Vancouver, British Columbia–(Newsfile Corp. – October 25, 2021) – The board of International Lithium Corp. (TSXV: ILC) (the "Company" or "ILC"), is pleased to announce the further expansion of its Raleigh Lake lithium and rubidium project in Ontario, Canada where it now has claims totalling 27,000 hectares (270 square kilometres), an increase of 10,000 hectares from the previously announced 17,000 hectares and from 3,000 hectares when ILC's drilling began in April 2021. At the same time the Company and its partner Essential Metals Limited (ASX:ESS, "ESS") have announced their divestment of 100% of the Mavis Lake Project in Ontario through the granting of an option to Critical Resources Limited (ASX:CRR).
Further detailed announcements will be made in respect of Raleigh Lake and the neighbouring new claims, but we can disclose now that multiple new pegmatites were discovered in October 2021 including on some of the new claims. We will make further announcements when laboratory analysis has been carried out. The board remains excited about the potential of this project.
The Mavis Lake sale will, if the option is exercised, realise AUD$ 3.2m in cash & shares (approx. CAD$ 2.952m at an exchange rate of CAD$=AUD$ 1.0840) with a possible further AUD$ 3.0m (CAD$ 2.768m) of cash linked to resource discovery milestones. ILC will, on option exercise, receive exactly 50% of these proceeds, i.e. approximately CAD$ 1.476m with a possible further CAD $1.384m linked to resource discovery milestones.
Key transaction details of the sale of Mavis Lake (including Fairservice) are as follows:
a) Critical Resources will pay AUD$ 175,000 to purchase the option to acquire the Project with the option exercisable by 4 January 2022 upon completion of due diligence and the fulfilment of certain conditions precedent. Upon exercising the option, Critical Resources will pay/issue the following:
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AUD$1,500,000 cash; and
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68 million shares in Critical Resources at a price of AUD$ 0.022 per share (with a deemed value of AUD$ 1.5 million).
b) ESS and ILC will share the proceeds equally. ESS will, if the option is exercised, give up its rights to acquire a further 29% of the project, while ILC will also give up its 1.5% NSR.
c) In addition, milestone payments totalling AUD$3.0 million will be payable on the definition of a lithium resource as follows
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AUD$1.5m on definition of a mineral resource estimate exceeding 5m tonnes of which at least 50,000 tonnes of Li2O using a cut-off grade of 0.4%.
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A further AUD$ 1.5m on definition of a resource exceeding 10m tonnes of which at least 100,000 tonnes of Li2O using a cut-off grade of 0.4% or, in case both milestones are defined at the same time, AUD$3.0m in total.
ESS and ILC will share the proceeds equally.
d) If CRR were to complete its purchase but then sell or joint venture the Mavis Lake claims in future, then any further milestone payment obligations would pass to any future owner of the claims.
e) ILC and ESS will have a right of first refusal to buy the claims back if CRR had not achieved and made additional payment for the first additional payment milestone.
Mavis Lake is a joint venture with Essential Metals Limited (ASX:ESS, "ESS")) in which ILC has for the last three years owned 49% and ESS 51%, with ILC having an additional 1.5% Net Smelter Royalty. The Mavis Lake claims and mining leases are around 2,600 hectares. By spending CAD$ 8.5m, ESS would have acquired the right to increase its stake in Mavis Lake to 80%. It seemed unlikely that ESS were going to prioritise this spending in the near future, preferring to focus on their Australian projects, and therefore the two parties looked at other strategic options, including ILC buying ESS out as it had the right to do. Critical Resources Ltd. (ASX:CRR) emerged as the preferred buyer.
John Wisbey, Chairman and CEO of International Lithium Corp. commented:
We have a strong commitment to growing our position in the lithium and rare metals market, so it is ironic that we are announcing our second disposal in a week – Mavis Lake optioned out, and our stake in Mariana sold. We are however at the same time increasing our claims in Ontario appreciably at Raleigh Lake and the wider Ignace area where we have now increased the size of our claims to 27,000 hectares. Many new pegmatites have recently been revealed at these claims and we will be doing a lot of further exploration and drilling to validate the scale of our discovery there over the next few months. Focus is important, and we decided that it was better for ILC to concentrate its efforts in Ontario on our key and wholly owned project there Raleigh Lake rather than also paying to regain 100% of Mavis Lake.
About International Lithium Corp.
International Lithium Corp. believes that the '20s will be the decade of battery metals, at a time that the world faces a significant turning point in the energy market's dependence on oil and gas and in the governmental and public view of climate change. Our key mission in this decade is to make money for our shareholders from lithium and rare metals while at the same time helping to create a greener, cleaner planet. This includes optimizing the value of our existing projects in Canada and Ireland as well as finding, exploring and developing projects that have the potential to become world class lithium and rare metal deposits. In addition, we have seen the clear and growing wish by the USA and Canada to safeguard their supplies of critical battery metals, and our Canadian Raleigh Lake property is strategic in that respect.
A key goal has been to become a well funded company to turn our aspirations into reality, and following the disposal of the Mariana project in Argentina in 2021, the Board of the Company believe that ILC is already well placed in that respect. The disposal of Mavis Lake, assuming the option is exercised as planned, will add useful further liquidity.
International Lithium Corp. has a significant portfolio of projects, strong management, and strong partners. Partners include Ganfeng Lithium Co. Ltd., ("Ganfeng Lithium") a leading China-based lithium product manufacturer quoted on the Shenzhen and Hong Kong stock exchanges (A share code: 002460, H share code: 1772) and Essential Metals Limited, quoted on the Australian Stock Exchange (ASX:ESS).
The Company's primary strategic focus is now on the Raleigh Lake lithium and rubidium project in Canada and on identifying additional properties.
The Raleigh Lake project now consists of 27,000 hectares (270 square kilometres) of adjoining mineral claims in Ontario, and is regarded by ILC management as ILC's most significant project in Canada. The exploration results there so far, which are on only about 5% of ILC's current claims, has shown significant quantities of rubidium and caesium in the pegmatite as well as lithium. Raleigh Lake is 100% owned by ILC, is not subject to any encumbrances, and is royalty free.
Complementing the Company's rare metal pegmatite property at Raleigh Lake, are interests in two other rare metal pegmatite properties in Ontario, Canada known as the Mavis Lake and Forgan Lake projects, and the Avalonia project in Ireland, which encompasses an extensive 50-km-long pegmatite belt.
The ownership of the Mavis Lake project is currently 51% Essential Metals Limited (ASX: ESS, "ESS") and 49% ILC. In addition, ILC owns a 1.5% NSR on Mavis Lake. ESS has an option to earn an additional 29% by sole-funding a further CAD $8.5 million expenditures of exploration activities, at which time the ownership will be 80% ESS and 20% ILC. Mavis Lake is now under option until January 2022 to Critical Resources Ltd. (ASX:CRR) to buy 100% at which point ILC's NSR would also be surrendered. If exercised, that option will bring the Company approximately CAD$1.4m of cash and shares in CRR, with upto a further CAD$1.4m if certain resource targets are achieved by CRR. If CRR were to complete its purchase but then sell or joint venture the Mavis Lake claims in future, this further payment obligation would pass to any future owner of the claims. ILC and ESS would have a right of first refusal to buy the claims back if CRR had not achieved and made additional payment for the first additional payment milestone.
The Forgan Lake project will, upon Ultra Resources Inc. meeting its contractual requirements pursuant to its agreement with ILC, become 100% owned by Ultra Resources (TSXV: ULT), and ILC will retain a 1.5% NSR on Forgan Lake.
The ownership of the Avalonia project is currently 55% Ganfeng Lithium and 45% ILC. Ganfeng Lithium has an option to earn an additional 24% by either incurring CAD $ 10 million expenditures on exploration activities by September 2024 or delivering a positive feasibility study on the project, at which time the ownership will be 79% Ganfeng Lithium and 21% ILC. In the event that ILC does not contribute to the project after that, and its share consequently falls below 10% of the project, its share will be substituted by a 1% NSR.
With the increasing demand for high tech rechargeable batteries used in electric vehicles and electrical storage as well as portable electronics, lithium has been designated "the new oil", and is a key part of a "green tech" sustainable economy. By positioning itself with projects with significant resource potential and with solid strategic partners, ILC aims to be one of the lithium and rare metals resource developers of choice for investors and to continue to build value for its shareholders in the '20s, the decade of battery metals.
Patrick McLaughlin, P. Geo., a Qualified Person as defined by NI 43-101, has verified the disclosed technical information and has reviewed and approved the contents of this news release.
On behalf of the Company,
John Wisbey
Chairman and CEO
For further information concerning this news release please contact +1 604-449-6520
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
Except for statements of historical fact, this news release or other releases contain certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information or forward-looking statements in this or other news releases may include: the effect of results of anticipated production rates, the timing and/or anticipated results of drilling on the Raleigh Lake or Avalonia projects, the expectation of resource estimates, preliminary economic assessments, feasibility studies, lithium or rubidium or caesium recoveries, modeling of capital and operating costs, results of studies utilizing various technologies at the company's projects, budgeted expenditures and planned exploration work on the Avalonia Joint Venture, satisfactory completion of the sale of mineral rights at Forgan Lake, increased value of shareholder investments, and assumptions about ethical behaviour by our joint venture partners where we have them. Such forward-looking information is based on a number of assumptions and subject to a variety of risks and uncertainties, including but not limited to those discussed in the sections entitled "Risks" and "Forward-Looking Statements" in the interim and annual Management's Discussion and Analysis which are available at www.sedar.com. While management believes that the assumptions made are reasonable, there can be no assurance that forward-looking statements will prove to be accurate. Should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Forward-looking information herein, and all subsequent written and oral forward-looking information are based on expectations, estimates and opinions of management on the dates they are made that, while considered reasonable by the Company as of the time of such statements, are subject to significant business, economic, legislative, and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect and are expressly qualified in their entirety by this cautionary statement. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100705
Oct 25 (Reuters) – Mineral Resources Ltd will restart operations at the Wodgina lithium mine it owns with Albemarle Corp next year, the Australian miner said on Monday, on improving demand for the metal used in making electric vehicle (EV) batteries.
Lithium prices have soared to more than three-year highs https://www.reuters.com/business/autos-transportation/surge-electric-vehicle-sales-power-lithium-prices-shortages-loom-2021-09-13, as the green transition is set to see a surge in demand for electric vehicles.
The mine in Western Australia's Pilbara region has a capacity to process 750,000 tonnes per year of spodumene concentrate, a mineral from which lithium is extracted, but has been idle since November 2019 when the lithium market was weak.
The production would restart in the third quarter of 2022 initially, with one of the three 250,000 tonnes per year processing lines, and the other two coming online as demand rises, Mineral Resources said.
Shares of Mineral Resources, which also mines iron ore, surged as much as 7.2% in early trade, their sharpest rise since April this year.
Albemarle owns 60% of the Wodgina mine with Mineral Resources holding the rest.
(Reporting by Riya Sharma in Bengaluru, additional reporting by Nikhil Kurian Nainan; Editing by Rashmi Aich)
VANCOUVER, BC, Oct. 25, 2021 /CNW/ – Rock Tech Lithium Inc. (the "Company" or "Rock Tech") (TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V).
Rock Tech Lithium Inc., together with GP Papenburg Entsorgung Ost GmbH and Knauf KG, have founded the Institute for Technologies and Economics of Lithium ("ITEL"). The ITEL is managed as a registered limited liability company by Professors Ulrich Blum and Ralf B. Wehrspohn of Martin Luther University Halle-Wittenberg as managing directors.
The ITEL is located in Halle an der Saale in Saxony-Anhalt. The institute aims to shape the interdisciplinary, CO2-neutral recycling economy for lithium in Germany. The switch to electromobility will make Germany the central location for battery production in Europe and thus also for the production of the crucial precursor lithium hydroxide. The reduction and reuse of the by-products generated during the refinement of lithium is the focus of the institute's work. Another focus is research into new production steps to optimize by-product value creation.
Dirk Harbecke CEO and Chairman of Rock Tech Lithium: "We at Rock Tech Lithium have already piloted a new refining process. Our nitrate process, produces very interesting by-products for the gypsum industry. With this institute we want to think further in this direction and it is part of our plan to become the first closed-loop lithium company in the world. In this context, the institute is a central building block in our sustainability strategy, which is not only about recycling our end product, but also about recycling all the materials that arise on the way to lithium hydroxide and setting up our production process in such a way that by-products of the highest possible reusability are generated in the process."
"In times of dwindling resources, greater sensitivity to the issue of recycling is essential. Here, the aspect of resource economics is gaining in importance, especially the optimal reuse of by-products," said Prof. Dr. Dr. h.c. Ulrich Blum of Martin Luther University Halle-Wittenberg.
"The institute has a unique selling point in the German research landscape: a corresponding facility currently exists neither close to science nor as a cooperative project of industry. From our point of view, the cooperation promises high chances for a technological lead in Germany," concludes Prof. Dr. Ralf B. Wehrspohn from Martin Luther University Halle-Wittenberg.
The institute consists of three departments: In addition to the "Material Economics" department, which is primarily dedicated to byproduct value creation, the "Green Hydrogen" department is working on CO2-neutral production, and the "Recycling and Resources" department is working on optimizing refinery processes.
About Rock Tech Lithium Inc.
Rock Tech Lithium is a cleantech company with operations in Canada and Germany that aims to supply the automotive industry with high quality lithium hydroxide "made in Germany". As early as 2024, the company intends to commission Europe's first lithium converter with a production capacity of 24,000 tonnes per year. This is equivalent to the volume needed to equip around 500,000 electric cars with lithium-ion batteries.
The cleantech company has set itself the goal of creating the world's first closed loop for lithium, thus closing the raw material gap on the road to clean mobility. Rock Tech owns the Georgia Lake lithium project in Ontario, Canada and, as early as 2030, around 50 percent of the raw materials used are expected to come from the recycling of batteries.
Rock Tech Lithium is listed on the TSX Venture and Frankfurt stock exchanges. The company is led by Dirk Harbecke, Chairman & CEO, Stefan Krause, Chief Financial Officer, and Don Stevens, Chief Technology Officer and Esther Bahne as Chief Strategy & Marketing Officer.
Rock Tech Lithium – The super fuel for the battery age
On behalf of the Board of Directors,
Dirk Harbecke
Chairman and Chief Executive Officer
Cautionary Note Concerning Forward-Looking Information
The following cautionary statements are in addition to all other cautionary statements and disclaimers contained elsewhere in, or referenced by, this news release. Certain information set forth in this news release contains "forward-looking information" within the meaning of applicable Canadian securities laws. All statements other than statements of historical facts included in this news release, including those regarding Rock Tech's opinions, beliefs and expectations, business strategy, development and exploration opportunities and projects, mineral resource estimates, drilling and modeling plans, and plans and objectives of management for operations and properties constitute forward-looking information. Generally, forward-looking information can be identified by the use of words or phrases such as "estimate", "project", "anticipate", "expect", "intend", Rock Tech Lithium Inc. 600-777 Hornby Street | Vancouver | British Columbia | Canada | V6Z 1S4 P. +1.778.358.5200 | F. +1.604.670.0033 www.rocktechlithium.com | bbarnett@rocktechlithium.com TSXV: RCK | Frankfurt: RJIB | OTCQX: RCKTF "believe", "hope", "may" and similar expressions, as well as "will", "shall" and all other indications of future tense. All forward-looking information set forth in this news release are expressly qualified in their entirety by the cautionary statements referred to in this section.
Forward-looking information is based on certain estimates, expectations, analysis and opinions that are believed by management of Rock Tech to be reasonable at the time they were made or in certain cases, on third party expert opinions. It should be noted that, in order to achieve its objectives, Rock Tech will be required to raise additional funding and the availability of financing on satisfactory terms is not guaranteed. This forward-looking information was derived utilizing numerous assumptions regarding, among other things, the supply and demand for, deliveries of, and the level and volatility of prices of, intermediate and final lithium products, expected growth, performance and business operation, prospects and opportunities, general business and economic conditions, results of development and exploration, Rock Tech's ability to procure supplies and other equipment necessary for its business, including development and exploration activities. The foregoing list is not exhaustive of all assumptions which may have been used in developing the forward-looking information. While Rock Tech considers these assumptions to be reasonable based on information currently available, they may prove to be incorrect.
Forward-looking information should not be read as a guarantee of future performance or results. In addition, forward-looking information involves known and unknown risks and uncertainties and other factors, many of which are beyond Rock Tech's control, that may cause Rock Tech's actual events, results, performance and/or achievements to be materially different from that which is expressed or implied by such forward-looking information. Risks and uncertainties that may cause actual events, results, performance and/or achievements to vary materially include the risk that Rock Tech will not be able to meet its financial obligations as they fall due, changes in commodity prices, Rock Tech's ability to retain and attract skilled staff and to secure feedstock from third party suppliers, unanticipated events and other difficulties related to construction, development and operation of converters and mines, the cost of compliance with current and future environmental and other laws and regulations, title defects, competition from existing and new competitors, changes in currency exchange rates and market prices of Rock Tech's securities, Rock Tech's history of losses, impacts of climate change and other risks and uncertainties discussed under the heading "Financial Instruments and Other Risks" in Rock Tech's most recently filed Management Discussion and Analysis, a copy of which is filed electronically through SEDAR and is available online at www.sedar.com. Such risks and uncertainties do not represent an exhaustive list of all risk factors that could cause actual events, results, performance and/or achievements to vary materially from the forwardlooking information. We cannot assure you that actual events, results, performance and/or achievements will be consistent with the forward-looking information and management's assumptions may prove to be incorrect.
Our forward-looking information reflects Rock Tech management's views as at the date the information is created. Except as may be required by law, Rock Tech undertakes no obligation and expressly disclaims any responsibility, obligation or undertaking to update or to revise any forward-looking information, whether as a result of new information, future events or otherwise, to reflect any change in Rock Tech's expectations or any change in events, conditions or circumstances on which any such information is based. The forward-looking information contained herein is presented for the purposes of assisting readers in understanding Rock Tech's plans, objectives and goals and is not appropriate for any other purposes. Given these uncertainties, readers are cautioned not to rely on the forward-looking information set forth in this news release.
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Calgary, Alberta–(Newsfile Corp. – October 25, 2021) – West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) ("West High Yield" or the "Company") announces that, at the request by the Investment Industry Regulatory Organization of Canada, the Company wishes to confirm that its management is unaware of any material change in the Company's operations that would account for the recent increase in market activity.
About West High Yield
West High Yield is a publicly traded junior mining exploration and development company focused on the acquisition, exploration, and development of mineral resource properties in Canada with a primary objective to develop its Record Ridge magnesium deposit using green processing techniques to minimize waste and CO2 emissions.
Contact Information:
West High Yield (W.H.Y.) Resources Ltd.
Frank Marasco, President and Chief Executive Officer
Telephone: (403) 660-3488 Facsimile: (403) 206-7159
Email: frank@whyresources.com
Cautionary Note Regarding Forward-looking Information
This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company's control that may cause actual results or performance to differ materially from those currently anticipated in such statements.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100755
READING, Pa., Oct. 25, 2021 (GLOBE NEWSWIRE) — EnerSys (NYSE: ENS), the global leader in stored energy solutions for industrial applications, announced its partnership with the U.S. Department of Energy’s Better Plants program.
“EnerSys is proud to be a part of the U.S. Department of Energy Better Plants program,” said EnerSys Senior Vice President of Operations, Patrice Baumann. “Resource efficiency has always been a part of how we do business and is embedded into our EnerSys Operating System. We look forward to enhancing and accelerating our efforts in partnership with the Department of Energy and its Better Plants partners.”
The Better Plants program works with leading manufacturers to boost their resilience and economic potential through energy efficiency improvements. Through Better Plants, manufacturers commit to setting ambitious energy saving goals, develop energy management plans, and track and report annual progress against those goals. To date, over 250 industrial organizations have joined Better Plants and pledged to reduce energy intensity across their facilities.
As of 2021, organizations participating in Better Plants have collectively saved more than 1.9 quadrillion British thermal units (TBtu) and $9.3 billion in cumulative energy costs.
“The commitment by EnerSys to improving its energy productivity by 25% over 10 years establishes the company as a leader in efficiency and helps strengthen the nation’s manufacturing competitiveness,” said Becca Jones-Albertus, U.S. Department of Energy Acting Director, Advanced Manufacturing Office.
To learn more about the Better Plants program, visit: https://betterbuildingssolutioncenter.energy.gov/better-plants
To learn more about EnerSys, visit: www.enersys.com
Caution Concerning Forward-Looking Statements
EnerSys is making this statement in order to satisfy the “Safe Harbor” provision contained in the Private Securities Litigation Reform Act of 1995. Any of the statements contained in this press release that are not statements of historical fact may include forward-looking statements that involve a number of risks and uncertainties. A forward-looking statement predicts, projects, or uses future events as expectations or possibilities. Forward-looking statements may be based on expectations concerning future events and are subject to risks and uncertainties relating to operations and the economic environment, all of which are difficult to predict and many of which are beyond our control. For a discussion of such risks and uncertainties that could cause actual results to differ materially from those matters expressed in or implied by forward-looking statements, please see our risk factors as disclosed in the “Risk Factors” section of our annual report on Form 10-K for fiscal year ended March 31, 2021. The statements in this press release are made as of the date of this press release, even if subsequently made available by EnerSys on its website or otherwise. EnerSys does not undertake any obligation to update or revise these statements to reflect events or circumstances occurring after the date of this press release.
About EnerSys
EnerSys, the global leader in stored energy solutions for industrial applications, manufactures and distributes energy systems solutions and motive power batteries, specialty batteries, battery chargers, power equipment, battery accessories and outdoor equipment enclosure solutions to customers worldwide. Energy Systems, which combine enclosures, power conversion, power distribution and energy storage, are used in the telecommunication, broadband and utility industries, uninterruptible power supplies, and numerous applications requiring stored energy solutions. Motive power batteries and chargers are utilized in electric forklift trucks and other industrial electric powered vehicles. Specialty batteries are used in aerospace and defense applications, large over-the-road trucks, premium automotive, medical and security systems applications. EnerSys also provides aftermarket and customer support services to its customers in over 100 countries through its sales and manufacturing locations around the world. With the NorthStar acquisition, EnerSys has solidified its position as the market leader for premium Thin Plate Pure Lead batteries which are sold across all three lines of business. More information regarding EnerSys can be found at www.enersys.com.
For more information, contact Michael J. Schmidtlein, Chief Financial Officer, EnerSys, P.O. Box 14145, Reading, PA 19612-4145, USA. Tel: 610-236-4040 or by emailing investorrelations@enersys.com.
Vancouver, British Columbia–(Newsfile Corp. – October 25, 2021) – Couloir Capital Ltd. is Pleased to Announce the Updating of Research Coverage and Target Price on Cypress Development Corp. (TSXV: CYP) (OTCQB: CYDVF) (FSE: C1Z1). The update report is titled, "Starting Up Pilot Plant Testing Operations and Entering into Water Rights Purchase Agreement."
Report excerpt: "CYP has been focused on advancing its development initiatives at Clayton Valley, with key events including the completion of its pilot plant and the purchase of local water rights. The company appears to be deploying capital from its ample cash reserves in a way that advances its project significantly, with the key short-term goal being successful completion of a FS on Clayton Valley. We expect that such an event will unlock substantial capital appreciation for shareholders, given the increased degree of certainty around project valuation. Apart from company-specific catalysts, we believe CYP is also well placed to benefit from macro-level tailwinds, including the recent build up in lithium developer M&A as well as greatly increased lithium hydroxide market pricing."
The report can be accessed through Couloir Capital's portal:
https://www.couloircapital.com/research-portal
About Cypress Development Corp.
Cypress Development is focused on developing the Company's 100%-owned Clayton Valley Lithium Project in Nevada, USA. Exploration and development by Cypress has discovered a world-class resource of lithium-bearing claystone adjacent to the Albemarle Silver Peak mine, North America's only lithium brine operation. The size of the resource makes the Clayton Valley Project a premier source that has the potential to impact the supply of lithium for the fast-growing global energy storage battery market.
About Couloir Capital Ltd.
Couloir Capital Ltd. is an investment research firm comprised of a team of veteran investment professionals dedicated to providing world-class opportunities in the natural resource exploration and development sectors along with real and alternative asset classes and strategies. Couloir Capital Ltd. is affiliated with a registered securities dealer, Couloir Capital Securities Ltd., and an investment entity, the West Cirque Fund Limited Partnership.
For further information, please contact:
Rob Stitt, Managing Director, Couloir Capital Ltd.
Email: rstitt@couloircapital.com
Analyst Disclosure: The analyst and/or affiliated companies do not hold shares in CYP.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100803
Lithium miner Albemarle is the IBD Stock Of The Day as lithium prices climb on electric vehicle demand. ALB stock is near buy range Monday.
For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to investors, even if it completely lacks a track record of revenue and profit. Unfortunately, high risk investments often have little probability of ever paying off, and many investors pay a price to learn their lesson.
If, on the other hand, you like companies that have revenue, and even earn profits, then you may well be interested in FMC (NYSE:FMC). Even if the shares are fully valued today, most capitalists would recognize its profits as the demonstration of steady value generation. Loss-making companies are always racing against time to reach financial sustainability, but time is often a friend of the profitable company, especially if it is growing.
See our latest analysis for FMC
FMC's Improving Profits
In the last three years FMC's earnings per share took off like a rocket; fast, and from a low base. So the actual rate of growth doesn't tell us much. As a result, I'll zoom in on growth over the last year, instead. FMC has grown its trailing twelve month EPS from US$4.23 to US$4.49, in the last year. That's a modest gain of 6.1%.
One way to double-check a company's growth is to look at how its revenue, and earnings before interest and tax (EBIT) margins are changing. FMC reported flat revenue and EBIT margins over the last year. That's not a major concern but nor does it point to the long term growth we like to see.
The chart below shows how the company's bottom and top lines have progressed over time. Click on the chart to see the exact numbers.
Of course the knack is to find stocks that have their best days in the future, not in the past. You could base your opinion on past performance, of course, but you may also want to check this interactive graph of professional analyst EPS forecasts for FMC.
Are FMC Insiders Aligned With All Shareholders?
Since FMC has a market capitalization of US$12b, we wouldn't expect insiders to hold a large percentage of shares. But we are reassured by the fact they have invested in the company. Given insiders own a small fortune of shares, currently valued at US$54m, they have plenty of motivation to push the business to succeed. This should keep them focused on creating long term value for shareholders.
It's good to see that insiders are invested in the company, but are remuneration levels reasonable? A brief analysis of the CEO compensation suggests they are. I discovered that the median total compensation for the CEOs of companies like FMC, with market caps over US$8.0b, is about US$11m.
The FMC CEO received US$5.9m in compensation for the year ending . That seems pretty reasonable, especially given its below the median for similar sized companies. CEO compensation is hardly the most important aspect of a company to consider, but when its reasonable that does give me a little more confidence that leadership are looking out for shareholder interests. It can also be a sign of a culture of integrity, in a broader sense.
Does FMC Deserve A Spot On Your Watchlist?
One important encouraging feature of FMC is that it is growing profits. Earnings growth might be the main game for FMC, but the fun does not stop there. Boasting both modest CEO pay and considerable insider ownership, I'd argue this one is worthy of the watchlist, at least. Still, you should learn about the 1 warning sign we've spotted with FMC .
Of course, you can do well (sometimes) buying stocks that are not growing earnings and do not have insiders buying shares. But as a growth investor I always like to check out companies that do have those features. You can access a free list of them here.
Please note the insider transactions discussed in this article refer to reportable transactions in the relevant jurisdiction.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. 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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NEW YORK, Oct. 21, 2021 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating certain officers and directors of Provention Bio, Inc. (NASDAQ: PRVB), Danimer Scientific, Inc. (NYSE: DNMR), AcelRX Pharmaceuticals, Inc. (NASDAQ: ACRX), and Piedmont Lithium Inc. (NASDAQ: PLL) on behalf of long-term stockholders. More information about each potential case can be found at the link provided.
Provention Bio, Inc. (NASDAQ: PRVB)
Bragar Eagel & Squire is investigating certain officers and directors of Provention Bio, Inc. following a class action complaint that was filed against Provention Bio on May 21, 2021.
The complaint alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose that: (i) Provention Bio’s teplizumab BLA was deficient in its submitted form and would require additional data to secure FDA approval; (ii) accordingly, Provention Bio’s teplizumab BLA lacked the evidentiary support Provention Bio had led investors to believe it possessed; (iii) Provention Bio had thus overstated the teplizumab BLA’s approval prospects and hence the commercialization timeline for teplizumab; and (iv) as a result, Provention Bio’s public statements were materially false and misleading at all relevant times.
To learn more about our investigation into Provention Bio go to: https://bespc.com/cases/PRVB
Danimer Scientific, Inc. (NYSE: DNMR)
Bragar Eagel & Squire is investigating certain officers and directors of Danimer Scientific, Inc. following a class action complaint that was filed against Danimer Scientific on May 14, 2021.
The complaint alleges that throughout the Class Period defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Danimer had deficient internal controls; (ii) as a result, the Company had misrepresented, inter alia, its operations’ size and regulatory compliance; (iii) Defendants had overstated Nodax’s biodegradability, particularly in oceans and landfills; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
To learn more about our investigation into Danimer Scientific go to: https://bespc.com/cases/DNMR
AcelRX Pharmaceuticals, Inc. (NASDAQ: ACRX)
Bragar Eagel & Squire is investigating certain officers and directors of AcelRX Pharmaceuticals, Inc. following a class action complaint that was filed against AcelRX on June 8, 2021.
The complaint alleges that, throughout the Class Period, defendants made materially false and misleading statements regarding the Company's business, operations, and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) AcelRx had deficient disclosure controls and procedures with respect to its marketing of DSUVIA; (ii) as a result, AcelRx had been making false or misleading claims and representations about the risks and efficacy of DSUVIA in certain advertisements and displays; (iii) the foregoing conduct subjected the Company to increased regulatory scrutiny and enforcement; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.
To learn more about our investigation into AcelRX go to: https://bespc.com/cases/ACRX
Piedmont Lithium Inc. (NASDAQ: PLL)
Bragar Eagel & Squire is investigating certain officers and directors of Piedmont Lithium Inc. following a class action complaint that was filed against Piedmont on July 23, 2021.
The complaint alleges that, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (i) Piedmont has not, and would not, follow its stated steps or timeline to secure all proper and necessary permits; (ii) Piedmont failed to inform relevant people and governmental authorities of its actual plans; (iii) Piedmont failed to file proper applications with relevant governmental authorities (including state and local authorities); (iv) Piedmont and its lithium business does not have “strong governmental support”; and (v) as a result, defendants’ public statements were materially false and/or misleading at all relevant times.
To learn more about our investigation into Piedmont go to: https://bespc.com/cases/PLL
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Alexandra B. Raymond, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
There are a lot of cases of right stock, wrong time lately, like with LAC stock. This is why second chances are important.
Calgary, Alberta–(Newsfile Corp. – October 22, 2021) – West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) ("West High Yield" or the "Company") announces that its board of directors has approved and authorized the grant of 350,000 stock options (the "Options") to a consultant of the Company effective October 21, 2021. The Options are granted in accordance with the terms of the stock option plan of the Company. All of the Options vest on their date of grant and every one (1) Option entitles the holder thereof to purchase one (1) common share of the Company at a price of CAD$0.34 per common share for a period of five (5) years from the Option grant date.
About West High Yield
West High Yield is a publicly traded junior mining exploration and development company focused on the acquisition, exploration, and development of mineral resource properties in Canada with a primary objective to develop its Record Ridge magnesium deposit using green processing techniques to minimize waste and CO2 emissions.
Contact Information:
West High Yield (W.H.Y.) Resources Ltd.
Frank Marasco, President and Chief Executive Officer
Telephone: (403) 660-3488 Facsimile: (403) 206-7159
Email: frank@whyresources.com
Cautionary Note Regarding Forward-looking Information
This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; and other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.
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 OF THIS RELEASE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100621
/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES/
TORONTO, Oct. 22, 2021 /CNW/ – First Cobalt Corp. (TSXV: FCC) (the "Company") is pleased to announce that it has completed the sale of additional Secured Convertible Notes, for an aggregate amount of US$7.5 million, as part of the Company's recently completed offering of 6.95% senior secured convertible notes due December 1, 2026 (the "Notes").
Pursuant to subscription agreements entered into between the Company and investors on August 23, 2021, each investor had the right to subscribe for additional Notes pro rata for an aggregate additional principal amount of up to US$7.5 million. The offering of Notes was led by Cantor Fitzgerald & Co., as sole placement agent. Cantor Fitzgerald & Co. received a placement agent fee equal of 4% of the gross proceeds of the additional Notes sold.
With the exercise of the option, First Cobalt is adequately financed for the recommissioning and expansion of its hydrometallurgical refinery in Ontario, and on track to becoming North America's only producer of sustainable battery-grade cobalt sulfate by Q4'2022.
The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any applicable U.S. state securities laws, and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer or sale would be unlawful.
About First Cobalt
First Cobalt's mission is to be a producer of diversified high-quality and sustainable battery materials for the North American battery supply chain. The Company owns a permitted hydrometallurgical refinery in Ontario, Canada, a critical asset in the development and manufacturing of batteries for electric vehicles. First Cobalt also owns the Iron Creek cobalt-copper project in Idaho, USA as well as several significant cobalt and silver properties in the Canadian Cobalt Camp.
On behalf of First Cobalt Corp.
Trent Mell
President & Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This news release may contain forward-looking statements and forward-looking information (together, "forward- looking statements") within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements. Specifically, statements with respect to the use of proceeds of the exercise of the investor option, the development of the Refinery, and other matters ancillary or incidental to the foregoing are forward looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects', "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved". Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance and opportunities to differ materially from those implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements are set forth in the management discussion and analysis and other disclosures of risk factors for the Company, filed on SEDAR at www.sedar.com, and are included in the Base Shelf Prospectus and the Prospectus Supplement. Although the Company believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
SOURCE First Cobalt Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2021/22/c4376.html
Investors looking for stocks in the Chemical – Diversified sector might want to consider either Huntsman (HUN) or Albemarle (ALB). But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.
The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.
Huntsman and Albemarle are sporting Zacks Ranks of #2 (Buy) and #3 (Hold), respectively, right now. This means that HUN's earnings estimate revision activity has been more impressive, so investors should feel comfortable with its improving analyst outlook. But this is only part of the picture for value investors.
Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels.
The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.
HUN currently has a forward P/E ratio of 10.14, while ALB has a forward P/E of 65.59. We also note that HUN has a PEG ratio of 0.18. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. ALB currently has a PEG ratio of 3.04.
Another notable valuation metric for HUN is its P/B ratio of 1.86. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, ALB has a P/B of 4.29.
Based on these metrics and many more, HUN holds a Value grade of B, while ALB has a Value grade of D.
HUN has seen stronger estimate revision activity and sports more attractive valuation metrics than ALB, so it seems like value investors will conclude that HUN is the superior option right now.
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Huntsman Corporation (HUN) : Free Stock Analysis Report
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Zacks Investment Research
Chemical companies’ third-quarter results are expected to reflect the upturn in demand across major end-use industries from the coronavirus lows. The chemical industry faced the heat from a significant downturn in demand during the first half of 2020 as lockdowns and travel restrictions amid the pandemic brought global economic activities to a near-standstill.
However, with the reopening of the major economies around the world, demand for chemicals started to pick up from the third quarter last year on a rebound in economic activities worldwide. The recovery continued to gain steam this year on an upswing in global industrial activities.
Chemical companies are seeing a strong rebound in demand in key end-use markets including automotive, construction and electronics. Strong demand in automotive and construction, the two major chemical-consuming markets, is likely to have driven their volumes and top lines in the third quarter.
The automotive industry has witnessed a speedy recovery after the virus-led slump on the back of strong pent-up demand. Despite the semiconductor crunch, chemical makers are enjoying healthy demand from the automotive market.
The construction sector has also recovered on the restart of projects that were stalled earlier partly due to supply chain disruptions. Strength is being witnessed in residential construction globally, supported by lower interest rates and higher demand for new properties due to the rising trend of work from home. Companies in the chemical space are also expected to have benefited, in the third quarter, from higher demand for chemicals and materials across healthcare and packaging markets, thanks to coronavirus.
However, chemical companies’ third-quarter results are expected to reflect the impacts of raw material cost inflation as well as higher supply chain and logistics costs. Supply chain disruptions due to coronavirus and weather-related events have led to a spike in raw material costs. Supply tightness continues for a number of key raw materials, including several resins, natural gas, propylene, butadiene and glass fiber. The lingering impacts of supply chain and logistic bottlenecks, exacerbated by the recent unfavorable weather events globally and the resurgence of coronavirus infections, are expected to be reflected in the September quarter.
Hurricane Ida dealt another blow to the supply chain. Force majeures and plant shutdowns associated with Ida are expected to have further squeezed the supply of raw materials including ethylene and propylene and pushed up their prices, the impacts of which are likely to reflect on chemical companies’ third-quarter results.
Against this backdrop, chemical makers remain focused on self-help measures, including cost-cutting and productivity improvement, expansion into high-growth markets, restructuring, operational efficiency improvement, and actions to strengthen balance sheets and boost cash flows. A number of companies in this space have also been taking price increase actions to counter the cost inflation and tightness in the supply chain. Chemical companies also remain actively focused on acquisitions to diversify and drive growth. The benefits of these actions might reflect on their third-quarter results.
Among the chemical companies that have already come up with their quarterly numbers, we have seen solid earnings beats from prominent names such as Dow Inc. DOW and Celanese Corporation CE on the back of a demand strength in end-markets amid headwinds from supply-chain disruptions.
Expectations for Q3
The chemical industry is housed within the broader Zacks Basic Materials sector. Basic Materials is among the sectors that are expected to deliver positive earnings growth in the third quarter. Overall earnings for the sector are projected to rise 138% on 36.7% higher revenues, per the latest Earnings Trends.
How to Pick Winners?
Given the large number of players operating in the chemical space, picking the right stocks is apparently not an easy task. But our proprietary methodology makes it fairly simple. One can trim down the list with the combination of a favorable Zacks Rank — Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) — and a positive Zacks Earnings ESP. You can uncover the best stocks to buy or sell before they report with our Earnings ESP Filter.
Earnings ESP — the percentage difference between the Most Accurate Estimate and the Zacks Consensus Estimate — is our proprietary methodology for determining stocks that have high chances of delivering earnings surprises in their next announcements. Our research shows that for stocks with this combination, the chance of a positive earnings surprise is as much as 70%.
Our Choices
Below we list four chemical stocks that have the right combination of elements to pull off positive surprises this earnings season:
Westlake Chemical Corporation WLK has an Earnings ESP of +1.22% and a Zacks Rank #1. It is slated to report third-quarter results on Nov 2.
The company surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average being 21.1%. The Zacks Consensus Estimate for third-quarter earnings has been revised 1.6% upward over the last 60 days. The consensus estimate for third-quarter earnings is pegged at $3.91, which suggests a rise of 551.7% from the prior-year quarter. Westlake Chemical is likely to have benefited from higher demand in its polyethylene business in specialty applications, especially food packaging, and strength in global demand for PVC resin. Demand in the downstream building products business is expected to have remained strong in the quarter on new housing starts and spending on repair and remodeling activities.
Westlake Chemical Corporation Price and EPS Surprise
Westlake Chemical Corporation price-eps-surprise | Westlake Chemical Corporation Quote
Tronox Holdings plc TROX has an Earnings ESP of +0.38% and a Zacks Rank #1. It is scheduled to report third-quarter results on Oct 27. You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus mark for third-quarter earnings has been stable over the last 60 days. The Zacks Consensus Estimate for third-quarter earnings is pegged at 67 cents, which suggests a rise of a whopping 1,240% from the prior-year quarter. The company is likely to have benefited from price improvements in the third quarter, which is expected to have offset the volume weakness in TiO2 due to supplier and logistics constraints. Higher TiO2 and zircon prices are expected to have supported its margins.
Tronox Holdings PLC Price and EPS Surprise
Tronox Holdings PLC price-eps-surprise | Tronox Holdings PLC Quote
The Chemours Company CC has an Earnings ESP of +5.70% and carries a Zacks Rank #2. The company is scheduled to report third-quarter results on Nov 4.
The company surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average being 38.9%. The Zacks Consensus Estimate for third-quarter earnings has been stable over the last 60 days. The consensus estimate for third-quarter earnings is pegged at 97 cents, which suggests a rise of 106.4% from the prior-year quarter. The company is likely to have benefited from higher demand for Opteon, strong execution and cost-cutting measures. It is expected to have witnessed continued strong demand for Opteon in mobile and stationary applications in the third quarter. Productivity and operational improvement actions across its businesses are also likely to have supported margins.
The Chemours Company Price and EPS Surprise
The Chemours Company price-eps-surprise | The Chemours Company Quote
Albemarle Corporation ALB has an Earnings ESP of +8.73% and carries a Zacks Rank #3. The company is scheduled to report third-quarter results on Nov 3.
The company surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average being 22%. The Zacks Consensus Estimate for third-quarter earnings has been revised 2.7% upward over the last 60 days. The consensus estimate for third-quarter earnings is pegged at 75 cents. The company is likely to have benefited from higher lithium volumes on continued recovery in global economic activities, improved performance in its Catalysts unit and its cost-reduction actions in the quarter. Higher lithium prices are also expected to have aided its performance. Healthy customer orders and plant productivity improvements are like to have supported lithium volumes.
Albemarle Corporation Price and EPS Surprise
Albemarle Corporation price-eps-surprise | Albemarle Corporation Quote
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Westlake Chemical Corporation (WLK) : Free Stock Analysis Report
Dow Inc. (DOW) : Free Stock Analysis Report
Albemarle Corporation (ALB) : Free Stock Analysis Report
Celanese Corporation (CE) : Free Stock Analysis Report
Tronox Holdings PLC (TROX) : Free Stock Analysis Report
The Chemours Company (CC) : Free Stock Analysis Report
To read this article on Zacks.com click here.
CHARLOTTE, N.C., Oct. 22, 2021 /PRNewswire/ — Albemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, today announced its intent for strategic investments in China in support of the expansion of its lithium conversion capacity. The company recently signed investment agreements with the Yangtze River International Chemical Industrial Park in the Zhangjiagang Free Trade Zone (Jiangsu province), and the Pengshan Economic Development Park in the Pengshan District (Sichuan province).
"These agreements are important steps in our continued commitment to invest in new capacity that will support our customers' growth plans," said Eric Norris, President, Lithium. "We are excited to expand our network of high-quality, battery-grade hydroxide production capacity in China."
With these agreements, Albemarle will move forward with its design, engineering and permitting plans to build a conversion plant at each site, each of which has planned production capacity initially targeting 50,000 metric tons lithium hydroxide per annum. Subject to additional studies and approvals, it is expected these plants would start construction during 2022 and complete construction by the end of 2024.
"We are excited to work with our local teams in China to deliver Albemarle's next-generation lithium hydroxide plants," added Jac Fourie, Chief Capital Projects Officer. "These projects represent the next step in our Capital Excellence Program to capture benefits in speed to market, lower capital intensity, lower product cost, and improved sustainability."
About Albemarle
Albemarle Corporation (NYSE: ALB) is a global specialty chemicals company with leading positions in lithium, bromine and catalysts. We think beyond business as usual to power the potential of companies in many of the world's largest and most critical industries, such as energy, electronics, and transportation. We actively pursue a sustainable approach to managing our diverse global footprint of world-class resources. In conjunction with our highly experienced and talented global teams, our deep-seated values, and our collaborative customer relationships, we create value-added and performance-based solutions that enable a safer and more sustainable future.
We regularly post information to www.albemarle.com, including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, SEC filings and other information regarding our company, its businesses, and the markets it serves.
Forward-Looking Statements
Some of the information presented in this press release, including, without limitation, information related to expected capacity expansion, plans and anticipated benefits in relation to the capacity expansion, the targeted construction and completion dates for the capacity expansion and all other information relating to matters that are not historical facts may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from the views expressed herein. Factors that could cause actual results to differ materially from the outlook expressed or implied in any forward-looking statement include, without limitation: changes in economic and business conditions; changes priorities, financial, and operating performance of Albemarle's major customers and industries and markets served by Albemarle; the timing of orders received from customers; the gain or loss of significant customers; competition from other manufacturers; changes in the demand for Albemarle's products or the end-user markets in which its products are sold; the availability of financing; the satisfaction of conditions to completion, including regulatory approvals; the occurrence of regulatory actions, proceedings, claims, or litigation; and the other factors detailed from time to time in the reports Albemarle files with the SEC, including those described under "Risk Factors" in its Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. These forward-looking statements speak only as of the date of this press release. We assume no obligation to provide any revisions to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws.
View original content to download multimedia:https://www.prnewswire.com/news-releases/albemarle-signs-two-agreements-for-strategic-investments-in-china-to-expand-lithium-conversion-capacity-301406469.html
SOURCE Albemarle Corporation
Mosaic (MOS) closed at $42.17 in the latest trading session, marking a -0.71% move from the prior day. This change lagged the S&P 500's daily gain of 0.3%.
Prior to today's trading, shares of the fertilizer maker had gained 28% over the past month. This has outpaced the Basic Materials sector's gain of 7.79% and the S&P 500's gain of 4.28% in that time.
MOS will be looking to display strength as it nears its next earnings release, which is expected to be November 1, 2021. The company is expected to report EPS of $1.63, up 608.7% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.83 billion, up 60.82% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.02 per share and revenue of $12.48 billion, which would represent changes of +490.59% and +43.77%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for MOS. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 3.14% higher within the past month. MOS is currently a Zacks Rank #2 (Buy).
In terms of valuation, MOS is currently trading at a Forward P/E ratio of 8.47. This represents a discount compared to its industry's average Forward P/E of 14.81.
It is also worth noting that MOS currently has a PEG ratio of 1.21. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Fertilizers stocks are, on average, holding a PEG ratio of 1.53 based on yesterday's closing prices.
The Fertilizers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 3, putting it in the top 2% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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The Mosaic Company (MOS) : Free Stock Analysis Report
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Zacks Investment Research
Inaugural Mineral Resources reported under new U.S. S-K 1300 Standards
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Carolina Lithium Project total Mineral Resources increase to 44.2 Mt @ 1.08% Li2O
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Indicated Mineral Resources increased 101% to 28.2 Mt @ 1.11% Li2O for the Project
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DFS completion for the integrated 30,000 t/y LiOH Carolina Lithium Project expected within Q4 2021
BELMONT, N.C., October 21, 2021–(BUSINESS WIRE)–Piedmont Lithium Inc. (Nasdaq: PLL) ("Piedmont" or "Company") is pleased to announce an updated global Mineral Resource estimate ("MRE") (Table 1 attached) for the Company’s flagship Carolina Lithium Project in North Carolina, USA. The MRE includes updates for lithium and industrial mineral products. The total MRE for the project is 44.2 Mt @ 1.08% Li2O, with 64% of the total MRE classified in the Indicated category. The Mineral Resource estimate reported in accordance with the U.S. Securities and Exchange Commission S-K 1300 standards and the Australasian JORC Code (2012 Edition).
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211021005185/en/
Piedmont Increases Mineral Resources With Completion of Phase 5 Infill Drilling (Photo: Business Wire)
Keith D. Phillips, President and Chief Executive Officer, commented: "We are very pleased to have concluded our Phase 5 drill campaign and to further expand our world-class resource base. Carolina Lithium has one of the largest spodumene resources in North America, and the only one located in the United States. The increase in ‘Indicated’ resources of over 100% relative to resources previously reported under Australian standards, will underpin the definitive feasibility study for Carolina Lithium that we plan to publish later in 2021. The DFS will be another important step along the path to building America’s leading lithium business to support and enable the rapidly-growing electric vehicle supply chain in the United States."
To view the full release, click here.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211021005185/en/
Contacts
Keith Phillips
President & CEO
T: +1 973 809 0505
E: kphillips@piedmontlithium.com
Brian Risinger
VP – Investor Relations and Corporate Communications
T: +1 704 910 9688
E: brisinger@piedmontlithium.com
VANCOUVER, BC, Oct. 21, 2021 /CNW/ – The following issues have been halted by IIROC:
Company: Dajin Lithium Corp.
TSX-Venture Symbol: DJI
All Issues: Yes
Reason: At the Request of the Company Pending News
Halt Time (ET): 7:45 AM
IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – Halts/Resumptions
View original content: http://www.newswire.ca/en/releases/archive/October2021/21/c8347.html
Noront recommends shareholders accept improved BHP offer
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BHP increases its all-cash offer to Noront shareholders to C$0.75 per share, representing a 36% premium to its previous offer, a 7% premium to the Wyloo offer and a 213% premium to Noront’s unaffected price.
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Noront supports BHP’s improved offer and recommends shareholders tender now to receive the cash consideration offered.
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The BHP offer will be open until 11:59 p.m. (Toronto time) on November 9, 2021. Shareholders have 22 days to decide to accept the full and immediate value offered by BHP.
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BHP’s offer does not require Wyloo’s support to be successful.
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BHP’s all-cash offer provides certainty of value and liquidity.
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Offer expires 11:59 p.m. (Toronto time) on November 9, 2021; for more information visit NorontTender.ca
TORONTO and MELBOURNE, Victoria, Oct. 19, 2021 (GLOBE NEWSWIRE) — BHP Lonsdale Investments Pty Ltd (“BHP Lonsdale”), a wholly owned subsidiary of BHP, and Noront Resources Ltd. (TSXV: NOT) ("Noront") announced today that BHP has agreed to increase its all-cash offer for Noront shares to C$0.75 per share (the “Offer”).
The Noront Board, considering the superior C$0.75 per share cash purchase price in the amended Offer, has determined that the proposal from Wyloo Metals Pty Ltd. (“Wyloo”), at a price of C$0.70 per share, has ceased to be a "superior proposal", and recommends the Noront shareholders tender their shares to the BHP Offer.
Shareholders have until 11:59 p.m. (Toronto Time) on November 9, 2021 to accept the increased Offer and tender their shares.
Improved Premium & Highest All-Cash Offer Available to Shareholders
BHP’s increased Offer of C$0.75 per Noront share is superior to other offers available to Noront and its shareholders. BHP had the option to match Wyloo and elected to exceed Wyloo’s proposal by C$0.05. BHP’s increased offer delivers compelling value to Noront shareholders:
213% premium over Noront’s unaffected price of C$0.241
36% premium over BHP’s previous offer of C$0.55 per share
7% premium over Wyloo’s latest offer of C$0.70 per share
BHP Chief Development Officer, Johan van Jaarsveld, said: “Our increased offer of C$0.75 per share provides a compelling premium for Noront shareholders and is available to shareholders now. Our offer provides shareholders with the value inherent in Noront’s portfolio of projects, including the Eagle’s Nest project, delivering shareholders who accept our offer certainty of value and immediate liquidity.”
1 On May 21, 2021, the last trading day prior to Wyloo’s first publicly announced intention to make an offer for Noront at C$0.315 per share.
Certainty of Value Today; Protection from Execution & Dilution Risk
The Offer provides 100% cash consideration for Noront shares, providing Noront shareholders with certainty of value now while removing financing, market, regulatory and execution risks to Noront shareholders.
BHP recognizes that delivering Noront’s portfolio of projects in the Ring of Fire is expected to take many years, require significant capital investment, development of remote infrastructure, and management of numerous stakeholders. There is no certainty that shareholders remaining invested in Noront will ever realize the value for their shares offered by BHP in cash today.
Noront and BHP believe that the Offer provides Noront shareholders with the value inherent in Noront’s portfolio of projects without the long-term risks associated with the development and execution of those projects. Noront CEO, Alan Coutts, said: “This transaction provides a premium to Wyloo’s offer, and delivers certainty of value to Noront shareholders via an all-cash offer. Noront’s Board of Directors determined that BHP’s improved offer is in the best interests of the company and its shareholders and recommends Noront shareholders tender their shares to the BHP offer.”
Noront's Board of Directors, with input from its financial and legal advisors and the Special Committee, determined the improved offer is fair, from a financial point of view, to Noront shareholders (other than BHP Lonsdale and its affiliates).
The BHP Offer Does Not Require Wyloo’s Support
Wyloo’s support of the transaction is not required in order for the Offer to be successful. In order for Noront shareholders to receive the C$0.75 all-cash offer price for their shares, at least 50% of shares not owned by BHP must be tendered. Only those who tender their shares will receive the cash consideration of C$0.75 per share. If shareholders other than Wyloo support the Offer and tender their shares, the Offer will succeed.
BHP Chief Development Officer, Johan van Jaarsveld, said: “Now is the time for shareholders to decide if they want to tender to our improved offer and crystallize the compelling and full value it represents.”
To tender your shares, see shareholder information below.
For Noront shareholders
A notice of variation (the “Notice of Variation”) in respect of the Amended Offer will be mailed shortly to Noront shareholders and will be available under Noront’s profile on SEDAR at www.sedar.com and on Noront’s website at www.norontresources.com.
Tendering is quick and easy
Only those who tender their shares will receive the cash consideration of C$0.75 per share. For more information, please visit www.noronttender.ca.
Tender by 11:59 p.m. (Toronto time) on November 9, 2021
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How to tender your shares |
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Shareholder type: |
How do I tender my shares to BHP’s offer? |
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Beneficial |
Contact your bank or your broker’s corporate actions department immediately and instruct them to tender your shares to the Offer. |
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Registered |
Contact Kingsdale Advisors: |
About Noront Resources
Noront Resources Ltd. is focused on the development of its high-grade Eagle’s Nest nickel, copper, platinum and palladium deposit and the world class chromite deposits including Blackbird, Black Thor, and Big Daddy, all of which are located in the James Bay Lowlands of Ontario in an emerging metals camp known as the Ring of Fire. www.norontresources.com
About BHP
BHP is a world-leading global resources company. We extract and process minerals, oil and gas, with 80,000 employees and contractors, primarily in Australia and the Americas. Our products are sold worldwide, with sales and marketing led through Singapore and Houston, United States. Our global headquarters are in Melbourne, Australia. Our Potash head office is in Saskatoon and our head office for metals exploration is in Toronto.
Our corporate purpose is to bring people and resources together to build a better world. Our strategy is to create value by growing our exposure to a portfolio of world-class, expandable assets in future-facing commodities. We create value for our stakeholders and the communities where we operate by focusing on safety, sustainability, innovation and exceptional performance.
BHP has a strong track record in Canada
BHP has a strong track record of mining development and investment in Canada over several decades. We have invested in diamonds, potash, exploration, Carbon Capture and Storage (CCS) research, and in environmental preservation through the BHP Foundation in Canada’s boreal forest. We have built strong relationships with communities and stakeholders throughout our history in Canada. Earlier this year, BHP approved US$5.7 billion in investment for its Jansen project, for what stands to be one of the world’s largest, most modern potash mines and a significant economic driver for Saskatchewan.
www.bhp.com
Contact details
BHP
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Media Relations Email: media.relations@bhp.com |
Investor Relations Email: investor.relations@bhp.com |
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Australia and Asia Gabrielle Notley Europe, Middle East and Africa Neil Burrows Americas Judy Dane |
Australia and Asia Dinesh Bishop Europe, Middle East and Africa James Bell Americas Brian Massey |
Noront
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Media Relations |
Investor Relations |
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Ian Hamilton Janice Mandel |
Greg Rieveley |
Forward looking statements
Certain statements contained in this press release contain “forward-looking information” within the meaning of applicable securities laws and are prospective in nature. Forward-looking information and statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties that could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements.
Forward-looking statements include, but are not limited to, statements regarding: the Offer, including the anticipated timing, mechanics, funding, completion, settlement, results and effects of the Offer; reasons to accept the Offer; and the value inherent in Noront’s portfolio of projects, including the Eagle’s Nest project.
Although BHP Western Mining Resources International Pty Ltd (the “Offeror”), BHP Lonsdale and Noront believe that the expectations reflected in such forward-looking information and statements are reasonable, such information and statements involve risks and uncertainties, and undue reliance should not be placed on such information and statements. Material factors or assumptions that were applied in formulating the forward-looking information contained herein include, without limitation, the expectations and beliefs of the Offeror, BHP Lonsdale and Noront that the Offer will be successful, that all required regulatory consents and approvals will be obtained and all other conditions to completion of the transaction will be satisfied or waived, and the ability to achieve goals. The Offeror, BHP Lonsdale and Noront caution that the foregoing list of material factors and assumptions is not exhaustive. Many of these assumptions are based on factors and events that are not within the control of the Offeror, BHP Lonsdale or Noront, and there is no assurance that they will prove correct. Consequently, there can be no assurance that the actual results or developments anticipated by the Offeror, BHP Lonsdale or Noront will be realized or, even if substantially realized, that they will have the expected consequences for, or effects on, Noront, the Offeror or BHP Lonsdale, or their respective future results and performance.
Forward-looking information and statements in this press release are based on the Offeror’s, BHP Lonsdale’s and Noront’s beliefs and opinions at the time the statements are made, and there should be no expectation that these forward-looking statements will be updated or supplemented as a result of new information, estimates or opinions, future events or results or otherwise, and the Offeror, BHP Lonsdale and Noront disavow and disclaim any obligation to do so except as required by applicable law. Nothing contained herein shall be deemed to be a forecast, projection or estimate of the future financial performance of the Offeror or any of its affiliates or Noront.
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.
A founding director, northern aviation pioneer, prospector, and unique personality
LONDON, Ontario, October 20, 2021–(BUSINESS WIRE)–Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) ("Fortune" or the "Company") (www.fortuneminerals.com) is announcing with deep sorrow that Carl Clouter, one of the Company’s founding directors, passed away on October 15, 2021, at the age of 78 after a brave fight with cancer. Carl was part of the great Canadian legacy of northern bush pilots who provided the transportation link to isolated communities and exploration camps, and enabled access to remote areas of the North using its distinctive geography and plethora of lakes and ice for landing strips. Carl had a unique amiable charm and care-free disposition that will be sadly missed by everyone who knew him, now that he has "filed his final flight plan".
Carl Clouter was born in Catalina, Newfoundland, and raised in Gander, an important hub for trans-Atlantic aviation refueling. He started his career in the 2nd Battalion of the Black Watch (Royal Highland Regiment) of Canada, which he joined in 1962 and served for three years, including a deployment patrolling the Cold War border between East and West Germany. Self-admittedly feisty and a regimental boxer, he also had a gentle demeanor and was a talented singer. While on tour with the Canadian Tattoo, he met Elvis Presley and shared a stage with The Beatles.
Carl Clouter earned his pilot’s license and twin engine endorsement while working as a maintenance worker for Eastern Provincial Airways in Gander. He flew Canso water bombers and was a pilot for Premier Joey Smallwood. It was the smaller bush planes that captivated Carl’s love for flying and it was through flying these planes that he was introduced to the mining business, piloting charters for Noranda and other exploration companies. Water bombing took Carl to literally every corner of our vast country and after several trips to the Northwest Territories ("NWT"), he was offered a temporary position as the Chief Pilot for Air Dogrib in Fort Rae-Edzo (now "Behchoko") west of Yellowknife. He stayed in Behchoko for more than two decades and eventually established his own charter airline, "Edzo Air", where he could blend his passions for both flying and prospecting. In 1987, he piloted a charter flight for Robin Goad, who was in the process of starting Fortune. Carl vended one of his properties into the start-up and became a director and the Company’s northern representative. He subsequently staked the original NICO claims, which together with adjacent claims owned by Goad were transferred to Fortune and led to the discovery of the NICO Cobalt-Gold-Bismuth-Copper Deposit.
While living in Behchoko, Carl Clouter was approached by the RCMP to become a Sentencing Justice of the Peace. He studied law and blended this with his knowledge of Indigenous culture, performing one of the first circle sentences ever conducted under Canadian law.
In later years, Carl transitioned between Gander, Yellowknife and the NICO site, flying occasionally as a commercial pilot, but more typically at the controls of one of his own small airplanes, which included two rare Stinson float planes that he personally restored.
Fortune Minerals is profoundly saddened by Carl’s passing and this premature conclusion to an epic journey. The Company extends its most sincere and heartfelt condolences to Carl’s wife and family.
Drill Program Progressing
Fortune’s exploration drill program at the NICO project is continuing and the fifth hole is nearing completion. Assays are not anticipated to be received until several weeks after the conclusion of the program and will be reported when they become available.
The NICO project is comprised of a planned mine and concentrator in the Northwest Territories and a related hydrometallurgical refinery in southern Canada producing cobalt sulphate, gold doré, bismuth ingots and oxide, and a copper cement precipitate. NICO is a development stage project and one of the most advanced cobalt assets outside of the Democratic Republic of Congo ("DRC") to meet the growing demand in lithium-ion batteries powering electric vehicles, portable electronics and stationary storage cells, and mitigate supply chain issues from geographic concentration of production in the DRC and China and associated policy risks. The unique Critical Minerals assemblage of the NICO Deposit includes Mineral Reserves with primary cobalt, 12% of global bismuth reserves, by-product copper, as well as a highly liquid 1.1 million ounce in-situ gold co-product.
For more detailed information about the NICO Mineral Reserves and certain technical information in this news release, please refer to the Technical Report on the NICO Project, entitled "Technical Report on the Feasibility Study for the NICO-Gold-Cobalt-Bismuth-Copper Project, Northwest Territories, Canada", dated April 2, 2014 and prepared by Micon International Limited which has been filed on SEDAR and is available under the Company's profile at www.sedar.com. The disclosure of scientific and technical information contained in this news release has been approved by Robin Goad, M.Sc., P.Geo., President and Chief Executive Officer of Fortune who is a "Qualified Person" under National Instrument 43-101.
About Fortune Minerals:
Fortune is a Canadian mining company focused on developing the NICO Cobalt-Gold-Bismuth-Copper Project in the NWT. The Company has an option to purchase lands in Saskatchewan where it may build the hydrometallurgical plant to process NICO metal concentrates and is also evaluating other brownfield locations with existing facilities to reduce project capital and operating costs. In addition, Fortune owns the satellite Sue-Dianne Copper-Silver-Gold Deposit located 25 km north of the NICO Project mine site and is a potential future source of incremental mill feed to extend the life of the NICO mill and concentrator.
Follow Fortune Minerals:
Click here to subscribe to Fortune’s email list.
Click here to follow Fortune on LinkedIn.
@FortuneMineral on Twitter.
This press release contains forward-looking information and forward-looking statements within the meaning of applicable securities legislation. This forward-looking information includes statements with respect to, among other things, the Company’s 2021 drill program, the Company’s plans to develop the NICO Project and the potential for the Sue-Dianne property to provide incremental mill feed to the NICO Project. Forward-looking information is based on the opinions and estimates of management as well as certain assumptions at the date the information is given (including, in respect of the forward-looking information contained in this press release, assumptions regarding: the Company’s ability to conduct and complete the planned drill program; the Company’s ability to secure a site in southern Canada for the construction of a NICO Project refinery; the Company’s ability to arrange the necessary financing to continue operations and develop the NICO Project; the receipt of all necessary regulatory approvals for the construction and operation of the NICO Project and the related hydrometallurgical refinery and the timing thereof; growth in the demand for cobalt; the time required to construct the NICO Project; and the economic environment in which the Company will operate in the future, including the price of gold, cobalt and other by-product metals, anticipated costs and the volumes of metals to be produced at the NICO Project). However, such forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. These factors include the risks that the 2021 drill program may not result in a meaningful expansion of the NICO Deposit, the COVID-19 pandemic may interfere with the Company’s ability to conduct the drill program, the Company may not be able to secure a site for the construction of a refinery, the Company may not be able to finance and develop NICO on favourable terms or at all, uncertainties with respect to the receipt or timing of required permits, approvals and agreements for the development of the NICO Project, including the related hydrometallurgical refinery, the construction of the NICO Project may take longer than anticipated, the Company may not be able to secure offtake agreements for the metals to be produced at the NICO Project, the Sue-Dianne Property may not be developed to the point where it can provide mill feed to the NICO Project, the inherent risks involved in the exploration and development of mineral properties and in the mining industry in general, the market for products that use cobalt or bismuth may not grow to the extent anticipated, the future supply of cobalt and bismuth may not be as limited as anticipated, the risk of decreases in the market prices of cobalt, bismuth and other metals to be produced by the NICO Project, discrepancies between actual and estimated Mineral Resources or between actual and estimated metallurgical recoveries, uncertainties associated with estimating Mineral Resources and Reserves and the risk that even if such Mineral Resources prove accurate the risk that such Mineral Resources may not be converted into Mineral Reserves once economic conditions are applied, the Company’s production of cobalt, bismuth and other metals may be less than anticipated and other operational and development risks, market risks and regulatory risks. Readers are cautioned to not place undue reliance on forward-looking information because it is possible that predictions, forecasts, projections and other forms of forward-looking information will not be achieved by the Company. The forward-looking information contained herein is made as of the date hereof and the Company assumes no responsibility to update or revise it to reflect new events or circumstances, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211020005743/en/
Contacts
For further information please contact:
Fortune Minerals Limited
Troy Nazarewicz
Investor Relations Manager
info@fortuneminerals.com
Tel: (519) 858-8188
www.fortuneminerals.com
MISSISSAUGA, Ontario, Oct. 20, 2021 (GLOBE NEWSWIRE) — Canada Carbon Inc. (the “Company”) (TSX-V:CCB), (FF:U7N1) announces that its Chief Executive Officer (“CEO”), Olga Nikitovic, will be resigning from this position effective December 15, 2021. Olga also fulfills the role as the Company’s Chief Financial Officer (“CFO”) and will be resigning from this position on December 15, 2021 as well. The Company acknowledges the significant contribution to Canada Carbon Inc. that Olga made during her 14-year tenure as CFO.
Olga accepted the position of interim CEO for Canada Carbon upon the death of her husband, the Company’s former CEO, R. Bruce Duncan, last year. She has communicated to the Board of Canada Carbon that “personal family matters” is the reason for her pending departure.
The Board of Canada Carbon assures shareholders that, in conjunction with Olga, it will immediately commence planning for Olga’s succession and a positive go-forward strategy for the success of Canada Carbon Inc. Olga will remain active within Canada Carbon as its CEO until December 15.
The Company will miss Olga immensely. She did an excellent job of keeping Canada Carbon on track with its objectives and working hard for its shareholders, following the sudden death of her husband Bruce last year.
Respectfully,
The Board of Directors
Canada Carbon Inc.
For further information:
Olga Nikitovic
CEO
Canada Carbon Inc.
info@canadacarbon.com
“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”
FORWARD LOOKING 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).
/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES./
TORONTO, Oct. 20, 2021 /CNW/ – First Cobalt Corp. (TSXV: FCC) (the "Company") is pleased to announce that it has received notice of the full exercise of a US$7.5 million option by investors in the Company's recently completed offering of 6.95% senior secured convertible notes due December 1, 2026 (the "Notes").
Pursuant to subscription agreements entered into between the Company and each investor on August 23, 2021 with respect to the Notes, each investor had the right to subscribe for additional Notes, pro rata, for an aggregate additional principal amount of up to US$7.5 million. The additional Notes are expected to be issued on October 22, 2021.
The offering of Notes was led by Cantor Fitzgerald & Co., as sole placement agent.
For additional information with respect to the Notes and the terms thereof, refer to the Company's news releases dated August 23, August 24, and September 3, 2021, the Company's material change report dated September 2, 2021, and the indenture governing the Notes, each of which is publicly available under the Company's SEDAR profile at www.sedar.com.
"We are happy to have the continued support from the Noteholders. This is a great vote of confidence in the team's ability to create long-term shareholder value as we continue to move our refinery project forward toward commissioning, set for Q4'2022; at which point we'll be North America's only source of high-quality, sustainable and traceable battery grade cobalt sulfate", said Chief Financial Officer, Ryan Snyder.
The Company intends to use the aggregate net proceeds of the option exercise for capital expenditures associated with the expansion and recommissioning of its wholly-owned hydrometallurgical refinery located in Ontario, Canada (the "Refinery"), including buildings, equipment, infrastructure, and other direct costs, as well as engineering and project management costs.
The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any applicable U.S. state securities laws, and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer or sale would be unlawful.
About First Cobalt
First Cobalt's mission is to be a producer of diversified high-quality and sustainable battery materials for the North American battery supply chain. The Company owns a permitted hydrometallurgical refinery in Ontario, Canada, a critical asset in the development and manufacturing of batteries for electric vehicles. First Cobalt also owns the Iron Creek cobalt-copper project in Idaho, USA as well as several significant cobalt and silver properties in the Canadian Cobalt Camp.
On behalf of First Cobalt Corp.
Trent Mell
President & Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This news release may contain forward-looking statements and forward-looking information (together, "forward- looking statements") within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements. Specifically, statements with respect to the use of proceeds of the exercise of the investor option, the development of the Refinery, and other matters ancillary or incidental to the foregoing are forward looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects', "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved". Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance and opportunities to differ materially from those implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements are set forth in the management discussion and analysis and other disclosures of risk factors for the Company, filed on SEDAR at www.sedar.com, and are included in the Base Shelf Prospectus and the Prospectus Supplement. Although the Company believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
SOURCE First Cobalt Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2021/20/c4643.html
READING, Pa., Oct. 20, 2021 (GLOBE NEWSWIRE) — EnerSys (NYSE: ENS) the global leader in stored energy solutions for industrial applications will host a conference call to discuss the Company’s second quarter of fiscal 2022 financial results and to provide an overview of the business. The call will conclude with a question and answer session.
The call, scheduled for Thursday, November 11, 2021 beginning at 9:00 a.m. Eastern Time, will be hosted by David M. Shaffer, Chief Executive Officer, and Michael J. Schmidtlein, Chief Financial Officer.
A live webcast of the conference call will be available on the Company’s website at http://www.enersys.com under the "Investor Relations" link. Presentation materials to be used in conjunction with the conference call will become available under the aforementioned link the evening before the conference call. There will be a free download of a compatible media player on the company’s website at http://www.enersys.com.
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The conference call information is: |
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Thursday, November 11, 2021 |
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Time: |
9:00 a.m. Eastern Time |
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Via Internet: |
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Domestic Dial-In Number: |
877-359-9508 |
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International Dial-In Number: |
224-357-2393 |
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5173634 |
A replay of the conference call will be available from 12:00 p.m. on November 11, 2021 through 12:00 p.m. on December 11, 2021.
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The replay information is: |
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Via Internet: |
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855-859-2056 |
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404-537-3406 |
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5173634 |
For more information, contact Michael J. Schmidtlein, Chief Financial Officer, EnerSys, P.O. Box 14145, Reading, PA 19612-4145, USA. Tel: 610-236-4040 or by emailing investorrelations@enersys.com.
About EnerSys:
EDITOR'S NOTE: EnerSys, the global leader in stored energy solutions for industrial applications, manufactures and distributes energy systems solutions and motive power batteries, specialty batteries, battery chargers, power equipment, battery accessories and outdoor equipment enclosure solutions to customers worldwide. Energy Systems, which combine enclosures, power conversion, power distribution and energy storage, are used in the telecommunication, broadband and utility industries, uninterruptible power supplies, and numerous applications requiring stored energy solutions. Motive power batteries and chargers are utilized in electric forklift trucks and other industrial electric powered vehicles. Specialty batteries are used in aerospace and defense applications, large over-the-road trucks, premium automotive, medical and security systems applications. EnerSys also provides aftermarket and customer support services to its customers in over 100 countries through its sales and manufacturing locations around the world. With the NorthStar acquisition, EnerSys has solidified its position as the market leader for premium Thin Plate Pure Lead batteries which are sold across all three lines of business.
More information regarding EnerSys can be found at www.enersys.com.
Vancouver, British Columbia–(Newsfile Corp. – October 20, 2021) – The board of International Lithium Corp. (TSXV: ILC) (the "Company" or "ILC") is pleased to announce the completion of its transaction to sell its remaining interest in the Mariana project.
The Company announced on September 21, 2021 that it had contracted to sell its remaining 8.58% stake in Litio Minera Argentina S.A. and the Company's remaining rights and obligations related to the Mariana project to ILC's partner Ganfeng Lithium. The deal included confirmation that Litio Minera Argentina would assume all rights or obligations that the Company had in respect of the Mariana property. On October 4, 2021, the Company announced that it expected this sale to complete in mid-October. Completion has now taken place, and the Company has received from Ganfeng Lithium a net cash consideration of USD 10m being USD 13.17m less principal and interest on an exploration loan of USD 3.17m.
John Wisbey, Chairman and CEO of International Lithium Corp. commented:
"We are of course pleased that this transaction has now successfully completed, and that we have the cash resources to progress our other plans quickly without dependency on funding. ILC is now in by far the strongest financial position that it has been since its listing in 2011, and we look forward to building successfully on that both at our lithium and rubidium project at Raleigh Lake in Ontario and on our other present and future projects. Sincere thanks are due to those shareholders and colleagues who have helped the Company to progress to this point."
About International Lithium Corp.
International Lithium Corp. believes that the '20s will be the decade of battery metals, at a time that the world faces a significant turning point in the energy market's dependence on oil and gas and in the governmental and public view of climate change. Our key mission in this decade is to make money for our shareholders from lithium and rare metals while at the same time helping to create a greener, cleaner planet. This includes optimizing the value of our existing projects in Canada and Ireland as well as finding, exploring and developing projects that have the potential to become world class lithium and rare metal deposits. In addition, we have seen the clear and growing wish by the USA and Canada to safeguard their supplies of critical battery metals, and our Canadian Raleigh Lake property is strategic in that respect.
A key goal has been to become a well funded company to turn our aspirations into reality, and following the disposal of the Mariana project in Argentina in 2021, which is the subject of this announcement, the Board of the Company believe that ILC is well placed in that respect.
International Lithium Corp. has a significant portfolio of projects, strong management, and strong partners. Partners include Ganfeng Lithium Co. Ltd., ("Ganfeng Lithium") a leading China-based lithium product manufacturer quoted on the Shenzhen and Hong Kong stock exchanges (A share code: 002460, H share code: 1772) and Essential Metals Limited, quoted on the Australian Stock Exchange.
The Company's primary strategic focus is now on the Raleigh Lake lithium and rubidium project in Canada and on identifying additional properties.
The Raleigh Lake project now consists of over 17,000 hectares (170 square kilometres) of adjoining mineral claims in Ontario, and is regarded by ILC management as ILC's most significant project in Canada. The exploration results there so far, which are on only about 5% of ILC's current claims, has shown significant quantities of rubidium and caesium in the pegmatite as well as lithium. Raleigh Lake is 100% owned by ILC, is not subject to any encumbrances, and is royalty free.
Complementing the Company's rare metal pegmatite property at Raleigh Lake, are interests in two other rare metal pegmatite properties in Ontario, Canada known as the Mavis Lake and Forgan Lake projects, and the Avalonia project in Ireland, which encompasses an extensive 50-km-long pegmatite belt.
The ownership of the Mavis Lake project is now 51% Essential Metals Limited ("ESS") and 49% ILC. In addition, ILC owns a 1.5% NSR on Mavis Lake. ESS has an option to earn an additional 29% by sole-funding a further CAD $8.5 million expenditures of exploration activities, at which time the ownership will be 80% ESS and 20% ILC.
The Forgan Lake project will, upon Ultra Resources Inc. meeting its contractual requirements pursuant to its agreement with ILC, become 100% owned by Ultra Resources, and ILC will retain a 1.5% NSR on Forgan Lake.
The ownership of the Avalonia project is currently 55% Ganfeng Lithium and 45% ILC. Ganfeng Lithium has an option to earn an additional 24% by either incurring CAD $ 10 million expenditures on exploration activities by September 2024 or delivering a positive feasibility study on the project, at which time the ownership will be 79% Ganfeng Lithium and 21% ILC.
With the increasing demand for high tech rechargeable batteries used in electric vehicles and electrical storage as well as portable electronics, lithium has been designated "the new oil", and is a key part of a "green tech" sustainable economy. By positioning itself with projects with significant resource potential and with solid strategic partners, ILC aims to be one of the lithium and rare metals resource developers of choice for investors and to continue to build value for its shareholders in the '20s, the decade of battery metals.
On behalf of the Company,
John Wisbey
Chairman and CEO
For further information concerning this news release please contact +1 604-449-6520
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
Except for statements of historical fact, this news release or other releases contain certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information or forward-looking statements in this or other news releases may include: the effect of results of anticipated production rates, the timing and/or anticipated results of drilling on the Raleigh Lake or Avalonia projects, the expectation of resource estimates, preliminary economic assessments, feasibility studies, lithium or rubidium or caesium recoveries, modeling of capital and operating costs, results of studies utilizing various technologies at the company's projects, budgeted expenditures and planned exploration work on the Avalonia Joint Venture, satisfactory completion of the sale of mineral rights at Forgan Lake, increased value of shareholder investments, and assumptions about ethical behaviour by our joint venture partners where we have them. Such forward-looking information is based on a number of assumptions and subject to a variety of risks and uncertainties, including but not limited to those discussed in the sections entitled "Risks" and "Forward-Looking Statements" in the interim and annual Management's Discussion and Analysis which are available at www.sedar.com. While management believes that the assumptions made are reasonable, there can be no assurance that forward-looking statements will prove to be accurate. Should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Forward-looking information herein, and all subsequent written and oral forward-looking information are based on expectations, estimates and opinions of management on the dates they are made that, while considered reasonable by the Company as of the time of such statements, are subject to significant business, economic, legislative, and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect and are expressly qualified in their entirety by this cautionary statement. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100288
DENVER, CO / ACCESSWIRE / October 20, 2021 / Solitario Zinc Corp. ("Solitario") (NYSE American:XPL)(TSX:SLR) is pleased to announce that it has discovered multiple areas displaying significant gold mineralization at surface on its Golden Crest project. Based on these results, and its ongoing exploration program, Solitario has expanded its land position from approximately 11,600 acres to 18,500 acres of mineral rights located in western South Dakota.
Initial sampling has been conducted on nine prospect areas. Three of the prospect areas returned assays containing multi-gram per tonne gold, another three prospects returned assays containing between 0.1 and one-gram gold and the last three sampled areas contained assays with detectable gold between 10 and 100 ppb. The most thoroughly sampled areas to date are the Whirlwind, Matchstick and Treasure Vault prospects that define a 6.5-kilometer north-south arcuate trend at least 1.5-kilometers across with significant gold values. See Sample Location Map here). A summary table of gold in rock samples by prospect area is provided below:
|
Prospect |
No of Samples* |
Au ppb (max) |
Au ppb (avg)** |
|
Buena Vista |
9 |
106 |
30 |
|
Yellow Jacket |
15 |
132 |
30 |
|
Shoofly |
33 |
64 |
14 |
|
Treasure Vault |
44 |
3,990 |
516 |
|
Matchstick |
111 |
3,700 |
260 |
|
Whirlwind |
139 |
7,990 |
402 |
|
Citadel |
60 |
30 |
13 |
|
11th Hour Gulch |
12 |
10 |
7 |
|
Maurice |
10 |
349 |
85 |
|
* See Sampling Methodology and Quality Control section ** Average of samples with detectable gold |
|||
"These assay results exceeded our expectations and further support our belief that significant gold deposits similar to Wharf District deposits are possible, if not likely, within the underlying Paleozoic-aged limestones on our property holdings. Additionally, Precambrian gold deposits similar to those of the Super Giant Homestake deposit are also possible," said Solitario President and CEO Chris Herald. "It is remarkable that within the 6.5-kilometer long Whirlwind-Matchstick-Treasure Vault trend that contains widespread multi-gram rock samples, not one historic prospect pit has been identified, much less more recognizable indications of earlier exploration, such as drilling. The altered and geochemically enriched surface rocks are not obviously mineralized and covered by vegetation and soil, which may explain the lack of past prospecting. The pathfinder trace elements arsenic, molybdenum, antimony and thallium are highly enriched, suggesting links to a major magmatic-hydrothermal system at depth. This is truly a new district-scale gold anomaly in the shadow of a Super Giant gold district."
"Adding the Golden Crest gold project to our two high-grade zinc assets, creates a company with a compelling value proposition in zinc and an exciting green fields gold exploration property situated in an exceptional emerging gold belt that is virtually unexplored," he added.
These mineral claims comprise a strategic land holding which Solitario believes represents a western extension of the mineralization at the Homestake-Wharf mining complex that has produced in excess of 50 million ounces of gold with another estimated 20-30 million ounces in historical resources (non-NI-43-101 compliant). The project area is in a historically mining-friendly jurisdiction with highly developed infrastructure, an unbroken 145-year record of continuous gold mining, a skilled mining workforce and a history of high-grade, underground mineable gold deposits.
Zinc Property Update
Regarding the zinc segment of our business, we note that zinc prices are recording multi-year high prices – in excess of $1.60 per pound. Over the next several weeks, we will be meeting with our two joint venture partners, Teck Resources (Lik high-grade zinc deposit) and Nexa Resources (Florida Canyon high-grade zinc deposit) to develop exploration plans for 2022.
Sampling Methodology, Chain of Custody, Quality Control and Assurance
All surface rock samples were collected or supervised by project geologists, including chain of custody. Samples were select grab samples that display alteration, usually silicification and hydrothermal brecciation. These samples were derived mainly from in-place residually weathered rock fragments, sub-crop, and less common, outcrop. The significance of these samples is limited to determining whether or not gold or trace elements usually associated with gold, were present within rocks affected by hydrothermal alteration fluids and does not verify economically mineable mineralization at depth.
Samples were sent to Skyline Assayers & Laboratories in Tucson, AZ. The samples were crushed, pulverized and sample pulps were analyzed using industry standard fire assay methods. A blank or certified reference material was inserted approximately every 20th sample. Data verification of the analytical results included a statistical analysis of the standards and blanks that must pass certain parameters for acceptance to ensure accurate and verifiable results.
Walter Hunt, COO of Solitario, is a qualified person as defined by NI 43-101, Standards of Disclosure for Mineral Projects, responsible for approving the scientific and technical information contained in this news release.
About Solitario
Solitario is an emerging zinc and gold exploration and development company traded on the NYSE American ("XPL") and on the Toronto Stock Exchange ("SLR"). In addition to its newly acquired Golden Crest properties, Solitario holds 50% joint venture interest (Teck Resources 50%) in the high-grade, open-pittable Lik zinc deposit in Alaska and a 39% joint venture interest (Nexa Resources holds the remaining 61% interest) on the high-grade Florida Canyon zinc project in Peru. Solitario's Management and Directors hold approximately 9.3% (excluding options) of the Company's 58.6 million shares outstanding. Solitario's cash balance and marketable securities stand at approximately US$5.5 million. Additional information about Solitario is available online at www.solitariozinc.com.
For More Information Please Contact:
Valerie Kimball
Director – Investor Relations
(720) 933-1150
(800) 229-6827
Christopher E. Herald
President & CEO
(303) 534-1030, Ext. 14
Cautionary Statement Regarding Forward Looking Information
This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933 and the U.S. Securities Exchange Act of 1934, and as defined in the United States Private Securities Litigation Reform Act of 1995 (and the equivalent under Canadian securities laws),that are intended to be covered by the safe harbor created by such sections. Forward-looking statements are statements that are not historical fact. They are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and address activities, events or developments that Solitario expects or anticipates will or may occur in the future, and are based on current expectations and assumptions. Forward-looking statements involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Solitario's Golden Crest land position does not cover any of the areas of historical gold production or historical unmined resources, but are thought to be on trend with these known areas of mineralization. The presence of nearby mineralization or formerly operated mines do not signify that economic deposits are present on the Company's mining claims. Certain historical information concerning exploration and gold production in the Black Hills region has been obtained through both public and private sources and are believed to be substantially factual, but Solitario can give no assurances of the accuracy of such information. Such forward-looking statements include, without limitation, statements regarding the Company's expectation of the projected timing and outcome of engineering studies; expectations regarding the receipt of all necessary permits and approvals to implement a mining plan, if any, at Lik or Florida Canyon; the potential for confirming, upgrading and expanding zinc, lead and silver mineralized material; future operating and capital cost estimates may indicate that the stated resources may not be economic; estimates of zinc, lead and silver grades of resources provided are predicted and actual mining grade could be substantially lower; estimates of recovery rates for could be lower than estimated for establishing the cutoff grade; and other statements that are not historical facts could vary significantly from assumptions made in the PEA. Although Solitario management believes that its expectations are based on reasonable assumptions, it can give no assurance that these expectations will prove correct. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, among others, risks relating to risks that Solitario's and its joint venture partners' exploration and property advancement efforts will not be successful; risks relating to fluctuations in the price of zinc, lead and silver; the inherently hazardous nature of mining-related activities; uncertainties concerning reserve and resource estimates; availability of outside contractors, and other activities; uncertainties relating to obtaining approvals and permits from governmental regulatory authorities; the possibility that environmental laws and regulations will change over time and become even more restrictive; and availability and timing of capital for financing the Company's exploration and development activities, including uncertainty of being able to raise capital on favorable terms or at all; as well as those factors discussed in Solitario's filings with the U.S. Securities and Exchange Commission (the "SEC") including Solitario's latest Annual Report on Form 10-K and its other SEC filings (and Canadian filings) including, without limitation, its latest Quarterly Report on Form 10-Q. The Company does not intend to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws.
SOURCE: Solitario Zinc Corp.
View source version on accesswire.com:
https://www.accesswire.com/668840/Solitario-Discovers-Multiple-Areas-with-Significant-Gold-Mineralization-on-Its-Golden-Crest-Project-Expands-Land-Position
VANCOUVER, British Columbia, Oct. 19, 2021 (GLOBE NEWSWIRE) — Canasil Resources Inc. (TSX-V: CLZ, DB Frankfurt: 3CC, “Canasil” or the “Company”) announces a non-brokered private placement (the “Placement”) of up to 4,000,000 units (the Units”) at a price of $0.125 per Unit for total gross proceeds of up to $500,000 to fund drill programs on the Company’s silver-gold projects in Durango and Zacatecas States, Mexico. A finder’s fee may be paid with respect to all or part of this Placement. The terms of the Placement are subject to acceptance by the TSX Venture Exchange.
Each Unit will consist of one common share of the Company and one half of one non-transferable share purchase warrant. Each whole warrant (a “Warrant”) will be exercisable to purchase one additional common share of the Company at a price of $0.20 during the first year, increasing to $0.25 in year two following the closing of the offering.
The proceeds of the Placement will be used to fund continued drill programs on the Company’s silver-gold exploration projects in Durango and Zacatecas States, Mexico, and for working capital.
About Canasil:
Canasil is a Canadian mineral exploration company with a strong portfolio of 100% owned silver-gold-copper-lead-zinc exploration projects in Durango and Zacatecas States, Mexico, and in British Columbia, Canada. The Company’s directors and management include industry professionals with a track record of identifying and advancing successful mineral exploration projects through to discovery and further development. The Company is actively engaged in the exploration of its mineral properties, and maintains an operating subsidiary in Durango, Mexico, with full time geological and support staff for its operations in Mexico.
For further information please contact:
Bahman Yamini
President and C.E.O.
Canasil Resources Inc.
Tel: (604) 709-0109
www.canasil.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the 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 “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
Inaugural annual report highlights company's philanthropic contributions and results
CHARLOTTE, N.C., Oct. 19, 2021 /PRNewswire/ — Albemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, announced today that the Albemarle Foundation has released its first-ever annual Community Impact Report. The report offers insight into the Foundation's programs, distributions, and success stories in communities from around the world.
"In this Community Impact Report, we showcase remarkable efforts of our employees, retirees, board members and partner agencies to translate our mission into meaningful actions throughout 2020," said Sandra Holub, Executive Director, Albemarle Foundation. "It is inspiring to see this compilation of our company values in action to grow the good in our communities."
The Albemarle Foundation was created in 2007 as a privately endowed 501c3 entity with a mission to make a positive, sustainable difference in communities where the company operates. Its philanthropic efforts support education, health and social services, and cultural initiatives through grants, matching grants, volunteer grants, and scholarships. The Foundation also supports the Albemarle Care Fund to assist employees who have been impacted by catastrophic circumstances or natural disaster.
In 2020, the Albemarle Foundation distributed more than $5.6 million in grants. Since its inception in 2007, the organization has distributed more than $46 million in grants.
For a complete review of Albemarle Foundation's 2020 Community Impact Report, please visit https://www.albemarle.com/about/albemarle-foundation.
About Albemarle
Albemarle Corporation (NYSE: ALB) is a global specialty chemicals company with leading positions in lithium, bromine, and catalysts. We think beyond business as usual to power the potential of companies in many of the world's largest and most critical industries, such as energy, electronics, and transportation. We actively pursue a sustainable approach to managing our diverse global footprint of world-class resources. In conjunction with our highly experienced and talented global teams, our deep-seated values, and our collaborative customer relationships, we create value-added and performance-based solutions that enable a safer and more sustainable future.
We regularly post information to www.albemarle.com, including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, SEC filings and other information regarding our company, its businesses and the markets it serves.
View original content to download multimedia:https://www.prnewswire.com/news-releases/albemarle-foundation-publishes-2020-community-impact-report-301403902.html
SOURCE Albemarle Corporation
SAN DIEGO, October 19, 2021–(BUSINESS WIRE)–Shareholder rights law firm Robbins LLP announces it is investigating Piedmont Lithium Inc. f/k/a Piedmont Lithium Limited (NASDAQ: PLL) to determine whether certain Piedmont officers and directors violated the Securities Exchange Act of 1934 and breached their fiduciary duties to the Company. Piedmont engages in the exploration and development of resource projects and holds a 100% interest in a lithium project covering 2,322 acres in North Carolina.
If you would like more information about Piedmont Lithium Inc.'s misconduct, click here.
Piedmont Lithium Inc. (PLL) is Accused of Misleading Investors Regarding its Timeliness in Obtaining Permits
According to a class action complaint filed on behalf of purchasers of Piedmont between March 16, 2018 and July 19, 2021, defendants touted its plan to mine in North Carolina and warned of the risks associated with the Company's failure to obtain the necessary permits. In 2019, the Company informed investors it had submitted "key permit applications," was in the process of "secur[ing] the necessary permits and approvals to commence mining and processing operations," and "look[ed] forward to deliver a DFS for a fully permitted integrated project by the end of 2020." However, by January 2021, the Company had not secured the proper permits to begin its project.
On July 20, 2021, Reuters published an article explaining that while the Company announced a deal to supply Tesla Inc. with lithium sourced from its deposits in North Carolina, it had done nothing to obtain state mining permits or zoning variance in Gaston County. The article also highlighted the deteriorating relationship between Piedmont and county leaders. On this news, Piedmont shares fell $12.56 per share, or nearly 20%, to close at $50.52 per share on July 20, 2021, damaging investors.
Piedmont Lithium Inc. (PLL) shareholders have legal options. If you own shares of Piedmont Lithium Inc., contact us to learn more about your rights.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
Contact us to learn more:
Aaron Dumas
(800) 350-6003
adumas@robbinsllp.com
Shareholder Information Form
About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. To be notified if a class action against Piedmont Lithium Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today.
Attorney Advertising. Past results do not guarantee a similar outcome.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211019006232/en/
Contacts
Aaron Dumas
Robbins LLP
5040 Shoreham Place
San Diego, CA 92122
adumas@robbinsllp.com
(800) 350-6003
www.robbinsllp.com
The lithium stock reversed losses from the previous day after yet another analyst turned bullish on electric vehicles.
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says 'The biggest investment risk is not the volatility of prices, but whether you will suffer a permanent loss of capital.' It's only natural to consider a company's balance sheet when you examine how risky it is, since debt is often involved when a business collapses. We note that Gem Diamonds Limited (LON:GEMD) does have debt on its balance sheet. But the real question is whether this debt is making the company risky.
When Is Debt A Problem?
Debt and other liabilities become risky for a business when it cannot easily fulfill those obligations, either with free cash flow or by raising capital at an attractive price. Part and parcel of capitalism is the process of 'creative destruction' where failed businesses are mercilessly liquidated by their bankers. However, a more frequent (but still costly) occurrence is where a company must issue shares at bargain-basement prices, permanently diluting shareholders, just to shore up its balance sheet. Of course, plenty of companies use debt to fund growth, without any negative consequences. The first step when considering a company's debt levels is to consider its cash and debt together.
View our latest analysis for Gem Diamonds
How Much Debt Does Gem Diamonds Carry?
The image below, which you can click on for greater detail, shows that Gem Diamonds had debt of US$14.7m at the end of June 2021, a reduction from US$23.6m over a year. But it also has US$33.9m in cash to offset that, meaning it has US$19.2m net cash.
A Look At Gem Diamonds' Liabilities
We can see from the most recent balance sheet that Gem Diamonds had liabilities of US$43.1m falling due within a year, and liabilities of US$112.0m due beyond that. Offsetting these obligations, it had cash of US$33.9m as well as receivables valued at US$6.55m due within 12 months. So its liabilities total US$114.6m more than the combination of its cash and short-term receivables.
This is a mountain of leverage relative to its market capitalization of US$116.4m. Should its lenders demand that it shore up the balance sheet, shareholders would likely face severe dilution. Despite its noteworthy liabilities, Gem Diamonds boasts net cash, so it's fair to say it does not have a heavy debt load!
Even more impressive was the fact that Gem Diamonds grew its EBIT by 406% over twelve months. If maintained that growth will make the debt even more manageable in the years ahead. There's no doubt that we learn most about debt from the balance sheet. But it is future earnings, more than anything, that will determine Gem Diamonds's ability to maintain a healthy balance sheet going forward. So if you're focused on the future you can check out this free report showing analyst profit forecasts.
Finally, while the tax-man may adore accounting profits, lenders only accept cold hard cash. Gem Diamonds 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. In the last three years, Gem Diamonds created free cash flow amounting to 4.2% of its EBIT, an uninspiring performance. That limp level of cash conversion undermines its ability to manage and pay down debt.
Summing up
Although Gem Diamonds's balance sheet isn't particularly strong, due to the total liabilities, it is clearly positive to see that it has net cash of US$19.2m. And it impressed us with its EBIT growth of 406% over the last year. So we don't have any problem with Gem Diamonds's use of debt. There's no doubt that we learn most about debt from the balance sheet. However, not all investment risk resides within the balance sheet – far from it. Be aware that Gem Diamonds is showing 2 warning signs in our investment analysis , and 1 of those shouldn't be ignored…
When all is said and done, sometimes its easier to focus on companies that don't even need debt. Readers can access a list of growth stocks with zero net debt 100% free, right now.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. 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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