cpereira@noblefcm.com, Author at Channelchek

GeoVax Labs, Inc. (GOVX) – Phase 2 Study For COVID-19 Booster In CLL Patients Begins

Posted on July 20, 2023July 20, 2023 by cpereira@noblefcm.com

Thursday, July 20, 2023

GeoVax Labs, Inc., a clinical-stage biotechnology company, develops human vaccines for infectious diseases and cancer in the United States and internationally. The company through its patented Modified Vaccinia Ankara-Virus Like Particle vaccine platform develops various vaccines. It is developing various vaccines that are in human clinical trials, and preclinical research and development phases, including vaccines against human immunodeficiency virus (HIV); Zika virus; malaria; and hemorrhagic fever viruses, such as Ebola, Sudan, Marburg, and Lassa, as well as therapeutic vaccines for chronic Hepatitis B infections and cancers. The company has collaboration and partnership agreements with the National Institute of Allergy and Infectious Diseases of the National Institutes of Health; the HIV Vaccines Trial Network; Centers for Disease Control and Prevention; United States Army Research Institute of Infectious Disease; U.S. Naval Research Laboratory; Emory University; University of Pittsburgh; Georgia State University Research Foundation; Peking University; University of Texas Medical Branch; the Institute of Human Virology at the University of Maryland; the Scripps Research Institute; the Burnet Institute; American Gene Technologies, Inc.; Viamune, Inc.; Vaxeal Holding SA; CaroGen Corporation; Virometix AG; and Leidos, Inc. GeoVax Labs, Inc. was founded in 2001 and is based in Smyrna, Georgia.

Robert LeBoyer, Senior Vice President, Equity Research Analyst, Biotechnology, Noble Capital Markets, Inc.

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

Phase 2 Trial In CLL Has Begun. GeoVax announced that its CM04S1 vaccine has started a Phase 2 investigator-initiated trial (IIT) for protection against COVID-19 in chronic lymphocytic leukemia (CLL) patients. These patients have compromised immune systems and often have poor immune responses to vaccinations. CM04S1 is a bivalent vaccine that stimulates immunity against both the spike protein (S-protein) and the nucleocapsid (N) protein of the SARS-CoV-2 virus. It is currently in a separate Phase 2 trial for immunocompromised patients and in development as a universal booster vaccine.

There Is Still An Unmet Need In COVID-19. Although the COVID-19 pandemic has been declared over, new variants continue to arise throughout the world. Most have been less harmful although highly contagious. Historically, viruses (such as influenza) have had genetic drift over time and mutate to produce new, deadly strains. This is one of the reasons the US government has allocated $5 billion for Project NextGen to continue development efforts for new coronavirus vaccines and treatments.

Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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.

Largo Inc. (LGO) – Finally some good news from Largo

Posted on July 20, 2023July 20, 2023 by cpereira@noblefcm.com

Thursday, July 20, 2023

Largo has a long and successful history as one of the world’s preferred vanadium companies through the supply of its VPURE™ and VPURE+™ products, which are sourced from one of the world’s highest-grade vanadium deposits at the Company’s Maracás Menchen Mine in Brazil. Aiming to enhance value creation at Largo, the Company is in the process of implementing a titanium dioxide pigment plant using feedstock sourced from its existing operations in addition to advancing its U.S.-based clean energy division with its VCHARGE vanadium batteries. Largo’s VCHARGE vanadium batteries contain a variety of innovations, enabling an efficient, safe and ESG-aligned long duration solution that is fully recyclable at the end of its 25+ year lifespan. Producing some of the world’s highest quality vanadium, Largo’s strategic business plan is based on two pillars: 1.) leading vanadium supplier with an outlined growth plan and 2.) U.S.-based energy storage business support a low carbon future.

Michael Heim, Senior Vice President, Equity Research Analyst, Energy & Transportation, Noble Capital Markets, Inc.

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

Largo reported 2023-2Q V2O5 production of 2,639 tonnes, ahead of guidance. At the end of 2023-1Q, management gave production guidance for the second quarter of 2,200-2,400 tonnes. Improved production comes after low production in the December quarter due to wet conditions and in the first quarter due to blending issues requiring infill drilling. Improved production comes after completing drilling and upgrading the crushing process and gives credence to claims that decreased production was due to temporary events.

Not only is production up, sales are up. Largo reports equivalent V2O5 sales of 2,557 tonnes in 2023-2Q ahead of guidance of 1,900-2,300 tonnes. Sales are well above the amount assumed in our models which was the 2,100 tonne midpoint of guidance. Unfortunately, the average benchmark price per lb. of V2O5 in Europe was $8.46, below the price received last year and the $10.00 price assumed in our models. Annual production and sales remain unchanged at 9,000-10,000 tonnes and 8.700-10,700 tonnes, respectively. We now have increased confidence the Largo will meet its annual projections.

Get the Full Report

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

Thursday, July 20, 2023

Michael Heim, Senior Vice President, Equity Research Analyst, Energy & Transportation, Noble Capital Markets, Inc.

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

Get the Full Report

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

PDS Biotechnology Corp. (PDSB) – New PDS0301 Combination Data To Be Presented

Posted on July 18, 2023July 18, 2023 by cpereira@noblefcm.com

Tuesday, July 18, 2023

PDS Biotech is a clinical-stage immunotherapy company developing a growing pipeline of molecularly targeted cancer and infectious disease immunotherapies based on the Company’s proprietary Versamune® and Infectimune™ T-cell activating technology platforms. Our Versamune®-based products have demonstrated the potential to overcome the limitations of current immunotherapy by inducing in vivo, large quantities of high-quality, highly potent polyfunctional tumor specific CD4+ helper and CD8+ killer T-cells. PDS Biotech has developed multiple therapies, based on combinations of Versamune® and disease-specific antigens, designed to train the immune system to better recognize diseased cells and effectively attack and destroy them. The Company’s pipeline products address various cancers including HPV16-associated cancers (anal, cervical, head and neck, penile, vaginal, vulvar) and breast, colon, lung, prostate and ovarian cancers.

Robert LeBoyer, Senior Vice President, Equity Research Analyst, Biotechnology, Noble Capital Markets, Inc.

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

First Data From Prostate Cancer. PDS announced that it will present interim data from its first trial testing PDS301 with docetaxel (Taxotere) in prostate cancer patients. The presentation will be at the International Cytokine and Interferon Society annual meeting in October 2023. We see acceptance of the PDS0301 data for presentation as positive sign for proof-of-concept and expansion into new indications.

Data Will Be From A Dose-Finding Trial To Establish Responses and Safety. The trial tests the combination of PDS0301 with docetaxel in metastatic prostate cancer. The regimen was given in 3-week cycles consisting of a standard dose of docetaxel with one of three dose levels of PDS0301. The presentation abstract is based on safety, immune responses, and clinical activity data from 18 patients.

Get the Full Report

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

FAT Brands Inc. (FAT) – Flexibility

Posted on July 17, 2023July 17, 2023 by cpereira@noblefcm.com

Monday, July 17, 2023

FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets, and develops fast casual, quick-service, casual dining, and polished casual dining concepts around the world. The Company currently owns 17 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises and owns over 2,300 units worldwide. For more information on FAT Brands, please visit www.fatbrands.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.

Debt Raise. In an 8-K filing from late last week, FAT Brands reported the sale of an aggregate principal amount of $105.8 million of notes issued by its special purpose, wholly-owned subsidiary, FB Resid Holdings I, LLC, comprised of $52.9 million of Series 2023-1 10.00% Fixed Rate Senior Secured Notes, Class A-1 and $52.9 million of Series 2023-1 10.00% Fixed Rate Senior Subordinated Secured Notes, Class A-2. An additional $22.1 million in Class A-1 Notes and $22.1 in Class A-2 Notes were issued to a direct subsidiary of the Company and will be held pending sale to third party investors.

Cost. For both the Class A-1 Notes and A-2 Notes, the 10.00% interest rate is comprised of a 6.00% per annum nondeferrable interest portion and a 4.00% per annum deferrable interest portion. According to management, of the $105.8 million, about $60 million was used to swap out existing bonds, lowering overall required payments.

Get the Full Report

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

Comtech Telecommunications (CMTL) – New Contract Awarded

Posted on July 14, 2023July 14, 2023 by cpereira@noblefcm.com

Friday, July 14, 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.

Troposcatter Contract. Yesterday, Comtech announced that the Company was awarded a contract from Fairwinds Technologies, LLC. The contract is for $30 million in which Comtech will provide the Company’s next-generation Troposcatter Family of Systems (FOS) in support of U.S. Army tactical communications. Under the contract, Comtech will be providing leading software-defined Troposcatter FOS to enhance U.S. Army Beyond-Line-of-Site communications across all domains. No timetable was given for the completion of the contract. The new contract complements the existing award from the U.S. Marines, in our view.

Fairwinds Technologies Overview. Fairwinds Technologies is a systems integrator and engineering services firm that designs and integrates communications, networking and information technology solutions to serve defense and civilian agencies around the world. Recent customers for the company include the U.S. Army and Defense Information Systems Agency.

Get the Full Report

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

Alliance Resource Partners (ARLP) – Evolving into a Diversified Energy Company

Posted on July 13, 2023July 13, 2023 by cpereira@noblefcm.com

Thursday, July 13, 2023

ARLP is a diversified natural resource company that generates operating and royalty income from coal produced by its mining complexes and royalty income from mineral interests it owns in strategic oil & gas producing regions in the United States, primarily the Permian, Anadarko and Williston basins. ARLP currently produces coal from seven mining complexes its subsidiaries operate in Illinois, Indiana, Kentucky, Maryland and West Virginia. ARLP also operates a coal loading terminal on the Ohio River at Mount Vernon, Indiana. ARLP markets its coal production to major domestic and international utilities and industrial users and is currently the second largest coal producer in the eastern United States. In addition, ARLP is positioning itself as an energy provider for the future by leveraging its core technology and operating competencies to make strategic investments in the fast growing energy and infrastructure transition.

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.

Refining estimates. While our 2023 EBITDA and EPU estimates are largely unchanged, we have made some quarterly adjustments lowering our second quarter EPU estimate to $1.30 from $1.35 and increasing our fourth quarter EPU estimate to $1.40 from $1.35. We have increased our coal sales volumes in the fourth quarter and modestly reduced our coal volumes and revenue per ton in the second quarter due in part to lower coal export prices during the second quarter which we think will strengthen during the second half. Second quarter crude oil prices were modestly lower than our estimates while natural gas prices were higher. We have trimmed our 2024 EBITDA and EPS estimates to $1.10 billion and $5.65 from $1.11 billion and $5.70, respectively, to reflect modestly lower coal volumes and prices compared to previous estimates.

Strong cash flow facilitates debt reduction. On July 25, Alliance will redeem $50.0 million of its 7.5% senior notes due 2025, representing 14.7% of the $339.2 million in aggregate notes outstanding. In March, the partnership purchased $26.6 million of its outstanding 2025 senior notes in the open market slightly below par. Alliance can call all or any part of its senior notes at par value and management intends to prioritize purchases with available cash flows in 2023 and 2024.

Get the Full Report

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

RCI Hospitality Holdings (RICK) – 3Q23 Club and Restaurant Sales

Posted on July 12, 2023July 12, 2023 by cpereira@noblefcm.com

Wednesday, July 12, 2023

With more than 60 units, RCI Hospitality Holdings, Inc., through its subsidiaries, is the country’s leading company in adult nightclubs and sports bars/restaurants. Clubs in New York City, Chicago, Dallas-Fort Worth, Houston, Miami, Minneapolis, Denver, St. Louis, Charlotte, Pittsburgh, Raleigh, Louisville, and other markets operate under brand names such as Rick’s Cabaret, XTC, Club Onyx, Vivid Cabaret, Jaguars Club, Tootsie’s Cabaret, Scarlett’s Cabaret, Diamond Cabaret, and PT’s Showclub. Sports bars/restaurants operate under the brand name Bombshells Restaurant & Bar.

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.

3Q23 Club and Restaurant Sales. RCI reported sales for the Nightclubs and Bombshells restaurants of $76.4 million for the fiscal third quarter ended June 30th. This is an 8.9% y-o-y increase, driven by acquisitions which was partially offset by a decline in Same Store Sales across both segments. We had projected full revenue for the quarter of $77.7 million and consensus was $77.6 million. Recall the $76.4 million does not include non-core operations, which typically can add some $0.5-$1.0 million to the final quarterly total.

Nightclubs. Revenue rose 14.1%, y-o-y, or $7.7 million, to $62.0 million, driven by acquisitions and two reopened/reformatted clubs, which added $13.3 million of revenue combined. Segment SSS declined 7.3%, the first SSS decline in nine quarters. While the Nightclub business is recession resistant, the sharp SSS decline is surprising. In the most recent quarters, management had noted some localized weakness but no discernable, overall softness in the business. Openings of new and remodeled clubs should benefit 4Q23.

Get the Full Report

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

MAIA Biotechnology (MAIA) – THIO-101 Part A Survival Data Reaches 12 Months

Posted on July 11, 2023July 11, 2023 by cpereira@noblefcm.com

Tuesday, July 11, 2023

MAIA is a targeted therapy, immuno-oncology company focused on the development and commercialization of potential first-in-class drugs with novel mechanisms of action that are intended to meaningfully improve and extend the lives of people with cancer. Our lead program is THIO, a potential first-in-class cancer telomere targeting agent in clinical development for the treatment of NSCLC patients with telomerase-positive cancer cells. For more information, please visit www.maiabiotech.com.

Robert LeBoyer, Senior Vice President, Equity Research Analyst, Biotechnology, Noble Capital Markets, Inc.

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

Survival Data From The First Two Patients Announced. MAIA Biotechnology announced updated survival data from the first two patients treated in its Phase 2 THIO-101 trial. The patients remain alive without disease progression for 12.2 and 11.5 months from treatment initiation and 10.2 months and 8.5 months after completing THIO treatment. These results compare with expected survival of about 3 months to 4 months after disease progression or about 6 months if a third line of therapy is given. We see these positive results as consistent with the preclinical data.

Patients Were From The Safety Lead-In Stage. The THIO-101 trial enrolls patients with recurrent or metastatic Stage 4 non-small cell lung cancer that have failed 2 lines of therapy. These prior therapies include an immune checkpoint inhibitor and a platinum-based (standard) chemotherapy regimen. The two patients were from the Part A safety verification stage. The patients were treated with 360 mg of THIO followed by a standard regimen of Libtayo (cemiplimab, an immune checkpoint inhibitor from Regeneron). The patients have not received any new cancer therapies.

Get the Full Report

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

GeoVax Labs, Inc. (GOVX) – First Gedeptin Data From Phase 1/2 Presented

Posted on July 11, 2023July 11, 2023 by cpereira@noblefcm.com

Tuesday, July 11, 2023

Robert LeBoyer, Senior Vice President, Equity Research Analyst, Biotechnology, Noble Capital Markets, Inc.

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

GeoVax Presents Preliminary Phase 1/2 HNSCC data GeoVax presented first data from its Gedeptin Phase 1/2 trial at the AACR (American Association for Cancer Research) and AHNS (American Head and Neck Society) joint cancer conference. The results show that the Gedeptin regimen was able to achieve Stable Disease according to RECIST 1.1 criteria in 5 out of 7 evaluable patients.

Study Design and First Data. Gedeptin delivers the PNP gene from E. coli to convert a prodrug, fludarabine, into an active cytotoxic drug, fluoroadenine, inside the tumor cells. The trial enrolled patients with refractory head and neck squamous cell carcinoma (HNSCC) to receive up to 5 cycles of the combination, consisting of 3 intratumoral injections of Gedeptin over two days followed by daily infusions of fludarabine for three days. The presentation reported on the first 8 patients out of a planned enrollment of 10 patients.

Get the Full Report

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

Eskay Mining Corp. (ESKYF) – Sale of Mining Claims Enhances Financial Flexibility

Posted on July 11, 2023July 11, 2023 by cpereira@noblefcm.com

Tuesday, July 11, 2023

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.

Sale of mining claims enhances financial flexibility. Eskay Mining recently sold five mining claims to Skeena Resources Limited (TSX: SKE, NYSE: SKE) for C$4 million in cash. Initial consideration of C$2 million was paid to Eskay upon closing with an additional C$1 million payable on October 31, 2023, and a final C$1 million payment due on December 31, 2023. Four of the claims are north and west of the Skeena Eskay Creek Project, and one of the claims is adjacent to the west side of the project.

Maintaining exposure to the properties’ long-term potential. Eskay Mining retained a 2% net smelter returns royalty (NSR) interest in the claims. Skeena may purchase 50% of the royalty at any time for C$2 million. Moreover, Eskay will not be required to pay any road use fees to Skeena for its use of the Eskay Creek Road for the five-year period ending December 31, 2027.

Get the Full Report

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

Kratos Defense & Security (KTOS) – Awarded $95 Million Unmanned Target Contract

Posted on July 10, 2023July 10, 2023 by cpereira@noblefcm.com

Monday, July 10, 2023

Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) develops and fields transformative, affordable technology, platforms, and systems for United States National Security related customers, allies, and commercial enterprises. Kratos is changing the way breakthrough technologies for these industries are rapidly brought to market through proven commercial and venture capital backed approaches, including proactive research, and streamlined development processes. At Kratos, affordability is a technology, and we specialize in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, hypersonic systems, training and combat systems and next generation turbo jet and turbo fan engine development. For more information go to www.kratosdefense.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.

Another Award. On Friday, the Department of Defense announced Kratos has been awarded a $95 million firm-fixed-price contract for fixed-wing, subscale, jet-propelled aerial, unmanned target systems. The U.S. Army was the contracting unit. Work locations and funding will be determined with each order, with an estimated completion date of July 6, 2028.

Further Proof. As Kratos CEO Eric DeMarco noted in the 1Q23 conference call, “Kratos’ target drone business is performing well, driven by Kratos’ producing and delivering what we consider to be the highest performance threat representative jet drone systems in the world, with our primary customers including the United States Navy, Air Force and Army. The global recapitalization of strategic weapon systems and the requirement to test and train on these weapon systems is providing a strong macro level catalyst for Kratos’ target drone business.” We view Friday’s award as further confirmation of the positive momentum in the target drone business.

Get the Full Report

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

Seanergy Maritime (SHIP) – Seanergy repurchases shares and acquires a new vessel amid recent shipping rate weakness

Posted on July 7, 2023July 7, 2023 by cpereira@noblefcm.com

Friday, July 07, 2023

Seanergy Maritime Holdings Corp. is the only pure-play Capesize ship-owner publicly listed in the US. Seanergy provides marine dry bulk transportation services through a modern fleet of Capesize vessels. The Company’s operating fleet consists of 17 Capesize vessels with an average age of approximately 12 years and aggregate cargo carrying capacity of approximately 3,011,083 dwt. The Company is incorporated in the Marshall Islands and has executive offices in Glyfada, Greece. The Company’s common shares trade on the Nasdaq Capital Market under the symbol “SHIP” and its Class B warrants under “SHIPZ”.

Michael Heim, Senior Vice President, Equity Research Analyst, Energy & Transportation, Noble Capital Markets, Inc.

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

Seanergy repurchased approximately 2% of its shares outstanding at an average price of $4.35 per share. The shares were repurchased at an 11.2% discount to its July 5th stock price. The shares fell approximately 5% on July 6th, a reflection of weakness in the overall market more than the share repurchase announcement. SHIP reported a cash position of $20 million at the end of the first quarter, adequate capital to finance the $1.6 million share repurchase.

Seanergy also announced an agreement to acquire a vessel through a bareboat-in charter. A bareboat-in charter allows the acquirer to take possession of a boat for which no crew or provisions are included as part of the agreement. Seanergy will pay $7 million and $9,000/day for the 12-month charter and has an option to purchase the vessel for $20.2 million. Despite Capesize Drybulk shipping rates declining in recent weeks, they agreement should provide a modest boost to near-term cash flow generation. We would expect the company to execute its option to purchase the vessel and become the 18th ship in Seanergy’s fleet.

Get the Full Report

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

Comstock Inc. (LODE) – Optimizing the Value of Comstock’s Mining Asset Portfolio

Posted on July 7, 2023July 7, 2023 by cpereira@noblefcm.com

Friday, July 07, 2023

Comstock (NYSE: LODE) innovates technologies that contribute to global decarbonization and circularity by efficiently converting under-utilized natural resources into renewable fuels and electrification products that contribute to balancing global uses and emissions of carbon. The Company intends to achieve exponential growth and extraordinary financial, natural, and social gains by building, owning, and operating a fleet of advanced carbon neutral extraction and refining facilities, by selling an array of complimentary process solutions and related services, and by licensing selected technologies to qualified strategic partners. To learn more, please visit www.comstock.inc.

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.

Lease agreement with Mackay Precious Metals. Comstock’s wholly owned subsidiary, Comstock Northern Exploration, entered into a mineral exploration and mining lease agreement, dated June 30, 2023, with Mackay Precious Metals. The lease encompasses Comstock’s northernmost mining claims, mineral exploration rights, and town lots referred to as the Northern Targets, including the Gold Hill and northern Occidental Lode claim groups in the Comstock Mining District.

Primary lease term is 20 years. Mackay is expected to explore the properties through geophysical surveys, geochemical sampling, exploration drilling, and other means of exploration. The mineral lease has a term of 20 years and will continue once mine feasibility is established and for so long as Mackay is engaged in mining operations and is in compliance with the lease.

Get the Full Report

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