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Sierra Metals (SMTS)(SMT:CA) – Copper Prices Strengthen in 2021 Updating Estimates

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Wednesday, March 10, 2021

Sierra Metals (SMTS)(SMT:CA)
Copper Prices Strengthen in 2021; Updating Estimates

As of April 24, 2020, Noble Capital Markets research on Sierra Metals is published under ticker symbols (SMTS and SMT:CA). The price target is in USD and based on ticker symbol SMTS. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target.

Sierra Metals Inc is a precious and base metals producer in Latin America. The company acquires, explores, extracts, and produces mineral concentrates consisting of silver, copper, lead, zinc and gold in Mexico and Peru. Its activity includes the operation of the Yauricocha Mine in Peru, and the Bolivar and Cusi mines in Mexico. Yauricocha is an underground polymetallic mine using the sublevel block caving and cut-and-fill mining methods. Bolivar is a copper-silver-zinc-gold underground mine using room-and-pillar mining method. The majority of the revenue is earned by selling of the mineral concentrates to its customers in Peru.

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

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

    Updating estimates. While our 2020 estimates are unchanged, we are increasing our 2021 EPS and EBITDA estimates to $0.40 and $180.1 million from $0.38 and $175.2 million, respectively. Our revised estimates reflect changes to our 2021 price deck including higher copper prices, along with lower gold prices. We have also made modest adjustments to our production estimates within the company’s guidance range.

    Fundamentals appear favorable.  Base metals prices appear to be responding to increased demand expectations as markets recover and economic growth accelerates. Year to date through March 9, copper futures prices are up 14%. Secular themes including trends toward electrification favor metals used in electric vehicle batteries, charging stations, and solar and renewable …



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. 

InPlay Oil (IPOOF)(IPO:CA) – Estimates Raised to Reflect New Price Deck

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Wednesday, March 10, 2021

InPlay Oil (IPOOF)(IPO:CA)
Estimates Raised to Reflect New Price Deck

As of April 24, 2020, Noble Capital Markets research on InPlay Oil is published under ticker symbols (IPOOF and IPO:CA). The price target is in USD and based on ticker symbol IPOOF. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target. InPlay Oil is a junior oil and gas exploration and production company with operations in Alberta focused on light oil production. The company operates long-lived, low-decline properties with drilling development and enhanced oil recovery potential as well as undeveloped lands with exploration possibilities. The common shares of InPlay trade on the Toronto Stock Exchange under the symbol IPO and the OTCQZ Exchange under the symbol IPOOF.

Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.

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

    We are raising our oil price estimates. We have increased our 2020-4Q WTI oil price estimate to $55 from $45 and our 2021 WTI oil price estimate to $60 from $50. Our long-term oil price forecast remains at $50. IPOOF is expected to release 4Q and 2020 results on March 17.

    Higher oil prices means higher revenues and earnings.  We are increasing our 2020-4Q revenues and earnings estimate to C$14.5 million (up from C$11.9 million) and C$0.00 per share (up from -C$0.04), respectively. We are also increasing our 2021 revenue and earnings estimates to C$70.5 million (up from C$62.3) and C$0.14 per share (up from -C$0.10) …



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. 

What to Look for in Mining Stocks in 2021

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What Metals Prices Can Tell Us About the Economy

 

Mining investors are often lumped into one of two camps. First are investors that seek to capitalize on cyclical stories, such as for base metals whose prices generally respond to increasing demand because of accelerating economic growth. Second are precious metals investors that tend to invest in gold or silver as a store of value or hedge against inflation. For these investors, monetary and fiscal policies, along with relative currency values, are important. Perhaps more so than silver, gold is often a safety play in times of uncertainty. Silver straddles both spheres since it is prized for its industrial properties but is also considered an alternative to gold for precious metals investors on a smaller budget since it generally follows upward moves in the gold price.

Base Metals Take the Lead in 2021

In 2020, precious metals prices performed their role as a haven when the global pandemic upended markets and severely crimped economic growth. While silver and gold have retained much of their gains, base metals appear to have taken the lead in 2021 as markets recover and economic growth accelerates. While silver and gold futures prices are down 11.3% and 4.5% year-to-date, respectively, copper, lead, and zinc futures prices are up 16.2%, 5.6%, and 1.9%, respectively. With metals production impacted by COVID-related work restrictions in 2020, supply and demand fundamentals appear supportive of prices. Secular themes, including trends toward electrification, favor metals used in electric vehicle batteries, charging stations, and solar and renewable power technologies. These include copper, nickel, and silver, among others.

Gold as a Hedge Against Inflation and Black Swans

While precious metals, notably gold, worked as a flight to safety play in 2020, gold prices have yet to signal deep concern about inflation despite record monetary and fiscal stimulus. In early March, the U.S. Senate passed a $1.9 trillion relief package, with the U.S. House of Representatives expected to vote on the bill this week. For its part, the Federal Reserve remains committed to accommodative monetary policies as it seeks to achieve its goals with respect to price stability (inflation) and employment.

The Federal Reserve has already indicated a desire for inflation to average 2% and a willingness to go above to meet the target. As a result, bond yields have risen, with the 10-year Treasury yielding 1.6% versus 0.92% at the end of 2020. This is likely a function of economic and growth expectations. So far, the Fed seems unconcerned about the prospect of runaway inflation, and Treasury Secretary Janet Yellen, formerly Chair of the Federal Reserve, noted that inflation was not increasing prior to the pandemic when the unemployment rate was a low 3.5%. She said policymakers will be monitoring the situation closely and will be prepared to act if inflation becomes a problem.

Another headwind for gold has been a strong U.S. dollar. Despite falling 6.7% in 2020, the U.S. Dollar Index has risen 2.63% since the end of 2020 to finish at 92.31 on March 8. Given that countries around the globe are pursuing similar monetary and fiscal policies, the dollar is likely to remain strong relative to other currencies.

Conclusion

Taking these facts into consideration, investors could consider adding base metals mining stocks to their portfolios as a way to benefit from growing demand as global economic growth accelerates.  And for exposure to greater infrastructure spending and secular trends, changes which bode well for metals linked to the theme of electrification.

With respect to gold, the near-term outlook is a little less certain, with perhaps greater volatility on the horizon as speculative interest dissipates. While the Federal Reserve likely has the tools necessary to combat a sharp rise in inflation, interest rates are likely to remain relatively lower for longer, and gold’s value could be supported as investors seek it as a store of value. Because both inflation and nominal yields are expected to rise moderately in 2021, investors should pay more attention to real yields (nominal yield less inflation), which could in some cases be negative. Lastly, allocations to precious metals and associated equities make sense as a precaution against unexpected events that could materialize, including misjudgment by the Fed, a broad sell-off of equities, or any other events that increase uncertainty and angst among investors.

Additionally, metals prices are up when compared with year-end 2019, and mining companies should be profitable at these levels. Moreover, high-quality reserves in favorable mining jurisdictions are becoming increasingly scarce, and merger and acquisition activity could accelerate as larger producers seek to replenish and grow resources and reserves by acquiring juniors. Therefore, investors could benefit by allocating capital to both producers and junior exploration companies.     

Suggested Reading:

Can Mining be “Green” and Sustainable? What
is the Future of Entertainment Consumption?


The
Correlation Between Stocks and Unemployment 		Metals & Mining Fourth Quarter 2020 Review and Outlook


 

Sources:

House Set to Take Up $1.9 Trillion Stimulus, Putting Biden on Track to Sign This Week, The Washington Post, Tony Room and Jeff Stein, March 8, 2021.

Yellen Plays Down Inflation Fears, Associated Press, U.S. News & World Report, Martin Crutsinger, March 8, 2021.

Hedge Funds Continue to Unload Their Bullish Gold Bets as Fed Remains Indifferent to Rising Bond Yields, KITCO, Neils Christensen, March 8, 2021.

Relentless U.S. Dollar Rally Continues as Yields Top 1.6%, FXSTREET, Kathy Lien, March 8, 2021.

 

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Release – Ely Gold (ELYGF)(ELY:CA) – Sells Claim located on the Hercules Gold Property Nevada

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Ely Gold Royalties Sells Claim located on the Hercules Gold Property, Nevada

 

Strategic District Scale Property Currently Being Explored by Northern Vertex Ely Gold Retains 2% NSR on J & M Lode Claim

Vancouver, British Columbia–(Newsfile Corp. – March 9, 2021) – Ely Gold Royalties Inc. (TSXV: ELY) (OTCQX: ELYGF) (“Ely Gold“) is pleased to announce that through its wholly-owned subsidiary, Nevada Select Royalty Inc, it has completed a Sale Agreement with Northern Vertex Mining Corp (“Northern Vertex” formerly Eclipse Gold Mining Corporation) whereby Northern Vertex has purchased one lode mining claim (the “J & M Claim“) within their Hercules Gold Property ( “Hercules” or the “Property“) located in the Walker Lane Trend, Nevada. Eclipse Gold Mining merged with Northern Vertex Mining Corp effective February 12, 2021.

Ely Gold had previously purchased the J & M Claim from a third party for US$20,000 and sold it to Northern Vertex for the same amount with Ely Gold retaining a 2.00% Net Smelter Royalty (“NSR”).

Hercules Gold Property

Northern Vertex is exploring the district-scale Hercules Gold Property which is located approximately a one hour drive from Reno and has all the characteristics of a large, low-sulphidation epithermal gold system.

Ely Gold’s strategic claim is located between the West Cliffs and Hercules structural zones (see Figure 1) of Hercules. Both zones are east dipping and south plunging with potential for additional mineralization down dip on the faults and veins exposed at surface within these zones. The West Cliffs structural zone is the most continuous zone of alteration in the project area and potential for additional mineralization exists to the east of this zone. The J & M Lode claim is located in an area of post mineral cover with the potential for a southwestern extension to the Hercules structural zone to exist beneath the cover as well as deeper mineralization associated with the down dip extension of the West Cliffs zone. Mineralization in both zones plunges southward and possibly indicates an additional structural intersection zone in the vicinity of the J & M claim.

Jerry Baughman, President of Nevada Select commented, “We are very pleased to add Northern Vertex to our list of experienced counter-parties exploring our Nevada asset portfolio. This transaction is a testament to our ability to make third-party property purchases due to our long-standing relationships throughout Nevada.”

Gold mineralization in both the West Cliffs and Hercules zones primarily occurs as banded and brecciated quartz veins indicating multiple episodes of faulting and hydrothermal activity related to gold deposition. Stockwork zones and strongly silicified rocks occur adjacent to the high-angle quartz veins and host disseminated gold mineralization as well. Low angle zones of gold mineralization occur between the high angle veins and structures indicating additional mineralization potential to the east and west of the outcropping high angle veins and structures.

Reverse circulation (RC) drilling at West Cliffs returned 74.68 meters of 0.54ppm gold and 4.78 ppm silver. At Hercules, RC drilling returned 89.92 meters of 0.65 ppm gold and 12.51ppm silver 1.

1.MDA Amended Technical Report Lyon County, Nevada at the following link: https://eclipsegoldmining.com/site/assets/files/1497/eclipse-43101.pdf

Qualified Person

Stephen Kenwood, P. Geo, is director of the Company and a Qualified Person as defined by NI 43-101. Mr. Kenwood has reviewed and approved the technical information in this press release.

About Ely Gold Royalties Inc.

Ely Gold Royalties Inc. is a Nevada focused gold royalty company. Its current portfolio includes royalties at Jerritt Canyon, Goldstrike and Marigold, three of Nevada’s largest gold mines, as well as the Fenelon mine in Quebec, operated by Wallbridge Mining. The Company continues to actively seek opportunities to purchase producing or near-term producing royalties. Ely Gold also generates development royalties through property sales on projects that are located at or near producing mines. Management believes that due to the Company’s ability to locate and purchase third-party royalties, its strategy of organically creating royalties and its gold focus, Ely Gold offers shareholders a favourable leverage to gold prices and low-cost access to long-term gold royalties in safe mining jurisdictions.

On Behalf of the Board of Directors
Signed “Trey Wasser”
Trey Wasser, President & CEO

For further information, please contact:

Trey Wasser, President & CEO
[email protected]

972-803-3087

Joanne Jobin, Investor Relations Officer
[email protected]

647-964-0292

FORWARD-LOOKING CAUTIONS: This press release contains certain “forward-looking statements” within the meaning of Canadian securities legislation, including, but not limited to, statements regarding completion of the Transaction. Forwardlooking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “aims,” “potential,” “goal,” “objective,” “prospective,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the Company’s inability to control whether the buy-down right will ever be exercised, and whether the right of first refusal will ever be triggered, uncertainty as to whether any mining will occur on the property covered by the Probe Royalty such that the Company will receive any payment therefrom, and the general risks and uncertainties relating to the mineral exploration, development and production business. The reader is urged to refer to the Company’s reports, publicly available through the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effect.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Figure 1

Source: Ely Gold Royalties

Release – Great Bear Resources (GTBAF) – Adds Gilbert Lawson to Board of Directors

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Great Bear Adds Gilbert Lawson to Board of Directors

 

March 8, 2021 – Vancouver, British Columbia, Canada – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR; OTCQX: GTBAF) is pleased to announce the addition of Mr. Gilbert Lawson, P.Eng. to its Board of Directors.

Mr. Lawson is a Professional Mining Engineer with over 34 years of production and management experience, holding positions including:

  • Chief Operating Officer of TMAC Resources Inc., overseeing operations at the Hope Bay mine in Nunavut, until its acquisition by Agnico Eagle Mines Ltd.
  • Vice President, Geology & Mine Planning for global operations, and Vice President, Operational Support for Canada and the United States at Goldcorp Inc., overseeing and evaluating geological modeling, mine planning, feasibility studies, and a portfolio of major mining operations.
  • Mine Manager and Project & Business Development Manager at the Campbell Mine in Red Lake Ontario, now part of the Red Lake Mine Complex operated by Evolution Mining Ltd.
  • Chief Engineer, Mine Manager and Mine General Manager at the Musselwhite Mine in Ontario, now operated by Newmont Corp.

Experience especially relevant to Great Bear’s Dixie project includes managing operations at both the Musselwhite and Campbell Mines, which are two of the largest gold mines in Ontario. Mr. Lawson was also instrumental in establishing Wataynikaneyap Power, a First Nations owned power transmission company linking numerous First Nations communities and the Musselwhite mine in northwestern Ontario.

Mr. Lawson has a detailed understanding of all stages of mine construction and operations, from resource definition and economic studies, to mine permitting, ore extraction, processing, environmental monitoring and site reclamation. He also has a proven track record of successful community and governmental relations, and as a resident of northwestern Ontario, is familiar with local stakeholder concerns and interests.

Mr. Lawson said, “I am proud to join Great Bear as a member of the team and contribute to the unfolding of the next great deposit in the Red Lake district. Having worked and lived in northwestern Ontario and the Red Lake belt for many years, I have a unique perspective of this area and how to help blend the geological endowment, technology and people to build a major gold operation to benefit the surrounding communities and our shareholders. From my initial review of the Dixie data, there are clear similarities to some of the famous mines in this camp, yet at the same time it has a uniqueness with no analogy in other Archean systems. It is rare to find a gold deposit with both predictable mineralization stretched over several kilometres, and with high grades with visible gold, which is a trademark of the camp. I am looking forward to the commencement of the resource modeling and engineering studies to find the optimal mine design and help build a great project.”

Chris Taylor, President and CEO of Great Bear said, “Mr. Lawson began his career as an underground miner at the Dome mine in Ontario, and progressed through engineering and mine management positions to COO, working at many of North America’s leading operations. Mr. Lawson knows our rocks, knows our people, knows our neighbouring communities, and knows how to build and operate the kind of major project we believe Dixie has the potential to become. We’re very pleased to have him join our team and believe his expertise will be of enormous benefit to our shareholders.”

The Company also reports it has granted an aggregate of 150,000 stock options to a director of the Company, exercisable at $13.98 per share for a period of five years. The options are subject to a four month hold period.

About the Dixie Project

The Dixie Project is 100% owned, comprised of 9,140 hectares of contiguous claims that extend over 22 kilometres, and is located approximately 25 kilometres southeast of the town of Red Lake, Ontario. The project is accessible year-round via a 15 minute drive on a paved highway which runs the length of the northern claim boundary and a network of well-maintained logging roads.

The Dixie Project hosts two principal styles of gold mineralization:

  • High-grade gold in quartz veins and silica-sulphide replacement zones (Dixie Limb, Hinge and Arrow zones). Hosted by mafic volcanic rocks and localized near regional-scale D2 fold axes. These mineralization styles are also typical of the significant mined deposits of the Red Lake district.
  • High-grade disseminated gold with broad moderate to lower grade envelopes (LP Fault). The LP Fault is a significant gold-hosting structure which has been seismically imaged to extend to 14 kilometres depth (Zeng and Calvert, 2006), and has been interpreted by Great Bear to have up to 18 kilometres of strike length on the Dixie property. High-grade gold mineralization is controlled by structural and geological contacts, and moderate to lower-grade disseminated gold surrounds and flanks the high-grade intervals. The dominant gold-hosting stratigraphy consists of felsic sediments and volcanic units.

About Great Bear

Great Bear Resources Ltd. is a well-financed gold exploration company managed by a team with a track record of success in mineral exploration. Great Bear is focused in the prolific Red Lake gold district in northwest Ontario, where the company controls over 330 km2 of highly prospective tenure across 5 projects: the flagship Dixie Project (100% owned), the Pakwash Property (earning a 100% interest), the Dedee Property (earning a 100% interest), the Sobel Property (earning a 100% interest), and the Red Lake North Property (earning a 100% interest) all of which are accessible year-round through existing roads.

Qualified Person and NI 43-101 Disclosure

Mr. R. Bob Singh, P.Geo, VP Exploration, and Ms. Andrea Diakow P.Geo, Exploration Manager for Great Bear are the Qualified Persons as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.

ON BEHALF OF THE BOARD

“Chris Taylor”
 Chris Taylor, President and CEO

Investor Inquiries:
 Mr. Knox Henderson
Tel: 604-646-8354
Direct: 604-551-2360
[email protected]

www.greatbearresources.ca

Cautionary note regarding forward-looking statements

This release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes.



Forward-looking information are based on management of the parties’ reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect.



Such factors, among other things, include: impacts arising from the global disruption caused by the Covid-19 coronavirus outbreak, business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold or certain other commodities; change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); discrepancies between actual and estimated metallurgical recoveries; inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties.



Great Bear undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

SOURCE: Great Bear Resources

Release – Golden Predator Mining (NTGSF)(GPY:CA) – To Present at 2021 Annual PDAC Conference

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Tr’ondëk Hwëch’in Chief & Golden Predator CEO Present at 2021 Annual PDAC Conference

 

Please join Chief Roberta Joseph, Tr’ondëk Hwëch’in, and Janet Lee-Sheriff, Golden Predator Mining Corp’s Chief Executive Officer, as they present at the 2021 Annual Prospectors & Developers Association of Canada (PDAC) Conference. The session will be held online on Wednesday March 10, 2021 from 11:30AM -12:30PM EST and is focused on planting the seeds for engagement, looking at engagement from the lens of both the First Nation government and the exploration/mining company.

PDAC hosts the world’s premier mining and exploration conference annually in Toronto, this year attendees from around the world will attend online due to Covid travel restriction. For more information on the session and on the PDAC Annual Conference please visit:

https://www.pdac.ca/convention/programming/sustainability-program/sessions/sustainability-program/planting-the-seeds-to-grassroots-engagement-what-does-engagement-look-like-at-each-stage-of-the-mining-sequence

About Tr’ondëk Hwëch’in

The Tr’ondëk Hwëch’in are a Yukon First Nation based in Dawson City, Yukon. The citizenship of roughly 1,100 includes descendants of the Hän-speaking people, who have lived along the Yukon River for millennia, and a diverse mix of families descended from Gwich’in, Northern Tutchone and other language groups. Yukon First Nations set the land-claims process in motion during the 1970s. Tr’ondëk Hwëch’in began negotiating their individual land claim in 1991. The Tr’ondëk Hwëch’in Final Agreement was signed on July 16, 1998, and came into effect on September 15, 1998.

The Tr’ondëk Hwëch’in government ensures a strong and healthy future for citizens while maintaining connections to traditional knowledge and the land. The First Nation is governed by an elected Chief and one Deputy Chief and three Councilors, who rely on direction from the Elders’ Council, a body comprising all Tr’ondëk Hwëch’in people aged 55 and over. The General Assembly—all voting-age citizens—gather at least once a year to pass extraordinary resolutions, approve legislation and provide direction to political leaders.

About Golden Predator Mining Corp.

Golden Predator is advancing the past-producing Brewery Creek Mine towards a timely resumption of mining activities in Canada’s Yukon. With established resources grading over 1.0 g/t gold the Company is completing a Bankable Feasibility Study for the restart of heap leach operations. The Brewery Creek Mine project operates with a Socio Economic Accord with the Tr’ondëk Hwëch’in.

For additional information on Golden Predator Mining Corp.:

Janet Lee-Sheriff
Chief Executive Officer
(604) 260-8435
[email protected]
www.goldenpredator.com

Source: Golden Predator Mining

QuickChek – March 9, 2021

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Gevo up 19% in Midday Trading

Gevo to Report Fourth Quarter 2020 Financial Results March 17th. Up 19% in midday trading.

Research, News & Market Data on Gevo

Watch recent presentation from NobleCon17



Smallcap Blockchain Stocks Up In Midday Trading


Small Cap Names in a Big Crypto Market
Blockchain, Beverages, and Baloney



Lineage Cell Therapeutics up 15% in Midday Trading

Lineage Cell Therapeutics is up 15% after raising $35.9 Million from sales of marketable securities holdings.

Research, News & Market Data on Lineage Cell Therapeutics

Watch recent presentation from NobleCon17



Indonesia Energy Mobilizes Drilling Rig to Commence Drilling

Indonesia Energy Corporation Limited announced that the company has mobilized the drilling rig to drill 3 back-to-back producing wells at its 63,000 acre Kruh Block.

Research, News & Market Data on Indonesia Energy

Watch recent presentation from NobleCon17



Energy Fuels Receives First Shipments of Natural Monazite Ore

Energy Fuels Inc. announced that it expects to commercially produce an intermediate rare earth element product at a stage more advanced than any other U.S. company.

Research, News & Market Data on Energy Fuels

Watch recent presentation from NobleCon17



David Kelley of Chakana Copper presents at the Virtual Metals Investor Forum on March 4-5, 2021

David Kelley of Chakana Copper presents at the Virtual Metals Investor Forum on March 4-5, 2021

Research, News & Market Data on Chakana Copper


Watch recent presentation from NobleCon17



Ely Gold Royalties Sells Claim located on the Hercules Gold Property, Nevada

Ely Gold Royalties Inc. announced that through its wholly-owned subsidiary, Nevada Select Royalty Inc, it has completed a Sale Agreement with Northern Vertex Mining Corp.

Research, News & Market Data on Ely Gold Royalties

Watch recent presentation from NobleCon17



Great Bear Adds Gilbert Lawson to Board of Directors

Great Bear Resources Ltd. announced the addition of Mr. Gilbert Lawson, P.Eng. to its Board of Directors. Mr. Lawson is a Professional Mining Engineer with over 34 years of production and management experience.

Research, News & Market Data on Great Bear Resources

Watch recent presentation from NobleCon17

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Release – Indonesia Energy (INDO) – Mobilizes Drilling Rig to Commence Drilling

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Indonesia Energy Mobilizes Drilling Rig to Commence Drilling

 


Plan to drill 3 Back-to-Back Production Wells at Kruh Block

JAKARTA, INDONESIA and DANVILLE, CA / ACCESSWIRE / March 9, 2021 / Indonesia Energy Corporation Limited (NYSE American:INDO) (IEC), an oil and gas exploration and production company focused on Indonesia, today announced that the company has mobilized the drilling rig to drill 3 back-to-back producing wells at its 63,000 acre Kruh Block.

Each of the 3 wells are expected to average production of 173 barrels of oil per day over the first year of production. IEC anticipates that each well will cost approximately $1.5 million to drill and complete. Based on the terms of IEC’s contract with the Indonesian government and an assumed oil price of $63.50/barrel, each well is expected to generate $3.33 million in net revenue in its first year, which is more than double the cost to drill each well.

As previously announced, IEC plans to drill a total of 5 wells in 2021, 6 wells in 2022 and 7 wells in 2023, for a total of 18 new wells on Kruh Block.

Mr. Frank Ingriselli, IEC’s President commented “We are excited to commence our production plans on the Kruh Block. These 3 new wells, which we have the cash to drill, have the potential to grow production and cash flow for our company by nearly 300%. At today’s oil price, the net cash flow we expect to receive from each of these wells, in just the first year, will be more than double the total cost to drill the wells. This is a great asset that should significantly grow our cash flow as we continue to seek to maximize returns on our investments and grow shareholder value.”

About Indonesia Energy Corporation Limited

Indonesia Energy Corporation Limited (NYSE American:INDO) is a publicly traded energy company engaged in the acquisition and development of strategic, high growth energy projects in Indonesia. IEC’s principal assets are its Kruh Block (63,000 acres) located onshore on the Island of Sumatra in Indonesia and its Citarum Block (1,000,000 acres) located onshore on the Island of Java in Indonesia. IEC is headquartered in Jakarta, Indonesia and has a representative office in Danville, California. For more information on IEC, please visit www.indo-energy.com.

Cautionary Statement Regarding Forward-Looking Statements

All statements in this press release of Indonesia Energy Corporation Limited (“IEC”) and its representatives and partners that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Acts”). In particular, when used in the preceding discussion, the words “estimates,” “believes,” “hopes,” “expects,” “intends,” “on-track”, “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Acts, and are subject to the safe harbor created by the Acts. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of the IEC’s control, that could cause actual results (including, without limitation, the anticipated results of IEC’s 2021 exploration and production activities and the impact of global oil prices as described herein) to materially and adversely differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth in the Risk Factors section of the Company’s annual report on Form 20-F for the fiscal year ended December 31, 2019 filed on June 16, 2020 with the Securities and Exchange Commission (SEC). Copies are of such documents are available on the SEC’s website, www.sec.gov. IEC undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Company Contact:

Frank C. Ingriselli
President, Indonesia Energy Corporation Limited
[email protected]

Source: Indonesia Energy Corporation Limited

Release – Energy Fuels (UUUU) – Receives First Shipments of Natural Monazite Ore

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Energy Fuels Receives First Shipments of Natural Monazite Ore; Commercial Recovery of Rare Earths Expected to Begin in U.S. in Coming Weeks

 

LAKEWOOD, Colo., March 9, 2021 /CNW/ – Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) (“Energy Fuels” or the “Company”) is pleased to announce that the first shipments of natural monazite ore arrived at the Company’s White Mesa Mill (the “Mill”) in Blanding, Utah this past weekend. This material was separated by The Chemours Company at its Offerman Mineral Sand Plant in Georgia and transported by truck to the Mill. In the coming weeks, Energy Fuels expects to gradually ramp-up production of an intermediate rare earth element (“REE”) product, called a “mixed REE carbonate.” This product will then advance to REE separation, which is the next stage in the REE value chain. Energy Fuels also expects to recover the uranium in the ore, which will be used as fuel for the generation of clean, carbon-free nuclear energy.

Upon successful ramp-up, Energy Fuels expects to commercially produce an REE product at a stage more advanced than any other U.S. company. As previously announced, Energy Fuels expects to sell its mixed REE carbonate to Neo Performance Materials (“Neo”), which will process this material at its facility in Europe and manufacture separated rare earth products available to U.S. and European markets. Energy Fuels is also continuing to evaluate developing additional value-added U.S. rare earth separation and other capabilities in Utah in the future.

Mark S. Chalmers, President and CEO of Energy Fuels stated: “Over the past few months, Energy Fuels, Neo and Chemours have quietly worked to create something very significant: a new, fully-integrated, U.S.-Europe rare earth supply chain. This weekend’s shipments of monazite ore from Chemours to Energy Fuels marks the beginning of operations for what we believe will become a burgeoning supply chain. There is a lot of excitement building for rare earths, because they make many clean energy and advanced technologies possible, including electric vehicles, wind generation, batteries and advanced electronics. Today’s announcement is a key milestone as our companies create, refine, and grow a sustainable rare earth supply chain capable of supplying growing demand for clean technologies in the U.S. and Europe.

“We believe Energy Fuels has done more to restore U.S. rare earth production in one year than others have achieved in many years. Less than one year ago, Energy Fuels announced that we were entering the U.S. rare earth space. Now, we are receiving shipments of rare earth bearing ore and are in the process of ramping up for commercial production of an intermediate rare earth product at a stage more advanced than any other U.S. company. We intend to optimize our production of a mixed rare earth carbonate and then move on to developing our own ability to manufacture separated rare earth products at our plant in Utah. Our ultimate goal is to stand-up a fully-integrated U.S. rare earth supply chain that is globally competitive, quicker than any other U.S. company.”

Monazite is one of the highest-value REE-bearing minerals in the World, containing between 50% and 60%+ REEs, along with significant quantities of recoverable natural uranium. Monazite also contains 22% – 24% NdPr (%TREO Basis), which are two of the key REEs and which are needed for many permanent REE magnet technologies used in electric vehicles (EVs) and other advanced technologies. Monazite also contains excellent distributions of “heavy” rare earths, which are needed for many advanced technologies.

Monazite is currently mined in the U.S., Australia, Africa, and elsewhere as a byproduct of heavy mineral sand operations whose main products are zircon and titanium.

Implementation of this initiative is subject to successful commercial ramp-up, execution of definitive agreements between the Company and Neo, and optimization of the companies’ production processes.

About Energy Fuels: Energy Fuels is a leading U.S.-based uranium mining company, supplying U3O8 to major nuclear utilities. The Company also produces vanadium from certain of its projects, as market conditions warrant, and expects to commence commercial production of rare earth element (“REE”) carbonate in 2021. Its corporate offices are in Lakewood, Colorado, near Denver, and all of its assets and employees are in the United States. Energy Fuels holds three of America’s key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch in-situ recovery (“ISR”) Project in Wyoming, and the Alta Mesa ISR Project in Texas. The White Mesa Mill is the only conventional uranium mill operating in the U.S. today, has a licensed capacity of over 8 million pounds of U3O8 per year, has the ability to produce vanadium when market conditions warrant, as well as REE carbonate from various uranium-bearing ores. The Nichols Ranch ISR Project is on standby and has a licensed capacity of 2 million pounds of U3O8 per year. The Alta Mesa ISR Project is also on standby and has a licensed capacity of 1.5 million pounds of U3O8 per year. In addition to the above production facilities, Energy Fuels also has one of the largest NI 43-101 compliant uranium resource portfolios in the U.S. and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. The primary trading market for Energy Fuels’ common shares is the NYSE American under the trading symbol “UUUU,” and the Company’s common shares are also listed on the Toronto Stock Exchange under the trading symbol “EFR.” Energy Fuels’ website is www.energyfuels.com.

Cautionary Note Regarding Forward-Looking Statements: This news release contains certain “Forward Looking Information” and “Forward Looking Statements” within the meaning of applicable securities legislation, which may include, but is not limited to, statements with respect to: any expectation that the Company will be successful in producing REE Carbonate on a commercial basis; any expectation that Neo will be successful in separating the Company’s REE Carbonate on a commercial basis; any expectation that Energy Fuels will be successful in developing U.S. separation or other REE production capabilities, or otherwise fully integrating the U.S REE supply chain in the future; any expectations that ramp-up to commercial-scale operations will be successful; any expectation that the Company and Neo will successfully execute definitive agreements and optimize their respective production processes; and any other statements regarding Energy Fuels’ future expectations, beliefs, goals or prospects constitute forward-looking information within the meaning of applicable securities legislation (collectively, “forward-looking statements”). All statements in this news release that are not statements of historical fact (including statements containing the words “expects,” “does not expect,” “plans,” “anticipates,” “does not anticipate,” “believes,” “intends,” “estimates,” “projects,” “potential,” “scheduled,” “forecast,” “budget” and similar expressions) should be considered forward-looking statements. All such forward-looking statements are subject to important risk factors and uncertainties, many of which are beyond Energy Fuels’ ability to control or predict. A number of important factors could cause actual results or events to differ materially from those indicated or implied by such forward-looking statements, including without limitation factors relating to: processing difficulties and upsets; available supplies of monazite sands; the ability of the Company to produce REE Carbonate to meet commercial specifications on a commercial scale at acceptable costs; the ability of Neo to separate the REE Carbonate to meet commercial specifications on a commercial scale at acceptable costs; market factors, including future demand for rare earth elements; the ability of Neo and Energy Fuels to finalize definitive agreements; and the other risk factors as described in Energy Fuels’ most recent annual report on Form 10-K and quarterly financial reports. Energy Fuels assumes no obligation to update the information in this communication, except as otherwise required by law. Additional information identifying risks and uncertainties is contained in Energy Fuels’ filings with the various securities commissions, which are available online at www.sec.gov and www.sedar.com. Forward-looking statements are provided for the purpose of providing information about the current expectations, beliefs and plans of the management of Energy Fuels relating to the future. Readers are cautioned that such statements may not be appropriate for other purposes. Readers are also cautioned not to place undue reliance on these forward-looking statements, that speak only as of the date hereof.

SOURCE Energy Fuels Inc.

For further information: Investor Inquiries: Energy Fuels Inc.: Curtis Moore, VP – Marketing and Corporate Development, (303) 974-2140 or Toll free: (888) 864-2125, [email protected]; www.energyfuels.com

What Part of the Energy Cycle Are We In?

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Private Energy Companies’ Role in the Energy Cycle

 

The energy industry is a cyclical business. Energy prices rise, causing drilling activity to increase, creating excess supply that causes energy prices to fall. When energy prices fall, companies reduce drilling, which lowers supply and causes energy prices to rise. One never knows exactly which part of the cycle we may be experiencing or when the peaks and troughs will form, only that the cycle exists. But, a closer look at the active players within each cycle component can provide insight as to the length and magnitude of the cycle.

During the down periods of an energy cycle, cash flow is low. Smaller companies with weaker balance sheets are pressured. Some go bankrupt or are forced to sell off property at low prices. Most will be forced to sharply cut back drilling to operate within their expected cash flow. Larger, less leveraged companies are in a better position to take a longer-term perspective and continue drilling under the belief that energy prices will eventually rise.

The Role of Private Companies

During the boom periods of an energy cycle, the reverse is true. Large companies flush with cash will increase drilling. But, they will focus on their most profitable projects, leaving many good projects on the planning board. This is when smaller, sometimes private companies step in. Many successful companies have been formed by mid-level managers of large companies who form new companies that buy underutilized assets of their former employers.

 

 

Energy Today

So, what part of the energy cycle are we in currently? Is the recent rise in oil (and natural gas) prices a sign that we have reached an inflection point in the cycle? Or is it merely a head fake temporarily offsetting a longer trend. Bloomberg reports that there is a resurgence of private energy operators drilling in the Permian Basin. It points out that companies like DoublePoint Energy and Mewbourne Oil Co. are operating as many rigs in the basin as larger companies such as Chevron Corp. and Exxon Mobil Corp. While such a shift toward increased drilling by private companies is normal, it is usually seen in conjunction with increased drilling by established energy companies.

The fact of the matter is that large energy companies are not responding to higher oil prices in a manner similar to past cycles. Drilling has started to rise in response to the rise in oil prices that began last November. However, the number of active rigs in the United States (402 as of 2/19/21) is only half that of a year ago (790) despite higher energy prices.

 

 

The shift towards smaller and private energy investing has created unexpected delays in the supply response to higher prices. Large, well-funded energy companies can expand the drilling of known projects quickly. Drilling by small, underfunded companies takes more time. Assets must be acquired and analyzed. Funding must be secured. The shift towards private investors is perhaps one explanation as to why the rig count has been slow to respond.

Wrap-Up

Of course, there may be other reasons. COVID has thrown a wrench in the ability of companies to find and relocate employees to drilling sites. Large energy companies are also rethinking their commitment to fossil fuels. Companies like BP Amoco and Total SE are emphasizing investments in renewable energy over fossil fuels. A study by Deloitte shows that almost all companies setting emission targets have been companies with market caps above $10 billion. Time will tell whether new investors fill the investment gap being left by the majors. The pace and size of private energy investing could go a long way towards determining the length and magnitude of the current energy price cycle.

Suggested Reading:

Energy Outlook 2021 Can Oil Prices Keep Climbing?


Will the U.S. Continue to Subsidize Renewable Energy? Will Renewable Energy be the Downfall of Fossil Fuels?


Sources

https://finance.yahoo.com/news/shale-private-army-ramping-means-090003295.html, David Wethe, Kevin Crowley and Sheela Tobben, Bloomberg, March 1, 2021

https://www.forbes.com/sites/deborahbyers/2020/06/16/the-last-cycle-lessons-from-the-past-to-build-oil-and-gass-future/?sh=1cc3d1972cac, Deborah Byers, Forbes, June 16, 2020

https://www2.deloitte.com/us/en/insights/industry/oil-and-gas/oil-gas-energy-sector-disruption.html, Stanley Porter, Duane Dickson, Kate Hardin, Thomas Shattuck, Deloitte, August 13, 2020

 

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Release – Capstone Turbine (CPST) – Secures Two New Long-Term Rentals And Announces Expansion Of Its Rental Fleet

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Capstone Turbine (NASDAQ:CPST) Secures Two New Long-Term Rentals And Announces Expansion Of Its Rental Fleet, From 8.6 MW To 10.6 MW

 

Rental Microturbines To Be Deployed at One of the World’s Largest Oil & Gas Producers in Texas, and a New Industrial Agricultural Operation in California

VAN NUYS, CA / ACCESSWIRE / March 8, 2021 / Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST), the world’s leading manufacturer of clean energy technology microturbine systems, announced today that it continues to expand its long-term microturbine rental business as part of expanding its Energy as a Service (EaaS) business model, with an additional 1.6 megawatts (MWs) of new long-term rental contracts. As a result, Capstone also announced today that it will now expand its low emission microturbine rental fleet from today’s 8.6 MW to 10.6 MW by March 31, 2021.

 


Capstone Rental Unit Temporarily Installed at Leading Oil & Gas Producer

 

One of the two new long-term rental contracts is a one-year rental agreement for a five-bay C600S for one of the world’s largest oil and gas producers in Texas. This contract is a follow-on long-term rental secured by Capstone distribution partner Lone Star Power Solutions (www.lonestarpowersolutions.com). Lone Star Power Solutions is Capstone’s exclusive distributor for Texas, Arizona and the Gulf States. The microturbine rental system is expected to be delivered and commissioned in the spring of 2021.

The second long-term rental contract is a one-year rental agreement for a C1000S for a new industrial agricultural operation in California. This contract was secured by Capstone’s distribution partner, Cal Microturbine, Capstone’s exclusive distributor for California, Hawaii & Nevada and nonexclusive for Oregon and Washington (www.calmicroturbine.com). The one-year rental is expected to be commissioned later this summer.

“Expanding Capstone’s Energy as a Service business, which includes the long-term rental program, is an important element for the company achieving its near-term profitability goals. Capstone is a proud green energy company, having focused for a long time on transforming the way businesses think about on-site energy production,” said Darren Jamison, President and Chief Executive Officer of Capstone Turbine. “Today, we are even more excited to be able to offer our customers Energy as a Service, to strengthen our commitment in creating smarter energy for a cleaner future, as carbon reduction has increasing value to our customers,” added Mr. Jamison.

“We currently have over 50 MW of gross, pending long-term rental contract quotations out for consideration with potential customers, and I expect the new U.S. administration will create even more positive momentum toward green initiatives, as President Biden recently signed an executive order to rejoin the U.S. into the Paris climate accord, his first major action to tackle global warming,” concluded Mr. Jamison.

“The business plan that we developed in conjunction with amending the Goldman Sachs Note Purchase Agreement on October 1, 2020, included the strategic expansion of the long-term rental fleet from 8.6 MW to 14.85 MW by June 30, 2021, and to 21.1 MW by March 2022,” said Eric Hencken, Chief Financial Officer of Capstone Turbine. “Long-term rentals are a key to our financial success as the recurring revenue stream they generate improves our gross margin and expense absorption,” concluded Mr. Hencken.

The large oil and gas company continued its pursuit of a flexible and scalable low emission energy solution that could be quickly and easily deployed and increase power capacity and accommodate its Permian basin installations’ growing energy needs. The industrial agricultural facility selected the natural gas C1000S due to its lower emission profile when compared to the environmental impact of traditional diesel rental generators.

About Capstone Turbine Corporation

Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST) is the world’s leading producer of highly efficient, low-emission, resilient microturbine energy systems. Capstone microturbines serve multiple vertical markets worldwide, including natural resources, energy efficiency, renewable energy, critical power supply, transportation and microgrids. Capstone offers a comprehensive product lineup via our direct sales team, as well as our global distribution network. Capstone provides scalable solutions from 30 kWs to 10 MWs that operate on a variety of fuels and are the ideal solution for today’s multi-technology distributed power generation projects.

For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: [email protected]. To date, Capstone has shipped nearly 10,000 units to 83 countries and in FY20, saved customers an estimated $219 million in annual energy costs and 368,000 tons of carbon.

For more information about the company, please visit www.capstoneturbine.com. Follow Capstone Turbine on Twitter, LinkedIn, Instagram, Facebook and YouTube.

Cautionary Note Regarding Forward-Looking Statements

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations, beliefs, plans, intentions and strategies of the Company. The Company has tried to identify these forward-looking statements by using words such as “expect,” “anticipate,” “believe,” “could,” “should,” “estimate,” “intend,” “may,” “will,” “plan,” “goal” and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company’s indebtedness; the Company’s ability to develop new products and enhance existing products; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company’s ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company’s future operating results, please see the Company’s filings with the Securities and Exchange Commission, including the disclosures under “Risk Factors” in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason. “Capstone” and “Capstone Microturbine” are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.

CONTACT:
Capstone Turbine Corporation
Investor and investment media inquiries:
818-407-3628

[email protected]

SOURCE: Capstone Turbine Corporation

Release – Lineage Cell Therapeutics (LCTX) – Raises $35.9 Million

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Lineage Cell Therapeutics Raises $35.9 Million From Sales Of Marketable Securities Holdings And An At-The-Market Equity Offering

 

Improved Cash Position Expected to Fund Operations for More Than Two Years

CARLSBAD, Calif.–(BUSINESS WIRE)–Mar. 8, 2021– Lineage Cell Therapeutics, Inc. (NYSE American and TASE: LCTX), a clinical-stage biotechnology company developing allogeneic cell therapies for unmet medical needs, today reported that it raised $11 million in new capital from sales of its holdings of marketable securities, including shares of OncoCyte Corporation (Nasdaq: OCX) and Hadasit Bio-Holdings (TASE: HDST), as well as $25 million in gross proceeds from its at-the-market (“ATM”) offering. Lineage expects its approximately $57 million of cash and cash equivalents as of March 5, 2021 to fund operations well into 2023, by which time the Company expects to have achieved value-creating clinical and product development milestones. Lineage’s strengthened balance sheet also provides it with strategic flexibility in its ongoing partnership discussions.

“During the past six months, appreciation in our share price and that of marketable securities we owned has provided us with opportunities to monetize our investments and raise additional capital through our ATM offering,” stated Brian Culley, Lineage’s CEO. “These sales underscore that Lineage has created substantial value for its shareholders over time not only by advancing our product candidates toward later-stage clinical trials, but also by making and now harvesting significant early investments in OncoCyte and Hadasit and from aggressive and prudent expense reductions we previously reported. We expect that Lineage is now funded well into 2023, by which time we expect to have reached additional significant milestones, explored new areas to deploy our technology, and moved Lineage ever closer to our goal of becoming the preeminent allogeneic cell transplant company. Our stronger balance sheet also can provide us with optionality with respect to our ongoing partnership discussions.”

Cash and cash equivalents as of December 31, 2020 were $32.6 million and reflected $5.1 million in gross proceeds from sales on the ATM (which excluded $0.3 million in cash in transit related to 2020 sales that settled in 2021) and $0.8 million in gross proceeds from sales of Hadasit shares during the fourth quarter. From January 1, 2021 through March 5, 2021, Lineage raised an additional $19.9 million in gross proceeds through the ATM offering (which included $0.3 million in cash in transit related to 2020 sales that settled in 2021), as well as $10.1 million in gross proceeds from sales of OncoCyte shares and $21,000 in gross proceeds from sales of Hadasit shares. Lineage incubated OncoCyte and funded its initial product development before spinning it out as a separate public company in January 2016. As of March 5, 2021, OncoCyte’s market capitalization was over $300 million and Lineage has realized $32.5 million in total sales of its OncoCyte shares over time. The Company continues to hold 1,122,401 shares of OncoCyte stock valued at approximately $4.2 million and 169,167 shares of Hadasit stock valued at approximately $330,000, in each case based on the closing prices of those shares on March 5, 2021. Previously, Lineage also incubated and funded the initial product development of AgeX Therapeutics (NYSE American: AGE), and subsequently spun it out as a separate public company in November 2018, ultimately raising nearly $50 million from sales of its securities. Lineage believes that its broad technology platform and intellectual property portfolio may allow it to create additional value for shareholders through the advancement of its own novel pipeline as well as through the incubation and development of other products and companies, and through strategic corporate partnerships.

About Lineage Cell Therapeutics, Inc.

Lineage Cell Therapeutics is a clinical-stage biotechnology company developing novel cell therapies for unmet medical needs. Lineage’s programs are based on its robust proprietary cell-based therapy platform and associated in-house development and manufacturing capabilities. With this platform Lineage develops and manufactures specialized, terminally differentiated human cells from its pluripotent and progenitor cell starting materials. These differentiated cells are developed to either replace or support cells that are dysfunctional or absent due to degenerative disease or traumatic injury or administered as a means of helping the body mount an effective immune response to cancer. Lineage’s clinical programs are in markets with billion dollar opportunities and include three allogeneic (“off-the-shelf”) product candidates: (i) OpRegen®, a retinal pigment epithelium transplant therapy in Phase 1/2a development for the treatment of dry age-related macular degeneration, a leading cause of blindness in the developed world; (ii) OPC1, an oligodendrocyte progenitor cell therapy in Phase 1/2a development for the treatment of acute spinal cord injuries; and (iii) VAC, an allogeneic dendritic cell therapy platform for immuno-oncology and infectious disease, currently in clinical development for the treatment of non-small cell lung cancer. For more information, please visit www.lineagecell.com or follow the Company on Twitter @LineageCell.

Forward-Looking Statements

Lineage cautions you that all statements, other than statements of historical facts, contained in this press release, are forward-looking statements. Forward-looking statements, in some cases, can be identified by terms such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “design,” “intend,” “expect,” “could,” “plan,” “potential,” “predict,” “seek,” “should,” “would,” “contemplate,” project,” “target,” “tend to,” or the negative version of these words and similar expressions. Such statements include, but are not limited to, statements relating to Lineage’s expected eligibility for grants. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Lineage’s actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by the forward-looking statements in this press release, including risks and uncertainties inherent in Lineage’s business and other risks in Lineage’s filings with the Securities and Exchange Commission (the SEC). Lineage’s forward-looking statements are based upon its current expectations and involve assumptions that may never materialize or may prove to be incorrect. All forward-looking statements are expressly qualified in their entirety by these cautionary statements. Further information regarding these and other risks is included under the heading “Risk Factors” in Lineage’s periodic reports with the SEC, including Lineage’s Annual Report on Form 10-K filed with the SEC on March 12, 2020 and its other reports, which are available from the SEC’s website. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they were made. Lineage undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.

Lineage Cell Therapeutics, Inc. IR
Ioana C. Hone
([email protected])
(442) 287-8963

Solebury Trout IR
Gitanjali Jain Ogawa
([email protected])
(646) 378-2949

Russo Partners – Media Relations
Nic Johnson or David Schull
[email protected]
[email protected]
(212) 845-4242

Source: Lineage Cell Therapeutics, Inc.

Research coverage of Lineage Cell Therapeutics (LCTX) on Channelchek is provided by Noble Capital Markets, Inc. Please refer to the research disclosures on the most recent LCTX report for more information.