The big shareholder groups in Greatland Gold plc (LON:GGP) have power over the company. Institutions will often hold stock in bigger companies, and we expect to see insiders owning a noticeable percentage of the smaller ones. Companies that used to be publicly owned tend to have lower insider ownership.

With a market capitalization of UK£884m, Greatland Gold is a decent size, so it is probably on the radar of institutional investors. Our analysis of the ownership of the company, below, shows that institutions own shares in the company. Let's take a closer look to see what the different types of shareholders can tell us about Greatland Gold.

View our latest analysis for Greatland Gold

What Does The Institutional Ownership Tell Us About Greatland Gold?

Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing.

We can see that Greatland Gold does have institutional investors; and they hold a good portion of the company's stock. This suggests some credibility amongst professional investors. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at Greatland Gold's earnings history below. Of course, the future is what really matters.

Hedge funds don't have many shares in Greatland Gold. The company's largest shareholder is HBOS Investment Fund Managers Limited, with ownership of 9.1%. In comparison, the second and third largest shareholders hold about 6.5% and 4.2% of the stock. In addition, we found that Gervaise Robert Heddle, the CEO has 2.0% of the shares allocated to his name

On studying our ownership data, we found that 25 of the top shareholders collectively own less than 50% of the share register, implying that no single individual has a majority interest.

While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. While there is some analyst coverage, the company is probably not widely covered. So it could gain more attention, down the track.

Insider Ownership Of Greatland Gold

The definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it.

Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances.

Our most recent data indicates that insiders own some shares in Greatland Gold plc. This is a big company, so it is good to see this level of alignment. Insiders own UK£43m worth of shares (at current prices). It is good to see this level of investment by insiders. You can check here to see if those insiders have been buying recently.

General Public Ownership

The general public holds a 48% stake in Greatland Gold. This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders.

Next Steps:

I find it very interesting to look at who exactly owns a company. But to truly gain insight, we need to consider other information, too. Take risks for example – Greatland Gold has 6 warning signs (and 1 which is a bit concerning) we think you should know about.

If you would prefer discover what analysts are predicting in terms of future growth, do not miss this free report on analyst forecasts.

NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.

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

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

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

TORONTO, Sept. 15, 2020 (GLOBE NEWSWIRE) — CANSTAR RESOURCES INC. (TSXV: ROX) (“Canstar Resources” or the “Company”) is pleased to announce the appointment of Rob Bruggeman as Director and President & CEO of the Company, effective immediately. The Company’s Board of Directors is now comprised of David Palmer, Sam Leung, Patrick Reid, Dennis Peterson and Rob Bruggeman. The Company is also pleased to announce that it has closed the first tranche of the non-brokered private placement for gross proceeds of up to $2.0 million, as announced on September 2, 2020 (the “Offering”).

New CEO and Director

Rob Bruggeman has worked in senior management and consulting roles with mining companies for the past eight years and has invested extensively in the mining sector. Currently, he is Chairman of the Board of AbraPlata Resource Corp., a TSX-Venture listed company focused on silver-gold exploration in Argentina. Prior to joining the mining sector, Mr. Bruggeman spent more than 10 years working in equities research and institutional equities sales & trading roles at several brokerage firms, including five years with TD Securities as VP, Trading Strategy & Research. Mr. Bruggeman is a licensed Professional Engineer (Ontario) and a CFA charter holder.

Mr. Bruggeman commented: “Canstar has an excellent platform for mineral exploration in Newfoundland. I look forward to working with the Canstar team, as well as the technical team from Altius Minerals, on advancing the exploration of Canstar’s district-scale properties in the province. I am especially excited about exploration on the newly optioned Golden Baie Project in south Newfoundland, given the exceptional gold grades discovered at surface recently.”

Canstar would like to thank Mr. Dennis Peterson for his dedication as Interim CEO. Mr. Peterson will continue to serve as Chairman of the Company’s Board of Directors.

First Tranche of Private Placement

The first tranche of the Offering consists of an aggregate of 4,761,920 units (each a “Part & Parcel Unit”) at a price of $0.105 per Part & Parcel Unit for gross proceeds of $500,001.60. Each Part & Parcel Unit was comprised of one (1) common share in the capital of the Company and one common share purchase warrant (a "Warrant") at an exercise price of $0.21 per Warrant for two years from the date of issuance. Canstar intends to close a further $1,500,000 in subscriptions in a second tranche of the Offering, for an aggregate total amount of approximately $2,000,000.

The Company intends to use the net proceeds raised from the Offering for general corporate purposes, working capital, and exploration expenses on the Company’s properties, including Buchan’s/Mary March, Daniel’s Harbour, and Golden Baie. In particular, the proceeds from the sale of Part & Parcel Units will be used to fund the exploration expenditure commitment on the Golden Baie project, subject to the approval of the TSX Venture Exchange (the “TSXV”).

Directors and management of the Company acquired an aggregate of 1,820,050 Part & Parcel Units in the Offering for aggregate proceeds of approximately $191,100, which participation constituted a "related party transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). Such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the Part & Parcel Units acquired by the insiders, nor the consideration for the Part & Parcel Units paid by such insiders, exceed 25% of the Company's market capitalization.

No finder’s fees were paid on the Offering. All securities issued pursuant to the Offering are subject to the applicable statutory hold period of four months and one day from the closing. The Offering is subject to the final approval of the TSX Venture Exchange.

About Canstar Resources Inc.

Canstar Resources is a mineral exploration and development company focused on creating shareholder value through discovery and development of economic mineral deposits in Newfoundland, Canada. Canstar is in the process of completing option agreements on the Golden Baie Project in south Newfoundland, a large claim package (660 km²) with recently discovered, multiple outcropping gold occurrences. The Company also holds the Buchans-Mary March project and other mineral exploration properties in Newfoundland and Labrador, Canada. Canstar Resources is based in Toronto, Canada and is listed on the TSX Venture Exchange and trades under the symbol ROX-V.

For further information, please contact:

Rob Bruggeman P.Eng., CFA
President & CEO
Email: rob@canstarresources.com
Phone: 1-416-884-3556
www.canstarresources.com

Forward-Looking Statements

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions, as well as the anticipated size of the Offering, the Offering price, the anticipated closing date and the completion of the Offering, the anticipated use of the net proceeds from the Offering and the receipt of all necessary approvals. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, an inability to complete the Offering on the terms or on the timeline as announced or at all, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Whilst it may not be a huge deal, we thought it was good to see that the Oklo Resources Limited (ASX:OKU) MD, CEO & Director, Simon Taylor, recently bought AU$103k worth of stock, for AU$0.26 per share. However, it only increased their shares held by 7.3%, and it wasn't a huge purchase by absolute value, either.

Check out our latest analysis for Oklo Resources

The Last 12 Months Of Insider Transactions At Oklo Resources

Notably, that recent purchase by Simon Taylor is the biggest insider purchase of Oklo Resources shares that we've seen in the last year. That means that an insider was happy to buy shares at around the current price of AU$0.30. Of course they may have changed their mind. But this suggests they are optimistic. If someone buys shares at well below current prices, it's a good sign on balance, but keep in mind they may no longer see value. Happily, the Oklo Resources insiders decided to buy shares at close to current prices.

Oklo Resources insiders may have bought shares in the last year, but they didn't sell any. Their average price was about AU$0.20. We don't deny that it is nice to see insiders buying stock in the company. However, we do note that they were buying at significantly lower prices than today's share price. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!

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

Insider Ownership of Oklo Resources

Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. A high insider ownership often makes company leadership more mindful of shareholder interests. Oklo Resources insiders own about AU$17m worth of shares. That equates to 11% of the company. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.

So What Do The Oklo Resources Insider Transactions Indicate?

It is good to see the recent insider purchase. And the longer term insider transactions also give us confidence. However, we note that the company didn't make a profit over the last twelve months, which makes us cautious. Insiders likely see value in Oklo Resources shares, given these transactions (along with notable insider ownership of the company). In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Oklo Resources. Case in point: We've spotted 4 warning signs for Oklo Resources you should be aware of, and 2 of them shouldn't be ignored.

But note: Oklo Resources may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.

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

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

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

We often see insiders buying up shares in companies that perform well over the long term. On the other hand, we'd be remiss not to mention that insider sales have been known to precede tough periods for a business. So shareholders might well want to know whether insiders have been buying or selling shares in Peel Mining Limited (ASX:PEX).

Do Insider Transactions Matter?

It's quite normal to see company insiders, such as board members, trading in company stock, from time to time. However, such insiders must disclose their trading activities, and not trade on inside information.

We would never suggest that investors should base their decisions solely on what the directors of a company have been doing. But equally, we would consider it foolish to ignore insider transactions altogether. For example, a Harvard University study found that 'insider purchases earn abnormal returns of more than 6% per year'.

See our latest analysis for Peel Mining

The Last 12 Months Of Insider Transactions At Peel Mining

The Executive Director of Mining & Director James Simpson made the biggest insider purchase in the last 12 months. That single transaction was for AU$520k worth of shares at a price of AU$0.17 each. Even though the purchase was made at a significantly lower price than the recent price (AU$0.27), we still think insider buying is a positive. Because it occurred at a lower valuation, it doesn't tell us much about whether insiders might find today's price attractive.

Peel Mining insiders may have bought shares in the last year, but they didn't sell any. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!

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

Insiders at Peel Mining Have Bought Stock Recently

Over the last three months, we've seen significant insider buying at Peel Mining. In total, insiders bought AU$1.0m worth of shares in that time, and we didn't record any sales whatsoever. This is a positive in our book as it implies some confidence.

Insider Ownership of Peel Mining

Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. I reckon it's a good sign if insiders own a significant number of shares in the company. Insiders own 15% of Peel Mining shares, worth about AU$13m, according to our data. But they may have an indirect interest through a corporate structure that we haven't picked up on. Overall, this level of ownership isn't that impressive, but it's certainly better than nothing!

So What Does This Data Suggest About Peel Mining Insiders?

The recent insider purchases are heartening. And an analysis of the transactions over the last year also gives us confidence. But on the other hand, the company made a loss during the last year, which makes us a little cautious. Given that insiders also own a fair bit of Peel Mining we think they are probably pretty confident of a bright future. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. Be aware that Peel Mining is showing 5 warning signs in our investment analysis, and 2 of those are significant…

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

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

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

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

We often see insiders buying up shares in companies that perform well over the long term. On the other hand, we'd be remiss not to mention that insider sales have been known to precede tough periods for a business. So before you buy or sell Aspire Mining Limited (ASX:AKM), you may well want to know whether insiders have been buying or selling.

Do Insider Transactions Matter?

Most investors know that it is quite permissible for company leaders, such as directors of the board, to buy and sell stock in the company. However, such insiders must disclose their trading activities, and not trade on inside information.

We don't think shareholders should simply follow insider transactions. But logic dictates you should pay some attention to whether insiders are buying or selling shares. For example, a Columbia University study found that 'insiders are more likely to engage in open market purchases of their own company’s stock when the firm is about to reveal new agreements with customers and suppliers'.

Check out our latest analysis for Aspire Mining

Aspire Mining Insider Transactions Over The Last Year

Over the last year, we can see that the biggest insider purchase was by insider Tserenpuntsag Tserendamba for AU$34m worth of shares, at about AU$0.021 per share. Even though the purchase was made at a significantly lower price than the recent price (AU$0.078), we still think insider buying is a positive. Because it occurred at a lower valuation, it doesn't tell us much about whether insiders might find today's price attractive.

Over the last year, we can see that insiders have bought 1.60b shares worth AU$34m. On the other hand they divested 693.66k shares, for AU$63k. In total, Aspire Mining insiders bought more than they sold over the last year. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. By clicking on the graph below, you can see the precise details of each insider transaction!

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

Aspire Mining Insiders Are Selling The Stock

Over the last three months, we've seen a bit of insider selling at Aspire Mining. In total, insiders sold AU$63k worth of shares in that time. But the good news is that Non-Executive Chairman David Paull bought AU$37k worth. While it's not great to see insider selling, the net amount sold isn't enough for us to want to read anything into it.

Insider Ownership of Aspire Mining

Many investors like to check how much of a company is owned by insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. Aspire Mining insiders own 61% of the company, currently worth about AU$24m based on the recent share price. I like to see this level of insider ownership, because it increases the chances that management are thinking about the best interests of shareholders.

What Might The Insider Transactions At Aspire Mining Tell Us?

We note that there's been a little more insider selling than buying, recently. But the difference is small, and thus, not concerning. But insiders have shown more of an appetite for the stock, over the last year. It would be great to see more insider buying, but overall it seems like Aspire Mining insiders are reasonably well aligned (owning significant chunk of the company's shares) and optimistic for the future. So while it's helpful to know what insiders are doing in terms of buying or selling, it's also helpful to know the risks that a particular company is facing. Our analysis shows 4 warning signs for Aspire Mining (1 is significant!) and we strongly recommend you look at these before investing.

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

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

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

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

Most readers would already be aware that Copper Strike's (ASX:CSE) stock increased significantly by 15% over the past three months. Given the company's impressive performance, we decided to study its financial indicators more closely as a company's financial health over the long-term usually dictates market outcomes. In this article, we decided to focus on Copper Strike's ROE.

Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. In short, ROE shows the profit each dollar generates with respect to its shareholder investments.

See our latest analysis for Copper Strike

How To Calculate Return On Equity?

ROE can be calculated by using the formula:

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

So, based on the above formula, the ROE for Copper Strike is:

17% = AU$565k ÷ AU$3.4m (Based on the trailing twelve months to June 2020).

The 'return' is the yearly profit. That means that for every A$1 worth of shareholders' equity, the company generated A$0.17 in profit.

Why Is ROE Important For Earnings Growth?

We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. Depending on how much of these profits the company reinvests or "retains", and how effectively it does so, we are then able to assess a company’s earnings growth potential. Assuming everything else remains unchanged, the higher the ROE and profit retention, the higher the growth rate of a company compared to companies that don't necessarily bear these characteristics.

Copper Strike's Earnings Growth And 17% ROE

At first glance, Copper Strike seems to have a decent ROE. Further, the company's ROE compares quite favorably to the industry average of 12%. This certainly adds some context to Copper Strike's exceptional 38% net income growth seen over the past five years. We believe that there might also be other aspects that are positively influencing the company's earnings growth. For example, it is possible that the company's management has made some good strategic decisions, or that the company has a low payout ratio.

Next, on comparing Copper Strike's net income growth with the industry, we found that the company's reported growth is similar to the industry average growth rate of 34% in the same period.

Earnings growth is a huge factor in stock valuation. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. This then helps them determine if the stock is placed for a bright or bleak future. One good indicator of expected earnings growth is the P/E ratio which determines the price the market is willing to pay for a stock based on its earnings prospects. So, you may want to check if Copper Strike is trading on a high P/E or a low P/E, relative to its industry.

Is Copper Strike Using Its Retained Earnings Effectively?

Given that Copper Strike doesn't pay any dividend to its shareholders, we infer that the company has been reinvesting all of its profits to grow its business.

Summary

In total, we are pretty happy with Copper Strike's performance. Particularly, we like that the company is reinvesting heavily into its business, and at a high rate of return. Unsurprisingly, this has led to an impressive earnings growth. If the company continues to grow its earnings the way it has, that could have a positive impact on its share price given how earnings per share influence long-term share prices. Not to forget, share price outcomes are also dependent on the potential risks a company may face. So it is important for investors to be aware of the risks involved in the business. You can see the 4 risks we have identified for Copper Strike by visiting our risks dashboard for free on our platform here.

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

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

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

TORONTO, Sept. 02, 2020 (GLOBE NEWSWIRE) — CANSTAR RESOURCES INC. (TSXV: ROX) (“Canstar Resources” or the “Company”) announces that, further to its press release dated August 26, 2020, it is amending the terms (the “Amendment”) of its proposed non-brokered private placement for aggregate gross proceeds of up to $2,000,000 (the “Offering”).

Pursuant to the Amendment, Canstar Resources intends to complete the Offering in two tranches. The first tranche will consist of the sale of up to 4,761,905 units (“Part & Parcel Units”) at a price of $0.105 per Part & Parcel Unit, for gross proceeds of up to $500,000. Each Part & Parcel Unit will be comprised of one common share in the equity of the Company (each, a “Common Share”) and one Common Share purchase warrant (each, a “Part & Parcel Warrant”). Each Part & Parcel Warrant will entitle the subscriber to purchase one additional Common Share at a price of $0.14 until the second (2^nd) anniversary of the closing date of the Offering.

The second tranche will consist of the sale of up to 9,523,810 units (“Regular Units”) at a price of $0.1575 per Regular Unit, for gross proceeds of up to $1,500,000. Each Regular Unit will be comprised of one Common Share and one Common Share purchase warrant (each, a “Regular Warrant”). Each Regular Warrant will entitle the subscriber to purchase one additional Common Share at a price of $0.21 until the second (2^nd) anniversary of the closing date of the Offering.

The Company intends to use the net proceeds raised from the Offering for general corporate purposes, working capital, and exploration expenses on the Company’s properties, including Buchan’s/Mary March, Daniel’s Harbour, and Golden Baie. In particular, the proceeds from the sale of Part & Parcel Units will be used to fund the exploration expenditure commitment on the Golden Baie project, subject to the approval of the TSX Venture Exchange and the closing of this transaction as announced on August 26, 2020.

The Company may pay finder's fees in respect to the Offering. Closing of the Offering is expected on or about September 15, 2020. The Offering is subject to the final approval of the TSX Venture Exchange. Securities issued pursuant to the Offering shall be subject to a four-month plus one day hold period commencing on the day of the closing of the Offering under applicable Canadian securities laws.

It is expected that certain directors, officers and other insiders of the Company (collectively, the “Insiders”) will participate in the Offering. The participation of Insiders in the Offering constitutes a “related party transaction”, as such terms are defined by Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying on an exemption from the formal valuation requirements of MI 61-101 available on the basis of the securities of the Company not being listed on specified markets, including the Toronto Stock Exchange, the New York Stock Exchange, the American Stock Exchange, the NASDAQ or certain overseas stock exchanges. The Company is also relying on the exemption from minority shareholder approval requirements under MI 61-101 as the fair market value of the participation in the Offering by the Insiders does not exceed 25% of the market capitalization of the Company.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. 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.

About Canstar Resources Inc.

Canstar Resources is a mineral exploration and development company focused on creating shareholder value through discovery and development of economic mineral deposits in Newfoundland, Canada. Canstar is in the process of completing option agreements on the Golden Baie Project in south Newfoundland, a large claim package (660 km²) with recently discovered, multiple outcropping gold occurrences. The Company also holds the Buchans-Mary March project and other mineral exploration properties in Newfoundland and Labrador, Canada. Canstar Resources is based in Toronto, Canada and is listed on the TSX Venture Exchange and trades under the symbol ROX-V.

For further information, please contact:

Dennis H. Peterson
Chairman of the Board, Interim President and Chief Executive Officer
Email: info@canstarresources.com
www.canstarresources.com

Forward-Looking Statements

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions, as well as the anticipated size of the Offering, the Offering price, the anticipated closing date and the completion of the Offering, the anticipated use of the net proceeds from the Offering, the closing of the Golden Baie property transaction on the terms as announced or at all, and the receipt of all necessary approvals. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, an inability to complete the Offering on the terms or on the timeline as announced or at all, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

There's no doubt that money can be made by owning shares of unprofitable businesses. For example, although software-as-a-service business Salesforce.com lost money for years while it grew recurring revenue, if you held shares since 2005, you'd have done very well indeed. Having said that, unprofitable companies are risky because they could potentially burn through all their cash and become distressed.

So, the natural question for Arafura Resources (ASX:ARU) shareholders is whether they should be concerned by its rate of cash burn. In this report, we will consider the company's annual negative free cash flow, henceforth referring to it as the 'cash burn'. Let's start with an examination of the business' cash, relative to its cash burn.

See our latest analysis for Arafura Resources

How Long Is Arafura Resources' Cash Runway?

You can calculate a company's cash runway by dividing the amount of cash it has by the rate at which it is spending that cash. When Arafura Resources last reported its balance sheet in June 2020, it had zero debt and cash worth AU$23m. Importantly, its cash burn was AU$12m over the trailing twelve months. Therefore, from June 2020 it had roughly 23 months of cash runway. While that cash runway isn't too concerning, sensible holders would be peering into the distance, and considering what happens if the company runs out of cash. However, if we extrapolate the company's recent cash burn trend, then it would have a longer cash run way. Depicted below, you can see how its cash holdings have changed over time.

How Is Arafura Resources' Cash Burn Changing Over Time?

In our view, Arafura Resources doesn't yet produce significant amounts of operating revenue, since it reported just AU$58k in the last twelve months. Therefore, for the purposes of this analysis we'll focus on how the cash burn is tracking. With cash burn dropping by 17% it seems management feel the company is spending enough to advance its business plans at an appropriate pace. Clearly, however, the crucial factor is whether the company will grow its business going forward. For that reason, it makes a lot of sense to take a look at our analyst forecasts for the company.

How Easily Can Arafura Resources Raise Cash?

While Arafura Resources is showing a solid reduction in its cash burn, it's still worth considering how easily it could raise more cash, even just to fuel faster growth. Companies can raise capital through either debt or equity. One of the main advantages held by publicly listed companies is that they can sell shares to investors to raise cash and fund growth. By comparing a company's annual cash burn to its total market capitalisation, we can estimate roughly how many shares it would have to issue in order to run the company for another year (at the same burn rate).

Since it has a market capitalisation of AU$90m, Arafura Resources' AU$12m in cash burn equates to about 13% of its market value. As a result, we'd venture that the company could raise more cash for growth without much trouble, albeit at the cost of some dilution.

Is Arafura Resources' Cash Burn A Worry?

The good news is that in our view Arafura Resources' cash burn situation gives shareholders real reason for optimism. One the one hand we have its solid cash burn relative to its market cap, while on the other it can also boast very strong cash runway. While we're the kind of investors who are always a bit concerned about the risks involved with cash burning companies, the metrics we have discussed in this article leave us relatively comfortable about Arafura Resources' situation. Separately, we looked at different risks affecting the company and spotted 5 warning signs for Arafura Resources (of which 1 shouldn't be ignored!) you should know about.

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

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

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

In this article we are going to estimate the intrinsic value of Hillgrove Resources Limited (ASX:HGO) by taking the expected future cash flows and discounting them to today's value. One way to achieve this is by employing the Discounted Cash Flow (DCF) model. Before you think you won't be able to understand it, just read on! It's actually much less complex than you'd imagine.

Companies can be valued in a lot of ways, so we would point out that a DCF is not perfect for every situation. Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model.

View our latest analysis for Hillgrove Resources

The model

We have to calculate the value of Hillgrove Resources slightly differently to other stocks because it is a metals and mining company. In this approach dividends per share (DPS) are used, as free cash flow is difficult to estimate and often not reported by analysts. This often underestimates the value of a stock, but it can still be good as a comparison to competitors. We use the Gordon Growth Model, which assumes dividend will grow into perpetuity at a rate that can be sustained. The dividend is expected to grow at an annual growth rate equal to the 5-year average of the 10-year government bond yield of 2.3%. We then discount this figure to today's value at a cost of equity of 9.1%. Compared to the current share price of AU$0.05, the company appears about fair value at a 19% discount to where the stock price trades currently. The assumptions in any calculation have a big impact on the valuation, so it is better to view this as a rough estimate, not precise down to the last cent.

Value Per Share = Expected Dividend Per Share / (Discount Rate – Perpetual Growth Rate)

= AU$0.01 / (9.1% – 2.3%)

= AU$0.06

Important assumptions

Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows. If you don't agree with these result, have a go at the calculation yourself and play with the assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Hillgrove Resources as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 9.1%, which is based on a levered beta of 1.137. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.

Next Steps:

Whilst important, the DCF calculation ideally won't be the sole piece of analysis you scrutinize for a company. DCF models are not the be-all and end-all of investment valuation. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" For instance, if the terminal value growth rate is adjusted slightly, it can dramatically alter the overall result. For Hillgrove Resources, we've put together three additional elements you should explore:

1. Risks: Case in point, we've spotted 3 warning signs for Hillgrove Resources you should be aware of.

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

3. Other Environmentally-Friendly Companies: Concerned about the environment and think consumers will buy eco-friendly products more and more? Browse through our interactive list of companies that are thinking about a greener future to discover some stocks you may not have thought of!

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

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

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

TORONTO, Aug. 28, 2020 (GLOBE NEWSWIRE) — McChip Resources Inc. (“McChip” or the “Company”) (TSX-V:MCS) announces that, on August 25, 2020 it acquired units consisting of 1,000,000 flow-through shares and 1,000,000 flow-through warrants resulting in McChip’s collective holdings of 10,497,000 shares and 6,333,333 warrants in the capital of Taranis Resources Inc. (the “Reporting Issuer”), a TSX-V listed company. These warrants entitle McChip to purchase flow-through shares of the Reporting Issuer as follows:

(a) 2,000,000 warrants are exercisable at $0.15 per share until September 18, 2020,

(b) 2,000,000 warrants are exercisable at $0.10 per share until August 28, 2021,

(c) 1,000,000 warrants are exercisable at $0.15 per share until August 25, 2022, and

(d) 1,333,333 warrants are exercisable at $0.15 per share until December 29, 2022.

Immediately prior to the acquisition, McChip owned 9,497,000 Shares representing approximately 13.36% of the then issued and outstanding Shares. The recent acquisition increases McChip’s position in the Shares of the Reporting Issuer by 1,000,000 Shares to 10,497,000 Shares or approximately 14.26% of the current issued and outstanding Shares of the Reporting Issuer.

The securities were acquired by means of a private placement. McChip has acquired the shares for investment purposes, and may acquire further Shares, or dispose of its holding of the Shares, both as investment conditions warrant. The reporting issuer is listed on the TSX Venture Exchange under the symbol “TRO”.

About McChip
McChip celebrates eighty five years of continual business operations in 2020 Prior to a name change in 1981 the company operated as Madsen Red Lake Gold Mines Limited. The company is listed on the TSX Venture Exchange and has 5,660,096 common shares issued and outstanding.

For further information contact:

Edward G. Dumond
Corporate Secretary
McChip Resources Inc.
416 364-2173

Neither the TSX 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.

Certain statements in this news release constitute “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information contained in forward-looking statements can be identified by the use of words such as “are expected”, “is forecast”, “is targeted”, “approximately”, “plans”, “anticipates”, “projects”, “continue”, “estimate”, “believe” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. This news release contains forward-looking information regarding: (i) the expectations relating to whether a transaction will be consummated, including, without limitation, whether conditions to the consummation of the transaction will be satisfied, or the timing for completing the transaction; and (ii) expectations for the effects of the transaction or the ability of the Company to successfully achieve business objectives, including the effects of unexpected costs, liabilities or delays, and if the transaction is completed, the ability of the Company to allocate the net proceeds as stated above. Forward-looking information involves a number of known and unknown risks and uncertainties, which, if incorrect, may cause actual results to differ materially from those anticipated by the Company, including, without limitation, the risks that the transaction as described in the Agreement may not be completed and the parties may be unable to realize on the anticipated benefits of the transaction. Accordingly, readers should not place undue reliance on forward-looking information.

For additional information with respect to these and other factors and assumptions underlying the forward-looking information made in this news release, see the Company’s most recent management's discussion and analysis, as well as other public disclosure documents that can be accessed under the issuer profile of “McChip Resources Inc.” on SEDAR at www.sedar.com. The forward-looking information set forth herein reflects the Company’s reasonable expectations as at the date of this news release and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. The forward-looking information contained in this news release is expressly qualified by this cautionary statement.

Bisichi PLC's (LON:BISI) price-to-earnings (or "P/E") ratio of 6.6x might make it look like a strong buy right now compared to the market in the United Kingdom, where around half of the companies have P/E ratios above 17x and even P/E's above 35x are quite common. Nonetheless, we'd need to dig a little deeper to determine if there is a rational basis for the highly reduced P/E.

For instance, Bisichi's receding earnings in recent times would have to be some food for thought. One possibility is that the P/E is low because investors think the company won't do enough to avoid underperforming the broader market in the near future. If you like the company, you'd be hoping this isn't the case so that you could potentially pick up some stock while it's out of favour.

Check out our latest analysis for Bisichi

Want the full picture on earnings, revenue and cash flow for the company? Then our free report on Bisichi will help you shine a light on its historical performance.

How Is Bisichi's Growth Trending?

Bisichi's P/E ratio would be typical for a company that's expected to deliver very poor growth or even falling earnings, and importantly, perform much worse than the market.

If we review the last year of earnings, dishearteningly the company's profits fell to the tune of 68%. Even so, admirably EPS has lifted 118% in aggregate from three years ago, notwithstanding the last 12 months. Although it's been a bumpy ride, it's still fair to say the earnings growth recently has been more than adequate for the company.

In contrast to the company, the rest of the market is expected to decline by 3.8% over the next year, which puts the company's recent medium-term positive growth rates in a good light for now.

With this information, we find it very odd that Bisichi is trading at a P/E lower than the market. It looks like most investors are not convinced at all that the company can maintain its recent positive growth rate in the face of a shrinking broader market.

The Final Word

While the price-to-earnings ratio shouldn't be the defining factor in whether you buy a stock or not, it's quite a capable barometer of earnings expectations.

Our examination of Bisichi revealed its growing earnings over the medium-term aren't contributing to its P/E anywhere near as much as we would have predicted, given the market is set to shrink. We think potential risks might be placing significant pressure on the P/E ratio and share price. Perhaps there is some hesitation about the company's ability to stay its recent course and swim against the current of the broader market turmoil. It appears many are indeed anticipating earnings instability, because this relative performance should normally provide a boost to the share price.

Having said that, be aware Bisichi is showing 4 warning signs in our investment analysis, and 1 of those is concerning.

If these risks are making you reconsider your opinion on Bisichi, explore our interactive list of high quality stocks to get an idea of what else is out there.

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

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

With the business potentially at an important milestone, we thought we'd take a closer look at Mincor Resources NL's (ASX:MCR) future prospects. Mincor Resources NL engages in the exploration, development, and mining of mineral resources in Australia. The company’s loss has recently broadened since it announced a AU$13.7m loss in the full financial year, compared to the latest trailing-twelve-month loss of AU$16.3m, moving it further away from breakeven. As path to profitability is the topic on Mincor Resources' investors mind, we've decided to gauge market sentiment. Below we will provide a high-level summary of the industry analysts’ expectations for the company.

View our latest analysis for Mincor Resources

Consensus from 3 of the Australian Metals and Mining analysts is that Mincor Resources is on the verge of breakeven. They anticipate the company to incur a final loss in 2021, before generating positive profits of AU$40m in 2022. So, the company is predicted to breakeven approximately 2 years from now. What rate will the company have to grow year-on-year in order to breakeven on this date? Using a line of best fit, we calculated an average annual growth rate of 64%, which signals high confidence from analysts. Should the business grow at a slower rate, it will become profitable at a later date than expected.

We're not going to go through company-specific developments for Mincor Resources given that this is a high-level summary, though, keep in mind that typically a metal and mining business has lumpy cash flows which are contingent on the natural resource mined and stage at which the company is operating. So, a high growth rate is not out of the ordinary, particularly when a company is in a period of investment.

One thing we’d like to point out is that Mincor Resources has no debt on its balance sheet, which is quite unusual for a cash-burning metals and mining company, which typically has high debt relative to its equity. The company currently operates purely off its shareholder funding and has no debt obligation, reducing concerns around repayments and making it a less risky investment.

Next Steps:

There are too many aspects of Mincor Resources to cover in one brief article, but the key fundamentals for the company can all be found in one place – Mincor Resources' company page on Simply Wall St. We've also compiled a list of pertinent aspects you should look at:

1. Valuation: What is Mincor Resources worth today? Has the future growth potential already been factored into the price? The intrinsic value infographic in our free research report helps visualize whether Mincor Resources is currently mispriced by the market.

2. Management Team: An experienced management team on the helm increases our confidence in the business – take a look at who sits on Mincor Resources’s board and the CEO’s background.

3. Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore our free list of these great stocks here.

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

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

We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. Unfortunately, there are also plenty of examples of share prices declining precipitously after insiders have sold shares. So shareholders might well want to know whether insiders have been buying or selling shares in Empire Resources Limited (ASX:ERL).

Do Insider Transactions Matter?

It's quite normal to see company insiders, such as board members, trading in company stock, from time to time. However, rules govern insider transactions, and certain disclosures are required.

Insider transactions are not the most important thing when it comes to long-term investing. But equally, we would consider it foolish to ignore insider transactions altogether. For example, a Columbia University study found that 'insiders are more likely to engage in open market purchases of their own company’s stock when the firm is about to reveal new agreements with customers and suppliers'.

Check out our latest analysis for Empire Resources

The Last 12 Months Of Insider Transactions At Empire Resources

Over the last year, we can see that the biggest insider purchase was by Non-Executive Chairman Michael Ruane for AU$158k worth of shares, at about AU$0.099 per share. So it's clear an insider wanted to buy, even at a higher price than the current share price (being AU$0.014). While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. We always take careful note of the price insiders pay when purchasing shares. Generally speaking, it catches our eye when insiders have purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price.

While Empire Resources insiders bought shares during the last year, they didn't sell. The average buy price was around AU$0.014. Although they bought at below the recent share price, it is good to see that insiders are willing to invest in the company. The chart below shows insider transactions (by companies and individuals) over the last year. If you want to know exactly who sold, for how much, and when, simply click on the graph below!

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

Insiders at Empire Resources Have Bought Stock Recently

Over the last three months, we've seen significant insider buying at Empire Resources. Not only was there no selling that we can see, but they collectively bought AU$71k worth of shares. This makes one think the business has some good points.

Does Empire Resources Boast High Insider Ownership?

Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. I reckon it's a good sign if insiders own a significant number of shares in the company. Insiders own 16% of Empire Resources shares, worth about AU$2.0m. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.

So What Do The Empire Resources Insider Transactions Indicate?

It is good to see recent purchasing. We also take confidence from the longer term picture of insider transactions. Given that insiders also own a fair bit of Empire Resources we think they are probably pretty confident of a bright future. While we like knowing what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. Be aware that Empire Resources is showing 6 warning signs in our investment analysis, and 3 of those make us uncomfortable…

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

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

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

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

Conductive targets identified by Typhoon™ surveys remain open for further testing

Photo 1

SM2020-1 semi-massive to massive sulphides showing chalcopyrite, pentlandite and pyrrhotite grading 2.70% Nickel, 1.47% Copper and 3.31 gpt Palladium over 1.50 m at a depth of 110 m from surface

Photo 2

BN2020-1 semi-massive to massive sulphides showing similar composition as seen at Samapleu and Yepleu returning 1.24% Ni and 1.14% Cu over 0.35 m at a depth of 540.2 m from surface.

Figure 1

Sama 2020’s Typhoon surveys completed and target zones remaining.

Figure 2

Samapleu deposits surface map showing holes SM2020-1 to 5 and the layout of the Typhoon survey.

Figure 3

The Typhoon target at the Bounta sector together with boreholes BN2020-01. The mineralisation intercepted in BN2020-01 couldn’t explain the high conductivity target (11,000 CT) defined by the surface Typhoon. The following-up field program will include DHTEM in BN2020-01 for a more precise location of the highly conductive target defined by the Typhoon.

Figure 4

Targets at the Yepleu sector showing the mineralized trend and results from the three boreholes drilled in 2020.

MONTREAL, Aug. 13, 2020 (GLOBE NEWSWIRE) — Sama Resources Inc. (“Sama” or the “Company”) (TSX-V: SME | OTC-PK: SAMMF) is pleased to announce the assay results from boreholes drilled during the first half of 2020. The boreholes targeted the highly conductive zones defined by surveys completed using HPX TechCo Inc’s (“HPX”) proprietary Typhoon™ electromagnetic geophysical technology (“Typhoon”). Boreholes were drilled at three sites: Samapleu, Bounta and Yepleu, and located over 25 kilometers of strike distance within the Yacouba Ultramafic-Mafic intrusive complex, which was discovered by Sama in 2010 (Figure 1).

Assay results (see Table 1 below) indicate the high potential for additional nickel-copper-palladium mineralization at all three targeted zones. The follow-up field program will include performing downhole electromagnetic surveys (“DHTEM”) in recent holes at Yepleu and Bounta for additional definition of the highly conductive targets delineated by the Typhoon surveys.

“It is clear that we are gaining a greater understanding of the entire system through the use of Typhoon and believe that our drilling is getting closer to discovering the sources of massive sulphides veins and lenses observed near surface. Our partners at HPX have been key to increasing the speed at which we are able to unlock this evolving new discovery,” stated Dr. Marc-Antoine Audet, President & CEO of Sama Resources Inc.

The mineralization encountered at the three target zones is characterized by aggregates of the nickel, copper and iron sulphides – pentlandite, chalcopyrite and pyrrhotite, respectively. Pentlandite occurs together with pyrrhotite, while the chalcopyrite is either mixed with the pentlandite and pyrrhotite or occurs as millimetric to centimetric sulphide veins/accumulations. The textures of the sulphide mineralization vary from disseminated to semi-massive and massive (> 80% of sulphide material).

Table 1: Drilling results for the 2020’s drilling campaign. Mineralised composites defined using 0.1% Ni cut-off-grade (“COG”) and including intervals defined using 0.5% Ni COG.

Borehole SM2020-01 (Refer: Press Release January 29, 2020, Figures 1 & 2) returned 53 meters grading 0.43% nickel, 0.30% copper and 0.52 grams per tonne (“gpt”) palladium, including 4.6 m grading 1.98% Ni and 0.92% Cu and 2.54 gpt Pd (see Photo 1 below). SM2020-1 was drilled 200 m southwest of the current mineral resources and extended the mineralized trend of the Samapleu surface deposit.

Photo 1: SM2020-1 semi-massive to massive sulphides showing chalcopyrite, pentlandite and pyrrhotite grading 2.70% Nickel, 1.47% Copper and 3.31 gpt Palladium over 1.50 m at a depth of 110 m from surface
https://www.globenewswire.com/NewsRoom/AttachmentNg/d11378a4-9153-4b71-9733-f245dc8fa370

Borehole SM2020-02, drilled down to 688 m from surface returned 166 m of disseminated mineralization with stringers of semi-massive sulphides (Table 1).

At Bounta, a new discovery located midway between Samapleu and Yepleu, borehole BN2020-01 returned disseminated and a stringer of semi-massive to massive sulphide grading 1.23% Ni and 1.14% Cu over 0.35 m at a depth of 540 m from surface (Photo 2). The mineralization encountered by BN2020-01 closely matched the moderately conductive EM plate but could not fully explain the high conductivity target defined by Typhoon survey (Figures 1 & 3). The follow-up field program will include DHTEM in BN2020-01 to more precisely locate the highly conductive target defined by the Typhoon.

Photo 2: BN2020-1 semi-massive to massive sulphides showing similar composition as seen at Samapleu and Yepleu returning 1.24% Ni and 1.14% Cu over 0.35 m at a depth of 540.2 m from surface.
https://www.globenewswire.com/NewsRoom/AttachmentNg/9a7e1635-52ee-4b74-9ac7-9cef229b86a0

Figure 1: Sama 2020’s Typhoon surveys completed and target zones remaining.
https://www.globenewswire.com/NewsRoom/AttachmentNg/65d9bfc9-46cb-4daa-bbbc-05af3a4720eb

Figure 2: Samapleu deposits surface map showing holes SM2020-1 to 5 and the layout of the Typhoon survey.
https://www.globenewswire.com/NewsRoom/AttachmentNg/36c09474-ef35-4037-b6fb-dd83d78cc5d8

Figure 3: The Typhoon target at the Bounta sector together with boreholes BN2020-01. The mineralisation intercepted in BN2020-01 couldn’t explain the high conductivity target (11,000 CT) defined by the surface Typhoon. The following-up field program will include DHTEM in BN2020-01 for a more precise location of the highly conductive target defined by the Typhoon.
https://www.globenewswire.com/NewsRoom/AttachmentNg/490f5400-4228-4358-9a29-5af228965b73

Three holes were drilled at Yepleu (YE2020-01 to 03) were aimed at testing three Typhoon EM targets along a mineralized trend of more than 4,500 m of strike length (Figures 1 & 4). The mineralized horizon starts near surface, reaches a depth of more than 850 m toward the south-southwest and appears remain open. The very strong conductive target at 850 m depth from surface defined by Typhoon EM (15,000 conductivity thickness (“CT”)), remains untested as hole YE2020-03 deviated and intercepted the edge of the system. The mineralization encountered in YE2020-03 is encouraging but it does not explain high conductivity target defined by the Typhoon DHEM. Further downhole EM will better locate this target.

Figure 4: Targets at the Yepleu sector showing the mineralized trend and results from the three boreholes drilled in 2020.
https://www.globenewswire.com/NewsRoom/AttachmentNg/dfaab5c8-cb73-41bb-81bf-3a802e7270dd

About HPX

HPX is a privately-owned, U.S.-domiciled mineral exploration and development company. For further information, please visit www.hpxploration.com.

About Sama Resources Inc.

Sama is a Canadian-based mineral exploration and development company with projects in West Africa. On October 23, 2017, Sama announced that it had entered into a binding term sheet in view of forming a strategic partnership with HPX TechCo Inc., a private mineral exploration company in which mining entrepreneur Robert Friedland is a significant stakeholder, in order to develop its Côte d’Ivoire Nickel-Copper and Cobalt project in Côte d’Ivoire, West-Africa. For more information about Sama, please visit Sama’s website at http://www.samaresources.com.

The technical information in this release has been reviewed and approved by Dr. Marc-Antoine Audet, P.Geo and President and CEO of Sama, and a ‘qualified person’, as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

Core (NQ size) logging and sampling was performed at Sama’s facility in Yorodougou village. Sample preparations was performed at Bureau Veritas Mineral Laboratory’s facility in Abidjan. Sample pulps were shipped by courier to Activation Laboratory (Actlab) in Lancaster, Ontario, Canada. All samples were assayed for Ni, Cu, Co, Pt, Pd and Au.

FOR FURTHER INFORMATION, PLEASE CONTACT:

SAMA RESOURCES INC./RESSOURCES SAMA INC.
Dr. Marc-Antoine Audet, President and CEO
Tel: (514) 726-4158
OR
Mr. Matt Johnston, Corporate Development Advisor
Tel: (604) 443-3835
Toll Free: 1 (877) 792-6688, Ext. 5

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

Forward-Looking Statements

Certain statements made and information contained herein are "forward-looking statements" or “forward-looking information” within the meaning of Canadian securities legislation. Forward-looking statements and forward-looking information such as “evidence”, “potential”, “appears”, “seems”, “suggest”, are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or forward-looking information, including, without limitation, the availability of financing for activities, risks and uncertainties relating to the interpretation of drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, metal price fluctuations, environmental and regulatory requirements, availability of permits, escalating costs of remediation and mitigation, risk of title loss, the effects of accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration or development, the potential for delays in exploration or development activities, the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, expectations and beliefs of management and other risks and uncertainties.

In addition, forward-looking statements and forward-looking information are based on various assumptions. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information or forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.

TORONTO, July 13, 2020 (GLOBE NEWSWIRE) — Waseco Resources Inc. (“Waseco” or “the Company”) (“WRI”-TSX-V) is pleased to report that its wholly owned U.S. subsidiary, today, has entered into an Option Agreement with a wholly owned subsidiary of SSR Mining Inc. (“SSRM”), relating to the Company’s Battle Mountain Ridge (“BMR”) leased gold property in Nevada.

The 29 claim BMR property is strategically located on the Battle Mountain-Eureka Trend, immediately adjacent to the Trenton Canyon Mine, which SSRM recently acquired from Newmont. It is approximately 10 km south of SSRM’s current Marigold Mine operations.

BMR hosts oxide gold mineralization identified by drilling programs carried out by several previous operators over the past 30 years. To date, three gold zones have been identified on the property. The South and West zones are oxide hosted and drilling by Waseco has extended the West Zone laterally.

Additionally and importantly, Waseco has made a sulphide hosted gold discovery near the Northern property boundary with SSRM. (see WRI News Releases Jan. 12^th, 2012 and Jan 26^th, 2017). This zone appears to be on trend with a recently announced discovery by SSRM, on its Marigold property, approximately 1.5km to the north-west from the BMR property boundary, where SSRM announced a gold intercept of 5.19g Au over 94.5 meters (see SRRM News Release- May 14^th, 2020).

Under the terms of the Agreement, SSRM has agreed to carry out exploration expenditures of US$1.5 million within the next 5 years and assume all of the carrying costs of the BMR property during the option period. At the end of the exploration phase, SSRM may acquire Waseco’s interests by paying US$25 per ounce of gold in all resource categories discovered (measured, indicated and inferred). This acquisition will involve a minimum payment to the Company of US$1 Million and a maximum payment of US$6 Million as well as a 1% NSR royalty on production payable to the Company. Waseco will also receive a US$100,000 payment and re-imbursement of certain expenses on the effective date of the Option Agreement. The transaction is subject to TSX-V approval.

Company President, Richard Williams, commented: “The operations at the nearby Marigold Mine, which has consistently produced over 220,000 ounces of gold per year at an extremely low cut-off gold grade, is a testament to their team’s understanding of the oxide gold ore environment in the area.

The pending addition of the Alacer Gold Corp. team, which has extensive sulphide hosted gold production experience, provides us with added comfort that Marigold are best placed to effectively and successfully develop BMR and Waseco’s new discovery there. We look forward to working with Marigold’s exploration staff.”

Note: The mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the BMR property.

Mr. A. Lee Barker, BASc., MSc. (App.), P. Eng., a Qualified Person under National Instrument 43-101, has reviewed and approved the technical content of this release.

Waseco is an exploration company focused on exploring for gold in Nevada. The Company is listed on the TSX Venture Exchange (“WRI”) and the Frankfurt Stock Exchange (“WSE”). There are currently 41,681,390 shares issued and outstanding.

For further information on the Company, please visit the Waseco web site at www.wasecoresources.com or contact Richard Williams at (416) 364-3123- e-mail: rickw@wasecoresources.com.

On Behalf of the Board of Directors

Richard Williams

President & C.E.O.

Neither the TSX Venture Exchange nor its regulatory service providers as that term is defined in the policies of the TSX Venture Exchange accepts responsibility of the accuracy or adequacy of this release.

We seek safe harbour.

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

TORONTO, July 06, 2020 (GLOBE NEWSWIRE) — Olivut Resources Ltd. (“Olivut” or the “Company”) (OLV.V) is pleased to announce that it has exercised its option to earn 50% of the Seahorse Project, located in the Northwest Territories, Canada in accordance with the terms of the Option Agreement signed with Talmora Diamond Inc. (“Talmora”) on July 6, 2018. Olivut and Talmora will be joint (50/50) owners of the assets.

All earn-in requirements have been completed: on December 9, 2019 Olivut provided notice to Talmora that it had incurred the minimum work cost requirement of $1,200,000 ($1,295,000 spent to October 31, 2019) and a cash payment of $200,000 was made to Talmora in July, 2018. Talmora retains a 1% net smelter return royalty on certain land.

The Company considers the Seahorse Project to have the potential to host diamondiferous kimberlite bodies of significant size and perhaps other mineral deposits, based on a combination of: 2019 program results as described below; favourable diamond stability indicator minerals found regionally and locally, including 18 macro diamonds found in regional samples to the west and northwest; specific geophysical targets; regional and local faults that would favour kimberlite emplacement; occurrence of diamondiferous kimberlites to the north and southeast, as well as other geochemical data in the area.

As previously announced, Olivut successfully completed a helimag geophysical program during April and May 2019. Detailed, low-level, 50 metre line spacing magnetic information was collected and analyzed over multiple anomalies previously identified from regional geophysics.

During August and September 2019 six holes were drilled to test certain regional geophysical targets that had been confirmed and further delineated by the detailed helimag program. The holes were drilled to a maximum depth of 316’ (96.3 metres) using a reverse circulation, heli-portable drill.

Beneath tills, each of the holes intersected varying depths of a distinct homogeneous, extremely fine-grained clay that did not appear to be derived from the dolomite country rock that is exposed proximal to the targets. Down hole drilling conditions were exceptionally challenging, as was the recovery of drill sample material, due primarily to the nature of these intersected clays. Samples were collected from each of the holes and sent for analysis to Saskatchewan Research Council (“SRC”).

Preliminary visual inspection, as well as further microscopic examination of many of the collected samples, could not specifically identify the host rock from which the clay material is derived. Subsequently, whole rock and multi-element geochemical results returned complex chemistry characterised by elevated Rare Earth Element (“REE”) content. Further analysis is ongoing to relate these findings to till samples taken down-ice in the general region. These REE levels are generally higher than, or consistent with, levels of REE detected in clays found to occur over some identified kimberlites in some locations of the world (e.g. western Australia and Namibia). Sulphides, including pyrite, galena and sphalerite, as well as other mafic minerals were easily identified in many downhole samples.

The Seahorse Project area underwent periods of extreme warming and laterization that destroyed silicate indicator minerals as evidenced from regional till sampling results. However, some opaque oxide indicator minerals and diamonds survive this type of weathering.

To determine the potential presence of any kimberlitic indicator minerals (“KIM”), additional samples from five drill holes, each consisting mostly of the homogeneous clay, were submitted for heavy mineral analysis to SRC. Chromites, ilmenites (some manganese bearing) and abundant pseudorutile (an alteration product of ilmenite which is common in intensely weathered kimberlite) are present. Although the chromites and ilmenites are not unequivocally kimberlitic, a few definite KIMs (G-9 pyropes and picroilmenites) were recovered from beach sand concentrates taken from a lake in the vicinity of the drill holes.

A surprising result of the heavy mineral analysis is the number of microfossils and the abundance of various forms of pyrite (some replacing organic material and microfossils) found in the concentrates. Also present are spherules (tiny bead-like features) believed to be associated with a meteorite impact. Microfossils and pyrite associated with anoxic (low oxygen) conditions require a different explanation for the origin of the clay than intensely altered kimberlite. Given the results to date, there are a number of possible scenarios that could explain the genesis of these clays and further work is required to obtain more information before arriving at a conclusion.

In addition to the drilling program described above, limited regional prospecting was conducted. A large gossan zone was identified on the property comprising the Seahorse Project that appears to have a strike length of approximately eight kilometres. Very limited sampling was conducted due to budget and fuel constraints. Some of these samples returned trace amounts of gold which may be significant given the limited number of samples collected. Further work is required to obtain more information before arriving at a conclusion. The linear gossan zone occurs within the dolomite country rock and likely represents a sulphide bearing fault zone. The Company’s interest in the Seahorse Project includes any mineral deposits discovered, whether diamonds or other minerals.

This region has been subjected to no known previous detailed exploration work. The Company will report further details once they are available. Due to its remoteness, the project area must be supplied by small aircraft and helicopter. Although Talmora has been active in the area of the Seahorse Project, prior to Olivut’s involvement it had not been able to conduct meaningful exploration due to a lack of financing during the prolonged negative capital market environment for junior exploration companies.

The Coronavirus pandemic and its effects particularly on planning and work in the Northwest Territories will likely prevent any field work being conducted in 2020. Measures have been put in place to mitigate risks to the health and safety of northern people and communities.

Olivut is a diamond exploration company with a 100% mineral interest in the HOAM Project (the “HOAM Project”) and a 50% interest in the Seahorse Project, both projects being located in Canada’s Northwest Territories. Please visit www.olivut.com for detailed corporate and project information.

This press release contains forward-looking statements with respect to the Company, and matters concerning the raising of additional capital, the business, operations, strategy, and financial performance of the Company. Actual results may differ materially from those indicated by such statements. These statements generally, but not always, can be identified by use of forward-looking words such as “may”, “will”, “expect”, “estimate”, “anticipate”, “intends”, “believe” or “continue” or the negative thereof or similar variations. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including that the estimates and projections regarding the Company’s properties are realized. Forward-looking statements are based on a number of assumptions which may prove to be incorrect. Unless otherwise stated, all forward looking statements speak only as of the date of this press release and the Company does not undertake any obligation to update such statements except as required by law.

Martin St. Pierre, P.Geophys., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical disclosure in this press release.

Leni Keough, P.Geo.
President and Chief Executive Officer

For further information, please contact:
Leni Keough
President and Chief Executive Officer
Olivut Resources Ltd.
(780) 866-2226

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.

Every investor in Altura Mining Limited (ASX:AJM) should be aware of the most powerful shareholder groups. Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. I quite like to see at least a little bit of insider ownership. As Charlie Munger said 'Show me the incentive and I will show you the outcome.

Altura Mining is a smaller company with a market capitalization of AU$197m, so it may still be flying under the radar of many institutional investors. Taking a look at our data on the ownership groups (below), it's seems that institutions don't own many shares in the company. We can zoom in on the different ownership groups, to learn more about Altura Mining.

See our latest analysis for Altura Mining

What Does The Institutional Ownership Tell Us About Altura Mining?

Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing.

Less than 5% of Altura Mining is held by institutional investors. This suggests that some funds have the company in their sights, but many have not yet bought shares in it. If the business gets stronger from here, we could see a situation where more institutions are keen to buy. When multiple institutional investors want to buy shares, we often see a rising share price. The past revenue trajectory (shown below) can be an indication of future growth, but there are no guarantees.

Hedge funds don't have many shares in Altura Mining. Ningbo Shanshan Co.,Ltd. is currently the largest shareholder, with 15% of shares outstanding. In comparison, the second and third largest shareholders hold about 14% and 10% of the stock. In addition, we found that James Brown, the CEO has 1.1% of the shares allocated to his name

On further inspection, we found that more than half the company's shares are owned by the top 7 shareholders, suggesting that the interests of the larger shareholders are balanced out to an extent by the smaller ones.

While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. As far I can tell there isn't analyst coverage of the company, so it is probably flying under the radar.

Insider Ownership Of Altura Mining

The definition of an insider can differ slightly between different countries, but members of the board of directors always count. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO.

I generally consider insider ownership to be a good thing. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions.

Our most recent data indicates that insiders own a reasonable proportion of Altura Mining Limited. Insiders own AU$60m worth of shares in the AU$197m company. I would say this shows alignment with shareholders, but it is worth noting that the company is still quite small; some insiders may have founded the business. You can click here to see if those insiders have been buying or selling.

General Public Ownership

The general public, with a 46% stake in the company, will not easily be ignored. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run.

Private Equity Ownership

With a stake of 5.8%, private equity firms could influence the AJM board. Some investors might be encouraged by this, since private equity are sometimes able to encourage strategies that help the market see the value in the company. Alternatively, those holders might be exiting the investment after taking it public.

Public Company Ownership

We can see that public companies hold 15%, of the AJM shares on issue. It's hard to say for sure, but this suggests they have entwined business interests. This might be a strategic stake, so it's worth watching this space for changes in ownership.

Next Steps:

I find it very interesting to look at who exactly owns a company. But to truly gain insight, we need to consider other information, too. Consider for instance, the ever-present spectre of investment risk. We've identified 3 warning signs with Altura Mining (at least 1 which is a bit concerning) , and understanding them should be part of your investment process.

Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.

NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.

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

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

GABORONE, June 25 (Reuters) – Botswana issued its first licences allowing three private companies to generate their own power which will mostly be destined for export, the energy regulator said on Thursday.

The Independent Power Producers (IPPs) have received 15-year generation licences and will produce a combined 827 megawatt (MW) of power.

State-owned Botswana Power Corporation (BPC) is currently the sole producer of electricity but the country is looking to diversify with several private investors at various stages of setting up coal, gas and solar power projects.

“We need to come to a point where we no longer import but become exporters of electricity,” said Botswana Energy Regulatory Authority chief executive officer, Rose Seretse.

Energy & Natural Resource Corporation, which is owned by Strata, plans to construct a 600 MW coal-fired power station, Tlou Energy has been granted a licence to produce 2 MW of power through coal-bed methane and Sese Power, owned by First Quantum Minerals and African Energy have been licensed to generate and export 225 MW of power.

Despite its huge estimated coal resources of 212 billion tonnes, the diamond-rich country only has two operating coal mines with several investors at various stages of setting up coal mines for either export or power generation.

Lack of adequate rail infrastructure and the high costs of road transportation have been holding back investments in Botswana coal sector. (Reporting by Brian Benza Editing by Tanisha Heiberg and Chizu Nomiyama)

VANCOUVER, BC , June 24, 2020 /CNW/ – The following issues have been halted by IIROC:

Company: Liberty One Lithium Corp.

TSX-Venture Symbol: LBY (all issues)

Reason: At the Request of the Company Pending News

Halt Time (ET): 1:07 PM

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

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

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