Month: December 2020

Release -Sierra Metals Inc. (SMT:CA)(SMTS) – Announces Positive Preliminary Economic Assessment Results Its Cusi Mine

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Sierra Metals Announces Positive Preliminary Economic Assessment Results For A Doubling Of Output At Its Cusi Mine In Mexico To 2,400 Tonnes Per Day, Including An After-Tax Npv Of US$81 Million

 

TORONTO–(BUSINESS WIRE)– Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”) is pleased to report the results of a Preliminary Economic Assessment (“PEA”) regarding the Company’s Cusi Mine, located in Chihuahua State, Mexico.

This press release features multimedia. View the full release here.

This PEA report was prepared as a National Instrument 43-101 Technical Report for Sierra Metals Inc. (“Sierra Metals”) by SRK Consulting (Canada) Inc. (“SRK”). The full technical report will be filed on SEDAR within 45 days of this news release.

Highlights of the PEA include:

  • After-tax Net Present Value (NPV): US$81 Million at an 8% discount rate assuming a long term silver price of US$20/oz
  • Incremental benefit of increasing the production to 2,400 TPD from 1,200 TPD is estimated to have an after tax NPV (@8%) of US$28.1 million, and IRR of 46.8%
  • Net After-tax Cash Flow: US$134 Million
  • Life of Mine & Sustaining Capital Cost: US$91 Million
  • Total Operating Unit Cost: US$35.24/tonne and US$8.83/oz silver equivalent
  • Plant Processing Rate after expansion: 2,400 tonnes per day (TPD)
  • Average LOM Grades for Silver 127.2 g/t (4.1 oz/t), Gold 0.12 g/t, Zinc 0.48% and Lead 0.34%
  • Mine Life: 13 years based on existing Mineral Resource Estimate
  • Life of Mine Silver Payable Production: 33.4 million ounces

Luis Marchese, CEO of Sierra Metals commented: “I am very encouraged by the results of this PEA which support the Company’s organic growth strategy and plan to profitably develop and expand the Cusi Mine production rate to 2,400 TPD from today’s capacity of 1,200 TPD, based on current analyst consensus silver metal price estimates of US$20 per oz long-term. The Company plans to continue with its disciplined approach of profitable growth and now plans to proceed with the next step of the completion of a prefeasibility study to further de-risk the plan and determine the best path forward.”

He continued “The PEA study compared the value of the current operations at Cusi at 1,200 TPD against several output expansion alternatives from 2,400 to 3,500 TPD and determined 2,400 TPD as the optimum production level based on our current mineral resource base.”

He concluded, “Cusi is the smallest of our three mining operations, however, its silver resources which include 31.3 million ounces of Measured and Indicated plus 23 million ounces of Inferred provide Sierra Metals with economic leverage to the improving silver market fundamentals. We are continuing with our strategy to increase the value of the Company on a per share basis. This builds upon the demonstrated success we have shown with increasing our current mineral resource base and improving the throughput at all mines.”

Mineral Resource Estimate

The Property is in the Cusihuarachi District of Chihuahua State, Mexico, approximately 135 km southwest of Chihuahua City. Epithermal mineralization has been mined in the area since its discovery in the early 1800’s. Mineralization is bound between regionally significant northwest trending faults; eight mineralized zones are recognized at the property, mineralized zones are up to 10 meters across and include silicified faults, veins, and breccias. Seven epithermal veins are recognized at the property, veins typically range between 0.5 and 2.0 meters wide, dip steeply, extend 100 to 200 meters along strike, and extend up to 400 meters depth. Vein orientations range between northeast and northwest.

This PEA considers depleted Measured, Indicated, and Inferred resources reported in 2020 by SRK and effective as of August 31, 2020. The results of this PEA shown in Table 1-1 are indicative of conceptual potential and are not definitive.

Table 1-1: Summary of Mineral Resources estimate as reported by SRK,2020(EffectiveAugust 31, 2020)

Source: SRK, 2020

(1) Mineral resources are reported inclusive of ore reserves. Mineral resources are not ore reserves and do not have demonstrated economic viability. All figures rounded to reflect the relative accuracy of the estimates. Gold, silver, lead and zinc assays were capped where appropriate.
(2) Mineral resources are reported at a single cut-off grade of 95 g/t AgEq based on metal price assumptions*, metallurgical recovery assumptions, personnel costs (US$10.56/t), mine operation, transport and maintenance costs (US$24.86.41/t), processing operation and maintenance (US$11.86/t), and general and administrative and other costs (US$3.20/t).
* Metal price assumptions considered for the calculation of the cut-off grade and equivalency are: Silver: (US$/oz 20.0), Lead (US$/lb. 0.91), Zinc (US$/lb. 1.07) and Gold (US$/oz 1,541.00). Source: CIBC Global Mining Group, Consensus Forecast, September 30, 2020
The resources were estimated by SRK. Giovanny Ortiz, B.Sc., PGeo, FAusIMM #304612 of SRK, a Qualified Person, performed the resource calculations for the Cusi Mine.
** Based on the historical production information of Cusi, the metallurgical recovery assumptions are: 87% Ag, 57% Au, 86% Pb, 51% Zn.

Mining Methodology

Bench and fill mining method is currently used in the main areas of the mine and to a lesser extent, room and pillar mining is also used. The mining method used varies depending on geotechnical constraints, mineralization trends, dimensions, and mine production targets.

Using the updated Mineral Resource estimate, Sierra Metals performed an expansion analysis to determine how the Cusi mine could achieve higher sustainable production rates. The analysis indicated that higher production rates are achievable through the massification of the bench and fill mining method in the new production areas, which will allow the sustainability of the operation.

Mineral Processing

The Mal Paso Plant, located approximately 50 kilometers from the Cusi Mine, uses a conventional crushing-milling-flotation circuit to recover mineral and to produce commercial quality Lead/Silver and Zinc concentrates. Mineral is delivered from the mine to the plant in 20-tonne trucks.

Mineral processing and the recovery of the mineral is demonstrated, and silver recoveries are established at 87%.

The Mal Paso Plant increased throughput from 450 TPD at the beginning of 2018 to 1,200 TPD currently. In line with proposed increases in mine output, the processing capacity at Mal Paso will increase to 2,400 TPD in 2024.

Economic Analysis

This PEA indicates an after tax NPV of US$81 million (using a discount rate of 8%) at 2,400 TPD (in 2024). Total operating cost for the life of mine is US$352 million, equating to a total operating cost of US$35.24 per tonne milled and US$8.83 per silver equivalent ounce. Highlights of the PEA are provided in Table 1-2.

Table 1-2: PEA Highlights

Quality Control

All technical data contained in this news release has been reviewed and approved by:

Americo Zuzunaga, FAusIMM CP (Mining Engineer) and Vice President of Corporate Planning is a Qualified Person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

Augusto Chung, FAusIMM CP (Metallurgist) and Vice President of Metallurgy and Projects to Sierra Metals is a Qualified Person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Sierra Metals

Sierra Metals Inc. is a diversified Canadian mining company focused on the production and development of precious and base metals from its polymetallic Yauricocha Mine in Peru, and Bolivar and Cusi Mines in Mexico. The Company is focused on increasing production volume and growing mineral resources. Sierra Metals has recently had several new key discoveries and still has many more exciting brownfield exploration opportunities at all three Mines in Peru and Mexico that are within close proximity to the existing mines. Additionally, the Company also has large land packages at all three mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential.

The Company’s Common Shares trade on the Bolsa de Valores de Lima and on the Toronto Stock Exchange under the symbol “SMT” and on the NYSE American Exchange under the symbol “SMTS”.

For further information regarding Sierra Metals, please visit www.sierrametals.com or contact:

Continue to Follow, Like and Watch our progress:

Web: www.sierrametals.com | Twitter: sierrametals | Facebook: SierraMetalsInc | LinkedIn: Sierra Metals Inc

Forward-Looking Statements

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of Canadian and U.S. securities laws (collectively, “forward-looking information”). Forward-looking information includes, but is not limited to, statements with respect to the date of the 2020 Shareholders’ Meeting and the anticipated filing of the Compensation Disclosure. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “potential” or variations thereof, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information.

Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the risks described under the heading “Risk Factors” in the Company’s annual information form dated March 30, 2020 for its fiscal year ended December 31, 2019 and other risks identified in the Company’s filings with Canadian securities regulators and the United States Securities and Exchange Commission, which filings are available at www.sedar.com and www.sec.gov, respectively.

The risk factors referred to above are not an exhaustive list of the factors that may affect any of the Company’s forward-looking information. Forward-looking information includes statements about the future and is inherently uncertain, and the Company’s actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company’s statements containing forward-looking information are based on the beliefs, expectations and opinions of management on the date the statements are made, and the Company does not assume any obligation to update such forward-looking information if circumstances or management’s beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.

Mike McAllister
Vice President, Investor Relations
Sierra Metals Inc.
Tel: +1 (416) 366-7777
Email: info@sierrametals.com

Americo Zuzunaga
Vice President of Corporate Planning
Sierra Metals Inc.
Tel: +1 (416) 366-7777

Luis Marchese
CEO

Sierra Metals Inc.
Tel: +1 (416) 366-7777

Source: Sierra Metals Inc.

Release – Gevo, Inc. (GEVO) – Supplies Avfuel with Sustainable Aviation Fuel for Pacific Northwest Region

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Gevo Supplies Avfuel with Sustainable Aviation Fuel for Pacific Northwest Region

 

ENGLEWOOD, Colorado – December 10, 2020 – Gevo, Inc. (NASDAQ: GEVO), announced today it has supplied SAF to further support carbon neutrality goals in the aviation industry.

Gevo’s customer and global fuel supplier, Avfuel Corporation, delivered SAF to Leading Edge Jet Center, a provider of business aviation services throughout the Pacific Northwest, to deliver a demonstrative load of sustainable aviation fuel (SAF) to the fixed-base operator’s (FBO) Seattle facility.

The delivery marks the first load of sustainable aviation fuel for an FBO at the King County International Airport – Boeing Field (BFI) for resale to its customers, as well as Avfuel’s entry to SAF deliveries in Washington state.

“I want to congratulate Avfuel and Leading Edge Jet Center for making progress towards a cleaner future,” stated Patrick Gruber, Chief Executive Officer of Gevo. “We look forward to growing our business relationship and helping to educate aircraft operators and owners that products exist that burn cleaner and reduce carbon emission.”

To learn more about Gevo’s SAF please visit: https://gevo.com/products/sustainable-aviation-fuel/

About Gevo

Gevo is commercializing the next generation of jet fuel, gasoline and diesel fuel with the potential to achieve zero carbon emissions and address the market need of reducing greenhouse gas emissions with sustainable alternatives. Gevo uses low-carbon renewable resource-based carbohydrates as raw materials, and is in an advanced state of developing renewable electricity and renewable natural gas for use in production processes. As a result, Gevo is able to produce low-carbon fuels with substantially reduced carbon intensity (as measured by the level of greenhouse gas emissions compared to standard petroleum fossil-based fuels across their lifecycle). Gevo’s products perform as well or better than traditional fossil-based fuels in infrastructure and engines, but with substantially reduced greenhouse gas emissions. In addition to addressing the environmental problems of fossil-based carbon fuels, Gevo’s technology also enables certain plastics, such as polyester, to be made with more sustainable ingredients. Gevo’s ability to penetrate the growing low-carbon fuels market depends on the price of oil and the value of abating carbon emissions that would otherwise increase greenhouse gas emissions. Gevo believes that its proven, patented, technology that enables the use of a variety of low-carbon sustainable feedstocks to produce price-competitive, low carbon products, such as jet fuel, gasoline components like isooctane and isobutanol and diesel fuel, yields the potential to generate project and corporate returns that justify the build-out of a multi-billion dollar business. Learn more at our website: www.gevo.com

Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, including, without limitation, statements related to Gevo’s supply of sustainable aviation fuel to Avfuel and their customer and other statements that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2019 and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.

Investor & Media Contact
IR@gevo.com
+1 720-647-9605

SOURCE: Gevo

Comtech Telecommunications Corporation (CMTL) – 1Q Results Beat Expectations But COVID Impacts Continue

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Thursday, December 10, 2020

Comtech Telecommunications Corporation (CMTL)
1Q Results Beat Expectations But COVID Impacts Continue

Comtech Telecommunications Corp. engages in the design, development, production, and marketing of products, systems, and services for advanced communications solutions in the United States and internationally. It operates in three segments: Telecommunications Transmission, Mobile Data Communications, and RF Microwave Amplifiers. The Telecommunications Transmission segment provides satellite earth station equipment and systems, over-the-horizon microwave systems, and forward error correction technology, which are used in various commercial and government applications, including backhaul of wireless and cellular traffic, broadcasting (including HDTV), IP-based communications traffic, long distance telephony, and secure defense applications. The Mobile Data Communications segment provides mobile satellite transceivers, and computers and satellite earth station network gateways and associated installation, training, and maintenance services; supplies and operates satellite packet data networks, including arranging and providing satellite capacity; and offers microsatellites and related components. The RF Microwave Amplifiers segment designs, develops, manufactures, and markets satellite earth station traveling wave tube amplifiers (TWTA) and broadband amplifiers. Its amplifiers are used in broadcast and broadband satellite communication; defense applications, such as telecommunications systems and electronic warfare systems; and commercial applications comprising oncology treatment systems, as well as to amplify signals carrying voice, video, or data for air-to-satellite-to-ground communications. The company serves satellite systems integrators, wireless and other communication service providers, broadcasters, defense contractors, military, governments, and oil companies. Comtech markets its products through independent representatives and value-added resellers. The company was founded in 1967 and is headquartered in Melville, New York.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Earnings Beat. Comtech revenue and adjusted EBITDA came in above management’s and our expectations. Comtech posted 1Q21 revenue of $135.2, compared to $170.3 million in the year ago period. Adjusted EBITDA came in at $14.3 million versus $20.6 million last year. GAAP EPS was a loss of $3.39, versus EPS of $0.26 last year. Adjusted EPS was $0.15 compared to $0.32 last year. We were at $125 million of revenue and adjusted EBITDA of $7.2 million.

    Ongoing Contract Momentum.  As we have highlighted in past reports, contract momentum continues to build, in spite of COVID. Examples abound with particular strength in the NG911 business. Large opportunities remain, including some LEO and MEO related opportunities which could result in substantial, multi-year contracts if won …



This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Release – Gevo, Inc. (GEVO) – Dr. Patrick Gruber to Participate in Water Tower Research Fireside Chat Series

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Dr. Patrick Gruber to Participate in Water Tower Research Fireside Chat Series on Tuesday, December 15, 2020, at 3:00 pm EST

 

ENGLEWOOD, Colorado – December 10, 2020 – Gevo, Inc. (NASDAQ: GEVO), announced today that Dr. Patrick Gruber, Chief Executive Officer, will participate in Water Tower Research Fireside Chat Series to discuss Storing Renewable Energy Through the Creation of Liquid Hydrocarbons on Tuesday, December 15, 2020 at 3:00 pm EST.

Investors and other persons interested in participating in the event must register using the link below. Please note that registration for the live event is limited but may be accessed at any time for replay after the presentation ends on December 15, 2020, utilizing the same registration link.

Registration Link:

https://globalmeet.webcasts.com/starthere.jsp?ei=1412691&tp_key=5b7e03f74e

 

About Gevo

Gevo is commercializing the next generation of jet fuel, gasoline and diesel fuel with the potential to achieve zero carbon emissions and address the market need of reducing greenhouse gas emissions with sustainable alternatives. Gevo uses low-carbon renewable resource-based carbohydrates as raw materials, and is in an advanced state of developing renewable electricity and renewable natural gas for use in production processes. As a result, Gevo is able to produce low-carbon fuels with substantially reduced carbon intensity (as measured by the level of greenhouse gas emissions compared to standard petroleum fossil-based fuels across their lifecycle). Gevo’s products perform as well or better than traditional fossil-based fuels in infrastructure and engines, but with substantially reduced greenhouse gas emissions. In addition to addressing the environmental problems of fossil-based carbon fuels, Gevo’s technology also enables certain plastics, such as polyester, to be made with more sustainable ingredients. Gevo’s ability to penetrate the growing low-carbon fuels market depends on the price of oil and the value of abating carbon emissions that would otherwise increase greenhouse gas emissions. Gevo believes that its proven, patented, technology that enables the use of a variety of low-carbon sustainable feedstocks to produce price-competitive, low carbon products, such as jet fuel, gasoline components like isooctane and isobutanol and diesel fuel, yields the potential to generate project and corporate returns that justify the build-out of a multi-billion dollar business. Learn more at our website: www.gevo.com

Investor & Media Contact
IR@gevo.com
+1 720-647-9605

SOURCE: Gevo

Release – Palladium One Mining (NKORF)(PDM:CA) – Discovery Indicates Significant Mineralization Potential at the Disraeli PGE Project

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Palladium One Discovery Indicates Significant Mineralization Potential at the Disraeli PGE Project

 

December 9, 2020 – Toronto, Ontario – A new high-resolution drone magnetic survey discovery has outlined a significant magnetic signature, a key indicator of mineralization in the Mid-Continental Rift (“MCR”), where the Disraeli PGE Project is located, in Ontario, Canada said Palladium One Mining Inc. (TSX-V: PDM, FRA: 7N11, OTC: NKORF) (the “Company” or “Palladium One”) today. The magnetic survey (“Mag”) outlined a large, reversely polarized, magnetic body coincident with AeroTEM electromagnetic (“EM”) anomalies.

“Reversely polarized magnetic bodies are very important indicators of mineralization within the Mid-Continental Rift as demonstrated by nearby palladium-platinum-nickel-copper mineral deposits and mines, which are in part, reversely polarized. The target is high-grade PGE-rich nickel-copper mineralization located within magma conduits similar to Clean Air Metals Inc.’s Thunder Bay North (“TBN”) and Escape Lake deposits.” said Derrick Weyrauch, President and CEO.

“Disraeli’s Hook Bay zone is clearly a more primitive portion of the greater Disraeli intrusion. The presence of airborne EM conductors coincident with a reversely polarized magnetic body, something that does not occur at TBN, suggests the potential for semi or even massive sulphides. Rare massive sulphide intercepts at TBN have returned impressive grades such 98 g/t PGE (52.8 g/t Pd, 41.5 g/t Pd, 3.9 g/t Au), 3.3% Ni, and 11.6% Cu over 2.6 meters in hole BL10- 197 (see Magma Metals Limited News Release February 15, 2010). These grades reflect the very high metal tenor of the sulphides, which is the hallmark of the PGE-rich mineralization in the Nipigon Plate portion of the Mid-Continent Rift.” commented Weyrauch.

An exploration drill permit has been received and the Company plans to drill Disraeli in February 2021, pending winter ice conditions.

Disraeli is located 40 kilometers north of Clean Air Metals Inc’s TBN project and only 50 kilometers east from Impala Platinum Holdings Ltd’s (“Implats”) Lac Des Iles palladium Mine (Figure 1 and 2)

Figure 1. Illustration of Proterozoic Mid-Continent Rift and select associated copper-nickel-palladium-platinum deposits. The Eagle Mine operated by Lundin Mining hosts a Measured and Indicated Resource of 4.6 million tonnes grading 3.7% Ni, 3.1% Cu, 0.9 g/t Pt, 0.7 g/t Pd (2017 Lundin NI 43-101 report).

Figure 2. Illustrating the Nipigon Plate portion of the Proterozoic Mid-Continent Rift showing the West Nipigon Lineament which connects the Disraeli, Seagull and TBN intrusions. The Archean aged, Lac des Iles Palladium mine, located 50 kilometers west of Disraeli is also shown.

Preliminary Analysis:

  • The West Nipigon Lineament (Figure 2), is believed to be a control structure for the emplacement of the TBN (Clean Air Metals Inc.), Seagull (Quadro Resources Ltd.), and Disraeli intrusions and is prospective for additional magma conduits such as those found at TBN and Escape Lake.
  • The high-resolution drone magnetic survey identified a very strong, reversely polarized magnetic body beneath the southeast bay (Hook Bay) of Disraeli Lake. (Figure 3 and 4).
  • Reversely Polarized rocks are a key indicator for early mafic-ultramafic intrusives associated with PGE-Ni-Cu mineralization in the Mid-Continent Rift. Portions of the nearby TBN, Escape Lake, Sunday Lake (Implats), and Marathon (Generation Mining) deposits are also reversely polarized.
  • The reversely polarized Hook Bay magnetic body is coincident with several AeroTEM EM anomalies that were outlined by a previous operator in 2011 and 2014 but were never drill tested (Figure 4 and 5).
  • The presence of airborne AeroTEM EM anomalies suggest the possibility of not only disseminated mineralization but also semi massive or even massive sulphides.
  • A lake sediment survey conducted in 2020 has shown a consistently greater ultramafic signature beneath Hook Bay compared to the rest of the Disraeli Lake. Ultramafic rocks were also observed along the western shore of Hook Bay. All of which point to this area being a much more primitive part of the Disraeli intrusion, and hence potentially close to the magma conduit which fed the intrusion.
  • The Disraeli intrusion has seen much less exploration than adjacent intrusions in the Nipigon Plate, only 8 holes have been drilled on the property, and none have tested beneath Disraeli Lake. There is a precedent for magma conduits being located beneath lakes. Both TBN and Escape Lake magma conduits occur beneath the Current and Steepledge lakes, respectively.

Target Model:

  • High-grade PGE-rich Ni-Cu mineralization located within magma conduits similar to Clean Air Metals Inc.’s Thunder Bay North and Escape Lake deposits.

Figure 3. 2011, 100-meter spaced AeroTEM survey, total magnetic field reduced to the pole (TMI-RTP) with 2014 Condor Geophysics interpretation highlighting the Disraeli ultramafic body (DLUB). Note the reversely polarised body in the southeast bay (Hook Bay) of Disraeli Lake. The Disraeli property boundary shown in red, 2020 detailed drone survey area outlined in yellow, and the Hook Bay reversely polarized body shown by dashed blue line.

Figure 4. Image (A) is the 2020 drone based, 25-meter spaced survey, TMI-RTP mag, target DL-01 is the Hook Bay strongly magnetic reversely polarized body. Image (B) are EM anomaly picks and Maxwell plates models by Condor Consulting in 2014 from the 2011 AreoTEM survey. The background image is a 60-meter conductivity depth slice.

Figure 5. Image (A) is an isometric view of the Hook Bay highly magnetic body looking north. Image (A) was generated by Abitibi Geophysics using VOXI Magnetization Vector Inversion technology (MVI) magnetic susceptibility model plotted as an isosurface using the 2020 drone magnetic survey data, MVI is considered a better technique for modelling overall magnetic susceptibility in areas like Disraeli where both positively and reversely polarized rocks occur. Image (B) is a cross section along Line A-B through the MVI magnetic susceptibility model looking north. Both images include Maxwell plate EM picks from Condor Consulting 2014 interpretation of the 2011 AeroTEM survey.

Qualified Person

The technical information in this release has been reviewed and verified by Neil Pettigrew, M.Sc., P. Geo., Vice President of Exploration and a director of the Company and the Qualified Person as defined by National Instrument 43- 101.

About Palladium One

Palladium One Mining Inc. is an exploration company targeting district scale, platinum-group-element (PGE)-coppernickel deposits in Finland and Canada. Its flagship project is the Läntinen Koillismaa or LK Project, a palladiumdominant platinum group element-copper-nickel project in north-central Finland, ranked by the Fraser Institute as one of the world’s top countries for mineral exploration and development. Exploration at LK is focused on targeting disseminated sulfides along 38 kilometers of favorable basal contact and building on an established NI 43-101 open pit resource.

ON BEHALF OF THE BOARD
“Derrick Weyrauch”
President & CEO, Director

For further information contact:
Derrick Weyrauch, President & CEO
Email:
info@palladiumoneinc.com

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

This press release is not an offer or a solicitation of an offer of securities for sale in the United States of America. The common shares of Palladium One Mining Inc. have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.

Information set forth in this press release may contain forward-looking statements. Forward-looking statements are statements that relate to future, not past events. In this context, forward-looking statements often address a company’s expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in palladium and other commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the absence of dividends; competition; dilution; the volatility of our common share price and volume; and tax consequences to Canadian and U.S. Shareholders. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.

Source: Palladium One Mining Inc.

Kratos Defense & Security (KTOS) – $37.7 million Skyborg Award

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Wednesday, December 09, 2020

Kratos Defense & Security (KTOS)
$37.7 million Skyborg Award

Kratos Defense & Security Solutions is a National Security technology provider with proprietary expertise in the area of unmanned aerial vehicles, electronics for missile defense systems, electronic warfare systems, satellite control and management systems and support services for emerging naval weapon systems. Commercial and state and local government revenues are about 25% of the total and comprise primarily of critical infrastructure monitoring and protection systems.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Skyborg Award. Monday evening, Kratos was awarded a $37.7 million Skyborg Program contract from the USAF Advanced Aircraft Office to integrate, test, and deliver XQ-58A Valkyrie aircraft for the Skyborg program. Kratos will produce missionized prototypes with the ability to fly in experimentation events while teaming with manned aircraft. We view Monday’s announcement as a significant step in the Company’s unmanned systems program.

    One of 3, But No Northrup Grumman.  Kratos was one of three firms receiving an award, the others being Boeing ($25.7 million award) and General Atomics ($14.3 million award). Significantly, left out was Northrup Grumman, one of the original four firms announced in July to have received awards to move forward in the Air Force program to build an AI-enabled drone wingman …



This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Release – Xenetic Biosciences (XBIO) – Announces Positive Data from Pivotal Phase 3 Clinical Trial Utilizing PolyXen(R) Platform Technology

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Xenetic Biosciences, Inc. Announces Positive Data from Partner’s Pivotal Phase 3 Clinical Trial Utilizing PolyXen(R) Platform Technology

 

  • Xenetic leverages its proprietary drug delivery platform, PolyXen, through partnerships with biotechnology and pharmaceutical companies to improve the half-life and other pharmacological properties of next-generation biologic drugs
  • Epolong, a polysialylated form of recombinant human erythropoietin that leverages PolyXen, has been shown to be effective and generally well tolerated in Pharmsynthez-conducted trial as a treatment for anemia in patients with chronic kidney disease

FRAMINGHAM, MA / ACCESSWIRE / December 9, 2020 / Xenetic Biosciences, Inc. (NASDAQ:XBIO) (“Xenetic” or the “Company”), a biopharmaceutical company focused on advancing XCART™, a personalized CAR T platform technology engineered to target patient- and tumor-specific neoantigens, today announced its partner, PJSC Pharmsynthez, has reported in a press release positive data from its pivotal Phase 3 clinical study leveraging PolyXen® to develop a treatment for anemia in patients with chronic kidney disease (CKD).

PolyXen is Xenetic’s patent-protected platform technology designed for protein or peptide therapeutics, enabling next-generation biological drugs by prolonging a drug’s circulating half-life and potentially improving other pharmacological properties. The PolyXen technology platform was used by Pharmsynthez to develop Epolong (also known as ErepoXen™ or PSA-EPO), a polysialylated form of recombinant human erythropoietin, a hormone produced by the kidneys to promote blood cell production. Pharmsynthez reported in its press release that Epolong is under investigation with the goal of reducing the required dosing frequency and reducing potential side effects, as compared to existing EPO products.

As reported in the press release issued by Pharmsynthez, the pivotal Phase 3 multi-center randomized study was conducted in Russia by Pharmsynthez and was designed to study the efficacy, safety and tolerability of Epolong in comparison with Aranesp® (darbepoetin alfa), the current leader in the long-acting erythropoietin segment. The study enrolled approximately 150 patients with CKD across 36 medical institutions. The results of the study indicated that Epolong was non-inferior to Aranesp with respect to primary and secondary endpoints. Furthermore, the proportion of patients who achieved the target hemoglobin range (10.0-12.0 g/dL inclusive) during the evaluation period was 74% in the Epolong group versus 52% in the Aranesp group. Pharmsynthez also reported that the study revealed that the proportion of patients who exceeded the target threshold level of hemoglobin (12.0 g/dL) was 3.5 times greater in the Aranesp group than in the Epolong group (34.7% versus 10.0%, respectively).

“The PolyXen platform continues to demonstrate broad utility and ability to modulate the pharmacokinetic and pharmacodynamic profiles of protein drugs. We are pleased with the positive results Pharmsynthez has reported and we look forward to the outcome of their registration filing in Russia for Epolong, which they expect to submit in 2021,” commented Jeffrey Eisenberg, Chief Executive Officer of Xenetic.

In clinical and preclinical settings, therapeutic proteins polysialylated with the PolyXen platform have been shown to have extended circulating half-life, improved thermodynamic stability and resistance to proteases, while retaining pharmacological activity. PolyXen has been demonstrated in human clinical trials to confer prolonged half-life on biotherapeutics such as recombinant human erythropoietin and recombinant Factor VIII (“rFVIII”). PolyXen has potential utility in other molecule classes such as peptides and small molecules. The Company is leveraging its PolyXen technology through an exclusive license agreement with Takeda Pharmaceuticals Co. Ltd. in the field of coagulation disorders and receives royalty payments under this agreement.

About Pharmsynthez

Pharmsynthez PJSC (MOEX: LIFE) is a Russian pharmaceutical company that develops new medicines, drug technologies for organ-specific delivery, and innovative methods of manufacturing pharmaceutical ingredients. The company is engaged in production and sale of both medicines for the treatment of respiratory diseases (original OM) and active pharmaceutical ingredients (API). The company has a research and production complex in Kapitolovo, commissioned in 2001. Pharmsynthez actively cooperates with North American, Canadian and European companies in the field of chemical compounds and API production.

About Xenetic Biosciences

Xenetic Biosciences, Inc. is a biopharmaceutical company focused on progressing XCART™, a personalized CAR T platform technology engineered to target patient- and tumor-specific neoantigens. The Company is initially advancing cell-based therapeutics targeting the unique B-cell receptor on the surface of an individual patient’s malignant tumor cells for the treatment of B-cell lymphomas. XCART™ has the potential to fuel a robust pipeline of therapeutic assets targeting high-value oncology indications.

Additionally, Xenetic is leveraging PolyXen®, its proprietary drug delivery platform, by partnering with biotechnology and pharmaceutical companies. PolyXen® has demonstrated its ability to improve the half-life and other pharmacological properties of next-generation biologic drugs. The Company has an exclusive license agreement with Takeda Pharmaceuticals Co. Ltd. in the field of coagulation disorders and receives royalty payments under this agreement.

For more information, please visit the Company’s website at www.xeneticbio.com and connect on Twitter, LinkedIn, and Facebook.

Forward-Looking Statements

This press release contains forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than statements of historical facts may constitute forward-looking statements within the meaning of the federal securities laws. These statements can be identified by words such as “expects,” “plans,” “projects,” “will,” “may,” “anticipates,” “believes,” “should,” “intends,” “estimates,” and other words of similar meaning, including, but not limited to, statements regarding: expectations regarding Epolong’s investigation and goal of reducing the required dosing frequency and reducing potential side effects compared to existing EPO products; our belief that the PolyXen platform continues to demonstrate broad utility and ability to modulate the pharmacokinetic and pharmacodynamic profiles of protein drugs; expectations regarding the outcome of Pharmsynthez’s registration filing in Russia for Epolong and timing of such registration filing, which is expected to be submitted in 2021; our plans to initially apply the XCART technology to advance cell-based therapeutics by targeting the unique B-cell receptor on the surface of an individual patient’s malignant tumor cells for the treatment of B-cell lymphomas; our expectations that XCART has the potential to fuel a robust pipeline of therapeutic assets targeting high-value oncology indications; our plans to leverage PolyXen® by partnering with biotechnology and pharmaceutical companies; and our expectation regarding receipt of royalty payments under the exclusive license agreement with Takeda Pharmaceuticals Co. Ltd. Any forward-looking statements contained herein are based on current expectations, and are subject to a number of risks and uncertainties. Many factors could cause our actual activities, performance, achievements, or results to differ materially from the activities and results anticipated in forward-looking statements. Important factors that could cause actual activities, performance, achievements, or results to differ materially from such plans, estimates or expectations include, among others, (1) unexpected costs, charges or expenses resulting from the acquisition of XCART; (2) uncertainty of the expected financial performance of the Company following completion of the acquisition of XCART; (3) failure to realize the anticipated potential of the XCART or PolyXen technology; (4) the ability of the Company to implement its business strategy; (5) failure of the Pharmsynthez to timely register Epolong in Russia, or at all; and (6) other risk factors as detailed from time to time in the Company’s reports filed with the SEC, including its annual report on Form 10-K, periodic quarterly reports on Form 10-Q, periodic current reports on Form 8-K and other documents filed with the SEC. The foregoing list of important factors is not exclusive. In addition, forward-looking statements may also be adversely affected by general market factors, general economic and business conditions, including potential adverse effects of public health issues, such as the COVID-19 outbreak on economic activity, competitive product development, product availability, federal and state regulations and legislation, the regulatory process for new product candidates and indications, manufacturing issues that may arise, patent positions and litigation, among other factors. The forward-looking statements contained in this press release speak only as of the date the statements were made, and the Company does not undertake any obligation to update forward-looking statements, except as required by law.

Contact:
JTC Team, LLC
Jenene Thomas
(833) 475-8247
xbio@jtcir.com

SOURCE: Xenetic Biosciences, Inc.

Release – Golden Predator Mining (NTGSF)(GPY:CA) – The Newfoundland Gold Rush and C2C Gold Corp

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The Newfoundland Gold Rush and C2C Gold Corp.

 

Shawn Ryan, world-famous prospector, joins Janet Lee-Sheriff, Executive Chair, and Lori Walton, CEO, of C2C Gold Corp. to discuss Newfoundland, THE exciting new gold district, and C2C’s growing position in the region.

Thursday, December 10th at 11 AM PST

Please register and join us at for a presentation plus Q&A at:

https://attendee.gotowebinar.com/register/1313530878031715342

Golden Predator Mining Corp. (TSX.V:GPY, OTCQX:NTGSF) owns 27% of C2C Gold Corp. (CTOC.CSX)

About C2C Gold Corp.

C2C Gold Corp is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in Newfoundland, Canada. The Company holds the Millertown, Badger and Barren Lake projects, which cumulatively cover an area of 493 km² with road access and proximity to communities and power lines. All projects lie with the Central Newfoundland Gold Belt and provide a large land position in a top mineral exploration jurisdiction. Mineral development in Newfoundland has advanced significantly with increased exploration and development activities throughout the province. C2C also holds one of the largest land packages, with several prominent projects, within the prolific White Gold and Klondike districts in Canada’s Yukon.

About Golden Predator Mining Corp.

Golden Predator is advancing the past-producing Brewery Creek Mine towards a timely resumption of mining activities, under its Quartz Mining and Water Licenses, in Canada’s Yukon. With established resources grading over 1.0 g/t Gold the Company is completing a Bankable Feasibility Study for the restart of heap leach operations. The Brewery Creek Mine project operates with a Socio Economic Accord with the Tr’ondëk Hwëch’in First Nation.

For additional information on C2C Gold Corp.:
Lori Walton, Chief Executive Officer
(604)757-7180

info@c2cgold.com
www.c2cgold.com

For additional information on Golden Predator Mining Corp.:
Janet Lee-Sheriff Chief Executive Officer
(604) 260-8435
info@goldenpredator.com
www.goldenpredator.com

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Source: Golden Predator Mining

Release – Brixton Metals Corporation (TSXV: BBB) – Drills 3m At Its Langis Project

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Brixton Metals Drills 3m Of 647 G/T Ag Including 1m Of 1,845 G/T Ag At Its Langis Project, Ontario, Canada

 

December 8, 2020 – Brixton Metals Corporation (TSXV: BBB) (the “Company” or “Brixton”) is pleased to announce the initial drill results from its fall/winter exploration program on the Langis Mine Project located in the Cobalt Camp of Ontario. The Company has received assays for the first 17 holes totaling 1624m of NQ size core. Approximately 6,000m of the 20,000m planned fall/winter drilling campaign have been completed. Drill holes follow a fan-type array with depths ranging from 52.5m to 148.4m across the main trend.

Highlights

  • Hole LM20-93 intercepted three mineralized intervals near surface, including:
    • 6m of 193 g/t Ag from 2.6m; including 3m of 351 g/t Ag, including 1m of 990 g/t Ag
    • 4m of 127 g/t Ag from 17.6m, including 2m of 238 g/t Ag
    • 3m of 647 g/t Ag from 32.6m including 1m of 1845 g/t Ag
  • LM20-96 returned 7m of 222.9 g/t Ag including 4m of 360 g/t Ag and 1m of 692 g/t Ag
  • LM20-102 intercepted 4m of 333 g/t Ag including 1m of 904 g/t Ag, 0.2% Co

Chairman and CEO of Brixton, Gary R. Thompson stated, “It is encouraging to see the high-grade silver and cobalt mineralization over meaningful intervals above the historic workings. Based on the current gold/silver ratio of 75:1, the lower interval in hole LM20-93 of 3m of 647 g/t Ag is equivalent to 8.6 g/t Au. Drilling is ongoing as we work toward a maiden resource at Langis.”

These drilling results continue to support the existence of new, shallow, high-grade silver-cobalt mineralization around the Shaft 3 area. Historical drilling around the Shaft 3 area is very limited and mostly underground. Silver-cobalt mineralization was first drilled by the Company in 2018 and has continued to bring encouraging results from subsequent drilling campaigns. “Defining and adding a new silver-cobalt zone could significantly increase the Langis silver resource potential” said Antonio Celis, Senior Geologist and QP for Brixton Metals.

Figure 1. Location of the Shaft 3 drilling area.

Table 1. Langis Fall 2020 Drilling Highlights near Shaft 3.

Intervals represent drilled lengths and the true widths of the silver and cobalt mineralization have not been determined at this time. Results are weighted average grades.

Figure 2. Cross-section showing select drill results.

Figure 3. Quartz carbonate vein at 32.9m, LM-20-93, with 2-5% silver arsenides and tabular rip up clasts of host conglomerate. Chaotic native silver stringers penetrate the host rock within the 10cm wide vein salvage

Figure 4. LM-20-91 from 2.73m depth, cobaltite, cobalt bloom, native silver in quartz-carbonate veins.

Figure 5. Hole LM-20-98, quartz carbonate cobaltite-silver arsenide vein and cobalt bloom at 9.48m hosted in conglomerate.

Figure 6. Hole LM20-102 silver arsenide stringers with native silver and silver rosettes at 3.5m.

Figure 7. Hole LM20-102 quartz carbonate cobaltite vein with silver arsenides, native silver and cobalt bloom at 4.17m.

Quality Assurance & Quality Control

Diamond drill holes were drilled to depth NQ size. Samples were collected using 1m average sample length. Three quality control samples (one blank, one standard and one duplicate) were inserted into each batch of 20 samples. The drill core was sawn, with half put in batches, sealed and shipped by the Company geologists to ALS Minerals preparation lab in Sudbury, Ontario. ALS Minerals Laboratories are registered to ISO 9001:2008 and ISO 17025 accreditations for laboratory procedures. Blank, duplicate and certified reference materials were inserted into the sample stream. All elements were analyzed by Aqua Regia Digest with ICP-AES finish. Silver over-limits were analyzed by fire assay with gravimetric finish. Base metal over-limits were analyzed with Aqua Regia Digest and AES finish. A copy of the QAQC protocols can be viewed at the Company’s website.

About the Langis Mine Project

Brixton’s wholly owned Langis Mines Project is a past producing mine located 500km north from Toronto, Ontario, Canada with excellent infrastructure. The silver mineralization occurs as native silver and within steeply-moderately and in some cases shallow dipping veins, veinlets and as disseminations rosettes and fracture infill and can be associated with calcite, hematite, pyrite, cobaltite, chalcopyrite, niccolite and gold. Mineralization is hosted within any of the three main rock types: Archean volcanics and metasediments, Coleman Member sediments and Nipissing diabase. The Langis mine produced 10.6Moz of silver at 787 g/t Ag and 358,340 pounds of cobalt. Historically, the combined mines in the Cobalt Camp produced 550 million ounces of silver with 30-50 million pounds of cobalt as a by-product.

Mr. Antonio Celis, P.Geo., who is a qualified person as defined by National Instrument 43-101, reviewed and approved the information in this press release.

About Brixton Metals Corporation

Brixton is a Canadian exploration and development company focused on the advancement of its mining projects toward feasibility. Brixton wholly owns four exploration projects, the Thorn copper-gold-silver Project, the Atlin Goldfields Projects located in NWBC, the Langis-HudBay silver-cobalt Project in Ontario and the Hog Heaven silver-gold-copper Project in NW Montana, USA. Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB, and on the OTCQB under the ticker symbol BBBXF. For more information about Brixton please visit our website at www.brixtonmetals.com.

On Behalf of the Board of Directors
Mr. Gary R. Thompson, Chairman and CEO
Tel: 604-630-9707 or email: info@brixtonmetals.com

For Investor Relations, please contact:
Mitchell Smith, VP Investor Relations
Tel: 604-630-9707 or email: mitchell.smith@brixtonmetals.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.

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, or other similar expressions. All statements, other than statements of historical fact included herein including, without limitation, statements regarding the use of proceeds, By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; and the additional risks identified in the annual information form of the Company or other reports and filings with the TSXV and applicable Canadian securities regulators. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

Source: Brixton Metals

Palladium One Mining Inc. (NKORF)(PDM:CA) – Tyko Nickel Project Drilling Program Yields Success

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Tuesday, December 08, 2020

Palladium One Mining Inc. (NKORF)(PDM:CA)
Tyko Nickel Project Drilling Program Yields Success

Noble Capital Markets research on Palladium One Mining is published under ticker symbols (NKORF and PDM:CA). The price target is in USD and based on ticker symbol NKORF. Palladium One Mining Inc is a palladium dominant, PGE, nickel, copper exploration and development company. Its assets consist of the Lantinen Koillismaa and Kostonjarvi PGE-Cu-Ni projects, located in north-central Finland and the Tyko Ni-Cu-PGE and Disraeli PGE-Ni-Cu properties in Ontario, Canada. LK is targeting disseminated sulphide along 38 kilometers of favorable basal contact. The KS project is targeting massive sulphide within a 20,000-hectare land package covering a regional scale gravity and magnetic geophysical anomaly. Tyko is a 13,000-hectare project targeting disseminated and massive sulphide in a highly metamorphosed Archean terrain. Disraeli is a 2,500-hectare project targeting PGE-rich disseminated and massive sulphide in a highly productive Proterozoic mid-continent rift.

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    First occurrence of massive sulphides. Ground based magnetic surveys have identified two near-surface, closely spaced conductors, the largest of which has a strike length of over 300 meters. Hole TK-20-15 intersected 2 meters of magmatic sulphides from 31 to 32 meters at depth, while Hole TK-20-16, drilled from the same pad, intersected 4 meters of magmatic sulphides from 29 to 33 meters at depth. The initial drill holes, coupled with information from recent magnetic and electromagnetic surveys suggest a shallow southwest dipping massive sulphide body which plunges to the west-northwest. We find these results very encouraging so early in the program.

    Potential for a sulphide-rich nickel-copper deposit? The properties of the rock in the first two holes resemble those found at the Tyko and RJ showings, located 17 kilometers to the west, which have returned up to 1.06% nickel and 0.35% copper over 6.22 meters, including 4.71% nickel and 0.82% copper over 0.87 meters in diamond drilling. Earlier this year, Palladium One conducted reconnaissance …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

DLH Holdings Corp. (DLHC) – Covid Continues to Impact Revenues But Well Positioned Going Forward

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Tuesday, December 08, 2020

DLH Holdings Corp. (DLHC)
Covid Continues to Impact Revenues; But Well Positioned Going Forward

DLH Holdings Corp is a provider of technology-enabled business process outsourcing and program management solutions in the United States. The company offers services to several government agencies which include the Department of veteran affairs, Department of health and human services, Department of Defense and other government agencies. It operates primarily through prime contracts and also derives its revenue from agencies of the federal government, primarily as a prime contractor but also as a subcontractor to other Federal prime contractors.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    4Q20 Results. Revenues were $50.7 million, down from $54.2 million a year ago. Revenue was negatively impacted by COVID with deferrals in certain programs and a reduction in pass-through revenue. We had projected $54 million and consensus was $55.2 million. EPS was $0.10, down from $0.12 y-o-y, although 4Q20 results were impacted by $930,000 of acquisition costs, which reduced 4Q20 EPS by $0.05. We were at $0.14 and consensus was $0.15. EBITDA was $4.4 million ($5.3 million adjusted) versus $5.3 million in the prior year period.

    Growing Opportunity Set.  With an expanded portfolio of mission-critical related services across multiple government agencies, DLH is well positioned to capitalize on expected growth in its key focus areas such as veterans health, public health, and life sciences. The IBA and S3 acquisitions have expanded the Company’s opportunity set and ability to capture additional share at existing clients …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Palladium Prices Are Expected to Remain Strong

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Palladium Is the Most Valuable of the Four Precious Metals

 

The global transportation market is undergoing rapid change. Efforts to reduce global warming are resulting in more stringent emissions standards to reduce near-term greenhouse gas emissions, coupled with a longer-dated push toward electric vehicle adoption. Beneficiaries include mining companies that produce clean-air metals, including platinum and palladium for catalytic converters, and producers of battery metals, including copper, lithium, nickel, and cobalt. While the increasing need for metals used for EV batteries has been well-chronicled, investors may be unaware of the severe palladium supply deficit that has been driving high palladium prices. As a result, palladium is the most expensive of the four precious metals (gold, silver, palladium, and platinum).

What are Platinum Group Metals?

Palladium is one of six platinum-group metals, along with ruthenium, rhodium, osmium, iridium, and platinum. About 84%, or 9.6 million ounces of palladium ends up in the exhaust systems in cars to reduce toxic pollutants. The metal is mined primarily in Russia and South Africa, and mostly extracted as a by-product from mining other metals, including platinum and nickel. As a result, producers have not been able to quickly respond to higher prices due to limited dedicated production. Demand has increased due to stricter auto emissions standards and a move away from diesel power vehicles which use platinum for the auto catalysts. As a result, new sources of palladium supply are needed to meet demand and help achieve stricter air quality standards. 

The figure below summarizes palladium supply and demand during the period 2009 through 2019. 

Palladium Supply and Demand

Source: Johnson Matthey Market Report, May 2020

 

Will Automakers Switch to Platinum?

Most notably, palladium prices have benefited from a multi-year supply deficit driven by limited new supply sources and increasing environmental regulations that has increased demand. As a result, the price of palladium surpassed gold in 2019. Year-to-date through December 4, 2020, palladium futures prices increased 23.2% to $2,355 per ounce, compared with gold’s rise of 18.7% to $1,840 per ounce. While platinum is a substitute metal in catalytic converters, its price increased only 10.2% to $1,071 per ounce during the same period. While automakers originally switched from platinum to palladium in the 2000s to take advantage of palladium’s lower price, they have been reluctant to switch back due to potential disruptions to existing supply and manufacturing configurations, compliance with existing standards, the limited impact such a change would have on overall vehicle cost, and automakers’ focus on next generation technologies. According to the Financial Times, Nornickel, one of the largest producers of palladium, believes automakers have little appetite for changes in the catalyst chemistry as their engineering resources are focused on meeting new tighter emission legislation and carmakers are too busy transitioning to EV technologies and do not want to devote resources to new auto catalyst technologies. Most platinum group element mining companies produce both platinum and palladium so partial substitution, while not fully eliminating the palladium supply deficit, would likely provide a lift for platinum prices.

What about Electric Vehicles?

While widespread adoption of electric vehicles could meaningfully impact the supply and demand fundamentals for both platinum and palladium, it will likely take many years for electric vehicles to have a significant impact. First, auto catalyst demand for palladium is significant and supplies have been in a multi-year deficit that will take time to correct. Second, hybrid vehicles are expected to bridge the transition from internal combustion engines to battery powered vehicles. Hybrid electric vehicles also require palladium to reduce emissions and support growth in palladium demand. Perhaps the holy grail for investors is to identify mining companies that can capitalize on trends in both the clean air and battery metals markets with a diversified base of resources.     

Suggested Reading:

Tyko Nickel Project Drilling Program Yields Success

When Does OPEC Expect Oil Demand to Plateau?

Exploration and Production: 2020-3Q Review and Outlook

 

Virtual Road Show Series – Thursday December 10 @ 1pm EST

Join Palladium One Mining President & CEO, Derrick Weyrauch for this exclusive corporate presentation, followed by a Q & A session moderated by Mark Reichman, Noble’s senior research analyst, featuring questions taken from the audience. Registration is free, but attendance is limited to 100. Register Now  |  View All Upcoming Road Shows

 

Sources:

Why Palladium is Suddenly a More Precious Metal: QuickTake, Bloomberg, Eddie van der Walt and Ranjeetha Pakiam, January 20, 2021

PGM Market Report, Johnson Matthey, Alison Cowley, May 2020.

Palladium Surges Again but the Focus Will Soon Shift to Platinum, Forbes, Tim Treadgold, January 19, 2020.

Platinum, Palladium Prices Diverge as Car Makers See Uneven Recovery, Wall Street Journal, Will Horner, September 18, 2020.

BASF Aims to Cut Cost of Gasoline Catalysts with Switch from Palladium to Platinum, Automotive News Europe, Elena Mazneva and Justina Vasquez, March 11, 2020.

Russia’s Norilsk Says Carmakers Will Not Switch from Palladium, Financial Times, Henry Sanderson, February 26, 2020.

Another Reason to be Bullish on Palladium: The Hybrid Car Boom, Bloomberg, Yuliya Fedorina and Rupert Rowling, December 28, 2018

 

Release – Palladium One Mining (NKORF) – Discovers 4 Meters of Massive Magmatic Sulphides Near Surface at Tyko

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Palladium One Discovers 4 Meters of Massive Magmatic Sulphides, Near Surface, at Tyko

 

December 7, 2020 – Toronto, Ontario – Discovery success has been achieved with the first two drill holes of the 2020 Tyko drill program. At less than 30 meters true-depth, a 4-meter and a 2-meter wide drill intercept of massive magmatic sulphide was discovered at the Smoke Lake airborne electromagnetic (“EM”) target said Palladium One Mining (“Palladium One” or the “Company”) (TSXV: PDM, FRA: 7N11, OTC: NKORF) today.

  • Ground-based EM surveys have identified two near-surface, closely spaced conductors, the largest of which has a strike length of over 300 meters.
  • Hole TK-20-016 intersected 4 meters of massive magmatic sulphides from 29 to 33 meters down hole.
  • Hole TK-20-015, drilled from the same drill pad, intersected 2 meters of massive magmatic sulphides from 31 to 32 meters down hole.
  • Drone-based Magnetic (“Mag”) surveying has identified a strong Mag bullseye associated with soil anomalies (up to 565 ppm nickel and greater than 40 times background levels) representing the surface expression of the EM anomaly.
  • The initial drill holes along with new Mag and EM surveys suggest a shallow southwest dipping massive sulphide body which plunges to the west-northwest.

President and CEO, Derrick Weyrauch commented, “We are extremely pleased with the first two holes at Smoke Lake! This is the first occurrence of massive sulphides on the Tyko project. Given disseminated sulphides produced over 1% nickel in other zones on the project, we have high expectations for this new zone and are eagerly awaiting assay results.”

These are the first drill holes to test the Smoke Lake EM anomaly (see press release January 21, 2020). The 2020 field exploration program confirmed the soil anomaly and discovered nickel-copper sulphide mineralized boulders (up to 0.41% nickel) down ice of the EM anomaly (see press release November 18, 2020). Recent high-resolution dronebased magnetic and ground-based horizontal loop EM surveys further defined the anomaly resulting in the successful discovery of massive magmatic sulphides in the current drill program.

The lithologies in the first two holes closely resemble those found at both the Tyko and RJ showings, located 17- kilometers to the west, which have returned up to 1.06% Ni and 0.35% Cu over 6.22 m including 4.71% Ni and 0.82% Cu over 0.87m in hole TK-16-010 (see press release June 8, 2016).

Figure 1. Massive magmatic sulphide intersection in hole TK-20-016. Wall rock is tonalite.

Figure 2. Closeup of massive magmatic sulphide in hole TK-20-016

Figure 3. Closeup of massive magmatic sulphide in hole TK-20-016

Figure 4. Closeup of massive magmatic sulphide in hole TK-20-015

Figure 5. Plan map of the Smoke Lake area with 1st Vertical Mag as the background showing soil samples, as well as the axial traces of the two closely spaced ground based horizontal loop EM anomalies, and 2020 drill holes.

Figure 5. Cross section of the first two drill holes of the 2020 Smoke Lake drill program

About Tyko Ni-Cu-PGE Project

The Tyko Ni-Cu-PGE Project, is located approximately 65 kilometers northeast of Marathon Ontario, Canada. Tyko is an early stage, high sulphide tenor, nickel focused project with the most recent drill hole intercepts returning up to 1.06% Ni over 6.22 m including 4.71% Ni over 0.87m in hole TK-16-010 (see press release dated June 8, 2016).

Qualified Person

The technical information in this release has been reviewed and verified by Neil Pettigrew, M.Sc., P. Geo., Vice President of Exploration and a director of the Company and the Qualified Person as defined by National Instrument 43- 101.

About Palladium One

Palladium One Mining Inc. is an exploration company targeting district scale, platinum-group-element (PGE)-coppernickel deposits in Finland and Canada. Its flagship project is the Läntinen Koillismaa or LK Project, a palladiumdominant platinum group element-copper-nickel project in north-central Finland, ranked by the Fraser Institute as one of the world’s top countries for mineral exploration and development. Exploration at LK is focused on targeting disseminated sulfides along 38 kilometers of favorable basal contact and building on an established NI 43-101 open pit resource.

ON BEHALF OF THE BOARD
“Derrick Weyrauch”
President & CEO, Director

For further information contact:
Derrick Weyrauch, President & CEO
Email:
info@palladiumoneinc.com

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

This press release is not an offer or a solicitation of an offer of securities for sale in the United States of America. The common shares of Palladium One Mining Inc. have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.

Information set forth in this press release may contain forward-looking statements. Forward-looking statements are statements that relate to future, not past events. In this context, forward-looking statements often address a company’s expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in palladium and other commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the absence of dividends; competition; dilution; the volatility of our common share price and volume; and tax consequences to Canadian and U.S. Shareholders. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.

Source: Palladium One Mining Inc.