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Release – The GEO Group Announces Exercise of Five-Year Option Period for Adelanto ICE Processing Center Contract

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on GEO

BOCA RATON, Fla.–(BUSINESS WIRE)–Oct. 4, 2024– The GEO Group (NYSE: GEO) (“GEO”) announced today that U.S. Immigration and Customs Enforcement (“ICE”) has exercised the five-year option period extending the contract for the GEO-owned 1,940-bed Adelanto ICE Processing Center in California (the “Adelanto Center”) through December 19, 2029.

ICE and GEO entered into a 15-year contract on December 19, 2019, for the provision of secure residential housing and care at the Adelanto Center, consisting of a five-year base period followed by two five-year option periods. The Adelanto Center employs approximately 350 employees.

George C. Zoley, Executive Chairman of GEO, said, “We believe the exercise of this five-year contract option period by ICE is indicative of the important role the Adelanto Center plays in helping ICE and the U.S. Department of Homeland Security fulfill their mission and operational priorities. We are proud of our approximately 350 employees at the Adelanto Center, whose dedication and professionalism have allowed GEO to establish a long-standing record of providing high-quality support services on behalf of ICE in the state of California.”

About The GEO Group

The GEO Group, Inc. (NYSE: GEO) is a leading diversified government service provider, specializing in design, financing, development, and support services for secure facilities, processing centers, and community reentry centers in the United States, Australia, South Africa, and the United Kingdom. GEO’s diversified services include enhanced in-custody rehabilitation and post-release support through the award-winning GEO Continuum of Care®, secure transportation, electronic monitoring, community-based programs, and correctional health and mental health care. GEO’s worldwide operations include the ownership and/or delivery of support services for 100 facilities totaling approximately 81,000 beds, including idle facilities and projects under development, with a workforce of up to approximately 18,000 employees.

Use of forward-looking statements

This news release may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the following cautionary statements. All forward-looking statements speak only as of the date of this news release and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements, including statements regarding the Adelanto Center contract. Risks and uncertainties that could cause actual results to vary from current expectations and forward-looking statements contained in this press release include, but are not limited to, risk factors contained in GEO’s filings with the U.S. Securities and Exchange Commission, including its Form 10-K, 10-Q, and 8-K reports. GEO disclaims any obligation to update or revise any forward-looking statements, except as required by law.

Pablo E. Paez (866) 301 4436
Executive Vice President, Corporate Relations

Source: The GEO Group, Inc.

Coeur Mining Announces Acquisition of SilverCrest Metals in a $1.7 Billion Deal

Posted on by cpatches
Key Points:
– Coeur Mining has agreed to acquire SilverCrest Metals in a $1.7 billion deal, offering a 22% premium to SilverCrest shareholders.
– The combined company is expected to produce 21 million ounces of silver and 432,000 ounces of gold in 2025, with significant free cash flow generation.
– SilverCrest’s high-grade Las Chispas mine will enhance Coeur’s cost structure and accelerate its deleveraging efforts, reducing its leverage ratio by 40%.

Coeur Mining, Inc. (NYSE: CDE) and SilverCrest Metals (NYSE: SILV) have announced they have entered into a definitive agreement where Coeur will acquire all issued and outstanding shares of SilverCrest in a transaction valued at approximately $1.7 billion. The acquisition will take place through a court-approved plan of arrangement, with SilverCrest shareholders set to receive 1.6022 Coeur common shares for each SilverCrest share, implying a total consideration of $11.34 per share—a 22% premium over SilverCrest’s closing price on October 3.

A Strategic Union to Create a Global Silver Leader

The acquisition is expected to transform Coeur into a leading global silver company. By integrating SilverCrest’s flagship Las Chispas mine in Sonora, Mexico, with Coeur’s existing operations—including its expanded Rochester mine in Nevada and Palmarejo mine in Mexico—the combined company aims to produce a peer-leading 21 million ounces of silver and 432,000 ounces of gold in 2025.

The acquisition is projected to deliver significant value for Coeur shareholders through expanded production capacity and improved financial metrics. Coeur anticipates the combined company will generate approximately $700 million in EBITDA and $350 million in free cash flow by 2025, with lower costs and higher margins thanks to the low-cost nature of SilverCrest’s assets.

Accelerating Coeur’s Deleveraging Strategy

A key benefit of the transaction is the immediate impact on Coeur’s balance sheet. SilverCrest’s solid financial standing, which includes $122 million in total treasury assets, no debt, and a strong cash flow profile, is expected to drive Coeur’s deleveraging efforts. The deal is anticipated to reduce Coeur’s leverage ratio by 40% upon closing, enhancing the company’s ability to reduce debt and strengthen its overall financial position.

Mitchell J. Krebs, Chairman, President, and Chief Executive Officer of Coeur Mining, commented:
“The acquisition of SilverCrest creates a leading global silver company by adding low-cost silver and gold production and significant free cash flow to our rapidly growing production and cash flow, driven by the recent expansion of our Rochester silver and gold mine in Nevada.”

SilverCrest’s High-Quality Assets to Bolster Coeur’s Portfolio

SilverCrest’s Las Chispas underground mine, one of the world’s highest-grade, lowest-cost silver and gold operations, has shown exceptional operational performance since starting production in 2022. In 2023, the mine produced 10.25 million silver equivalent ounces at an average cash cost of $7.73 per ounce, demonstrating strong financial results and operational efficiency. Coeur expects Las Chispas to significantly improve its overall cost and margin profile while enhancing free cash flow generation.

N. Eric Fier, Chief Executive Officer and Director of SilverCrest, said:
“I feel confident that the Coeur team will extend this track record of success at Las Chispas. This transaction provides our shareholders with an immediate premium and the opportunity to be part of a growing U.S.-based silver and gold company with tremendous upside potential.”

Fier will continue his involvement as a director of Coeur, helping guide the future of the combined entity.

Closing Conditions and Expected Timeline

The transaction remains subject to customary regulatory approvals, including Mexican antitrust approval and the approval of Coeur shares to be listed on the NYSE. Shareholder and court approvals are also required, with the transaction expected to close by the end of the first quarter of 2025, provided all conditions are met.

About Coeur Mining

Coeur Mining, Inc. is a well-diversified U.S.-based precious metals producer with operations across North America, including the Palmarejo gold-silver complex in Mexico, the Rochester silver-gold mine in Nevada, the Kensington gold mine in Alaska, and the Wharf gold mine in South Dakota. The company is committed to increasing production while maintaining financial strength and reducing leverage.

About SilverCrest Metals

SilverCrest Metals is a Canadian precious metals producer headquartered in Vancouver, focused on its Las Chispas operation in Sonora, Mexico. The company has a strong track record of taking projects from discovery to production, delivering high-grade, low-cost silver and gold, and remains committed to expanding its resources and reserves to operate multiple silver-gold mines in the Americas.

Information Services Group (III) – Sharper Focus with Automation Sale

Posted on by cpereira@noblefcm.com


Friday, October 04, 2024

ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 700 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For additional information, visit www.ISG-One.com

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

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

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

Sale of a Unit. Wednesday, ISG announced the sale of its non-core automation unit to UST, a digital transformation solutions company, for $27 million. At closing, ISG received $20 million in cash with $4 million to be released over the next 90 days and $3 million to be released at the end of 1Q25. Proceeds will be used for reducing debt, re-investing in the business, and returning capital to shareholders. Automation contributed roughly $30 million of annual revenue, including $18 million of recurring revenue.

AI Business. With large enterprises’ increasing focus on AI, ISG is placing more emphasis in this area and we believe is poised to capitalize on future spending through its AI Advisory and Research segments. Early indications of growing demand are showing with ISG Tango’s total contract value rising at the end of the second quarter.


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*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. 

Aurania Resources (AUIAF) – Memoranda of Understanding Executed to Advance Nickel-Rich Placer Project in France

Posted on by cpereira@noblefcm.com


Friday, October 04, 2024

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

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

Memoranda of Understanding. Through a wholly owned subsidiary, Aurania entered into a non-binding Memoranda of Understanding (MOU) with the Communes of Ogliastro and Nonza in Cap Corse, Northern Corsica, France for the exploitation of heavy mineral beach placers that are enriched with nickel and other metals. An accumulation of black sand comprised of awaruite and magnetite on the beaches of Albo and Nonza originated from asbestos mine waste that had previously been dumped in the Mediterranean Sea. The waste traveled up along the coast and accumulated silt at the historic ports of Albo and Nonza. Awaruite is a natural nickel-iron mineral alloy.

Placers are rich in nickel. While no resource or reserve has been established, Activation Laboratories Ltd. conducted an analysis of a heavy mineral concentrate produced by simple panning of the beach sand by hand which yielded an assay of 50.4% nickel, 0.701% cobalt, and 0.476% copper. Moreover, a Mozley gravity table concentrate of magnetic beach sand performed by SGS Laboratories yielded 40.1% nickel. At some point, we think Aurania will likely take a bulk sample for analysis.


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

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

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

Major U.S. Port Strike Suspended After Workers Agree to Tentative Wage Deal

Posted on by cpatches
Key Points:
– The major port strike on the U.S. Atlantic and Gulf coasts has tentatively ended after dock workers agreed to a 62% pay raise over six years.
– The current contract has been extended through January 15, 2025, allowing time for further negotiations, particularly over unresolved issues like the use of automated machinery.
– The brief strike disrupted supply chains, with billions of dollars of goods stranded offshore, but the immediate threat to inflation and layoffs has been averted with the resumption of port operations.

The major port strike that disrupted shipping operations along the U.S. Atlantic and Gulf coasts this week has come to a tentative resolution. Workers represented by the International Longshoremen’s Association (ILA) reached a tentative agreement on wages and a contract extension, temporarily halting the strike that had begun early Tuesday morning.

Tentative Deal Reached After Intense Negotiations

Under the tentative agreement, dock workers would receive a 62% pay raise over six years. The union had originally pushed for a 77% wage increase, while the shipping industry group initially offered 50%. Yesterday’s offer came after pressure from the Biden administration to raise wages and expedite a resolution.

The agreement extends the current contract until January 15, 2025, providing time for both sides to negotiate the new long-term contract. The strike had raised significant concerns over the supply of essential goods like fruits and automobiles and threatened to exacerbate inflation if prolonged.

Immediate Return to Work

The ILA and USMX issued a joint statement on Thursday evening, confirming that all job actions would cease immediately, and work covered under the Master Contract would resume. Despite the wage deal, some major issues remain unresolved, particularly around the use of automated machinery, a sticking point that will feature prominently in upcoming negotiations.

Economic Impact and Supply Chain Disruptions

This week’s brief strike marked the first time the ILA had walked out since 1977. The impact of the strike was already being felt across industries, with thousands of shipping containers diverted to incorrect ports and billions of dollars’ worth of goods left stranded offshore. A longer strike could have increased inflationary pressures on consumer goods and triggered layoffs due to supply chain disruptions. However, with operations resuming, the immediate threat to supply chains has been averted, and attention now shifts to the longer-term contract negotiations that will determine the future of port labor relations.

Jobs Report Exceeds Expectations, with 254,000 Jobs Added

Posted on by cpatches
Key Points:
– The U.S. economy added 254,000 jobs in September, beating forecasts and driving the unemployment rate down to 4.1%.
– Average hourly earnings rose by 0.4% for the month, marking a 4% increase year-over-year, both exceeding estimates.
– The strong jobs report could lead the Federal Reserve to adopt a more gradual pace in reducing interest rates, signaling economic resilience despite moderating hiring trends.

The U.S. economy added 254,000 jobs in September, significantly surpassing the 150,000 consensus forecast and marking a sharp increase from the revised 159,000 jobs added in August. The unemployment rate fell to 4.1%, down from 4.2% in the prior month, as labor market conditions strengthened. Average hourly earnings also outperformed expectations, rising 0.4% in September, which brought the annual increase in wages to 4%.

Strong Job Gains Across Key Sectors

Food services and drinking places saw the largest growth, adding 69,000 jobs in September, followed by healthcare, which added 45,000 positions. Government jobs also contributed to the overall increase, ticking up by 31,000. The labor force participation rate remained unchanged at 62.7%, reflecting stability in workforce engagement despite the notable job gains.

Implications for the Federal Reserve’s Rate Path

This robust jobs report could ease concerns about the strength of the U.S. labor market and likely solidify the Federal Reserve’s stance on slowing the pace of interest rate reductions. The consistent improvement in key labor metrics may allow the Fed to take a more gradual approach, avoiding sharp rate cuts while still maintaining flexibility based on future economic data.

Earlier this week, Federal Reserve Chair Jerome Powell remarked that while the labor market remained solid, it had clearly cooled compared to last year. With hiring rates moderating and new claims for unemployment holding steady, Powell’s comments may align with the Fed’s cautious stance, even as stronger-than-expected jobs data shows resilience.

Historical Context: Jobs Reports and Market Movements

Historically, U.S. jobs reports play a pivotal role in shaping market expectations and influencing Federal Reserve policy. A stronger-than-anticipated jobs report like this one can drive investor confidence, often leading to a rally in equities and bond markets. Conversely, when labor market data shows signs of weakness, it can spark fears of an economic downturn, leading to volatility.

For the Federal Reserve, robust jobs reports often signal that the economy can withstand tighter monetary policies, such as higher interest rates, to combat inflation. However, when employment data weakens, it can prompt the Fed to ease its stance by reducing interest rates to stimulate growth. In this case, today’s report, with stronger-than-expected results across the board, may temper the pace of rate cuts, as the economy shows signs of resilience amid cooling inflationary pressures.

Release – Aurania Discovers Nickel-rich Beach Placers in France and Signs Memoranda of Understanding

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on AUIAF

Toronto, Ontario–(Newsfile Corp. – October 3, 2024) – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) (“Aurania” or the “Company”). Aurania has signed non-binding Memoranda of Understanding (“MOUs”) with the Communes of Ogliastro and Nonza in Cap Corse, Northern Corsica, France, through Aurania’s wholly-owned subsidiary Corsica Ressources S.A. for the exploitation of heavy mineral beach placers that are highly enriched in nickel (Ni) and other metals. Analysis by Activation Laboratories Ltd (Actlabs) of Ancaster, Ontario, of a heavy mineral concentrate produced by simple gold panning the beach sand by hand yielded an assay of 50.4% nickel, 0.701% cobalt (Co), and 0.476% copper (Cu). A Mozley gravity table concentrate of magnetic beach sand performed by SGS Laboratories of Lakefield, Ontario yielded 40.1% nickel. These nickel grades are far in excess of any known hard rock deposits to our knowledge. The Management of Aurania was quick to realize the significance of this “discovery” and has worked over the last year with the Mineral Resources Department of the Ministry of Economy and Finance, the Interministral Delegation for the Provision of Critical Minerals and Strategic Metals as well as various levels of Government within Corsica.

Aurania’s Consultant Geologist, Stefan Ansermet, located a Geological Survey of France (BRGM) report from 1968 entitled “Le problème du nickel dans le serpentines de Corse” (The problem of nickel in the serpentinites of Corsica) which contained a one-paragraph reference to an accumulation of natural nickel-iron alloy (awaruite) on the beach of Albo, originating from asbestos mine waste that had been disposed of in the Mediterranean Sea. At the Canari open-pit mine, processed mine waste was dumped in the sea from 1948-1965. This has been broken up by storms and tides and travelled up to six kilometres along the coast and silted up two historic ports: Albo and Nonza. The awaruite mineral resides within the serpentinite host rock which in the surf has been naturally attrition milled. In the historical data a minus 2 millimetre fraction of beach sand from Albo, concentrated by heavy liquids, gave a Ni assay more than double the typical grade of mine waste. Aurania’s Chairman and CEO, Dr. Keith Barron examined satellite images on Google Earth and found what appeared to be beach placers of black sand on the nearby Nonza Beach (Figure 1). Within days, Mr. Ansermet travelled to Corsica and confirmed that there were indeed black sand accumulations on the beach (Figure 2). Subsequently, 130 kilos of sand were taken on a N-S traverse of Nonza beach. ALS-Chemex Laboratories determined that 31.7% of this raw material was magnetic through Davis Tube recovery. This magnetic sand is made up of free particles of awaruite (Ni3Fe) and magnetite (Fe3O4). In the areas of black sand placer, the awaruite and magnetite content approaches 100%. Awaruite is a natural Ni-Fe mineral alloy with a composition approximating stainless steel with 77-83% Ni. Though the initial source of the awaruite was asbestos mine waste, there is no present hazard on the beaches according to the French National Institute of Industrial Environment and Risks. Both awaruite and magnetite are heavy minerals and easily recovered from beach sand by gravity techniques that are similar to placer gold recovery. Both minerals are also highly magnetic, and the magnetic susceptibility differences between magnetite and awaruite is such that they can easily be separated. The technology is simple, cheap, and well understood. No chemicals are used in the recovery. The awaruite product can be dried, bagged and shipped to a potential smelter or battery-grade nickel sulphate producer. SGS Labs (Lakefield) is currently working on the 130 kg sample to determine the most efficient means of separating out awaruite.

Dr. Barron commented, “A nickel prospect where a potential nickel-matte furnace feedstock requires no need for drilling, blasting, or beneficiation, and can possibly be shipped from Corsica direct to a purchaser sounds like a dream scenario. Encouraging local community support makes this even more attractive. I would like to thank Stefan Ansermet for alerting Aurania to this exceptional opportunity.”

Although this does represent a considerable departure from Aurania’s on-going copper and gold exploration project in Ecuador, Dr. Barron, who has considerable experience in commercial heavy mineral recovery, immediately recognized the economic significance of this phenomenon and initiated a project of geological investigation. Though artificial, it is believed that these are the sole alluvial concentrations of nickel known on Earth and that they potentially constitute a major resource of the metal heretofore unrecognized. According to the BRGM, more than 11Mt of processed serpentinite grading 0.2% Ni were dumped in the sea. However, the beach pebbles are predominantly larger than the historical 3 cm crushing width, suggesting that large amounts of development rock from stripping was also disposed of in the sea. At this juncture, the Company has not determined a Resource or Reserve.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/2477/225422_107061eb14ff38be_001full.jpg

Figure 1: Much evidence of Beach Placer concentration indicated by arrows (taken August 7, 2020) Google Earth (cf. Hou et al., 2017). Carried by longshore drift southwards 6 kilometres from the abandoned open pit mine to Nonza. This beach is approximately 1350 metres long and 350 metres at its widest. The beach placers are believed to be very high grade.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2477/225422_107061eb14ff38be_001full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/2477/225422_107061eb14ff38be_002full.jpg

Figure 2: One of many beach placer accumulations of Black Sand (awaruite and magnetite). Boot imprints in the foreground for scale. Grains of magnetite extracted from Black Sand by attraction to a simple magnet, inset photo.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2477/225422_107061eb14ff38be_002full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/2477/225422_107061eb14ff38be_003.jpg

Figure 3: Fairly pure concentrate of awaruite in a gold pan. This material assayed 50.1% nickel. Awaruite is present as silvery scales which tarnish yellow. Maximum grain size is approximately 2 mm.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2477/225422_107061eb14ff38be_003full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/2477/225422_107061eb14ff38be_004.jpg

Figure 4: Historical airphoto on the left and present-day photo on the right, showing the progradation of the beaches over time.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2477/225422_107061eb14ff38be_004full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/2477/225422_107061eb14ff38be_005.jpg

Figure 5: Nonza Beach, Corsica

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2477/225422_107061eb14ff38be_005full.jpg

Independently published studies have concluded that heavy metals (Ni, Co, Cu) are leaching from the beach material and contaminating marine life. The beaches themselves appear to be entirely sterile. We consider our Project equally as a critical metals recovery project and a “clean up operation”. Both of these are “wins” for the planet.

The Company has retained SGS Laboratories/Lakefield to determine the best method for awaruite commercial recovery. SGS has sent a Geologist to Corsica to verify the material above and to take umpire samples. His report is pending receipt of final assays. The Company has also retained IHC Mining B.V. a Netherlands-based company, which specializes in dredging solutions, that is currently preparing a scoping study to best advise on suitable heavy mineral recovery methods and equipment.

Technical Information

All sampling reported in this release was supervised by project geologists, including chain of custody. Hand sediment panning and alluvial grab samples have been prepared at the indicated laboratories, and certified reference standards are inserted into the sample stream to monitor laboratory performance. A portion of the material is stored in a secured storage facility for future assay verification. No capping has been applied to sample composites. The Company utilizes a rigorous, industry-standard QA/QC program. Rock samples are reconnaissance select grab samples that display mineralization and assay results may not be representative of, nor verify economically mineable mineralization.

Qualified Persons:

The geological information contained in this news release has been verified and approved by Aurania’s VP Exploration, Mr. Jean-Paul Pallier, MSc. Mr. Pallier is a designated EurGeol by the European Federation of Geologists and a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

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

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

For further information, please contact:

Carolyn Muir
VP Corporate Development & Investor Relations
Aurania Resources Ltd.
(416) 367-3200
carolyn.muir@aurania.com

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

Forward-Looking Statements
This news release contains forward-looking information as such term is defined in applicable securities laws, which relate to future events or future performance and reflect management’s current expectations and assumptions. The forward-looking information includes Aurania’s objectives, goals or future plans, statements, exploration results, potential mineralization, the tonnage and grade of mineralization which has the potential for economic extraction and processing, the merits and effectiveness of known process and recovery methods, the corporation’s portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration, timing of the commencement of operations, the Company’s teams being on track ahead of any drill program, the commencement of any drill program and estimates of market conditions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to Aurania, including the assumption that, there will be no material adverse change in metal prices, all necessary consents, licenses, permits and approvals will be obtained, including various local government licenses and the market. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. Risk factors that could cause actual results to differ materially from the results expressed or implied by the forward-looking information include, among other things: failure to identify mineral resources; failure to convert estimated mineral resources to reserves; the inability to complete a feasibility study which recommends a production decision; the preliminary nature of metallurgical test results; the inability to recover and process mineralization using known mining methods; the presence of deleterious mineralization or the inability to process mineralization in an environmentally acceptable manner; commodity prices, supply chain disruptions, restrictions on labour and workplace attendance and local and international travel; a failure to obtain or delays in obtaining the required regulatory licenses, permits, approvals and consents; an inability to access financing as needed; a general economic downturn, a volatile stock price, labour strikes, political unrest, changes in the mining regulatory regime governing Aurania; a failure to comply with environmental regulations; a weakening of market and industry reliance on precious metals and base metals; and those risks set out in the Company’s public documents filed on SEDAR+. Aurania cautions the reader that the above list of risk factors is not exhaustive. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law

info

SOURCE: Aurania Resources Ltd.

Release – Commercial Vehicle Group Completes Sale of Cab Structures Business

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on CVGI

NEW ALBANY, Ohio, Oct. 02, 2024 (GLOBE NEWSWIRE) — Commercial Vehicle Group (the “Company” or “CVG”) (NASDAQ: CVGI), a diversified industrial products and services company, announced it has completed the sale, effective October 1, 2024, of its Cab Structures business with operations in Kings Mountain, North Carolina to a Volvo Group company. As part of the sale, CVG received a total of $40 million, with $20 million received on September 6, 2024, and the remaining $20 million received on October 1, 2024.

James Ray, President and CEO of CVG, stated, “This is a positive transaction for both companies and supports CVG’s efforts to optimize our portfolio toward higher-growth products and markets in line with our ongoing strategic transformation plan. We’re happy to see the plant in good hands as Kings Mountain employees will benefit from being integrated into their customer’s operations. We’re grateful for their contributions to CVG over the years.”

CVG and Volvo are committed to a smooth transition for our customers, suppliers, and the employees.

About CVG

At CVG, we deliver real solutions to complex design, engineering and manufacturing problems while creating positive change for our customers, industries, and communities we serve. Information about CVG and its products is available at www.cvgrp.com.

Investor Relations Contact:
Ross Collins or Stephen Poe
Alpha IR Group
CVGI@alpha-ir.com

Media Contact:
Patrick Woolford
Director, Communications
Patrick.Woolford@cvgrp.com

Source: Commercial Vehicle Group, Inc.

New Signs of Recovery Emerge in U.S. Office Real Estate Market Amid Major Discounted Sales

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– Office real estate prices have dropped 12.4% year-over-year as of Q2 2024.
– Stressed property sales at significant discounts signal potential price benchmarks.
– Federal Reserve rate cuts provide some relief but are insufficient for full market recovery.

The U.S. office real estate market may be showing early signs of bottoming out, as recent sales of stressed properties at significant discounts begin to set new pricing benchmarks. After being severely impacted by the pandemic, with prices for office buildings plummeting by 12.4% year-over-year as of the second quarter of 2024, some experts now believe that the worst may be behind us.

For the past two years, office buildings have faced declining demand as remote work became more widespread, leading to persistent vacancies. The combination of high operating costs and higher interest rates has created a challenging environment for developers and lenders. Many have chosen to extend maturing loans with revised terms or delay sales in hopes of avoiding losses. As a result, transaction volumes have remained low, preventing the market from finding a clear pricing benchmark.

“We’re starting to see a shift,” said Stephen Buschbom, research director at Trepp, a real estate data and research firm. “There have been a few big sales at significant discounts recently, and that helps establish some kind of pricing benchmark, which we desperately need.”

According to Moody’s, the second quarter of 2024 saw seven office buildings sell at more than $100 million discounts. This includes a notable sale of 135 West 50th Street in Manhattan, which was sold at a staggering 97% discount, resulting in a $276.5 million loss compared to its previous valuation of $285 million. Similar deals have been recorded in other major markets, such as Chicago, Seattle, and Washington, D.C.

These steep discounts have caused some industry experts to speculate that the market may be at or near its bottom, with distressed property sales finally providing clarity on pricing. Kevin Fagan, head of Commercial Real Estate Economic Analysis at Moody’s, notes that these sales mark a turning point. “We’re seeing some sophisticated property owners willing to sell their buildings at a loss, and that’s helping create a clearer understanding of office values.”

Despite these glimmers of hope, the overall outlook for the office real estate market remains uncertain. With a large volume of loans maturing over the next year, property owners may still face difficulties refinancing their existing debt, even as the Federal Reserve has begun cutting interest rates. According to Moody’s, around 72% of the $19 billion worth of maturing loans over the next 12 months will require property owners to contribute between 30-35% in additional equity to secure refinancing.

The Federal Reserve’s recent 50-basis-point rate cut has offered some relief, but experts warn that more substantial rate cuts will be needed to stimulate a full recovery in the market. “While the rate cut is helpful, the market likely needs a reduction of 300-400 basis points to truly revive commercial real estate,” said Alex Horn, founder of private lender BridgeInvest.

Looking ahead, analysts expect more property owners to begin selling distressed assets, creating potential opportunities for buyers willing to invest in heavily discounted properties. Keerthi Raghavan, head of ABS strategy at Waterfall Asset Management, said his firm has already invested nearly $2 billion in bonds and loans sold at steep discounts over the last year. “We believe there will be more opportunities as many commercial real estate assets still need to be sold or resolved,” he said.

While the road to recovery is likely to be long and fraught with challenges, the recent uptick in stressed property sales suggests that the U.S. office real estate market may finally be finding its bottom.

Release – Zomedica Announces Expansion of Exclusive Equine Distribution Agreement with Grovet in Europe

Posted on by aweinsoff@channelchek.com

Research News and Market Data on ZOM

Expansion adds new countries to Grovet’s existing PulseVet distribution coverage and enables launch of the TRUFORMA® equine platform in Europe

ANN ARBOR, MI / ACCESSWIRE / October 3, 2024 / Zomedica Corp. (NYSE American:ZOM) (“Zomedica” or the “Company”), a veterinary health company offering point-of-care diagnostics and therapeutic products for equine and companion animals, today announced the expansion of its distribution partnership in Europe with Grovet, a leading equine-focused veterinary distributor.

The terms of the updated agreement offer Grovet equine distribution rights for Zomedica’s equine PulseVet® and TRUFORMA product platforms throughout most of Europe. Grovet will exclusively distribute these equine products in 27 countries, including Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and Switzerland, and will distribute these products on anon-exclusive basis in Italy and the UK.

In addition to expanding the distribution of PulseVet products to equine veterinarians into additional European countries, this agreement also expands their product offerings to include the TRUFORMA platform as well as the Company’s current equine assays for eACTH and Cortisol, and equine Insulin when it launches later this year.

“We are very pleased to expand our relationship with Grovet for all of Zomedica’ s equine products in Europe,” stated Kevin Klass, Zomedica’s Senior Vice President of Sales. “Grovet has been a terrific partner since inception. Having them lead the way for us in equine by introducing the TRUFORMA equine product line to the market in 29 countries is a natural recipe for success,” continued Klass.

“Working with Zomedica and selling the PulseVet device has been a great experience for us,” stated Koen Schmitz-Managing Director of Grovet. “We only partner with companies whose products are rooted in scientific studies, and all of Zomedica’s products we are carrying are exactly just that, rooted in science and steeped in research,” continued Schmitz.

“Grovet has been a great partner to Zomedica for the equine PulseVet product line over the last several years, and they were the perfect partner to help expand the reach of our TRUFORMA equine platform within Europe,” stated Brandon Marino, Senior Director of Global Channels for Zomedica.

“PPID, or Cushing’s disease, is one of the most common endocrine disorders in horses and ponies. Left undiagnosed and untreated, quality of life for these animals will rapidly decline and their life expectancy will shorten. The TRUFORMA eACTH assay for equine plasma offers equine veterinarians the ability to diagnose and screen for PPID as well as monitor patients during treatment, in minutes in their own labs or stall-side. The equine Cortisol assay provides critical data to veterinarians treating foals, and the upcoming equine insulin assay will be of benefit for assessing insulin issues commonly faced by horses. The compact, easy to use, and durable TRUFORMA device offers reference lab accuracy with point of care convenience, making it a great fit for the unique challenges that face equine practitioners,” concluded Marino.

For more information on these products or any of Zomedica’s other products please visit, wwww.zomedica.com.

About Grovet – Equine health company
Grovet has been supporting equine veterinarians with high-quality products for over 25 years. Our team consists of people who are passionate about horses, which is why horse health is at the heart of everything we do.

With our extensive experience and knowledge, we offer a wide range of innovative products, including instruments, medicines, MedTech and supplements to support equine veterinarians. We are committed to continuously improving and expanding our product line to meet the evolving needs of equine practitioners. By working closely with veterinarians and industry experts, we stay up to date on the latest trends and challenges, allowing us to provide effective solutions that help vets deliver the best care possible.

A key example of our ongoing commitment to innovation is our successful collaboration with Zomedica. This partnership has allowed us to expand our product offerings with the PulseVet and now the TRUFORMA equine line of products. PulseVet products are highly regarded by our clients and fit seamlessly into Grovet’s existing range and customer base. Our clients are pleased to have access to these products through a European distributor, making it easier than ever to incorporate them into their veterinary practices.

For more information about our products or to explore partnership opportunities, please visit www.grovet.com or contact us directly.

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About Zomedica

Zomedica is a leading equine and companion animal healthcare company dedicated to improving animal health by providing veterinarians innovative therapeutic and diagnostic solutions. Our gold standard PulseVet® shock wave system, which accelerates healing in musculoskeletal conditions, has transformed veterinary therapeutics. Our suite of products also includes the Assisi® Loop line of therapeutic devices and the TRUFORMA® diagnostic platform, the TRUVIEW™ digital cytology system, and the VetGuardian® no-touch monitoring system, all designed to empower veterinarians to provide top-tier care. In the aggregate, their total addressable market in the U.S. exceeds $2 billion. Headquartered in Michigan, Zomedica employs approximately 150 people and manufactures and distributes its products from its world-class facilities in Georgia and Minnesota. An NYSE American company, Zomedica grew revenue 33% in 2023 to $25 million and maintains a strong balance sheet with approximately $83 million in liquidity as of June 30, 2024. Zomedica is advancing its product offerings, leveraging strategic acquisitions, and expanding internationally as we work to enhance the quality of care for pets, increase pet parent satisfaction, and improve the workflow, cash flow and profitability of veterinary practices. For more information visit www.zomedica.com.

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Cautionary Note Regarding Forward-Looking Statements

Except for statements of historical fact, this news release contains certain “forward-looking information” or “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur and include statements relating to our expectations regarding future results. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance, or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, including assumptions with respect to economic growth, demand for the Company’s products, the Company’s ability to produce and sell its products, sufficiency of our budgeted capital and operating expenditures, the satisfaction by our strategic partners of their obligations under our commercial agreements, our ability to realize upon our business plans and cost control efforts and the impact of COVID-19 on our business, results and financial condition.

Our forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: the outcome of clinical studies, the application of generally accepted accounting principles, which are highly complex and involve many subjective assumptions, estimates, and judgments, uncertainty as to whether our strategies and business plans will yield the expected benefits; uncertainty as to the timing and results of development work and verification and validation studies; uncertainty as to the timing and results of commercialization efforts, as well as the cost of commercialization efforts, including the cost to develop an internal sales force and manage our growth; uncertainty as to our ability to successfully integrate acquisitions; uncertainty as to our ability to supply products in response to customer demand; uncertainty as to the likelihood and timing of any required regulatory approvals, and the availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; veterinary acceptance of our products, including acceptance of the TRUFORMA platform by veterinarians in Europe; competition from related products; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology and changes in laws and regulations; our ability to secure and maintain strategic relationships; performance by our strategic partners of their obligations under our commercial agreements, including meeting distribution obligations; risks pertaining to permits and licensing, intellectual property infringement risks, risks relating to any required clinical trials and regulatory approvals, risks relating to the safety and efficacy of our products, the use of our products, intellectual property protection, risks related to the COVID-19 pandemic and its impact upon our business operations generally, including our ability to develop and commercialize our products, and the other risk factors disclosed in our filings with the SEC and under our profile on SEDAR+ at www.sedarplus.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

Investor Relations Contact:

Zomedica Investor Relations
investors@zomedica.com
1-734-369-2555

SOURCE: Zomedica Corp.

GoHealth, Inc. (GOCO) – Closes Acquisition After Busy September

Posted on by cpereira@noblefcm.com


Thursday, October 03, 2024

Patrick McCann, CFA, Research Analyst, Noble Capital Markets, Inc.

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

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

Acquired e-TeleQuote. On October 1, GoHealth announced that it closed on its acquisition of e-TeleQuote, one of its peers in the Medicare insurance marketplace landscape. The deal was originally announced in early September. In our view, the terms of the transaction were highly favorable to the company as the deal appears to be immediately accretive to the company’s balance sheet.

Favorable Terms. The company acquired e-TeleQuote through a creative agreement, in which it invested $5 million for a roughly 19% stake in the business through newly issued shares. At that time, the previous owner relinquished its 81% stake, leaving GoHealth as the sole shareholder.  This left the company with all the assets on the e-TeleQuote balance sheet, with over $18 million in cash (including the $5 million paid by GoHealth) and over $100 million in contract assets. The company also gains almost 400 experienced agents.  


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

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

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

Resources Connection (RGP) – Post Call Commentary and Updated Model

Posted on by cpereira@noblefcm.com


Thursday, October 03, 2024

Resources Connection, Inc. provides agile consulting services in North America, Europe, and the Asia Pacific. The company offers finance and accounting services, including process transformation and optimization, financial reporting and analysis, technical and operational accounting, merger and acquisition due diligence and integration, audit readiness, preparation and response, implementation of new accounting standards, and remediation support. It also provides information management services, such as program and project management, business and technology integration, data strategy, and business performance management. In addition, the company offers corporate advisory, strategic communications, and restructuring services; and corporate governance, risk, and compliance management services, such as contract and regulatory compliance, enterprise risk management, internal controls management, and operation and information technology (IT) audits. Further, it provides supply chain management services comprising strategy development, procurement and supplier management, logistics and materials management, supply chain planning and forecasting, and unique device identification compliance; and human capital services, including change management, organization development and effectiveness, compensation and incentive plan strategies, and optimization of human resources technology and operations. Additionally, the company offers legal and regulatory supporting services for commercial transactions, global compliance initiatives, law department operations, and law department business strategies and analytics. It also provides policyIQ, a proprietary cloud-based governance, risk, and compliance software application. The company was formerly known as RC Transaction Corp. and changed its name to Resources Connection, Inc. in August 2000. Resources Connection, Inc. was founded in 1996 and is headquartered in Irvine, California.

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

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

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

New Model. We believe it is informative to take a deeper dive into the operational changes being made by RGP over the past quarter. The Company has taken the challenging operating environment to create a strong platform, broaden its addressable market, deepen client relationships, and improve efficiency, all of which position the Company to capitalize on the environment once it improves, in our view.

Impact. The On Demand Talent segment is increasingly relevant in the professional staffing space. The new Consulting segment positions RGP higher up the professional services value chain, enabling RGP to play a key role in transformation strategy and execution initiatives. And the Outsourced Services segment is expanding its client base, especially among venture-backed AI startups, while also exploring cross-selling opportunities within the existing client base.


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

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

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

Comstock Inc. (LODE) – Collaborative Agreements with the Department of Energy’s National Renewable Energy Laboratory

Posted on by cpereira@noblefcm.com


Thursday, October 03, 2024

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

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

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

Laying the groundwork for a successful moonshot. Comstock IP Holdings, a wholly owned subsidiary, executed an Exclusive License Agreement (ELA) and Cooperative Research and Development Agreement (CRADA) with the Alliance for Sustainable Energy, the managing and operating contractor of the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL). The agreements provide access to technologies developed by NREL and the Massachusetts Institute of Technology (MIT) to convert lignocellulosic biomass into aromatic sustainable aviation fuel (SAF). The goal is to produce the world’s first 100% renewable SAF at costs approaching parity with fossil fuels by integrating Comstock and NREL technologies.

Cooperative Research and Development Agreement. Terms include a three-year scope of work to jointly develop an integrated process based on Comstock and NREL processes and technologies to refine woody biomass into aromatic SAF and other renewable fuels. Comstock will fund the research and contribute staff, equipment, and use of its pilot facility in Wisconsin. The CRADA is expected to result in the construction of a pre-commercial pilot system to affirm requirements needed to scale-up and incorporate the resulting process into Comstock’s planned 50,000 metric ton per year commercial demonstration facility.


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

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

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