Month: March 2021

Palladium One Mining Inc. (NKORF)(PDM:CA) – Methodical Approach to Exploration Yielding Positive Outcomes

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Friday, March 19, 2021

Palladium One Mining Inc. (NKORF)(PDM:CA)
Methodical Approach to Exploration Yielding Positive Outcomes

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.

    Phase II drilling program. In November 2020, the company began its 17,500-meter Phase II resource definition drilling program at its palladium-dominant Lantinen Koillismaa (LK) project in Finland. To date, 34 holes, representing 6,404 meters of drilling, have been completed at Kaukua South. Results for 22 drill holes have been released, while 12 are pending. Drilling has focused on defining mineralization to a depth of 200 meters and continues to affirm continuity of near surface open pit grades and widths at Kaukua South.

    Defining Kaukua South’s expanding potential.  Induced polarization (IP) surveys have commenced to expand the 4-kilometer Kaukua South strike length by up to 3 kilometers. Based on the existing NI 43-101 pit constrained resource, favorable drill results to date, and the potential to increase the Kaukua South strike length to 7 kilometers, Palladium One has made significant progress toward advancing …



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. 

Are Inflation and Interest Rates Expected to Rise?

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What to Expect from the Fed in 2021 – Bottom Line

 

“The economy is a long way from our employment and inflation goals, and it is likely to take some time for
substantial further progress to be achieved.”

The above quote, taken from yesterday’s comments by Federal Reserve Chairman Jerome Powell, may have been intended to calm fears that the Fed may be removing some of their intense market accommodation. Leading up to this meeting, there was also concerns of additional fiscal stimulus that was feared may fuel inflation pressures and a concomitant rise in rates. This would undermine a smooth recovery. The statement after the FOMC meeting went a long way in addressing those concerns.

Economics is a social science and is impacted greatly by the actions of the masses. If the masses are confident, then there is more upward economic activity.  If the masses have concerns or doubts about the future, that very pessimism could undermine what could have been greater expansion. So, the Fed in its statements is inclined to be careful and put its more optimistic face forward. This is without regard to whether the economy is floundering or overheating. Their exuding confidence that they are in the driver’s seat and their “GPS” may show a need for some rerouting, but an expected “ETA” toward recovery is better than last projected, is what can be expected from any Fed statement.

New Economic Projections by the Fed

Most of the projections toward the Fed’s targets announced yesterday (March 17, 2021) were improved over the statements given in December. They now place their median estimate for 2021 Gross Domestic Product (GDP) at 6.5%, and 3.3% for 2022. This is significantly higher than the December forecasts of 4.2% and 3.2%. The Fed sees a reduction in unemployment and forecasts that it will reach 4.5%, the prior forecast was 5%. The unemployment rate for February was 6.2% as reported by the Department of Labor.

The inflation numbers the Fed targets are not the headline CPI-U (urban consumers) that we most often see reported or even the CPI-W (urban wage earners) that is used for COLA in many retirement plans and Social Security calculations. The Fed instead reviews Personal Consumption Expenditures inflation (see link in Sources). The Fed’s preferred price-growth gauge is projected to reach 2.4% in 2021, up from the previous 1.8% estimate. They anticipate inflation will then fall to 2% in 2022 and reach 2.1% the following year. In his post-meeting remarks, Fed Chairman Powell warned that the U.S. may experience higher than 2% inflation during 2021 but that any increases would taper next year.

 

Actions the Fed
Expects to Take

The short and the long of it is the Fed is not expected to raise rates before the end of 2023. As for the details, the FOMC is targeting maximum employment and inflation at the rate of 2 percent over the longer run. Inflation has been well below the 2% target. As a policy measure to achieve a long-term 2% rate of price increase, the Fed will aim for inflation moderately above 2 percent for some time so that inflation averages 2 percent over time. The goal is for longer-term inflation to be well anchored at 2%.

The Fed expects to maintain its accommodative (easy money) monetary policies until the Inflation goals are achieved and the economy nears full employment. The target range for the federal funds rate will be held at 0 to ¼%. They expect that this is the appropriate level until “labor market conditions have reached levels consistent with the Committee’s assessments of maximum employment and inflation has risen to 2 percent.” 

Additionally, the Federal Reserve will continue to increase its holdings of Treasury securities by at least $80 billion per month and of agency mortgage-backed securities by at least $40 billion per month. The goal of these purchases is to support the flow of credit to households and businesses.

Take-Away

We all have a stake in the economy, investors, workers, home-buyers, business owners, retirees, everyone. Actions the Fed does and does not take impact all of our lives. The main role of the Fed is to maintain a sound banking system by using the tools of monetary policy to maintain stable prices and reach maximum employment. The two are often at odds with each other.

Actions taken during 2020 in response to a medical crisis had a severe impact on the economy, which leaves the Fed (among others) in unchartered waters. The Feds projections have improved dramatically since December and are likely to be revised again along with expected actions to achieve their goals.

As for the overall outcome of the FOMC meeting, the stock and bond markets got what they were looking for, the Fed doesn’t see inflation as a problem, and it expects it will continue its extreme accommodative stance. Home-buyers may not have to rush to beat a mortgage rate surge, business owners can feel confident that the Fed is working to improve conditions, workers can feel confident that they haven’t been forgotten, and retirees can breathe a sigh of relief that the Fed feels inflation is well under control.

Paul Hoffman

Managing Editor, Channelchek

 

Suggested Reading:


Should Stock Market Investors Worry About Inflation? How Much is a Trillion?



The Correlation Between Stocks and Unemployment Will Janet Yellen as U.S. Treasury Secretary be Good for Investors?

 

Sources:

https://www.federalreserve.gov/monetarypolicy/files/fomcprojtabl20210317.pdf

https://www.federalreserve.gov/newsevents/pressreleases/monetary20210317a.htm

https://www.bls.gov/web/laus/lauhsthl.htm

https://www.bea.gov/data/personal-consumption-expenditures-price-index#:~:text=A%20measure%20of%20the%20prices,reflecting%20changes%20in%20consumer%20behavior.

https://inflationdata.com/Inflation/Inflation_Rate/CurrentInflation.asp?reloaded=true

Release – Seanergy Maritime (SHIP) – to Acquire Two Additional Capesize Vessels

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Seanergy Maritime Holdings Corp. to Acquire Two Additional Capesize Vessels

 

March 18,
2021 – Glyfada, Greece – Seanergy Maritime Holdings Corp. (the “Company”) (NASDAQ: SHIP) announced today that it has entered into agreements with unaffiliated third parties to purchase two Capesize vessels. Following their delivery, the size of the Company’s fleet will increase to 14 Capesize vessels with an aggregate cargo capacity of approximately 2.5 million dwt.  

The first vessel was built in 2013 at a reputable shipyard in Japan, has a cargo-carrying capacity of approximately 176,000 deadweight tons (“dwt”) and shall be renamed M/V
Flagship. The vessel is expected to be delivered to the Company by the end of April 2021, subject to the satisfaction of certain customary closing conditions.  

The second vessel was built in 2010 at a reputable shipyard in Japan, has a cargo-carrying capacity of approximately 182,000 dwt and shall be renamed M/V Patriotship. The vessel is expected to be delivered to the Company by the end of May 2021, subject to the satisfaction of certain customary closing conditions.  

The special survey and ballast water treatment system installation for both vessels were completed recently by the current owners and therefore the Company does not anticipate incurring significant capital expenditure for these vessels at least for the next two years. Moreover, M/V Patriotship is fitted with an exhaust gas cleaning system (scrubber).  

The aggregate purchase price for the two vessels is approximately $55 million and is expected to be funded with cash on hand. The Company is also in discussions with leading financial institutions to finance part of the acquisition cost at competitive financing terms.  

Stamatis
Tsantanis, the Company’s Chairman & Chief Executive Officer, stated: 

“We are very pleased to announce the acquisition of two high-quality Capesize vessels built at reputable shipyards in Japan. The M/Vs Flagship and Patriotship, both delivering promptly and in a rapidly increasing market environment, represent great added value for Seanergy, the only U.S. listed pure-play Capesize company. Following the delivery of these two vessels and a third acquisition announced last month, our fleet’s cargo carrying capacity will increase by 28% as compared to the beginning of the year.   

The average of the Baltic Capesize Index for the current quarter stands at substantially higher levels than for the same period in recent years, while the Capesize forward freight contracts (“FFA”) for the second half of 2021 are trading at $23,000 per day. Based on current FFA rates, the incremental net revenue from all three acquisitions announced so far this year may exceed $15 million for the remainder of the year, assuming the expected deliveries for the vessels. Seanergy is ideally positioned to capture the substantial improvement of the market as all the vessels of our fleet will be deployed in the spot market or on index-linked time charters.  

Since the beginning of 2021 we have concluded or have agreed to significant accretive transactions and we will continue to actively pursue similar deals, aiming to create substantial shareholder value in the coming years.” 

Company
Fleet upon Vessels’ delivery: 

Vessel Name 

Vessel Class 

Capacity (DWT) 

Year Built 

Yard 

Employment 

Partnership  

Capesize 

179,213 

2012 

Hyundai 

T/C Index Linked  

Championship  

Capesize 

179,238 

2011 

Sungdong 

T/C Index Linked  

Lordship  

Capesize 

178,838 

2010 

Hyundai 

T/C Index Linked  

Premiership 

Capesize 

170,024 

2010 

Sungdong 

T/C Index Linked  

Squireship 

Capesize 

170,018 

2010 

Sungdong 

T/C Index Linked  

Knightship 

Capesize 

178,978 

2010 

Hyundai  

T/C Index Linked  

Gloriuship 

Capesize 

171,314 

2004 

Hyundai 

T/C Index Linked  

Fellowship 

Capesize 

179,701 

2010 

Daewoo 

T/C Index Linked 

Geniuship 

Capesize 

170,058 

2010 

Sungdong 

T/C Index Linked 

Goodship 

Capesize 

177,536 

2005 

Mitsui Engineering 

Voyage/Spot 

Leadership 

Capesize 

171,199 

2001 

Koyo – Imabari 

Voyage/Spot 

Tradership 

Capesize 

176,925 

2006 

Japanese Shipyard 

N/A 

Flagship 

Capesize 

176,387 

2013 

Japanese Shipyard 

N/A 

Patriotship 

Capesize 

181,709 

2010 

Japanese Shipyard 

N/A 

  Total  

2,461,138         

14 

 

About
Seanergy Maritime Holdings Corp. 

Seanergy Maritime Holdings Corp. is the only pure-play Capesize ship-owner publicly listed in the US. Seanergy provides marine dry bulk transportation services through a modern fleet of Capesize vessels. Upon delivery of the new vessels, the Company’s operating fleet will consist of 14 Capesize vessels with an average age of 12 years and aggregate cargo carrying capacity of approximately 2,461,138 dwt. 

The Company is incorporated in the Marshall Islands and has executive offices in Glyfada, Greece. The Company’s common shares trade on the Nasdaq Capital Market under the symbol “SHIP”, its Class A warrants under “SHIPW” and its Class B warrants under “SHIPZ”. 

Please visit our company website at: www.seanergymaritime.com  

Forward-Looking
Statements 

This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events. Words such as “may”, “should”, “expects”, “intends”, “plans”, “believes”, “anticipates”, “hopes”, “estimates” and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the Company’s operating or financial results; the Company’s ability to continue as a going concern; the Company’s liquidity, including its ability to service its indebtedness; competitive factors in the market in which the Company operates; shipping industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; future, pending or recent acquisitions and dispositions, business strategy, areas of possible expansion or contraction, and expected capital spending or operating expenses; risks associated with operations outside the United States; risks associated with the length and severity of the ongoing novel coronavirus (COVID-19) outbreak, including its effects on demand for dry bulk products and the transportation thereof; and other factors listed from time to time in the Company’s filings with the SEC,  its most recent annual report on Form 20-F. The Company’s filings can be obtained free of charge on the SEC’s website at www.sec.gov. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. 

For further
information please contact: 

Seanergy Investor Relations 
Tel: +30 213 0181 522 

E-mail: ir@seanergy.gr 

Capital Link, Inc.  
Daniela Guerrero 
230 Park Avenue Suite 1536  
New York, NY 10169  
Tel: (212) 661-7566  
E-mail: seanergy@capitallink.com  

Source: Seanergy Maritime Holdings Corp.

Release – Palladium One Mining (NKORF)(PDM:CA) – Expands High-Grade at Kaukua South Drills 47 Meters

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Palladium One Expands High-Grade at Kaukua South, Drills 47 Meters @ 2.6 g/t Pd_Eq, Including 12 Meters @ 4.2 g/t Pd_Eq

 

March 18, 2021 –
Toronto, Ontario – Drilling has returned significant PGE (Platinum Group Element) grades of 47 meters at 2.6 g/t Pd_Eq, including 12 meters at
4.2 g/t Pd_Eq. (Hole LK21-045), defining a high-grade core at Kaukua South on the Läntinen Koillismaa (“LK”) PGE-Ni-Cu project in Finland, said Palladium One Mining Inc. (“Palladium One” or the “Company”) (TSXV: PDM, FRA: 7N11, OTC: NKORF) today.

Thus far, 34 holes have been drilled as part of the 17,500-meter Phase II Resource Definition drill program at Kaukua South, including today’s results 22 have been released, while results for 12 holes are pending. Drilling has been strategically undertaken to define mineralization from surface to a depth of 200 metres, leaving mineralization open at depth, across the known 4-kilometer strike length of Kaukua South. In total 6,404-meters have been drilled to date as part of the Phase II program at Kaukua South, while an additional 860-meters (6 holes) of regional exploration has been undertaken.

Derrick Weyrauch, President and CEO of Palladium One said, “Drilling at Kaukua South continues to intersect impressive grades and widths, thereby proving up the known four-kilometer strike length of Kaukua South. Induced Polarization (IP) surveys have been started to expand the Kaukua South strike length by up to three kilometers. With robust drill results thus far and the potential to increase the Kaukua South strike length to seven kilometers we are optimistic that, in addition to our existing Kaukua National Instrument 43-101 pit constrained resource, a new multi-million ounce resource is well within our reach.”

“In addition to our Phase II Kaukua South drill program and to take advantage of winter drilling conditions, 2,000 meters (12 holes) were recently drilled on the Haukiaho zone. This drilling represents completion of the infill campaign that was launched in February 2020 and suspended in March 2020 due to Covid-19. The drill program was designed to provide additional data in advance of a NI43-101 resource estimate. Assay results are pending.” said Weyrauch.

Highlights

  • Drilling continues to
    demonstrate continuity of near surface open pit grades and widths at
    Kaukua South.
  • Core zone of 11.6 meters grading 4.21 g/t
    Palladium equivalent     (“Pd_Eq”) within 47.4 meters grading 2.59 g/t
    Pd_Eq.     in hole LK21-045, starting 123 meters down hole.
  • Core zone of 16.5 meters grading 2.52 g/t
    Pd_Eq,     within 52.7
    meters grading 1.53 g/t Pd_Eq     in hole LK21-046, starting 66 meters down hole.
  • 2,000 meters of drilling completed on the Haukiaho Zone to upgrade the historic resource to National Instrument 43-101 standards.

Kaukua South Infill Drilling

Kaukua South infill drilling continues to demonstrate consistent near surface open pit grades and widths. A total of 22 holes from the Phase II infill drill program on Kaukua South have now been released with intersections such as 53 meters at
2.1 g/t Pd_Eq, in hole LK20-028 (see press release January 18, 2021) and 33 metres grading
2.0 g/t Pd_Eq in hole LK20-034 (see news release March 11, 2021). These 22 holes cover approximately 1.3 kilometers of the Kaukua

IP Survey Underway

Induced Polarization (“IP”) surveys have proven to be highly successful at outlining palladium-rich disseminated copper-nickel sulphide mineralization on the LK Project. The discovery of Kaukua South in an overburden covered area with no previous drilling was a direct result of the Company’s 2020 IP survey.

The current IP survey is well advanced, with the western grid anticipated to be completed within the next week. The Company believes there is potential to extend the currently Kaukua South IP chargeability anomaly from the currently defined four to over seven kilometres of strike length (Figure 1).

Figure 1. Greater Kaukua area plan map, showing current NI 43-101 Kaukua Deposit conceptual pit outline (dashed yellow), Kaukua South and Murtolampi IP chargeability anomalies, and Palladium One drill hole locations. Holes labels in red form part of this release.

Figure 2. Kaukua South long-section looking north, holes labelled in red form part of this release

Figure 3. Cross Section showing Kaukua South infill holes LK20-027, 028, 045, looking west.

Haukiaho Drill Program

The Haukiaho Zone is located 15 kilometers to the South of Kaukua. In late February and early March 2021, the Company completed 2,000 meters (12 holes) of infill drilling to enable the historic Haukiaho resource to be upgraded to NI43-101 compliant standards. The Haukiaho Zone which hosts the historic Haukiaho deposit, is part of a 17-kilometre-long trend (Figure 4.), and prior to the discovery of the Kaukua South Zone had a top priority for the Company and it remains a significant asset of the greater LK project.

In March 2020, before being forced to shut down due to the first wave of the Covid-19 pandemic, the Company completed 3 holes on the Haukiaho Zone returning a core zone of 34.2
metres grading 2.09 g/t Pd_Eq. within 83.3 metres grading 1.27 g/t Pd_Eq. in hole LK20-010 (see news release September 15, 2020).

In February 2020, the Company completed an IP survey covering five-kilometres of the Haukiaho Trend (see news release May 7, 2020). This survey identified three strong chargeability anomalies, one of which is associated with the core of the historic Haukiaho deposit, however the other two are in areas of sparse historic drilling. The eastern most of these three anomalies was prospected
by the Company in 2019, returning up to 3.3 g/t Pd_Eq. (0.51% Cu, 0.33% Ni, 0.56 g/t Pd, 0.18 g/t Pt, and 0.21 g/t Au), (see news release August 12, 2019).

Historic Haukiaho Resource Estimates
In 2013, Finore Mining Inc. completed a non-pit constrained NI43-101 historic resource with a 0.1 g/t Pd cut-off at Haukiaho comprising 23.2 million tonnes grading 1.51 g/t Pd_Eq (0.31 g/t Pd, 0.12g/t Pt, 0.10 g/t Au, 0.21% Cu, and 0.14% Ni) (See news release August 12, 2019 and May 7, 2020). This resource encompassed widely spaced drilling with a focus on maximizing tonnage, not grade. An earlier historic resource estimate completed by Outokumpu in the 1980’s covered a much larger part of the Haukiaho trend and was focused more on grade and used a 0.7% Cu_eq cut-off (defined as Cu% + 2 x Ni%) and returned 7 million tonnes grading 0.38% Cu and 0.24% Ni, however importantly, no PGE assays were conducted.

Figure 4. LK Project location map showing 43-101 compliant Kaukua deposit and historic Haukiaho resource along with 2020 IP grids (blue lines) and current 2021 IP grid areas (black boxes). Yellow lines represent Exploration Permits, red lines represent Exploration Reservations held by the Company.

Figure 5. Haukiaho IP chargeability and 2020 DDH location map

Table 1: Phase II infill drill results to date on Kaukua South

Zone

Hole

From
(m)

To
(m)

Width
(m)

Pd_Eq
g/t*

PGE g/t
(Pd+Pt+Au)

Pd
g/t

Pt
g/t

Au
g/t

Cu
%

Ni
%

Kaukua
South

LK20-027

103.4

155.0

51.6

1.98

1.07

0.72

0.27

0.08

0.17

0.15

Inc.

105.6

113.0

7.4

2.58

1.34

0.90

0.31

0.13

0.26

0.18

And

149.5

155.0

5.5

3.12

1.96

1.34

0.52

0.10

0.27

0.17

Inc.

153.5

155.0

1.5

6.14

4.09

2.79

1.15

0.15

0.56

0.28

Kaukua
South

LK20-028

42.6

95.5

52.9

2.06

1.44

1.00

0.36

0.08

0.11

0.11

Inc.

46.9

72.0

25.1

2.92

2.08

1.44

0.52

0.12

0.17

0.14

Inc.

50.5

60.0

9.5

3.56

2.52

1.75

0.61

0.16

0.23

0.16

Kaukua
South

LK20-029

37.5

62.9

25.4

2.57

1.87

1.30

0.46

0.11

0.15

0.11

Inc.

47.0

62.0

15.0

3.16

2.36

1.65

0.58

0.13

0.17

0.13

Inc.

56.5

62.0

5.5

4.34

3.36

2.36

0.82

0.18

0.20

0.16

Inc

56.5

57.7

1.2

6.15

4.97

3.54

1.26

0.17

0.25

0.21

Kaukua
South

LK20-030

26.4

86.5

60.1

1.88

1.00

0.68

0.24

0.07

0.17

0.14

Inc.

47.0

68.0

21.0

2.44

1.43

0.98

0.35

0.10

0.21

0.16

Inc.

53.0

54.5

1.5

3.94

2.69

1.78

0.78

0.12

0.28

0.20

Kaukua
South

LK20-031

17.9

61.5

43.6

1.94

1.12

0.76

0.27

0.09

0.16

0.13

Inc.

17.9

55.5

37.6

2.17

1.25

0.85

0.30

0.10

0.19

0.14

Inc.

24.5

35.0

10.5

2.81

1.60

1.09

0.39

0.11

0.27

0.18

Kaukua
South

LK20-032

60.3

108.3

48.0

1.81

0.84

0.57

0.21

0.06

0.16

0.16

Inc.

61.4

75.0

13.7

2.12

0.90

0.58

0.23

0.09

0.22

0.20

Kaukua
South

LK20-033

41.3

85.0

43.7

1.76

0.87

0.58

0.21

0.07

0.18

0.14

Inc.

42.7

56.3

13.7

2.33

1.21

0.83

0.28

0.10

0.21

0.18

Kaukua
South

LK20-034

86.9

119.5

32.7

2.05

1.16

0.81

0.26

0.09

0.16

0.15

Inc.

88.5

112.5

24.0

2.26

1.32

0.93

0.29

0.10

0.17

0.15

Inc.

88.5

97.5

9.0

3.06

1.98

1.41

0.45

0.12

0.20

0.17

Inc.

94.5

96.0

1.5

4.20

2.94

2.15

0.66

0.14

0.25

0.20

Kaukua
South

LK20-035

66.0

118.0

52.0

1.32

0.63

0.44

0.15

0.04

0.11

0.11

Inc

67.5

69.0

1.5

3.49

2.44

2.10

0.27

0.07

0.23

0.15

And

95.5

104.7

9.2

2.04

1.23

0.80

0.32

0.11

0.17

0.13

Kaukua
South

LK20-036

245.3

280.0

34.6

1.05

0.39

0.25

0.11

0.03

0.10

0.11

Inc.

259.0

260.5

1.5

1.72

0.86

0.62

0.16

0.07

0.15

0.14

Kaukua
South

LK20-042

115.5

158.9

43.4

1.41

0.77

0.53

0.19

0.05

0.09

0.12

Inc.

118.5

123.0

4.5

2.29

1.23

0.82

0.32

0.09

0.14

0.19

Kaukua
South

LK20-043

131.5

162.3

30.8

1.24

0.55

0.36

0.15

0.04

0.11

0.12

Inc.

133.0

136.0

3.0

2.05

1.16

0.82

0.32

0.02

0.05

0.20

Kaukua
South

LK20-044

156.8

173.8

17.0

1.38

0.62

0.41

0.14

0.06

0.14

0.12

Inc.

166.0

169.5

3.4

2.10

1.07

0.73

0.25

0.08

0.20

0.16

Kaukua South

LK20-045

122.8

170.2

47.4

2.59

1.74

1.20

0.42

0.11

0.17

0.14

Inc.

152.0

170.2

18.2

3.64

2.55

1.77

0.62

0.15

0.23

0.17

Inc.

155.0

166.6

11.6

4.21

2.92

2.03

0.72

0.18

0.27

0.20

Inc.

156.0

160.6

4.6

5.09

3.67

2.57

0.89

0.21

0.33

0.21

Inc.

156.0

157.5

1.5

7.18

5.18

3.67

1.23

0.28

0.44

0.31

Kaukua South

LK20-046

65.9

118.6

52.7

1.53

1.05

0.73

0.26

0.06

0.09

0.08

Inc.

73.0

89.5

16.5

2.52

1.79

1.23

0.44

0.12

0.13

0.13

Inc.

73.0

79.0

6.0

3.31

2.42

1.69

0.60

0.12

0.18

0.15

Kaukua South

LK20-047

36.0

58.0

22.0

1.77

1.11

0.75

0.29

0.07

0.12

0.11

Inc.

40.5

43.5

3.0

3.15

1.85

1.23

0.49

0.13

0.27

0.20

And

53.5

56.0

2.5

2.89

2.25

1.61

0.54

0.09

0.12

0.11

Kaukua South

LK20-048

80.0

93.0

13.0

1.08

0.55

0.35

0.15

0.05

0.09

0.09

Inc.

89.0

91.3

2.3

1.91

1.13

0.73

0.31

0.09

0.18

0.12

Kaukua South

LK20-049

16.2

27.0

10.8

1.18

0.52

0.33

0.13

0.06

0.13

0.10

Inc.

23.5

27.0

3.5

1.53

0.87

0.57

0.21

0.09

0.16

0.09

Kaukua Recon

LK20-050

no significant values

Kaukua South

LK21-051

118.8

145.0

26.2

1.46

0.55

0.36

0.13

0.06

0.16

0.15

Inc.

133.2

145.0

11.8

1.87

0.77

0.49

0.18

0.10

0.21

0.17

Kaukua South

LK21-052

53.0

62.7

9.7

1.04

0.36

0.22

0.10

0.04

0.09

0.12

Inc.

54.5

57.0

2.5

1.75

0.75

0.48

0.22

0.06

0.12

0.19

Zone

147.5

172.0

24.5

1.67

0.79

0.55

0.17

0.07

0.18

0.13

Inc.

147.5

152.0

4.5

2.17

0.91

0.65

0.20

0.06

0.38

0.14

Inc.

147.5

148.0

0.5

6.44

1.03

0.79

0.20

0.05

2.45

0.24

And

164.0

165.5

1.5

3.35

2.31

1.70

0.49

0.12

0.21

0.16

Kaukua South

LK21-053

60.0

63.0

3.0

1.20

0.51

0.33

0.13

0.06

0.11

0.11

Zone

93.9

101.4

7.5

0.77

0.25

0.15

0.07

0.03

0.05

0.10

* Reported widths are “drilled widths” not true widths.
** Orange shaded values previously released (see press release January 18, 2021 and March 11, 2021)

*Palladium Equivalent
Palladium equivalent is calculated using US$1,100 per ounce for palladium, US$950 per ounce for platinum, US$1,300 per ounce for gold, US$6,614 per tonne for copper, and US$15,4332 per tonne for nickel. This calculation is consistent with the calculation in the Company’s September 2019 NI 43-101 Kaukua resource estimate.

QA/QC
The Phase I drilling program was carried out under the supervision of Neil Pettigrew, M.Sc., P. Geo., Vice President of Exploration and a director of the Company.

Drill core samples were split using a rock saw by Company staff, with half retained in the core box and stored indoors in a secure facility, in Taivalkoski, Finland. The drill core samples were transported by courier from the Company’s core handling facility in Taivalkoski, Finland, to ALS Global (“ALS”) laboratory in Outokumpu, Finland. ALS, is an accredited lab and are ISO compliant (ISO 9001:2008, ISO/IEC 17025:2005). PGE analysis was performed using a 30 grams fire assay with an ICP-MS or ICP-AES finish. Multi-element analyses, including copper and nickel were analysed by four acid digestion using 0.25 grams with an ICP-AES finish.

Certified standards, blanks and crushed duplicates are placed in the sample stream at a rate of one QA/QC sample per 10 core samples. Results are analyzed for acceptance at the time of import. All standards associated with the results in this press release were determined to be acceptable within the defined limits of the standard used

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)-copper nickel deposits in Finland and Canada. Its flagship project is the Läntinen Koillismaa or LK Project, a palladium dominant 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
includes “forward-looking information” that is subject to a few
assumptions, risks and uncertainties, many of which are beyond the control of
the Company. Statements regarding listing of the Company’s common shares on the
TSXV are subject to all of the risks and uncertainties normally incident to
such events. Investors are cautioned that any such statements are not
guarantees of future events and that actual events or developments may differ
materially from those projected in the forward-looking statements. Such
forward-looking statements represent management’s best judgment based on
information currently available. Factors that could cause the actual results to
differ materially from those in forward-looking statements include regulatory
actions and general business conditions. Such forward-looking information
reflects the Company’s views with respect to future events and is subject to
risks, uncertainties and assumptions, including those set out in the Company’s
annual information form dated April 29, 2020 and filed under the Company’s
profile on SEDAR at www.sedar.com.
The Company does not undertake to update forward-looking statements or
forward-looking information, except as required by law. Investors are cautioned
that any such statements are not guarantees of future performance and actual
results or developments may differ materially from those projected in the
forward-looking statements.

SOURCE: Palladium One Mining

Release – Ocugen (OCGN) – Provides Business Update and Full Year 2020 Financial Results

Posted on by Admin


Ocugen Provides Business Update and Full Year 2020 Financial Results

 

Conference Call and Webcast Today at 8:30 a.m. ET

  • COVID-19 vaccine candidate, COVAXIN™, demonstrates efficacy of 81% in Phase 3 interim results
  • Emergency Use Authorization pathway with U.S. regulatory authorities in development for COVAXIN™
  • European Commission grants orphan medicinal product designation for OCU400 for retinitis pigmentosa and leber congenital amaurosis and Ocugen is on track to submit an Investigational New Drug application for OCU400 in 2021
  • On track to initiate four Phase 1/2 clinical trials encompassing Ocugen’s ophthalmology pipeline in 2021 and 2022

MALVERN, Pa., March 18, 2021 (GLOBE NEWSWIRE) — Ocugen, Inc. (“Ocugen”) (NASDAQ: OCGN), a biopharmaceutical company focused on discovering, developing, and commercializing gene therapies to cure blindness diseases and developing a vaccine to save lives from COVID-19, today reported full year 2020 financial results along with a general business update.

“We made strong progress toward our goal of offering a differentiated vaccine to save lives from COVID-19 and in our work toward curing blindness diseases. We are actively working with U.S. regulatory authorities to develop a plan around Emergency Use Authorization in the United States for COVAXIN™ and are preparing to file an Investigational New Drug application to initiate our first two clinical trials for OCU400 in the second half of this year. Proceeds from our recent registered direct offering provide the financial resources to drive our COVAXIN™ development efforts and ophthalmology pipeline forward,” said Dr. Shankar Musunuri, Chairman, Chief Executive Officer, and Co-Founder of Ocugen.

Business Highlights:

  • Execution of Co-Development Agreement for COVAXIN™ in the U.S. Market – On February 2, 2021, Ocugen entered into a Co-Development, Supply and Commercialization Agreement with Bharat Biotech International Limited (“Bharat Biotech”) for the development and commercialization of COVAXIN™ in the U.S. market. Upon receipt of Emergency Use Authorization (“EUA”), Bharat Biotech will supply a specified minimum number of doses of COVAXIN™ and then support the technology transfer for manufacturing for the U.S. market. Ocugen will share the profits from the sale of COVAXIN™ in the U.S. market with Bharat Biotech, with Ocugen retaining 45% of the profits.
  • Steady Progress to Develop EUA Pathway in the United States for COVAXIN™ Supported by U.S. Leading Experts in Vaccines – Key members of Ocugen’s management team and key advisors possess proven expertise and a track record of success in vaccine development and commercialization. Ocugen has established a vaccine scientific advisory board composed of leading academic and industry experts with extensive experience in the vaccine field. Collectively, the team is working with U.S. regulatory authorities to develop the regulatory pathway to EUA in the U.S. market.
  • COVAXIN™ Demonstrates Efficacy of 81% in Phase 3 Interim Results – Interim results from Bharat Biotech’s Phase 3 trial in India showed that COVAXIN™ was well tolerated and demonstrated 81% efficacy in preventing COVID-19 in those without prior infection after the second dose. In addition, COVAXIN™ has been shown to induce immune responses against multiple protein antigens of the virus potentially reducing the possibility of mutant virus escape. This breadth of immune responses has been demonstrated by the ability of antibodies induced by COVAXIN™ to neutralize the U.K. variant of SARS-CoV-2. This broad-antigen containing vaccine has the potential to be effective against new emerging variants.
  • First Gene Therapy Candidate OCU400 On Track to Enter the Clinic in 2H21 – Based on Ocugen’s modifier gene therapy platform, Ocugen’s product candidate OCU400 represents a novel approach in that it has the potential to address multiple retinal diseases with one product. Ocugen is planning to file an Investigational New Drug application to initiate two Phase 1/2 clinical trials of OCU400 later this year for the treatment of two disease genotypes.
  • European Commission (“EC”) Grants Orphan Medicinal Product Designation for OCU400 for Retinitis Pigmentosa (“RP”) and Leber Congenital Amaurosis (“LCA”) – Designation by the EC further supports the potential broad spectrum application of OCU400 to treat many IRDs. IRDs associated with RP and LCA diseases are caused by mutations in over 175 genes, and it is impractical to develop therapies that are specific to each gene.
  • Capital Raised – Ocugen’s cash, cash equivalents, and restricted cash totaled approximately $46.6 million as of February 28, 2021. Subsequent to December 31, 2020, Ocugen generated net proceeds of $4.8 million under an at-the-market offering and net proceeds of $21.2 million under a registered direct offering.

Full Year 2020 Financial Results:

  • Ocugen’s cash, cash equivalents, and restricted cash totaled $24.2 million as of December 31, 2020, compared to $7.6 million as of December 31, 2019. The Company had 184.0 million shares of common stock outstanding as of December 31, 2020.
  • Research and development expenses for the year ended December 31, 2020 were $6.4 million compared to $8.1 million for the year ended December 31, 2019. General and administrative expenses for the year ended December 31, 2020 were $8.0 million compared to $6.1 million for the year ended December 31, 2019. Ocugen reported a $0.31 net loss per share for the year ended December 31, 2020 compared to a $1.46 net loss per share for the year ended December 31, 2019.

Conference Call and Webcast Details

Ocugen has scheduled a conference call and webcast for 8:30 a.m. eastern time today to discuss the financial results and recent business highlights. Ocugen’s senior management team will host the call, which will be open to all listeners. There will also be a question and answer session following the prepared remarks.

The call can be accessed by dialing (844) 873-7330 (U.S.) or (602) 563-8473 (international) and providing the conference ID 2375087. To access a live audio webcast of the call on the “Investors” section of the Ocugen website, please click here. A replay of the webcast will be archived on Ocugen’s website for approximately 45 days following the call.

About Ocugen, Inc.
Ocugen, Inc. is a biopharmaceutical company focused on discovering, developing, and commercializing gene therapies to cure blindness diseases and developing a vaccine to save lives from COVID-19. Our breakthrough modifier gene therapy platform has the potential to treat multiple retinal diseases with one drug – “one to many” and our novel biologic product candidate aims to offer better therapy to patients with underserved diseases such as wet age-related macular degeneration, diabetic macular edema, and diabetic retinopathy. We are co-developing Bharat Biotech’s COVAXIN™ vaccine candidate for COVID-19 in the U.S. market. For more information, please visit www.ocugen.com.

Cautionary Note on Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties. We may, in some cases, use terms such as “predicts,” “believes,” “potential,” “proposed,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such forward-looking statements include information about qualitative assessments of available data, potential benefits, expectations for clinical trials, and anticipated timing of clinical trial readouts and regulatory submissions. This information involves risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Risks and uncertainties include, among other things, the uncertainties inherent in research and development, including the ability to meet anticipated clinical endpoints, commencement and/or completion dates for clinical trials, regulatory submission dates, regulatory approval dates and/or launch dates, as well as risks associated with preliminary and interim data (including the Phase 3 interim data related to COVAXIN™), including the possibility of unfavorable new clinical trial data and further analyses of existing clinical trial data; the risk that clinical trial data are subject to differing interpretations and assessments, including during the peer review/publication process, in the scientific community generally, and by regulatory authorities; whether and when data from Bharat Biotech’s clinical trials will be published in scientific journal publications and, if so, when and with what modifications; whether the U.S. Food and Drug Administration (“FDA”) will be satisfied with the design of and results from preclinical and clinical studies of COVAXIN™, which have been conducted by Bharat Biotech in India; whether and when any biologics license and/or EUA applications may be filed in the United States for COVAXIN™; whether and when any such applications may be approved by the FDA; decisions by the FDA impacting labeling, manufacturing processes, safety and/or other matters that could affect the availability or commercial potential of COVAXIN™ in the United States, including development of products or therapies by other companies. These and other risks and uncertainties are more fully described in our periodic filings with the Securities and Exchange Commission (“SEC”), including the risk factors described in the section entitled “Risk Factors” in the quarterly and annual reports that we file with the SEC. Any forward-looking statements that we make in this press release speak only as of the date of this press release. Except as required by law, we assume no obligation to update forward-looking statements contained in this press release whether as a result of new information, future events or otherwise, after the date of this press release.

This press release contains a preliminary estimate of Ocugen’s cash, cash equivalents, and restricted cash as of February 28, 2021. The preliminary estimate should not be viewed as a substitute for interim financial statements prepared in accordance with U.S. generally accepted accounting principles. The preliminary estimate is based on preliminary unaudited information and management estimates as of February 28, 2021, is not a comprehensive statement of Ocugen’s financial results, and is subject to the completion of Ocugen’s financial closing procedures. As a result, this preliminary estimate may differ from the actual results that will be reflected in Ocugen’s financial statements when they are completed and publicly disclosed. Additional information and disclosures would be required for a more complete understanding of Ocugen’s financial position as of February 28, 2021. Ocugen’s independent registered public accounting firm has not conducted an audit or review of, and does not express an opinion or any other form of assurance with respect to, the preliminary estimate.

Corporate Contact:
Ocugen, Inc.
Sanjay Subramanian
Chief Financial Officer and Head of Corporate Development
IR@Ocugen.com

Media Contact:
LaVoieHealthScience
Lisa DeScenza
ldescenza@lavoiehealthscience.com
+1 978-395-5970

(tables to follow)

OCUGEN, INC.
CONSOLIDATED BALANCE SHEETS
(UNAUDITED)

  December 31,
2020		   December 31,
2019
Assets      
Current assets      
Cash and cash equivalents $ 24,039,325     $ 7,444,052  
Prepaid expenses and other current assets 1,838,357     1,322,167  
Asset held for sale —     7,000,000  
Total current assets 25,877,682     15,766,219  
Property and equipment, net 632,967     222,464  
Restricted cash 151,226     151,016  
Other assets 714,477     667,747  
Total assets $ 27,376,352     $ 16,807,446  
Liabilities and stockholders’ equity      
Current liabilities      
Accounts payable $ 395,034     $ 1,895,613  
Accrued expenses 2,930,395     2,270,045  
Short-term debt, net 234,119     —  
Operating lease obligation 44,248     172,310  
Other current liabilities 9,755     205,991  
Total current liabilities 3,613,551     4,543,959  
Non-current liabilities      
Operating lease obligation, less current portion 389,317     163,198  
Long term debt, net 1,823,043     1,072,123  
Other non-current liabilities —     9,755  
Total liabilities 5,825,911     5,789,035  
Stockholders’ equity      
Common stock 1,841,334     527,467  
Treasury Stock (47,864 )   (47,864 )
Additional paid-in capital 93,058,748     62,018,632  
Accumulated deficit (73,301,777 )   (51,479,824 )
Total stockholders’ equity 21,550,441     11,018,411  
Total liabilities and stockholders’ equity $ 27,376,352     $ 16,807,446  
               


OCUGEN, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)

  Year ended December 31,
  2020   2019
Revenues      
Collaboration revenue $ 42,620     $ —  
Total revenues 42,620     —  
Operating expenses      
Research and development 6,353,287     8,085,522  
In-process research and development 7,000,000     —  
General and administrative 7,974,050     6,077,097  
Total operating expenses 21,327,337     14,162,619  
Loss from operations (21,284,717 )   (14,162,619 )
Other income (expense)      
Change in fair value of derivative liabilities —     (3,187,380 )
Loss on debt conversion —     (341,136 )
Interest income 1,065     1,214  
Interest expense (720,963 )   (1,767,836 )
Other income (expense) 182,662     (784,873 )
Total other income (expense) (537,236 )   (6,080,011 )
Net loss $ (21,821,953 )   $ (20,242,630 )
Deemed dividend related to Warrant Exchange (12,546,340 )   —  
Net loss to common stockholders $ (34,368,293 )   $ (20,242,630 )
       
Shares used in calculating net loss per common share — basic and diluted 112,236,110     13,893,819  
Net loss per share of common stock — basic and diluted $ (0.31 )   $ (1.46 )
               

SOURCE: Ocugen

Endeavour Silver (EXK)(EDR:CA) – Sale of El Cubo Mine Expected to Close by Month-End

Posted on by Admin

Thursday, March 18, 2021

Endeavour Silver (EXK)(EDR:CA)
Sale of El Cubo Mine Expected to Close by Month-End

As of April 24, 2020, Noble Capital Markets research on Endeavour Silver is published under ticker symbols (EXK and EDR:CA). The price target is in USD and based on ticker symbol EXK. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target.

Endeavour Silver Corp is a precious metal mining company. The company is primarily engaged in silver mining and owns three high-grade, underground, silver-gold mines in Mexico. Its other business activities include acquisition, exploration, development, extraction, processing, refining and reclamation. The company is organized into four operating mining segments, Guanacevi, Bolanitos, El Cubo, and El Compas, which are located in Mexico as well as Exploration and Corporate segments. Its Exploration segment consists of projects in the exploration and evaluation phases in Mexico and Chile.

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.

    Definitive agreement to sell the El Cubo mine. Recall that in December 2020, Endeavour Silver announced a binding letter agreement to sell its El Cubo mine to VanGold Mining Corp. (OTC, VGLDF, Not Rated) for US$15 million in cash and share payments plus up to an additional US$3.0 million in contingent payments. Endeavour announced the signing of a definitive agreement for which the terms are unchanged. While the transaction was originally expected to close on or before March 17, 2021, management expects the transaction to close by month-end.

    Inclusion in stock indices.  Endeavour Silver common shares will be added to the S&P/TSX Composite and the NYSE Arca Gold Miners (GDX ETF) Indices after the market close on March 19, 2021. Inclusion in the indices should enhance the equity’s visibility among institutional investors whose funds are aligned with or benchmarked against these indices …



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 – Golden Predator Mining (NTGSF)(GPY:CA) – Metal Investors Forum & Backstage Interview

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Golden Predator Mining Corp and Viva Gold Corp: Metal Investors Forum & Backstage Interview

 

On March 5th, 2021 Golden Predator Mining Corp.’s Chief Executive Officer, Janet Lee-Sheriff, and Viva Gold Corp’s Chief Executive Officer, James Hesketh, presented an update on the Agreement between Golden Predator and Viva Gold to merge development stage assets in Nevada and Yukon. In the event you missed the live version we have provided the link to the presentation:

Golden Predator Mining: Metal Investors Forum Presentation: https://youtu.be/DDHh-UYvNyo

Greg McCoach also talks to Janet Lee-Sheriff and James Hesketh on the business combination and the assets in Golden Predator in the below interview: https://youtu.be/2YiVWPTTZfc

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.

About Viva Gold Corp.

Viva Gold is a gold exploration and project development company with a focus on Nevada. Viva Gold holds 100% of the advanced Tonopah Gold Project, a large land position of approximately 8,800 acres with demonstrated high-grade measured, indicated and inferred gold resources, located on the prolific Walker Lane gold trend in Nevada. Viva’s management team has extensive experience in mining exploration, development and production and is supported by a Board of Directors and advisors who are proven mine finders, deal makers and financiers.  

For additional information:

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

James Hesketh
Viva Gold Corp.
Chief Executive Officer
720-291-1775

jhesketh@vivagold.com
www.vivagold.com

Source: Golden Predator Mining

Euroseas Ltd. (ESEA) – Higher Rate Charters Boost 2021 EBITDA and Price Target

Posted on by Admin

Thursday, March 18, 2021

Euroseas Ltd. (ESEA)
Higher Rate Charters Boost 2021 EBITDA and Price Target

Euroseas Ltd. provides ocean-going transportation services worldwide. The company owns and operates containerships that transport dry and refrigerated containerized cargoes, including manufactured products and perishables; and drybulk carriers that transport iron ore, coal, grains, bauxite, phosphate, and fertilizers. As of March 31, 2017, it had a fleet of seven containerships; and six drybulk carriers, including three Panamax drybulk carriers, one Handymax drybulk carrier, one Kamsarmax drybulk carrier, and one Ultramax drybulk carrier. The company was founded in 2005 and is based in Maroussi, Greece.

Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.

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

    Two new charters at higher-than-expected rates announced. The charter on the EM Kea, a 2007-built 3,091 TEU vessel, was extended for 25-28 months at a rate of $22.0k/day, or well above the current rate of $8.1k/day. The Synergy Busan, a 2009-built 4,253 TEU vessel, entered into a new 36-40 month time charter contract at a rate of $25.0k/day, or well above the current rate of $12.0k/day.

    Net impact in the $3.5 million range.  We are increasing 2021 EBITDA estimate. Our new 2021 EBITDA is $31.1 million based on TCE rates of $14.8k/day, up from $27.6 million based on TCE rates of $14.1k/day …



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. 

Gevo, Inc. (GEVO) – Looking Beyond Losses to Brighter Future

Posted on by Admin

Thursday, March 18, 2021

Gevo, Inc. (GEVO)
Looking Beyond Losses to Brighter Future

Gevo Inc is a renewable chemicals and biofuels company engaged in the development and commercialization of alternatives to petroleum-based products based on isobutanol produced from renewable feedstocks. Its operating segments are the Gevo segment and the Gevo Development/Agri-Energy segment. By its segments, it is involved in research and development activities related to the future production of isobutanol, including the development of its biocatalysts, the production and sale of biojet fuel, its Retrofit process and the next generation of chemicals and biofuels that will be based on its isobutanol technology. Gevo Development/Agri-Energy is the key revenue generating segment which involves the operation of the Luverne Facility and production of ethanol, isobutanol and related products.

Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.

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

    As expected, 4Q2020/FY2020 operating losses continued. 4Q2020 revenue was minimal at $0.5 million and EBITDA was negative $5.1 million. FY2020 revenue was $5.5 million and EBITDA was negative $18.3 million. Recent capital raises increased cash to $531 million (on Feb 26th) and materially reduced funding risk.

    Tune in for today’s fireside chat on financing.  Water Tower Research will host another fireside chat with Gevo management on March 18th at 2:30pm EST. Gevo will be represented by CEO Dr. Patrick Gruber and CFO Lynn Smull. The main topic is slated to be project financing efforts. Details are posted at www.gevo.com …



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. 

InPlay Oil (IPOOF)(IPO:CA) – Strong Quarter. Stronger 2021 Outlook

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Thursday, March 18, 2021

InPlay Oil (IPOOF)(IPO:CA)
Strong Quarter. Stronger 2021 Outlook

As of April 24, 2020, Noble Capital Markets research on InPlay Oil is published under ticker symbols (IPOOF and IPO:CA). The price target is in USD and based on ticker symbol IPOOF. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target. InPlay Oil is a junior oil and gas exploration and production company with operations in Alberta focused on light oil production. The company operates long-lived, low-decline properties with drilling development and enhanced oil recovery potential as well as undeveloped lands with exploration possibilities. The common shares of InPlay trade on the Toronto Stock Exchange under the symbol IPO and the OTCQZ Exchange under the symbol IPOOF.

Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.

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

    InPlay reported strong 2020-4Q results. Results were generally favorable. Average production of 4,259 boe/d surpassed our 4,200 est. Pricing was in line with expectations that had been raised just last week. Operating costs of $14.35/boe was near our $14.00 estimate. Adjusted fund flow and EPS were slightly below recently raised expectations. Most importantly, total proved reserves grew 16% in 2020 on the heels of upward price revisions. The growth was higher than expected and what we believe will be a rarity for junior exploration companies.

    The outlook for 2021 is very favorable.  Energy prices are high, drilling is accelerating (3 wells completed in the 4Q), production rates are approaching pre-Covid levels, and production costs are low. Management raised their 2021 AFF to C$39-42 million from C$30.5-35.5 million leapfrogging our recently raised $35 million level. Finding costs of $9.85/boe are impressive and the company is poised to …



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. 

Travelzoo (TZOO) – The Skies Are Looking Friendlier, But

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Thursday, March 18, 2021

Travelzoo (TZOO)
The Skies Are Looking Friendlier, But

Travelzoo is a US-based company which acts as a publisher of travel and entertainment offers. The company informs a varied number of members in Asia Pacific, Europe, and North America, as well as millions of website users, about the best travel, entertainment and local deals available from various companies. It provides travel, entertainment, and local businesses in a flexible manner to the various customer. The company operates in three geographic segments namely Asia Pacific, Europe, and North America. Travelzoo derives its revenue through advertising fees including listing fees paid by travel, entertainment, and local businesses to advertise their offers on company’s media properties. Most of the company’s revenue is derived from the North America.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

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

    Soft Q4 results. Revenues of $12.5 million was lighter than our $14.6 million estimate as travel restrictions kept consumers from leisure international travel. In addition, the revenues were below management’s previous guide. Operating cash flow stayed positive, however, at $569,000, although it was lighter than our estimate of $1.4 million.

    Voucher sales remain strong.  Consumers appear to have a heightened interest to travel. Voucher sales for future travel remains strong. As a result, the company’s cash position substantially increased from $51.7 million at the end of Q3 to $64.2 million (including restricted cash) at the end of December, 2020 …



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. 

QuickChek – March 18, 2021

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Seanergy Maritime Holdings Corp. to Acquire Two Additional Capesize Vessels

Seanergy Maritime Holdings Corp. announced that it has entered into agreements with unaffiliated third parties to purchase two Capesize vessels.

Research, News & Market Data on Seanergy Maritime

Watch recent presentation from NobleCon17



Ocugen Provides Business Update and Full Year 2020 Financial Results

Ocugen, Inc. reports full year 2020 financial results along with a general business update.

Research, News & Market Data on Ocugen

Watch recent presentation from NobleCon17



PDS Biotech Reports Financial Results for the Year Ended December 31, 2020

PDS Biotechnology Corporation announced its financial results for the year ended December 31, 2020 and provided a business update.

Research, News & Market Data on PDS Biotechnology

Watch recent presentation from PDS Biotechnology



Palladium One Expands High-Grade at Kaukua South, Drills 47 Meters

Palladium One Mining Inc. announced that 34 holes have been drilled as part of the 17,500-meter Phase II Resource Definition drill program at Kaukua South.

Research, News & Market Data on Palladium One

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Release – PDS Biotechnology (PDSB) – Reports Financial Results for the Year Ended December 31 2020

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PDS Biotech Reports Financial Results for the Year Ended December 31, 2020 and Provides Business Update

 

FLORHAM PARK, N.J., March 18, 2021 (GLOBE NEWSWIRE) — PDS Biotechnology Corporation (Nasdaq: PDSB), a clinical-stage immunotherapy company developing novel cancer therapies and infectious disease vaccines based on the Company’s proprietary Versamune® T-cell activating technology, today announced its financial results for the year ended December 31, 2020 and provided a business update.

Recent Business Highlights:

  • Achieved preliminary efficacy benchmark in the Phase 2 combination trial of PDS0101 led by the National Cancer Institute.
  • Initiated VERSATILE-002, a Phase 2 trial of lead investigational drug candidate PDS0101, in combination with standard of care KEYTRUDA® for first-line treatment of patients with metastatic or recurrent HPV-positive head and neck cancer.
  • Phase 2 trial of lead investigational drug candidate PDS0101, in combination with standard of care chemoradiotherapy for patients with advanced cervical cancer was initiated by the University of Texas MD Anderson Cancer Center.
  • Expanded consortium for development of PDS0203, a novel, Versamune®-based second-generation COVID-19 vaccine to include Blanver Farmoquímica in addition to Farmacore.
  • Received award commitment of up to $60 million from Brazil’s Ministry of Science, Technology and Innovation (MCTI) to fund clinical development and commercialization of PDS0203.
  • Strengthened leadership team with the appointment of Seth Van Voorhees as Chief Financial Officer and addition of preeminent oncologist Otis Brawley, M.D. to the board of directors.

“Despite the challenges of 2020, the PDS Biotech team remained focused on the advancement of our Versamune®-based drug pipeline,” commented Dr. Frank Bedu-Addo, President and Chief Executive Officer of PDS Biotech. “Through that commitment and the strength of our partnerships with leading institutions in the fields of immuno-oncology and infectious disease, we made significant strides in solidifying the safety profile and establishing the efficacy of our Versamune® platform and products as we continue to progress our portfolio towards commercialization.”

Full Year 2020 Financial Results

For the year ended December 31, 2020, the net loss was approximately $14.8 million, or $0.89 per basic share and diluted share, compared to a net loss of approximately $7.0 million, or $1.44 per basic share and diluted share for the year ended December 31, 2019.

For the year ended December 31, 2020, research and development expenses increased to $7.9 million compared to $6.1 million during the prior year. The increase was primarily the result of increased expenses related to manufacturing and personnel costs for the ongoing clinical studies.

For the year ended December 31, 2020, general and administrative expenses decreased to $7.0 million compared to $11.0 million during 2019. The $4.0 million decrease was due to decreases in personnel costs of $0.4 million, non-cash stock-based compensation of $2.4 million, D&O insurance costs of $0.5 million, legal fees of $0.5 million and professional fees of $0.2 million.

Total operating expenses for 2020 were $14.9 million, a decrease of approximately 29% compared to $21.0 million during the prior year.

The company’s cash balance as of December 31, 2020 was $28.8 million.

Conference Call and Webcast

The conference call is scheduled to begin at 8:00 am ET on Thursday, March 18, 2021. Participants should dial 877-407-3088 (United States) or 201-389-0927 (International) and mention PDS Biotech. Participants can also access the conference call via webcast on the investor relations page of the Company’s corporate website (link).

The event will be archived in the investor relations section of PDS Biotech’s website for 6 months. In addition, a telephonic replay of the call will be available for 6 months. The replay can be accessed by dialing 877-660-6853 (United States) or 201-612-7415 (International) with confirmation code 13716518.

About PDS Biotechnology

PDS Biotech is a clinical-stage immunotherapy company with a growing pipeline of cancer immunotherapies and infectious disease vaccines based on the Company’s proprietary Versamune® T-cell activating technology platform. Versamune® effectively delivers disease-specific antigens for in
vivo uptake and processing, while also activating the critical type 1 interferon immunological pathway, resulting in production of potent disease-specific killer T-cells as well as neutralizing antibodies. PDS Biotech has engineered multiple therapies, based on combinations of Versamune® and disease-specific antigens, designed to train the immune system to better recognize disease cells and effectively attack and destroy them. To learn more, please visit www.pdsbiotech.com or follow us on Twitter at @PDSBiotech.

Forward Looking Statements

This communication contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended) concerning PDS Biotechnology Corporation (the “Company”) and other matters. These statements may discuss goals, intentions and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of the Company’s management, as well as assumptions made by, and information currently available to, management. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend,”  “forecast,” “guidance”, “outlook” and other similar expressions among others. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: the Company’s ability to protect its intellectual property rights; the Company’s anticipated capital requirements, including the Company’s anticipated cash runway and the Company’s current expectations regarding its plans for future equity financings; the Company’s dependence on additional financing to fund its operations and complete the development and commercialization of its product candidates, and the risks that raising such additional capital may restrict the Company’s operations or require the Company to relinquish rights to the Company’s technologies or product candidates; the Company’s limited operating history in the Company’s current line of business, which makes it difficult to evaluate the Company’s prospects, the Company’s business plan or the likelihood of the Company’s successful implementation of such business plan; the timing for the Company or its partners to initiate the planned clinical trials for PDS0101, PDS0203 and other Versamune® based products; the future success of such trials; the successful implementation of the Company’s research and development programs and collaborations, including any collaboration studies concerning PDS0101, PDS0203 and other Versamune®
based products and the Company’s interpretation of the results and findings of such programs and collaborations and whether such results are sufficient to support the future success of the Company’s product candidates; the acceptance by the market of the Company’s product candidates, if approved; the timing of and the Company’s ability to obtain and maintain U.S. Food and Drug Administration or other regulatory authority approval of, or other action with respect to, the Company’s product candidates; and other factors, including legislative, regulatory, political and economic developments not within the Company’s control, including unforeseen circumstances or other disruptions to normal business operations arising from or related to COVID-19. The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with statements that are included herein and elsewhere, including the risk factors included in the Company’s annual and periodic reports filed with the SEC. The forward-looking statements are made only as of the date of this press release and, except as required by applicable law, the Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

Media & Investor Relations Contact:

Deanne Randolph
PDS Biotechnology
Phone: +1 (908) 517-3613
Email: drandolph@pdsbiotech.com

Jacob Goldberger
CG Capital
Phone: +1 (404) 736-3841
Email: jacob@cg.capital

 

PDS BIOTECHNOLOGY CORPORATION AND SUBSIDIARIES
Condensed Consolidated
Balance Sheets

 

December 31,

2020

 

December 31,

2019

ASSETS

 

 

 

Current assets:

 

 

 

Cash and cash equivalents

$

28,839,565

 

 

$

12,161,739

 

Prepaid expenses and other

 

1,497,665

 

 

 

2,308,462

 

Total current assets

 

30,337,230

 

 

 

14,470,201

 

 

 

 

 

 

 

Property and equipment, net

 

5,443

 

 

 

21,051

 

Operating lease right-to-use asset

 

547,706

 

 

 

–

 

 

 

 

 

 

 

Total assets

$

30,890,379

 

 

$

14,491,252

 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

 

 

Current liabilities:

 

 

 

 

 

Accounts payable

$

1,415,224

 

 

$

1,197,720

 

Accrued expenses

 

1,735,322

 

 

 

1,097,640

 

Restructuring reserve

 

–

 

 

 

498,185

 

Operating lease obligation – short term

 

119,904

 

 

 

–

 

Total current liabilities

 

3,270,450

 

 

 

2,793,545

 

 

 

 

 

 

 

Noncurrent liability:

 

 

 

 

 

Operating lease obligation – long term

 

490,353

 

 

 

–

 

Total liabilities

$

3,760,803

 

 

$

2,793,545

 

 

 

 

 

 

 

 

 

 

 

 

 

STOCKHOLDERS’ EQUITY

 

 

 

 

 

Common stock, $0.00033 par value, 75,000,000 shares authorized at December 31, 2020 and
   December 31, 2019, 22,261,619 shares and 5,281,237 shares issued and outstanding at
   December 31, 2020 and December 31, 2019, respectively

 

7,346

 

 

 

1,742

 

Additional paid-in capital

 

70,907,315

 

 

 

40,633,670

 

Accumulated deficit

 

(43,785,085

)

 

 

(28,937,705

)

Total stockholders’ equity

 

27,129,576

 

 

 

11,697,707

 

 

 

 

 

 

 

Total liabilities and stockholders’ equity

$

30,890,379

 

 

$

14,491,252

 

 

PDS BIOTECHNOLOGY CORPORATION AND SUBSIDIARIES
Condensed Consolidated
Statements of Operations and Comprehensive Loss

 

Year Ended December 31,

 

2020

 

 

2019

 

Operating expenses:

 

 

 

Research and development expenses

$

7,924,450

 

 

$

6,099,580

 

General and administrative expenses

 

6,962,328

 

 

 

10,981,765

 

Impairment expense IPRD

 

–

 

 

 

2,974,000

 

Lease termination costs

 

–

 

 

 

979,273

 

Depreciation

 

15,608

 

 

 

–

 

 

 

 

 

 

 

Total operating expenses

 

14,902,386

 

 

 

21,034,618

 

 

 

 

 

 

 

Loss from operations

 

(14,902,386

)

 

 

(21,034,618

)

 

 

 

 

 

 

Other income (expense):

 

 

 

 

 

Gain on bargain purchase upon merger

 

–

 

 

 

13,334,568

 

Interest income

 

55,006

 

 

 

353,490

 

Interest expense

 

–

 

 

 

(33,559

)

 

 

 

 

 

 

Loss before income taxes

 

(14,847,380

)

 

 

(7,380,119

)

 

 

 

 

 

 

Income taxes (benefit)

 

–

 

 

 

(381,513

)

Net loss and comprehensive loss

$

(14,847,380

)

 

$

(6,998,606

)

 

 

 

 

 

 

Per share information:

 

 

 

 

 

Net loss per share, basic and diluted

$

(0.89

)

 

$

(1.44

)

 

 

 

 

 

 

Weighted average common shares outstanding basic and diluted

 

16,745,044

 

 

 

4,868,079

 

SOURCE: PDS Biotechnology