Vancouver, British Columbia–(Newsfile Corp. – September 28, 2021) – Millennial Lithium Corp. (TSXV: ML) (FSE: A3N2) (OTCQX: MLNLF) ("Millennial" or the "Company") is pleased to announce that it has entered into a definitive arrangement agreement (the "CATL Arrangement Agreement") with Contemporary Amperex Technology Co., Ltd. ("CATL") dated September 28, 2021 pursuant to which CATL will acquire all of the outstanding shares of Millennial (each, a "Common Share") by way of a plan of arrangement (the "CATL Arrangement") for CAD$3.85 per Common Share (the "Purchase Price"), payable in cash, representing total cash consideration of approximately CAD$377 million.
Prior to entering into the CATL Arrangement Agreement, Millennial terminated its arrangement agreement with Ganfeng Lithium Co., Ltd. and 1314992 B.C. Ltd. ("Ganfeng") dated July 16, 2021, as amended (the "Ganfeng Arrangement Agreement"), in accordance with its terms.
As disclosed in its press release issued on September 8, 2021, Millennial received a non-binding proposal from CATL to acquire all of the issued and outstanding Common Shares at a price of CAD$3.85 per Common Share and notified Ganfeng that this proposal constituted a "Superior Proposal" in accordance with the terms of Ganfeng Arrangement Agreement. Ganfeng elected not to exercise its right to match and, as a result, Millennial terminated the Ganfeng Arrangement Agreement in accordance with its terms and entered into the CATL Arrangement Agreement. The CATL Arrangement represents a premium of approximately 6.9% to the value of the consideration offered pursuant to the Ganfeng Arrangement Agreement.
Consistent with market practice in similar transactions and pursuant to the CATL Arrangement Agreement, CATL has also reimbursed Millennial for the termination fee of USD$10 million paid to Ganfeng in respect of the termination of the Ganfeng Arrangement Agreement (the "Existing Termination Amount").
Benefits to Millennial Shareholders
-
Significant premium of approximately 29% over the twenty (20) day average closing price of CAD$2.98 for the Common Shares on the TSX Venture Exchange.
-
All-cash offer that is not subject to a financing condition.
-
Premium of approximately 6.9% to the price offered under the Ganfeng Arrangement Agreement.
-
Voting support with voting support agreements entered into with directors and senior officers of Millennial.
-
Removes future dilution risk associated with funding development of next phase of Pastos Grandes Project.
Millennial Board of Directors' Recommendation
After consultation with its financial and legal advisors, and on the unanimous recommendation of the special committee of directors of Millennial (the "Special Committee"), the CATL Arrangement Agreement has been approved unanimously by the board of directors of Millennial (the "Board") and the Board recommends that Millennial shareholders ("Shareholders") and holders ("Warrantholders", and together with Shareholders, "Voting Securityholders") of Common Share purchase warrants ("Warrants") vote in favour of the CATL Arrangement. The Special Committee has received an oral fairness opinion from Sprott Capital Partners LP ("Sprott") which states that the consideration to be received by Shareholders pursuant to the CATL Arrangement is fair, from a financial point of view, to Shareholders (other than CATL).
Transaction Conditions and Timing
The CATL Arrangement will be effected by way of a court-approved plan of arrangement under the British Columbia Business Corporations Act and will be subject to the approval of: (i) 662/3% of votes cast by Shareholders; (ii) 662/3% of votes cast by Voting Securityholders, voting together as a group; and (iii) a simple majority of the votes cast by Voting Securityholders excluding for this purpose the votes held by any person required under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions, at a special meeting of Voting Securityholders expected to be held on November 15, 2021 (the "CATL Meeting"). In addition to Voting Securityholder approval, the CATL Arrangement is also subject to the receipt of certain regulatory and court approvals, including Investment Canada Act approval, and other closing conditions customary in transactions of this nature.
The CATL Arrangement provides for, among other things, customary Board support and non-solicitation covenants, with a "fiduciary out" that would allow Millennial to accept a superior proposal, subject to a "right to match" period in favour of CATL. The CATL Arrangement Agreement also provides for, among other matters, (i) a termination fee of USD$10 million, payable by Millennial to CATL in certain specified circumstances, (ii) the reimbursement of the Existing Termination Amount from Millennial to CATL in certain specified circumstances, (iii) the reimbursement of CATL's expenses up to USD$500,000 if the CATL Arrangement Agreement is terminated in certain other specified circumstances, and (iv) a reverse termination fee of USD$16 million, held in escrow and payable by CATL to Millennial in certain other specified circumstances.
All directors and senior officers of Millennial have entered into support and voting agreements pursuant to which they have agreed to vote their Common Shares in favour of the CATL Arrangement.
As part of the CATL Arrangement, outstanding Company convertible securities, including the Warrants, stock options ("Options"), restricted share units ("RSUs") and performance share units ("PSUs") will be acquired by the Company and cancelled. The holders of Warrants will receive cash consideration of CAD$0.30 per whole Warrant, and the holders of Options will receive cash consideration equal to the Purchase Price less the exercise price of such Option. Holders of RSUs and PSUs will receive cash consideration equal to the Purchase Price for each RSU and PSU held. Pursuant to the CATL Arrangement Agreement, CATL has agreed to ensure that the Company has sufficient working capital to satisfy the aggregate consideration payable to the holders of the Warrants, Options, RSUs and PSUs.
Subject to certain conditions, including the parties obtaining the requisite regulatory approvals, the CATL Arrangement is expected to close in the fourth quarter of 2021 or in January 2022.
Upon closing of the CATL Arrangement, the Common Shares and Warrants are expected to be concurrently delisted from the TSX Venture Exchange.
In light of these developments, Millennial has cancelled the special meeting of Voting Securityholders scheduled to be held on September 30, 2021 and expects to convene a new meeting on November 15, 2021.
Full details of the CATL Arrangement will be included in a management information circular of Millennial that is expected to be mailed to Voting Securityholders in October 2021 and made available on SEDAR under the issuer profile of Millennial at www.sedar.com.
Advisors and Counsel
Osler, Hoskin & Harcourt LLP and Llinks Law Offices are acting as CATL's legal advisors.
Credit Suisse Securities (Canada) Inc. is acting as financial advisor to Millennial, and Dentons Canada LLP is acting as Millennial's legal advisor. Sprott is acting as financial advisor to the Special Committee.
About Millennial
To find out more about Millennial Lithium Corp. please contact Investor Relations at (604) 662-8184 or email info@millenniallithium.com.
MILLENNIAL LITHIUM CORP.
"Farhad Abasov"
President CEO and Director
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the CATL Arrangement, including statements with respect to the benefits of the CATL Arrangement to the Shareholders, the anticipated CATL Meeting date and mailing of the information circular in respect of the CATL Meeting, timing for completion of the CATL Arrangement and receiving the required regulatory and court approvals, CATL's expectations in respect of the Pastos Grandes Project, the accuracy of mineral resource and mineral reserve estimates at the Pastos Grandes Project and future plans and objectives of Ganfeng. The Company's current plans, expectations and intentions with respect to development of its business and of the Pastos Grandes Project may be impacted by economic uncertainties arising out of Covid-19 pandemic or by the impact of current financial and other market conditions on its ability to secure further financing or funding of the Pastos Grandes Project. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97903
Vancouver, British Columbia–(Newsfile Corp. – September 28, 2021) – Millennial Lithium Corp. (TSXV: ML) (FSE: A3N2) (OTCQX: MLNLF) ("Millennial" or the "Company") is pleased to announce that it has entered into a definitive arrangement agreement (the "CATL Arrangement Agreement") with Contemporary Amperex Technology Co., Ltd. ("CATL") dated September 28, 2021 pursuant to which CATL will acquire all of the outstanding shares of Millennial (each, a "Common Share") by way of a plan of arrangement (the "CATL Arrangement") for CAD$3.85 per Common Share (the "Purchase Price"), payable in cash, representing total cash consideration of approximately CAD$377 million.
Prior to entering into the CATL Arrangement Agreement, Millennial terminated its arrangement agreement with Ganfeng Lithium Co., Ltd. and 1314992 B.C. Ltd. ("Ganfeng") dated July 16, 2021, as amended (the "Ganfeng Arrangement Agreement"), in accordance with its terms.
As disclosed in its press release issued on September 8, 2021, Millennial received a non-binding proposal from CATL to acquire all of the issued and outstanding Common Shares at a price of CAD$3.85 per Common Share and notified Ganfeng that this proposal constituted a "Superior Proposal" in accordance with the terms of Ganfeng Arrangement Agreement. Ganfeng elected not to exercise its right to match and, as a result, Millennial terminated the Ganfeng Arrangement Agreement in accordance with its terms and entered into the CATL Arrangement Agreement. The CATL Arrangement represents a premium of approximately 6.9% to the value of the consideration offered pursuant to the Ganfeng Arrangement Agreement.
Consistent with market practice in similar transactions and pursuant to the CATL Arrangement Agreement, CATL has also reimbursed Millennial for the termination fee of USD$10 million paid to Ganfeng in respect of the termination of the Ganfeng Arrangement Agreement (the "Existing Termination Amount").
Benefits to Millennial Shareholders
-
Significant premium of approximately 29% over the twenty (20) day average closing price of CAD$2.98 for the Common Shares on the TSX Venture Exchange.
-
All-cash offer that is not subject to a financing condition.
-
Premium of approximately 6.9% to the price offered under the Ganfeng Arrangement Agreement.
-
Voting support with voting support agreements entered into with directors and senior officers of Millennial.
-
Removes future dilution risk associated with funding development of next phase of Pastos Grandes Project.
Millennial Board of Directors' Recommendation
After consultation with its financial and legal advisors, and on the unanimous recommendation of the special committee of directors of Millennial (the "Special Committee"), the CATL Arrangement Agreement has been approved unanimously by the board of directors of Millennial (the "Board") and the Board recommends that Millennial shareholders ("Shareholders") and holders ("Warrantholders", and together with Shareholders, "Voting Securityholders") of Common Share purchase warrants ("Warrants") vote in favour of the CATL Arrangement. The Special Committee has received an oral fairness opinion from Sprott Capital Partners LP ("Sprott") which states that the consideration to be received by Shareholders pursuant to the CATL Arrangement is fair, from a financial point of view, to Shareholders (other than CATL).
Transaction Conditions and Timing
The CATL Arrangement will be effected by way of a court-approved plan of arrangement under the British Columbia Business Corporations Act and will be subject to the approval of: (i) 662/3% of votes cast by Shareholders; (ii) 662/3% of votes cast by Voting Securityholders, voting together as a group; and (iii) a simple majority of the votes cast by Voting Securityholders excluding for this purpose the votes held by any person required under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions, at a special meeting of Voting Securityholders expected to be held on November 15, 2021 (the "CATL Meeting"). In addition to Voting Securityholder approval, the CATL Arrangement is also subject to the receipt of certain regulatory and court approvals, including Investment Canada Act approval, and other closing conditions customary in transactions of this nature.
The CATL Arrangement provides for, among other things, customary Board support and non-solicitation covenants, with a "fiduciary out" that would allow Millennial to accept a superior proposal, subject to a "right to match" period in favour of CATL. The CATL Arrangement Agreement also provides for, among other matters, (i) a termination fee of USD$10 million, payable by Millennial to CATL in certain specified circumstances, (ii) the reimbursement of the Existing Termination Amount from Millennial to CATL in certain specified circumstances, (iii) the reimbursement of CATL's expenses up to USD$500,000 if the CATL Arrangement Agreement is terminated in certain other specified circumstances, and (iv) a reverse termination fee of USD$16 million, held in escrow and payable by CATL to Millennial in certain other specified circumstances.
All directors and senior officers of Millennial have entered into support and voting agreements pursuant to which they have agreed to vote their Common Shares in favour of the CATL Arrangement.
As part of the CATL Arrangement, outstanding Company convertible securities, including the Warrants, stock options ("Options"), restricted share units ("RSUs") and performance share units ("PSUs") will be acquired by the Company and cancelled. The holders of Warrants will receive cash consideration of CAD$0.30 per whole Warrant, and the holders of Options will receive cash consideration equal to the Purchase Price less the exercise price of such Option. Holders of RSUs and PSUs will receive cash consideration equal to the Purchase Price for each RSU and PSU held. Pursuant to the CATL Arrangement Agreement, CATL has agreed to ensure that the Company has sufficient working capital to satisfy the aggregate consideration payable to the holders of the Warrants, Options, RSUs and PSUs.
Subject to certain conditions, including the parties obtaining the requisite regulatory approvals, the CATL Arrangement is expected to close in the fourth quarter of 2021 or in January 2022.
Upon closing of the CATL Arrangement, the Common Shares and Warrants are expected to be concurrently delisted from the TSX Venture Exchange.
In light of these developments, Millennial has cancelled the special meeting of Voting Securityholders scheduled to be held on September 30, 2021 and expects to convene a new meeting on November 15, 2021.
Full details of the CATL Arrangement will be included in a management information circular of Millennial that is expected to be mailed to Voting Securityholders in October 2021 and made available on SEDAR under the issuer profile of Millennial at www.sedar.com.
Advisors and Counsel
Osler, Hoskin & Harcourt LLP and Llinks Law Offices are acting as CATL's legal advisors.
Credit Suisse Securities (Canada) Inc. is acting as financial advisor to Millennial, and Dentons Canada LLP is acting as Millennial's legal advisor. Sprott is acting as financial advisor to the Special Committee.
About Millennial
To find out more about Millennial Lithium Corp. please contact Investor Relations at (604) 662-8184 or email info@millenniallithium.com.
MILLENNIAL LITHIUM CORP.
"Farhad Abasov"
President CEO and Director
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the CATL Arrangement, including statements with respect to the benefits of the CATL Arrangement to the Shareholders, the anticipated CATL Meeting date and mailing of the information circular in respect of the CATL Meeting, timing for completion of the CATL Arrangement and receiving the required regulatory and court approvals, CATL's expectations in respect of the Pastos Grandes Project, the accuracy of mineral resource and mineral reserve estimates at the Pastos Grandes Project and future plans and objectives of Ganfeng. The Company's current plans, expectations and intentions with respect to development of its business and of the Pastos Grandes Project may be impacted by economic uncertainties arising out of Covid-19 pandemic or by the impact of current financial and other market conditions on its ability to secure further financing or funding of the Pastos Grandes Project. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97903
Calgary, Alberta–(Newsfile Corp. – September 28, 2021) – West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) ("West High Yield" or the "Company") is pleased to announce the completion of its previously announced placement offering (the "Offering") of units (the "Units"). The Company completed one closing under the Offering for gross proceeds of CAD$116,457.25.
Under the Offering, the Company issued 332,735 Units, comprised of 332,735 common shares in the capital of the Company (the "Common Shares") and 83,183 Common Share purchase warrant (the "Warrants"). One (1) full Warrant, together with CAD$0.45, entitles the holder thereof to acquire one (1) additional Common Share of the Company for a period of twelve (12) months from the date of closing. The Warrants will not be listed on the TSX Venture Exchange.
About West High Yield
West High Yield is a publicly traded junior mining exploration and development company focused on the acquisition, exploration, and development of mineral resource properties in Canada with a primary objective to develop its Record Ridge magnesium deposit using green processing techniques to minimize waste and CO2 emissions.
Contact Information:
West High Yield (W.H.Y.) Resources Ltd.
Frank Marasco Jr., President and Chief Executive Officer
Telephone: (403) 660-3488 Facsimile: (403) 206-7159
Email: frank@whyresources.com
Cautionary Note Regarding Forward-looking Information
This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct.
Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97953
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
OTTAWA, ON, Sept. 28, 2021 /CNW/ – Northern Shield Resources Inc. ("Northern Shield" or the "Company") (TSX-V: NRN) is pleased to announce that it has closed the first tranche of a multi-faceted, non-brokered private placement financing for aggregate proceeds of $300,000 (the "Offering").
The first tranche of the Offering was comprised of 5,000,000 common shares in the capital of the Company at a price of $0.06 per share for aggregate gross proceeds of $300,000. The common shares were issued on a flow-through basis within the meaning of the Income Tax Act (Canada). The second and final tranche of the Private Placement is expected to close imminently.
Proceeds from the offering will be used to incur eligible exploration expenses at the Shot Rock and Root & Cellar Properties. The Company paid an aggregate of $12,000 in finders fees and issued 200,000 finders Warrants in connection with the Offering.
Securities issued under the Offering are subject to restrictions on resale for a period of four months from the date of closing. The Offering is subject to final approval of the TSX Venture Exchange.
Northern Shield Resources Inc. is a Canadian-based company focused on generating high-quality exploration programs with experience in many geological terranes. It is known as a leader in executing grass roots exploration programs using a model driven approach. Seabourne Resources Inc. is a wholly-owned subsidiary of Northern Shield focussing on epithermal gold and related deposits in Atlantic Canada.
None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Statements
This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. Forward looking statements in this press release but are not limited to, statements with respect to the expectations of management regarding the Offering, the expectations of management regarding the use of proceeds of the Offering, closing conditions for the Offering, the liklihood of closing the final tranche and TSX Venture Exchange final approval of the Offering. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include the Company may not complete the Offering on terms favorable to the Company or at all; the TSX Venture Exchange may not provide final approval of the Offering; the proceeds of the Offering may not be used as stated in this news release; the funds raised from the sale of the Flow-Through Shares may not be renounced in favour of the holders; the Company may be unable to satisfy all of the conditions to the closing required by the TSX Venture Exchange. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
SOURCE Northern Shield Resources Inc.
View original content: http://www.newswire.ca/en/releases/archive/September2021/28/c5745.html
From a technical perspective, Sociedad Quimica y Minera S.A. (SQM) is looking like an interesting pick, as it just reached a key level of support. SQM's 50-day simple moving average crossed above its 200-day simple moving average, which is known as a "golden cross" in the trading world.
There's a reason traders love a golden cross — it's a technical chart pattern that can indicate a bullish breakout is on the horizon. This kind of crossover is formed when a stock's short-term moving average breaks above a longer-term moving average. Typically, a golden cross involves the 50-day and the 200-day moving averages, since bigger time periods tend to form stronger breakouts.
A successful golden cross event has three stages. It first begins when a stock's price on the decline bottoms out. Then, its shorter moving average crosses above its longer moving average, triggering a positive trend reversal. The third and final phase occurs when the stock maintains its upward momentum.
This kind of chart pattern is the opposite of a death cross, which is a technical event that suggests future bearish price movement.
SQM has rallied 7.3% over the past four weeks, and the company is a #1 (Strong Buy) on the Zacks Rank at the moment. This combination indicates SQM could be poised for a breakout.
Looking at SQM's earnings expectations, investors will be even more convinced of the bullish uptrend. For the current quarter, there have been 2 changes higher compared to none lower over the past 60 days, and the Zacks Consensus Estimate has moved up as well.
Given this move in earnings estimates and the positive technical factor, investors may want to keep their eye on SQM for more gains in the near future.
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Sociedad Quimica y Minera S.A. (SQM) : Free Stock Analysis Report
To read this article on Zacks.com click here.
PHILADELPHIA, Sept. 27, 2021 /PRNewswire/ —
FMC Corporation (NYSE: FMC) announced today it will release its third quarter 2021 earnings on Tuesday, November 2, 2021, after the stock market close via PR Newswire and the company's website https://investors.fmc.com.
The company will host a webcast conference call on Wednesday, November 3, 2021, at 9:00 a.m. ET that is open to the public via internet broadcast and telephone.
Third Quarter Conference Call Details:
Internet broadcast: https://investors.fmc.com
Passcode: FMC
Dial-in telephone numbers:
US Toll Free: 1-844-750-4894
Canada Toll Free: 1-855-669-9657
Other International: 1-412-317-5290
A replay of the call will be available via the internet and telephone from 11:00 a.m. ET on November 3, 2021 until November 24, 2021.
Internet replay: https://investors.fmc.com
US Toll Free: 1-877-344-7529
Canada Toll Free: 1-855-669-9658
Other International: 1-412-317-0088
Replay Access Code: 10160493
About FMC
FMC Corporation is a global agricultural sciences company dedicated to helping growers produce food, feed, fiber and fuel for an expanding world population while adapting to a changing environment. FMC's innovative crop protection solutions – including biologicals, crop nutrition, digital and precision agriculture – enable growers, crop advisers and turf and pest management professionals to address their toughest challenges economically while protecting the environment. With approximately 6,400 employees at more than 100 sites worldwide, FMC is committed to discovering new herbicide, insecticide and fungicide active ingredients, product formulations and pioneering technologies that are consistently better for the planet. Visit fmc.com to learn more and follow us on LinkedIn® and Twitter®.
Statement under the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements, which are based on management's current views and assumptions regarding future events, future business conditions and the outlook for the company based on currently available information. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any results, levels of activity, performance or achievements expressed or implied by any forward-looking statement. Currently, one of the most significant factors is the potential adverse effect of the current COVID-19 pandemic on the financial condition, results of operations, cash flows and performance of FMC, which is substantially influenced by the potential adverse effect of the pandemic on FMC's customers and suppliers and the global economy and financial markets. The extent to which COVID-19 impacts us will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the scope, severity and duration of the pandemic, the actions taken to contain the pandemic or mitigate its impact, and the direct and indirect economic effects of the pandemic and containment measures, among others. Additional factors include, among other things, the risk factors and other cautionary statements included within FMC's 2020 Form 10-K filed with the SEC as well as other SEC filings and public communications. Moreover, investors are cautioned to interpret many of these factors as being heightened as a result of the ongoing and numerous adverse impacts of the COVID-19 pandemic.
FMC cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Forward-looking statements are qualified in their entirety by the above cautionary statement. FMC undertakes no obligation, and specifically disclaims any duty, to update or revise any forward-looking statements to reflect events or circumstances arising after the date on which they were made, except as otherwise required by law.
View original content to download multimedia:https://www.prnewswire.com/news-releases/fmc-corporation-announces-dates-for-third-quarter-2021-earnings-release-and-webcast-conference-call-301385806.html
SOURCE FMC Corporation
These electric vehicle stocks are potential multibaggers in the making given how hot the EV space is getting.
Some investors rely on dividends for growing their wealth, and if you're one of those dividend sleuths, you might be intrigued to know that FMC Corporation (NYSE:FMC) is about to go ex-dividend in just four days. The ex-dividend date is one business day before a company's record date, which is the date on which the company determines which shareholders are entitled to receive a dividend. The ex-dividend date is of consequence because whenever a stock is bought or sold, the trade takes at least two business day to settle. Thus, you can purchase FMC's shares before the 29th of September in order to receive the dividend, which the company will pay on the 21st of October.
The company's next dividend payment will be US$0.48 per share. Last year, in total, the company distributed US$1.92 to shareholders. Last year's total dividend payments show that FMC has a trailing yield of 2.0% on the current share price of $94.49. Dividends are a major contributor to investment returns for long term holders, but only if the dividend continues to be paid. That's why we should always check whether the dividend payments appear sustainable, and if the company is growing.
Check out our latest analysis for FMC
Dividends are typically paid out of company income, so if a company pays out more than it earned, its dividend is usually at a higher risk of being cut. FMC paid out a comfortable 42% of its profit last year. A useful secondary check can be to evaluate whether FMC generated enough free cash flow to afford its dividend. It paid out more than half (51%) of its free cash flow in the past year, which is within an average range for most companies.
It's encouraging to see that the dividend is covered by both profit and cash flow. This generally suggests the dividend is sustainable, as long as earnings don't drop precipitously.
Click here to see the company's payout ratio, plus analyst estimates of its future dividends.
Have Earnings And Dividends Been Growing?
Businesses with strong growth prospects usually make the best dividend payers, because it's easier to grow dividends when earnings per share are improving. If earnings decline and the company is forced to cut its dividend, investors could watch the value of their investment go up in smoke. It's encouraging to see FMC has grown its earnings rapidly, up 43% a year for the past five years.
Many investors will assess a company's dividend performance by evaluating how much the dividend payments have changed over time. FMC has delivered an average of 20% per year annual increase in its dividend, based on the past 10 years of dividend payments. It's great to see earnings per share growing rapidly over several years, and dividends per share growing right along with it.
Final Takeaway
Has FMC got what it takes to maintain its dividend payments? Earnings per share have grown at a nice rate in recent times and over the last year, FMC paid out less than half its earnings and a bit over half its free cash flow. Overall we think this is an attractive combination and worthy of further research.
So while FMC looks good from a dividend perspective, it's always worthwhile being up to date with the risks involved in this stock. To help with this, we've discovered 2 warning signs for FMC (1 is a bit concerning!) that you ought to be aware of before buying the shares.
If you're in the market for dividend stocks, we recommend checking our list of top dividend stocks with a greater than 2% yield and an upcoming dividend.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
VANCOUVER, BC, Sept. 24, 2021 /CNW/ – The following issues have been halted by IIROC:
Company: Millennial Lithium Corp.
TSX-Venture Symbol: ML
All Issues: Yes
Reason: At the Request of the Company Pending News
Halt Time (ET): 12:53 PM
IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – Halts/Resumptions
View original content: http://www.newswire.ca/en/releases/archive/September2021/24/c1192.html
Vancouver, British Columbia–(Newsfile Corp. – September 24, 2021) – Great Atlantic Resources (TSXV: GR) (FSE: PH02) has begun the 2021 exploration program at its 100% owned South Quarry Tungsten Property in Newfoundland. The 2,950-hectare South Quarry Tungsten Property in east-central Newfoundland is one of Great Atlantic's 13 mineral assets in resource-rich Atlantic Canada, one of the top mining regions of the world. The program will consist of prospecting and rock/soil geochemical sampling, exploring for tungsten and gold mineralization.
For more information, please view the InvestmentPitch Media "video" which provides additional information about this news and the company. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Great Atlantic" in the search box.
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The property hosts high grade tungsten mineralization, exceeding 1% tungsten oxide or WO3, from two quarries. The 2021 program, which is focusing on the central-northern regions of the South Quarry Property, is exploring for new zones of tungsten mineralization in high priority target areas identified by the company during previous exploration programs. These include areas of anomalous tungsten found in both bedrock and soil.
Tungsten bearing pegmatite veins occur in the northern region of the property, one area of current focus, where soil samples from 2015 returned highly anomalous tungsten values of 234 and 402 ppm. The company confirmed high-grade tungsten mineralization (scheelite) in veins in this area during 2015, with high-grade tungsten samples from rubble and bedrock at the South Quarry and an adjacent smaller quarry including:
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Eleven quarry rubble grab samples exceeded 5% WO3.
-
A 20-centimeter long channel sample along a 15-centimeter wide vein returned 2.96% WO3.
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A grab sample from a 25-centimeter wide vein in the South Quarry returned 11.94% WO3.
Tungsten mineralization, located during the 2019 program in the new target area, occurs in quartz-dominant veins being exposed in bedrock at a historic trench/stripped area. The highlight was a bedrock grab sample, weighing 1.02 kilograms, which returned 0.871% tungsten or 1.10% WO3.
The property is located within the eastern region Exploits Subzone of the Newfoundland Dunnage Zone, which hosts several recently discovered significant gold discoveries, including those of Marathon Gold Corp. (TSX.MOZ) at the Valentine Gold Project, Sokoman Minerals Corp. (TSXV.SIC) at the Moosehead Gold Project and New Found Gold Corp. (TSXV.NFG) at the Queensway Project. Readers are warned that mineralization at the Valentine Gold Project, Moosehead Gold Project, and Queensway Project is not necessarily indicative of mineralization at the South Quarry Property.
The 2021 program will also evaluate certain areas for gold mineralization as the property is underexplored with respect to gold.
Christopher R. Anderson, President and CEO, stated: "Mr. Martin and Myself were an integral part of the initial Management team that advanced the Sisson Tungsten-Molybdenum Project in New Brunswick, an advanced stage project currently operated by Northcliff Resources Ltd. We understand the tungsten market and feel that the South Quarry Tungsten Property, although early stage, has the ear marks of being a significant asset for the company. We would be happy to welcome a Joint Venture partner to assist in advancing the South Quarry Tungsten Project."
Great Atlantic continues to grow utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, such as Antimony, Tungsten and Gold.
The shares are trading at $0.36. For more information, please visit the company's website www.GreatAtlanticResources.com, contact Christopher R. Anderson, President & CEO, at 604-488-3900 or email office@GreatAtlanticResources.com. For Investor Relations contact Andrew Job at 416-628-1560 or IR@GreatAtlanticResources.com.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97521
VANCOUVER, British Columbia, Sept. 24, 2021 (GLOBE NEWSWIRE) — Bearing Lithium Corp. (“Bearing” or the “Company”) (TSX Venture:BRZ) (OTCQB:BLILF) the Company is pleased to announce the appointment of Martin Gubbins to its Board of Directors.
Mr. Gubbins is a Chilean lawyer with 25 years of experience as an associate and partner of local law firms specializing in environmental litigation. He has also served as an independent legal advisor over the last three years. Mr. Gubbins has served as a board member for various private companies in Chile, with both Chilean and foreign investors. Mr. Gubbins is a member of the Advisory Legal Committee of Hogar de Cristo, the largest charity in Chile. From 2005-2018 he was a partner at CorreaGubbins (currently CorreaSquella) in Santiago, Chile. Mr. Gubbins graduated law school at the Universidad de Chile, Santiago. He also has a Master of Arts from the University of London.
The Company is also announcing that it has issued an aggregate of 1,000,000 stock options to its new director to purchase up to 1,000,000 common shares of the Company at a price of $0.23 per common share for a period of five years from grant, pursuant to its Stock Option Plan.
Bearing Lithium’s Chairman Gil Playford commented:
“Martin brings to the company local legal expertise and pragmatic business strategy and experience. He is well known to our Board and is joining us at an exciting time for the company’s participation in an advanced development project for the global lithium industry.”
About Bearing Lithium Corp.
Bearing Lithium Corp. is a lithium-focused mineral exploration and development company. Its primary asset is a 17.14% interest in the Maricunga Lithium Brine Project in Chile. The Maricunga Project represents one of the highest-grade lithium brine salars globally and the only pre-production project in Chile. Over $US 67 million has been invested in the Maricunga Project to date.
ON BEHALF OF THE BOARD
Signed "Gil Playford”
Gil Playford, Chairman
gplayford@bearinglithium.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward Looking Information
This press release includes certain "forward-looking information” and "forward-looking statements” (collectively "forward-looking statements”) within the meaning of applicable Canadian and United States securities legislation including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operating or financial performance of the Company, are forward-looking statements.
Forward-looking statements are frequently, but not always, identified by words such as "expects”, "anticipates”, "believes”, "intends”, "estimates”, "potential”, "possible”, and similar expressions, or statements that events, conditions, or results "will”, "may”, "could”, or "should” occur or be achieved. Actual future results may differ materially. 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. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Here are four stocks with buy rank and strong momentum characteristics for investors to consider today, September 24th:
Apple Hospitality REIT, Inc. APLE: This real estate investment trust has a Zacks Rank #1 (Strong Buy) and witnessed the Zacks Consensus Estimate for its current year earnings increasing 23.1% over the last 60 days.
Apple Hospitality REIT, Inc. Price and Consensus
Apple Hospitality REIT, Inc. price-consensus-chart | Apple Hospitality REIT, Inc. Quote
Apple Hospitality REIT’s shares gained 10.9% over the last one month compared to S&P 500’s decline of 0.8%. The company possesses a Momentum Score of B.
Apple Hospitality REIT, Inc. Price
Apple Hospitality REIT, Inc. price | Apple Hospitality REIT, Inc. Quote
Sociedad Quimica y Minera de Chile S.A. SQM: This company that produces fertilizer and iodine and manufactures industrial chemicals and iodine derivative products has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 13.4% over the last 60 days.
Sociedad Quimica y Minera de Chile S.A. Price and Consensus
Sociedad Quimica y Minera de Chile S.A. price-consensus-chart | Sociedad Quimica y Minera de Chile S.A. Quote
Sociedad Quimica y Minera de Chile’s shares gained 10.6% over the last one month. The company possesses a Momentum Score of B.
Sociedad Quimica y Minera de Chile S.A. Price
Sociedad Quimica y Minera de Chile S.A. price | Sociedad Quimica y Minera de Chile S.A. Quote
Meta Financial Group, Inc. CASH: This holding company for MetaBank has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 11.7% over the last 60 days.
Meta Financial Group, Inc. Price and Consensus
Meta Financial Group, Inc. price-consensus-chart | Meta Financial Group, Inc. Quote
Meta Financial Group’s shares gained 3.6% over the last one month. The company possesses a Momentum Score of A.
Meta Financial Group, Inc. Price
Meta Financial Group, Inc. price | Meta Financial Group, Inc. Quote
Steven Madden, Ltd. SHOO: This company that designs, sources and markets fashion-forward footwear and accessories for women, men and children has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 25% over the last 60 days.
Steven Madden, Ltd. Price and Consensus
Steven Madden, Ltd. price-consensus-chart | Steven Madden, Ltd. Quote
Steven Madden’s shares gained 2.5% over the last one month. The company possesses a Momentum Score of A.
Steven Madden, Ltd. Price
Steven Madden, Ltd. price | Steven Madden, Ltd. Quote
See the full list of top ranked stocks here
Learn more about the Momentum score and how it is calculated here.
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Sociedad Quimica y Minera S.A. (SQM) : Free Stock Analysis Report
Steven Madden, Ltd. (SHOO) : Free Stock Analysis Report
Meta Financial Group, Inc. (CASH) : Free Stock Analysis Report
Apple Hospitality REIT, Inc. (APLE) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Here are five stocks added to the Zacks Rank #5 (Strong Sell) List today:
Cracker Barrel Old Country Store, Inc. CBRL operates a chain of stores consist of a restaurant with a gift shop. The Zacks Consensus Estimate for its current year earnings has been revised 8.7% downward over the last 30 days.
Universal Logistics Holdings, Inc. ULH provides transportation and logistics solutions. The Zacks Consensus Estimate for its current year earnings has been revised 15.4% downward over the last 30 days.
Vertiv Holdings Co VRT designs, manufactures, and services critical digital infrastructure technologies and life cycle services for data centers, communication networks, and commercial and industrial environments. The Zacks Consensus Estimate for its current year earnings has been revised 13.2% downward over the last 30 days.
Companhia Siderúrgica Nacional SID operates as an integrated steel producer. The Zacks Consensus Estimate for its current year earnings has been revised 17.6% downward over the last 30 days.
Impala Platinum Holdings Limited IMPUY engages in mining, processing, refining, and marketing platinum group metals. The Zacks Consensus Estimate for its current year earnings has been revised 50.9% downward over the last 30 days.
View the entire Zacks Rank #5 List.
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National Steel Company (SID) : Free Stock Analysis Report
Cracker Barrel Old Country Store, Inc. (CBRL) : Free Stock Analysis Report
Impala Platinum Holdings Ltd. (IMPUY) : Free Stock Analysis Report
Universal Logistics Holdings, Inc. (ULH) : Free Stock Analysis Report
Vertiv Holdings Co. (VRT) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Vancouver, British Columbia–(Newsfile Corp. – September 23, 2021) – Millennial Lithium Corp. (TSXV: ML) (FSE: A3N2) (OTCQX: MLNLF) ("Millennial" or the "Company") announces COVID-19 protocols for its special meeting (the "Meeting") of shareholders ("Shareholders") and warrantholders ("Warrantholders" and together with Shareholders, "Voting Securityholders") scheduled to be held at 10:00 a.m. (Vancouver time) on September 30, 2021 at 250 Howe St 20th Floor, Vancouver, BC V6C 3R8. At the Meeting, Voting Securityholders and duly appointed proxyholders will be asked to consider and vote on a proposed acquisition of all of the common shares of the Company by a subsidiary of Ganfeng Lithium Co., Ltd. by way of a plan of arrangement as more fully set out in Millennial's management information circular dated August 26, 2021 (the "Circular") which is available under Millennial's profile on SEDAR at www.sedar.com.
In order to comply with government and venue requirements and to mitigate potential risks to public health and safety, in-person access to the Meeting will only be granted to those Voting Securityholders and duly appointed proxyholders who (i) are Fully Vaccinated (as defined below) and who provide satisfactory proof of vaccination; or (ii) who have provided evidence of a Negative Test (as defined below) and who wear a mask and remain socially distanced from other Meeting participants.
All attendees will be required to wear masks in all public spaces, including lobbies, elevators, reception area, meeting rooms and washrooms.
Fully Vaccinated Voting Securityholders and Duly Appointed Proxyholders
Voting Securityholders and duly appointed proxyholders who are deemed fully vaccinated ("Fully Vaccinated") with a vaccine that is approved for use in Canada, include those who have received:
-
two (2) doses of any of the following COVID-19 vaccines: Pfizer, Moderna or AstraZeneca, and who have waited 14 days after receiving their second dose; or
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one (1) dose of the Johnson & Johnson COVID-19 vaccine, and who have waited 14 days after receiving their first dose.
Non-Vaccinated Voting Securityholders and Duly Appointed Proxyholders
Voting Securityholders and duly appointed proxyholders who are not Fully Vaccinated must contact the Company at info@millenniallithium.com by no later than 5:00 p.m. (Vancouver time) on September 27, 2021. The Company will provide a rapid test to the Voting Securityholder and duly appointed proxyholder. Voting Securityholders and duly appointed proxyholders must show a negative result on such rapid test (a "Negative Test") prior to attending the Meeting and remain socially distanced from all other persons at all times while in attendance at the Meeting.
All Securityholders
In order to ensure that all Voting Securityholders are able to cast their votes, Millennial strongly encourages Voting Securityholders to vote in advance of the Meeting using the Form of Proxy or Voting Instruction Form mailed to them with the Meeting materials. Comprehensive information with respect to how registered and beneficial Voting Securityholders may vote in advance of the Meeting is contained in the Circular.
About Millennial
To find out more about Millennial Lithium Corp. please contact Investor Relations at (604) 662-8184 or email info@millenniallithium.com.
MILLENNIAL LITHIUM CORP.
"Graham Harris"
Chair, Board of Directors
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the timing of the Meeting and health protocols at the Meeting. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97505
VANCOUVER, BC / ACCESSWIRE / September 23, 2021 / GREAT ATLANTIC RESOURCES CORP. (TSXV:GR)(FRA:PH01) (the "Company" or "Great Atlantic") is pleased to announce it has begun the 2021 exploration program at its 100% owned 2,950 Hectare, South Quarry Tungsten Property, located in east-central Newfoundland. The program will consist of prospecting and rock – soil geochemical sampling, exploring for tungsten and gold mineralization.
The Property hosts high grade tungsten mineralization from two quarries exceeding 1% WO3. The Property is located within the Exploits Subzone of the Newfoundland Dunnage Zone. Recent significant gold discoveries are reported within the Exploits Subzone.
The 2021 program is focusing on the central – northern regions of the South Quarry Property, exploring for new zones of tungsten mineralization in high priority target areas identified by the Company during previous exploration programs. These include areas of anomalous tungsten in bedrock and / or in soil. One area of current focus is within the northeast region of the property where 2015 soil samples returned highly anomalous tungsten values of 234 and 402 ppm. Tungsten bearing pegmatite veins occur in the northern region of the property. Great Atlantic confirmed high-grade tungsten mineralization (scheelite) in veins in this area during 2015 (News Release of November 19, 2015). Eleven quarry rubble grab samples exceeded 5% WO3 (W % x 1.26 equals WO3%). A grab sample from a 25-centimeter wide vein returned 11.94% WO3.
Tungsten bearing pegmatite veins at South Quarry
The 2021 program will also evaluate certain areas for gold mineralization. The Property is underexplored with respect to gold. It is located within the eastern region of the Exploits Subzone. The Exploits Subzone hosts recently discovered gold discoveries, including those of Marathon Gold Corp. (TSX.MOZ) at the Valentine Gold Project, Sokoman Minerals Corp. (TSXV.SIC) at the Moosehead Gold Project and New Found Gold Corp. (TSXV.NFG) at the Queensway Project. Readers are warned that mineralization at the Valentine Gold Project, Moosehead Gold Project, and Queensway Project is not necessarily indicative of mineralization at the South Quarry Property.
Christopher R. Anderson, President, CEO. and Director, stated "Mr. Martin and Myself were an integral part of the initial Management team that advanced the Sisson Tungsten-Molybdenum Project in New Brunswick, an advanced stage project currently operated by Northcliff Resources Ltd. We understand the tungsten market and feel that the South Quarry Tungsten Property, although early stage, has the ear marks of being a significant asset for the company. We would be happy to welcome a Joint Venture partner to assist in advancing the South Quarry Tungsten Project."
A qualified person verified the 2015 sample data stated in this news release and supervised the 2015 sampling. The 2015 samples (and lab-inserted blank, duplicate and standard samples) were analyzed at ALS Canada Ltd. (ALS Canada is independent of Great Atlantic Resources). Tungsten analysis was by lithium metaborate fusion followed by acid dissolution and ICP-MS analysis with some samples re-analyzed by XRF.
David Martin, P.Geo., a Qualified Person as defined by NI 43-101 and VP Exploration for Great Atlantic, is responsible for the technical information contained in this News Release.
On Behalf of the board of directors
"Christopher R Anderson"
Mr. Christopher R. Anderson "Always be positive, strive for solutions, and never give up"
President CEO Director
604-488-3900 – Dir
Investor Relations:
Andrew Job
1-416-628-1560
About Great Atlantic Resources Corp.:
Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, Antimony, Tungsten and Gold.
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
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.
Great Atlantic Resource Corp
888 Dunsmuir Street
Suite 888, Vancouver, B.C., V6C 3K4
SOURCE: Great Atlantic Resource Corp
View source version on accesswire.com:
https://www.accesswire.com/665228/Great-Atlantic-Begins-Exploration-Program-Expanding-Its-Tungsten-Focus-To-Include-Gold-100-Owned-South-Quarry-Tungsten-Property-Located-in-the-Exploits-Subzone-Newfoundland
Gold has long been regarded as a safe haven in times of market turmoil. Many investors have gained exposure to the precious metal by buying stocks of companies engaged in exploration and mining. Gold stocks, as represented by the VanEck Gold Miners ETF (GDX), have dramatically underperformed the broader market over the past year as the U.S. economy and other economies have begun to recover amid the global pandemic.
Gold has long been regarded as a safe haven in times of market turmoil. Many investors have gained exposure to the precious metal by buying stocks of companies engaged in exploration and mining. Gold stocks, as represented by the VanEck Gold Miners ETF (GDX), have dramatically underperformed the broader market over the past year as the U.S. economy and other economies have begun to recover amid the global pandemic.
Drilling will test for a potential expansion of the NICO deposit at the east end of the deposit and up to four additional targets defined by previous geology and geophysics programs
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
LONDON, Ontario, September 23, 2021–(BUSINESS WIRE)–Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) ("Fortune" or the "Company") (www.fortuneminerals.com) is pleased to announce that it has initiated an approximately 3000 metre drill program on the Company’s NICO Cobalt-Gold-Bismuth-Copper Deposit ("NICO Deposit") in Canada’s Northwest Territories. Equipment and personnel are currently being mobilized to the site and drilling is expected to commence at the end of this week. The NICO Deposit and Fortune’s nearby Sue-Dianne Copper-Silver-Gold satellite deposit belong to the Iron-Oxide-Copper-Gold ("IOCG") class. IOCG-type deposits include Olympic Dam in South Australia, the Carajas District deposits in Brazil, and the Candelaria District deposits in Chile and have distinctive geological settings typically with common geophysical anomaly associations. In addition to testing the east strike extension of the NICO Deposit, drilling will also test a number of coincident magnetic, gravity, magnetotelluric, chargeability and resistivity anomalies, including some with previous drilling that encountered significant gold and cobalt intersections.
The NICO Project is comprised of a planned mine and concentrator in the Northwest Territories and a related hydrometallurgical refinery in southern Canada producing cobalt sulphate, gold doré, bismuth ingots and oxide, and a copper cement precipitate. The NICO Project is one of the most advanced cobalt development assets outside of the Democratic Republic of Congo ("DRC") to meet the growing demand in lithium-ion batteries powering electric vehicles, portable electronics and stationary storage cells, and mitigate supply chain issues from geographic concentration of production in the DRC and China and associated policy risks. The unique Critical Minerals assemblage of the NICO Deposit includes primary cobalt, 12% of global bismuth reserves, by-product copper, as well as a highly liquid 1.1 million ounce in-situ gold co-product.
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Fortune contracted Aurora Geosciences ("Aurora") in 2020 to complete induced polarization and magnetometer surveys to provide better definition of exploration targets identified in previous geophysical surveys and drill programs carried out in the 1990’s. The 2021 drill program is planned to test up to five of these high priority targets as follows:
1) East Extension of NICO Deposit
Previous drilling at the east end of the NICO Deposit in 1997 did not penetrate deep enough to test the stratigraphy hosting the NICO Deposit. A fault was also subsequently identified in this area that has likely displaced the deposit. Aurora identified coincident magnetic, chargeability and resistivity anomalies extending several hundred metres east of the presently defined terminus and indicates the deposit may still be open for potential expansion. Four holes are planned to test this opportunity.
2) Ralph Zone
A narrow zone of cobalt-gold-bismuth mineralization similar to the ores in the NICO Deposit is exposed at the surface approximately 600-700 metres east of the known deposit. This zone was previously tested by four holes drilled in 1997, two of which identified significant alteration, including a 3 metre interval grading 1.1 grams per tonne ("g/t") gold. No further drilling was completed while efforts were focused on the known deposit. The Ralph Zone is associated with a strong magnetic feature that extends westward to the currently defined east end of the NICO Deposit. There is also a partly coincident chargeability high that has not been tested. Two holes are planned to test this zone.
3) Peanut Lake Zone
The Peanut Lake Zone is associated with a strong magnetic feature that is more than 500 metres in diameter with coincident gravity and partly coincident chargeability high and resistivity low anomalies. Five holes were previously drilled to test the north rim of this feature in 1997, three of which intersected significant grades. They include 3 metres grading 1.76 g/t gold and 0.113% cobalt, 3 metres grading 1.82 g/t gold, 3 metres grading 1.105 g/t gold and 0.355% cobalt, and 3 metres grading 1.16 g/t gold and 0.06% cobalt. The peak chargeability high identified by Aurora in 2020 has not been tested. Three additional holes are planned along the strike continuation of these intersections and the chargeability high.
4) Road Cut Mineralization
Road construction on the NICO leases in 2019 unearthed altered bedrock and boulders with sulphide mineralization similar to the ores in the NICO Deposit, located approximately 800 metres southwest of the Peanut Lake zone. Representative grab samples returned highly anomalous cobalt and gold with values up to 1.6% copper. The 2020 Aurora survey also identified a moderate chargeability high feature located 300 metres north of where the sulphides are encountered. Three holes are planned to test these targets.
5) Magnetic Anomaly A
Strong, partly coincident magnetic and chargeability anomalies were also identified by Aurora approximately 800 metres northeast of the known NICO Deposit where there is a surface copper showing. Two holes were previously drilled to test the peak of the magnetic anomaly in 1997, one of which intersected low grade copper, plus 2 metres, grading 1.8 g/t gold and 0.115% cobalt. Neither of these holes tested the chargeability peak and one hole is planned to test this anomaly in the current drill program.
Fortune is pleased to report that it has completed a debt facility to raise proceeds of $1.5 million from an arm’s length investor to fund the drill program and provide working capital.
Project Summary:
The NICO Deposit contains Proven and Probable Open Pit and Underground Mineral Reserves totaling 33 million tonnes containing 1.1 million ounces of gold, 82.3 million pounds of cobalt, 102.1 million pounds of bismuth, and 27.2 million pounds of copper. The NICO Project has been assessed in a positive Feasibility Study by Micon International Limited in 2014 and has received environmental assessment approval and the major mine permits for the facilities in the Northwest Territories. The project stands out among other Critical Minerals projects as a planned vertically integrated producer of cobalt, the largest deposit of bismuth in the world, and having more than one million ounces of in-situ gold as a highly liquid and countercyclical co-product.
This press release shall not constitute an offer to sell or solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements.
For more detailed information about the NICO Mineral Reserves and certain technical information in this news release, please refer to the Technical Report on the NICO Project, entitled "Technical Report on the Feasibility Study for the NICO-Gold-Cobalt-Bismuth-Copper Project, Northwest Territories, Canada", dated April 2, 2014 and prepared by Micon International Limited which has been filed on SEDAR and is available under the Company's profile at www.sedar.com. The disclosure of scientific and technical information contained in this news release has been approved by Robin Goad, M.Sc., P.Geo., President and Chief Executive Officer of Fortune who is a "Qualified Person" under National Instrument 43-101.
About Fortune Minerals:
Fortune is a Canadian mining company focused on developing the NICO Cobalt-Gold-Bismuth-Copper Project in the NWT. The Company has an option to purchase lands in Saskatchewan where it may build the hydrometallurgical plant to process NICO metal concentrates and is also evaluating other brownfield locations with existing facilities to reduce project capital and operating costs. In addition, Fortune owns the satellite Sue-Dianne Copper-Silver-Gold Deposit located 25 km north of the NICO Project mine site and is a potential future source of incremental mill feed to extend the life of the NICO mill and concentrator.
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This press release contains forward-looking information and forward-looking statements within the meaning of applicable securities legislation. This forward-looking information includes statements with respect to, among other things, the potential for expansion of the NICO Deposit, the Company’s plans to conduct a drill program during 2021, the Company’s plans to develop the NICO Project and the potential for the Sue-Dianne property to provide incremental mill feed to the NICO Project. Forward-looking information is based on the opinions and estimates of management as well as certain assumptions at the date the information is given (including, in respect of the forward-looking information contained in this press release, assumptions regarding: the Company’s ability to conduct and complete the planned drill program; the Company’s ability to secure a site in southern Canada for the construction of a NICO Project refinery; the Company’s ability to arrange the necessary financing to continue operations and develop the NICO Project; the receipt of all necessary regulatory approvals for the construction and operation of the NICO Project and the related hydrometallurgical refinery and the timing thereof; growth in the demand for cobalt; the time required to construct the NICO Project; and the economic environment in which the Company will operate in the future, including the price of gold, cobalt and other by-product metals, anticipated costs and the volumes of metals to be produced at the NICO Project). However, such forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. These factors include the risks that the planned 2021 drill program may not result in a meaningful expansion of the NICO Deposit, the COVID-19 pandemic may interfere with the Company’s ability to conduct the drill program, the Company may not be able to secure a site for the construction of a refinery, the Company may not be able to finance and develop NICO on favourable terms or at all, uncertainties with respect to the receipt or timing of required permits, approvals and agreements for the development of the NICO Project, including the related hydrometallurgical refinery, the construction of the NICO Project may take longer than anticipated, the Company may not be able to secure offtake agreements for the metals to be produced at the NICO Project, the Sue-Dianne Property may not be developed to the point where it can provide mill feed to the NICO Project, the inherent risks involved in the exploration and development of mineral properties and in the mining industry in general, the market for products that use cobalt or bismuth may not grow to the extent anticipated, the future supply of cobalt and bismuth may not be as limited as anticipated, the risk of decreases in the market prices of cobalt, bismuth and other metals to be produced by the NICO Project, discrepancies between actual and estimated Mineral Resources or between actual and estimated metallurgical recoveries, uncertainties associated with estimating Mineral Resources and Reserves and the risk that even if such Mineral Resources prove accurate the risk that such Mineral Resources may not be converted into Mineral Reserves once economic conditions are applied, the Company’s production of cobalt, bismuth and other metals may be less than anticipated and other operational and development risks, market risks and regulatory risks. Readers are cautioned to not place undue reliance on forward-looking information because it is possible that predictions, forecasts, projections and other forms of forward-looking information will not be achieved by the Company. The forward-looking information contained herein is made as of the date hereof and the Company assumes no responsibility to update or revise it to reflect new events or circumstances, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210923005526/en/
Contacts
For further information please contact:
Fortune Minerals Limited
Troy Nazarewicz
Investor Relations Manager
info@fortuneminerals.com
Tel: (519) 858-8188
www.fortuneminerals.com
Drilling will test for a potential expansion of the NICO deposit at the east end of the deposit and up to four additional targets defined by previous geology and geophysics programs
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
LONDON, Ontario, September 23, 2021–(BUSINESS WIRE)–Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) ("Fortune" or the "Company") (www.fortuneminerals.com) is pleased to announce that it has initiated an approximately 3000 metre drill program on the Company’s NICO Cobalt-Gold-Bismuth-Copper Deposit ("NICO Deposit") in Canada’s Northwest Territories. Equipment and personnel are currently being mobilized to the site and drilling is expected to commence at the end of this week. The NICO Deposit and Fortune’s nearby Sue-Dianne Copper-Silver-Gold satellite deposit belong to the Iron-Oxide-Copper-Gold ("IOCG") class. IOCG-type deposits include Olympic Dam in South Australia, the Carajas District deposits in Brazil, and the Candelaria District deposits in Chile and have distinctive geological settings typically with common geophysical anomaly associations. In addition to testing the east strike extension of the NICO Deposit, drilling will also test a number of coincident magnetic, gravity, magnetotelluric, chargeability and resistivity anomalies, including some with previous drilling that encountered significant gold and cobalt intersections.
The NICO Project is comprised of a planned mine and concentrator in the Northwest Territories and a related hydrometallurgical refinery in southern Canada producing cobalt sulphate, gold doré, bismuth ingots and oxide, and a copper cement precipitate. The NICO Project is one of the most advanced cobalt development assets outside of the Democratic Republic of Congo ("DRC") to meet the growing demand in lithium-ion batteries powering electric vehicles, portable electronics and stationary storage cells, and mitigate supply chain issues from geographic concentration of production in the DRC and China and associated policy risks. The unique Critical Minerals assemblage of the NICO Deposit includes primary cobalt, 12% of global bismuth reserves, by-product copper, as well as a highly liquid 1.1 million ounce in-situ gold co-product.
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Fortune contracted Aurora Geosciences ("Aurora") in 2020 to complete induced polarization and magnetometer surveys to provide better definition of exploration targets identified in previous geophysical surveys and drill programs carried out in the 1990’s. The 2021 drill program is planned to test up to five of these high priority targets as follows:
1) East Extension of NICO Deposit
Previous drilling at the east end of the NICO Deposit in 1997 did not penetrate deep enough to test the stratigraphy hosting the NICO Deposit. A fault was also subsequently identified in this area that has likely displaced the deposit. Aurora identified coincident magnetic, chargeability and resistivity anomalies extending several hundred metres east of the presently defined terminus and indicates the deposit may still be open for potential expansion. Four holes are planned to test this opportunity.
2) Ralph Zone
A narrow zone of cobalt-gold-bismuth mineralization similar to the ores in the NICO Deposit is exposed at the surface approximately 600-700 metres east of the known deposit. This zone was previously tested by four holes drilled in 1997, two of which identified significant alteration, including a 3 metre interval grading 1.1 grams per tonne ("g/t") gold. No further drilling was completed while efforts were focused on the known deposit. The Ralph Zone is associated with a strong magnetic feature that extends westward to the currently defined east end of the NICO Deposit. There is also a partly coincident chargeability high that has not been tested. Two holes are planned to test this zone.
3) Peanut Lake Zone
The Peanut Lake Zone is associated with a strong magnetic feature that is more than 500 metres in diameter with coincident gravity and partly coincident chargeability high and resistivity low anomalies. Five holes were previously drilled to test the north rim of this feature in 1997, three of which intersected significant grades. They include 3 metres grading 1.76 g/t gold and 0.113% cobalt, 3 metres grading 1.82 g/t gold, 3 metres grading 1.105 g/t gold and 0.355% cobalt, and 3 metres grading 1.16 g/t gold and 0.06% cobalt. The peak chargeability high identified by Aurora in 2020 has not been tested. Three additional holes are planned along the strike continuation of these intersections and the chargeability high.
4) Road Cut Mineralization
Road construction on the NICO leases in 2019 unearthed altered bedrock and boulders with sulphide mineralization similar to the ores in the NICO Deposit, located approximately 800 metres southwest of the Peanut Lake zone. Representative grab samples returned highly anomalous cobalt and gold with values up to 1.6% copper. The 2020 Aurora survey also identified a moderate chargeability high feature located 300 metres north of where the sulphides are encountered. Three holes are planned to test these targets.
5) Magnetic Anomaly A
Strong, partly coincident magnetic and chargeability anomalies were also identified by Aurora approximately 800 metres northeast of the known NICO Deposit where there is a surface copper showing. Two holes were previously drilled to test the peak of the magnetic anomaly in 1997, one of which intersected low grade copper, plus 2 metres, grading 1.8 g/t gold and 0.115% cobalt. Neither of these holes tested the chargeability peak and one hole is planned to test this anomaly in the current drill program.
Fortune is pleased to report that it has completed a debt facility to raise proceeds of $1.5 million from an arm’s length investor to fund the drill program and provide working capital.
Project Summary:
The NICO Deposit contains Proven and Probable Open Pit and Underground Mineral Reserves totaling 33 million tonnes containing 1.1 million ounces of gold, 82.3 million pounds of cobalt, 102.1 million pounds of bismuth, and 27.2 million pounds of copper. The NICO Project has been assessed in a positive Feasibility Study by Micon International Limited in 2014 and has received environmental assessment approval and the major mine permits for the facilities in the Northwest Territories. The project stands out among other Critical Minerals projects as a planned vertically integrated producer of cobalt, the largest deposit of bismuth in the world, and having more than one million ounces of in-situ gold as a highly liquid and countercyclical co-product.
This press release shall not constitute an offer to sell or solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements.
For more detailed information about the NICO Mineral Reserves and certain technical information in this news release, please refer to the Technical Report on the NICO Project, entitled "Technical Report on the Feasibility Study for the NICO-Gold-Cobalt-Bismuth-Copper Project, Northwest Territories, Canada", dated April 2, 2014 and prepared by Micon International Limited which has been filed on SEDAR and is available under the Company's profile at www.sedar.com. The disclosure of scientific and technical information contained in this news release has been approved by Robin Goad, M.Sc., P.Geo., President and Chief Executive Officer of Fortune who is a "Qualified Person" under National Instrument 43-101.
About Fortune Minerals:
Fortune is a Canadian mining company focused on developing the NICO Cobalt-Gold-Bismuth-Copper Project in the NWT. The Company has an option to purchase lands in Saskatchewan where it may build the hydrometallurgical plant to process NICO metal concentrates and is also evaluating other brownfield locations with existing facilities to reduce project capital and operating costs. In addition, Fortune owns the satellite Sue-Dianne Copper-Silver-Gold Deposit located 25 km north of the NICO Project mine site and is a potential future source of incremental mill feed to extend the life of the NICO mill and concentrator.
Follow Fortune Minerals:
Click here to subscribe to Fortune’s email list.
Click here to follow Fortune on LinkedIn.
@FortuneMineral on Twitter.
This press release contains forward-looking information and forward-looking statements within the meaning of applicable securities legislation. This forward-looking information includes statements with respect to, among other things, the potential for expansion of the NICO Deposit, the Company’s plans to conduct a drill program during 2021, the Company’s plans to develop the NICO Project and the potential for the Sue-Dianne property to provide incremental mill feed to the NICO Project. Forward-looking information is based on the opinions and estimates of management as well as certain assumptions at the date the information is given (including, in respect of the forward-looking information contained in this press release, assumptions regarding: the Company’s ability to conduct and complete the planned drill program; the Company’s ability to secure a site in southern Canada for the construction of a NICO Project refinery; the Company’s ability to arrange the necessary financing to continue operations and develop the NICO Project; the receipt of all necessary regulatory approvals for the construction and operation of the NICO Project and the related hydrometallurgical refinery and the timing thereof; growth in the demand for cobalt; the time required to construct the NICO Project; and the economic environment in which the Company will operate in the future, including the price of gold, cobalt and other by-product metals, anticipated costs and the volumes of metals to be produced at the NICO Project). However, such forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. These factors include the risks that the planned 2021 drill program may not result in a meaningful expansion of the NICO Deposit, the COVID-19 pandemic may interfere with the Company’s ability to conduct the drill program, the Company may not be able to secure a site for the construction of a refinery, the Company may not be able to finance and develop NICO on favourable terms or at all, uncertainties with respect to the receipt or timing of required permits, approvals and agreements for the development of the NICO Project, including the related hydrometallurgical refinery, the construction of the NICO Project may take longer than anticipated, the Company may not be able to secure offtake agreements for the metals to be produced at the NICO Project, the Sue-Dianne Property may not be developed to the point where it can provide mill feed to the NICO Project, the inherent risks involved in the exploration and development of mineral properties and in the mining industry in general, the market for products that use cobalt or bismuth may not grow to the extent anticipated, the future supply of cobalt and bismuth may not be as limited as anticipated, the risk of decreases in the market prices of cobalt, bismuth and other metals to be produced by the NICO Project, discrepancies between actual and estimated Mineral Resources or between actual and estimated metallurgical recoveries, uncertainties associated with estimating Mineral Resources and Reserves and the risk that even if such Mineral Resources prove accurate the risk that such Mineral Resources may not be converted into Mineral Reserves once economic conditions are applied, the Company’s production of cobalt, bismuth and other metals may be less than anticipated and other operational and development risks, market risks and regulatory risks. Readers are cautioned to not place undue reliance on forward-looking information because it is possible that predictions, forecasts, projections and other forms of forward-looking information will not be achieved by the Company. The forward-looking information contained herein is made as of the date hereof and the Company assumes no responsibility to update or revise it to reflect new events or circumstances, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210923005526/en/
Contacts
For further information please contact:
Fortune Minerals Limited
Troy Nazarewicz
Investor Relations Manager
info@fortuneminerals.com
Tel: (519) 858-8188
www.fortuneminerals.com
TORONTO, Sept. 23, 2021 /CNW/ – First Cobalt Corp. (TSXV: FCC) (OTCQX: FTSSF) (the "Company") is pleased to announce that it commenced drilling at Iron Creek, a wholly-owned cobalt-copper project in Idaho, USA. The Company's objective is to double the size of the current resource over the next two years, in light of stronger commodity prices and an acceleration of EV adoption rates in North America.
HIGHLIGHTS
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North American EV sales reached 325,000 units in the first half of 2021, up 128% year-on-year from 142,000 units in the corresponding period 2020. Nearly 100% of vehicles sold in North America so far in 2021 were delivered with cobalt-bearing NCM and NCA lithium-ion batteries
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C$2.5 million budget will include 4,000 metres of drilling to test extensions to the deposit, which is currently open to the east, to the west and at depth, demonstrating excellent potential for resource growth
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The drill campaign follows successful meetings in Washington between executives from First Cobalt and senior elected officials, including the Idaho delegation to Congress, and civil servants from several departments and agencies
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Iron Creek is one of only two primary cobalt resource projects in the United States, where cobalt is considered a critical mineral due to America's reliance on foreign supply of this strategic mineral
Drilling will initially focus on extending the east and west strike extent of the cobalt-copper deposit, as well as down dip. The Company's previous drill campaign expanded the resource along strike to over 900m and down-dip extensions to over 600m (see press release dated January 15, 2020). The Company plans to drill over 4,000 meters and expects to receive first results by the end of Q4 2021.
"The Company recently put in place the required financing to expand and recommission its battery materials refinery in Canada in Q4 2022. Resuming drilling in Idaho supports our strategy of building a North American battery materials supply chain and is supported by stronger commodity prices and a constructive outlook for a domestic EV supply chain. Assuming drill results are as expected in 2021, we anticipate an even larger drill campaign in 2022, to fast-track our plans for domestic mine supply," said President and CEO, Trent Mell.
Iron Creek is one of the only two advanced primary cobalt resource projects in the United States and is located within the Idaho Cobalt Belt, which is recognized as the largest unmined cobalt resource in the United States. First Cobalt has identified satellite targets proximate to Iron Creek, including the Ruby Zone cobalt-copper prospect 1 km southeast of Iron Creek.
Following successful results from a geophysical survey campaign, the Company identified several important targets that stretch over a 2 km radius within the property. In May 2021, the Company doubled its land position to over 1,600 hectares, spanning approximately 10 km following the Iron Creek host rock horizon, where the potential to find additional cobalt and copper resources is high.
The Company completed 30,000 metres of drilling from 2017 to 2019 before pausing exploration to focus on developing its refining business to supply EV battery makers. Iron Creek currently has an NI43-101 compliant Mineral Resource Estimate, outlining an Indicated Resource of 12.3 million pounds of contained cobalt and 29 million pounds of contained copper as well as an Inferred Resource of an additional 12.7 million pounds of contained cobalt and 40 million pounds of contained copper.
In addition to drilling, exploration activities have included extensive bedrock sampling of outcrops along new roads constructed for drilling access as well as bedrock mapping of the recently acquired West Fork property. A ground magnetic geophysical survey is planned for the Redcastle property in addition to covering the Ruby cobalt-copper prospect to the east of the Iron Creek deposit. In addition, metallurgical test work on cobalt ore continues to improve the processing system for concentration.
Qualified Person Statement
Dr. Frank Santaguida, P.Geo., is the Qualified Person as defined by National Instrument 43-101 who has reviewed and approved the contents of this news release. Dr. Santaguida is employed as Vice President, Exploration for First Cobalt.
About First Cobalt
First Cobalt's mission is to be the most sustainable producer of battery materials. The Company owns a permitted North American hydrometallurgical refinery, a critical asset in the development and manufacturing of batteries for electric vehicles. First Cobalt owns the Iron Creek cobalt-copper project in Idaho, USA as well as several significant cobalt and silver properties in the Canadian Cobalt Camp.
On behalf of First Cobalt Corp.
Trent Mell
President & Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This news release may contain forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects', "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved". Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, and opportunities to differ materially from those implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements are set forth in the management discussion and analysis and other disclosures of risk factors for First Cobalt, filed on SEDAR at www.sedar.com. Although First Cobalt believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, First Cobalt disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
SOURCE First Cobalt Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2021/23/c6180.html
(Reuters) – First Cobalt Corp said on Thursday it began drilling at Iron Creek, its cobalt-copper project in Idaho, seeking to double production as higher demand for electric vehicles boosted prices for the metals used in the batteries.
A global drive towards electrification of road transport to reduce carbon emissions has pushed up prices for battery metals such as lithium, nickel, cobalt and copper.
"Resuming drilling in Idaho supports our strategy of building a North American battery materials supply chain and is supported by stronger commodity prices and a constructive outlook for a domestic EV supply chain," Chief Executive Officer Trent Mell said.
The company expects an even larger drill campaign in 2022 to fast-track its plans for domestic mine supply, assuming drill results are as expected in 2021.
The company had recently put in place the required financing to expand and recommission its battery materials refinery in Canada in the fourth quarter of 2022, Mell added.
(Reporting by Sahil Shaw in Bengaluru; Editing by Shailesh Kuber)
One stock that might be an intriguing choice for investors right now is Sociedad Quimica y Minera de Chile S.A. SQM. This is because this security in the Fertilizers space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.
This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Fertilizers space as it currently has a Zacks Industry Rank of 15 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.
Meanwhile, Sociedad Quimica y Minera de Chile is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.
Sociedad Quimica y Minera de Chile S.A. Price and Consensus
Sociedad Quimica y Minera de Chile S.A. price-consensus-chart | Sociedad Quimica y Minera de Chile S.A. Quote
In fact, over the past month, current quarter estimates have risen from 35 cents per share to 41 cents per share, while current year estimates have risen from $1.32 per share to $1.44 per share. This has helped SQM to earn a Zacks Rank #2 (Buy), further underscoring the company’s solid position. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
So, if you are looking for a decent pick in a strong industry, consider Sociedad Quimica y Minera de Chile. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.
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Sociedad Quimica y Minera S.A. (SQM) : Free Stock Analysis Report
To read this article on Zacks.com click here.
What trends should we look for it we want to identify stocks that can multiply in value over the long term? In a perfect world, we'd like to see a company investing more capital into its business and ideally the returns earned from that capital are also increasing. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. So when we looked at the ROCE trend of Zimplats Holdings (ASX:ZIM) we really liked what we saw.
What is Return On Capital Employed (ROCE)?
If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. The formula for this calculation on Zimplats Holdings is:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets – Current Liabilities)
0.39 = US$797m ÷ (US$2.2b – US$128m) (Based on the trailing twelve months to June 2021).
So, Zimplats Holdings has an ROCE of 39%. That's a fantastic return and not only that, it outpaces the average of 9.8% earned by companies in a similar industry.
View our latest analysis for Zimplats Holdings
While the past is not representative of the future, it can be helpful to know how a company has performed historically, which is why we have this chart above. If you'd like to look at how Zimplats Holdings has performed in the past in other metrics, you can view this free graph of past earnings, revenue and cash flow.
The Trend Of ROCE
Zimplats Holdings is displaying some positive trends. The numbers show that in the last five years, the returns generated on capital employed have grown considerably to 39%. Basically the business is earning more per dollar of capital invested and in addition to that, 71% more capital is being employed now too. So we're very much inspired by what we're seeing at Zimplats Holdings thanks to its ability to profitably reinvest capital.
Our Take On Zimplats Holdings' ROCE
A company that is growing its returns on capital and can consistently reinvest in itself is a highly sought after trait, and that's what Zimplats Holdings has. And a remarkable 356% total return over the last five years tells us that investors are expecting more good things to come in the future. Therefore, we think it would be worth your time to check if these trends are going to continue.
If you want to know some of the risks facing Zimplats Holdings we've found 2 warning signs (1 shouldn't be ignored!) that you should be aware of before investing here.
If you want to search for more stocks that have been earning high returns, check out this free list of stocks with solid balance sheets that are also earning high returns on equity.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
Announces next phase of drilling / development at Falchani and Macusani
Figure 1
From left to right: Simon Clarke, President Pedro Castillo, Michael Kobler, and Ulises Solis
VANCOUVER, British Columbia, Sept. 22, 2021 (GLOBE NEWSWIRE) — American Lithium Corp. (“American Lithium” or the “Company”) (TSX-V:LI | OTCQB:LIACF | Frankfurt:5LA1) is pleased to announce that a delegation of the Company’s management, led by CEO Simon Clarke and including Michael Kobler, an original founder and current GM of US Operations and Ulises Solis, GM of Peru Operations, had the honour of a private audience yesterday with President Pedro Castillo, the recently-elected President of Peru.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1ee3edcc-7f59-49a1-ba4e-295f602a112d
The purpose of the meeting during the 76th session of the United Nations General Assembly summit in New York was to discuss Peru’s ongoing commitment to its mining sector and its emergence as a potential Latin American leader in the supply of battery / clean energy metals for a greener planet.
During the United Nations’ conference, over 100 global leaders are meeting to discuss the world’s most pressing geopolitical issues, including the heightened urgency to advance sustainable energy initiatives along an expedited timeline.
Following the meeting with President Castillo, Mr. Clarke reported having a highly constructive initial dialogue with a focus on American Lithium’s future plans to sustainably develop world-class lithium and uranium assets in Peru.
President Pedro Castillo commented, “it was a pleasure to meet the team from American Lithium and our discussions to date have been very positive. As I have commented in recent times, we remain committed to the economy of Peru in general and, in particular, the mining sector with no plans for nationalization or expropriation. We are highly supportive of the work that American Lithium is doing and believe that Peru is very well positioned to become a global leader in the supply of metals for the new energy paradigm. We also welcome foreign investment into Peru with clear rules that protect the people, and the environment and which promotes the economic development of the region and the country.”
Mr. Clarke commented, “On behalf of our shareholders, I would like to thank President Castillo for taking the time to meet with me and my colleagues for what proved to be a very enjoyable and encouraging discussion. Clearly, President Castillo is deeply committed to the development of Peru including the mining sector and in seeing Peru become a world leader in the timely innovation of green energy solutions. To this end, American Lithium is similarly committed to playing a meaningful role in the realization of this inspiring and economically-empowering mandate. Specifically, we will be launching the next phase of drilling and development at both the Falchani Project and the Macusani Project as soon as practical.”
About American Lithium
American Lithium, a member of the TSX 50, is actively engaged in the acquisition, exploration and development of lithium projects within mining-friendly jurisdictions throughout the Americas. The Company is currently focused on enabling the shift to the new energy paradigm through the continued exploration and development of its strategically located TLC lithium claystone project in the richly mineralized Esmeralda lithium district in Nevada as well as continuing to advance its Falchani lithium and Macusani uranium development projects in southeastern Peru. Both Falchani and Macusani have been through preliminary economic assessments, exhibit strong additional exploration potential and are situated near significant infrastructure.
The TSX Venture 50 is a ranking of the top performers in each of 5 industry sectors in the TSX Venture Exchange over the last year.
For more information, please contact the Company at info@americanlithiumcorp.com or visit our website at www.americanlithiumcorp.com for project update videos and related background information.
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On behalf of the Board of Directors of American Lithium Corp.
“Simon Clarke”
CEO & Director
Tel: 604 428 6128
For further information, please contact:
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American Lithium Corp. |
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Email: info@americanlithiumcorp.com |
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Website: www.americanlithiumcorp.com |
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Cautionary Statement Regarding Forward Looking Information
This news release contains certain forward-looking information and forward-looking statements (collectively “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements regarding the plans, objectives and advancement of the TLC, Falchani and Macusani (the “Projects”), exploration drilling plans, in-fill and expansion drilling plans, results of exploration and development plans, expansion of resources and testing of new deposits, environmental and social community permitting, and any other statements regarding the business plans, expectations and objectives of American Lithium. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend", “indicate”, “scheduled”, “target”, “goal”, “potential”, “subject”, “efforts”, “option” and similar words, or the negative connotations thereof, referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management are not, and cannot be, a guarantee of future results or events. Although American Lithium believes that the current opinions and expectations reflected in such forward-looking statements are reasonable based on information available at the time, undue reliance should not be placed on forward-looking statements since American Lithium can provide no assurance that such opinions and expectations will prove to be correct. All forward-looking statements are inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including risks, uncertainties and assumptions related to: American Lithium’s ability to achieve its stated goals, including the anticipated benefits of the acquisition of Plateau Energy Metals Inc. (“Plateau”); the estimated costs associated with the advancement of the Projects; risks and uncertainties relating to the COVID-19 pandemic and the extent and manner to which measures taken by governments and their agencies, American Lithium or others to attempt to reduce the spread of COVID-19 could affect American Lithium, which could have a material adverse impact on many aspects of American Lithium’s businesses including but not limited to: the ability to access mineral properties for indeterminate amounts of time, the health of the employees or consultants resulting in delays or diminished capacity, social or political instability in Peru which in turn could impact American Lithium’s ability to maintain the continuity of its business operating requirements, may result in the reduced availability or failures of various local administration and critical infrastructure, reduced demand for the American Lithium’s potential products, availability of materials, global travel restrictions, and the availability of insurance and the associated costs; risks related to the certainty of title to the properties of American Lithium, including the status of the “Precautionary Measures” filed by American Lithium’s subsidiary Macusani Yellowcake S.A.C. (“Macusani”), the outcome of the administrative process, the judicial process, and any and all future remedies pursued by American Lithium and its subsidiary Macusani to resolve the title for 32 of its concessions; risks regarding the ongoing Ontario Securities Commission regulatory proceedings; the ongoing ability to work cooperatively with stakeholders, including but not limited to local communities and all levels of government; the potential for delays in exploration or development activities due to the COVID-19 pandemic; the interpretation of drill results, the geology, grade and continuity of mineral deposits; the possibility that any future exploration, development or mining results will not be consistent with our expectations; risks that permits will not be obtained as planned or delays in obtaining permits; mining and development risks, including risks related to accidents, equipment breakdowns, labour disputes (including work stoppages, strikes and loss of personnel) or other unanticipated difficulties with or interruptions in exploration and development; risks related to commodity price and foreign exchange rate fluctuations; risks related to foreign operations; the cyclical nature of the industry in which American Lithium operates; risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals; risks related to environmental regulation and liability; political and regulatory risks associated with mining and exploration; risks related to the uncertain global economic environment and the effects upon the global market generally, and due to the COVID-19 pandemic measures taken to reduce the spread of COVID-19, any of which could continue to negatively affect global financial markets, including the trading price of American Lithium’s shares and could negatively affect American Lithium’s ability to raise capital and may also result in additional and unknown risks or liabilities to American Lithium. Other risks and uncertainties related to prospects, properties and business strategy of American Lithium are identified in the “Risks and Uncertainties” section of Plateau’s Management’s Discussion and Analysis filed on June 25, 2021, in the “Risk Factors” section of American Lithium’s Management’s Discussion and Analysis filed on June 25, 2021, and in recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements. American Lithium undertakes no obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.
Cautionary Note Regarding Macusani Concessions
Thirty-two of the 151 concessions held by American Lithium’s subsidiary Macusani, are currently subject to Administrative and Judicial processes (together, the “Processes”) in Peru to overturn resolutions issued by INGEMMET and the Mining Council of MINEM in February 2019 and July 2019, respectively, which declared Macusani’s title to the 32 of the concessions invalid due to late receipt of the annual validity payment. Macusani successfully applied for injunctive relief on 32 concessions in a Court in Lima, Peru, and the grant of the Precautionary Measures (Medida Cautelar) has restored the title, rights and validity of those 32 concessions to Macusani until a final decision is obtained in at the last stage of the judicial process. If American Lithium’s subsidiary Macusani does not obtain a successful resolution of Processes, Macusani’s title to the concessions could be revoked.
Vancouver, British Columbia–(Newsfile Corp. – September 22, 2021) – Great Atlantic Resources (TSXV: GR) (FSE: PH02) is currently mobilizing a diamond drill to the Otter Brook region of its Golden Promise Gold Property. Otter Brook is located within the company's 100% owned Golden Promise Property, which is 1 of the company's 8 properties within the central Newfoundland gold belt, which cover a total area of 25,700 hectares.
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The drilling permit, for up to 12 holes, will test under the Otter Brook gold showing and along its projected strike, with drilling scheduled to begin later this week. Eight of 11 rock samples, from float, subcrop and outcrop, collected by the company during 2020, returned gold values in the 0.719 – 5.758 g/t range, with the highest value coming from an outcrop grab sample.
In 2018, the company reported a NI 43-101 compliant inferred resource estimate of 357,000 tonnes at 10.4 grams per tonne gold for 119,000 ounces uncapped at the nearby the Jaclyn Main Zone. Because part of the vein is near surface, the resource estimate was constrained by a conceptual open pit to demonstrate reasonable prospects of eventual economic extraction. Generic mining costs of US$2.50 per tonne and processing costs of US$25.00 per tonne were used together with a gold price of US$1,300 per ounce. All resources were classified as inferred because of the relatively wide spacing of drill holes through most of the zone.
The Golden Promise Property, located within the Exploits Subzone of the Newfoundland Dunnage Zone, is within a region of recent significant gold discoveries. Within the Exploits Subzone, the property lies along the north-northwestern fringe of the Victoria Lake Supergroup, a volcano-sedimentary terrane. The northwestern margin of the Golden Promise Property occurs proximal to, and, in part, contiguous with a major collisional boundary, and suture zone, known as the RIL, which forms the western boundary of the Exploits Subzone.
Recent significant gold discoveries within the Exploits Subzone include those of Marathon Gold Corp. (at the Valentine Gold Project, Sokoman Minerals Corp. at the Moosehead Gold Project and New Found Gold Corp. at the Queensway Project.
Viewers are warned that mineralization at the Valentine Gold Project, the Moosehead Gold Project, the Queensway Project, and elsewhere within the Exploits Subzone is not necessarily indicative of mineralization on the company's Golden Promise Property.
Great Atlantic, with a number of properties in the Atlantic provinces, is utilizing a Project Generation model, with a special focus on critical elements which are prominent in Atlantic Canada, such as Antimony, Tungsten and Gold.
The shares are trading at $0.375. For more information, please visit the company's website www.GreatAtlanticResources.com, contact Christopher R. Anderson, President & CEO, at 604-488-3900 or email office@GreatAtlanticResources.com. For Investor Relations contact Andrew Job at 416-628-1560 or IR@GreatAtlanticResources.com.
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EnerSys (NYSE:ENS) has had a rough three months with its share price down 23%. It seems that the market might have completely ignored the positive aspects of the company's fundamentals and decided to weigh-in more on the negative aspects. Fundamentals usually dictate market outcomes so it makes sense to study the company's financials. Particularly, we will be paying attention to EnerSys' ROE today.
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors’ money. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
Check out our latest analysis for EnerSys
How To Calculate Return On Equity?
Return on equity 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 EnerSys is:
9.7% = US$152m ÷ US$1.6b (Based on the trailing twelve months to July 2021).
The 'return' is the income the business earned over the last year. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.10 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. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. 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.
EnerSys' Earnings Growth And 9.7% ROE
At first glance, EnerSys' ROE doesn't look very promising. A quick further study shows that the company's ROE doesn't compare favorably to the industry average of 13% either. As a result, EnerSys' flat net income growth over the past five years doesn't come as a surprise given its lower ROE.
As a next step, we compared EnerSys' net income growth with the industry and discovered that the industry saw an average growth of 7.1% in the same period.
Earnings growth is a huge factor in stock valuation. It’s important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. 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 EnerSys is trading on a high P/E or a low P/E, relative to its industry.
Is EnerSys Efficiently Re-investing Its Profits?
EnerSys has a low three-year median payout ratio of 20% (or a retention ratio of 80%) but the negligible earnings growth number doesn't reflect this as high growth usually follows high profit retention.
Moreover, EnerSys has been paying dividends for eight years, which is a considerable amount of time, suggesting that management must have perceived that the shareholders prefer dividends over earnings growth.
Summary
In total, we're a bit ambivalent about EnerSys' performance. While the company does have a high rate of reinvestment, the low ROE means that all that reinvestment is not reaping any benefit to its investors, and moreover, its having a negative impact on the earnings growth. Having said that, looking at current analyst estimates, we found that the company's earnings growth rate is expected to see a huge improvement. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page for the company.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
PERTH, Australia, Sept. 22, 2021 (GLOBE NEWSWIRE) — Wyloo Metals Pty Ltd ("Wyloo Metals") has today submitted a conversion notice to Noront Resources Ltd (TSXV:NOT) ("Noront"), notifying Noront to convert its US$15m convertible loan ("Convertible Loan") into common shares of Noront. Conversion of the loan will increase Wyloo Metals' ownership from 24.2% to approximately 37.3% of the outstanding common shares of Noront.
ABOUT WYLOO METALS
Wyloo Metals is the metals and mining subsidiary of Tattarang, one of Australia's largest private investment groups. Led by a multidisciplinary team of geologists, engineers and financial professionals, Wyloo Metals manages a diverse portfolio of exploration and development projects and cornerstone interests in a number of public and private companies. Wyloo Metals seeks to work closely with all stakeholders to accelerate projects through the development cycle while meeting the highest international environmental, social and governance standards. See more at: www.wyloometals.com.
Wyloo Canada Holdings Pty Ltd ("Wyloo Canada"), a wholly owned subsidiary of Wyloo Metals, currently holds an aggregate of 111,815,458 common shares of Noront, representing approximately 24.2% of the outstanding common shares of Noront. Wyloo Metals will convert its US$15 million Convertible Loan into common shares of Noront on the maturity date of September 30, 2021. At an exchange rate of 0.779 US Dollars per Canadian Dollar1, Wyloo Canada would acquire an additional 96,269,996 common shares of Noront upon conversion of its Convertible Loan, following which it would hold 208,085,454 common shares of Noront, representing approximately 37.3% of the outstanding common shares of Noront on a partially diluted basis.
Wyloo Canada also holds warrants ("Noront Warrants") to acquire 1,774,664 common shares of Noront at an exercise price of Cdn$0.35 per share. If the Noront Warrants are also fully exercised, Wyloo Canada would hold 209,860,118 common shares of Noront, representing approximately 37.5% of the outstanding common shares of Noront on a partially diluted basis.
DISCLAIMER
Some of the statements in this press release may be forward looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. Wyloo Metals does not make any representation or warranty, express or implied, as to the accuracy, completeness or updated status of such statements. Therefore, in no case whatsoever will Wyloo Metals and its affiliate companies be liable to anyone for any decision made or action taken in connection with the information and/or statements in this press release or for any related damages.
This press release is issued pursuant to National Instrument 62-103 — The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which requires a report to be filed under Noront's profile on SEDAR (www.sedar.com) containing additional information with respect to the foregoing matters. A copy of such report may be obtained by contacting Wyloo Metals at info®wyloometals.com. The address of Wyloo Metals is PO Box 3155, Broadway Nedlands, WA 6009 Western Australia.
___________________________
1At September 21, 2021
MEDIA CONTACT:
Andrew Bennett
M +61 427 782 503
P +61 8 6460 4949
E abennett@tattarang.com
Celanese Corporation CE is gaining from its productivity measures, investments in organic projects and strategic acquisitions amid certain headwinds including raw material cost inflation.
Shares of this leading chemical and specialty materials maker are up 11.8% year to date compared with the 0.6% rise of its industry.
Let’s find out why this Zacks Rank #3 (Hold) stock is worth retaining at the moment.
Image Source: Zacks Investment Research
What’s Going in CE’s Favor?
Celanese is benefiting from its productivity actions, investments in high-return organic projects and synergies of acquisitions. The company is also gaining from improving demand in most of its end markets.
The company also remains focused on executing its productivity programs that include the implementation of a number of cost reduction capital projects. It achieved gross savings of $214 million from its productivity actions in 2020. Productivity actions are also expected to support to its margins in 2021.
Celanese also continues to actively pursue acquisitions, which are providing it opportunities for additional growth, investment and synergies. The acquisitions of SO.F.TER., Nilit and Omni Plastics are expected to contribute to earnings expansion in the company's Engineered Materials segment. The Elotex acquisition also strengthened the company’s position in the vinyl acetate ethylene emulsions space. The buyout is expected to contribute to volumes in the Acetyl Chain segment. The recently-announced purchase of Exxon Mobil's Santoprene Business will broaden the company’s portfolio of engineered solutions.
The company also continues to generate strong cash flows and is focused on boosting shareholders’ value. It returned $326 million to shareholders through dividend payouts and share repurchases during second-quarter 2021. It completed $500 million in share buybacks in first-half 2021 and expects to repurchase another $500 million in the second half.
A Few Concerns
The company faces headwinds from elevated raw material costs due to supply constraints as witnessed in the last reported quarter. It is expected to face sustained inflation across many key raw materials as well as supply chain costs in third-quarter 2021. Tight availability of resins, including nylon and glass fiber is expected to hike raw material costs in the third quarter. As such, higher input costs are expected to hurt margins. Celanese also expects continued moderation in the Acetyl Chain industry pricing.
The semiconductor shortage is also hurting automotive OEM production around the world. Weaker automotive production is likely to affect the company’s automotive order patterns in the third quarter.
Celanese Corporation Price and Consensus
Celanese Corporation price-consensus-chart | Celanese Corporation Quote
Stocks to Consider
Better-ranked stocks worth considering in the basic materials space include The Mosaic Company MOS, United States Steel Corporation X and Olympic Steel, Inc. ZEUS, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Mosaic has an expected earnings growth rate of 471.8% for the current year. The stock has also rallied around 78% over a year.
U.S. Steel has a projected earnings growth rate of 368.9% for the current year. The company’s shares have shot up around 193% in a year.
Olympic Steel has an expected earnings growth rate of 2,362.2% for the current year. The company’s shares have rallied around 90% in the past year.
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United States Steel Corporation (X) : Free Stock Analysis Report
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In this article, we will take a look at the 11 best battery stocks to buy now. You can skip our detailed analysis of the battery industry’s outlook for 2021 and some of the major growth catalysts for battery stocks, and go directly to the 5 Best Battery Stocks to Buy Now.
The shift in global perspective about the need for electric vehicles and the push in developed countries to stimulate the market has enabled the meteoric rise of new companies in the arena. When compared to their internal combustion engine (ICE) counterparts, battery vehicles have a completely different design for their major components such as the drivetrain, chassis and powerplant. As a result, they require a new manufacturing approach that requires setting up new facilities with new machines capable of churning out the electric vehicles at a rate suitable for mass production.
At the same time market interest and investment in components crucial for producing these vehicles is also at all time highs. A crucial component of an electric vehicle, as one's intuition would suggest, is its battery. The battery is at the heart of the vehicle as it holds the electric power necessary for traveling at distances ranging in hundreds of miles. So naturally, the outlook for battery manufacturers is also positive, since they stand to directly profit from the current electric vehicle boom.
For instance, research conducted by Allied Market Research reveals that while the electric vehicle sector was valued at $163 billion in 2019, it will grow at a massive compound annual growth rate (CAGR) of 22.6% to stand at $803 billion by 2027. During this time period, the research firm believes that North America and Europe will post the strongest and most astounding growth rate. For the former, this rate is slated to be at a whopping 27.5% with a total value of $194 billion, and for the latter, a growth rate of 25% will eclipse the North American trend. However, the biggest will be constituted of countries lying in the Asia Pacific region, where the market will be worth $358 billion.
A report by the International Energy Agency (IEA) outlines that by the end of 2020, more than 10 million electric vehicles were on the road, with the bulk of these being powered by batteries. Falling in line with Allied Market Research's analysis, this report confirmed that the European electric vehicle segment grew faster than China in 2020, but that the biggest contribution to the global electric vehicles still came from the Asian country. Crucially, since the IEA is a policy advisor, it estimates that if all existing electric vehicle and environmental policies are followed through, then the total number of electric vehicles deployed globally will increase from 11 million (including heavy-duty vehicles) from 2020 to stand at 145 million in 2030 with a growth rate of 30%.
Zoning in on batteries, a report from KPMG shares that in 2019, China had 62.2 Gigawatts-hours of installed electric vehicle battery capacity. Another research report from Markets and Markets reveals that the global lithium-ion battery market is expected to stand at a total value of $41 billion by the end of this year and grow at a CAGR of 12.3% to stand at $117 billion in 2030. Lithium-ion batteries are the most commonly used batteries in the world and they also are the major type of battery used in electric vehicles.
Some of the most notable and active battery stocks in the market include Enphase Energy, Inc. (NASDAQ: ENPH), Livent Corporation (NYSE: LTHM), Albemarle Corp (NYSE: ALB) and Plug Power Inc. (NASDAQ: PLUG), among others discussed in detail below.
Pixabay/Public Domain
Our Methodology
In order to determine which battery stocks are the best pick, we will use the simple methodology of past growth. This will let us sift out the winners from the losers and let us determine which companies have received the strongest investor attention over the past couple of years. Companies that are yet to scale their operations, have a large total addressable market (TAM) or have crucial products in the research and development stage often see strong share price growth that does not correspond with their revenue or earnings. Yet, a strong share price signals investor optimism, which is often linked to companies meeting goals or targets that are considered crucial for their long-term vitality.
We also took into account hedge fund sentiment while choosing these stocks based on the number of hedge funds having stakes in each stock according to the data of 873 funds tracked by Insider Monkey.
Why pay attention to hedge fund sentiment while choosing stocks? Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 86 percentage points since March 2017. Between March 2017 and July 2021 our monthly newsletter’s stock picks returned 186.1%, vs. 100.1% for the SPY. Our stock picks outperformed the market by 86 percentage points (see the details here). That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.
11 Best Battery Stocks to Buy Now
11. EnerSys (NYSE:ENS)
Share Price Growth Over the Last 12 Months: 17% Number of Hedge Fund Holders: 19
EnerSys (NYSE: ENS) is an American company headquartered in Reading, Pennsylvania. It has a large portfolio of power and power management products and it is known for its batteries for internal combustion engine (ICE) vehicles. Its experience in the automotive sector makes it an important player in the battery market, despite the modest share price growth over the past year. EnerSys (NYSE: ENS) is also known for manufacturing batteries that are used in satellites manufactured inside the United States and the United Kingdom.
10. Panasonic Corporation (OTC:PCRFY)
Share Price Growth Over the Last 12 Months: 41.68% Number of Hedge Fund Holders: N/A
Panasonic Corporation (OTC: PCRFY) is one of the largest and oldest multinational companies in the world with a presence in a large array of markets. In the electric vehicle segment, Panasonic is best known for its partnership with Santa Clara, California electric vehicle manufacturer Tesla, Inc. Panasonic and Tesla jointly operate the latter's Gigafactory battery manufacturing plant in Nevada, United States. This plant had a total output of 24 Gigawatt-hours in 2019, which was below its full capacity. The Gigafactory is responsible for manufacturing the battery cells which are then packed into the power packs for the vehicle by Tesla workers and robots.
9. Brookfield Business Partners L.P. (NYSE:BBU)
Share Price Growth Over the Last 12 Months: 43% Number of Hedge Fund Holders: 4
Brookfield Business Partners L.P. (NYSE: BBU) owns one of the largest automotive battery suppliers and recyclers in the world, Clarios. Clarios was formerly the battery manufacturing arm of Ireland-based Johnson Controls, Inc and it has several manufacturing investments in place to produce batteries in the United States. Some of its American battery manufacturing facilities are located in Missouri and Delaware. As of 2019, Clarios claimed to produce one-third of all electric vehicle batteries sold in the world.
Like Enphase Energy, Inc. (NASDAQ: ENPH), Livent Corporation (NYSE: LTHM), Albemarle Corp (NYSE: ALB) and Plug Power Inc. (NASDAQ: PLUG), Brookfield Business Partners L.P. (NYSE: BBU) is one of the favorite battery stocks of hedge funds.
8. Sociedad Quimica Y Minera de Chile (NYSE:SQM)
Share Price Growth Over the Last 12 Months: 69% Number of Hedge Fund Holders: 19
Sociedad Quimica Y Minera de Chile (NYSE: SQM) is crucial for the integrity of the global lithium battery supply chain. It is the largest producer of lithium, which is the primary material in battery production. The company produces lithium from concentrated salt water referred to as brine, and the company produces both Lithium Carbonate and Lithium Hydroxide. Out of these, Lithium Hydroxide is used in batteries for electric vehicles due to its chemical properties and Sociedad Quimica Y Minera de Chile (NYSE: SQM) produces this material in its facilities in Chile.
Like Enphase Energy, Inc. (NASDAQ: ENPH), Brookfield Business Partners L.P. (NYSE: BBU), Livent Corporation (NYSE: LTHM), Albemarle Corp (NYSE: ALB) and Plug Power Inc. (NASDAQ: PLUG), Sociedad Quimica Y Minera de Chile (NYSE: SQM) is one of the notable battery stocks in the market.
7. Plug Power Inc. (NASDAQ:PLUG)
Share Price Growth Over the Last 12 Months: 89% Number of Hedge Fund Holders: 34
Plug Power Inc. (NASDAQ: PLUG) is headquartered in Latham, New York and it is responsible for manufacturing fuel cell systems based on Hydrogen. It provides these cells for heavy-duty equipment and trucks and it has partnerships in Europe and Asia for providing its fuel products in collaboration with local companies in the markets.
Like Enphase Energy, Inc. (NASDAQ: ENPH), Brookfield Business Partners L.P. (NYSE: BBU), Livent Corporation (NYSE: LTHM) and Albemarle Corp (NYSE: ALB), Plug Power Inc. (NASDAQ: PLUG) is one of the notable battery stocks in the market.
6. Enphase Energy, Inc. (NASDAQ:ENPH)
Share Price Growth Over the Last 12 Months: 114% Number of Hedge Fund Holders: 44
Enphase Energy, Inc. (NASDAQ: ENPH) is an alternative energy company that focuses on a variety of products that are related to solar power. Enphase Energy, Inc. (NASDAQ: ENPH) also offers a home powering solution complete with batteries that allow users to store energy in their homes. Additionally, the company is also known for providing microcontrollers that improve the storage capacity of their residential solar-powered systems.
Click to continue reading and see the 5 Best Battery Stocks to Buy Now.
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Disclosure: None. 11 Best Battery Stocks to Buy Now is originally published on Insider Monkey.
NEW YORK, NY / ACCESSWIRE / September 21, 2021 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. There is no cost to participate in the suit. If you suffered a loss, you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff.
Piedmont Lithium Inc. (NASDAQ:PLL)
Class Period: March 16, 2018 – July 19, 2021
Lead Plaintiff Deadline: September 21, 2021
The PLL lawsuit alleges that Piedmont Lithium Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Piedmont has not, and would not, follow its stated steps or timeline to secure all proper and necessary permits; (2) Piedmont failed to inform relevant people and governmental authorities of its actual plans; (3) Piedmont failed to file proper applications with relevant governmental authorities (including state and local authorities); (4) Piedmont and its lithium business does not have "strong local government support"; and (5) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.
Learn about your recoverable losses in PLL: https://www.kleinstocklaw.com/pslra-1/piedmont-lithium-inc-loss-submission-form?id=19734&from=1
Sesen Bio, Inc. (NASDAQ:SESN)
Class Period: December 21, 2020 – August 17, 2021
Lead Plaintiff Deadline: October 18, 2021
During the class period, Sesen Bio, Inc. allegedly made materially false and/or misleading statements and/or failed to disclose that: (1) Sesen Bio's clinical trial for its cancer treatment product, Vicineum, had more than 2,000 violations of trial protocol, including 215 classified as "major"; (2) three of Sesen Bio's clinical investigators were found guilty of "serious noncompliance," including "back-dating data"; (3) Sesen Bio had submitted the tainted data in connection with the Biologics License Application ("BLA") for Vicineum; (4) Sesen Bio's clinical trials showed that Vicineum leaked out into the body, leading to side effects including liver failure and liver toxicity, and increasing the risks for fatal, drug-induced liver injury; (5) as a result of the foregoing, the Company's BLA for Vicineum was not likely to be approved; (6) as a result of the foregoing, there was a reasonable likelihood that Sesen Bio would be required to conduct additional trials to support the efficacy and safety of Vicineum; and (7) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Learn about your recoverable losses in SESN: https://www.kleinstocklaw.com/pslra-1/sesen-bio-inc-loss-submission-form?id=19734&from=1
HyreCar Inc. (NASDAQ:HYRE)
Class Period: May 14, 2021 – August 10, 2021
Lead Plaintiff Deadline: October 26, 2021
The HYRE lawsuit alleges HyreCar Inc. made materially false and/or misleading statements and/or failed to disclose during the class period that: (a) HyreCar had materially understated its insurance reserves; (b) HyreCar had systematically failed to pay valid insurance claims incurred prior to the Class Period; (c) HyreCar had incurred significant expenses transitioning to its new third-party insurance claims administrator and processing claims incurred from prior periods; (d) HyreCar had failed to appropriately price risk in its insurance products and was experiencing elevated claims incidence as a result; (e) HyreCar had been forced to dramatically reform its claims underwriting, policies and procedures in response to unacceptably high claims severity and customer complaints; and (f) as a result, HyreCar's operations and prospects were misrepresented because the Company was not on track to meet the financial estimates provided to investors during the Class Period, and such estimates lacked a reasonable basis in fact, including HyreCar's purported gross margin, EBITDA (earnings before interest, taxes, depreciation, and amortization), and net loss trajectories.
Learn about your recoverable losses in HYRE: https://www.kleinstocklaw.com/pslra-1/hyrecar-inc-loss-submission-form?id=19734&from=1
Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. If you suffered a loss during the class period and wish to obtain additional information, please contact J. Klein, Esq. by telephone at 212-616-4899 or visit the webpages provided.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
Fax: (347) 558-9665
www.kleinstocklaw.com
SOURCE: The Klein Law Firm
View source version on accesswire.com:
https://www.accesswire.com/664936/The-Klein-Law-Firm-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders-of-PLL-SESN-and-HYRE
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