Month: May 2021

Release – Palladium One Intersects 2.1 g/t Pd_Eq over 38 Meters in the Lower Zone and Expands the Upper Zone at Kaukua South, Finland

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Palladium One Intersects 2.1 g/t Pd_Eq over 38 Meters in the Lower Zone and Expands the Upper Zone at Kaukua South, Finland

May 11, 2021 – Toronto,
Ontario – Drilling continues to intersect impressive widths and grades of Platinum Group Elements (“PGE”) including 
38 meters at 2.1 g/t Palladium equivalent (“Pd_Eq”) (Hole LK21-062) in the Lower Zone 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. Drilling has also expanded the strike length of the Upper Zone having intersected robust mineralization which returned 51 meters @ 0.9 g/t Pd_Eq (Hole LK21-064).

46 holes (9,469 metres) have been drilled as part of the 17,500-meter Phase II Resource Definition drill program at Kaukua South, including today’s results 34 have been released, while results for 12 holes await assays. Additionally, assay results are pending for 12 drill holes at the Haukiaho Zone, where the Company completed infill drilling in advance of a NI43-101 resource estimate. Drilling is currently in hiatus for the spring thaw and is schedule to resume in later May.

When drilling resumes the intent is to target open pit resource definition of the Lower mineralized zone (down to 300 meters) on the western side of Kaukua South, and to extend mineralization immediately south of the existing Kaukua NI43-101 Open Pit constrained resource estimate.

“Our understanding of an Upper Zone of mineralization continues to expand and so does our realization that it could add a significant amount of resources to the planned NI43-101 resource estimate.

The Upper Zone lies in the hanging wall of the high-grade Lower Zone which has been the primary focus of the Phase II drill program.

The Upper Zone’s position could have a significant positive economic influence on the any future open pit scenario; and as evidenced by hole LK21-064 it can locally carry substantial grades.” said Derrick Weyrauch, President and CEO.

Highlights

  • Results to date are highly encouraging and show a clear path toward a
    maiden open pit resource at Kaukua South.
  • Drilling demonstrates 
    significant continuity of open pit grades and widths
    in both the Upper and Lower Zones     at Kaukua South.
  • 2.06
    g/t Pd_Eq over 37.9 meters     in hole LK21-062 (Lower Zone)
  • 1.22
    g/t Pd_Eq over 70.5 meters     in hole LK21-064 (Lower Zone)
  • 0.92
    g/t Pd_Eq over 50.6 meters     in hole LK21-064 (Upper Zone)
  • Drilling in Kaukua south has consistently returned grades and widths, over 2 kilometers of strike length, similar to those in the Kaukua NI43-101 Open Pit constrained resource estimated immediately to the northwest.

Kaukua South Infill
Drilling
Kaukua South infill drilling continues to demonstrate consistent open
pit grades and widths. A total of 34 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).

Kaukua South Upper
Mineralized Zone
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, has been the main focus of the current drill program. The Upper Zone occurs in the hanging wall of the Lower Zone and is characterised by higher Cu-Ni values and lower PGEs (Table 1). The Upper Zone is typically more sporadic than the Lower Zone but can exhibit great widths such as seen in hole LK21-064 which returned 50.6
meters grading 0.92 g/t Pd-Eq (Figure 2). It’s position in the hanging wall relative to the Lower Zone is key and has significant positive
implications for the open pit potential of Kaukua South as it could 
reduce the strip ratio and allow the pit to
extend to greater depths than originally contemplated and thereby improve project economics. As such, the Company is planning to define the Lower Zone down to a 300-meters depth in areas with strong Upper Zone mineralization (Figure 1.).

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

Figure 2. Cross Sections A, B, C and D showing in Figure 1. Illustrating the Upper and Lower Zones in Kaukua South. Holes from this release are labelled in red.

Table 1: Phase II infill
drill results on Kaukua South released herein

* Reported widths are “drilled widths” not true widths.

*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. Additionally, US$1,100 per ounce for palladium is consistent with the UBS January 2021 long-term consensus price forecast even though the current price of palladium is approximately US$3,000 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.

Release – Seanergy Maritime Holdings Corp. Announces Delivery of Capesize M-V Hellasship and Time Charter Agreement with NYK Line

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Seanergy Maritime Holdings Corp. Announces Delivery of Capesize M/V Hellasship and Time Charter Agreement with NYK Line

May 6, 2021
– Glyfada, Greece – Seanergy Maritime Holdings Corp. (the “Company” or “Seanergy”) (NASDAQ: SHIP) announced today that it has taken delivery of the 181,325 dwt Capesize bulk carrier, built in 2012 by Imabari Shipbuilding Co. in Japan, which was renamed M/V
Hellasship (the “Vessel”). The delivery of the M/V Hellasship is the first of the four Capesize acquisitions performed already in 2021.  

The Vessel has been fixed on a time charter (“T/C”) with NYK Line, a leading Japanese shipping company and operator. The T/C is expected to commence immediately, upon finalization of the customary transition process and will have a term of minimum 11 to maximum 15 months from the delivery. The gross daily rate of the T/C is based at a premium over the Baltic Capesize Index (“BCI”).  

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

“We are pleased to announce the well-timed delivery of our twelfth cape vessel, during the strongest Capesize market of the last decade with spot rates standing currently above $42,000 per day. This delivery is the first of the four acquisitions we agreed so far in 2021, before the impressive surge in freight day rates and asset values. Needless to say, that our timing has been once again optimal.  

“At the same time, we are glad to initiate a long-term commercial partnership with another leading charterer through M/V Hellasship’ s period employment. The relationships we have established with first class charterers in the Capesize space attest to the operational quality of our fleet and management platforms. 

“Currently, 92% percent of our fleet is employed under index-linked time charters allowing Seanergy’ s earnings to be highly correlated with the performance of the Capesize index. We believe that Seanergy, as a pure-play Capesize owner, is best positioned to fully benefit from the strong earnings environment and increasing asset values.”   

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 

Hellasship 

Capesize 

181,325 

2012 

Imabari  

T/C Index Linked 

Goodship 

Capesize 

177,536 

2005 

Mitsui Engineering 

T/C Index Linked 

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 / Average age 

2,642,463 

 11.9 

 

*delivery expected by mid-June 
**delivering promptly  

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 vessels which the Company has recently agreed to acquire, the Company’s operating fleet will consist of 15 Capesize vessels with an average age of 11.9 years and aggregate cargo carrying capacity of approximately 2,642,463 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 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, including 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 

How Your Data is Used to Generate Big Returns

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image credit: Yan Krukov (pexels.com/@yankrukov)


Your Personal Data is the Currency of the Digital Age

The commodification of the internet in the early 1990s brought western societies into the digital age and has changed the way consumers interact with commercial enterprises.

The companies within the digital industry have one thing in common: the use of the user’s personal data through technology to gain a competitive advantage.

Spotify, Amazon, eBay, Apple, Google Play: these corporations have reached a level of product and service customization never seen before. Spotify’s algorithm, for example, offers you artists and playlists based on your age, gender, location, and listening history.

Management researchers are interested in these new forms of commerce for two main reasons: they mark a break with conventional business models and tend to do better during crises.

New Business Models

Recent research from the Massachusetts Institute of Technology indicates that in June 2020, at the height of the first wave of the COVID-19 pandemic, digital firms had an average return on investment of 10%, while traditional firms were still negative 14% in August. The authors’ conclusion is unequivocal: 21st-century organizations must adopt these new business models at the risk of perishing.

However, this business model is not without risk for the consumer. I have been writing about this phenomenon for a little over five years. My research has led me to propose a new model for generic management of this new industry and to look at the consequences that users face.

The new business models propose a fundamental break with those typically taught in business schools. Whereas the industrial age placed capital (mainly money) at the center of all transactions, the digital age favors information as a source of liquidity.

This disruption of the medium of exchange in a commercial transaction is particularly salient in certain industries. Readers of a certain age will surely remember printed maps. To get updates such as street name changes, you had to buy a new map. Google, for example, offers its users GPS functionality updated in real-time for free.

A Personalized Experience

Some firms use dual monetization in their product or service. This is particularly true in the mobile gaming industry. For example, some games use a freemium approach based on  monetizing user data and then inserting paid elements. In short, the best of both worlds!

This type of model is not bad in itself and even has advantages for the consumer, including the personalization of their experience and access to free offers and trials.

For example, when you search for a restaurant on Google Maps, you hope to get results based on your location, and when you shop online, products are suggested based on your purchase history.

 

The Customer is the Product

These benefits to the consumer can also backfire. Several researchers note an increase in the complexity of the customer relationship. Studies have shown that the overload of information available in the Canadian telecommunications industry can be used as strategic leverage by the seller.

For example, a user may be required to create a Pinterest account — recording personal information such as name, email address, and birthday — in order to view the site’s content. Other sites will deny access to content if the user has blocked cookies or trackers for advertising.

Consumers also have the right to wonder if they are becoming the product. For example, Google uses AdSense to collect the personal data of their users in order to monetize them to third parties, generally for advertising purposes. Similarly, Google benefits from offering services at no cost, because the more consumers use its services, the more information it collects about them.

It is in Amazon’s best interest to encourage us to browse its site — even if we don’t buy anything. The history of items viewed, keywords used, or time spent on a page can all be monetized.

The market for targeted online advertising is very lucrative. According to the annual Interactive Advertising Bureau 2017 report, online advertising generated revenues of US$88 billion in the United States alone in that year.

 

Reducing Your Digital Footprint

It’s hard to be totally invisible in the digital age! Indeed, it is rare that an individual is not part of any social network, does not have a cell phone or does not use the web on a daily basis. What’s more, the erosion of privacy has been so gradual that most people are not aware of the amount of information they reveal every day. Nevertheless, solutions exist to reduce one’s digital footprint.

Before entering their data, consumers may ask themselves if they really need the product or service, even if it is free. Is it really essential, for example, to create an account to consult a document or view an image on a site to which you will never return?

Firms that collect consumers’ personal information must first obtain their consent. These consent forms are often very long and written in jargon. Most people simply click on “I agree” without worrying about the implications.

In extreme cases, this simple gesture authorizes the firm to install spyware on your device. Sites like Terms of Service; Didn’t Read provides an overview of user agreements and identifies the elements that could have a negative impact on the user.

All Requested Information?

When the consumer creates an account, they must also question the relevance of giving all the information requested. Although it is important to indicate an actual birth date on a credit application, is it really necessary to give this information on a discussion forum?

It is also important to avoid using the same username (often email) and password for different accounts. Some firms use modules to collect data that link several services. Even if information is missing from one of the accounts, the module can cross-reference that account with those registered with other providers. In addition, if there is a data leak, it becomes easy for fraudsters to test the email and password combination on different platforms.

The provider promises to secure the personal data of its user. Unfortunately, several cases of recent leaks show us that this is not always the case.

Websites like Have I Been Pwned list data leaks, including email addresses and other information that may have been leaked. If your address has been leaked, it is strongly recommended that you change your password and check your accounts using the same address.

 

This article was republished with permission from The Conversation, a news site dedicated to sharing ideas from
academic experts. It was originally written in French by: Guillaume Desjardins Associate
Professor of Industrial Relations, Université du Québec en Outaouais

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Release – Comtech Telecommunications – Awarded $3.0 Million Order for Maintenance of Downrange Tracking Stations

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Comtech Telecommunication Corp. Awarded $3.0 Million Order for Maintenance of Downrange Tracking Stations

MELVILLE, N.Y.–(BUSINESS WIRE)–May 10, 2021– May 10, 2021– Comtech Telecommunications Corp. (NASDAQ: CMTL), a world leader in secure wireless communications technologies, announced today, that during its third quarter of fiscal 2021, its Space & Component Technology Group, which is part of Comtech’s Government Solutions segment, was awarded a $3.0 million order from an overseas agency for ground station maintenance and support.

“We are pleased that our customer continues to place its faith in our Ground Stations Group for support and maintenance of their downrange tracking stations,” said Fred Kornberg, Chairman of the Board and Chief Executive Officer of Comtech Telecommunications Corp.

For over 40 years, Comtech’s Space & Component Technology (“SCT”) division, located in Cypress, California, has specialized in the supply of high reliability microelectronics, supplying EEE parts for use in satellite, launch vehicle and manned space applications. Combining longstanding resources in Cypress, with new locations in Plano, Texas and Hampshire, United Kingdom, SCT also provides services encompassing all aspects of ground station life cycle management to include requirements definition and analysis, design, development and integration of turnkey systems from antenna to data processing, civil works and construction, station installation and verification, operations and maintenance, and decommissioning at end of life. A full line of satellite tracking antennas from 30cm to 13m, as well as RF feeds, radomes and carbon fiber reflectors, all for LEO, MEO and GEO orbits, are also supplied to customers worldwide. For more information, visit www.comtechspace.com.

Comtech Telecommunications Corp. is a leader in the global communications market headquartered in Melville, New York. With a passion for customer success, Comtech designs, produces and markets advanced secure wireless solutions to more than 1,000 customers in more than 100 countries. For more information, please visit www.comtechtel.com.

Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results could differ materially from such forward-looking information. The Company’s Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such Securities and Exchange Commission filings.

Media Contact:

Michael D. Porcelain, President and Chief Operating Officer
Comtech Telecommunications Corp.
631-962-7000
info@comtechtel.com

Release – Coeur Mining – Announces Investment in Victoria Gold Corp.

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Coeur Announces Investment in Victoria Gold Corp.

CHICAGO–(BUSINESS WIRE)–Coeur Mining, Inc. (“Coeur” or the
“Company”) (NYSE: CDE) announced today that it has entered into an agreement to acquire 11,067,714 (approximately 17.8%) of the outstanding undiluted common shares of Victoria Gold Corp. (“Victoria”) (TSX: VGCX) from Orion Co-VI Ltd. (“Orion”), at price of C$13.20 per share which reflects a 5% discount to the trailing 30-day volume weighted price for the period ending May 7, 2021. In connection with the transaction, Orion will receive 12,785,485 shares of Coeur common stock (approximately 4.9% of issued and outstanding shares), based on the trailing 30-day volume weighted price of $9.17 per share, for the period ended May 7, 2021, representing aggregate consideration of approximately $117.2 million. Orion’s sales of Coeur shares will be subject to certain restrictions. The transaction is expected to close on or about May 11, 2021, subject to closing conditions.

“We have long admired the quality of Victoria’s Eagle asset and its recent success in ramping up operations. This compelling opportunity to acquire 17.8% ownership interest in Victoria from Orion is consistent with our stated strategy and capital allocation framework, and complements our existing portfolio of precious metals assets in high-quality jurisdictions in North America,” commented Mitchell J. Krebs, Coeur’s President and Chief Executive Officer. “We are excited to become a shareholder of Victoria, and believe this transaction represents an attractive investment for our stockholders.”

Concurrently, the Company and Orion also entered into an agreement pursuant to which Orion has agreed, subject to certain terms and conditions, among other things, to certain transfer restrictions on its remaining shares in Victoria and to support, vote in favor of, or deposit all common shares it owns in favor of an offer, proposal or transaction that is supported by the board of directors of Victoria that would result in the acquisition by Coeur of more than 50% of the common shares of Victoria, or all or substantially all of the assets and properties of Victoria on a consolidated basis.

An early warning report will be filed by Coeur in accordance with applicable securities laws. As indicated in such report, in the future, Coeur may acquire or dispose of common shares or other securities of Victoria, either on the open market or in private transactions, depending on a number of factors. Coeur may engage in discussions with Victoria, and, if and when appropriate, its representatives, regarding the Company’s investment and possible strategic alternatives. While no present plans exist in this regard, Coeur may consider or develop plans and/or make proposals with respect to potential strategic transactions involving Victoria’s shares, business or assets.

 

About Coeur

Coeur Mining, Inc. is a U.S.-based, well-diversified, growing precious metals producer with five wholly-owned operations: the Palmarejo gold-silver complex in Mexico, the Rochester silver-gold mine in Nevada, the Kensington gold mine in Alaska, the Wharf gold mine in South Dakota, and the Silvertip silver-zinc-lead mine in British Columbia. In addition, Coeur has interests in several precious metals exploration projects throughout North America.

 

Cautionary Note Regarding Forward-Looking Statements

Certain information contained in this press release, including any information relating to the proposed investment in Victoria constitutes forward-looking statements or information within the meaning of securities legislation of the United States and Canada. In particular, this press release contains forward-looking statements including, without limitation, with respect to Coeur’s acquisition or disposition of securities of Victoria in the future and Coeur’s interest in Victoria on completion of the transaction with Orion. Forward-looking statements are necessarily based upon a number of assumptions, including material assumptions considered reasonable by Coeur as at the date of this press release in light of management’s experience and perception of current conditions and expected developments, and are inherently subject to significant business, economic, and competitive uncertainties and contingencies.

Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause Coeur’s actual results, performance or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the uncertainties and risk factors set out in filings made from time to time with the United States Securities and Exchange Commission, and the Canadian Securities regulators, including, without limitation, Coeur’s most recent reports on Form 10-K and Form 10-Q. Actual results, developments and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements or information. Coeur disclaims any intent or obligation to update publicly such forward-looking statements or information, whether as a result of new information, future events or otherwise. Additionally, Coeur undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Coeur, its financial or operating results or its securities.

 

Contacts

Coeur Mining, Inc.
104 S. Michigan Avenue, Suite 900
Chicago, Illinois 60603
Attention: Paul DePartout, Director, Investor Relations
Phone: (312) 489-5800
www.coeur.com

Release – Great Lakes Dredge & Dock – Announces Private Offering of Senior Notes

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Great Lakes Dredge & Dock Corporation Announces Private Offering of Senior Notes

 

HOUSTON, May 10, 2021 (GLOBE NEWSWIRE) — Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) (“Great Lakes” or the “Company”) (NASDAQ: GLDD), announced today that, subject to market conditions, it plans to offer $325 million aggregate principal amount of fixed-rate, unsecured senior notes (the “New Notes”) in a proposed private offering that will not be registered under the Securities Act of 1933, as amended (the “Securities Act”).

Great Lakes intends to use the net proceeds from the offering, together with cash on hand, to redeem $325 million aggregate principal amount of its outstanding 8.000% Senior Notes due 2022.

The New Notes will not be registered under the Securities Act or any state securities laws in the United States and may not be offered or sold in the United States absent registration or an exemption from the applicable registration requirements. Accordingly, the New Notes are being offered and sold only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A promulgated under the Securities Act and to non-U.S. persons outside the United States in accordance with Regulation S promulgated under the Securities Act. Holders of the New Notes will not have registration rights.

This press release does not constitute an offer to sell, or a solicitation of an offer to buy, the New Notes, nor will there be any sale of the New Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful. This press release does not constitute a notice of redemption with respect to any of the Company’s outstanding senior notes.

The Company

Great Lakes is the largest provider of dredging services in the United States. In addition, the Company has a long history of performing significant international projects. The Company employs experienced civil, ocean and mechanical engineering staff in its estimating, production and project management functions. In its over 130-year history, the Company has never failed to complete a marine project. Great Lakes owns and operates the largest and most diverse fleet in the U.S. dredging industry, comprised of over 200 specialized vessels. Great Lakes has a disciplined training program for engineers that ensures experienced-based performance as they advance through Company operations. The Company’s Incident & Injury Free® (IIF®) safety management program is integrated into all aspects of the Company’s culture. The Company’s commitment to the IIF® culture promotes a work environment where employee safety is paramount.

Cautionary Note Regarding Forward-Looking Statements

Except for historical and factual information, the matters set forth in this release and other of our oral or written statements identified by words such as “intends,” “plans,” “expects,” “anticipates,” “believes” and “will” and similar expressions are forward-looking statements within the federal securities laws. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Great Lakes and its subsidiaries, or industry results, to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. These cautionary statements are being made with the intention of obtaining the benefits of the “safe harbor” provisions of the federal securities laws. Great Lakes cautions investors that any forward-looking statements made by Great Lakes are not guarantees or indicative of future performance. Important assumptions and other important factors that could cause actual results to differ materially from those forward-looking statements with respect to Great Lakes, include, but are not limited to: the possibility that potential debt investors will not be receptive to the offering on the terms described above or at all; corporate developments that could preclude, impair or delay the above-described transactions due to restrictions under the federal securities laws; changes in the Company’s credit ratings; changes in the cash requirements, financial position, financing plans or investment plans of the Company or its affiliates; changes in general market, economic, tax, regulatory or industry conditions that impact the ability or willingness of the Company or its affiliates to consummate the above-described transactions on the terms described above or at all; and other risks referenced from time to time in the filings of the Company with the SEC.

Although Great Lakes believes that its plans, intentions and expectations reflected in or suggested by such forward-looking statements are reasonable, actual results could differ materially from a projection or assumption in any forward-looking statements. Great Lakes’ future financial condition and results of operations, as well as any forward-looking statements, are subject to change and inherent risks and uncertainties. The forward-looking statements contained in this press release are made only as of the date hereof and Great Lakes does not have or undertake any obligation to publicly update or revise any forward-looking statements whether as a result of new information, subsequent events or otherwise, unless otherwise required by law.

For further information contact:
Tina Baginskis
Director, Investor Relations
630-574-3024

Driven By Stem (STMH)(STEM:CA) – To Present at Canaccord Genuity’s Annual Global Cannabis Virtual Conference on May 11th

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Stem Holdings to Present at Canaccord Genuity’s Annual Global Cannabis Virtual Conference on May 11th

 

BOCA RATON, Fla., May 10, 2021 /PRNewswire/ — Stem Holdings, Inc. d/b/a Driven by Stem  (OTCQX: STMH CSE:STEM) (the “Company” or “Stem“), the first multi-state, vertically integrated Farm-to-Home™ (F2H) cultivation and technology omnichannel cannabis company featuring a proprietary Delivery-as-a-Service (DaaS) marketplace platform, today announced that Adam Berk, Chief Executive Officer, is scheduled to present virtually at the 2021 Canaccord Genuity Virtual Cannabis Conference, on Tuesday, May 11th at 10:00 a.m. ET.

Canaccord Genuity’s Annual Global Cannabis Conference is an investor-focused virtual event that engages a global network of leading players in the cannabis industry. The conference will be held via webcast and a presentation link will be provided on the Company’s website or at this link.

For more information or to schedule a one-on-one meeting with Stem Holdings, please contact KCSA Strategic Communications at STEM@KCSA.com.

About Stem Holdings, Inc.
Stem is a leading omnichannel, vertically-integrated cannabis branded products and technology company with state-of-the-art cultivation, processing, extraction, retail, distribution, and delivery-as-a-service (DaaS) operations throughout the United States. Stem’s family of award-winning brands includes TJ’s Gardens™, TravisxJames™, and Yerba Buena™ flower and extracts; Cannavore™ edible confections; Doseology™, a CBD mass-market brand launching in 2021; as well as DaaS brands Budee™ and Ganjarunner™ through the acquisition of Driven Deliveries. Budee™ and Ganjarunner™ e-commerce platforms provide direct-to consumer proprietary logistics and an omnichannel UX (user experience)/CX (customer experience).

For further information, please contact:
Media Contact: 
Mauria Betts 
STEM HOLDINGS, INC. 
Mauria@stemholdings.com  
971.319.0303

Investor Contact: 
KCSA Strategic Communications 
Valter Pinto or Elizabeth Barker 
+1 212-896-1254 or +1 212-896-1203
STEM@kcsa.com

SOURCE Stem Holdings, Inc.

Release – Neovasc Announces First Patient Enrollment in COSIMA Trial

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Neovasc Announces First Patient Enrollment in COSIMA Trial

VANCOUVER and MINNEAPOLIS – (NewMediaWire) – May 10, 2021 – NeovascInc. (Neovasc or the Company) (NASDAQ,TSX: NVCN) today announced that the first patient has been enrolled in the COronary SInus Reducer for the Treatment of Refractory Microvascular Angina (COSIMA) trial. The enrollment occurred at University Hospital, Mainz, Germany. The patient is an 82-year-old woman who suffers from severe Canadian Cardiovascular Society (CCS) Class IV angina on a daily basis despite optimal medical treatment. The study is being led by Prof. Tommaso Gori, M.D., Ph.D., University Medical Center, Mainz, Germany.

COSIMA is a randomized controlled trial, supported by Neovasc, investigating the Neovasc Reducer(TM) (Reducer) for the treatment of Microvascular Angina. The study will enroll up to 144 patients across multiple centers in Germany. The primary endpoint of the study is change in CCS angina class, a measure of chest pain severity and limitation, by two or more classes. Patients enrolled in the trial will be randomized to one of two groups: the treatment arm will receive the Reducer and continue with their optimized medications; the control arm will not receive the Reducer but will continue with their optimized medications. Patients will be followed for an initial period of six months to determine the outcomes of the two treatment strategies.

Microvascular Angina is a common condition that affects millions of patients worldwide, and it disproportionately affects women, stated Helen Ullrich, M.D., University Medical Center, Mainz, Germany, who enrolled the first patient in the trial. Preliminary case reports have suggested Reducer may be a beneficial treatment for microvascular angina. The COSIMA Trial is important because it will provide robust data on the performance of the Reducer in this important, underserved population.

There are millions of angiograms performed worldwide per year on patients experiencing angina symptoms. Studies suggest that up to 50% of the angiograms reveal no significant blockages in the large blood vessels of the heart, and of those patients without significant coronary blockages, almost half may have evidence of microvascular impairment. Microvascular angina can occur when the small blood vessels in the heart have increased resistance to blood flow and prevent sufficient oxygenated blood from reaching portions of the heart muscle. Patients with microvascular angina may require frequent hospitalizations, often undergo repeat invasive procedures, have an impaired quality of life and a poor prognosis.

Fred Colen, President and Chief Executive Officer of Neovasc, commented, Microvascular angina is a burden for patients, physicians and healthcare systems worldwide. Neovasc is committed to continuing to generate evidence supporting the safety and efficacy of the Reducer therapy, which is the only device of its kind on the market today. We are pleased to support the consequential COSIMA study, and we wish to thank the investigators for their efforts to commence the trial.

Patients that meet all the inclusion criteria for the trial, including objective evidence of ischemia documented by non-invasive testing such as a cardiac stress test, that are not good candidates for traditional stenting or bypass surgery, and that have evidence of an elevated Index of Microvascular Resistance, are eligible for inclusion in the clinical trial.

 

About Reducer

The Reducer is CE-marked in the European Union for the treatment of refractory angina, a painful and debilitating condition that occurs when the coronary arteries deliver an inadequate supply of blood to the heart muscle, despite treatment with standard revascularization or cardiac drug therapies. It affects millions of patients worldwide, who typically lead severely restricted lives as a result of their disabling symptoms, and its incidence is growing. The Reducer provides relief of angina symptoms by altering blood flow within the myocardium of the heart and increasing the perfusion of oxygenated blood to ischemic areas of the heart muscle. Placement of the Reducer is performed using a minimally invasive transvenous procedure that issimilar toimplanting a coronary stent and is completed in approximately 20 minutes.

While the Reducer is not approved for commercial use in the United States, the FDA granted Breakthrough Device designation to the Reducer in October 2018. This designation is granted by the FDA in order to expedite the development and review of a device that demonstrates compelling potential to provide a more effective treatment or diagnosis of life-threatening or irreversibly debilitating diseases. In addition, there must be no FDA approved treatments presently available, or the technology must offer significant advantages over existing approved alternatives.

Refractory angina, resulting in continued symptoms despite maximal medical therapy and without revascularization options, is estimated to affect 600,000 to 1.8 million Americans, with 50,000 to 100,000 new cases per year.

 

About Neovasc Inc.

Neovasc is a specialty medical device company that develops, manufactures and markets products for the rapidly growing cardiovascular marketplace. Its products include Reducer, for the treatment of refractory angina, which is not currently commercially available in the United States and has been commercially available in Europe since 2015, and Tiara(TM) for the transcatheter treatment of mitral valve disease, which is currently under clinical investigation in the United States, Canada, Israel and Europe. For more information, visit: www.neovasc.com.

 

Investors

Mike Cavanaugh

Westwicke/ICR

Phone: +1.646.877.9641

Mike.Cavanaugh@westwicke.com

 

Media

Sean Leous

Westwicke/ICR

Phone: +1.646.866.4012

Sean.Leous@westwicke.com

 

Forward-Looking Statement Disclaimer

Certain statements in this news release contain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws that may not be based on historical fact. When used herein, the words “expect”, “anticipate”, “estimate”, “may”, “will”, “should”, “intend,” “believe”, and similar expressions, are intended to identify forward-looking statements. Forward-looking statements may involve,but are not limited to, the number of patients expected to be enrolled in the COSIMA trial, the preliminary case reports suggesting the Reducer may be a beneficial treatment for microvascular angina, the Company’s intention to continue to generatee vidence supporting the safety and efficacy of the Reducer and the growing cardiovascular marketplace. Many factors and assumptions could cause the Company’s actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, the doubt about the Company’s ability to continue as a going concern; risks related to the recent COVID-19 coronavirus outbreak or other health epidemics, which could significantly impact the Company’s operations, sales or ability to raise capital or enroll patients in clinical trials and complete certain Tiara development milestones on the Company’s expected schedule; risks relating to the Company’s need for significant additional future capital and the Company’s ability to raise additional funding; risks relating to the sale of a significant number of Common Shares; risks relating to the possibility that the Company’s common shares (the Common Shares) may be delisted from the Nasdaq or the TSX, which could affect their market price and liquidity; risks relating to the Company’s conclusion that it did have effective internal control over financial reporting as of December 31, 2020 but not at December 31, 2019 and 2018; risks relating to the Common Share price being volatile; risks relating to the possibility that the Common Shares may be delisted from the Nasdaq or the TSX, which could affect their market price and liquidity; risks relating to the Company’s significant indebtedness, and its effect on the Company’s financial condition; risks relating to lawsuits that the Company is subject to, which could divert the Company’s resources and result in the payment of significant damages and other remedies; risks relating to claims by third-parties alleging infringement of their intellectual property rights; risks relating to the Company’s ability to establish, maintain and defend intellectual property rights in the Company’s products; risks relating to results from clinical trials of the Company’s products, which may be unfavorable or perceived as unfavorable; the Company’s history of losses and significant accumulated deficit; risks associated with product liability claims, insurance and recalls; risks relating to use of the Company’s products in unapproved circumstances, which could expose the Company to liabilities; risks relating to competition in the medical device industry, including the risk that one or more competitors may develop more effective or more affordable products; risks relating to the Company’s ability to achieve or maintain expected levels of market acceptance for the Company’s products, as well as the Company’s ability to successfully build its in-house sales capabilities or secure third-party marketing or distribution partners; risks relating to the Company’s ability to convince public payors and hospitals to include the Company’s products on their approved products lists; risks relating to new legislation, new regulatory requirements and the efforts of governmental and third-party payors to contain or reduce the costs of healthcare; risks relating to increased regulation, enforcement and inspections of participants in the medical device industry, including frequent government investigations into marketing and other business practices; risks relating to the extensive regulation of the Company’s products and trials by governmental authorities, as well as the cost and time delays associated therewith; risks relating to post-market regulation of the Company’s products; risks relating to health and safety concerns associated with the Company’s products and industry; risks relating to the Company’s manufacturing operations, including the regulation of the Company’s manufacturing processes by governmental authorities and the availability of two critical components of the Reducer; risks relating to the possibility of animal disease associated with the use of the Company’s products; risks relating to the manufacturing capacity of third-party manufacturers for the Company’s products, including risks of supply interruptions impacting the Company’s ability to manufacture its own products; risks relating to the Company’s dependence on limited products for substantially all of the Company’s current revenues; risks relating to the Company’s exposure to adverse movements in foreign currency exchange rates; risks relating to the possibility that the Company could lose its foreign private issuer status under U.S. federal securities laws; risks relating to the possibility that the Company could be treated as a “passive foreign investment company”; risks relating to breaches of anti-bribery laws by the Company’s employees or agents; risks relating to future changes in financial accounting standards and new accounting pronouncements; risks relating to the Company’s dependence upon key personnel to achieve its business objectives; risks relating to the Company’s ability to maintain strong relationships with physicians; risks relating to the sufficiency of the Company’s management systems and resources in periods of significant growth; risks relating to consolidation in the health care industry, including the downward pressure on product pricing and the growing need to be selected by larger customers in order to make sales to their members or participants; risks relating to the Company’s ability to successfully identify and complete corporate transactions on favorable terms or achieve anticipated synergies relating to any acquisitions or alliances; risks relating to conflicts of interests among the Company’s officers and directors as a result of their involvement with other issuers; and risks relating to anti-takeover provisions in the Company’s constating documents which could discourage a third-party from making a takeover bid beneficial to the Company’s shareholders.These risk factors and others relating to the Company are discussed in greater detail in the “Risk Factors” section of the Company’s Annual Information Form and in the Management’s Discussion and Analysis for the three months ended March 31, 2021 (copies of which may be obtained at www.sedar.com  or www.sec.gov). The Company has no intention and undertakes no obligation to update or revise any forward-looking statements beyond required periodic filings with securities regulators, whether as a result of new information, future events or otherwise, except as required by law.

Buying the Dip, Risk, and Rewards

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Is it Wise to Buy on Dips?

If you liked it at $0.58, you should love it at $0.50, right? Whether it’s an asset priced at $60,000 or valued under a dollar, the “should I buy the dip?” question is the same. The answer may depend on what kind of investor you are and if it is consistent with your style. 

Buying the Dip

Pullback buying is an investment concept best suited for patient investors with faith in cycles, some “dry powder” with which to scale into a position, and a market (and asset within that market), which has been trending upward.  It is also an investment strategy for those that have been looking for an entry point to more comfortably take a position in something that has been rallying. In practice, what’s done is they take a position or add to a position at a predetermined price drop, typically defined in percentage.  The expectation is that the odds are now more on their side, and the dip is not a complete change in direction. The investor buys with the idea that it will resume its trend past its previous recent high. If it does not, there is comfort in knowing the potential for loss is less than it was prior to the dip.

 

Defining a Dip

The more successful investors are not arbitrary in recognizing a dip that is worthy of buying into. Their practice may include either following how an asset has been trading and recognizing that it has a rhythmic decline within a percentage range. Or, seeing an investment has fallen and then go back to measure its historic dips to see if the new decline is part of an upward pattern. The investor will look to pull the trigger only after a decline that is a percentage within the previous patterns.

The chart above shows the 20-year uptrend in AAPL.  The stock demonstrates consistent dips in its
uptrend that may have only disappointed a long-term dip investor a couple of times.

 

Probability not Perfection

There is no perfect investment strategy. What the investor or trader is looking to do is improve the probability for higher profit; there is no strategy where profits are certain.

Some traders will also look at other measures to help determine if the change in direction is more likely to take hold. This could include whether the dip came with increasing volume of transactions or declining. They will look to see if the average is higher or lower on up days compared to when its retracing previous gains. Other popular methods for choosing an entry point or even whether to enter after a dip are standard tools found on most online broker trading packages, such as moving average crossovers, Bollinger bands, MACD, and a host of more complex measurements and stochastics.

Pitfalls

It’s important to know as much about a company and the industry as you can before committing capital. A stock that has dipped 20% from $10 to $8 might fit all the criteria to being a buy, yet a simple read of an analyst research note might indicate this isn’t a dip, but instead part of a bigger drop. It could even suggest that the outlook is less hopeful. Understanding the fundamentals of the company could help avoid some bad trades. The price may have fallen because it lost a big contract, involved in a lawsuit, revised earnings projections, management changes, competition, and so forth. That 20% drop might be just the beginning.

 

 

Managing Risk

The better trading strategies and investment styles include a form of risk control.  When buying an asset after it has declined, traders and investors generally define what the scenario looks like if it isn’t working out. In other words, they use past history and expectations to determine if the investment is not acting as anticipated. If it keeps going down, it trades sideways (tying up capital), or breaks other rules the trader may have set for themselves related to the position, they may need to exit.  

Buying the dips or “buy low, sell high” only works if you can sell high. If the stock is no longer in an uptrend, if it is making lower highs after each pullback, then there may be a more productive place to put your money.

Take-Away

Buying the dip or adding to a position on pullbacks is a trend that can be profitable but not guaranteed. It is best in long-term uptrends. As with anything else, the more going in your favor, the better. Overall, probabilities should increase if the overall market is also trending up, the industry is trending up, and the is economy accelerating. As with any strategy, a clear, purposeful plan and exit strategy is advised.

Dip buying can lower the investor’s average cost of a position over those who are prone to chasing investments. Supplementing any chart strategy with fundamental analysis or any fundamental analysis strategy with using a chart to create a dip strategy is also smart policy.

Suggested Reading

Making Sense of Non-Fungible Tokens

Small-Cap Names in a Big Crypto Market



Investing in Leisure Post Pandemic

The Russell Index Reconstitution, What to Know

Sierra Metals (SMTS)(SMT:CA) – Growth Outlook Supported by Planned Expansions and Rising Metals Prices

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Monday, May 10, 2021

Sierra Metals (SMTS)(SMT:CA)
Growth Outlook Supported by Planned Expansions and Rising Metals Prices

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.

    First quarter 2021 financial results. Sierra Metals reported first quarter 2021 adjusted net income attributable to shareholders of $4.4 million, or $0.03 per share, compared with $1.2 million, or $0.01 per share, during the prior year period. Adjusted EBITDA increased 57.1% to $25.3 million compared with $16.1 million in the prior year period. Our EPS and EBITDA estimates were $0.05 and $28.4 million. First quarter production results were impacted by some transitory operational issues that resulted in production from lower grades of ore mined at the Yauricocha and Bolivar mines.

    Updating estimates.  We have trimmed our 2021 EPS and EBITDA estimates to $0.32 and $163.3 million from $0.36 and $166.1 million, respectively. Our estimates reflect modestly lower metal production, increased costs, and a higher tax rate. These impacts are partially offset by higher metals price assumptions. We forecast 2021 production of 4.4 million ounces of silver, 11.4 thousand ounces of gold …



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. 

Eagle Bulk Shipping (EGLE) – Positive Outlook Boosts Estimates and Price Target

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Monday, May 10, 2021

Eagle Bulk Shipping (EGLE)
Positive Outlook Boosts Estimates and Price Target

Eagle Bulk Shipping Inc. is a US-based drybulk owner-operator focused on the Supramax/Ultramax mid-size asset class, which ranges from 50,000 and 65,000 deadweight tons in size; these vessels are equipped with onboard cranes allowing for the self-loading and unloading of cargoes, a feature which distinguishes them from the larger classes of drybulk vessels and provides for greatly enhanced flexibility and versatility- both with respect to cargo diversity and port accessibility. The Company transports a broad range of major and minor bulk cargoes around the world, including coal, grain, ore, pet coke, cement, and fertilizer. Eagle operates out of three offices, Stamford (headquarters), Singapore, and Hamburg, and performs all aspects of vessel management in-house including: commercial, operational, technical, and strategic.

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

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

    Adjusted 1Q2021 EBITDA million in line with expectations. The year has started off well and EBITDA of $31.5 million was in line with expectations and above 4Q2021 EBITDA of $22.0 million. Given the 1Q2021 forward cover of 93% of available booked at $15,085/day, the quarter was mostly locked in, and it was the third quarter in a row of improving results.

    Impressive 2Q2021 forward cover positively impacts 2021 EBITDA and TCE rate estimates.  Introducing 2022 EBITDA estimate of $227.7 million. Forward cover of 71% of available days booked at $20.1k/day is impressive and we are increasing our 2021 EBITDA estimate to $201.7 million based on TCE rates of $19.4k/day. Our 2022 EBITDA estimate is based on TCE rates of $20.1k/day and ownership days of 18,980 …



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. 

E.W. Scripps Company (SSP) – Stepping Up To The OTT Plate

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Monday, May 10, 2021

E.W. Scripps Company (SSP)
Stepping Up To The OTT Plate

The E.W. Scripps Co. (www.scripps.com) serves audiences and businesses through a growing portfolio of television, print and digital media brands. After approval of its acquisition of two Granite Broadcasting stations later this year, Scripps will own 21 local television stations as well as daily newspapers in 13 markets across the United States. It also runs an expanding collection of local and national digital journalism and information businesses including digital video news service Newsy. Scripps also produces television programming, runs an award-winning investigative reporting newsroom in Washington, D.C., and serves as the longtime steward of one of the nation’s largest, most successful and longest-running educational programs, Scripps National Spelling Bee. Founded in 1879, Scripps is focused on the stories of tomorrow.

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

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

    Q1 results exceed expectations. Total company revenues of $540.9 million exceeded our estimate of $526.3 million by 2.8%, with core advertising the largest upside variance to our estimates. Q1 Adjusted EBITDA far exceeded our estimates, $140.8 million versus our estimate of $107.4 million, as the company benefited from cost synergies from its January purchase of Ion Media.

    Company provides guidance.  Given the improved revenue visibility, management reinstated providing guidance for the upcoming quarter and provided more color full year free cash flow generation. The guidance was above our Q2 expectations …



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. 

CoreCivic, Inc. (CXW) – Post Call Update

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Monday, May 10, 2021

CoreCivic, Inc. (CXW)
Post Call Update

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

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

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

    A Fluid Situation. The situation in the Safety segment remains fluid. Again, the key issue is the USMS. We continue to believe there does not exist an acceptable and available alternative to the private industry. On the positive side, two facilities in which the USMS is currently exiting are in-demand from various State Department of Corrections. This should help mitigate the USMS impact, at least in the near-term.

    Alabama.  The Alabama project continues to move forward, although it has been pushed to the right due to the Barclay’s situation. In addition, a lawsuit has been filed to stop the construction of the facilities. We would note again that the State is under Federal Court order to improve conditions at its facilities …



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.