cpatches, Author at Channelchek

Release – Stream Hatchet, a GameSquare Company, Announces Partnership with Gaming Powerhouse Bungie

Posted on December 11, 2023December 11, 2023 by cpatches

December 11, 2023

GameSquare’s SaaS solutions to enable Bungie to elevate its content and creator programs

FRISCO, TX / ACCESSWIRE / December 11, 2023 / Stream Hatchet, a GameSquare company (“GameSquare”, or the “Company”) (NASDAQ:GAME)(TSXV:GAME), proudly announces an innovative partnership with Bungie, a leading force in the game publishing world. Bungie will utilize Stream Hatchet’s advanced analytics capabilities to gain profound insights into audience engagement across live streaming and social media platforms. The partnership includes the influencer CRM capabilities of Sideqik, also a GameSquare company, to seamlessly scale and manage Bungie’s creator and affiliate programs.

Justin Kenna, CEO of GameSquare, stated: “Our collaboration with Bungie marks a significant milestone for Stream Hatchet and Sideqik as we benefit from the complementary nature of their offerings. We’re thrilled to empower Bungie with the data and insights that are needed to elevate engagement with the gaming community. We are excited to work with Bungie and support their innovative content and experiences.”

Bungie, renowned for creating iconic franchises like Destiny and Marathon, will use GameSquare’s SaaS based tools to develop a data-driven approach that will empower Bungie to fine-tune their content delivery strategies and enhance their connection with the gaming community. Furthermore, Stream Hatchet enables Bungie to strategically plan and benchmark content and title releases against competitors, ensuring each launch captures the attention of the gaming community to reach its full potential.

About GameSquare Holdings, Inc.

GameSquare is a vertically integrated, digital media, entertainment and technology company that connects global brands with gaming and youth culture audiences. GAME’s end-to-end platform includes GCN, a digital media company focused on gaming and esports audiences, Cut+Sew (Zoned), a gaming and lifestyle marketing agency, USA, Code Red Esports Ltd., a UK based esports talent agency, Complexity Gaming, a leading esports organization, Fourth Frame Studios, a creative production studio, Mission Supply, a merchandise and consumer products business, Frankly Media, programmatic advertising, Stream Hatchet, live streaming analytics, and Sideqik a social influencer marketing platform.

For more information, visit www.gamesquare.com.

Forward-Looking Information

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian and United States securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to the closing of the proposed transaction, the Company’s future performance and revenue; the Company’s ability to execute its business plan; and the proposed use of net proceeds of the transaction. These forward-looking statements are provided only to provide information currently available to us and are not intended to serve as and must not be relied on by any investor as, a guarantee, assurance or definitive statement of fact or probability. Forward-looking statements are necessarily based upon a number of estimates and assumptions which include, but are not limited to: the Company being able to grow its business and being able to execute on its business plan, the Company being able to complete and successfully integrate acquisitions, the Company being able to recognize and capitalize on opportunities and the Company continuing to attract qualified personnel to supports its development requirements. These assumptions, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the Company’s ability to achieve its objectives, the Company successfully executing its growth strategy, the ability of the Company to obtain future financings or complete offerings on acceptable terms, failure to leverage the Company’s portfolio across entertainment and media platforms, dependence on the Company’s key personnel and general business, economic, competitive, political and social uncertainties including impact of the COVID-19 pandemic and any variants. These risk factors are not intended to represent a complete list of the factors that could affect the Company which are discussed in the Company’s most recent MD&A. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. GameSquare assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

Neither 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.

Corporate Contact

Lou Schwartz, President
Phone: (216) 464-6400
Email: ir@gamesquare.com

Investor Relations

Andrew Berger
Phone: (216) 464-6400
Email: ir@gamesquare.com

Media Relations

Chelsey Northern / The Untold
Phone: (254) 855-4028
Email: pr@gamesquare.com

SOURCE: GameSquare Holdings, Inc.

Release – Century Lithium Reports Progress At Its Lithium Extraction Facility In Nevada

Posted on December 11, 2023December 11, 2023 by cpatches

Research, News, and Market Data on CYDVF

December 11, 2023 – Vancouver, Canada – Century Lithium Corp. (TSXV: LCE) (OTCQX: CYDVF) (Frankfurt: C1Z) (“Century Lithium” or “the Company”) is pleased to report progress and further developments at its Lithium Extraction Facility (“Pilot Plant”) in Amargosa Valley, Nevada.

Highlights

Further process improvements implemented at the Pilot Plant, resulting in lithium grades consistently exceeding 14 grams/liter in the intermediate solutions produced (up from 7.5 grams/liter reported in August 2023)
Pilot Plant tests ongoing completing 23 months of safe operation
Work with Koch Technology Solutions LLC (“KTS”) on direct lithium extraction (“DLE”) is ongoing; delivering repeatable results and exceeding expectations
KTS to complete commercial design of a DLE installation for the Project in January 2024

On August 9, 2023, the Company reported achieving an increase of lithium grades in the intermediate solutions produced at the Pilot Plant to the highest levels to date, with an average grade of 7.5 grams/liter lithium. This increase in concentration was attributed to the integration of Koch Technology Solutions Li-Pro^TM equipment into the DLE area. In mid-August, the Company added an osmotically assisted reverse osmosis (“OARO”) unit downstream of the DLE area. (Description of the process can be found at the Company’s technology partner Saltworks’ website: OARO—Saltworks Announces Osmotically Assisted RO Tech | Saltworks Technologies). With the OARO unit in operation at the Pilot Plant, Century has consistently achieved lithium grades exceeding 14 grams/liter in its intermediate solutions, accompanied by significantly reduced levels of impurities.

Century’s collaboration with KTS continued to produce exceptional results within the DLE area of the Pilot Plant. With nearly 3,000 operating cycles of the equipment completed since its installation in April 2023, results have exceeded target levels for both lithium extraction and rejection of impurities from leach solutions. With these positive results, the Company anticipates KTS completing its commercial design of a DLE installation for the Project in January 2024.

Century’s team continues to innovate and improve its process flowsheet for the Project through testing equipment, reagents, and alternate configurations of its flowsheet at the Pilot Plant. This work will continue into the coming year as the Pilot Plant generates data to support and further de-risk the Project and addresses recommendations identified during the Feasibility Study.

Qualified Person

Todd Fayram, MMSA-QP and Senior Vice President, Metallurgy of Century Lithium is the qualified person as defined by National Instrument 43-101 and has approved the technical information in this release.

About Century Lithium Corp.

Century Lithium Corp. (formerly Cypress Development Corp.) is an advanced stage lithium company, focused on developing its 100%-owned Clayton Valley Lithium Project in west-central Nevada, USA. Century Lithium is currently in the pilot stage of testing on material from its lithium-bearing claystone deposit at its Lithium Extraction Facility in Amargosa Valley, Nevada and progressing towards completing a Feasibility Study and permitting, with the goal of becoming a domestic producer of lithium for the growing electric vehicle and battery storage market.

ON BEHALF OF CENTURY LITHIUM CORP.
WILLIAM WILLOUGHBY, PhD., PE
President & Chief Executive Officer

For further information, please contact:
Spiros Cacos | Vice President, Investor Relations
Direct: +1 604 764 1851
Toll Free: 1 800 567 8181
scacos@centurylithium.com
centurylithium.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Cautionary Note Regarding Forward-Looking Statements

This release includes certain statements that may be deemed to be “forward-looking statements”. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “expects,” “estimates,” “projects,” “anticipates,” “believes,” “could,” “scheduled,” and other similar words. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration, and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

Release – 10,000 L/day DLE Pilot Plant Ships to LithiumBank’s Calgary Facility

Posted on December 11, 2023December 11, 2023 by cpatches

Research, News, and Market Data on LBNKF

Calgary, Alberta. December 11, 2023 – LithiumBank Resources Corp. (TSX-V: LBNK) (OTCQX: LBNKF) (“LithiumBank” or the “Company”) is pleased to announce that the G2L Greenview Resources Inc. (“G2L”) Direct Lithium Extraction (DLE) pilot plant is now in transit to LithiumBank’s Calgary facility. Once completed, the facility will have capacity to process up to 10,000 L/d of brine and yield up to 3 kg/d LCE. Commencing in early 2024, several piloting campaigns are planned as the Boardwalk Project advances into its feasibility studies phase of development. The Company also anticipates that the facility will accelerate the development of the Company’s Park Place, Estevan, South, and Kindersley properties.

The pilot plant has been constructed in Australia by Clean TeQ Water on the behalf of G2L and is based on G2L’s Continuous Direct Lithium Extraction (cDLE®) technology. As seen in recent testwork results (Reported Nov. 22, 2023), the cDLE^® process utilizes an ion exchange material (sorbent) designed to selectively extract lithium from the brine while rejecting most contaminants. In the context of the Boardwalk Project, the configuration of the pilot adsorption and elution stages has been purposefully designed to maximize extraction of lithium from the brine. Similarly, the selectivity of the sorbent and elution chemistry allows strong rejection of typical impurities in the brine such as sodium, calcium and chloride. This results in a clean, lithium-rich concentrate suitable for further refining.

At the facility in Calgary, the cDLE® process will demonstrate the cost and process advantages of using common industrial reagents such as quicklime and sulfuric acid. The operating cost benefits of this change in reagent suite will be quantified in an updated Boardwalk Project Preliminary Economic Assessment. Senior process engineers from G2L will head up the installation of the pilot and the first 100 hours of processing. G2L will continue to lend support throughout the entire piloting program which is intended to last up to 18 months following the first 100 hours of operation.

With a processing capacity of up to 10,000 L/d of brine, the Calgary facility will represent one of the largest DLE pilot plants in North America. The pilot plant represents an approximate 1:5,000 scale to the future, commercial production modules which is consistent with scale-up factors used in other hydrometallurgical processes. Within the pilot plant, sufficiently large ion exchange equipment has been installed to permit direct scale-up of these process steps to the commercial plant, accelerating the Boardwalk Project development.

During operation, the pilot plant will be targeting one of the industry’s highest lithium recoveries. This is seen as achievable for the Boardwalk project given the project’s careful staging of adsorption and elution contactors, along with the characteristics of the sorbent. Specifically, experiences from industrial ion exchange processes used for the recovery of precious (gold) and energy (uranium) metals have been leveraged in formulating the Boardwalk DLE flowsheet. This formulation included a trade-off assessment of lithium recovery and capital cost which was undertaken for the purposes of the upcoming updated PEA. As a result, the pilot plant will assess the performance of five contactor stages with results to follow in the PEA.

*Figure 1: LithiumBank’s pilot plant as shown in G2L’s manufacturing facility in Melbourne, Australia, prior to shipment.*

Furthermore, G2L’s experience in pilot testing of continuous ion exchange for recovery of other metals, including nickel and cobalt, at a similar scale in similar pilot equipment, provides confidence that recovery using counter-current adsorption contactors can be predicted from laboratory scale test work.

The cDLE^® pilot plant in transit is a variation of a pilot plant that was designed and constructed by the Clean TeQ Water technical team to extract nickel and cobalt by ion exchange from acid leached lateritic ore in the Sunrise Energy Metals project. The plant was run over several campaigns and the data were subsequently used for a Bankable Feasibility Study (BFS) on the production of battery-grade nickel and cobalt sulfates. The Boardwalk Project cDLE^® plant uses the same basic configuration, with critical design changes incorporated to ensure maximum lithium extraction from the brine, and the production of a high purity eluate containing a high lithium concentration.

A video showing the cDLE® pilot plant prior to shipping to Calgary can be viewed below:

About LithiumBank Resources Corp.

LithiumBank Resources Corp. (TSX-V: LBNK) (OTCQX: LBNKF), is a publicly traded lithium company that is focused on developing its two flagship projects, Boardwalk and Park Place, in Western Canada. The Company holds 2,480,196 acres of brownfield & exploration lithium brine permits, across 3 districts in Alberta and Saskatchewan. In May 2023, LithiumBank completed an initial robust preliminary economic assessment of its Boardwalk project that targets a 31,350 TPA operation with a pre-tax USD $2.7B NPV and a 21.6% IRR with the potential for a number of near term enhancements. The Company will continue to de- risk its assets through detailed geological modelling and advanced engineering.

For more information see the Company’s Boardwalk Lithium Brine Project Preliminary Economic Assessment Technical report entitled “Preliminary Economic Assessment (PEA) for LithiumBank Resources Boardwalk Lithium-Brine Project in West- Central Alberta, Canada” effectively dated June 16, 2023 filed on SEDAR+ (www.sedarplus.ca) on June 23, 2023 and on the Company’s website (www.lithiumbank.ca).

Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no guarantee that all or any part of the mineral resource will be converted into a mineral reserve. The estimate of mineral resources may be materially affected by geology, environment, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. A preliminary economic assessment is preliminary in nature as it includes a portion of inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized.

About G2L Greenview Resources Inc.

Go2Lithium Inc. was formed in early 2023 as a 50/50 joint venture with Computational Geosciences Inc (CGI), a subsidiary of the Robert Friedland-chaired Ivanhoe Electric Inc. (NYSE:IE) and Clean TeQ Water (ASX:CNQ). Please see Clean TeQ’s case studies for additional information on their suite of water treatment and metal extraction technologies.

The scientific and technical disclosure in this news release has been reviewed and approved by Mr. Kevin Piepgrass (Chief Operations Officer, LithiumBank Resources Corp.), who is a Member of the Association of Professional Engineers and Geoscientists of Alberta (APEGA) and the Association of Professional Engineers and Geoscientists of the Province of British Columbia (APEGBC) and is a Qualified Person (QP) for the purposes of National Instrument 43-101. Mr. Piepgrass consents to the inclusion of the data in the form and context in which it appears.

Contact:
LithiumBank
Rob Shewchuk
CEO & Director
rob@lithiumbank.ca
(778) 987-9767

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.

Cautionary Statement Regarding Forward Looking Statements

This press release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including without limitation, statements regarding the completion of the Offering and the timing thereof, and the anticipated use of proceeds of the Offering are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should” or “would” or occur. Forward-looking statements are based on certain material assumptions and analyses made by the Company and the opinions and estimates of management as of the date of this press release, including, but not limited to, that the Company will complete the Offering on the terms disclosed, that the Company will receive all necessary regulatory approvals for the Offering, that the Company will use the proceeds of the Offering as currently anticipated; and assumptions relating to the state of the financial markets for the Company’s securities. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation, market volatility, unanticipated costs, changes in applicable regulations, and changes in the Company’s business plans. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.

Comtech Telecommunications (CMTL) – Momentum Continues to Build

Posted on December 11, 2023December 11, 2023 by cpatches

Monday, December 11, 2023

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

Joe Gomes, Managing Director, Equity Research Analyst, Generalist , 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.

Momentum. The first quarter of fiscal 2024 was Comtech’s eighth consecutive quarter of sequential revenue increase and the second quarter of positive operating income, a substantial improvement, in our view. Net bookings were $185.6 million for a book-to-bill of 1.22x. Revenue visibility is now $1.7 billion, up from a prior $1.1 billion.

1Q24 Results. Revenue totaled $151.9 million, up 2.1% sequentially, within guidance. Y-o-Y revenue was up 15.8%. We were at $151 million. Adjusted EBITDA totaled $18.4 million, versus $10.7 million in 1Q23. We were at $17.1 million. Comtech reported a net loss of $3.3 million, or a loss of $0.11 per share, compared to a net loss of $12.8 million, or $0.46 per share last year. Adjusted EPS was $0.24 versus $0.16. We had forecast a net loss of $2.1 million, or a loss of $0.07 per share and adjusted EPS of $0.22.

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

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

DLH Holdings (DLHC) – Fourth Quarter In-Line

Posted on December 11, 2023December 11, 2023 by cpatches

Monday, December 11, 2023

DLH delivers improved health and readiness solutions for federal programs through research, development, and innovative care processes. The Company’s experts in public health, performance evaluation, and health operations solve the complex problems faced by civilian and military customers alike, leveraging digital transformation, artificial intelligence, advanced analytics, cloud-based applications, telehealth systems, and more. With over 2,300 employees dedicated to the idea that “Your Mission is Our Passion,” DLH brings a unique combination of government sector experience, proven methodology, and unwavering commitment to public health to improve the lives of millions. For more information, visit www.DLHcorp.com.

Joe Gomes, Managing Director, Equity Research Analyst, Generalist , 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.

4Q Results. Revenue of $101.5 million was slightly above management’s revised guidance of $100 million, and up from $67.2 million in 4Q22. While the majority of the revenue increase was due to GRSi, which contributed $33.1 million, the Company did see organic growth. Due to the expected $7.7 million non-cash impairment charge, DLH reported a net loss of $2.6 million, or $0.18/sh compared to net income of $3.4 million, or EPS of $0.24/sh in 4Q22.

Non-GAAP. On a non-GAAP basis, DLH reported adjusted operating income of $7.8 million, adjusted EBITDA of $12.1 million, and adjusted net income of $2.3 million, or $0.16/sh in 4Q23, compared to $5.1 million, $7.0 million, and $3.7 million, or EPS of $0.26/sh, respectively, last year.

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

Vera Bradley (VRA) – Third Quarter Fiscal 2024 Results Mixed

Posted on December 11, 2023December 11, 2023 by cpatches

Monday, December 11, 2023

Joe Gomes, Managing Director, Equity Research Analyst, Generalist , 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.

3QFY24. Net revenue of $114.9 million, compared to $124.0 million in 3Q23, and below our estimate of $124 million. Gross margin improved to 54.8%, up 190 basis points y-o-y. Net income of $5.1 million, or $0.16/sh ($0.19/sh adjusted) compared to net income of $5.2 million, or $0.17/sh (adjusted of $0.20). We had forecasted net income of $4.5 million, or $0.14/sh.

Segments. VB Direct segment revenues totaled $72.3 million, a 9.7% decrease y-o-y. Comparable sales declined 8.2% in the third quarter, primarily driven by weakness in the outlet channel. VB Indirect segment revenues totaled $25.0 million, a 12.0% increase y-o-y, reflecting a significant one-time key account order in 3Q24. Pura Vida revenues totaled $17.7 million, an 18.3% decrease y-o-y, reflecting a decline in sales to wholesale accounts and a decline in ecommerce sales.

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

Occidental Petroleum Expands Presence in Permian Basin with $12 Billion CrownRock Acquisition

Posted on December 11, 2023December 11, 2023 by cpatches

In a strategic move to bolster its presence in the prolific Permian Basin, Occidental Petroleum has reached an agreement to acquire CrownRock for a staggering $12 billion. This significant deal, part of a broader consolidation trend in the U.S. energy sector, positions Occidental to fortify its standing as the ninth-largest energy company in the U.S.

CrownRock, a major privately held energy producer operating in the Permian Basin, is currently developing a 100,000-acre position in the Midland Basin, a crucial segment spanning 20 counties in western Texas. The Midland Basin, contributing 15% of U.S. crude production in 2020, is a key focus for Occidental’s goal to increase its scale in the Permian.

The transaction is set to add a substantial 170,000 barrels of oil equivalent per day to Occidental’s production capabilities. Furthermore, with 1,700 undeveloped locations in the Permian, the deal positions Occidental for strategic expansion in a region vital to the nation’s energy landscape.

To finance this significant acquisition, Occidental plans to issue $9.1 billion in new debt, complemented by approximately $1.7 billion in common stock. Despite these financial obligations, Occidental remains committed to its goal of reducing its overall debt to below $15 billion, showcasing confidence in the long-term benefits of the CrownRock acquisition.

This move comes amidst a flurry of major deals in the energy sector, with ExxonMobil announcing a $60 billion acquisition of Pioneer Natural Resources and Chevron taking over Hess for $53 billion in recent months. Occidental’s acquisition of CrownRock underscores the ongoing consolidation trend, particularly in the Permian Basin, the largest oil-producing region in the U.S.

Occidental’s CEO, Vicki Hollub, emphasized the company’s dedication to managing its financial commitments. Despite a 10% drop in Occidental’s stock year-to-date, the acquisition of CrownRock marks the third major deal in the energy sector within a span of two months, highlighting Occidental’s determination to adapt and grow in a rapidly evolving industry.

Berkshire Hathaway, a major holder with about 26% of Occidental’s shares, was not involved in this particular deal. Occidental’s ticker symbol is OXY, and the company anticipates finalizing the CrownRock acquisition in the first quarter of 2024, adding another chapter to its dynamic expansion strategy.

This acquisition is a pivotal moment for Occidental Petroleum as it continues to navigate the evolving energy landscape, strategically positioning itself for future success in the Permian Basin.

Occidental Petroleum Corporation (NYSE: OXY), commonly known as Occidental, has a storied history dating back to its founding in 1920. Established in California, the company evolved from a small oil production venture into one of the largest independent oil and gas exploration and production companies globally. Over the years, Occidental has played a pivotal role in the energy industry, engaging in diverse operations such as oil and gas exploration, production, refining, and marketing. Known for its innovative technologies and strategic acquisitions, Occidental has expanded its reach across the Americas, the Middle East, and North Africa. The company’s commitment to responsible and sustainable energy practices aligns with its pursuit of operational excellence. As the ninth-largest energy company in the U.S., Occidental continues to navigate the dynamic energy landscape, adapting to industry trends and solidifying its position through strategic acquisitions, such as the recent $12 billion CrownRock deal, which reflects its dedication to growth and resilience in an ever-evolving market.

Explore other emerging growth energy companies on Noble Capital Markets’ Senior Analyst Michael Heim’s coverage list

Cigna and Humana Merger Unravels Amid Price Disputes, Cigna to Pursue Share Buyback

Posted on December 11, 2023December 11, 2023 by cpatches

Cigna has reportedly withdrawn from a significant merger with Humana, citing failed negotiations on pricing as the primary reason, according to insider sources. The deal, if successful, would have propelled the combined entity’s value beyond $140 billion, positioning it as a major player in the insurance sector. The potential mega-deal would have undoubtedly faced scrutiny from regulators, especially in light of regulatory blocks on similar consolidations in the health insurance sector six years ago. Cigna, undeterred by the merger setback, has announced plans to repurchase $10 billion worth of shares, a move deemed by management as a value-enhancing use of capital given their belief that Cigna shares are currently undervalued.

Connecticut-based Cigna, whose shares rose 12.1% to $290.07 in premarket trading on Monday, is down approximately 22% this year, experiencing a 10% decline since late November when reports of the deal talks with Humana surfaced. The company remains open to the prospect of a future merger with Humana, asserting confidence in the deal’s regulatory feasibility despite the Biden administration’s stringent stance on mergers.

Both Cigna and Humana are significant players in the health insurance sector, each with distinct operations. Cigna, a global health service company, has a diversified portfolio covering insurance, pharmacy benefits, behavioral health, and related services. The company’s strategic decision to explore the sale of its Medicare Advantage business, which caters to government health insurance for individuals aged 65 and older, indicates ongoing efforts to refine its business focus.

On the other hand, Humana, a prominent health and well-being company, specializes in health insurance and wellness solutions. The potential merger with Cigna would have endowed the combined entity with increased scale, positioning it as a formidable competitor against larger U.S. health insurance players such as UnitedHealth Group and CVS Health.

As Cigna navigates the aftermath of the abandoned merger, the company’s shift towards share buybacks and potential bolt-on acquisitions aligning with its strategies reflects a strategic realignment. The health insurance landscape remains dynamic, and Cigna’s future moves, including a possible revisiting of a Humana combination, will undoubtedly shape the trajectory of both companies in this ever-evolving sector.

Get to know a selection of emerging growth biotechs by exploring Noble Capital Markets’ Senior Analyst Robert LeBoyer’s coverage list.

Macy’s Receives $5.8 Billion Buyout Offer, Sparks Increased Investor Interest

Posted on December 11, 2023December 11, 2023 by cpatches

Arkhouse Management and Brigade Capital Management Extend a $5.8 Billion Lifeline to Struggling Macy’s Inc.

In a bold move to rescue the iconic retailer, Arkhouse Management and Brigade Capital Management have proposed a buyout offer of $5.8 billion for Macy’s Inc. This strategic move comes at a time when Macy’s has faced a challenging year, with slumping sales and increasing competition from online retailers.

The buyout offer values Macy’s at $21 per share, a significant premium compared to its recent close at just over $17 per share. Macy’s shares closed at a little over $17 on Friday, representing a 17% decline since the beginning of the year. However, the market responded positively to the news, with a 15% increase in premarket trading on Monday.

Despite the retailer’s efforts to revitalize its brick-and-mortar stores, Macy’s sales have seen a 7% year-over-year decline in the third quarter. The struggle against online competitors and changing consumer preferences has made Macy’s an attractive acquisition target for Arkhouse and Brigade.

Arkhouse, primarily focused on real estate investment, and Brigade Capital, an asset management firm, have expressed their willingness to consider a higher bid after conducting due diligence on Macy’s. This signals their confidence in the potential for a successful turnaround.

Macy’s, with 722 store locations across 43 states, Washington, DC, Puerto Rico, and Guam, has faced challenges for decades. The rise of online giants like Amazon and the dominance of big-box retailers such as Walmart and Target have eroded Macy’s market share. The company’s annual profit and sales forecast was revised in June after a slowdown in customer demand, prompting a candid acknowledgment from Macy’s CEO Jeff Gennette.

“The US consumer, particularly at Macy’s, pulled back more than we anticipated,” Gennette stated on an earnings call. Customers “reallocated” spending to food, essentials, and services, he added.

This acquisition bid follows a similar trend in the retail sector, as evidenced by Kohl’s facing takeover offers in 2022. The challenging economic landscape, marked by volatile interest rates and high inflation, has affected retailers across the board. While online spending proved robust during Black Friday and Cyber Monday, uncertainties remain about the strength of the holiday season, especially after several retailers issued cautious fourth-quarter outlooks.

As Macy’s evaluates the proposal, the retail landscape awaits the potential transformation that Arkhouse Management and Brigade Capital Management could bring to this iconic brand.

Defense Metals Corp. (DFMTF) – Observations from the Phase II Pit Geotechnical Drilling Program

Posted on December 8, 2023December 8, 2023 by cpatches

Friday, December 08, 2023

Defense Metals Corp. is a mineral exploration and development company focused on the acquisition, exploration and development of mineral deposits containing metals and elements commonly used in the electric power market, defense industry, national security sector and in the production of green energy technologies, such as, rare earths magnets used in wind turbines and in permanent magnet motors for electric vehicles. Defense Metals owns 100% of the Wicheeda Rare Earth Element Property located near Prince George, British Columbia, Canada. Defense Metals Corp. trades in Canada under the symbol “DEFN” on the TSX Venture Exchange, in the United States, under “DFMTF” on the OTCQB and in Germany on the Frankfurt Exchange under “35D”.

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

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

Phase II drilling program. Defense Metals completed Phase II open pit diamond core and sonic infrastructure geotechnical drilling. The program consisted of six diamond drill holes totaling 1,182 meters within the Wicheeda rare earth element (REE) deposit pit shell, inclusive of four open pit geochemical drill holes totaling 920 meters, and two near-mine exploration holes totaling 262 meters. Nine sonic overburden drill holes, and 14 test pits designed to help characterize the soil subsurface and bedrock foundations of future waste rock storage, contact water pond, crusher, processing plant, and tailings storage facility locations were also completed. A final Phase 3 drilling program will entail 10 sonic overburden drill holes and three test pits.

Successful outcomes. South and west pit wall drill holes WI23-81 and WI23-82 intersected significant widths of visibly REE mineralized dolomite carbonatite. Hole WI23-82 drilled into the west pit wall of the Wicheeda Deposit tested a new ground radiometric anomaly. Assay results are pending.

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

Government Solutions Industry Report: Reacting to the Surge

Posted on November 17, 2023November 17, 2023 by cpatches

Friday, November 17, 2022

Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

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

Refer to the bottom of the report for important disclosures

More Funding? In testimony before the U.S. Senate Committee on Appropriations, U.S. Department of Homeland Security Secretary Mayorkas expounded on the Biden Administration’s $8.7 billion supplemental funding request for DHS to cover projected shortfalls, enhance enforcement, and hire additional personnel.

More Beds. One of the key items was increased surge capacity of up to 46,500 ICE detention beds. Recall, the current budgeted amount is 34,000 beds, although the most recent ICE report indicates nearly 37,000 beds were being used as of October 3rd and press reports indicate the current number is closer to 40,000. Additional funding for transportation and the Alternatives to Detention (ATD) program also was requested.

Surge Continues. In October 240,988 people were encountered at the Southwest border, up from 231,529 a year ago and down only modestly from the 269,735 encountered in September. For all of fiscal 2023, there were 2,475,669 border encounters. We would note, in his testimony, Secretary Mayorkas stated that since May 12th, or approximately 6 months, 336,000 individuals have been removed or returned, a fraction of the nearly 1.3 million encounters since then, not to mention the historic numbers prior. And, recall, encounters only represent a portion of total border crossings.

What Does It Mean for CXW and GEO. Assuming the funding is passed, it will have a positive impact on CoreCivic (CXW) and The GEO Group (GEO), at least in the short-term. With CXW and GEO receiving roughly one-third each of new detainees any increase in the overall number of detainees should positively impact operating results, especially given that as of the end of the third quarter, both companies had the majority of their respective ICE facilities at or above the guaranteed minimum level. If the increased number of beds is sticky, it is possible ICE will seek additional facility capacity, potentially enabling CXW and/or GEO to restart a currently idled facility. Finally, any increase in the use of the ISAP program will benefit GEO.

Research reports on companies mentioned in this report are available by clicking below:

CoreCivic (CXW)

The GEO Group (GEO)

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ANALYST CREDENTIALS, PROFESSIONAL DESIGNATIONS, AND EXPERIENCE

Senior Equity Analyst focusing on Basic Materials & Mining. 20 years of experience in equity research. BA in Business Administration from Westminster College. MBA with a Finance concentration from the University of Missouri. MA in International Affairs from Washington University in St. Louis.
Named WSJ ‘Best on the Street’ Analyst and Forbes/StarMine’s “Best Brokerage Analyst.”
FINRA licenses 7, 24, 63, 87

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NobleCon19 Welcomes Seeking Alpha as a Sponsor

Posted on November 10, 2023November 28, 2023 by cpatches

BOCA RATON, Fla., Nov. 09, 2023 (GLOBE NEWSWIRE) — via InvestorWire — Noble Capital Markets, Inc. (“Noble”) today announces that Seeking Alpha (https://seekingalpha.com/), the world’s leading investing community, will be a prominent sponsor at NobleCon19 (NobleCon19.com), Noble’s 19th Annual Emerging Growth Equity Conference, to be held at Florida Atlantic University, College of Business, Executive Education, Dec. 3-5, 2023, in Boca Raton, Florida. NobleCon19 will feature 200 public company executives, corporate presentations, breakouts, 1×1 meetings with qualified attendees, provocative panels, and a keynote fireside chat featuring the 43rd President of the United States, George W. Bush, moderated by Noble’s Director of Research, Michael Kupinski.

As a sponsor, Seeking Alpha will play a significant role in enhancing the conference experience for attendees. Participants can look forward to engaging discussions, expert insights, and valuable networking opportunities facilitated by Seeking Alpha’s presence. The company’s participation underscores its dedication to empowering investors with high-quality, actionable research and analysis. As part of the sponsorship, Steven Cress, Seeking Alpha’s Head of Quantitative Strategies, will dive deeper into Seeking Alpha’s Quant System and its top picks for 2024, in a presentation preceding the George W. Bush keynote.

“We are thrilled to have Seeking Alpha on board as a sponsor for NobleCon19,” said Nico P. Pronk, CEO of Noble Capital Markets, the host of NobleCon19. “Their research and analysis tools and resources for the investment community align perfectly with the objectives of our conference. We believe their involvement will enhance the overall event, providing attendees with valuable perspectives and knowledge.”

During the conference, Seeking Alpha representatives will be available at their booth, which will also be the official NobleCon19 coffee station, to interact with attendees, demonstrate their platform’s capabilities, and discuss the latest trends in investment research. Attendees are encouraged to visit the Seeking Alpha booth to learn more about their innovative solutions and how they can benefit individual investors, financial professionals and institutions alike.

“We are excited to sponsor NobleCon19 and engage with industry experts, investors and thought leaders,” said Mayer Reich, Vice President of Marketing at Seeking Alpha. “This conference represents an excellent opportunity for us to connect with our community and share insights. We look forward to productive discussions and meaningful interactions throughout the event.”

To register to attend NobleCon19: NobleCon19.com. To receive NobleCon agenda updates and registration opportunities, join Channelchek.com, Noble’s online investment community, listing more than 6,000 public emerging growth companies. This is an open-access site with no cost (ever) to join. Companies with market capitalization of $3 billion or less wishing to learn more about presenting at NobleCon19 can Inquire Here.

About Seeking Alpha:
Seeking Alpha is the world’s leading investing community, where investors connect daily to discover and share new investing ideas, discuss the latest news, debate the merits of stocks, and make informed investment decisions. Seeking Alpha’s content has unparalleled breadth and depth: from stocks, ETFs and mutual funds to commodities and cryptocurrency. Seeking Alpha gives investors access to professional-caliber research tools – including factor grades and quant ratings that summarize each stock’s characteristics. Seeking Alpha empowers investors to make the absolute best investing decisions by leveraging independent and balanced stock research, fundamental analysis tools, crowdsourced debate, news and actionable market data. Seeking Alpha is not a licensed securities dealer, broker or U.S. investment adviser or investment bank.

About Noble Capital Markets:
Noble Capital Markets, Inc. was incorporated in 1984 as a full-service SEC / FINRA registered broker-dealer, dedicated exclusively to serving underfollowed emerging growth companies through investment banking, wealth management, trading & execution, and equity research activities. Over the past 39 years, Noble has raised billions of dollars for companies and published more than 45,000 equity research reports. www.noblecapitalmarkets.com contact@noblecapitalmarkets.com.

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Bond Market Sell-Off: Impact on Markets, Investors, and Consumers

Posted on October 25, 2023October 25, 2023 by cpatches

The recent sharp sell-off in the bond market has sent shockwaves through financial markets, impacting investors and consumers alike. This sell-off is characterized by rising yields on U.S. government bonds, particularly the 10-year Treasury note. As we delve into the implications of this development, it’s crucial to consider the historical context and the ripple effects on stock markets, investors, and consumers.

Rising Yields and Interest Rates:

Yields on government bonds, especially the 10-year Treasury note, play a pivotal role in shaping interest rates across the financial spectrum. Mortgage rates, credit card rates, and other forms of debt are closely tied to these yields. The yield on the 10-year Treasury note, widely viewed as one of the safest investments globally, recently surged above 5%, a level not seen since 2007.

Drivers of the Sell-Off:

Several factors have fueled this bond market sell-off. Stronger-than-expected economic data has boosted the outlook for the U.S. economy. The government’s deteriorating financial condition, coupled with concerns over mounting debt levels, have also contributed to the sell-off. In 2022, the bond market faced its worst year on record, with the Federal Reserve aggressively raising interest rates to combat high inflation.

Inverse Relationship: Bond Prices and Yields:

The inverse relationship between bond prices and yields is a cornerstone of the bond market. When yields rise, bond prices fall. This dynamic has been particularly pronounced in recent weeks, pushing yields higher.

The Fed’s Role and Economic Implications:

The Federal Reserve, the U.S. central bank, has played a pivotal role in the bond market. During the pandemic, it acquired trillions of dollars’ worth of fixed-income securities to support the economy. However, since 2021, the Fed has been gradually reducing the size of its portfolio. Over the past 18 months, the Fed has hiked benchmark interest rates by over 500 basis points.

Fed Chair Jerome Powell recently indicated that the central bank will approach its monetary-tightening measures carefully. The Fed’s priority is to tame inflation, which may require maintaining higher interest rates for an extended period, further influencing the bond market.

Growing Debt and Downgrades:

Wall Street’s concerns are further compounded by the United States’ escalating debt levels. Fitch Ratings recently downgraded the country’s bond rating from AAA to AA+. The U.S. budget deficit has surged in the latest fiscal year, with the outstanding debt reaching a staggering $33.64 trillion. Notably, the debt has increased by $640 billion in just the past five weeks.

Impact on Stock Markets and Investors:

The bond market’s turbulence can have a pronounced impact on stock markets. The rise in bond yields can make fixed-income investments more attractive, potentially diverting capital from stocks. This shift in investor sentiment has been a factor in the recent decline in U.S. stock markets in the latter half of 2023.

Consumer Implications:

Consumers are not immune to the repercussions of a bond market sell-off. Rising yields tend to result in higher borrowing costs, impacting mortgage rates, credit card rates, and other forms of consumer debt. Consumers may also experience the indirect effects of a less accommodative monetary policy, which can influence overall economic conditions.

In summary, the bond market’s recent sell-off, with surging yields and growing debt concerns, has multifaceted implications. It underscores the intricate interplay between bond markets, stock markets, investors, and consumers. As the Federal Reserve continues to navigate the path of monetary tightening, the financial landscape remains fluid, and stakeholders must adapt to these evolving dynamics.