Month: February 2022

What Hydrogen Investors are Excited About

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  Image Credit: US Department of Energy


U.S. Hydrogen Initiative Excites Investors – Billions in Funds Become Available

 

The Department of Energy (DOE) just firmed up plans to develop a methodology to decide how to divvy up $9.528 billion in new funding for hydrogen projects. DOE is now formally requesting suggestions from companies and experts in the field on how to best make use of the money for hydrogen projects. The funds have been approved through the bipartisan infrastructure bill. Beginning Tuesday (February 15), they’re looking for input. Various hydrogen stocks ran up double digits on the news and remained positive.

The hydrogen initiatives were among several projects announced Tuesday as part of the White House push to decarbonize the industrial sector, including a new “Buy Clean” task force that will encourage low-carbon federal purchases, and updated guidance and transparency for carbon-capture projects. It also provides funds for energy assessment training, to help evaluate low/no-carbon features.  

The U.S. DOE will spend $8 billion on at least four hydrogen proposed “hubs” spread across the U.S. that will build out a network for production, processing, distribution, and storage. Under the infrastructure plan, the four hubs must support different types of hydrogen production and use.  This is expected to include hubs that are capable of producing hydrogen using fossil fuels, nuclear energy, and renewable energy. At least one of the hubs will provide hydrogen that can be used in power generation, transportation, industrial use, and heating.

The focus on multiple types of hydrogen has upset some environmental groups as they are concerned it would prolong the life of fossil fuel use.  Opposing these groups is the thought that a “semi-dirty hydrogen electron” may be better than a “dirty-fossil fuel electron” if it puts the country on a path to eventual net-zero.

The announcement points to a formal solicitation on how to spend almost $10 billion. For this it has put out requests for information (RFI). The RFIs are a call to companies, environmental groups and other experts, which will help determine how to structure the hubs and whether four is adequate.

 

Source: EERE Funding Opportunity Exchange

 

On Tuesday the DOE also made available $1 billion of additional funds for research into clean hydrogen electrolysis. This is the method of producing hydrogen from renewable energy such as wind and solar. It also announced $500 million for a research and development program for manufacturing and recycling clean hydrogen-related equipment.

DOE’s aim is to reduce the cost of clean hydrogen by 80% within the next ten years to $1 per kilogram ($3.80 per gallon) and announced $28 million for research and development of engineering projects for industrial, electricity, and transportation-related clean hydrogen.

In total the hydrogen industry will receive $9.528 billion ($8b+$1b+5b+$28m) in funds to stimulate the growth of the future of hydrogen power.

Take-Away

While lithium-ion electric storage has become understood among those powering their homes and cars, hydrogen storage has gotten less attention. The benefits of releasing power stored as hydrogen atoms and reacting within a fuel cell have benefits unmatched by the batteries now in widespread use. Both technologies are still considered in their infancy. The U.S. Department of Energy is looking to speed the innovation and adoption process to help with its clean energy initiative. Almost $10 billion will go a long way to
benefit
companies that may otherwise fail for lack of capital or take a more measured growth pace.  Investors are reacting to the potential.

Paul Hoffman

Managing Editor, Channelchek

 

Suggested Reading



Unhyped Hydrogen Investments

Lithium-ion Power vs Hydrogen Fuel Cell





Why Interest Rates Will Keep Rising

How Does the Gates Buffett Nuclear Reactor Work?

 

Sources

https://www.energy.gov/articles/doe-establishes-bipartisan-infrastructure-laws-95-billion-clean-hydrogen-initiatives

https://eere-exchange.energy.gov/Default.aspx#FoaId5d96172f-e9b6-48ff-94ac-5579c3531526


 

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Can You Stimulate the Gene that Fights Alzheimer’s and Dementia

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Study Links Gene to Cognitive Resilience in the Elderly

 

Anne Trafton | MIT News Office

 

Many people develop Alzheimer’s or other forms of dementia as they get older. However, others remain sharp well into old age, even if their brains show underlying signs of neurodegeneration.

Among these cognitively resilient people, researchers have identified education level and amount of time spent on intellectually stimulating activities as factors that help prevent dementia. A new study by MIT researchers shows that this kind of enrichment appears to activate a gene family called MEF2, which controls a genetic program in the brain that promotes resistance to cognitive decline.

The researchers observed this link between MEF2 and cognitive resilience in both humans and mice. The findings suggest that enhancing the activity of MEF2 or its targets might protect against age-related dementia.

“It’s increasingly understood that there are resilience factors that can protect the function of the brain,” says Li-Huei Tsai, director of MIT’s Picower Institute for Learning and Memory. “Understanding this resilience mechanism could be helpful when we think about therapeutic interventions or prevention of cognitive decline and neurodegeneration-associated dementia.” Tsai is the senior author of the study, which appeared in Science Translational Medicine. The lead authors are recent MIT Ph.D. recipient Scarlett Barker and MIT postdoctoral fellow and Boston Children’s Hospital physician Ravikiran (Ravi) Raju.

 

Protective Effects

A large body of research suggests that environmental stimulation offers some protection against the effects of neurodegeneration. Studies have linked education level, type of job, number of languages spoken, and amount of time spent on activities such as reading and doing crossword puzzles to higher degrees of cognitive resilience.

The MIT team set out to try to figure how these environmental factors affect the brain at the neuronal level. They looked at human datasets and mouse models in parallel, and both tracks converged on MEF2 as a critical player.

MEF2 is a transcription factor that was originally identified as a factor important for cardiac muscle development but later was discovered to play a role in neuron function and neurodevelopment. In two human datasets comprising slightly more than 1,000 people altogether, the MIT team found that cognitive resilience was highly correlated with expression of MEF2 and many of the genes that it regulates.

Many of those genes encode ion channels, which control a neuron’s excitability, or how easily it fires an electrical impulse. The researchers also found, from a single-cell RNA-sequencing study of human brain cells, that MEF2 appears to be most active in a subpopulation of excitatory neurons in the prefrontal cortex of resilient individuals.

To study cognitive resilience in mice, the researchers compared mice who were raised in cages with no toys, and mice placed in a more stimulating environment with a running wheel and toys that were swapped out every few days. As they found in the human study, MEF2 was more active in the brains of the mice exposed to the enriched environment. These mice also performed better in learning and memory tasks.

When the researchers knocked out the gene for MEF2 in the frontal cortex, this blocked the mice’s ability to benefit from being raised in the enriched environment, and their neurons became abnormally excitable.

“This was particularly exciting as it suggested that MEF2 plays a role in determining overall cognitive potential in response to variables in the environment,” Raju says.

The researchers then explored whether MEF2 could reverse some of the symptoms of cognitive impairment in a mouse model that expresses a version of the tau protein that can form tangles in the brain and is linked with dementia. If these mice were engineered to overexpress MEF2 at a young age, they did not show the usual cognitive impairments produced by the tau protein later in life. In these mice, neurons overexpressing MEF2 were less excitable.

“A lot of human studies and mouse model studies of neurodegeneration have shown that the neurons become hyperexcitable in early stages of disease progression,” Raju says. “When we overexpressed MEF2 in a mouse model of neurodegeneration, we saw that it was able to prevent this hyperexcitability, which might explain why they performed cognitively better than control mice.”

 

Enhancing Resilience

 The findings suggest that enhancing MEF2 activity could help to protect against dementia; however, because MEF2 also affects other types of cells and cellular processes, more study is needed to make sure that activating it wouldn’t have adverse side effects, the researchers say.

The MIT team now hopes to further investigate how MEF2 becomes activated by exposure to an enriching environment. They also plan to examine some of the effects of the other genes that MEF2 controls, beyond the ion channels they explored in this study. Such studies could help to reveal additional targets for drug treatments.

“You could potentially imagine a more targeted therapy by identifying a subset or a class of effectors that is critically important for inducing resilience and neuroprotection,” Raju says.

 

Suggested Reading



Advancing Research into Alzheimer’s Disease with Stem Cells

Understanding Alzheimer’s, Dementia, ALS, and Neurodegenerative Diseases





The Anti-Aging and Rejuvenating Properties of Stem Cells

FDA Oncology Director Expresses Concerns Over Applicability of Chinese Data

 


 

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Voyager Digital (VYGVF)(VOYG:CA) – Record 2Q22 But Headwinds Likely To Temper 3Q22

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Wednesday, February 16, 2022

Voyager Digital (VYGVF)(VOYG:CA)
Record 2Q22, But Headwinds Likely To Temper 3Q22

Voyager Digital Ltd through its subsidiary, operates as a crypto asset broker that provides retail and institutional investors with a turnkey solution to trade crypto assets. The company offers investors execution, data, wallet and custody services through its institutional-grade open architecture platform.

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

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

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

    2Q22 Results. Voyager reported $164.8 million of revenue for 2Q22, in-line with the $165 million guidance. Merchant services added nearly $16 million of overall revenue and staking revenue was $20.7 million. We had projected revenue of $141 million. Voyager reported net income of $2.6 million for the quarter, or $0.01 per share, in-line with consensus, but below our $0.06 estimate.

    Key Metrics.  Total verified users grew to 3.2 million as of December 31st, up from 2.15 million on September 30th, while total funded accounts rose to 1.074 million from 860,000 over the same period. Total funded to total verified fell to .336 from .400. We expect a portion of this reflects the hugely successful Mavericks promotion. Net new deposits in the fiscal second quarter totaled $1.04 …



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. 

Schwazze Closes Acquisition Of Colorado Cultivation Grower Brow 2, LLC

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Schwazze Closes Acquisition Of Colorado Cultivation Grower Brow 2, LLC

Research, News, and Market Data on Schwazze

 

Additional Indoor Grow Acquisition Increases Cultivation Capacity
Company Continues to Execute Growth Strategy Through Acquisitions

DENVER, Feb. 16, 2022 /CNW/ – Schwazze, (OTCQX: SHWZ) (“Schwazze” or the “Company”), announced today that it has closed the transaction to acquire the assets of Brow 2, LLC, located in Denver, Colorado.  The planned transaction includes a 37,000 square foot building and equipment designed for indoor cultivation. This transaction continues Schwazze’s aggressive expansion in Colorado and will enhance the Company’s cultivation capabilities, providing product directly to its dispensaries.  The consideration for the acquisition was $6.7 million and was paid in cash at closing.

“This is another step in building operational depth and capabilities in Colorado for Schwazze.  This acquisition will add a talented team of growers, high-quality indoor flower cultivation capacity, new strain genetics, and another profitable asset to our platform. The new facility will supply our growing network of dispensaries and customers with a broad assortment of high-quality indoor flower,” said Justin Dye, Schwazze’s CEO. 

Corporate Update
Late in 2021, Schwazze announced a transformational $95 million raise with institutional investors and individuals, allowing the Company to expedite its aggressive expansion plans and become a regional MSO with operations in Colorado and New Mexico.  The Company’s differentiated strategy is to build a leadership position in retail and operational depth within its operating areas.

Since December 2021, Schwazze has completed five acquisitions adding a total of 15 cannabis dispensaries, including Smoking Gun (December 2021); Drift (February 2022); Emerald Fields (February 2022); and the ten Greenleaf New Mexico dispensaries (February 2022). See Figure #1, outlining Schwazze’s dispensary assets.

Since July 2021, the Company has acquired a total of six cultivation facilities, two in Colorado including, SCG Holding LLC (July 2021); and Brow 2 LLC (February 2022) – and four licensed in New Mexico (February 2022).  The Greenleaf New Mexico acquisition also added a manufacturing asset, Elemental Kitchen & Laboratories, LLC to the Company’s Purplebee’s manufacturing plant in Colorado.

The Company continues to evaluate merger and acquisition transactions that meet our strategic screening criteria. 

About Schwazze
Schwazze (OTCQX: SHWZ) is building a premier vertically integrated regional cannabis company with assets in Colorado and New Mexico and will continue to take its operating system to other states where it can develop a differentiated regional leadership position.  Schwazze is the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale.  The Company is committed to unlocking the full potential of the cannabis plant to improve the human condition.  Schwazze is anchored by a high-performance culture that combines customer-centric thinking and data science to test, measure, and drive decisions and outcomes.  The Company’s leadership team has deep expertise in retailing, wholesaling, and building consumer brands at Fortune 500 companies as well as in the cannabis sector.  Schwazze is passionate about making a difference in our communities, promoting diversity and inclusion, and doing our part to incorporate climate-conscious best practices.  Medicine Man Technologies, Inc. was Schwazze’s former operating trade name.  The corporate entity continues to be named Medicine Man Technologies, Inc.

Schwazze derives its name from the pruning technique of a cannabis plant to enhance plant structure and promote healthy growth.

Figure #1

Figure #1 (CNW Group/Schwazze)

Forward-Looking Statements
This press release contains “forward-looking statements.” Such statements may be preceded by the words “plan,” “will,” “may,”, “predicts,” or similar words. Forward-looking statements are not guarantees of future events or performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control and cannot be predicted or quantified. Consequently, actual events and results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our products and product candidates on a commercial scale on our own or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; (v) difficulties in securing regulatory approval to market our products and product candidates; (vi) our ability to successfully execute our growth strategy in Colorado and outside the state, (vii) our ability to consummate the acquisition described in this press release or to identify and consummate future acquisitions that meet our criteria, (viii) our ability to successfully integrate acquired businesses and realize synergies therefrom, (ix) the ongoing COVID-19 pandemic, * the timing and extent of governmental stimulus programs, (xi) the uncertainty in the application of federal, state and local laws to our business, and any changes in such laws, and * out ability to satisfy the closing conditions for the private finding described in this press release. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise except as required by law.

SOURCE Schwazze

Can You Stimulate the Gene that Fights Alzheimers and Dementia

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Study Links Gene to Cognitive Resilience in the Elderly

 

Anne Trafton | MIT News Office

 

Many people develop Alzheimer’s or other forms of dementia as they get older. However, others remain sharp well into old age, even if their brains show underlying signs of neurodegeneration.

Among these cognitively resilient people, researchers have identified education level and amount of time spent on intellectually stimulating activities as factors that help prevent dementia. A new study by MIT researchers shows that this kind of enrichment appears to activate a gene family called MEF2, which controls a genetic program in the brain that promotes resistance to cognitive decline.

The researchers observed this link between MEF2 and cognitive resilience in both humans and mice. The findings suggest that enhancing the activity of MEF2 or its targets might protect against age-related dementia.

“It’s increasingly understood that there are resilience factors that can protect the function of the brain,” says Li-Huei Tsai, director of MIT’s Picower Institute for Learning and Memory. “Understanding this resilience mechanism could be helpful when we think about therapeutic interventions or prevention of cognitive decline and neurodegeneration-associated dementia.” Tsai is the senior author of the study, which appeared in Science Translational Medicine. The lead authors are recent MIT Ph.D. recipient Scarlett Barker and MIT postdoctoral fellow and Boston Children’s Hospital physician Ravikiran (Ravi) Raju.

 

Protective Effects

A large body of research suggests that environmental stimulation offers some protection against the effects of neurodegeneration. Studies have linked education level, type of job, number of languages spoken, and amount of time spent on activities such as reading and doing crossword puzzles to higher degrees of cognitive resilience.

The MIT team set out to try to figure how these environmental factors affect the brain at the neuronal level. They looked at human datasets and mouse models in parallel, and both tracks converged on MEF2 as a critical player.

MEF2 is a transcription factor that was originally identified as a factor important for cardiac muscle development but later was discovered to play a role in neuron function and neurodevelopment. In two human datasets comprising slightly more than 1,000 people altogether, the MIT team found that cognitive resilience was highly correlated with expression of MEF2 and many of the genes that it regulates.

Many of those genes encode ion channels, which control a neuron’s excitability, or how easily it fires an electrical impulse. The researchers also found, from a single-cell RNA-sequencing study of human brain cells, that MEF2 appears to be most active in a subpopulation of excitatory neurons in the prefrontal cortex of resilient individuals.

To study cognitive resilience in mice, the researchers compared mice who were raised in cages with no toys, and mice placed in a more stimulating environment with a running wheel and toys that were swapped out every few days. As they found in the human study, MEF2 was more active in the brains of the mice exposed to the enriched environment. These mice also performed better in learning and memory tasks.

When the researchers knocked out the gene for MEF2 in the frontal cortex, this blocked the mice’s ability to benefit from being raised in the enriched environment, and their neurons became abnormally excitable.

“This was particularly exciting as it suggested that MEF2 plays a role in determining overall cognitive potential in response to variables in the environment,” Raju says.

The researchers then explored whether MEF2 could reverse some of the symptoms of cognitive impairment in a mouse model that expresses a version of the tau protein that can form tangles in the brain and is linked with dementia. If these mice were engineered to overexpress MEF2 at a young age, they did not show the usual cognitive impairments produced by the tau protein later in life. In these mice, neurons overexpressing MEF2 were less excitable.

“A lot of human studies and mouse model studies of neurodegeneration have shown that the neurons become hyperexcitable in early stages of disease progression,” Raju says. “When we overexpressed MEF2 in a mouse model of neurodegeneration, we saw that it was able to prevent this hyperexcitability, which might explain why they performed cognitively better than control mice.”

 

Enhancing Resilience

 The findings suggest that enhancing MEF2 activity could help to protect against dementia; however, because MEF2 also affects other types of cells and cellular processes, more study is needed to make sure that activating it wouldn’t have adverse side effects, the researchers say.

The MIT team now hopes to further investigate how MEF2 becomes activated by exposure to an enriching environment. They also plan to examine some of the effects of the other genes that MEF2 controls, beyond the ion channels they explored in this study. Such studies could help to reveal additional targets for drug treatments.

“You could potentially imagine a more targeted therapy by identifying a subset or a class of effectors that is critically important for inducing resilience and neuroprotection,” Raju says.

 

Suggested Reading



Advancing Research into Alzheimer’s Disease with Stem Cells

Understanding Alzheimer’s, Dementia, ALS, and Neurodegenerative Diseases





The Anti-Aging and Rejuvenating Properties of Stem Cells

FDA Oncology Director Expresses Concerns Over Applicability of Chinese Data

 


 

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Release – Sierra Metals Reports Q4-2021 Financial Results at Its Sociedad Minera Corona Subsidiary in Peru

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Sierra Metals Reports Q4-2021 Financial Results at Its Sociedad Minera Corona Subsidiary in Peru

Research, News, and Market Data on Sierra Metals

 

TORONTO–(BUSINESS WIRE)– Sierra Metals Inc. (TSX:SMT, BVL:SMT, NYSE AMERICAN:SMTS) (“Sierra Metals” or the “Company”) announces the filing of Sociedad Minera Corona S.A.’s (“Corona”) unaudited Financial Statements and the Management Discussion and Analysis (“MD&A”) for the fourth quarter of 2021 (“Q4 2021”).

The Company holds an 81.8% interest in Corona. All amounts are presented in US dollars unless otherwise stated and have not been adjusted for the 18.2% non-controlling interest. Sierra Metals consolidated financial results will be released on March 16, 2022.

Corona’s Highlights for the Three Months Ended December 31, 2021

  • Revenues of $43.5 million vs. $45.2 million in Q4 2020
  • Adjusted EBITDA of $19.1 million vs. $22.5 million in Q4 2020
  • Total tonnes processed decreased by 11% to 277,531 vs. 311,946 in Q4 2020
  • Net production revenue per tonne of ore milled increased by 2% to $151.25
  • Cash cost per copper equivalent payable pound increased by 39% at $1.61 in Q4 2021
  • All-in sustaining cost (“AISC”) per copper equivalent payable increased 25% to $3.09 in Q4 2021
  • Copper equivalent production of 12.6 million pounds vs. 18.4 million pounds in Q4 2020
  • $32.9 million of cash and cash equivalents as at December 31, 2021
  • $58.8 million of working capital as at December 31,2021

Luis Marchese, CEO of Sierra Metals, commented, “Despite the reduced production this quarter, on a year over year basis, the Mine’s performance reached its throughput targets. Although grades were lower, a 12% increase in annual throughput along with higher realized metal prices and lower treatment and refining charges, resulted in a 23% increase in revenue and a 33% increase in adjusted EBITDA.

He continued, “Production at Yauricocha was halted before the quarter’s end when the Mine achieved its annual permitted throughput of 1,256,450 tonnes. An 11% decrease in quarterly production, coupled with lower grades resulted in a 4% decrease in revenue and 15% decrease in adjusted EBITDA compared to Q4 2020. In 2022 we will have the benefit of a full year of consistent production at our higher permitted rate of 3,600 tonnes per day”.

He concluded, “As we resume normalized operations and staffing, the Mine will benefit from a reduction in operating expenditures which were temporarily higher due to the COVID-19 pandemic. In addition, overall efficiencies and performance should improve. Management remains committed on this continuous improvement path and looks forward to the advancement of important projects and exploration at Yauricocha during the year.”

The following table displays selected financial information for the three months and year ended December 31, 2021:

(In thousands of US dollars, except cash cost and revenue

Three Months Ended December 31,

Twelve Months Ended December 31,
per tonne metrics)

2021

2020

Var %

2021

2020

Var %
 
Revenue $

43,490

45,238

-4%

180,598

146,941

23%
Adjusted EBITDA (1)

19,107

22,496

-15%

88,003

66,306

33%
Cash Flow from operations

19,253

23,335

-17%

83,471

64,899

29%
Gross profit

20,879

21,785

-4%

84,262

62,826

34%
Income Tax Expense

(4,506)

(5,939)

-24%

(29,319)

(21,115)

39%
Net Income

9,479

10,686

-11%

34,967

27,350

28%
 
Net production revenue per tonne of ore milled (2)

151.25

148.13

2%

142.39

131.17

9%
Cash cost per tonne of ore milled (2)

64.54

62.44

3%

61.51

57.61

7%
Cash cost per copper equivalent payable pound (2)

1.61

1.16

39%

1.46

1.01

45%
All-In Sustaining Cost per copper equivalent payable pound (2)

3.09

2.47

25%

2.77

2.11

31%
 
(In thousands of US dollars, unless otherwise stated)

December 31, 2021

December 31, 2020
 
Cash and cash equivalents $

32,870

65,027
Assets

232,868

235,263
Liabilities

66,111

53,473
Equity

166,757

181,790
 

1 Adjusted EBITDA includes adjustments for depletion and depreciation, interest expense and other financing costs, interest income, share-based compensation, Foreign Exchange (gain) loss and income taxes; see non-IFRS Performance Measures section of the Company’s MD&A.

2 Cash cost per copper equivalent payable pound and All-In Sustaining Cost per copper equivalent pound sold are non-IFRS performance measures and include cost of sales, treatment and refining charges, sustaining capital expenditures, general and administrative expense, and selling expense, and exclude workers’ profit sharing, depreciation, and other non-cash provisions; Cash cost per copper equivalent pound sold, net production revenue per tonne of ore milled, and cash cost per tonne of ore milled are non-IFRS performance measures; see non-IFRS Performance Measures section of the Company’s MD&A.

Corona’s Financial Highlights for the Three Months and Year Ended December 31, 2021

  • Revenue of $43.5 million for Q4 2021, lower than the revenue of $45.2 million for the same quarter of 2020 mainly due to lower throughput and grades. Revenue of $180.6 million for the twelve-month period ended December 31, 2021 compared to $146.9 million for the same period of 2020. Annual revenue increased 23% due to combined impact of higher realized metal prices and 22% decrease in treatment and refining charges, which more than compensated for lower quantities of metal sales compared to 2020.
  • Adjusted EBITDA of $19.1 million for Q4 2021 compared to $22.5 million for Q4 2020 and $88.0 million for the year ended December 31, 2021, compared to $66.3 million for the same period in 2020. The increase in adjusted EBITDA for the full year 2021 was driven mainly by the higher contribution per tonne of ore processed, attributable to higher metal prices as compared to 2020.
  • Operating cash flows before movements in working capital was $19.3 million for Q4 2021, compared to $23.3 million for Q4 2020, and $83.5 million for the year ended December 31, 2021, compared to $64.9 million for the same period in 2020. The increase in operating cash flows resulted from the afore-mentioned improved gross margins due to higher realized metal prices compared to 2020.
  • Cash and cash equivalents of $32.9 million as at December 31, 2021, compared to $65.0 million as at December 31, 2020. The decrease in cash and cash equivalents resulted from cash used in investing activities $37.9 million, payment of dividends of $49.9 million and intercompany advances of $5.0 million offset by operating cash flows of $60.7 million (after movement in working capital).
  • Net income of $9.5 million, or $0.27 per share for Q4 2021, compared to net income of $10.7 million, or $0.30 per share for Q4 2020. Net income of $35.0 million, or $0.97 per share, for the year ended December 31, 2021, compared to $27.4 million, or $0.76 per share, for the same period in 2020.

Corona’s Operational Highlights for the Three Months and Year Ended December 31, 2021

The following table displays the production results for the three months and year ended December 31, 2021. For further production details please refer the Company’s Q4 production press release dated January 24, 2022:

Yauricocha Production

Three Months Ended December 31,

Twelve Months Ended December 31,

2021

2020

% Var.

2021

2020

% Var.
 
Tonnes processed

277,531

311,946

-11%

1,256,847

1,117,860

12%
Daily throughput

3,172

3,565

-11%

3,591

3,194

12%
 
 
Silver grade (g/t)

51.34

53.74

-4%

55.01

61.55

-11%
Copper grade

0.82%

0.95%

-14%

0.74%

1.08%

-31%
Lead grade

1.03%

1.15%

-10%

1.18%

1.45%

-19%
Zinc grade

2.82%

3.59%

-21%

3.23%

3.77%

-14%
Gold Grade (g/t)

0.53

0.57

-7%

0.48

0.61

-21%
 
Silver recovery

72.26%

79.80%

-9%

77.21%

81.53%

-5%
Copper recovery

76.44%

72.69%

5%

72.92%

74.20%

-2%
Lead recovery

86.55%

88.82%

-3%

88.76%

88.63%

0%
Zinc recovery

86.53%

87.62%

-1%

88.59%

88.13%

1%
Gold Recovery

20.24%

19.34%

5%

21.03%

19.72%

7%
 
 
Silver production (000 oz)

331

430

-23%

1,716

1,803

-5%
Copper production (000 lb)

3,836

4,759

-19%

14,856

19,726

-25%
Lead production (000 lb)

5,430

7,040

-23%

29,113

31,605

-8%
Zinc production (000 lb)

14,913

21,612

-31%

79,281

81,868

-3%
Gold Production (oz)

957

1,112

-14%

4,059

4,292

-5%
 
 
Copper equivalent pounds (000’s)(1)

12,567

18,373

-32%

59,470

75,079

-21%
 

(1) Copper equivalent pounds for Q4 2021 were calculated using the following realized prices: $23.41/oz Ag, $4.40/lb Cu, $1.55/lb Zn, $1.06/lb Pb, $1,795/oz Au. Copper equivalent pounds for Q4 2020 were calculated using the following realized prices: $24.30/oz Ag, $3.32/lb Cu, $1.22/lb Zn, $0.89/lb Pb, $1,859/oz Au. Copper equivalent pounds for full year 2021 were calculated using the following realized prices: $25.21/oz Ag, $4.23/lb Cu, $1.37/lb Zn, $1.00/lb Pb, $1,796/oz Au. Copper equivalent pounds for full year 2020 were calculated using the following realized prices: $20.59/oz Ag, $2.80/lb Cu, $1.03/lb Zn, $0.83/lb Pb, $1,771/oz Au.

  • The Yauricocha mine processed 277,531 tons during Q4 2021, a decrease of 11% compared to Q4 2020, as mine operations were halted a few days before year-end to avoid exceeding the maximum permitted capacity1 for 2021. It may be noted that the mine operated at a high throughput for the first nine months of the year, which resulted in attaining the maximum annual permitted capacity before the end of the year.
  • Yauricocha’s annual throughput was 1,256,847 tonnes, representing an increase of 12% as compared to the 2020 annual production. While the mine’s operational flexibility allowed for an increase in the throughput, accessing higher targeted grades remained a challenge throughout the year. The negative variations in the polymetallic ore resulted from the regulatory limitations to access some of the high-grade ore bodies. Also, copper sulfide grades were lower mainly due to the delays in the contribution of the Esperanza body due to ground conditions, which were controlled and corrected.
  • Although higher throughput partially compensated for lower grades, metal production declined. Year over year copper equivalent production decreased 21% in 2021 compared to the prior year. 2021 annual production of silver, copper, lead, zinc and gold declined by 5%, 25%, 8%, 3% and 5% respectively compared to 2020 annual production.
  • Cash cost per copper equivalent payable pounds of $1.61 for Q4 2021 compared to $1.16 for Q4 2020, due to the 28% decrease in copper equivalent pounds sold in Q4 2021 compared to the same quarter of 2020. For the twelve-month period ended December 31, 2021, cash costs per copper equivalent payable pound increased to $1.46 from $1.01 for the same period in 2020. The annual increase in cash costs was a combined result of higher operating costs, mainly related to additional contractors at higher costs, and the 21% decrease in copper equivalent pounds sold as compared to the year 2020.
  • All-in sustaining cost (“AISC”) per copper equivalent payable pound of $3.09 for Q4 2021 compared to $2.47 for Q4 2020 and $2.77 for the year ended December 31, 2021, compared to $2.11 for the same period in 2020. The increase in the AISC per copper equivalent payable pound for Q4 2021 and full year 2021 compared to the same periods in 2020 was a combined result of higher cash costs and sustaining capital expenditure, offset by the anticipated decrease in treatment and refining charges during 2021.

1. Maximum annual capacity of 1,256,850 tonnes calculated using permitted capacity of 3,000 tpd until June 15, 2021 and 3,600 thereafter on receipt of permit.

Sierra Metals to release Q4/YE 2021 Financial Results on March 16, 2022

The Company will release Q4-2021 financial results on Wednesday March 16, 2022, after the Market close. Senior Management will also host a webcast and conference call on Thursday March 17, 2022, at 10:30am EDT. Details of the Conference Call and Webcast are as follows:

Via Webcast:

A live audio webcast of the meeting will be available on the Company’s website. Please register at:

https://event.on24.com/wcc/r/3574382/FCCE4F2A0F9D10DD9ADA273BDF220BF7

The webcast, along with presentation slides, will be archived for 180 days on www.sierrametals.com.

Via phone:

For those who prefer to listen by phone, dial-in instructions are below. To ensure your participation, please call approximately five minutes prior to the scheduled start time of the call.

US/CAN dial-in number (Toll Free): 1 844 200 6205
US dial-in number (Local): 1 646 904 5544
Canada dial-in number (Local): 1 226 828 7575
All other locations: +1 929 526 1599
Participant access code: 017137

Press *1 to ask a question, *2 to withdraw your question, or *0 for operator assistance.

Quality Control

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

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

About Sierra Metals

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

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

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

Continue to Follow, Like and Watch our progress:

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

Forward-Looking Statements

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of Canadian and U.S. securities laws (collectively, “forward-looking information”). Forward-looking information includes, but is not limited to, statements with respect to the date of the 2021 Shareholders’ Meeting and the anticipated filing of the Compensation Disclosure. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “potential” or variations thereof, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information.

Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the risks described under the heading “Risk Factors” in the Company’s annual information form dated March 18, 2021 for its fiscal year ended December 31, 2020 and other risks identified in the Company’s filings with Canadian securities regulators and the United States Securities and Exchange Commission, which filings are available at www.sedar.com and www.sec.gov, respectively.

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

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

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

Source: Sierra Metals Inc.

Release – Schwazze Closes Acquisition Of Colorado Cultivation Grower Brow 2 LLC

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Schwazze Closes Acquisition Of Colorado Cultivation Grower Brow 2, LLC

Research, News, and Market Data on Schwazze

 

Additional Indoor Grow Acquisition Increases Cultivation Capacity
Company Continues to Execute Growth Strategy Through Acquisitions

DENVER, Feb. 16, 2022 /CNW/ – Schwazze, (OTCQX: SHWZ) (“Schwazze” or the “Company”), announced today that it has closed the transaction to acquire the assets of Brow 2, LLC, located in Denver, Colorado.  The planned transaction includes a 37,000 square foot building and equipment designed for indoor cultivation. This transaction continues Schwazze’s aggressive expansion in Colorado and will enhance the Company’s cultivation capabilities, providing product directly to its dispensaries.  The consideration for the acquisition was $6.7 million and was paid in cash at closing.

“This is another step in building operational depth and capabilities in Colorado for Schwazze.  This acquisition will add a talented team of growers, high-quality indoor flower cultivation capacity, new strain genetics, and another profitable asset to our platform. The new facility will supply our growing network of dispensaries and customers with a broad assortment of high-quality indoor flower,” said Justin Dye, Schwazze’s CEO. 

Corporate Update
Late in 2021, Schwazze announced a transformational $95 million raise with institutional investors and individuals, allowing the Company to expedite its aggressive expansion plans and become a regional MSO with operations in Colorado and New Mexico.  The Company’s differentiated strategy is to build a leadership position in retail and operational depth within its operating areas.

Since December 2021, Schwazze has completed five acquisitions adding a total of 15 cannabis dispensaries, including Smoking Gun (December 2021); Drift (February 2022); Emerald Fields (February 2022); and the ten Greenleaf New Mexico dispensaries (February 2022). See Figure #1, outlining Schwazze’s dispensary assets.

Since July 2021, the Company has acquired a total of six cultivation facilities, two in Colorado including, SCG Holding LLC (July 2021); and Brow 2 LLC (February 2022) – and four licensed in New Mexico (February 2022).  The Greenleaf New Mexico acquisition also added a manufacturing asset, Elemental Kitchen & Laboratories, LLC to the Company’s Purplebee’s manufacturing plant in Colorado.

The Company continues to evaluate merger and acquisition transactions that meet our strategic screening criteria. 

About Schwazze
Schwazze (OTCQX: SHWZ) is building a premier vertically integrated regional cannabis company with assets in Colorado and New Mexico and will continue to take its operating system to other states where it can develop a differentiated regional leadership position.  Schwazze is the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale.  The Company is committed to unlocking the full potential of the cannabis plant to improve the human condition.  Schwazze is anchored by a high-performance culture that combines customer-centric thinking and data science to test, measure, and drive decisions and outcomes.  The Company’s leadership team has deep expertise in retailing, wholesaling, and building consumer brands at Fortune 500 companies as well as in the cannabis sector.  Schwazze is passionate about making a difference in our communities, promoting diversity and inclusion, and doing our part to incorporate climate-conscious best practices.  Medicine Man Technologies, Inc. was Schwazze’s former operating trade name.  The corporate entity continues to be named Medicine Man Technologies, Inc.

Schwazze derives its name from the pruning technique of a cannabis plant to enhance plant structure and promote healthy growth.

Figure #1

Figure #1 (CNW Group/Schwazze)

Forward-Looking Statements
This press release contains “forward-looking statements.” Such statements may be preceded by the words “plan,” “will,” “may,”, “predicts,” or similar words. Forward-looking statements are not guarantees of future events or performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control and cannot be predicted or quantified. Consequently, actual events and results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our products and product candidates on a commercial scale on our own or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; (v) difficulties in securing regulatory approval to market our products and product candidates; (vi) our ability to successfully execute our growth strategy in Colorado and outside the state, (vii) our ability to consummate the acquisition described in this press release or to identify and consummate future acquisitions that meet our criteria, (viii) our ability to successfully integrate acquired businesses and realize synergies therefrom, (ix) the ongoing COVID-19 pandemic, * the timing and extent of governmental stimulus programs, (xi) the uncertainty in the application of federal, state and local laws to our business, and any changes in such laws, and * out ability to satisfy the closing conditions for the private finding described in this press release. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise except as required by law.

SOURCE Schwazze

Release – Kelly Declares Quarterly Dividend

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Kelly® Declares Quarterly Dividend

Research, News, and Market Data on Kelly

 

TROY, Mich., 
Feb. 16, 2022 /PRNewswire/ — Kelly® (Nasdaq: KELYA, KELYB), a leading specialty talent solutions provider, today announced that its Board of Directors has declared a quarterly dividend of 
$0.05 per share on Kelly Services Class A and Class B common stock. The dividend is payable 
March 14, 2022 to shareholders of record at the close of business on 
February 28, 2022.

About Kelly®

Kelly Services, Inc. (Nasdaq: KELYA, KELYB) connects talented people to companies in need of their skills in areas including Science, Engineering, Education, Office, Contact Center, 
Light Industrial, and more. We’re always thinking about what’s next in the evolving world of work, and we help people ditch the script on old ways of thinking and embrace the value of all workstyles in the workplace. We directly employ more than 350,000 people around the world, and we connect thousands more with work through our global network of talent suppliers and partners in our outsourcing and consulting practice. Revenue in 2021 was 
$4.9 billion. Visit kellyservices.com and let us help with what’s next for you.

KLYA-FIN

ANALYST & MEDIA CONTACT:
James Polehna
(248) 244-4586
james_polehna@kellyservices.com

SOURCE 
Kelly Services, Inc.

Kelly® Declares Quarterly Dividend

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Kelly® Declares Quarterly Dividend

Research, News, and Market Data on Kelly

 

TROY, Mich., 
Feb. 16, 2022 /PRNewswire/ — Kelly® (Nasdaq: KELYA, KELYB), a leading specialty talent solutions provider, today announced that its Board of Directors has declared a quarterly dividend of 
$0.05 per share on Kelly Services Class A and Class B common stock. The dividend is payable 
March 14, 2022 to shareholders of record at the close of business on 
February 28, 2022.

About Kelly®

Kelly Services, Inc. (Nasdaq: KELYA, KELYB) connects talented people to companies in need of their skills in areas including Science, Engineering, Education, Office, Contact Center, 
Light Industrial, and more. We’re always thinking about what’s next in the evolving world of work, and we help people ditch the script on old ways of thinking and embrace the value of all workstyles in the workplace. We directly employ more than 350,000 people around the world, and we connect thousands more with work through our global network of talent suppliers and partners in our outsourcing and consulting practice. Revenue in 2021 was 
$4.9 billion. Visit kellyservices.com and let us help with what’s next for you.

KLYA-FIN

ANALYST & MEDIA CONTACT:
James Polehna
(248) 244-4586
james_polehna@kellyservices.com

SOURCE 
Kelly Services, Inc.

Sierra Metals Reports Q4-2021 Financial Results at Its Sociedad Minera Corona Subsidiary in Peru

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Sierra Metals Reports Q4-2021 Financial Results at Its Sociedad Minera Corona Subsidiary in Peru

Research, News, and Market Data on Sierra Metals

 

TORONTO–(BUSINESS WIRE)– Sierra Metals Inc. (TSX:SMT, BVL:SMT, NYSE AMERICAN:SMTS) (“Sierra Metals” or the “Company”) announces the filing of Sociedad Minera Corona S.A.’s (“Corona”) unaudited Financial Statements and the Management Discussion and Analysis (“MD&A”) for the fourth quarter of 2021 (“Q4 2021”).

The Company holds an 81.8% interest in Corona. All amounts are presented in US dollars unless otherwise stated and have not been adjusted for the 18.2% non-controlling interest. Sierra Metals consolidated financial results will be released on March 16, 2022.

Corona’s Highlights for the Three Months Ended December 31, 2021

  • Revenues of $43.5 million vs. $45.2 million in Q4 2020
  • Adjusted EBITDA of $19.1 million vs. $22.5 million in Q4 2020
  • Total tonnes processed decreased by 11% to 277,531 vs. 311,946 in Q4 2020
  • Net production revenue per tonne of ore milled increased by 2% to $151.25
  • Cash cost per copper equivalent payable pound increased by 39% at $1.61 in Q4 2021
  • All-in sustaining cost (“AISC”) per copper equivalent payable increased 25% to $3.09 in Q4 2021
  • Copper equivalent production of 12.6 million pounds vs. 18.4 million pounds in Q4 2020
  • $32.9 million of cash and cash equivalents as at December 31, 2021
  • $58.8 million of working capital as at December 31,2021

Luis Marchese, CEO of Sierra Metals, commented, “Despite the reduced production this quarter, on a year over year basis, the Mine’s performance reached its throughput targets. Although grades were lower, a 12% increase in annual throughput along with higher realized metal prices and lower treatment and refining charges, resulted in a 23% increase in revenue and a 33% increase in adjusted EBITDA.

He continued, “Production at Yauricocha was halted before the quarter’s end when the Mine achieved its annual permitted throughput of 1,256,450 tonnes. An 11% decrease in quarterly production, coupled with lower grades resulted in a 4% decrease in revenue and 15% decrease in adjusted EBITDA compared to Q4 2020. In 2022 we will have the benefit of a full year of consistent production at our higher permitted rate of 3,600 tonnes per day”.

He concluded, “As we resume normalized operations and staffing, the Mine will benefit from a reduction in operating expenditures which were temporarily higher due to the COVID-19 pandemic. In addition, overall efficiencies and performance should improve. Management remains committed on this continuous improvement path and looks forward to the advancement of important projects and exploration at Yauricocha during the year.”

The following table displays selected financial information for the three months and year ended December 31, 2021:

(In thousands of US dollars, except cash cost and revenue

Three Months Ended December 31,

Twelve Months Ended December 31,
per tonne metrics)

2021

2020

Var %

2021

2020

Var %
 
Revenue $

43,490

45,238

-4%

180,598

146,941

23%
Adjusted EBITDA (1)

19,107

22,496

-15%

88,003

66,306

33%
Cash Flow from operations

19,253

23,335

-17%

83,471

64,899

29%
Gross profit

20,879

21,785

-4%

84,262

62,826

34%
Income Tax Expense

(4,506)

(5,939)

-24%

(29,319)

(21,115)

39%
Net Income

9,479

10,686

-11%

34,967

27,350

28%
 
Net production revenue per tonne of ore milled (2)

151.25

148.13

2%

142.39

131.17

9%
Cash cost per tonne of ore milled (2)

64.54

62.44

3%

61.51

57.61

7%
Cash cost per copper equivalent payable pound (2)

1.61

1.16

39%

1.46

1.01

45%
All-In Sustaining Cost per copper equivalent payable pound (2)

3.09

2.47

25%

2.77

2.11

31%
 
(In thousands of US dollars, unless otherwise stated)

December 31, 2021

December 31, 2020
 
Cash and cash equivalents $

32,870

65,027
Assets

232,868

235,263
Liabilities

66,111

53,473
Equity

166,757

181,790
 

1 Adjusted EBITDA includes adjustments for depletion and depreciation, interest expense and other financing costs, interest income, share-based compensation, Foreign Exchange (gain) loss and income taxes; see non-IFRS Performance Measures section of the Company’s MD&A.

2 Cash cost per copper equivalent payable pound and All-In Sustaining Cost per copper equivalent pound sold are non-IFRS performance measures and include cost of sales, treatment and refining charges, sustaining capital expenditures, general and administrative expense, and selling expense, and exclude workers’ profit sharing, depreciation, and other non-cash provisions; Cash cost per copper equivalent pound sold, net production revenue per tonne of ore milled, and cash cost per tonne of ore milled are non-IFRS performance measures; see non-IFRS Performance Measures section of the Company’s MD&A.

Corona’s Financial Highlights for the Three Months and Year Ended December 31, 2021

  • Revenue of $43.5 million for Q4 2021, lower than the revenue of $45.2 million for the same quarter of 2020 mainly due to lower throughput and grades. Revenue of $180.6 million for the twelve-month period ended December 31, 2021 compared to $146.9 million for the same period of 2020. Annual revenue increased 23% due to combined impact of higher realized metal prices and 22% decrease in treatment and refining charges, which more than compensated for lower quantities of metal sales compared to 2020.
  • Adjusted EBITDA of $19.1 million for Q4 2021 compared to $22.5 million for Q4 2020 and $88.0 million for the year ended December 31, 2021, compared to $66.3 million for the same period in 2020. The increase in adjusted EBITDA for the full year 2021 was driven mainly by the higher contribution per tonne of ore processed, attributable to higher metal prices as compared to 2020.
  • Operating cash flows before movements in working capital was $19.3 million for Q4 2021, compared to $23.3 million for Q4 2020, and $83.5 million for the year ended December 31, 2021, compared to $64.9 million for the same period in 2020. The increase in operating cash flows resulted from the afore-mentioned improved gross margins due to higher realized metal prices compared to 2020.
  • Cash and cash equivalents of $32.9 million as at December 31, 2021, compared to $65.0 million as at December 31, 2020. The decrease in cash and cash equivalents resulted from cash used in investing activities $37.9 million, payment of dividends of $49.9 million and intercompany advances of $5.0 million offset by operating cash flows of $60.7 million (after movement in working capital).
  • Net income of $9.5 million, or $0.27 per share for Q4 2021, compared to net income of $10.7 million, or $0.30 per share for Q4 2020. Net income of $35.0 million, or $0.97 per share, for the year ended December 31, 2021, compared to $27.4 million, or $0.76 per share, for the same period in 2020.

Corona’s Operational Highlights for the Three Months and Year Ended December 31, 2021

The following table displays the production results for the three months and year ended December 31, 2021. For further production details please refer the Company’s Q4 production press release dated January 24, 2022:

Yauricocha Production

Three Months Ended December 31,

Twelve Months Ended December 31,

2021

2020

% Var.

2021

2020

% Var.
 
Tonnes processed

277,531

311,946

-11%

1,256,847

1,117,860

12%
Daily throughput

3,172

3,565

-11%

3,591

3,194

12%
 
 
Silver grade (g/t)

51.34

53.74

-4%

55.01

61.55

-11%
Copper grade

0.82%

0.95%

-14%

0.74%

1.08%

-31%
Lead grade

1.03%

1.15%

-10%

1.18%

1.45%

-19%
Zinc grade

2.82%

3.59%

-21%

3.23%

3.77%

-14%
Gold Grade (g/t)

0.53

0.57

-7%

0.48

0.61

-21%
 
Silver recovery

72.26%

79.80%

-9%

77.21%

81.53%

-5%
Copper recovery

76.44%

72.69%

5%

72.92%

74.20%

-2%
Lead recovery

86.55%

88.82%

-3%

88.76%

88.63%

0%
Zinc recovery

86.53%

87.62%

-1%

88.59%

88.13%

1%
Gold Recovery

20.24%

19.34%

5%

21.03%

19.72%

7%
 
 
Silver production (000 oz)

331

430

-23%

1,716

1,803

-5%
Copper production (000 lb)

3,836

4,759

-19%

14,856

19,726

-25%
Lead production (000 lb)

5,430

7,040

-23%

29,113

31,605

-8%
Zinc production (000 lb)

14,913

21,612

-31%

79,281

81,868

-3%
Gold Production (oz)

957

1,112

-14%

4,059

4,292

-5%
 
 
Copper equivalent pounds (000’s)(1)

12,567

18,373

-32%

59,470

75,079

-21%
 

(1) Copper equivalent pounds for Q4 2021 were calculated using the following realized prices: $23.41/oz Ag, $4.40/lb Cu, $1.55/lb Zn, $1.06/lb Pb, $1,795/oz Au. Copper equivalent pounds for Q4 2020 were calculated using the following realized prices: $24.30/oz Ag, $3.32/lb Cu, $1.22/lb Zn, $0.89/lb Pb, $1,859/oz Au. Copper equivalent pounds for full year 2021 were calculated using the following realized prices: $25.21/oz Ag, $4.23/lb Cu, $1.37/lb Zn, $1.00/lb Pb, $1,796/oz Au. Copper equivalent pounds for full year 2020 were calculated using the following realized prices: $20.59/oz Ag, $2.80/lb Cu, $1.03/lb Zn, $0.83/lb Pb, $1,771/oz Au.

  • The Yauricocha mine processed 277,531 tons during Q4 2021, a decrease of 11% compared to Q4 2020, as mine operations were halted a few days before year-end to avoid exceeding the maximum permitted capacity1 for 2021. It may be noted that the mine operated at a high throughput for the first nine months of the year, which resulted in attaining the maximum annual permitted capacity before the end of the year.
  • Yauricocha’s annual throughput was 1,256,847 tonnes, representing an increase of 12% as compared to the 2020 annual production. While the mine’s operational flexibility allowed for an increase in the throughput, accessing higher targeted grades remained a challenge throughout the year. The negative variations in the polymetallic ore resulted from the regulatory limitations to access some of the high-grade ore bodies. Also, copper sulfide grades were lower mainly due to the delays in the contribution of the Esperanza body due to ground conditions, which were controlled and corrected.
  • Although higher throughput partially compensated for lower grades, metal production declined. Year over year copper equivalent production decreased 21% in 2021 compared to the prior year. 2021 annual production of silver, copper, lead, zinc and gold declined by 5%, 25%, 8%, 3% and 5% respectively compared to 2020 annual production.
  • Cash cost per copper equivalent payable pounds of $1.61 for Q4 2021 compared to $1.16 for Q4 2020, due to the 28% decrease in copper equivalent pounds sold in Q4 2021 compared to the same quarter of 2020. For the twelve-month period ended December 31, 2021, cash costs per copper equivalent payable pound increased to $1.46 from $1.01 for the same period in 2020. The annual increase in cash costs was a combined result of higher operating costs, mainly related to additional contractors at higher costs, and the 21% decrease in copper equivalent pounds sold as compared to the year 2020.
  • All-in sustaining cost (“AISC”) per copper equivalent payable pound of $3.09 for Q4 2021 compared to $2.47 for Q4 2020 and $2.77 for the year ended December 31, 2021, compared to $2.11 for the same period in 2020. The increase in the AISC per copper equivalent payable pound for Q4 2021 and full year 2021 compared to the same periods in 2020 was a combined result of higher cash costs and sustaining capital expenditure, offset by the anticipated decrease in treatment and refining charges during 2021.

1. Maximum annual capacity of 1,256,850 tonnes calculated using permitted capacity of 3,000 tpd until June 15, 2021 and 3,600 thereafter on receipt of permit.

Sierra Metals to release Q4/YE 2021 Financial Results on March 16, 2022

The Company will release Q4-2021 financial results on Wednesday March 16, 2022, after the Market close. Senior Management will also host a webcast and conference call on Thursday March 17, 2022, at 10:30am EDT. Details of the Conference Call and Webcast are as follows:

Via Webcast:

A live audio webcast of the meeting will be available on the Company’s website. Please register at:

https://event.on24.com/wcc/r/3574382/FCCE4F2A0F9D10DD9ADA273BDF220BF7

The webcast, along with presentation slides, will be archived for 180 days on www.sierrametals.com.

Via phone:

For those who prefer to listen by phone, dial-in instructions are below. To ensure your participation, please call approximately five minutes prior to the scheduled start time of the call.

US/CAN dial-in number (Toll Free): 1 844 200 6205
US dial-in number (Local): 1 646 904 5544
Canada dial-in number (Local): 1 226 828 7575
All other locations: +1 929 526 1599
Participant access code: 017137

Press *1 to ask a question, *2 to withdraw your question, or *0 for operator assistance.

Quality Control

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

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

About Sierra Metals

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

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

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

Continue to Follow, Like and Watch our progress:

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

Forward-Looking Statements

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of Canadian and U.S. securities laws (collectively, “forward-looking information”). Forward-looking information includes, but is not limited to, statements with respect to the date of the 2021 Shareholders’ Meeting and the anticipated filing of the Compensation Disclosure. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “potential” or variations thereof, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information.

Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the risks described under the heading “Risk Factors” in the Company’s annual information form dated March 18, 2021 for its fiscal year ended December 31, 2020 and other risks identified in the Company’s filings with Canadian securities regulators and the United States Securities and Exchange Commission, which filings are available at www.sedar.com and www.sec.gov, respectively.

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

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

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

Source: Sierra Metals Inc.

Release – Aurania Signs New Access Agreement and Provides Update on Operations

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Aurania Signs New Access Agreement and Provides Update on Operations

Research, News, and Market Data on Aurania Resources

 

Toronto, Ontario, February 15, 2022 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) (“Aurania” or the “Company”) announces that an important access agreement has been signed with the community of “Kim” at its Lost Cities-Cutucu project in southeastern Ecuador and provides an update on operations.

The Company yesterday signed an access agreement with the community of “Kim”, in the southern part of the block of concessions.  This is the first time the Company has been granted access to this important area.   At the community meeting there were a large number of artisanal gold miners.  The Kim community is located near where Metron (see press release dated September 26, 2019) forecasted the potential position of one of the “Lost Cities”.

Metron Inc. of Reston, Virginia, USA, used Bayesian data analysis to generate probability maps of the position of “Logroño de los Caballeros”, a gold mining settlement that was founded circa 1562 by the Spanish conquistadors, and abandoned circa 1605.  The location has been lost.  Numerous expeditions have been carried out over the intervening years to relocate it.  Metron incorporated historical documents, and clues from geography and geology into a “search matrix”, and then through statistical algorithms produced a map with statistical likelihoods the settlement would be in specific areas.  Kim will be a focus of work going forward.

Ms. Carolina Lasso Amaya has replaced the former Head of Corporate Social Responsibility for Aurania.  Ms. Lasso has been the Director of the Step Forward Foundation (Dar el Paso Adelante) in Ecuador for over two years and has extensive knowledge of the communities in the Cordillera de Cutucu.  Her first act has been to successfully negotiate access to Kim.

Prior to joining the Foundation in 2019, Ms. Lasso worked from 2011 to 2017 for the Ministry of Foreign Affairs in Colombia, primarily working in the border areas of Amazonia with indigenous groups.  During this period, she also dealt with elements of the FARC, the Colombian Paramilitaries, cocaine growers, persons recruiting child soldiers and other difficult and potentially dangerous groups.  She developed post-conflict models to integrate communities into the social fabric.  During her time with the Foundation, she has initiated a number of clean water projects, nutritional projects, and the extremely popular “Warastai” soccer tournament between villages.  Such activities are important in gaining and maintaining social license to operate with Aurania’s stakeholders.  Ms. Lasso is an Ecuadorian resident and is fluent in both English and Spanish.

The number of daily new COVID-19 infected cases in the Province of Morona-Santiago where Aurania’s Project is located has now dropped in half from a month ago.  The Red Alert in Ecuador has not yet been lifted but there is optimism the pandemic is abating.

 

About Aurania

Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on precious metals and copper in South America.  Its flagship asset, The Lost Cities – Cutucu Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.

Information on Aurania and technical reports are available at www.aurania.com and www.sedar.com, as well as on Facebook at https://www.facebook.com/auranialtd/, Twitter at  https://twitter.com/auranialtd, and LinkedIn at https://www.linkedin.com/company/aurania-resources-ltd-.

For further information, please contact:

Carolyn Muir

VP Investor Relations

Aurania Resources Ltd.

(416) 367-3200

carolyn.muir@aurania.com

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

 

Forward-Looking Statements

This news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Aurania. Forward-looking statements include estimates and statements that describe Aurania’s future plans, objectives or goals, including words to the effect that Aurania or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Aurania, Aurania provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to Aurania’s objectives, goals or future plans, statements, exploration results, potential mineralization, the corporation’s portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, the effects of COVID-19 on the business of the Company including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restrictions on labour and international travel and supply chains, and those risks set out in Aurania’s public documents filed on SEDAR. Although Aurania believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Aurania disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Release – Motorsport Games Announces Next Gen Car For Nascar 21 Ignition

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Motorsport Games Announces Next Gen Car For Nascar 21: Ignition

Research, News, and Market Data on Motorsport Games

 

UPDATE ARRIVES AHEAD OF THE SEASON KICKOFF AT THE DAYTONA 500, WHERE LIVE FAST MOTORSPORTS WILL RACE WITH A NASCAR 21: IGNITION PAINT SCHEME

MIAMI, Feb. 15, 2022 (GLOBE NEWSWIRE) — Motorsport Games Inc. (NASDAQ: MSGM) (“Motorsport Games”), a leading racing game developer, publisher and esports ecosystem provider of official motorsport racing series throughout the world, announces today the addition of NASCAR’s Next Gen car to NASCAR 21: Ignition, the officially licensed  video game of the world’s most popular stock car racing series. The Next Gen car update will be available starting Thursday, February 17, 2022 within a new “Test Drive mode” for players on all platforms (PlayStation, Xbox and PC).

The Next Gen car update arrives just in time for the start of the 2022 NASCAR regular season and its first race – the Daytona 500 – scheduled to be held Sunday, February 20, 2022. With the Next Gen cars being the most highly anticipated change coming to NASCAR this year, Motorsport Games has been working on implementing the car into NASCAR 21: Ignition since its launch to ensure that players will have authentic representation of the sport in its most current state. Players can look forward to driving the No. 78 Live Fast Motorsports Next Gen Ford Mustang test car in-game within the all-new Test Drive mode, getting a handle on the new car for the first time.

“Our development team couldn’t be happier about adding Next Gen cars to the current iteration of Ignition, especially prior to the kickoff of the 2022 NASCAR season,” said George Holmquist, Vice President of Publishing and Marketing at Motorsport Games. “We have shared in the excitement of our players and NASCAR fans with this highly anticipated game addition. We made sure to recreate the Next Gen car as close to its real-life counterpart as possible and we can’t wait for everyone to get acclimated with driving the newest stock car in-game, just like the drivers will be throughout the year.”

Not only will users at home get to use the Next Gen cars in-game, but attendees of the Daytona 500 race weekend will have the opportunity to test drive the Next Gen car at the eNASCAR Arcade on site. Players will be able to drive the car around the iconic Daytona International Speedway prior to the showcase event on race day. Motorsport Games representatives will be on hand to assist players and answer questions about the newest update.

In addition, fans can look forward to kicking off the 2022 NASCAR season with a Free Play Weekend of NASCAR 21: Ignition, available on the Xbox platform from February 17 – 20, 2022. The game comes complete with a number of modes, such as Race Now, Online Multiplayer and the brand new Paint Booth. NASCAR 21: Ignition contains all drivers, teams and tracks from the 2021 NASCAR Cup Series season and is accessible for players of all skill levels.

The Daytona 500 weekend will also see Live Fast Motorsports kick off the second year of its partnership with Motorsport Games by racing with a NASCAR 21: Ignition and Xbox-themed scheme on its No. 78 Ford Mustang. This marks the first of seven select races this season that B.J. McLeod’s No. 78 car will feature a Motorsport Games-inspired livery. Additionally, McLeod will race with a custom-designed Motorsport Games helmet and the Live Fast Motorsports pit crew will wear Motorsport Games branded fire suits throughout the season.

To purchase NASCAR 21: Ignition, please visit the PlayStation Store, Xbox Store and Steam.

To keep up with the latest Motorsport Game news visit www.motorsportgames.com and follow on Twitter, Instagram, Facebook and LinkedIn.

About Motorsport Games:
Motorsport Games, a Motorsport Network company, combines innovative and engaging video games with exciting esports competitions and content for racing fans and gamers around the globe. The Company is the officially licensed video game developer and publisher for iconic motorsport racing series across PC, PlayStation, Xbox, Nintendo Switch and mobile, including NASCAR, INDYCAR, 24 Hours of Le Mans and the British Touring Car Championship (“BTCC”). Motorsport Games is an award-winning esports partner of choice for 24 Hours of Le Mans, Formula E, BTCC, the FIA World Rallycross Championship and the eNASCAR Heat Pro League, among others.

Forward-Looking Statements:
Certain statements in this press release which are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are provided pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as “continue,” “will,” “may,” “could,” “should,” “expect,” “expected,” “plans,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, but are not limited to, statements concerning the Company’s expectations regarding the future impact of new or planned products, features, offerings or events, and the timing of launching such products, features, offerings or events. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Motorsport Games and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to the Company experiencing difficulties and/or delays in enhancing the quality of its product offerings that could negatively impact its future development plans, such as due to difficulties or delays in launching new products, higher than anticipated costs incurred in developing, launching and continuing to enhance and improve such products and/or less than anticipated consumer acceptance of the Company’s products and/or difficulties, delays in or unanticipated events that may impact the timing and scope of new product launches, such as due to delays and higher than anticipated expenses related to the ongoing and prolonged COVID-19 pandemic and related economic lockdowns and government mandates; unanticipated operating costs, transaction costs and actual or contingent liabilities; adverse effects of increased competition; and unanticipated changes in consumer behavior, including as a result of general economic factors, such as increased inflation. Factors other than those referred to above could also cause Motorsport Games’ results to differ materially from expected results. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Motorsport Games and are difficult to predict. Factors other than those referred to above could also cause Motorsport Games’ results to differ materially from expected results. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in Motorsport Games’ filings with the SEC, which may be found at www.sec.gov and at ir.motorsportgames.com, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2020, its Quarterly Reports on Form 10-Q filed with the SEC during 2021, as well as in its subsequent filings with the SEC. Motorsport Games anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Motorsport Games assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Motorsport Games’ plans and expectations as of any subsequent date. Additionally, the business and financial materials and any other statement or disclosure on, or made available through, Motorsport Games’ website or other websites referenced or linked to this press release shall not be incorporated by reference into this press release.

Website and Social Media Disclosure:
Investors and others should note that we announce material financial information to our investors using our investor relations website (ir.motorsportgames.com), SEC filings, press releases, public conference calls and webcasts. We use these channels, as well as social media and blogs, to communicate with our investors and the public about our company and our products. It is possible that the information we post on our websites, social media and blogs could be deemed to be material information. Therefore, we encourage investors, the media and others interested in our company to review the information we post on the websites, social media channels and blogs, including the following (which list we will update from time to time on our investor relations website):

Websites Social Media
motorsportgames.com Twitter:@msportgames & @traxiongg
traxion.gg Instagram: msportgames & traxiongg
motorsport.com Facebook: Motorsport Games & traxiongg
  LinkedIn: Motorsport Games
  Twitch: traxiongg
  Reddit: traxiongg

The contents of these websites and social media channels are not part of, nor will they be incorporated by reference into, this press release.

Investors:
Ashley DeSimone
Ashley.Desimone@icrinc.com

Press:
Motorsport Games PR
press@motorsportgames.com

Michael Burrys Stock Market Holdings Filed Feb 14, 2022

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  Image Credit: Livewire


Michael Burry’s Public Investments in SPACs, Prisons, and Electric Hogs

 

NEW Filing: Michael Burry’s Stock Market Holdings (Filed May 16, 2022)

On February 14, Michael Burry filed his company’s holdings report with the SEC.  Relative to the previous quarter there was a little reshuffling of his positions. While many fund managers and successful investors such as Cathie Wood are talking about their ideas several times a week in the news, Burry is more quiet. A good way to understand Burry’s thinking and Scion Asset Management’s direction is to review changes to his 13F holdings. Or, hope for a rare
tweet.

Below we list all of Scion’s public company purchases and sales then provide information so you may drill down even deeper into Burry’s small and microcap holdings.  

 

 

Why it Matters

No one would disagree that Burry’s investment universe is broader than the average self-directed investor and even deeper than the average hedge fund manager.  With this in mind, out of the entire universe of publicly held corporations he could hold, there are only six that Burry’s portfolio owned at the end of the fourth quarter. One is a SPAC that is merging with an electric vehicle (EV) company. Two are small-cap holdings Scion had owned the previous quarter – Burry lightened up on one position and added to another. Three new large-cap purchases that round out the rest of the holdings span the defense, finance, and pharmaceutical industries.

Holdings Top to Bottom

Scion’s largest holding is Bristol-Myers Squibb (BMY). BMY had a market value on filing date of $18.7M, Scion’s position represents .014% of the company. The large pharmaceutical company was added last quarter while holdings in drug retailer CVS were brought to zero during the quarter.

Insurance company Fidelity National Financial, Inc. (FNF) provides various insurance products in the US with a large focus on real estate-related products. This includes title insurance, escrow, and other title-related services. FNF also provides technology and transaction services to the real estate and mortgage industries. Plus, life insurance products including annuities. The company had a market value on the filing date
of $16.96M, Scion’s position represents .114% of the company.

General Dynamics Corporation (GD) is a large U.S. aerospace and defense contractor. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. GD had a market value on the filing date of $16.68, Scion’s position represents .287% of the company. Scion’s position in defense contractor Lockheed Martin (LMT) was brought to zero during the quarter.

On Dec. 13, 2021 Harley-Davidson, Inc. (HOG), announced that AEA-Bridges Impact Corp. (IMPX), a special purpose acquisition company or SPAC with a focus on sustainability, entered into a definitive business combination agreement under which they will combine with LiveWire. LiveWire which will trade under ticker LVW is Harley-Davidson’s electric motorcycle division. The deal will create a new publicly-traded company. Michael Burry added this SPAC to Scion’s holdings. As of year-end, Scion owned 2.50% of the special purpose company or $9.99M.

The GEO Group (GEO) is a correctional facility that specializes in the ownership, leasing, and management of correctional, detention, and reentry facilities. The market value of Scion’s position was $6.69 million at quarter-end, which represented 6.94% of the company’s market value. Burry rebalanced this position which was carried over from the previous quarter as he reduced his holdings by 26%.

CoreCivic (CXW) is a publicly owned prison system that was trading as a REIT up until January 2021, it now trades as a Regular C-Corporation. Scion took a position during the third quarter of last year and apparently added to it. Burry’s quarter-end $5.54M position represents .46% of the company. During the quarter Burry increased the share of the company his fund holds by .34%.

 

Take-Away

Dr. Burry has an excellent record of spotting investment opportunities before the rest of the market catches up. His picks are as disparate as the mortgage market in 2008 and GameStop (GME) in 2020.

Recent research (GEO, CXW), and recorded interviews with management (CXW), and other small/microcap companies are available and regularly updated on Channelchek. Channelchek also closely follows and reports on the SPAC market with SPACtrac coverage and informative articles.

Sign-up to receive updates in your inbox.

 

Suggested Reading



One Great Protection Inherent in SPACs for Investors

Michael Burry’s Investments in Health, Bombs, and Bars





EV SPAC Activity Accelerated in 2021

Analysis of a SPAC

 

Sources

https://investor.harley-davidson.com/news-releases/news-release-details/livewire-become-first-publicly-traded-ev-motorcycle-company-us

https://investor.harley-davidson.com/news-releases/news-release-details/livewire-become-first-publicly-traded-ev-motorcycle-company-us

https://whalewisdom.com/filer/scion-asset-management-llc#tabholdings_tab_link

https://13f.info/manager/0001649339-scion-asset-management-llc

https://www.corecivic.com/

https://www.geogroup.com/

 

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