Author: Admin

Developer

WallStreetBets Founder May Create Controversial ETP

Posted on by Admin 


	Image Credit: Ivan Radic (Flickr)

Founder of WallStreetBets has a New Idea for CopyCat Investors

 

Copycat investors or coattail investors have sought to invest like Warren Buffett, Michael Burry, Carl Icahn, and even Cathie Wood. It’s a legitimate method of picking stocks and building a portfolio. Just copy what someone successful is investing in. But what about others in the public arena? WallStreetBets founder Jaime Rogozinski may create an ETP based on one of the most successful investors in recent years.

Jaime Rogozinski founded WallStreetBets, and authored the popular book, WallStreetBets, How Boomers Made the Worlds’s Biggest Casino
for Millennials. Both were an attempt to expose “shocking trends” in the current financial system.  In some ways, Rogozinski’s creations have backfired on his original intent as they have been adopted by some of the very folks he was trying to expose. He’s no longer active in the immensely popular subreddit group he started and has intentionally distanced himself from it. Still, there is no question about the huge impact his creation has on investors in this new age of app and meme investing. As a successful businessman and investor, Rogozinskie has a knack for spotting trends early and sniffing out the next big thing. At the same time, Rogozinski has expressed chagrin over being right on movements he has been critical of. With this in mind, he may launch a controversial investment product based on the investments of one of today’s most insightful speculators, Nancy Pelosi’s husband.

The New Idea

Rogozinski believes there is real potential for an investment product that tracks the bets of Paul F. Pelosi. In an interview, he suggested a Pelosi-themed exchange-traded portfolio (ETP) could be incarnated on a platform that is part of his latest push to empower retail investors. “I got this idea, somewhat of a joke, but I can’t shake it so I’m probably going to start pushing for it, which is this ‘Nancy ETP,'” Rogozinski told the online magazine Market
Insider.

The portfolio would be on the new WallStreetBets DApp. This DApp is a blockchain-based shop for stocks and other assets, the products and offerings extend beyond one particularly curious ETP. The new DApp is an expression of what Rogozinski sees as the next big thing in the financial world, he’s a strategic partner in its creation. “This is very much a way for me to say crypto and Wall Street are definitely going to merge and they’re starting to spill into each other already,” he was recently quoted as saying. “For far too long, I made the mistake of assuming blockchain technology and cryptocurrencies were one in the same thing – and they’re not,” Rogozinski said. “This whole DeFi (decentralized finance) infrastructure that’s able to create a parallel ecosystem in finances is astoundingly powerful, more than I could have imagined.”

Nancy ETP

Rogozinski’s idea for an automated Nancy Pelosi ETP would highlight a key feature on the WSB DApp. The platform allows members of the community to suggest the creation and the makeup of ETPs. The WSB DApp platform has a native token, the $WSB governance token that people can buy and then use to vote on the type of assets and weightings that should go into one of the ETPs. So if you are a member, and you believe a particular ETP should be made up of stocks that say carry an outperform rating by Noble Capital Markets equity analysts, token holders can signal transactions on an idea like this during voting cycles within the DApp

A Paul Pelosi-centered ETP would apply the “if you can’t beat them, join them” approach while drawing attention to the newest business interest of Rogozinski, attention fueled by outrage and debate over current headlines. In the case of Paul Pelosi, one trade, in particular made headlines. It involved shares of Google parent Alphabet that made $5.3 million for him prior to a House Judiciary Committee vote on tech antitrust regulation. Spokespersons for Speaker Pelosi told media outlets she owns no stock herself and had no knowledge of her husband’s equity purchases. Rogozinski said, “people are able to make money,” with a product like the “Nancy ETP”,  “nothing’s sure but past performance is definitely impressive,” he said speaking about Paul Pelosi’s stock picks.

 

Take-Away

The Pelosi theme has a strong mix of ingredients to prompt discussions on WallStreetBets and other forums that should serve to promote the WallStreetBets DApp. As we have all seen with other social media-based trafficking in ideas, a large enough herd does move markets. Whether the DApp and the ideas and information expressed on it is impactful remains to be seen.

The WallStreetBets DApp is an ongoing entity that states its intention as trying to
undermine any manipulation or, at a minimum place self-directed investors on the same side as any perceived market manipulation. It’s probably worth paying attention to.  As for those mimicking Warren Buffett who is 91, or Paul Pelosi who is 82, websites like Channelchek and the WallStreetBets DApp may help these investors progression into a plan B in case these two stop investing at some point.

Paul Hoffman

Managing Editor, Channelchek

Suggested Reading:



You Can Own a Piece of r/wallstreetbets

Decentralized Apps (“Dapps”) Using Blockchain to Change the Internet





Decentralized Finance, Is It The Future?

Facebook’s Practice of Whitelisting Accounts is Being Reviewed

 

Sources:

https://www.wsbdapp.com/

https://en.wikipedia.org/wiki/Paul_Pelosi#:~:text=San%20Francisco%2C%20California%2C%20U.S.&text=Paul%20Francis%20Pelosi%20Sr.,capital%20investment%20and%20consulting%20firm.

https://www.investopedia.com/articles/investing/011414/how-be-perfect-copycat-investor.asp

https://markets.businessinsider.com/news/stocks/jaime-rogozinski-interview-wallstreetbets-founder-wsb-dapp-nancy-pelosi-commentary-2021-10

 

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Marijuana Dispensaries and the Impact on Use

Posted on by Admin 


	Image Credit: GoToVan

Cannabis Store Openings in Canada Only Slightly Affected the Number of Users

 

This article was republished with permission from  The
Conversation, a news site dedicated to sharing ideas from academic experts. It represents the research-based findings and thoughts of 
Michael J. Armstrong, Associate professor of operations research, Goodman School of Business, Brock University

 

Despite Canada approaching its third anniversary of cannabis legalization, some municipalities still ban licensed shops. Other countries talking about legalizing cannabis also seem inclined toward minimizing legal access. But my research suggests those policies are probably counterproductive.

Canada legalized recreational cannabis on Oct. 17, 2018. After initial product shortages eased in spring 2019, store openings and retail sales soared. Monthly sales hit $339 million in July 2021 and the national store total now exceeds 2,600.

 

Line chart showing relative number of Canadian cannabis
users, stores and sales

 

User numbers have also grown. In 2018, 14 per cent of the population aged 15 and up admitted to using cannabis. That reached 20 per cent in 2020, equivalent to 6.2 million users.

Quarterly recreational cannabis sales, stores, and user prevalence, as percentages of fourth quarter 2020 values. Prepared by author from government data.

Canada’s cannabis approach differs greatly from the American (USA) one. But both countries share one detail: municipal governments opting out of allowing cannabis stores.

Do experts have something to add to public debate?

Local Store Bans

Several million Canadians live in places that ban licensed shops, including cities like Mississauga, Ont., and Surrey, B.C.

Meanwhile in the U.S., most California municipalities opted out of allowing stores after recreational sales began there in 2018. More recently, 71 per cent of towns in New Jersey and 90 per cent of those in Maine did likewise. New York’s communities have until Dec. 31 to decide.

Licensed shops could provide economic benefits. But some politicians and residents worry they’d also boost cannabis use and crime.

This apparent trade-off motivated my research.

 

Stores, Sales and Users

My study compared per capita growth in store numbers, recreational cannabis sales dollars and user numbers from 2018 to 2020 in Canada.

Stores and sales were strongly related. Differences in provincial store growth explained 46 per cent of the differences in sales growth. That’s a lot, given that many other factors like pricing, consumer tastes and weather also affect sales.

By contrast, store growth explained just eight per cent of user growth. A simple quarterly trend better explained the user increases.

In other words, almost the same user growth occurred regardless of how many shops opened. But where shops were plentiful, users increasingly bought legally.

One reason for the weak stores-and-users relationship was that user estimates came from government surveys with large error margins. They might not detect subtle changes.

 

Legal Versus Illegal Markets

The black market provides another likely reason. Licensed shops clearly increase access to legal products. But they only marginally increase overall access if illegal dealers are already widespread.

Consider the southern Ontario city of Hamilton. In January 2019, the city had 34 illegal dispensaries and countless online dealers. So when the first licensed shop opened three months later, it suddenly made legal products accessible. But the city’s total cannabis supply barely budged. Advertising restrictions likely played a role. Cannabis retailers couldn’t use ad blitzes or free samples to stimulate demand.

Canada’s 2018-20 user growth might have instead come from legalization’s removal of criminal penalties. That could have encouraged non-users to start, regardless of whether shops opened nearby.

Or the growth might have just represented ongoing trends. Canada’s cannabis use had been increasing since 2010.

My study analyzed province-level outcomes. But it has implications for other government levels too.

 

 

Are Opt-Outs Mostly Cop-Outs?

At the municipal level, politicians banning licensed stores might think they’re protecting residents.

But my study implies communities will see similar user growth after legalization whether they allow shops or not.

Those users will increasingly buy legally if local shops open. But without such stores, users will keep visiting illicit sources where products might be misrepresented or contaminated.

This means community store bans could lead to more crime and health problems rather than less.

It’s probably OK for politicians to briefly delay store licensing while they update local regulations. But beyond that, retail opt-outs risk becoming political cop-outs that hide problems instead of addressing them.

Similar logic applies at the national level when countries legalize.

Legalizing Countries Need Legal Access

Mexico’s courts ruled in 2018 that cannabis should be legal there. But its Congress still hasn’t passed legislation. One proposed bill would have legalized cannabis but made it very inaccessible.

South Africa has been similarly slow at implementing its own court’s 2018 ruling.

Both countries should rethink their reluctance. If they don’t provide practical legal access to a theoretically legal substance, they risk getting legalization’s pains without its gains. The main winners will be illicit dealers.

Switzerland and the Netherlands should consider this issue too during their cannabis pilot studies next year. As should other countries contemplating legalization, like Luxembourg, Italy, Germany and the U.S.

Of course, there’s more to sales than just stores. Research suggests ample supplies, convenient shopping hours and competitive prices also matter. And don’t forget product quality or package design.

Cannabis legalization is complex. Canada is still learning from its experiences. Hopefully other countries can learn from them too.

 

Suggested Reading:



Cannabis Customers Served by the Ice Cream Truck Delivery Model



Does Net Profit Matter for Marijuana Stocks





The Technological Invasion in Cannabis Cultivation

Apple’s Marijuana Decision Will Lead to Many Critical Decisions for Investors

 

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Release – Dr. Patrick Gruber to Participate in a Water Tower Research Fireside Chat

Posted on by Admin


Dr. Patrick Gruber to Participate in a Water Tower Research Fireside Chat on Thursday, October 21, 2021 at 4:30 pm EDT

 

ENGLEWOOD, Colo., Oct. 18, 2021 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO), announced today that Dr. Patrick Gruber, Chief Executive Officer, will participate in a Water Tower Research Fireside Chat on Thursday, October 21, 2021 at 4:30 pm EDT.
 

Topic: Discussing Recent Key Events and the Commercial Development of Ethanol to Jet (ETJ) Technology

Investors and other persons interested in participating in the event must register using the link below. Please note that registration for the live event is limited but may be accessed at any time for replay after the presentation ends on October 21, 2021, utilizing the same registration link.

Registration Link: https://globalmeet.webcasts.com/starthere.jsp?ei=1506721&tp_key=f0a767cf05

About Gevo

Gevo’s mission is to transform renewable energy and carbon into energy-dense liquid hydrocarbons. These liquid hydrocarbons can be used for drop-in transportation fuels such as gasoline, jet fuel, and diesel fuel, that when burned have potential to yield net-zero greenhouse gas emissions when measured across the full lifecycle of the products. Gevo uses low-carbon renewable resource-based carbohydrates as raw materials, and is in an advanced state of developing renewable electricity and renewable natural gas for use in production processes, resulting in low-carbon fuels with substantially reduced carbon intensity (the level of greenhouse gas emissions compared to standard petroleum fossil-based fuels across their lifecycle). Gevo’s products perform as well or better than traditional fossil-based fuels in infrastructure and engines, but with substantially reduced greenhouse gas emissions. In addition to addressing the problems of fuels, Gevo’s technology also enables certain plastics, such as polyester, to be made with more sustainable ingredients. Gevo’s ability to penetrate the growing low-carbon fuels market depends on the price of oil and the value of abating carbon emissions that would otherwise increase greenhouse gas emissions. Gevo believes that its proven, patented, technology enabling the use of a variety of low-carbon sustainable feedstocks to produce price-competitive low carbon products such as gasoline components, jet fuel, and diesel fuel yields the potential to generate project and corporate returns that justify the build-out of a multi-billion-dollar business.

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

Learn more at Gevo’s website: www.gevo.com

Investor and Media Contact

IR@gevo.com

+1 720-647-9605

Release – Sierra Metals Reports Third-Quarter 2021 Production Results

Posted on by Admin


Sierra Metals Reports Third-Quarter 2021 Production Results, Expecting To Meet Low End Of Revised Annual Production Guidance As The Production Ramps Up To Full Capacity At All Three Mines

 

TORONTO–(BUSINESS WIRE)– Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”) is pleased to report third-quarter 2021 production results.

Results are from Sierra Metals’ three underground mines in Latin America: The Yauricocha polymetallic mine in Peru, and the Bolivar copper and Cusi silver Mines in Mexico.

Third Quarter 2021 Consolidated Production Results

  • Copper production of 8.3 million pounds; a 32% decrease from Q3 2020
  • Zinc production of 19.1 million pounds; a 23% decrease from Q3 2020
  • Silver production of 0.8 million ounces; a 21% decrease from Q3 2020
  • Lead production of 7.8 million pounds; a 20% decrease from Q3 2020
  • Gold production of 2,261 ounces; a 43% decrease from Q3 2020
  • Copper equivalent production of 21.9 million pounds; a 38% decrease from Q3 2020

Luis Marchese, CEO of Sierra Metals, commented: “The third quarter has been particularly difficult for the Company. It has presented us with tough challenges arising from sequencing issues due to the COVID-19 limitations over the last year, as well as unexpected equipment availability issues that impacted throughput, head grades and recoveries, particularly at the Bolivar Mine. Additionally, during the quarter, Cusi presented operational limitations caused by high temperatures at the available mineable areas. However, these issues are temporary in nature, and we expect to meet the lower end of the revised annual production guidance.

He continued, “With the strategic review now completed, we can now focus all of our efforts on stabilizing our operations to their full potential. We see improved workforce and contractor availability which should allow us to catch up on the development and preparation of higher grade stopes for inclusion into the mine plan in the coming quarters. We have reinitiated work on a backlog of accumulated sustaining infrastructure projects as well as on exploration from our brownfield drilling programs which are expected to improve the quality and tonnage of our mineral resources. We also expect to publish the Preliminary Feasibility Study for Bolivar by year end, followed by Q1 2022 for Yauricocha and Cusi by Q2 2022, which support planned throughput growth at the mines.”

He concluded, “Despite the difficult challenges encountered this year, the quality of the resource base at our three mines underpins an improved outlook for the Company. With a renewed focus and refined strategy, we expect to continue on a path of striving for production growth while optimizing and improving operations with a goal of cost reduction as we complete this year and continue into 2022, which will benefit all stakeholders in the Company.”

Consolidated Production Results

Consolidated Production Three Months Ended September 30, Nine Months Ended September 30,

2021

2020

 % Var.

2021

2020

 % Var.
 
Tonnes processed

750,208

798,458

-6%

2,312,163

2,050,641

13%
Daily throughput

8,574

9,125

-6%

8,808

7,812

13%

 

 

 

 

 

 

 

 

 

 

 

 
Silver production (000 oz)

807

1,023

-21%

2,722

2,543

7%
Copper production (000 lb)

8,256

12,153

-32%

25,686

33,636

-24%
Lead production (000 lb)

7,841

9,855

-20%

24,805

25,340

-2%
Zinc production (000 lb)

19,112

24,869

-23%

64,368

60,256

7%
Gold Production (oz)

2,261

3,989

-43%

7,709

10,408

-26%

 

 

 

 

 

 

 

 

 

 

 

 
Silver equivalent ounces (000’s)(1)

3,842

4,193

-8%

11,622

12,119

-4%
Copper equivalent pounds (000’s)(1)(2)

21,870

35,170

-38%

71,966

89,100

-19%
Zinc equivalent pounds (000’s)(1)

68,489

96,867

-29%

228,824

242,563

-6%
 
(1) Silver equivalent ounces and copper and zinc equivalent pounds for Q3 2021 were calculated using the following realized prices: $24.20/oz Ag, $4.25/lb Cu, $1.36/lb Zn, $1.07/lb Pb, $1,790/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for Q3 2020 were calculated using the following realized prices: $24.89/oz Ag, $2.97/lb Cu, $1.08/lb Zn, $0.85/lb Pb, $1,916/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for 9M 2021 were calculated using the following realized prices: $25.81/oz Ag, $4.17/lb Cu, $1.31/lb Zn, $0.99/lb Pb, $1,796/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for 9M 2020 were calculated using the following realized prices: $19.35/oz Ag, $2.63/lb Cu, $0.97/lb Zn, $0.80/lb Pb, $1,742/oz Au.
(2) In August 2021, the Company revised its annual production guidance to 110 million to 115 million copper equivalent pounds, using the following budgeted metal prices: $25.15/oz Ag, $3.12/lb Cu, $1.09/lb Zn, $0.90/lb Pb and $1,936/oz Au. For direct comparison, the 9-month copper equivalent production calculated at same metal prices is 82 million pounds . As such, the anticipated annual production is expected to be in the guidance range.

Yauricocha Mine, Peru

Operating at an average daily ore throughput rate of 3,705 tpd (calculated for the number of operating days) during Q3 2021, the Yauricocha mine processed 324,196 tonnes which is a 2% increase compared to Q3 2020.

Grades for all metals were lower for the quarter due to the sequencing of mining with more ore coming from the Esperanza and Cachi Cachi zone, which are concentrated copper sulphide zones versus polymetallic zones, which contain more zinc and lead. As a result, during Q3 2021, mining operations focused on these larger but lower-grade ore bodies. As a result, recoveries for all metals, except gold, were negatively impacted by the lower head grades.

A summary of production from the Yauricocha Mine for Q3 2021 is provided below:

Yauricocha Production Three Months Ended September 30, Nine Months Ended September 30,

2021

2020

 % Var.

2021

2020

 % Var.
 
Tonnes processed

324,196

318,155

2%

979,316

805,914

22%
Daily throughput

3,705

3,636

2%

3,731

3,070

22%

 

 

 

 

 

 

 

 

 

 

 

 
Silver grade (g/t)

56.84

61.32

-7%

56.04

64.19

-13%
Copper grade

0.87%

1.01%

-14%

0.71%

1.11%

-36%
Lead grade

1.14%

1.52%

-25%

1.23%

1.56%

-21%
Zinc grade

3.06%

4.00%

-24%

3.35%

3.84%

-13%
Gold Grade (g/t)

0.51

0.55

-7%

0.46

0.61

-25%

 

 

 

 

 

 
Silver recovery

76.11%

82.93%

-8%

79.70%

82.56%

-3%
Copper recovery

74.61%

76.20%

-2%

69.84%

76.19%

-8%
Lead recovery

87.33%

89.53%

-2%

90.15%

88.58%

2%
Zinc recovery

87.39%

88.63%

-1%

89.82%

88.32%

2%
Gold Recovery

21.96%

19.19%

14%

20.91%

19.19%

9%
 
 
Silver production (000 oz)

451

520

-13%

1,385

1,373

1%
Copper production (000 lb)

4,641

5,419

-14%

11,020

14,967

-26%
Lead production (000 lb)

7,146

9,550

-25%

23,683

24,564

-4%
Zinc production (000 lb)

19,112

24,869

-23%

64,368

60,256

7%
Gold Production (oz)

1,169

1,076

9%

3,102

3,180

-2%

 

 

 

 

 

 

 

 

 

 

 

 
Silver equivalent ounces (000’s)(1)

2,740

2,652

3%

7,554

7,727

-2%
Copper equivalent pounds (000’s)(1)

15,596

22,245

-30%

46,775

56,809

-18%
Zinc equivalent pounds (000’s)(1)

48,840

61,269

-20%

148,727

154,655

-4%
 

(1) Silver equivalent ounces and copper and zinc equivalent pounds for Q3 2021 were calculated using the following realized prices: $24.20/oz Ag, $4.25/lb Cu, $1.36/lb Zn, $1.07/lb Pb, $1,790/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for Q3 2020 were calculated using the following realized prices: $24.89/oz Ag, $2.97/lb Cu, $1.08/lb Zn, $0.85/lb Pb, $1,916/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for 9M 2021 were calculated using the following realized prices: $25.81/oz Ag, $4.17/lb Cu, $1.31/lb Zn, $0.99/lb Pb, $1,796/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for 9M 2020 were calculated using the following realized prices: $19.35/oz Ag, $2.63/lb Cu, $0.97/lb Zn, $0.80/lb Pb, $1,742/oz Au.

Bolivar Mine, Mexico

The Bolivar Mine processed 364,941 tonnes in Q3 2021, or a decrease of 11% from the 410,468 tonnes processed in Q3 2020, due to the low availability of equipment, including mining scoops during the quarter. The average daily ore throughput realized during the quarter was approximately 4,171 tpd. Head grades were impacted by a COVID-induced lag on development and infill drilling, which resulted in changes of the mining sequence, as well as dilution issues, which are being corrected. The 11% decrease in throughput combined with lower head grades and recoveries for all metals resulted in a 55% decrease in copper equivalent pounds produced during Q3 2021 compared to Q3 2020. In Q3 2021, copper production decreased by 46% to 3.6 million pounds, silver production decreased 52% to 95 thousand ounces, and gold production decreased 67% to 899 ounces compared to Q3 2020.

A summary of production for the Bolivar Mine for Q3 2021 is provided below:

Bolivar Production Three Months Ended September 30, Nine Months Ended September 30,

2021

2020

 % Var.

2021

2020

 % Var.
 
Tonnes processed (t)

364,941

410,468

-11%

1,121,880

1,096,981

2%
Daily throughput

4,171

4,691

-11%

4,274

4,179

2%

 

 

 

 

 

 

 

 

 

 

 

 
Copper grade

0.61%

0.86%

-29%

0.75%

0.89%

-16%
Silver grade (g/t)

11.18

18.20

-39%

16.70

21.39

-22%
Gold grade (g/t)

0.10

0.32

-67%

0.17

0.30

-43%

 

 

 

 

 

 
Copper recovery

73.06%

86.07%

-15%

79.06%

86.31%

-8%
Silver recovery

71.97%

82.89%

-13%

81.91%

82.56%

-1%
Gold recovery

73.23%

64.17%

14%

67.62%

63.97%

6%

 

 

 

 

 

 

 

 

 

 

 

 
Copper production (000 lb)

3,615

6,734

-46%

14,666

18,669

-21%
Silver production (000 oz)

95

199

-52%

494

623

-21%
Gold production (oz)

899

2,740

-67%

4,117

6,843

-40%
 
 
Silver equivalent ounces (000’s)(1)

796

1,213

-34%

3,148

3,778

-17%
Copper equivalent pounds (000’s)(1)

4,531

10,173

-55%

19,495

27,776

-30%
Zinc equivalent pounds (000’s)(1)

14,190

28,019

-49%

61,987

75,617

-18%
 

(1) Silver equivalent ounces and copper and zinc equivalent pounds for Q3 2021 were calculated using the following realized prices: $24.20/oz Ag, $4.25/lb Cu, $1.36/lb Zn, $1.07/lb Pb, $1,790/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for Q3 2020 were calculated using the following realized prices: $24.89/oz Ag, $2.97/lb Cu, $1.08/lb Zn, $0.85/lb Pb, $1,916/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for 9M 2021 were calculated using the following realized prices: $25.81/oz Ag, $4.17/lb Cu, $1.31/lb Zn, $0.99/lb Pb, $1,796/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for 9M 2020 were calculated using the following realized prices: $19.35/oz Ag, $2.63/lb Cu, $0.97/lb Zn, $0.80/lb Pb, $1,742/oz Au.

Cusi Mine, Mexico

The Cusi mine processed 61,071 tonnes during Q3 2021, which is a 13% decrease as compared to Q3 2020. Silver equivalent production for Q3 2020 was 306 thousand ounces or a 7% decline from Q3 2020, resulting from lower throughput and 5% lower silver head grades partially offset by 3% higher recoveries as compared to Q3 2020. The decline in silver grades resulted from the inability to operate in some of the targeted higher grade zones due to issues related to excessive underground water and heat. A newly driven raise bore and upgraded pumping system were installed during the quarter allowing access to these areas.

Silver production decreased 14% to 261 thousand ounces, gold production increased 12% to 193 ounces, and lead production increased 128% to 0.7 million pounds in Q3 2021 compared to Q3 2020.

A summary of production for the Cusi Mine for Q3 2021 is provided below:

Cusi Production Three Months Ended September 30, Nine Months Ended September 30,

2021

2020

 % Var.

2021

2020

 % Var.
 
Tonnes processed (t)

61,071

69,835

-13%

210,967

147,746

43%
Daily throughput(2)

698

1,074

-35%

804

969

-17%

 

 

 

 

 

 

 

 

 

 

 

 
Silver grade (g/t)

161.03

168.65

-5%

151.98

143.46

6%
Gold grade (g/t)

0.18

0.18

0%

0.16

0.18

-11%
Lead grade

0.62%

0.25%

148%

0.29%

0.29%

0%

 

 

 

 

 

 
Silver recovery (flotation)

82.63%

80.36%

3%

81.77%

80.29%

2%
Gold recovery (lixiviation)

55.89%

43.61%

28%

43.90%

45.17%

-3%
Lead recovery

82.64%

79.30%

4%

82.36%

82.18%

0%

 

 

 

 

 

 

 

 

 

 

 

 
Silver production (000 oz)

261

304

-14%

843

547

54%
Gold production (oz)

193

173

12%

490

385

27%
Lead production (000 lb)

695

305

128%

1,122

776

45%
 
 
Silver equivalent ounces (000’s)(1)

306

328

-7%

920

614

50%
 

(1) Silver equivalent ounces and copper and zinc equivalent pounds for Q3 2021 were calculated using the following realized prices: $24.20/oz Ag, $4.25/lb Cu, $1.36/lb Zn, $1.07/lb Pb, $1,790/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for Q3 2020 were calculated using the following realized prices: $24.89/oz Ag, $2.97/lb Cu, $1.08/lb Zn, $0.85/lb Pb, $1,916/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for 9M 2021 were calculated using the following realized prices: $25.81/oz Ag, $4.17/lb Cu, $1.31/lb Zn, $0.99/lb Pb, $1,796/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for 9M 2020 were calculated using the following realized prices: $19.35/oz Ag, $2.63/lb Cu, $0.97/lb Zn, $0.80/lb Pb, $1,742/oz Au.
(2) Cusi remained in care & maintenance throughout Q2 2020 and part of Q3 2020. Hence daily throughput for Q3 2020 and 9M 2020 has been calculated for 65 days and 152 days only.

Quality Control

All technical data contained in this news release has been reviewed and approved by Americo Zuzunaga, FAusIMM CP (Mining Engineer) and Vice President of Corporate Planning is a Qualified Person and chartered professional qualifying as a Competent Person under the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources, and Ore Reserves.

About Sierra Metals

Sierra Metals Inc. is a diversified Canadian mining company focused on the production and development of precious and base metals from its polymetallic 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

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 2020 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 30, 2020 for its fiscal year ended December 31, 2019 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.

Mike McAllister, CPIR
Vice President, 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 – Avivagen Secures Large OxC-beta Livestock Order in Asia

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Avivagen Secures Large OxC-beta™ Livestock Order in Asia

 

  • 3 tonne order represents a 43% increase over most recent shipment to same customer
  • Growth during pandemic signals strong impact on market share through use of OxC-beta™

Ottawa, ON / Business Wire/ October 18, 2021 / –/ Avivagen Inc.  (TSXV:VIV, OTCQB:VIVXF) (“Avivagen”), a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications that safely enhances feed intake and supports immune function, thereby supporting general health and performance, is pleased to announce it has signed a significant new purchase agreement to supply its largest customer in Asia with a 6.3 tonne order of OxC-beta™ Livestock. The shipment represents a 43% increase in size over the customer’s previous order and continues a trend of increased reorder size among this and other OxC-beta™ customers worldwide.

“We’re extremely pleased to see the continued growth of this important customer in Asia, one of the most important regions worldwide for livestock feed production,” says Kym Anthony, Chief Executive Officer, Aviagen Inc. “We believe that the fact that Avivagen’s customers continue to increase order size for OxC-beta™ amid a global pandemic is a clear sign of the positive impact that integration of our products can have on our customer’s bottom line.  We’re excited by the growth potential ahead of us in both Asia and around the world.”

About Avivagen

Avivagen is a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications that, by safely supporting immune function, promote general health and performance.  It is a public corporation traded on the TSX Venture Exchange under the symbol VIV and is headquartered in Ottawa, Canada, based in partnership facilities of the National Research Council of Canada. For more information, visit www.avivagen.com. The contents of the website are expressly not incorporated by reference in this press release.

About OxC-beta™ Technology and OxC-beta™ Livestock

Avivagen’s OxC-beta™ technology is derived from Avivagen discoveries about beta-carotene and other carotenoids, compounds that give certain fruits and vegetables their bright colours. Through support of immune function the technology provides a non-antibiotic means of promoting health and growth. OxC-beta™ Livestock is a proprietary product shown to be an effective and economic alternative to the antibiotics commonly added to livestock feeds. The product is currently available for sale in the United States, Philippines, Mexico, Taiwan, New Zealand, Thailand, Brazil, Australia, and Malaysia.

Avivagen’s OxC-beta™ Livestock product is safe, effective and could fulfill the global mandate to remove all in-feed antibiotics as growth promoters. Numerous international livestock trials with poultry and swine using OxC-beta™ Livestock have proven that the product performs as well as, and, sometimes, in some aspects, better than in-feed antibiotics.

Forward Looking Statements

This news release includes certain forward-looking statements that are based upon the current expectations of management. Forward-looking statements involve risks and uncertainties associated with the business of Avivagen Inc. and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “aim”, “anticipate”, “appear”, “believe”, “consider”, “could”, “estimate”, “expect”, “if”, “intend”, “goal”, “hope”, “likely”, “may”, “plan”, “possibly”, “potentially”, “pursue”, “seem”, “should”, “whether”, “will”, “would” and similar expressions. Statements set out in this news release relating to the future plans of Avivagen’s customers and the potential for additional and/or increased orders from such customers, anticipated growth in demand for Avivagen’s products, the anticipated date of fulfillment for the order described,  the possibility for OxC-beta™ Livestock to replace antibiotics in livestock feeds as well as fill a critical need for health support in certain livestock applications where antibiotics are precluded and the size of market opportunities are all forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. For instance, the order described may not result in new orders for Avivagen’s products,  the customer plans may change due to many reasons, demand for Avivagen’s products may not continue to grow and could decline, Avivagen’s products may not gain market acceptance or regulatory approval in new jurisdictions or for new applications, including human applications, and may not be widely accepted as a replacement for antibiotics in livestock feeds, new market access may not occur in the timeline or manner expected by Avivagen, timing of fulfillment of the order may be delayed beyond current expectation for a number of reasons which would push fulfillment and recognition of revenues for this order into a future quarter or, in the worst case, cause the order to be terminated and the market opportunities may not be as large as Avivagen anticipates, in each case due to many factors, many of which are outside of Avivagen’s control.  Readers are referred to the risk factors associated with the business of Avivagen set out in Avivagen’s most recent management’s discussion and analysis of financial condition available at www.SEDAR.com. Except as required by law, Avivagen assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

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.

For more information:

Avivagen Inc.
Drew Basek
Director of Investor Relations
100 Sussex Drive, Ottawa, Ontario, Canada K1A 0R6
Phone: 416-540-0733
E-mail: d.basek@avivagen.com

Kym Anthony
Chief Executive Officer
100 Sussex Drive, Ottawa, Ontario, Canada K1A 0R6
Head Office Phone: 613-949-8164

Release – Comtech Announces $100 Million Strategic Growth Investment

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Comtech Announces $100 Million Strategic Growth Investment

 

Investment Enhances Comtech’s Financial Flexibility and Accelerates Its Strategic Initiatives in Satellite Ground Station Infrastructure and Next-Generation Public Safety Solutions

MELVILLE, N.Y.–(BUSINESS WIRE)–Oct. 18, 2021– 
October 18, 2021— 
Comtech Telecommunications Corp. (NASDAQ: CMTL), a leading global provider of next-generation 911 emergency systems and secure wireless communications technologies, today announced a 
$100.0 million investment by current shareholder 
White Hat Capital Partners LP (“White Hat”), an investment firm focused on sustainable value creation in technology companies serving mission-critical applications, and 
Magnetar Capital (“Magnetar”), a leading alternative investment manager with approximately 
$13.8 billion of assets under management.

This strategic growth investment significantly enhances Comtech’s financial flexibility and strengthens the Company’s ability to capitalize on its recent large contract awards and growing customer demand for its satellite communications technologies and next-generation 911 public safety solutions. 
Comtech expects to apply the proceeds of this investment across a range of initiatives to accelerate growth and increase profitability, including, but not limited to:

  • Industry-Leading Broadband Satellite Technology: Complete the build out of the Company’s new, state-of-the-art technology centers and advanced manufacturing capabilities in 
    Chandler, Arizona and 
    Basingstoke, United Kingdom. These facilities will better allow 
    Comtech to capture value from the increasing demand for satellite ground station infrastructure and next-generation broadband technology, which 
    Comtech expects will contribute to significant growth over the next several years.
  • Next-Generation 911 Business Wins: Participate at greater scale and capitalize on the ongoing 911 upgrade cycle across 
    the United States. During fiscal year 2021, 
    Comtech secured large, multi-year agreements with an initial lifetime value in excess of 
    $200 million from states including 
    Arizona, 
    Iowa, and 
    Pennsylvania. The Company has a robust pipeline of similar opportunities and is positioned to benefit from increased federal funding to modernize the nation’s largely outdated 911 systems.
  • Attractive M&A Opportunities: Execute on a disciplined strategy of acquiring and integrating complementary technologies and capabilities, with a focus on creating shareholder value. Over the past several years, 
    Comtech has successfully acquired leading technology companies in both the NG 911 and satellite earth station markets that have been instrumental to bolstering the Company’s market leadership, innovative offerings, and growth outlook.

White Hat and Magnetar’s strategic investment also provides 
Comtech additional flexibility in terms of optimizing capital allocation and maximizing shareholder value, including the continuation of its annual dividend program as well as opportunistic share repurchases under the Company’s existing common stock repurchase authorization.

In support of the Company’s vision and continued transformation, 
Comtech, White Hat and Magnetar have jointly agreed to appoint  Mark Quinlan to the Company’s Board of Directors in conjunction with the previously announced Chief Executive Officer (“CEO”) succession.  Mr. Quinlan is White Hat’s Co-Founder and Managing Partner and has more than 20 years of experience in the technology sector. Upon the appointments of  Mr. Quinlan and  Michael Porcelain, Comtech’s President and Chief Operating Officer (“COO”) and incoming CEO, to the Comtech Board of Directors, the Board will comprise seven (7) members, five (5) of whom are independent.

“We are grateful for this significant investment and endorsement of our strategy and team by sophisticated investors with deep technology experience and relationships,” said Comtech’s current Chairman and CEO,  Fred Kornberg. “As an existing 
Comtech shareholder with a long-term investment horizon, White Hat understands our Company and the markets we serve. With White Hat’s track record of successfully advising technology companies at key inflection points, and Magnetar’s breadth of experience in the public markets, we are excited to strengthen our relationship with them as we enter this new phase of growth.”

Mr. Porcelain, President and COO of 
Comtech and incoming CEO added: “With this investment, we have significantly improved our ability to execute on our previously announced plans that build on customer demand and large sector trends in public safety infrastructure. We are excited by the opportunities we see in both the satellite earth station and public safety markets. White Hat and Magnetar have demonstrated deep understanding of our business, technology, core markets and growth drivers. We believe this partnership is a strong vote of confidence in our vision, our operations, and in our ability to create sustainable long-term value for all of Comtech’s stakeholders.”

“Magnetar and White Hat fully support Comtech’s strategy and the recently announced and well-thought-out leadership transition plan,” said  Mr. Quinlan, White Hat Co-Founder. “We applaud the recent actions taken by the Board and management to strengthen corporate governance, increase diversity of views, and enhance shareholder value. We believe 
Comtech is uniquely positioned to capitalize on accelerating demand for space-based communications solutions and leverage its installed base of public safety customers to drive incremental growth in recurring revenue. We look forward to this next chapter of Comtech’s growth, building on its history of designing and delivering innovative communications solutions to meet the evolving needs of both government and commercial customers around the world.”

Summary of Investment Terms

White Hat and Magnetar will initially purchase 
$100.0 million of convertible preferred stock, which will be convertible into shares of 
Comtech common stock at a conversion price of 
$24.50 per share, subject to potential adjustment to 
$26.00 per share based on the Company’s fiscal 2022 financial performance. The preferred stock carries a 6.5% dividend, which will be payable in kind or in cash at Comtech’s election. Until 
March 31, 2023, White Hat and Magnetar will have a one-time right to purchase up to an additional 
$25.0 million of convertible preferred stock, which will be convertible into shares of 
Comtech common stock at a conversion price of 
$32.00 per share. Further details will be included in the Company’s Current Report on Form 8-K to be filed with the 
Securities and Exchange Commission. That report will describe the investment in additional detail, including exhibits with copies of associated transaction documentation.

Comtech expects the investment to close in 
October 2021, subject to customary closing conditions.

Goldman Sachs & Co. LLC is serving as exclusive financial advisor to 
Comtech and 
Proskauer Rose LLP is serving as Comtech’s legal advisor. 
Willkie Farr & Gallagher LLP is serving as legal advisor to Magnetar and 
Schulte Roth & Zabel LLP is serving as legal advisor to White Hat.

About Comtech

Comtech Telecommunications Corp. is a leading global provider of next-generation 911 emergency systems and secure wireless communications technologies to commercial and government customers around the world. Headquartered in 
Melville, New York and with a passion for customer success, 
Comtech designs, produces and markets advanced and secure wireless solutions. For more information, visit www.comtechtel.com.

About White Hat

Founded in 2016, 
White Hat Capital Partners LP focuses exclusively on concentrated, value-oriented investments in publicly-traded technology companies. White Hat constructively partners with its portfolio companies to improve strategy and capital allocation decisions, implement operational efficiencies and strengthen governance, all with a view toward improving corporate competitiveness and creating shareholder value. For more information, visit www.whitehatcp.com.

About Magnetar

Founded in 2005, 
Magnetar Capital is a multi-strategy alternative investment manager with approximately 
$13.8 billion of assets under management as of 
June 30, 2021. Magnetar seeks to achieve stable risk-adjusted returns by opportunistically employing a wide-range of alternative credit and fixed income, energy and infrastructure, and systematic investing strategies. Magnetar invests across regions and business structures, in both public and private markets, taking advantage of the deep rigor of fundamental and quantitative analysis. The firm is based in 
Evanston, Illinois, with additional offices in 
London and 
Houston. For more information, visit www.magnetar.com.

Forward-Looking Statements

This press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties, including with respect to the offering of securities, the intended use of proceeds, and the Board and management changes described above. No assurance can be given that the transaction will be completed on the terms described, or at all, or that the proceeds from the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, risks, and uncertainties, many of which are beyond the control of the Company, including those identified in the Company’s filings with the 
Securities and Exchange Commission. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in 
Securities and Exchange Commission filings. The Company undertakes no obligation to release publicly any updates or revisions to any forward-looking statements contained herein except as required by law.

Media Contact
Kekst CNC
Nicholas.Capuano@kekstcnc.com
(212) 521-4800

Investor Contact
Comtech Investor Relations
Investors@comtech.com
(631) 962-7005

Source: 
Comtech Telecommunications Corp.

DLH (DLHC) – Wins Additional Contract in Alaska Raising PT

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Monday, October 18, 2021

DLH (DLHC)
Wins Additional Contract in Alaska; Raising PT

DLH Holdings Corp is a provider of technology-enabled business process outsourcing and program management solutions in the United States. The company offers services to several government agencies which include the Department of veteran affairs, Department of health and human services, Department of Defense and other government agencies. It operates primarily through prime contracts and also derives its revenue from agencies of the federal government, primarily as a prime contractor but also as a subcontractor to other Federal prime contractors.

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.

    New Award. Late last week, DLH announced it has been awarded a contract to provide experienced medical personnel to support COVID-19 community testing and collection, vaccination, and monoclonal antibody therapy throughout the state of Alaska. The award complements the September 23rd contract for emergency medical services in the state.

    Details.  The contract, procured under a Federal Emergency Management Agency (FEMA) contract to provide support for states seeking medical support during the COVID-19 pandemic, has a ceiling value of $20 million for the 90-day base period. It provides for three one-month optional extensions after the initial period of performance. As the prime contractor, DLH will provide the emergency medical …



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. 

Chakana Copper Corp (CHKKF)(PERU:CA) – Favorable Drill Results Keep Coming

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Friday, October 15, 2021

Chakana Copper Corp (CHKKF)(PERU:CA)
Favorable Drill Results Keep Coming

Noble Capital Markets research on Chakana Copper Corp is published under ticker symbols CHKKF and PERU:CA. The price target is in USD and based on ticker symbol CHKKF. Chakana Copper Corp is a Canadian-based minerals exploration company that is currently advancing the high-grade gold-copper-silver Soledad Project located in the Ancash region of Peru, a highly favorable mining jurisdiction with supportive communities. The Soledad Project consists of high-grade gold-copper-silver mineralization hosted in tourmaline breccia pipes. A total of 33,353 metres of drilling has been completed to-date, testing nine (9) of twenty-three (23) confirmed breccia pipes with more than 92 total targets. Chakana’s investors are uniquely positioned as the Soledad Project provides exposure to several metals including copper, gold, and silver.

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

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

    Meaningful Bx 5 drill results. Chakana Copper released results for fourteen resource definition holes drilled in Breccia Bx 5. Recall Bx 5 is one of six breccia pipes that will support Chakana’s initial resource estimate. All holes intersected mineralization and the results confirmed shallow mineralization in the upper western half of the breccia pipe and deeper extents of mineralization. For example, Hole SDG21-226 returned 1.44 grams of gold per tonne, 13.2 grams of silver per tonne, and 0.66% copper over 157 meters, while Hole SDH21-229 returned 1.17 grams of gold per tonne, 0.55% copper, and 19.2 grams of silver per tonne over 268 meters.

    Geophysical surveys will inform exploration drilling.  Gradient-array induced-polarization (IP) surveys have been done over 90% of the 12-square kilometer Soledad mineral system. Off-set IP surveying will follow to identify new targets and prioritize existing targets. We expect exploration drilling will resume at…



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. 

Great Lakes Dredge & Dock (GLDD) – Incremental Awards of $24.6 million Announced

Posted on by Admin

Friday, October 15, 2021

Great Lakes Dredge & Dock (GLDD)
Incremental Awards of $24.6 million Announced

Great Lakes Dredge & Dock Corp is a provider of dredging services in the United States. The company only’s operating segments is Dredging. Dredging involves the enhancement or preservation of navigability of waterways or the protection of shorelines through the removal or replenishment of soil, sand or rock. Its projects portfolio includes Coastal Restoration, Coastal Protection, Port expansion, and others.

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

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

    Final awards of $88.1 million announced, including known awards of $54.5 million and new work of $24.6 million. Four awards for $71.0 million will add to 3Q2021 backlog and the other work for $17.1 million will add to 4Q2021 backlog.  Please note that three awards were previously discussed in research notes so Oak Island Renourishment ($17.1 million) and Mobile Harbor ($7.5 million) were incremental awards.

    3Q2021 awards now total $308.0 million. Three of four announced 3Q2021 awards were known and included in previous 3Q2021 award estimate  3Q2021 backlog will include Sea Bright to Manasquan, Portsmouth Harbor, South Hutchinson Island, and Mobile Harbor project for $71.0 million. Combined with previously announced 3Q2021 awards of $237.0 million, 3Q2021 awards now total $308.0 million, or close to our previous estimate of $302.9 million. Expanded work of $7.5 million in Mobile Harbor more than offset reduction of…



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. 

Grindrod Shipping (GRIN) – Expected Solid Finish to Year Warrants Higher Target

Posted on by Admin

Friday, October 15, 2021

Grindrod Shipping (GRIN)
Expected Solid Finish to Year Warrants Higher Target

Grindrod Shipping, originated in South Africa with roots dating back to 1910. The company is based in Singapore, with offices around the world including, London, Durban, Cape Town, Tokyo and Rotterdam. Its primary listing is on Nasdaq and secondary listing on the JSE.

Grindrod Shipping owns and operates a diversified fleet of owned, long-term chartered and joint-venture dry-bulk and liquid-bulk vessels across the globe.

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

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

    Dry bulk market thesis intact. Hard to avoid volatility, but intermediate outlook remains promising.  Dry bulk TCE rates have moved higher on firm demand plus port congestion and coal shortages. Also, the order book remains muted, and the new carbon emission regulations (EEXI) in January 2023 could trigger slow steaming that effectively lowers supply. While Chinese industry could be curtailed ahead of 2022 Winter Olympics and volatility/seasonality is possible, there is no doubt that dry bulk bulk rates have been higher than expected. Comments from last Tuesday’s Capital Link Dry Bulk Sector Panel reinforced our positive view.

    3Q2021 forward cover was high at 75%, but commercial strategy should capture higher 4Q2021 TCE rates. Increasing 2021 EBITDA estimate to $182.4 million from $158.8 million.  Our 3Q2021 EBITDA estimate increases slightly to $61.9 million based on TCE rates of $31.3k/day for Supras/Ultras and $25.9k/day for Handys. Our 4Q2021 EBITDA moves much higher to $65.2 million based on…



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. 

Release – Sierra Metals to Release Q3-2021 Consolidated Financial Results on Monday, November 8th, 2021

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Sierra Metals to Release Q3-2021 Consolidated Financial Results on Monday, November 8th, 2021

 

Shareholder Conference Call and Webcast will also be held on Tuesday, November 9th, 2021


TORONTO–(BUSINESS WIRE)–Sierra Metals Inc. (TSX: SMT) (NYSE American: SMTS) (BVL: SMT) (“Sierra Metals” or the “Company”) will release Q3-2021 financial results on Monday, November 8th, 2021, after Market Close. Senior Management will also host a webcast and conference call on Tuesday, November 9th, 2021, at 10:30am EST. 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:

https://event.on24.com/wcc/r/3408832/5D1D447434FB0425E6DE1CDA1E5662AF

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.

Canada dial-in number (Toll Free): 1 833 950 0062
Canada dial-in number (Local): 1 226 828 7575
United States: 1 844 200 6205
United States (Local): 1 646 904 5544
All other locations: +1 929 526 1599

Access code: 049437

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

About Sierra Metals

Sierra Metals Inc. is a diversified Canadian mining company focused on the production and development of precious and base metals from its polymetallic 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 2020 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.

Contacts

Mike McAllister
Vice President, 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

QuickChek – October 15, 2021

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Sierra Metals to Release Q3-2021 Consolidated Financial Results on Monday, November 8th, 2021

Sierra Metals will release Q3-2021 financial results on Monday, November 8th, 2021, after Market Close. Senior Management will also host a webcast and conference call on Tuesday, November 9th, 2021, at 10:30am EST.

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Corruption at the World Bank?

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	Image Credit: World Bank Photo Collection (flickr)

Scandal Involving World Bank’s ‘Doing Business’ Index Exposes Problems in Using Sports-like Rankings to Guide Development Goals

The World Bank, a behemoth of an organization that provides tens of billions of dollars in aid to mostly developing countries, is in the middle of one of its biggest scandals since being founded in 1944.

The crux of the crisis relates to its Doing Business Index, which ranks the ease of opening and operating companies in 190 countries. In September 2021, an investigation alleged that senior leadership at the bank manipulated the index’s data in response to pressure from China and Saudi Arabia.

The scandal has already caused the bank to suspend publication of the index and prompted calls for further investigations. Some have also demanded the resignations of officials identified in the report, such as Kristalina Georgieva, who was formerly CEO at the World Bank and now heads the International Monetary Fund.

 

This article was republished with permission from  The Conversation, a news site dedicated to sharing ideas from academic experts. It represents the research-based findings and thoughts of  
Fernanda G Nicola, Professor of Law, American University

 

I’m a comparative legal scholar who studies the rule of law in multilateral institutions like the World Bank. As I show in my forthcoming book on the topic, I believe the real problem here is less about whether or not officials meddled, and more about the problematic role the Doing Business Index and similar indicators play in aid to developing countries.

 

Everyone
Wants to Win

The World Bank’s Doing Business Index ranks countries around the world across 11 different economic indicators, such as registering property and paying taxes, and has become an authoritative source for international business and funding decisions since its inception in 2002. It’s akin to U.S. News and World Report’s rankings of colleges, countries and other categories.

A change in a country’s rankings can have a huge impact on how much money it receives from foreign investors. The World Bank has found that a 1 percentage point improvement in a country’s overall Doing Business score correlates with US$250 million to $500 million in additional foreign direct investment.

The main idea behind the ranking system was that it would be very simple for politicians, journalists and others to use, and therefore publicity surrounding it would prompt reforms.

“The main advantage of showing a single rank,” according to a 2005 World Bank staff report, is “as in sports, once you start keeping score everyone wants to win.”

And in effect, even though the World Bank technically has no mandate to guide countries’ regulatory regimes, in practice its index has had significant influence on how governments behave. For example, countries in Latin America and Africa have restructured their entire corporate governance regimes to fit Doing Business’ one-size-fits-all reforms.

But this wide influence has a negative side, as it serves as an incentive for governments to try to “game the system – or corrupt it,” as The Washington Post editorial board put it recently.

 

 

Problems
with Doing Business

The most recent Doing Business scandal began around June 2020, when employees began spotting data irregularities in two recent reports.

In January 2021, the law firm WilmerHale was asked to investigate. On Sept. 15, Wilmerhale said it found that senior World Bank leadership pressured employees to improve China’s Doing Business ranking in the 2018 report as it sought Beijing’s support for a major capital injection. The law firm also found problems with changes to rankings of Saudi Arabia, the United Arab Emirates and Azerbaijan in the 2020 report but didn’t blame senior leaders directly.

But a big part of the problem here is that the rankings incentivize this kind of behavior, often because not all countries can enact the market-friendly legal reforms required to rise up.

One way they can do this is by paying the World Bank fees for “reimbursable advisory services,” such as advice on how to better implement the kinds of reforms it favors. Of course, it is not hard to see the potential for institutional conflict of interest and corruption here. The report noted that both China and Saudi Arabia made extensive use of these contracts while pressuring bank officials to change their rankings.

The bigger concerns about the Doing Business Index is more fundamental. Comparative legal scholars, including me, have found that the legal reforms favored by the index always appear biased in favor of systems based on common law followed by countries such as the U.S. and U.K.

For instance, France, one of the world’s largest economies operating under a civil legal code, has performed rather poorly in the initial rankings because of low scores on the “registering property” and “getting credit” metrics. And, in turn, that means countries such as Algeria, Lebanon and Indonesia that built legal systems based on France or other non-Anglo legal traditions are also unfairly hurt by the rankings.

The rankings have been controversial since their very launch. Joseph Stiglitz, who was chief economist at the World Bank in the late 1990s, said in a recent op-ed that he thought it was a “terrible product” from the beginning.

“Countries received good ratings for low corporate taxes and weak labor regulations,” he wrote. “The numbers were always squishy, with small changes in the data having potentially large effects on the rankings. Countries were inevitably upset when seemingly arbitrary decisions caused them to slide in the rankings.”

In other words, the Doing Business Index ends up pushing countries toward a shareholder-focused corporate and business model molded on U.S.-style capitalism. This is at odds with many other models, such as those in Japan and Germany, that put more emphasis on workers and social goals like gender equality. Corporate governance scholars have found these may be better models for some countries than U.S.-style capitalism.

 

Does it
Deserve to Die?

The recent scandal underscores the degree to which the index doesn’t square with the bank’s wider purpose.

 

The World Bank’s stated mission is to “end extreme poverty and promote shared prosperity.” It was set up in the wake of the Second World War to achieve this mission through financing agreements with developing countries.

The Doing Business Index fails in this purpose because it compels governments to commit to “transplanted” legal reforms that may not be right for those countries, and in fact may end up backfiring and delivering bad outcomes for residents.

I’m not sure whether the index “deserves to die” or should be reformed and shifted to another institution, such as a university, but I do believe its time at the World Bank is likely coming to an end.

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