Month: April 2021

CoreCivic (CXW) – Announces Closing of $450 Million 8.25 Percent Senior Notes Due 2026

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CoreCivic Announces Upsizing and Pricing of $450 Million 8.25% Senior Notes Due 2026

 

BRENTWOOD, Tenn., April 15, 2021 (GLOBE NEWSWIRE) — CoreCivic, Inc. (NYSE: CXW) (the “Company”) closed its offering of $450,000,000 aggregate principal amount of 8.25% senior unsecured notes due 2026 (the “Notes”) on April 14, 2021. The Notes were priced at 99.0% of face value and have an effective yield to maturity of 8.50%. The aggregate net proceeds from the sale of the Notes are expected to be approximately $435.1 million, after deducting the original issuance and underwriting discounts and estimated offering expenses. CoreCivic is using a significant amount of the net proceeds from the offering of the Notes (i) to redeem all $250 million principal amount of its outstanding 5.00% senior notes due 2022 (the “2022 Senior Notes”), which have been called for redemption on May 14, 2021 by a redemption notice issued on April 14, 2021, including the payment of the applicable make-whole amount and accrued interest, and (ii) to otherwise repay or reduce its other indebtedness, which includes repurchasing approximately $128 million principal amount of the $350 million aggregate principal amount of 4.625% senior notes due 2023 (the “2023 Senior Notes”). Following the repurchases of the 2023 Senior Notes described in the preceding sentence, the outstanding principal balance of the 2023 Senior Notes will be approximately $222 million. CoreCivic may use any remaining proceeds for general corporate purposes.

Imperial Capital acted as left lead underwriter, StoneX Financial Inc. acted as joint bookrunner, and Wedbush Securities Inc. acted as co-manager for the offering.

The Notes were offered pursuant to CoreCivic’s effective shelf registration statement on Form S-3ASR, which became effective upon filing with the Securities and Exchange Commission on April 6, 2021. A prospectus supplement describing the terms of the offering has been filed with the Securities and Exchange Commission and is available at www.sec.gov. The offering may be made only by means of a prospectus supplement and the accompanying prospectus. Copies of the prospectus supplement and accompanying prospectus relating to this offering may be obtained at Imperial Capital, LLC, 10100 Santa Monica Boulevard, Suite 2400, Los Angeles, CA 90067, Attn: Prospectus Department, or by telephone at (310) 246-3700.

This press release is neither an offer to sell nor a solicitation of an offer to buy any securities, nor shall it constitute a notice of redemption under the indenture governing the 2022 Senior Notes or the indenture governing the 2023 Senior Notes, nor shall there be any offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.

This press release includes forward-looking statements regarding CoreCivic’s intended use of the remaining net proceeds from the issuance of the Notes. These forward-looking statements may be affected by risks and uncertainties in CoreCivic’s business and market conditions. This information is qualified in its entirety by cautionary statements and risk factor disclosures contained in CoreCivic’s Securities and Exchange Commission filings, including CoreCivic’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, filed with the Securities and Exchange Commission on February 22, 2021, as well as the risks identified in the prospectus supplement and the accompanying prospectus relating to the offering. CoreCivic wishes to caution readers that certain important factors may have affected and could in the future affect CoreCivic’s actual results and could cause CoreCivic’s actual results for subsequent periods to differ materially from those expressed in any forward-looking statement made by or on behalf of CoreCivic, including the risk that the offering of the Notes cannot be successfully completed. CoreCivic undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date hereof.

About CoreCivic

CoreCivic is a diversified government solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. CoreCivic provides a broad range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America’s recidivism crisis, and government real estate solutions. CoreCivic is the nation’s largest owner of partnership correctional, detention and residential reentry facilities, and believes it is the largest private owner of real estate used by government agencies in the U.S. CoreCivic has been a flexible and dependable partner for government for more than 35 years. CoreCivic’s employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good.

Contact: Investors: Cameron Hopewell – Managing Director, Investor Relations – (615) 263-3024
Media: Steve Owen – Vice President, Communications – (615) 263-3107

 

Group 11 Technologies – Signs Option Agreement with GFG to Advance the Rattlesnake Hills Gold Project

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Group 11 Technologies Signs Option Agreement with GFG to Advance the Rattlesnake Hills Gold Project with Revolutionary Technology

Environmentally Friendly Solutions and In Place Mining to Extract Precious Metals

April 14, 2021, Dallas, Texas: Group 11 Technologies Inc. (“Group 11”) is pleased to announce it has signed an option and earn-in agreement (the “Agreement”) with GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“GFG”) to advance GFG’s Rattlesnake Hills Gold Project (the “Project”) in Wyoming, United States. Under the terms of the Agreement, Group 11 has the right to acquire, in multiple stages, up to 70% of the Project by completing a series of exploration and development expenditures (“Expenditures”) as summarized below and making staged cash and equity payments to GFG.

Group 11 Technologies Inc. is led by a group of technical pioneers and experts in the development and application of in-situ recovery (“ISR”) with significant experience operating in Wyoming. Group 11’s goal is to combine ISR, a non-invasive extraction technology, with an environmentally friendly water-based chemistry to recover gold and other metals, providing an alternative development path to conventional open pit and underground mineral extraction.

The Rattlesnake Hills Gold Project is viewed as an ideal test project for Group 11 for the following reasons:

  • Wyoming is a top United States mining jurisdiction with regulators who understand and effectively legislate ISR better than anywhere else in the US;
  • Gold grades throughout the system vary from low to high allowing for testing various grades response to the ISR process;
  • Gold occurs in a variety of geological settings, allowing for testing of various styles of mineralization;
  • Gold occurs across a large physical area allowing for testing under various lithostatic conditions across and through several rock types and chemistries;
  • Gold occurs under relatively accessible topography, an important consideration for wellfield development.

Live Webcast – April 15, 2021

Management of GFG and Group 11 will host a webcast on Thursday, April 15 at 10:00 am Eastern Standard

Time (7:00 am Pacific Standard Time) to discuss the Agreement, Group 11’s innovative technology, the

upcoming programs and to answer any questions from shareholders. Shareholders, analysts, investors, and media are invited to join the live webcast by registering using the link below.

Link: https://6ix.com/event/gfg-and-group11/

After registering, you will receive a confirmation email containing details to access the webinar via conference call or webcast. A replay of the webcast will be available following the conclusion of the call.

“Group 11 is very excited to establish its first anchor project with GFG and the Rattlesnake Hills Gold Project. Rattlesnake hosts all the necessary parameters, in a well-established jurisdiction, to test and apply the combination of ISR technology and our exclusive use of EnviroLeach’s non-cyanide water based chemistry for ISR applications,” said Janet Lee-Sheriff, President of Group 11. “We already have successfully tested the EnviroLeach non-cyanide chemistry on sulfide concentrates and achieved optimal results in shorter timelines than cyanide. The recyclability of the environmentally-friendly chemistry makes it an attractive ingredient in ISR technology and an alternative to cyanide for gold recovery. Group 11 will commence first stage lab test work on drill core in the summer of 2021 and we look forward to advancing our work to develop new solutions for the mineral extraction industry.”

“We are excited to have entered into a partnership with Group 11 to advance our Rattlesnake Hills Gold Project and be part of a technology that could revolutionize the gold mining industry,” stated Brian Skanderbeg, President and CEO of GFG. “Our Project is the ideal asset to test and optimize Group 11’s technology given the character of the mineralized systems, significant zones of gold mineralization and the established permitting path for ISR mining in Wyoming. This is an exciting development for our shareholders and stakeholders as we work with our partners to develop and apply ISR technology to gold systems. Over the last several decades, this technology has been successfully applied in both uranium and copper mining, driving significantly reduced development timeframes, lower capital intensity and materially reduced environmental impacts. We believe in its potential to be equally applicable to the gold space.”

Terms of the Agreement

Under the terms of the Agreement, Group 11 has a right to earn 70% interest in the Project over a six- year period by:

  • Incurring a minimum of US$9.5 million in Expenditures.
  • Paying 100% of holding and maintenance costs related to the Project.
  • Covering all Expenditures to advance the Project into commercial production.
  • Making staged equity payments to GFG of Group 11 common stock of up to 9.9% of Group 11’s common shares issued and outstanding on a fully-diluted basis.
  • Making a cash payment of US$7.5 million.

Summary of Agreement Stages

 

 

(1) Minimum expenditures exclude holding and maintenance costs.

(2) Commercial production is deemed as a rate of not less than 50% of the feasibility study-rated annual capacity.

Additional terms:

  • Closing of the Agreement is conditional upon Group 11 raising a minimum of US$1.5 million within 45 days after the execution of the Agreement.
  • The Agreement contains pre-emptive rights provisions should either party elect to sell its interest in the Project.
  • Group 11 has the option to extend any stage for 12 additional months by making a US$500,000 cash payment to GFG.
  • Group 11 will act as manager on the Project.

The Rattlesnake Hills Gold Project

The Rattlesnake Hills Gold Project is a district-scale gold exploration project located in central Wyoming approximately 100 kilometres southwest of Casper. Geologically, the Project is centrally located within a roughly 1,500-kilometre-long belt of alkalic intrusive complexes that occur along the eastern side of the Rocky Mountains from Montana to New Mexico, several of which are associated with multiple gold deposits.

The Project has approximately 100,000 metres (“m”) of historic drilling which has outlined three significant zones of alteration and precious metal mineralization that are associated with Eocene age alkalic intrusions at North Stock, Antelope Basin and Blackjack. The majority of the drilling has focused on near-surface, open pit mineralization in the North Stock and Antelope Basin deposits with highlights that include intercepts(3) of 1.85 grams of gold per tonne (g/t Au) over 236.2 m hole length; 4.20 g/t Au over

77.7 m hole length; 2.08 g/t Au over 150.9 m hole length and 0.82 g/t Au over 99.1 m hole length. In addition  to  the  outlined  zones  of  mineralization,  the  Company  believes  that  the  district  is  highly

prospective and has outlined several kilometre-scale greenfield targets that have never been drill tested. These greenfield targets were generated from the Company’s geophysical and geochemical programs and host strong similarities to the North Stock and Antelope Basin systems.

(3) Gold intervals reported are based on a 0.20 g/t or 0.50 g/t Au cutoff. Weighted averaging has been used to calculate all reported intervals. True widths are estimated at 60-100% of drilled thicknesses.

Qualified Persons

Brian Skanderbeg, P.Geo. and M.Sc., serves as President and CEO of GFG, and is a “qualified person” within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Skanderbeg has reviewed the respective core intervals, sampling and QA/QC procedures and results thereof as verification of the historical drilling data disclosed above and has approved the information contained in this news release.

About GFG Resources Inc.

GFG Resources is a North American precious metals exploration company focused on district scale gold projects in tier one mining jurisdictions, Ontario and Wyoming. In Ontario, the Company owns 100% of the Pen and Dore gold projects, two large and highly prospective gold properties west of the prolific gold district of Timmins, Ontario, Canada. The Pen and the Dore gold projects have similar geological settings that host most of the gold deposits found in the Timmins Gold Camp which have produced over 70 million ounces of gold. The Company also owns 100% of the Rattlesnake Hills Gold Project, a district scale gold exploration project located approximately 100 kilometres southwest of Casper, Wyoming, U.S. The geologic setting, alteration and mineralization seen in the Rattlesnake Hills are similar to other gold deposits of the Rocky Mountain alkaline province which, collectively, have produced over 50 million ounces of gold.

About Group 11 Technologies Inc.

Group 11 is a private US-based company committed to the development and application of environmentally and socially responsible precious metals mineral extraction. The combination of in-situ recovery extraction (ISR) technology and environmentally friendly water based chemistry to recover gold and other metals provides a promising alternate solution to conventional open pit and underground mineral extraction. The goal of advancing sustainable extraction considers growing concerns surrounding water use and discharge, carbon footprint, energy consumption, community stakeholders and workplace safety while addressing a growing global need for metals in our daily lives. Group 11 was founded by Enviroleach Technologies Inc. (CSE: ETI; OTCQB: EVLLF), Encore Energy Corp. (TSXV: EU; OTCQB: ENCUF) and Golden Predator Mining Corp. (TSXV: GPY; OTCQB: NTGSF).

Group 11 is a group of elements in the periodic table, also known as the coinage metals, consisting of gold (Au), silver (Ag) and copper (Cu).

For additional information: Group 11 Technologies Inc.

Janet Sheriff, President

214-304-9552

info@gr11tech.com www.gr11tech.com

GFG Resources Inc.

Brian Skanderbeg, President & CEO or

Marc Lepage, Vice President, Business Development Phone: (306) 931-0930

info@gfgresources.com www.gfgresources.com

Cautionary Note Regarding Forward-Looking StatementsThis news release includes certain forward-looking statements within the meaning of applicable securities laws including transactions and other properties, and the potential advancement thereof. 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, or other similar expressions. Estimates of mineral resources and reserves are also forward looking statements because they constitute projections regarding the amount of minerals that may be encountered in the future. All statements, other than statements of historical fact, included herein including, without limitation; statements about the terms and completion of the transaction are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the 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. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the respective companies 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.

Gevo (GEVO) – RNG Project Achieves Financial Closing Construction expected to begin end of April 2021

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Gevo’s RNG Project Achieves Financial Closing Construction expected to begin end of April 2021

 

ENGLEWOOD,
Colorado – April 15, 2021
– Gevo, Inc. (NASDAQ: GEVO), announced today that it has closed a $68,155,000 “Green Bond” private activity bonds offering (the “Green Bond Offering”) to finance the construction of its renewable natural gas (“RNG”) project in Northwest Iowa (the “RNG Project”). The RNG Project will generate RNG captured from dairy cow manure (the “Feedstock”).

The Feedstock for the RNG Project will be supplied by three dairy farms located in Northwest Iowa totaling over 20,000 milking cows. When fully operational, the RNG Project is expected to generate approximately 355,000 MMBtu of RNG per year. Gevo is working with a major RNG dispenser to finalize an agreement to sell the RNG into the California market. RNG sale revenues are expected to benefit from California’s Low Carbon Fuel Standard (“LCFS”) program and the U.S. Environmental Protection Agency’s Renewable Identification Number (“RIN”) program. Some RNG may be used by Gevo as process energy in its Net-Zero 1 Project or Gevo’s other future Net-Zero projects.

Gevo fully funded the RNG Project’s development costs and 100% of its equity capital from cash reserves. Gevo received approximately $9.3 million in reimbursement for development, long lead equipment, and financing costs incurred during the development period upon closing of the Green Bond Offering. Construction of the RNG Project is expected to begin by the end of April 2021 and start up is expected in early 2022. Gevo will submit an LCFS pathway application to the California Air Resources Board and expects to realize full cash flows from LCFS credits and RINs in the second half of 2022. The RNG Project is then expected to generate cash for Gevo of approximately $9 to $16 million per year (including the LCFS credits and RINs).

“The RNG Project is expected to serve as an important component of Gevo’s Net-Zero strategy, and I want to thank President and Chief Operating Officer Chris Ryan and his team for their hard work and commitment that allowed us to accomplish this goal, and to Chief Financial Officer Lynn Smull and his team, and to Citigroup, for getting the debt deal done. We have a good team that has shown they can develop and finance RNG projects. We expect to use these capabilities going forward to develop additional RNG projects,” said Patrick R. Gruber, Chief Executive Officer of Gevo. “We are also pleased that our dairy partners will reap benefits from the RNG Project given that the manure digesters should improve the farms’ sustainability and lay the groundwork for more efficient recycling of nutrients and better soil health.”

The proceeds of the Green Bond Offering, combined with Gevo equity, will be used to finance (1) the construction of the RNG Project which is comprised of (A) three anaerobic digesters and related equipment situated on dairy farms located Northwest Iowa that will produce partially conditioned raw biogas from cow manure, (B) gathering pipelines to transport biogas to a centrally located gas upgrade system, (C) a centrally located gas upgrade system located in Doon, Iowa that will upgrade biogas to pipeline quality RNG and interconnect to Northern Natural Gas’ interstate pipeline, and (D) other related improvements; (2) to capitalize a portion of the interest due on the bonds during the construction period; and (3) to pay a portion of the costs of issuing the bonds.

For more information and details about the Green Bond Offering, please see the Current Report on Form 8-K that Gevo filed with the U.S. Securities and Exchange Commission on April 15, 2021.

About Gevo

Gevo’s mission is to transform renewable energy and carbon into energy-dense liquid hydrocarbons. These liquid hydrocarbons can be used for drop-in transportation fuels such as gasoline, jet fuel and diesel fuel, that when burned have potential to yield net-zero greenhouse gas emissions when measured across the full life cycle of the products. 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, resulting in low-carbon fuels with substantially reduced carbon intensity (the level of greenhouse gas emissions compared to standard petroleum fossil-based fuels across their life cycle). 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 problems of 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 enabling the use of a variety of low-carbon sustainable feedstocks to produce price-competitive low-carbon products such as gasoline components, jet fuel and diesel fuel yields the potential to generate project and corporate returns that justify the build-out of a multi-billion-dollar business.

Gevo believes that the Argonne National Laboratory GREET model is the best available standard of scientific-based measurement for life cycle inventory or LCI.

Learn more at Gevo’s 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, the development and construction of the RNG Project, the ability of Gevo to realize production of RNG by the RNG Project, Gevo’s ability to generate cash from the RNG Project, 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, 2020, 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.

Harte-Hanks Inc. (HRTH) – Announces Opening of New State-of-the-Art Fulfillment and Distribution Facility in Kansas City Kansas

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Harte Hanks Announces Opening of New State-of-the-Art Fulfillment and Distribution Facility in Kansas City, Kansas

 


New 297,000 Sq. Ft. Center with FDA/KDA Licensing Provides Food, OTC and Packaged Goods Product Storage and Distribution Capabilities

AUSTIN, Texas, April 15, 2021 /PRNewswire/ — Harte Hanks (Harte Hanks), a leading global customer experience company, today announced the opening of a new state-of-the-art fulfillment and distribution facility in Kansas City, Kansas.

This new location enables Harte Hanks’ clients to reach their customers with products in any region of the contiguous United States using standard ground transportation within three days, and outer regions such as Hawaii, Alaska and Puerto Rico within five days.

The Kansas City facility is expected to begin distributing over 20,000 packages a day, supporting the company’s move into eCommerce fulfillment. The facility expects to employ up to 125 professionals in various areas, including packaging, warehousing, logistics, and sales in both new and existing job opportunities.

Harte Hanks chose the Kansas City area to enable existing employees to access the new operation easily and to tap into the skilled workforce in the Kansas City marketplace as the company grows.

Brian Linscott, Harte Hanks’ Chief Operating Officer, said, “We are excited to expand our Fulfillment footprint, retain our highly skilled Kansas City team, and leverage the central distribution location to create efficient solutions for current and new customers.”

The facility, which features leading-edge digital print and packaging capabilities, is registered with the FDA and the Kansas Department of Agriculture to store and distribute packaged food products. These features, along with the facility’s grade A National Sanitation Foundation (NSF) certification, ensure that products and brands will be stored and shipped using the highest sanitation and food safety standards. 

“Whether fulfilling OTC products like vitamins and supplements, coffees and teas, pet foods, snack foods, cereals, or any packaged food product, this state-of-the-art temperature-controlled facility ensures that your product is delivered quickly and safely to your most desired customer,” said Pat O’Brien, Managing Director of Harte Hanks’ Fulfillment and Logistics business. “Our Marketing Services capabilities also provide clients with the ability to manage their digital storefront, end to end, making our offer highly differentiated.”    

Mr. O’Brien noted, for example, the facility’s ability to deliver fast and easy “smart sampling” options for customers. “Whether sampling packaged goods, pharmaceutical products, eCommerce goods or healthcare patient kits, the new facility’s central location can rapidly process and ship these products to customers in an incredibly effective manner that also provides significant cost savings.” 

About Harte Hanks

Harte Hanks (OTCMKTS: HRTH) is a global omnichannel customer experience company. We partner with clients to seamlessly manage experiences with their customers throughout the entire customer lifecycle through our marketing services, customer care, and fulfillment and logistics offerings. Harte Hanks works with some of the world’s most respected brands, including Bank of America, Cisco, IBM, Pfizer, Sony and Ford, among others. Headquartered in Austin, Texas, Harte Hanks has more than 2,000 employees in offices across the Americas, Europe and Asia Pacific.

For more information, visit hartehanks.com. 
For any questions, please contact Pat.Obrien@hartehanks.com

Images Available Upon Request

SOURCE Harte Hanks

QuickChek – April 15, 2021

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Gevo’s RNG Project Achieves Financial Closing

Gevo announced that it has closed a $68,155,000 “Green Bond” private activity bonds offering to finance the construction of its renewable natural gas project in Northwest Iowa

Research, News & Market Data on Gevo

Watch recent presentation from NobleCon17



Harte Hanks Announces Opening of New State-of-the-Art Fulfillment and Distribution Facility in Kansas City, Kansas

Harte Hanks announced the opening of a new state-of-the-art fulfillment and distribution facility in Kansas City, Kansas.

Research, News & Market Data on Harte Hanks



CoreCivic Announces Upsizing and Pricing of $450 Million 8.25% Senior Notes Due 2026

CoreCivic, Inc. closed its offering of $450,000,000 aggregate principal amount of 8.25% senior unsecured notes due 2026 on April 14, 2021

Research, News & Market Data on CoreCivic

Watch recent presentation from NobleCon17



Toilet Paper Sales Unravel as Households are Flush with Paper Goods

2020 blurred people’s focus as fight-or-flight instincts sometimes overruled common sense


Palladium One Continues to Intersect Significant Widths at Kaukua South

Palladium One Mining announced that drilling continues to return significant PGE grades and widths including 47 meters at 2.3 g/t Palladium equivalent at Kaukua South

Research, News & Market Data on Palladium One

Virtual Road Show tomorrow with Palladium One Mining CEO Derrick Weyrauch

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Release – Gevo (GEVO) – RNG Project Achieves Financial Closing Construction expected to begin end of April 2021

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Gevo’s RNG Project Achieves Financial Closing Construction expected to begin end of April 2021

 

ENGLEWOOD,
Colorado – April 15, 2021
– Gevo, Inc. (NASDAQ: GEVO), announced today that it has closed a $68,155,000 “Green Bond” private activity bonds offering (the “Green Bond Offering”) to finance the construction of its renewable natural gas (“RNG”) project in Northwest Iowa (the “RNG Project”). The RNG Project will generate RNG captured from dairy cow manure (the “Feedstock”).

The Feedstock for the RNG Project will be supplied by three dairy farms located in Northwest Iowa totaling over 20,000 milking cows. When fully operational, the RNG Project is expected to generate approximately 355,000 MMBtu of RNG per year. Gevo is working with a major RNG dispenser to finalize an agreement to sell the RNG into the California market. RNG sale revenues are expected to benefit from California’s Low Carbon Fuel Standard (“LCFS”) program and the U.S. Environmental Protection Agency’s Renewable Identification Number (“RIN”) program. Some RNG may be used by Gevo as process energy in its Net-Zero 1 Project or Gevo’s other future Net-Zero projects.

Gevo fully funded the RNG Project’s development costs and 100% of its equity capital from cash reserves. Gevo received approximately $9.3 million in reimbursement for development, long lead equipment, and financing costs incurred during the development period upon closing of the Green Bond Offering. Construction of the RNG Project is expected to begin by the end of April 2021 and start up is expected in early 2022. Gevo will submit an LCFS pathway application to the California Air Resources Board and expects to realize full cash flows from LCFS credits and RINs in the second half of 2022. The RNG Project is then expected to generate cash for Gevo of approximately $9 to $16 million per year (including the LCFS credits and RINs).

“The RNG Project is expected to serve as an important component of Gevo’s Net-Zero strategy, and I want to thank President and Chief Operating Officer Chris Ryan and his team for their hard work and commitment that allowed us to accomplish this goal, and to Chief Financial Officer Lynn Smull and his team, and to Citigroup, for getting the debt deal done. We have a good team that has shown they can develop and finance RNG projects. We expect to use these capabilities going forward to develop additional RNG projects,” said Patrick R. Gruber, Chief Executive Officer of Gevo. “We are also pleased that our dairy partners will reap benefits from the RNG Project given that the manure digesters should improve the farms’ sustainability and lay the groundwork for more efficient recycling of nutrients and better soil health.”

The proceeds of the Green Bond Offering, combined with Gevo equity, will be used to finance (1) the construction of the RNG Project which is comprised of (A) three anaerobic digesters and related equipment situated on dairy farms located Northwest Iowa that will produce partially conditioned raw biogas from cow manure, (B) gathering pipelines to transport biogas to a centrally located gas upgrade system, (C) a centrally located gas upgrade system located in Doon, Iowa that will upgrade biogas to pipeline quality RNG and interconnect to Northern Natural Gas’ interstate pipeline, and (D) other related improvements; (2) to capitalize a portion of the interest due on the bonds during the construction period; and (3) to pay a portion of the costs of issuing the bonds.

For more information and details about the Green Bond Offering, please see the Current Report on Form 8-K that Gevo filed with the U.S. Securities and Exchange Commission on April 15, 2021.

About Gevo

Gevo’s mission is to transform renewable energy and carbon into energy-dense liquid hydrocarbons. These liquid hydrocarbons can be used for drop-in transportation fuels such as gasoline, jet fuel and diesel fuel, that when burned have potential to yield net-zero greenhouse gas emissions when measured across the full life cycle of the products. 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, resulting in low-carbon fuels with substantially reduced carbon intensity (the level of greenhouse gas emissions compared to standard petroleum fossil-based fuels across their life cycle). 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 problems of 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 enabling the use of a variety of low-carbon sustainable feedstocks to produce price-competitive low-carbon products such as gasoline components, jet fuel and diesel fuel yields the potential to generate project and corporate returns that justify the build-out of a multi-billion-dollar business.

Gevo believes that the Argonne National Laboratory GREET model is the best available standard of scientific-based measurement for life cycle inventory or LCI.

Learn more at Gevo’s 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, the development and construction of the RNG Project, the ability of Gevo to realize production of RNG by the RNG Project, Gevo’s ability to generate cash from the RNG Project, 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, 2020, 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.

The Case for Higher Uranium Prices

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Here’s How Uranium’s Prices Could Spike in 2021

 

Uranium spot prices rose to as high as $34/lb in late May 2020.  Later in the year they sank below $30/lb in response to weakened economic conditions. As more signs of pandemic-related drags on the economy have begun to be removed, spot prices have risen back above $30.

 

 

Today, the price of the alternative fuel source remains well below the mid-forties; this is the level most North American producers claim to need to justify resuming production. At present, electric utility buyers and uranium producers seem to be at a standstill. Producers are unwilling to restart production until they have long-term contracts and buyers are unwilling to sign long-term contracts at levels above current spot prices.  An argument can be made that a sharp rise in uranium prices will follow, based on the following:

  • Uranium supply is not meeting demand. Worldwide uranium production fell to 123 million pounds in 2020, the lowest level since 2008. Production falls well short of global uranium demand, which is around 180 million lbs. The gap between demand and supply is being met by drawing down inventories, downgrading weapon-grade sources, and uranium underfeeding (re-enriching uranium tailing). These are short-term strategies.
  • Major uranium mines are closing removing 5.6
    million lbs. of production.     On January 8, 2021, the Ranger uranium mine in Australia ceased production removing 3 million lbs. of annual production. The Cominak mine in Niger ceased production on March 31, 2021 removing an additional 2.8 million lbs. of production.
  • The gap is growing as demand rises. New nuclear plants are being proposed. China’s recently released five-year energy plan calls for nuclear energy capacity to increase by 46% by 2025. New plants have been proposed in India and the Middle East. Several plants shut down by the 2011 Fukushima disaster have filed to restart. President Biden’s carbon reduction plans will promote increased use of nuclear energy in the United States.

 

 

  • Kazakhstan will not step up to fill the gap. Kazakhstan supplies about 40% of the world’s uranium supply. Last summer, Kazatomprom, Kazakhstan’s state-owned uranium production company, indicated that it will “flex down” production by 20% in 2022 and not return to full production levels until a sustained market recovery is evident. Assuming Kazakhstan goes through with a reduction of approximately 15 million pounds, the gap between demand and supply will grow from 55 million lbs. to 70 million lbs.
  • Canada cannot fill the gap by restarting
    mines.     Production at the two largest mines in Canada (McArthur River and Cigar Lake) was suspended in 2020 due to COVID and pricing issues. Cameco, the operator of both mines, announced on April 9th that it will restart production at Cigar Lake. However, Cigar Lake only produced 5 million lbs of uranium in 2020 and peaked at around 10 million lbs. McArthur River, which remains suspended, is licensed to produce up to 18.7 million lbs. annually but is unlikely to resume production until prices rise above $40/lb.

 

 

  • Russian supply is also decreasing. Russia produces about 5% of the world’s supply. In October 2020, the U.S. and Russia signed the Russian Suspension Agreement amendment, which will significantly reduce the amount of Russian uranium supplied to the U.S. beginning in 2021. The agreement reduces the allowed exports from 20% of US enrichment demand to an average of 17% over the next 20 years and no more than 15% in any year after 2028.
  • The proposed National Uranium Reserve will
    benefit U.S. uranium producers.     The 2021 proposed federal budget includes $150 million for the creation of a U.S. uranium reserve over the next ten years. The Working Group Report cites that “it is in (our) national security interests to preserve the assets and investments of the entire U.S. nuclear enterprise and to revitalize the sector to regain U.S. global nuclear leadership.” As such, we believe the creation of a reserve will be done by purchasing uranium from U.S. uranium miners.

These factors lead to the belief that a rise in uranium prices is likely as inventories dry up within the next 12-18 months. When spot prices start to rise, we believe buyers will scramble to sign contracts. This will, in turn, accelerate the rise in spot uranium prices. What’s more, any rise in uranium prices is likely to last for several years. Exploration companies typically talk about a 5-10 year window between beginning exploration drilling and reaching production. Most exploration companies have not been drilling due to low prices. Consequently, there will not be a supply response to rising prices that will hold prices in check. The result could be a boom period for uranium companies that are able to move to production quickly.

 

Suggested Content:

How Does Uranium Fit Into the Energy Landscape?

Is the Price of Uranium Rising?



Are There Long-Lived Changes in Oil Market Holding Prices Up?

Lithium-Ion Battery Recycling Heats Up

 

Sources

 

Kazatomprom
to continue reduced uranium production through 2022 — ANS / Nuclear Newswire, Nuclear New, August 25, 2020

UxC:
Uranium Market Outlook,

McArthur
River/Key Lake – Suspended – Uranium Operations – Businesses – Cameco, Cameco website

Federal
Register :: 2020 Amendment to the Agreement Suspending the Antidumping
Investigation on Uranium From the Russian Federation,

US
and Russia sign final amendment to uranium suspension agreement – Nuclear
Engineering International (neimagazine.com), Nuclear Engineering International, October 8, 2020

Congress
Funds Establishment of National Uranium Reserve and Codifies Protections of the
Recently Extended Russian Suspension Agreement (apnews.com), Associated Press, December 22, 2020

https://www.mining.com/stars-are-aligning-for-uranium-price-rally/, Frik Els, Mining.com, March 31, 2021

 

Virtual Road Show Series – Friday, April 16 @ 1pm EDT

Join Palladium One Mining 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 and open to all investors, at any level.

Register Now  |  View All Upcoming Road Shows

 

Release – Group 11 Technologies – Signs Option Agreement with GFG to Advance the Rattlesnake Hills Gold Project

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Group 11 Technologies Signs Option Agreement with GFG to Advance the Rattlesnake Hills Gold Project with Revolutionary Technology

Environmentally Friendly Solutions and In Place Mining to Extract Precious Metals

April 14, 2021, Dallas, Texas: Group 11 Technologies Inc. (“Group 11”) is pleased to announce it has signed an option and earn-in agreement (the “Agreement”) with GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“GFG”) to advance GFG’s Rattlesnake Hills Gold Project (the “Project”) in Wyoming, United States. Under the terms of the Agreement, Group 11 has the right to acquire, in multiple stages, up to 70% of the Project by completing a series of exploration and development expenditures (“Expenditures”) as summarized below and making staged cash and equity payments to GFG.

Group 11 Technologies Inc. is led by a group of technical pioneers and experts in the development and application of in-situ recovery (“ISR”) with significant experience operating in Wyoming. Group 11’s goal is to combine ISR, a non-invasive extraction technology, with an environmentally friendly water-based chemistry to recover gold and other metals, providing an alternative development path to conventional open pit and underground mineral extraction.

The Rattlesnake Hills Gold Project is viewed as an ideal test project for Group 11 for the following reasons:

  • Wyoming is a top United States mining jurisdiction with regulators who understand and effectively legislate ISR better than anywhere else in the US;
  • Gold grades throughout the system vary from low to high allowing for testing various grades response to the ISR process;
  • Gold occurs in a variety of geological settings, allowing for testing of various styles of mineralization;
  • Gold occurs across a large physical area allowing for testing under various lithostatic conditions across and through several rock types and chemistries;
  • Gold occurs under relatively accessible topography, an important consideration for wellfield development.

Live Webcast – April 15, 2021

Management of GFG and Group 11 will host a webcast on Thursday, April 15 at 10:00 am Eastern Standard

Time (7:00 am Pacific Standard Time) to discuss the Agreement, Group 11’s innovative technology, the

upcoming programs and to answer any questions from shareholders. Shareholders, analysts, investors, and media are invited to join the live webcast by registering using the link below.

Link: https://6ix.com/event/gfg-and-group11/

After registering, you will receive a confirmation email containing details to access the webinar via conference call or webcast. A replay of the webcast will be available following the conclusion of the call.

“Group 11 is very excited to establish its first anchor project with GFG and the Rattlesnake Hills Gold Project. Rattlesnake hosts all the necessary parameters, in a well-established jurisdiction, to test and apply the combination of ISR technology and our exclusive use of EnviroLeach’s non-cyanide water based chemistry for ISR applications,” said Janet Lee-Sheriff, President of Group 11. “We already have successfully tested the EnviroLeach non-cyanide chemistry on sulfide concentrates and achieved optimal results in shorter timelines than cyanide. The recyclability of the environmentally-friendly chemistry makes it an attractive ingredient in ISR technology and an alternative to cyanide for gold recovery. Group 11 will commence first stage lab test work on drill core in the summer of 2021 and we look forward to advancing our work to develop new solutions for the mineral extraction industry.”

“We are excited to have entered into a partnership with Group 11 to advance our Rattlesnake Hills Gold Project and be part of a technology that could revolutionize the gold mining industry,” stated Brian Skanderbeg, President and CEO of GFG. “Our Project is the ideal asset to test and optimize Group 11’s technology given the character of the mineralized systems, significant zones of gold mineralization and the established permitting path for ISR mining in Wyoming. This is an exciting development for our shareholders and stakeholders as we work with our partners to develop and apply ISR technology to gold systems. Over the last several decades, this technology has been successfully applied in both uranium and copper mining, driving significantly reduced development timeframes, lower capital intensity and materially reduced environmental impacts. We believe in its potential to be equally applicable to the gold space.”

Terms of the Agreement

Under the terms of the Agreement, Group 11 has a right to earn 70% interest in the Project over a six- year period by:

  • Incurring a minimum of US$9.5 million in Expenditures.
  • Paying 100% of holding and maintenance costs related to the Project.
  • Covering all Expenditures to advance the Project into commercial production.
  • Making staged equity payments to GFG of Group 11 common stock of up to 9.9% of Group 11’s common shares issued and outstanding on a fully-diluted basis.
  • Making a cash payment of US$7.5 million.

Summary of Agreement Stages

 

 

(1) Minimum expenditures exclude holding and maintenance costs.

(2) Commercial production is deemed as a rate of not less than 50% of the feasibility study-rated annual capacity.

Additional terms:

  • Closing of the Agreement is conditional upon Group 11 raising a minimum of US$1.5 million within 45 days after the execution of the Agreement.
  • The Agreement contains pre-emptive rights provisions should either party elect to sell its interest in the Project.
  • Group 11 has the option to extend any stage for 12 additional months by making a US$500,000 cash payment to GFG.
  • Group 11 will act as manager on the Project.

The Rattlesnake Hills Gold Project

The Rattlesnake Hills Gold Project is a district-scale gold exploration project located in central Wyoming approximately 100 kilometres southwest of Casper. Geologically, the Project is centrally located within a roughly 1,500-kilometre-long belt of alkalic intrusive complexes that occur along the eastern side of the Rocky Mountains from Montana to New Mexico, several of which are associated with multiple gold deposits.

The Project has approximately 100,000 metres (“m”) of historic drilling which has outlined three significant zones of alteration and precious metal mineralization that are associated with Eocene age alkalic intrusions at North Stock, Antelope Basin and Blackjack. The majority of the drilling has focused on near-surface, open pit mineralization in the North Stock and Antelope Basin deposits with highlights that include intercepts(3) of 1.85 grams of gold per tonne (g/t Au) over 236.2 m hole length; 4.20 g/t Au over

77.7 m hole length; 2.08 g/t Au over 150.9 m hole length and 0.82 g/t Au over 99.1 m hole length. In addition  to  the  outlined  zones  of  mineralization,  the  Company  believes  that  the  district  is  highly

prospective and has outlined several kilometre-scale greenfield targets that have never been drill tested. These greenfield targets were generated from the Company’s geophysical and geochemical programs and host strong similarities to the North Stock and Antelope Basin systems.

(3) Gold intervals reported are based on a 0.20 g/t or 0.50 g/t Au cutoff. Weighted averaging has been used to calculate all reported intervals. True widths are estimated at 60-100% of drilled thicknesses.

Qualified Persons

Brian Skanderbeg, P.Geo. and M.Sc., serves as President and CEO of GFG, and is a “qualified person” within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Skanderbeg has reviewed the respective core intervals, sampling and QA/QC procedures and results thereof as verification of the historical drilling data disclosed above and has approved the information contained in this news release.

About GFG Resources Inc.

GFG Resources is a North American precious metals exploration company focused on district scale gold projects in tier one mining jurisdictions, Ontario and Wyoming. In Ontario, the Company owns 100% of the Pen and Dore gold projects, two large and highly prospective gold properties west of the prolific gold district of Timmins, Ontario, Canada. The Pen and the Dore gold projects have similar geological settings that host most of the gold deposits found in the Timmins Gold Camp which have produced over 70 million ounces of gold. The Company also owns 100% of the Rattlesnake Hills Gold Project, a district scale gold exploration project located approximately 100 kilometres southwest of Casper, Wyoming, U.S. The geologic setting, alteration and mineralization seen in the Rattlesnake Hills are similar to other gold deposits of the Rocky Mountain alkaline province which, collectively, have produced over 50 million ounces of gold.

About Group 11 Technologies Inc.

Group 11 is a private US-based company committed to the development and application of environmentally and socially responsible precious metals mineral extraction. The combination of in-situ recovery extraction (ISR) technology and environmentally friendly water based chemistry to recover gold and other metals provides a promising alternate solution to conventional open pit and underground mineral extraction. The goal of advancing sustainable extraction considers growing concerns surrounding water use and discharge, carbon footprint, energy consumption, community stakeholders and workplace safety while addressing a growing global need for metals in our daily lives. Group 11 was founded by Enviroleach Technologies Inc. (CSE: ETI; OTCQB: EVLLF), Encore Energy Corp. (TSXV: EU; OTCQB: ENCUF) and Golden Predator Mining Corp. (TSXV: GPY; OTCQB: NTGSF).

Group 11 is a group of elements in the periodic table, also known as the coinage metals, consisting of gold (Au), silver (Ag) and copper (Cu).

For additional information: Group 11 Technologies Inc.

Janet Sheriff, President

214-304-9552

info@gr11tech.com www.gr11tech.com

GFG Resources Inc.

Brian Skanderbeg, President & CEO or

Marc Lepage, Vice President, Business Development Phone: (306) 931-0930

info@gfgresources.com www.gfgresources.com

Cautionary Note Regarding Forward-Looking StatementsThis news release includes certain forward-looking statements within the meaning of applicable securities laws including transactions and other properties, and the potential advancement thereof. 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, or other similar expressions. Estimates of mineral resources and reserves are also forward looking statements because they constitute projections regarding the amount of minerals that may be encountered in the future. All statements, other than statements of historical fact, included herein including, without limitation; statements about the terms and completion of the transaction are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the 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. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the respective companies 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.

Release – Harte-Hanks Inc. (HRTH) – Announces Opening of New State-of-the-Art Fulfillment and Distribution Facility in Kansas City Kansas

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Harte Hanks Announces Opening of New State-of-the-Art Fulfillment and Distribution Facility in Kansas City, Kansas

 


New 297,000 Sq. Ft. Center with FDA/KDA Licensing Provides Food, OTC and Packaged Goods Product Storage and Distribution Capabilities

AUSTIN, Texas, April 15, 2021 /PRNewswire/ — Harte Hanks (Harte Hanks), a leading global customer experience company, today announced the opening of a new state-of-the-art fulfillment and distribution facility in Kansas City, Kansas.

This new location enables Harte Hanks’ clients to reach their customers with products in any region of the contiguous United States using standard ground transportation within three days, and outer regions such as Hawaii, Alaska and Puerto Rico within five days.

The Kansas City facility is expected to begin distributing over 20,000 packages a day, supporting the company’s move into eCommerce fulfillment. The facility expects to employ up to 125 professionals in various areas, including packaging, warehousing, logistics, and sales in both new and existing job opportunities.

Harte Hanks chose the Kansas City area to enable existing employees to access the new operation easily and to tap into the skilled workforce in the Kansas City marketplace as the company grows.

Brian Linscott, Harte Hanks’ Chief Operating Officer, said, “We are excited to expand our Fulfillment footprint, retain our highly skilled Kansas City team, and leverage the central distribution location to create efficient solutions for current and new customers.”

The facility, which features leading-edge digital print and packaging capabilities, is registered with the FDA and the Kansas Department of Agriculture to store and distribute packaged food products. These features, along with the facility’s grade A National Sanitation Foundation (NSF) certification, ensure that products and brands will be stored and shipped using the highest sanitation and food safety standards. 

“Whether fulfilling OTC products like vitamins and supplements, coffees and teas, pet foods, snack foods, cereals, or any packaged food product, this state-of-the-art temperature-controlled facility ensures that your product is delivered quickly and safely to your most desired customer,” said Pat O’Brien, Managing Director of Harte Hanks’ Fulfillment and Logistics business. “Our Marketing Services capabilities also provide clients with the ability to manage their digital storefront, end to end, making our offer highly differentiated.”    

Mr. O’Brien noted, for example, the facility’s ability to deliver fast and easy “smart sampling” options for customers. “Whether sampling packaged goods, pharmaceutical products, eCommerce goods or healthcare patient kits, the new facility’s central location can rapidly process and ship these products to customers in an incredibly effective manner that also provides significant cost savings.” 

About Harte Hanks

Harte Hanks (OTCMKTS: HRTH) is a global omnichannel customer experience company. We partner with clients to seamlessly manage experiences with their customers throughout the entire customer lifecycle through our marketing services, customer care, and fulfillment and logistics offerings. Harte Hanks works with some of the world’s most respected brands, including Bank of America, Cisco, IBM, Pfizer, Sony and Ford, among others. Headquartered in Austin, Texas, Harte Hanks has more than 2,000 employees in offices across the Americas, Europe and Asia Pacific.

For more information, visit hartehanks.com. 
For any questions, please contact Pat.Obrien@hartehanks.com

Images Available Upon Request

SOURCE Harte Hanks

Release – CoreCivic (CXW) – Announces Closing of $450 Million 8.25 Percent Senior Notes Due 2026

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CoreCivic Announces Upsizing and Pricing of $450 Million 8.25% Senior Notes Due 2026

 

BRENTWOOD, Tenn., April 15, 2021 (GLOBE NEWSWIRE) — CoreCivic, Inc. (NYSE: CXW) (the “Company”) closed its offering of $450,000,000 aggregate principal amount of 8.25% senior unsecured notes due 2026 (the “Notes”) on April 14, 2021. The Notes were priced at 99.0% of face value and have an effective yield to maturity of 8.50%. The aggregate net proceeds from the sale of the Notes are expected to be approximately $435.1 million, after deducting the original issuance and underwriting discounts and estimated offering expenses. CoreCivic is using a significant amount of the net proceeds from the offering of the Notes (i) to redeem all $250 million principal amount of its outstanding 5.00% senior notes due 2022 (the “2022 Senior Notes”), which have been called for redemption on May 14, 2021 by a redemption notice issued on April 14, 2021, including the payment of the applicable make-whole amount and accrued interest, and (ii) to otherwise repay or reduce its other indebtedness, which includes repurchasing approximately $128 million principal amount of the $350 million aggregate principal amount of 4.625% senior notes due 2023 (the “2023 Senior Notes”). Following the repurchases of the 2023 Senior Notes described in the preceding sentence, the outstanding principal balance of the 2023 Senior Notes will be approximately $222 million. CoreCivic may use any remaining proceeds for general corporate purposes.

Imperial Capital acted as left lead underwriter, StoneX Financial Inc. acted as joint bookrunner, and Wedbush Securities Inc. acted as co-manager for the offering.

The Notes were offered pursuant to CoreCivic’s effective shelf registration statement on Form S-3ASR, which became effective upon filing with the Securities and Exchange Commission on April 6, 2021. A prospectus supplement describing the terms of the offering has been filed with the Securities and Exchange Commission and is available at www.sec.gov. The offering may be made only by means of a prospectus supplement and the accompanying prospectus. Copies of the prospectus supplement and accompanying prospectus relating to this offering may be obtained at Imperial Capital, LLC, 10100 Santa Monica Boulevard, Suite 2400, Los Angeles, CA 90067, Attn: Prospectus Department, or by telephone at (310) 246-3700.

This press release is neither an offer to sell nor a solicitation of an offer to buy any securities, nor shall it constitute a notice of redemption under the indenture governing the 2022 Senior Notes or the indenture governing the 2023 Senior Notes, nor shall there be any offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.

This press release includes forward-looking statements regarding CoreCivic’s intended use of the remaining net proceeds from the issuance of the Notes. These forward-looking statements may be affected by risks and uncertainties in CoreCivic’s business and market conditions. This information is qualified in its entirety by cautionary statements and risk factor disclosures contained in CoreCivic’s Securities and Exchange Commission filings, including CoreCivic’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, filed with the Securities and Exchange Commission on February 22, 2021, as well as the risks identified in the prospectus supplement and the accompanying prospectus relating to the offering. CoreCivic wishes to caution readers that certain important factors may have affected and could in the future affect CoreCivic’s actual results and could cause CoreCivic’s actual results for subsequent periods to differ materially from those expressed in any forward-looking statement made by or on behalf of CoreCivic, including the risk that the offering of the Notes cannot be successfully completed. CoreCivic undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date hereof.

About CoreCivic

CoreCivic is a diversified government solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. CoreCivic provides a broad range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America’s recidivism crisis, and government real estate solutions. CoreCivic is the nation’s largest owner of partnership correctional, detention and residential reentry facilities, and believes it is the largest private owner of real estate used by government agencies in the U.S. CoreCivic has been a flexible and dependable partner for government for more than 35 years. CoreCivic’s employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good.

Contact: Investors: Cameron Hopewell – Managing Director, Investor Relations – (615) 263-3024
Media: Steve Owen – Vice President, Communications – (615) 263-3107

 

Release – Palladium One Mining (NKORF)(PDM:CA) – Continues to Intersect Significant Widths at Kaukua South

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Palladium One Continues to Intersect Significant Widths at Kaukua South, Drills 47 Meters @ 2.3 g/t Pd_

 

Toronto, Ontario–(Newsfile Corp. – April 15, 2021) – Drilling continues to return significant PGE grades and widths including 47 meters at 2.3 g/t Palladium equivalent (“Pd_Eq”), (Hole LK21-061) at Kaukua South on the Läntinen Koillismaa (“LK”) PGE-Ni-Cu project in Finland, said Palladium One Mining Inc. (TSXV: PDM) (FSE: 7N11) (OTCQB: NKORF) (“Palladium One” or the “Company”) today.

Thus far, 46 holes have been drilled as part of the 17,500-meter Phase II Resource Definition drill program at Kaukua South, including today’s results, 29 have been released, while results for 17 holes are pending. The program’s goal has been to define the mineralization from surface to a depth of only 200 metres over the known 4-kilometer strike length of Kaukua South. In total 9,220 meters have been drilled to date as part of the Phase II program. Drilling is currently in hiatus for the spring thaw and is schedule to resume in mid-May.

Derrick Weyrauch, President and CEO of Palladium One, said, “Drilling at Kaukua South continues to intersect impressive grades and widths, and as evidenced by hole LK21-061 these results also extend to depth. Induced Polarization (IP) surveys along the east and west extensions of Kaukua South have now been completed and we expect preliminary results shortly. The current hiatus in drilling will be used for modelling and target generation on these new extensions”

Highlights

  • Drilling continues to demonstrate significant continuity of open pit grades and widths at Kaukua South
  • 46.9 meters grading 2.32 g/t Pd_Eq in hole LK21-061
  • 52.7 meters grading 1.50 g/t Pd_Eq in hole LK21-059
  • 45.4 meters grading 1.58 g/t Pd_Eq in hole LK21-054
  • 44.0 meters grading 1.46 g/t Pd_Eq in hole LK21-060
  • Kaukua South’s Upper Mineralized Zone delineation could have significant positive implications in a mining scenario by significantly reducing the strip ratio, thereby improving project economics.
  • IP surveys on Kaukua South’s western and eastern extensions have been completed.

Kaukua South Infill Drilling

Kaukua South infill drilling continues to demonstrate consistent open pit grades and widths. A total of 29 holes from the Phase II infill drill program on Kaukua South have now been released with intersections such as 47 meters at 2.6 g.t Pd_Eq in hole LK21-045 (see press release March 18, 2021) and 53 meters at 2.1 g/t Pd_Eq*, in hole LK20-028 (see press release January 18, 2021). These 29 holes cover approximately 2 kilometers of the Kaukua South Zone and have returned similar widths and grades to those in the Kaukua NI43-101 Open Pit resource estimate. (Figure 1 and 2).

Kaukua South Upper Mineralized Zone

As the Phase II infill drill program progresses the importance of the Upper Mineralized Zone at Kaukua South is taking shape. Kaukua South consists of two subparallel mineralized zones, the very continuous “Lower Zone” near the base of the Intrusion which is very similar to the Kaukua deposit with high PGE tenors and is the main focus of the current drill program. The “Upper Mineralized Zone” occurs in the hanging wall to the Lower Zone and is characterised by higher Cu-Ni values and lower PGEs (Table 1). The Upper Zone is typically lower grade and more sporadic than the Lower Zone but can exhibit greater widths (Figure 3). It’s position in the hanging wall relative to the Lower Zone is key, its presence has significant positive implications for the open pit potential of Kaukua South as it could reduce the strip ratio and allow an open pit to extend to greater depths than originally contemplated and thereby improve overall project economics.

As such, the Company has revisited and is planning to increase the average drilling depth at Kaukua South in areas with strong Upper Zone mineralization. The revised plan now targets the Lower Zone down to a 300-meter depth compared to the original 200-meter depth target.

IP Survey

The current IP surveys to the west and east of the existing 4-km Kaukua South zone have been completed and preliminary results are anticipated in the coming weeks. The hiatus in the drilling due to the spring thaw will be used to analyse this new data and generate targets to expand the Kaukua South zone. IP has 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 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, and 061 looking west.

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

Hole Zone 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 %
LK20-027 Lower Zone 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
LK20-028 Lower Zone 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
LK20-029 Lower Zone 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
LK20-030 Lower Zone 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
LK20-031 Lower Zone 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
LK20-032 Lower Zone 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
LK20-033 Lower Zone 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
LK20-034 Lower Zone 86.9 119.5 32.7 2.05 1.16 0.81 0.26 0.09 0.16 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
LK20-035 Lower Zone 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
LK20-036 Lower Zone 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
LK20-042 Lower Zone 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
LK20-043 Lower Zone 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
LK20-044 Lower Zone 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
LK20-045 Upper Zone 23.0 86.5 63.5 0.72 0.15 0.09 0.02 0.04 0.07 0.10

Inc. 23.0 42.1 19.1 0.94 0.22 0.12 0.04 0.06 0.10 0.12

Lower Zone 122.8 170.2 47.4 2.59 1.74 1.20 0.42 0.11 0.17 0.14

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
LK20-046 Lower Zone 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
LK20-047 Lower Zone 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
LK20-048 Lower Zone 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
LK20-049 Lower Zone 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
LK21-051 Lower Zone 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
LK21-052 Upper Zone 53.0 62.7 9.7 1.04 0.36 0.22 0.10 0.04 0.09 0.12

Lower 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
LK21-053 Upper Zone 60.0 63.0 3.0 1.20 0.51 0.33 0.13 0.06 0.11 0.11

Lower Zone 93.9 101.4 7.5 0.77 0.25 0.15 0.07 0.03 0.05 0.10
LK21-054 Upper Zone 30.0 32.5 2.6 1.82 0.58 0.34 0.08 0.16 0.22 0.19

Lower Zone 117.7 163.0 45.4 1.58 0.80 0.53 0.19 0.07 0.15 0.12

Inc. 149.0 158.8 9.8 2.00 1.16 0.78 0.27 0.11 0.20 0.12

Inc. 157.3 158.8 1.4 4.04 2.41 1.58 0.53 0.31 0.41 0.21
LK21-055 Upper Zone 31.0 45.0 14.0 1.04 0.26 0.15 0.04 0.07 0.13 0.13

Lower Zone 69.0 81.0 12.0 1.26 0.38 0.23 0.10 0.05 0.14 0.14

Inc. 76.2 80.0 3.8 1.59 0.55 0.33 0.16 0.06 0.20 0.16
LK21-056 Lower Zone 10.6 14.5 3.9 1.00 0.26 0.17 0.05 0.04 0.14 0.11
LK21-057
no significant values, dyked out
LK21-058 Lower Zone 87.0 101.0 14.0 1.01 0.53 0.32 0.15 0.06 0.09 0.07

Inc. 90.0 95.0 5.0 1.57 0.88 0.52 0.26 0.10 0.14 0.11

Inc. 90.0 90.7 0.7 3.10 2.10 1.33 0.64 0.14 0.22 0.16
LK21-059 Upper Zone 29.0 41.7 12.7 1.08 0.27 0.15 0.05 0.08 0.13 0.13

Inc. 39.5 41.7 2.2 1.74 0.50 0.33 0.07 0.11 0.21 0.20

Lower Zone 135.3 188.0 52.7 1.50 0.74 0.49 0.18 0.07 0.13 0.12

Inc. 135.3 169.2 33.9 1.72 0.84 0.55 0.20 0.08 0.17 0.14

Inc. 165.3 169.2 3.9 1.90 1.17 0.82 0.28 0.07 0.14 0.12
LK21-060 LK21-060 59.0 71.5 12.5 1.27 0.33 0.19 0.05 0.08 0.15 0.16

Inc. 69.1 70.3 1.2 2.90 1.01 0.75 0.14 0.12 0.24 0.34

Lower Zone 171.0 215.0 44.0 1.46 0.53 0.35 0.14 0.05 0.15 0.16

Inc. 203.5 213.5 10.0 1.80 0.68 0.46 0.16 0.06 0.20 0.18

Inc. 203.5 209.0 5.5 2.04 0.81 0.55 0.20 0.07 0.21 0.20
LK21-061 Upper Zone 92.5 155.5 63.0 0.62 0.14 0.08 0.02 0.03 0.06 0.08

Inc. 92.5 108.8 16.3 0.77 0.21 0.12 0.05 0.04 0.07 0.10

Lower Zone 203.2 250.0 46.9 2.32 1.43 0.97 0.34 0.13 0.17 0.14

Inc. 215.0 221.0 6.0 3.28 1.95 1.33 0.48 0.15 0.24 0.22

And 227.5 231.4 3.9 3.31 2.39 1.68 0.55 0.16 0.22 0.13

Inc. 230.7 231.4 0.7 6.02 4.61 3.35 1.10 0.16 0.32 0.22

And 237.0 239.7 2.7 3.65 2.52 1.76 0.64 0.12 0.25 0.17

 

* Reported widths are “drilled widths” not true widths.
** Orange shaded values previously released (see press release January 18, 2021, March 11, 2021, March 18, 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$15,432 per tonne for nickel. This calculation is consistent with the calculation in the Company’s September 2019 NI 43-101 Kaukua resource estimate. The palladium price used approximates the US$1,156 per ounce for palladium reported by UBS in its February 2021 commodity consensus price forecast report, while the current price of palladium is approximately US$2,600 per ounce.

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.

Seanergy Maritime (SHIP) – Update Shows Progress Lining Up Acquisition Financing

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Thursday, April 15, 2021

Seanergy Maritime (SHIP)
Update Shows Progress Lining Up Acquisition Financing

Seanergy Maritime Holdings Corp., an international shipping company, provides marine dry bulk transportation services through the ownership and operation of dry bulk vessels. Seanergy Maritime Holdings Corp. is the only pure-play Capesize shipping company listed in the US capital markets. Seanergy provides marine dry bulk transportation services through a modern fleet of 10 Capesize vessels, with total capacity of approximately 1,748,581 dwt and an average fleet age of about 9.8 years. The Company is incorporated in the Marshall Islands with executive offices in Athens, Greece and an office in Hong Kong. The Company’s common shares trade on the Nasdaq Capital Market under the symbol “SHIP” and class A warrants under “SHIPW”.

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

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

    Refinancing existing loan with larger longer term loan. A commitment for a new term loan of $37.45 million will refinance existing debt of $24.5 million that matures in 4Q2022. The new loan, which matures in December 2024 at the earliest, will be priced at Libor plus 350 basis points, and secured by three Capes (Squireship/Leadership/Lordship).

    Lease financing probable for Flagship acquisition.  Discussions on a lease of $20.5 million with attractive terms to fund more than 70% of the Flagship acquisition for $28.4 million are advanced …



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. 

Sierra Metals (SMTS)(SMT:CA) – Brownfield Exploration Reveals New High-Grade Zone at Yauricocha

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Wednesday, April 14, 2021

Sierra Metals (SMTS)(SMT:CA)
Brownfield Exploration Reveals New High-Grade Zone at Yauricocha

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

Sierra Metals Inc is a precious and base metals producer in Latin America. The company acquires, explores, extracts, and produces mineral concentrates consisting of silver, copper, lead, zinc and gold in Mexico and Peru. Its activity includes the operation of the Yauricocha Mine in Peru, and the Bolivar and Cusi mines in Mexico. Yauricocha is an underground polymetallic mine using the sublevel block caving and cut-and-fill mining methods. Bolivar is a copper-silver-zinc-gold underground mine using room-and-pillar mining method. The majority of the revenue is earned by selling of the mineral concentrates to its customers in Peru.

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.

    Brownfield exploration yields results. Sierra Metals released drilling results that revealed high-grade oxide polymetallic ore in an area between the Cachi Cachi and Esperanza Zones along the Yauricocha Fault within the Yauricocha mine’s operating footprint. The company’s brownfield drilling program is testing high priority targets at the Yauricocha Mine. Drilling intercepted oxide mineralization containing high-grade gold, silver, copper, zinc, and lead and highlights the potential for additional resource growth and high-value tonnage. To date, 21 holes have been drilled and more drilling is planned.

    Planned expansions.  Management anticipates receipt in the second quarter of the final permit to increase throughput at the Yauricocha mine by 20% to 3,600 tonnes per day. The company has published preliminary economic assessments for all three mines which support planned expansions and is working toward completion of preliminary feasibility studies. Longer-term expansions could increase capacity 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.