological reports completed in 2017, at GSLR's request, came to this same conclusion, in addition to the Company's own expert reports.

GSLR and MRC are now requesting that the CPTAQ analysis be suspended until GSLR's expert conducts drilling on the Miller property. According to Canada Carbon’s experts the preliminary studies conducted by CCB are more than sufficient for the purposes of the CPTAQ’s mandate and the requests of GSLR and MRC are premature at this stage of the Miller Project’s development and add no additional input to the CPTAQ analysis.

While GSLR contends that their expert noted several deficiencies in the BluMetric (an expert firm in the fields of water and wastewater treatment and professional environmental services) hydrogeology report, the deficiencies relate to the fact that BluMetric’s report was preliminary. BluMetric acknowledges that further work is required on the site, however that work will not commence until the final pit locations and designs are determined. In its own submission to CPTAQ, Canada Carbon indicated that the final location of the pits, quarry and infrastructure were still subject to change as further analysis and resource definition are carried out. Additional drilling and other environmental requirements will be carried out at a later date by Canada Carbon, with the assistance of BluMetric, as part of the authorization process that is subject to the jurisdiction of the MELCC and the MRN to ensure the protection of the environment.

In addition, Canada Carbon’s project will be subject to an environmental review which will consider the adequacy of its reports and analysis. The Company is aware and very sensitive to the various steps involved in obtaining the necessary permits to start a mining project in Quebec. Its goal is to jointly develop a project that will benefit all stakeholders. It understands that there are questions from the municipality of GSLR and the MRC. Canada Carbon has already committed, on January 10, 2020, to submit the Miller project to a review by the Bureau d'audiences publiques sur l'environnement (BAPE). While the size of its project did not require it to do so, the Company decided to submit to the BAPE to review and evaluate the Miller Project in an impartial and factual manner. What GSLR's expert proposes to do is premature and not necessary at this stage.

The Settlement Agreement, which was signed in February 2020, had two key paragraphs at issue in these proceedings. Section 18 states that, “GSLR and CCB agree to enter into a dialogue on the Miller Project and to put forward a process for that purpose with the assistance of the MERN, to the extent that the MERN agrees to act in that capacity”. Section 19 states that, “As part of this process, CCB agrees to collaborate with GSLR in the conduct of any study that GSLR may require, if necessary, on the recommendation of a professional under the Professional Code, in order to enable it to understand, analyze or participate in improving the Miller Project in terms of its social acceptability”.

As stated in a previous press release, the objective of these two sections was to ensure that through dialogue both parties would jointly determine what additional analysis would be required and that the collection of this additional information would be carried out by both parties jointly on a scientific, effective and transparent basis.

GSLR has chosen to solely focus on Section 19 and feels that Canada Carbon’s unwillingness to allow their experts on the site to carry out drilling constitutes non-compliance with the Settlement Agreement despite the fact that GSLR was unwilling to begin constructive dialogue in 2020.

The Company will contest GSLR’s legal demand vigorously.

For further information:

Olga Nikitovic
Interim CEO
Canada Carbon Inc.
info@canadacarbon.com

Valerie Pomerleau
Director Public Affairs and Communications
Canada Carbon Inc.
vpomerleau@canadacarbon.com
(819) 856-5678

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

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

Montreal Quebec, March 26, 2021 (GLOBE NEWSWIRE) — Montreal, Quebec March 26, 2021 – SRG Mining Inc. (TSXV: SRG) (“SRG” or the “Company”) announced today that further to its press release dated January 26, 2021 announcing the 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”), the parties have fully closed the first tranche on January 26, 2021 for USD$800,000 (the “First Tranche”).

While the parties advance the finalization of the definitive convertible credit agreement for the total Financing which is expected in the coming weeks, they intend to amend the maturity date for the First Tranche, which was set to April 2, 2021 to July 31, 2022, all subject to the approval of TSX Venture Exchange.

The Company had entered into the Financing in support of its bid for the North American Lithium Inc. (“NAL”) assets pursuant to the procedures of the Sale and Investor Solicitation Process relating to NAL.

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: Ugo Landry-Tolszczuk SRG Mining ugo.landry.tolszczuk@srgmining.com

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously said that 'Volatility is far from synonymous with risk.' 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 Lynas Rare Earths Limited (ASX:LYC) makes use of debt. But should shareholders be worried about its use of debt?

What Risk Does Debt Bring?

Debt is a tool to help businesses grow, but if a business is incapable of paying off its lenders, then it exists at their mercy. Part and parcel of capitalism is the process of 'creative destruction' where failed businesses are mercilessly liquidated by their bankers. 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. Of course, the upside of debt is that it often represents cheap capital, especially when it replaces dilution in a company with the ability to reinvest at high rates of return. The first thing to do when considering how much debt a business uses is to look at its cash and debt together.

See our latest analysis for Lynas Rare Earths

What Is Lynas Rare Earths's Debt?

The image below, which you can click on for greater detail, shows that Lynas Rare Earths had debt of AU$163.7m at the end of December 2020, a reduction from AU$196.5m over a year. But it also has AU$512.6m in cash to offset that, meaning it has AU$348.9m net cash.

How Strong Is Lynas Rare Earths' Balance Sheet?

Zooming in on the latest balance sheet data, we can see that Lynas Rare Earths had liabilities of AU$76.6m due within 12 months and liabilities of AU$301.9m due beyond that. Offsetting these obligations, it had cash of AU$512.6m as well as receivables valued at AU$58.0m due within 12 months. So it actually has AU$192.2m more liquid assets than total liabilities.

This surplus suggests that Lynas Rare Earths has a conservative balance sheet, and could probably eliminate its debt without much difficulty. Simply put, the fact that Lynas Rare Earths has more cash than debt is arguably a good indication that it can manage its debt safely.

Shareholders should be aware that Lynas Rare Earths's EBIT was down 57% last year. If that decline continues then paying off debt will be harder than selling foie gras at a vegan convention. When analysing debt levels, the balance sheet is the obvious place to start. But ultimately the future profitability of the business will decide if Lynas Rare Earths can strengthen its balance sheet over time. So if you want to see what the professionals think, you might find this free report on analyst profit forecasts to be interesting.

Finally, a business needs free cash flow to pay off debt; accounting profits just don't cut it. Lynas Rare Earths may have net cash on the balance sheet, but it is still interesting to look at how well the business converts its earnings before interest and tax (EBIT) to free cash flow, because that will influence both its need for, and its capacity to manage debt. Happily for any shareholders, Lynas Rare Earths actually produced more free cash flow than EBIT over the last three years. There's nothing better than incoming cash when it comes to staying in your lenders' good graces.

Summing up

While it is always sensible to investigate a company's debt, in this case Lynas Rare Earths has AU$348.9m in net cash and a decent-looking balance sheet. And it impressed us with free cash flow of -AU$3.7m, being 122% of its EBIT. So we are not troubled with Lynas Rare Earths's debt use. The balance sheet is clearly the area to focus on when you are analysing debt. But ultimately, every company can contain risks that exist outside of the balance sheet. Case in point: We've spotted 4 warning signs for Lynas Rare Earths you should be aware of.

If you're interested in investing in businesses that can grow profits without the burden of debt, then check out this free list of growing businesses that have net cash on the balance sheet.

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.

There's no doubt that money can be made by owning shares of unprofitable businesses. Indeed, UEX (TSE:UEX) stock is up 247% 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 UEX shareholders to consider whether its cash burn is concerning. For the purpose of this article, we'll define cash burn as the amount of cash the company is spending each year to fund its growth (also called its negative free cash flow). First, we'll determine its cash runway by comparing its cash burn with its cash reserves.

View our latest analysis for UEX

How Long Is UEX'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. As at December 2020, UEX had cash of CA$7.2m and no debt. Looking at the last year, the company burnt through CA$3.7m. Therefore, from December 2020 it had roughly 23 months of cash runway. While that cash runway isn't too concerning, sensible holders would be peering into the distance, and considering what happens if the company runs out of cash. The image below shows how its cash balance has been changing over the last few years.

How Is UEX's Cash Burn Changing Over Time?

While UEX did record statutory revenue of CA$42k over the last year, it didn't have any revenue from operations. That means we consider it a pre-revenue business, and we will focus our growth analysis on cash burn, for now. The 55% reduction in its cash burn over the last twelve months may be good for protecting the balance sheet but it hardly points to imminent growth. Admittedly, we're a bit cautious of UEX due to its lack of significant operating revenues. So we'd generally prefer stocks from this list of stocks that have analysts forecasting growth.

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

There's no doubt UEX's rapidly reducing cash burn brings comfort, but even if it's only hypothetical, it's always worth asking how easily it could raise more money to fund further growth. Companies can raise capital through either debt or equity. Commonly, a business will sell new shares in itself to raise cash and drive growth. We can compare a company's cash burn to its market capitalisation to get a sense for how many new shares a company would have to issue to fund one year's operations.

UEX has a market capitalisation of CA$140m and burnt through CA$3.7m last year, which is 2.6% of the company's market value. So it could almost certainly just borrow a little to fund another year's growth, or else easily raise the cash by issuing a few shares.

So, Should We Worry About UEX's Cash Burn?

It may already be apparent to you that we're relatively comfortable with the way UEX is burning through its cash. In particular, we think its cash burn relative to its market cap stands out as evidence that the company is well on top of its spending. Its cash runway wasn't quite as good, but was still rather encouraging! Looking at all the measures in this article, together, we're not worried about its rate of cash burn; the company seems well on top of its medium-term spending needs. On another note, we conducted an in-depth investigation of the company, and identified 4 warning signs for UEX (2 don't sit too well with us!) that you should be aware of before investing here.

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.

We can readily understand why investors are attracted to unprofitable companies. 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. Having said that, unprofitable companies are risky because they could potentially burn through all their cash and become distressed.

So, the natural question for Greenland Minerals (ASX:GGG) shareholders is whether they should be concerned by its rate of cash burn. In this article, we define cash burn as its annual (negative) free cash flow, which is the amount of money a company spends each year to fund its growth. The first step is to compare its cash burn with its cash reserves, to give us its 'cash runway'.

View our latest analysis for Greenland Minerals

Does Greenland Minerals Have A Long 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. As at June 2020, Greenland Minerals had cash of AU$6.9m and no debt. Looking at the last year, the company burnt through AU$5.0m. So it had a cash runway of approximately 17 months from June 2020. While that cash runway isn't too concerning, sensible holders would be peering into the distance, and considering what happens if the company runs out of cash. The image below shows how its cash balance has been changing over the last few years.

How Is Greenland Minerals' Cash Burn Changing Over Time?

In the last year, Greenland Minerals did book revenue of AU$108k, but its revenue from operations was less, at just AU$64k. We don't think that's enough operating revenue for us to understand too much from revenue growth rates, since the company is growing off a low base. So we'll focus on the cash burn, today. As it happens, the company's cash burn reduced by 2.3% over the last year, which suggests that management are maintaining a fairly steady rate of business development, albeit with a slight decrease in spending. Admittedly, we're a bit cautious of Greenland Minerals due to its lack of significant operating revenues. So we'd generally prefer stocks from this list of stocks that have analysts forecasting growth.

How Hard Would It Be For Greenland Minerals 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 Greenland Minerals to raise more cash in the future. Companies can raise capital through either debt or equity. 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).

Greenland Minerals has a market capitalisation of AU$228m and burnt through AU$5.0m last year, which is 2.2% of the company's market value. That means it could easily issue a few shares to fund more growth, and might well be in a position to borrow cheaply.

So, Should We Worry About Greenland Minerals' Cash Burn?

The good news is that in our view Greenland Minerals' cash burn situation gives shareholders real reason for optimism. One the one hand we have its solid cash runway, while on the other it can also boast very strong cash burn relative to its market cap. While we're the kind of investors who are always a bit concerned about the risks involved with cash burning companies, the metrics we have discussed in this article leave us relatively comfortable about Greenland Minerals' situation. Taking a deeper dive, we've spotted 4 warning signs for Greenland Minerals you should be aware of, and 1 of them is a bit concerning.

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

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

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

March 26 (Reuters) – The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

– General Atlantic in talks with Goldman on refinancing Greensill loan https://on.ft.com/3soSf8S

– Consortium set to increase bid for Kaz Minerals https://on.ft.com/2NZotbW

– UK regulator 'didn't understand' effect of loophole on investors being exploited in LCF scandal https://on.ft.com/3lZOAvW

– U.S.-UK trade deal talks set to miss key Washington deadline https://on.ft.com/3fcdTte

– EU leaders clash over vaccine distribution in tense summit https://on.ft.com/3vUtC6d

Overview

– U.S. private equity firm General Atlantic is in talks with Goldman Sachs to refinance a controversial 300 million euros ($353.28 million) loan from Greensill Capital, the finance start-up whose collapse has brought scrutiny on the $50 billion investment firm's dealings with its portfolio company.

– The consortium bidding for Kaz Minerals is set to increase its 3.7 billion pounds ($5.09 billion)offer for the London-listed copper miner, said people familiar with the situation.

– The UK financial regulator "didn't understand" in 2019 the "toxic interface" between the regulated and unregulated activities of businesses that it oversaw, at the time of a 236 million pounds retail-investment scandal, a senior executive told MPs on Thursday.

– UK hopes of clinching a trade deal with the US — seen as one of the major prizes of Brexit — is facing a further setback with negotiators set to miss a key deadline for securing a swift passage through Congress.

– EU divisions over vaccine distribution were laid bare at a summit on Thursday as governments failed to agree on how to provide additional jabs to member states in need of emergency supplies.

($1 = 0.8492 euros) ($1 = 0.7270 pounds) (Compiled by Bengaluru newsroom)

Vancouver, British Columbia–(Newsfile Corp. – March 26, 2021) – Eastern Platinum Limited (TSX: ELR) (JSE: EPS) ("Eastplats" or the "Company") is pleased to report that it has filed its Audited Consolidated Financial Statements for the years ending December 31, 2020 and 2019 and the corresponding Management's Discussion and Analysis and Annual Information Form. Below is a summary of the Company's financial results for the year ended December 31, 2020 (all amounts in USD):

• 43% growth in revenue for the year ended December 31, 2020 of $56.1 million compared to $39.2 million in the prior year. The growth in revenue is due to the strong operating results from the Retreatment Project (as defined below);

• Mining operation income (eight consecutive quarters)- December 31, 2020 $5.6 million (2019 – $5.5 million) (some difficulties in direct comparison include: commercial production timing in 2019 and the most recent four quarters being negatively impacted by COVID-19 costs and 2020 South Africa lockdowns);

• Cash generated from operations during the year December 31, 2020 – $1.6 million (2019 – negative $8.8 million);

• Positive working capital (excluding non-cash deferred revenue and lease liability) of $8.5 million as at December 31, 2020; and

• Net loss to equity shareholders of $8.0 million (loss of $0.08 per share) for the year ended December 31, 2020 compared to earnings to equity shareholders of $0.1 million (earnings of $0.00 per share) for the prior year, resulting from an increase in non-cash finance costs, foreign exchange losses and the legal settlement with AlphaGlobal (See news release of June 26, 2020).

Operations of the Retreatment Project

The availability of the Retreatment Project as a 24-hour continuous operation (including chrome recovery plant, deposition and remining on the tailings dam) including planned maintenance has improved significantly in 2020 to 86% up from 76% in 2019.

Eastplats reported 987,003 tons of chrome concentrate production, a 68% increase from 2019 production. (See news release of March 3, 2021 for a detailed review of the Retreatment Project).

On March 10, 2021, the Company and Union Goal signed updated Retreatment Project Agreements (See news release of March 15, 2021) which capitalized on Eastplats' two years of operating knowledge and continued commitment to the long-term benefits of the Retreatment Project.

Platinum Group Metals

During 2020, the Company completed the refurbishment of the small-scale PGM circuit (previously the scavenger plant circuit) ("PGM Circuit D"). The Company only restarted and began operating the PGM Circuit D during Q3 2020 (following the mandatory general lockdown imposed by the Government of South Africa in connection with the COVID-19 pandemic). The Company generated approximately 134 tons of pressed filter cake PGM concentrate and delivered approximately 32.18 tons during 2020.

During early 2021, the Company completed the reconfiguring and optimization of the PGM Circuit D which also includes funding for some of the initial work required to restart the main PGM plant circuit ("PGM Main Circuit").

Rights offering

On December 18, 2020, the Company issued rights to its existing shareholders for the acquisition of shares at a discounted price (the "Rights Offering"). On January 22, 2021, the Company completed the Rights Offering. Eastplats issued 36,841,741 common shares of the Company (each a "Common Share") at a price of Cdn$0.32 per Common Share for rights exercised on the Toronto Stock Exchange and R3.77136 per Common Share for rights exercised on the Johannesburg Stock Exchange. The Company is very pleased to have raised total gross proceeds of approximately $9.3 million (Cdn$11.8 million) to invest into additional capital projects.

Outlook

The Company's CRM Retreatment Project in South Africa was operating without restrictions at December 31, 2020. Additionally, the Company restarted the PGM Circuit D in 2020 and completed further improvements during March 2021.

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

• Continue operating the Retreatment Project efficiently;

• Complete the upgrades and operate the PGM Circuit D;

• Complete the optimization project for the Retreatment Project;

• Establish the appropriate phase II of the tailing storage facility capital works program;

• Upgrade and repair the Crocodile River Mine ("CRM") Zandfontein underground shaft and rock winder to ensure they are available for PGM operations;

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

• Complete the environmental impact assessment ("EIA") regarding the haul road for the Mareesburg project;

• Prospect and assess work in relation to Zandfontein, Crocette and Spitzkop ore bodies;

• Conduct feasibility and assessment work regarding a vertical furnace and pelletizer of chrome concentrate;

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

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

Diana Hu, CEO of Eastern Platinum, commented, "Eastplats has established stable operations with the Retreatment Project, and is seeking to complete its optimization program by the end of Q3 2021. This stability will allow growth with PGM extraction through both the PGM Circuit D and the PGM Main Circuit. These projects are expected to increase the revenue and income of Eastplats. During 2021, the Company's focus is on operations and cash-flow to continue to build shareholder value."

About Eastern Platinum Limited

Eastplats owns directly and indirectly a number of PGM and chrome assets in the Republic of South Africa. All of the Company's properties are situated on the western and eastern limbs of the Bushveld Complex, the geological environment that hosts approximately 80% of the world's PGM-bearing ore.

Operations at the Crocodile River Mine include re-mining and processing its tailings resource, with an offtake of the chrome concentrate to Union Goal from the Zandfontein UG2 tailings facility (the "Retreatment Project") and the processing and extraction of platinum group metals ("PGM").

COVID-19

South Africa remains at alert level 1 regarding COVID-19. The Company continues to follow the health guidelines of the Government of South Africa. The Retreatment Project remains in full operation and continues to produce and transport chrome and PGM end products. The effects of COVID-19 are evolving and changing and the consequences of a further increase in the alert level in South Africa, temporary shutdown of any operations or other related issues cannot be reasonably estimated at this time, but could potentially have material adverse effects on the Company's business, operations, liquidity and cashflows.

Annual filings

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

• Audited consolidated financial statements for the year ended December 31, 2020 and 2019;

• Management's discussion and analysis for the year ended December 31, 2020 and 2019; and

• Annual Information Form at December 31, 2020.

For further information, please contact:

EASTERN PLATINUM LIMITEDRowland Wallenius, Chief Financial Officerrwallenius@eastplats.com (email)(604) 800-8200 (phone)

Cautionary Statement Regarding Forward-Looking Information

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

In particular, this press release contains, without limitation, forward-looking statements pertaining to: forecast of operational activity of the Retreatment Project, the Company's ability to complete the Optimization Project, ability to forecasted cashflows of the Retreatment Project and for the Company, the Company's ability to test and assess PGM recovery opportunities in connection with the Retreatment Project, the Company's ability to assess and make decisions with respect to monetizing its other assets; the Company's ability to meet any of its targets for 2021, estimated operations and production of PGM Circuit D and PGM Main Circuit; estimated ramp up or upgrades to the PGM Circuit D and PGM Main Circuit; potential additional revenue from the PGM Circuit D and PGM Main Circuit; potential effects of COVID-19 such as a new lockdown imposed by the Government of South Africa; and any future measures taken by the Government of South Africa and their impact on the Company, and its business, operations, liquidity and cashflows. These forward-looking statements are based on assumptions made by and information currently available to the Company. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. By their very nature, forward-looking statements involve inherent risks and uncertainties and readers are cautioned not to place undue reliance on these statements as a number of factors could cause actual results to differ materially from the beliefs, plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors include, but are not limited to, unanticipated problems that may arise in our production processes, commodity prices, lower than expected grades and quantities of resources, need for additional funding and availability of such additional funding on acceptable terms, economic conditions, currency fluctuations, competition and regulations, legal proceedings and risks related to operations in foreign countries.

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

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/78631