Category: Natural Resources

Release – Labrador Gold Intersects 0.87g/t Au Over 55.9 Metres at New HM Occurrence Includes 38.37g/t Au Over 0.8 Meters

Posted on by aweinsoff@channelchek.com

Research News and Market Data on NKOSF

JANUARY 25, 2024

TORONTO, Jan. 25, 2024 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce results from recent drilling targeting the highly prospective Appleton Fault Zone. The drilling is part of the Company’s ongoing 100,000 metre diamond drilling program at its 100% owned Kingsway Project.

The latest results include holes drilled at Pristine, the NE extension of Big Vein, initial holes at Knobby and Peter Easton as well as the first hole in the new HM occurrence.

Hole K-23-334 was a short hole drilled into the HM occurrence to test for gold mineralization at depth below the quartz vein at surface. Most of the hole was anomalous in gold grading 0.87g/t Au over 55.9 metres that included a zone with 27 grains of visible gold that graded 38.37g/t Au over 0.8 metres from 61.4 metres near the bottom of the hole. The HM occurrence was found by prospecting and is located approximately 570m along strike to the southwest of Big Vein and a similar distance northeast of Knobby. Hole K-23-334 is the only hole drilled into this occurrence to date.

Results from Hole K-23-304, drilled at Knobby intersected two quartz zones containing visible gold at 42 and 49 metres. These intersections graded 1.27g/t Au over 0.42 metres and 8.78g/t Au over 0.4 metres, respectively.

“We are excited by the results from the first hole at HM. While it is good to see the high grade associated with the visible gold, it is very encouraging to see continuous, anomalous gold in the country rock to the quartz veins throughout much of the hole,” said Roger Moss, President and CEO of Labrador Gold. “This new occurrence, the seventh to be found by the LabGold team since we started work on the property, continues to demonstrate the significant prospectivity of the area around the Appleton Fault Zone at Kingsway. With a total strike length of approximately 12km across the property, we are optimistic that more occurrences will be uncovered going forward.”

Figure 1. Visible gold grains in quartz vein from Hole K-23-334.

Figure 2. Mineralized quartz vein intervals in Hole K-23-334.

Hole K-23-291 drilled at Pristine intersected near surface gold mineralization grading 1.13g/t Au over 8.32 metres from 15 metres including 2.31g/t over 3 metres. Holes drilled at Peter Easton and to the northeast of Big Vein tested structures interpreted from airborne magnetics and three of the four holes did not intersect gold mineralization

Hole IDFrom (m)To (m)Interval (m)Au (g/t)Zone
K-23-3348.7064.6055.900.87HM
including61.4064.603.2011.56
including61.4062.200.8038.37
K-23-30442.7843.200.421.27Knobby
48.8052.403.601.07
including48.8049.200.408.78
K-23-302nsvKnobby
K-23-29115.0023.328.321.13Pristine
including15.0018.003.002.31
48.7049.250.551.51
K-23-29052.3654.121.761.06Pristine
K-23-289nsvPeter Easton
K-23-288318.00320.002.001.64Big Vein
K-23-287nsvPristine
K-23-286nsvPeter Easton
K-23-285100.00101.801.801.33Pristine
183.32224.0040.680.18
K-23-284nsvBig Vein
Table 1. Summary of recent assay results. All intersections are downhole length
as there is insufficient Information to calculate true width.

Hole numberEastingNorthingElevationAzimuthDipTotal Depth
K-23-334660889543424232754573
K-23-30466057654337544218745157
K-23-30266059754337543918745157
K-23-291661909543614854090176
K-23-29066184854361935819060159.5
K-23-28966058454342775216045235
K-23-28866186054354693613065401
K-23-287661848543619458090179
K-23-28666057254345837127545259
K-23-28566189854360435131565224
K-23-28366057454345837212045181
K-23-28466183254354193513065383
Table 2. Drill collar details.
Figure 3. Kingsway occurrences with highlights of recent drilling.

QA/QC
True widths of the reported intersections have yet to be calculated. Assays are uncut. Samples of HQ split core are securely stored prior to shipping to Eastern Analytical Laboratory in Springdale, Newfoundland for assay. Eastern Analytical is an ISO/IEC17025 accredited laboratory. Samples are routinely analyzed for gold by standard 30g fire assay with atomic absorption finish as well as by ICP-OES for an additional 34 elements. Samples containing visible gold are assayed by metallic screen/fire assay, as are any samples with fire assay results greater than 1g/t Au. The company submits blanks and certified reference standards at a rate of approximately 5% of the total samples in each batch. Approximately 5% of sample pulps are submitted to Bureau Veritas, an ISO 17025 accredited Laboratory in Vancouver, BC for check assays.

Qualified Person
Roger Moss, PhD., P.Geo., President and CEO of LabGold, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this release.

About Labrador Gold
Labrador Gold is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada.

Labrador Gold’s flagship property is the 100% owned Kingsway project in the Gander area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 12km of the Appleton Fault Zone which is associated with numerous gold occurrences in the region. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water. LabGold is drilling a projected 100,000 metres targeting high-grade epizonal gold mineralization along the Appleton Fault Zone with encouraging results. The Company has approximately $7 million in working capital and is well funded to carry out the planned program.

The Hopedale property covers much of the Florence Lake greenstone belt that stretches over 60 km. The belt is typical of greenstone belts around the world but has been underexplored by comparison. Work to date by Labrador Gold show gold anomalies in rocks, soils and lake sediments over a 3 kilometre section of the northern portion of the Florence Lake greenstone belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 km along the southern section of the greenstone belt (see news release dated January 25th 2018 for more details). Labrador Gold now controls approximately 40km strike length of the Florence Lake Greenstone Belt.

The Company has 170,009,979 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB.

For more information please contact:
Roger Moss, President and CEO Tel: 416-704-8291

Or visit our website at: www.labradorgold.com

Twitter: @LabGoldCorp

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in 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 statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/8118123e-b34d-4b9b-adac-99d68618af79

https://www.globenewswire.com/NewsRoom/AttachmentNg/dd6abb17-9e76-47a4-a2f0-1f1ab6fcc849

https://www.globenewswire.com/NewsRoom/AttachmentNg/c26e2628-153d-41a9-b9df-d4ae56571b1c

Release – McLeod Lake Indian Band and Defense Metals Corp. Announce Groundbreaking Partnership for Wicheeda Project

Posted on by aweinsoff@channelchek.com

Research News and Market Data on DFMTF

NEWS PROVIDED BY

Defense Metals Corp. 

18 Jan, 2024, 08:00 ET

Equity Partnership and Co-Design Agreement Set New Standards in Collaborative Project Development in the Critical Minerals Transition

VANCOUVER, BC, Jan. 18, 2024  /PRNewswire/ – The McLeod Lake Indian Band (MLIB) and Defense Metals Corp. (Defense Metals), announced today a strategic Equity Partnership and Co-Design Agreement, solidifying their joint commitment to the successful advancement of the Wicheeda Project, a rare earth elements (REE) project in central British Columbia.

Minister of Energy, Mines and Low Carbon Innovation, Josie Osborne speaks at the announcement today. (CNW Group/Defense Metals Corp.)

McLeod Lake Indian Band, recognizing the significant potential of the Wicheeda Project, has purchased a meaningful equity stake in Defense Metals. This strategic investment will showcase MLIB’s long-term commitment to the project’s success and expects to further cement their position as a key participant in its development. MLIB now holds approximately 2.6 million common shares of Defense Metals.

Simultaneously, MLIB and Defense Metals have entered into a Co-Design Agreement (the Agreement), setting a new standard for collaborative project development. The Agreement emphasizes a joint planning approach, empowering MLIB to play an integral part in the design and decision-making process in the technical, social, engineering and environmental aspects of the Wicheeda Project.

This unique agreement between McLeod Lake Indian Band and Defense Metals signals a transformative moment in the collaborative development of mining projects – particularly in the global push for Critical Minerals Projects. Central to this collaboration is the Wicheeda’s contribution to the clean energy transition in British Columbia. With a targeted annual production equivalent to approximately 10% of current global production, the project has the potential to become a significant supplier of rare earth elements.

McLeod Lake Indian Band

“McLeod Lake Indian Band values its partnership with Defense Metals, and together, we are pioneering a new standard in collaborative project development, which is a true form of reconciliation. We’re proud to be a part of a project that will be a key contributor to global energy transition goals, and one that will deliver long-term economic benefits to our community for generations to come.” – McLeod Lake Indian Band Chief Harley Chingee.

Defense Metals Corp.

“We’re proud to partner with MLIB and these strategic agreements exemplify a shared vision and commitment to realizing the full potential of the Wicheeda Project and the positive impact it will have on the global Critical Minerals Transition. Through both agreements, McLeod Lake Indian Band stands to reap mutual benefits from our combined efforts around the Wicheeda Project.” – CEO of Defense Metals, Craig Taylor.

Minister of Energy, Mines and Low Carbon Innovation

“The collaboration between Defense Metals and McLeod Lake Indian Band demonstrates how early-stage consultation with First Nations can bring important projects to life in a way that benefits everyone.  Partnerships like this play a pivotal role in shaping BC’s natural resources future, as we lay a concrete path toward achieving our net-zero goals through collaboration and advancing reconciliation.” – Josie Osborne, Minister of Energy, Mines and Low Carbon Innovation.

About Defense Metals Corp. and its Wicheeda Project

Defense Metals Corp. is a mineral exploration and development company focused on the development of its 100% owned, 8,301-hectare (~20,534-acre) rare earth element Wicheeda Project that is located on the traditional territory of the McLeod Lake Indian Band in British Columbia, Canada.

The Wicheeda Project, approximately 80 kilometres northeast of the city of Prince George, is readily accessible by all-weather gravel roads and has nearby infrastructure, including rail and hydro power. The nearby Canadian National Railway and major highways allow easy access to the port facilities at Prince Rupert, the closest major North American port to Asia. 

Defense Metals Corp. trades on the TSX Venture Exchange under the symbol “DEFN”, in the United States, trading symbol “DFMTF” on the OTCQB and in Germany on the Frankfurt Exchange under “35D”.

Defense Metals is a proud member of Discovery Group. For more information please visit:
http://www.discoverygroup.ca/

Media Contact:

Sarah Norman
Director of Strategic Communications
One-Eighty Consulting Group
snorman@one-eighty.ca

Qualified Person

Kristopher J. Raffle, P.Geo. (B.C.), Principal and Consultant of APEX Geoscience Ltd. of Edmonton, Alberta, and a “Qualified Person” as defined in NI 43-101 has reviewed and approved the scientific and technical information and verified the data contained in this news release as it relates to the Wicheeda REE Project.

Cautionary Statement Regarding “Forward-Looking” Information

This news release contains “forward‐looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, any statements (expressed or implied) relating to: advancing the Wicheeda REE Project, MLIB’s expected investment in the Company,  the potential production of rare earth elements,  the benefits from combined efforts with MLIB, and the technical, financial and business prospects of the Company, its project and other matters. Forward-looking statements are typically identified by words such as “plan,” “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict,” “should,” “would” and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking. All statements in this news release, other than statements of historical facts, that address events, contribution or developments that the Company expects to occur, are forward-looking statements.

Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such forward-looking statements are not guarantees of future performance and actual results may differ materially due to the risks and uncertainties associated with and inherent to the Company’s business and the Wicheeda REE Project. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of rare earth elements, the anticipated costs and expenditures, accuracy of assay results, performance of available laboratory and other related services, future operating costs, interpretation of geological, engineering and metallurgical data, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration, engineering and metallurgical results, risks related to the inherent uncertainty of exploration, metallurgy and development and cost estimates, the potential for unexpected costs and expenses and those other risks filed under the Company’s profile on SEDAR+ at www.sedarplus.ca.

While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather and climate conditions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations), risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of personnel, materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), risks relating to inaccurate geological, metallurgical and engineering assumptions, decrease in the price of rare earth elements, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, loss of key employees, consultants, or directors, increase in costs, delayed results, litigation, and failure of counterparties to perform their contractual obligations. The forward-looking statements contained in this press release are made as at the date hereof and the Company does not undertake to update publicly or to revise any of the included forward-looking statements or forward-looking information, whether as a result of new information, future events, or otherwise, except as may be required by applicable securities laws.

McLeod Lake Indian Band Chief Harley Chingee and Defense Metals CEO Craig Taylor sign Equity and Co-Design Agreement with the Minister of Energy, Mines and Low Carbon Innovation, Josie Osborne. (CNW Group/Defense Metals Corp.)

SOURCE Defense Metals Corp.

Defense Metals Corp. (DFMTF) – A Unique Cooperative Agreement Between Defense Metals and the McLeod Lake Indian Band

Posted on by cpereira@noblefcm.com


Thursday, January 18, 2024

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

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

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

Co-Design agreement with the McLeod Lake Indian Band (MLIB). Defense Metals entered into a Co-Design agreement with the McLeod Lake Indian Band to collaborate on the design of the Wicheeda Rare Earth Element Project and consider the band’s interests and priorities in future feasibility studies and environmental assessments. Budgets and work plans will be developed cooperatively. The MLIB is a First Nations community and part of the Tse’khene group of Aboriginal people in British Columbia, Canada.

MLIB strategic investment. The McLeod Lake Indian Band will make a strategic investment in Defense Metals through a private placement of 2,557,795 common shares of the company at a price of C$0.26 per share for aggregate proceeds of C$665,026.70. The transaction will be completed following approval by the TSX Venture Exchange, and the common shares issued will be subject to a two-year voluntary hold period from the date of issuance. The net proceeds will be used to advance the Wicheeda Project. As of September 30, 2023, Defense Metals had 255,779,571 shares outstanding. We will adjust our financial model once the transaction closes. 


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

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

Alliance Resource Partners (ARLP) – The Strategy Supporting ARLP’s Strategic Investments Becomes More Apparent

Posted on by cpereira@noblefcm.com


Wednesday, January 17, 2024

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

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

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

Collaboration with Infinitum. Infinitum, a leader in sustainable air-core motors, and Matrix Design Group, a wholly owned subsidiary of Alliance Resource Partners, L.P., announced an agreement to jointly develop and distribute high-efficiency motors and advanced motor controllers designed for the mining industry. Matrix will integrate Infinitum’s smaller and lighter motor technology into ARLP’s mining subsidiary equipment to validate performance in various production environments. In addition to supporting installations at ARLP operations, Matrix plans to offer the products globally to third-party mining customers.

Updating estimates. We have trimmed our fourth quarter and full year 2023 EPS estimates to $1.02 and $4.95 from $1.03 and $4.96, respectively. Our full year 2023 EBITDA estimate is $969.9 million compared to our previous estimate of $975.2 million. We have also trimmed our 2024 EBITDA and EPS estimates to $972.8 million and $4.95, respectively, from $998.1 million and $5.05. The revisions reflect lower oil and gas price assumptions relative to our previous estimates. 


Get the Full Report

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

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

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

Release – Infinitum and Alliance Resource Partners, L.P. Announce Agreement to Bring Highly Efficient, Reliable Motor Technology to the Mining Industry

Posted on by aweinsoff@channelchek.com

Research News and Market Data on ARLP

January 16, 2024

This new innovative motor system will create lighter-weight, high performance mining equipment and help electrify heavy industry.

TULSA, Okla.–(BUSINESS WIRE)– Infinitum, creator of the sustainable air-core motor, and Matrix Design Group, LLC (“Matrix”), a wholly owned subsidiary of Alliance Resource Partners, L.P. (“ARLP”) and leading safety and productivity technology provider for mining and industrial applications, today announced an agreement to jointly develop and distribute high-efficiency, reliable motors and advanced motor controllers designed specifically for the mining industry.

Under the agreement, Matrix will integrate Infinitum’s smaller, lighter motor technology into mining equipment of ARLP’s operating subsidiaries to provide performance validation in production environments for the jointly developed products. In addition to supporting installations at ARLP operations, Matrix plans to offer the products to third-party mining customers around the globe.

Infinitum’s patented motor technology will replace traditional, heavy iron-core motors with a motor system that is 50% smaller and lighter, uses 66% less copper, and consumes 10% less energy, and is expected to offer mining companies and equipment manufacturers a more efficient, reliable alternative.

“Working with ARLP and Matrix expands Infinitum’s ability to sustainably power heavy machinery with our lightweight, power-dense motors that use less energy, material and waste,” said Ben Schuler, founder and Chief Executive Officer, Infinitum. “We’re excited to join forces with a mining leader like ARLP to make a greater impact towards electrifying and decarbonizing heavy industry.”

Over the past 15 years, Matrix has become a leader in collision avoidance and proximity detection technologies, providing safety and productivity solutions for ARLP and many other mining companies, while extending its reach beyond the U.S. and to other industrial applications. This agreement builds upon that success and enables the development of proven products that provide technological advancements in support of rapidly expanding customer needs.

Joseph W. Craft III, ARLP Chairman, President and Chief Executive Officer commented, “This collaboration with Infinitum represents a natural progression and extension of our strategic investment in the company. We believe their groundbreaking motor technology will bring much needed innovation to the mining industry by delivering more efficient and higher performing production equipment, which will enable companies such as ours to improve mining processes, reduce operating costs, and boost productivity.”

Infinitum, ARLP, and Matrix have collaborated since 2022, when ARLP made an initial investment in Infinitum as part of the company’s Series D funding.

About Infinitum

Infinitum has raised the bar for a new generation of motors that is better for the planet and people. The company’s patented air core motors offer superior performance in half the weight and size, at a fraction of the carbon footprint of traditional motors, making them pound for pound the most efficient in the world. Infinitum’s electric motors open up sustainable design possibilities for the machines we rely on to be smaller, lighter and quieter, improving our quality of life while also saving energy and reducing waste. Based in Austin, Texas, Infinitum is led by a team of industry experts and pioneers. To learn more, visit goinfinitum.com.

About Alliance Resource Partners, L.P.

ARLP is a diversified energy company that is currently the largest coal producer in the eastern United States, supplying reliable, affordable energy domestically and internationally to major utilities, metallurgical and industrial users. ARLP also generates operating and royalty income from mineral interests it owns in strategic coal and oil & gas producing regions in the United States. In addition, ARLP is evolving and positioning itself as a reliable energy partner for the future by pursuing opportunities that support the advancement of energy and related infrastructure. News, unit prices and additional information about ARLP, including filings with the Securities and Exchange Commission (“SEC”), are available at www.arlp.com. For more information, contact the investor relations department of ARLP at (918) 295-7673 or via e-mail at investorrelations@arlp.com.

About Matrix Design Group, LLC

A leading technology provider in the mining and industrial sectors, Matrix is a wholly owned subsidiary of Alliance Resource Partners, L.P. Since 2006, its core business has been mining safety and providing operations-friendly applications that meet evolving industry regulations. Today, it is developing customer-driven suites of innovative, leading-edge products that balance product advancement in its existing markets with expansion into new, sustainable growth markets.

Headquartered in Newburgh, Indiana, the Matrix Team embraces the concept of hard work, working smart, and collaborating on product development with its customers and strategic partners. As technology evolves, Matrix incorporates the latest innovations, such as artificial intelligence, cloud management, and real-world analytics into its next-generation products. The Matrix Quality Management System (QMS) is certified as being in conformity with ISO 9001:2015 by Intertek. For more information, please visit MatrixTeam.com.

Infinitum Media Contact:
Erin Gilmore
Activate PR on behalf of Infinitum
egilmore@activateprmktg.com
512-466-4559

ARLP Investor Relations Contact:
Cary P. Marshall
Senior Vice President and Chief Financial Officer
918-295-7673
investorrelations@arlp.com

Source: Alliance Resource Partners, L.P.

Release – Alliance Resource Partners, L.P. Announces Fourth Quarter 2023 Earnings Conference Call

Posted on by aweinsoff@channelchek.com

Research News and Market Data on ARLP

January 15, 2024

TULSA, Okla.–(BUSINESS WIRE)– Alliance Resource Partners, L.P. (NASDAQ: ARLP) will report its fourth quarter 2023 financial results before the market opens on Monday, January 29, 2024. Alliance management will discuss these results during a conference call beginning at 10:00 a.m. Eastern that same day.

To participate in the conference call, dial (877) 407-0784 and request to be connected to the Alliance Resource Partners, L.P. earnings conference call. International callers should dial (201) 689-8560 and request to be connected to the same call. Investors may also listen to the call via the “Investors” section of ARLP’s website at www.arlp.com.

An audio replay of the conference call will be available for approximately one week. To access the audio replay, dial U.S. Toll Free (844) 512-2921; International Toll (412) 317-6671 and request to be connected to replay using access code 13743714.

About Alliance Resource Partners, L.P.

ARLP is a diversified energy company that is currently the largest coal producer in the eastern United States, supplying reliable, affordable energy domestically and internationally to major utilities, metallurgical and industrial users. ARLP also generates operating and royalty income from mineral interests it owns in strategic coal and oil & gas producing regions in the United States. In addition, ARLP is evolving and positioning itself as a reliable energy partner for the future by pursuing opportunities that support the advancement of energy and related infrastructure.

News, unit prices and additional information about ARLP, including filings with the Securities and Exchange Commission (“SEC”), are available at www.arlp.com. For more information, contact the investor relations department of ARLP at (918) 295-7673 or via e-mail at investorrelations@arlp.com.

Investor Relations Contact
Cary P. Marshall
Senior Vice President and Chief Financial Officer
(918) 295-7673
investorrelations@arlp.com

Source: Alliance Resource Partners, L.P.

Chesapeake Acquires Southwestern in$7.4 Billion Natural Gas Deal

Posted on by slightbourne@noblecapitalmarkets.com

Chesapeake Energy is making a massive bet on the future of natural gas with its just-announced $7.4 billion all-stock acquisition of rival Southwestern Energy. The deal, announced Thursday morning, will create a natural gas behemoth and make Chesapeake the largest natural gas producer in the United States.

The deal reflects Chesapeake’s bullish outlook on natural gas amid a wave of consolidation in the U.S. energy sector. Major players like Exxon and Chevron have recently snapped up Permian Basin leaders like Pioneer Natural Resources and Hess Corporation with multi-billion dollar deals. Now Chesapeake is looking to cement its dominance in natural gas production through its purchase of Southwestern’s assets primarily located in the Haynesville basin of Louisiana and the Appalachian shale formations.

Chesapeake itself emerged from bankruptcy just two years ago in 2021 and has been aggressively rebuilding under CEO Nick Dell’Osso. It has honed in on natural gas assets and production, believing gas will play an integral role in the global energy transition away from dirtier fossil fuels. Natural gas emits 50-60% less carbon dioxide when combusted compared to coal, but still faces criticism from environmentalists.

The Southwestern deal doubles down on this gas-focused strategy. The combined company will churn out a mammoth 7.9 billion cubic feet per day of natural gas production. That is enough to rocket Chesapeake past EQT Corporation as the top natural gas producer based on volume. Chesapeake already boosted its gas position last year with the $2.5 billion purchase of Chief E&D.

Chesapeake is offering Southwestern shareholders $6.69 per share, representing a slight 3% discount to Southwestern’s last closing share price. The deal values Southwestern at around $7.4 billion. Chesapeake shareholders will own approximately 60% of the merged entity, with Southwestern shareholders owning the remaining 40%.

Southwestern gives Chesapeake key positions in two of the most prolific U.S. natural gas plays. Its Marcellus Shale assets in Pennsylvania and West Virginia dovetail perfectly with Chesapeake’s existing Northeast presence. Southwestern also brings over 700,000 Haynesville acres, solidifying Chesapeake’s status as the dominant player in the basin.

Take a moment to take a look at Noble Capital Markets’ Senior Research Analyst Michael Heim’s coverage universe.

The merger is expected to unlock $350-400 million in annual cost synergies within the first two years, a major boost to cash flows. Chesapeake predicts the deal will be accretive to all relevant 2023 per-share metrics. The combined company will retain Chesapeake’s investment grade credit rating and chop net debt to EBITDAX from 1.5x to under 1.3x in 2023.

Chesapeake CEO Dell’Osso will stay on as chief executive of the merged entity. He called the deal “highly compelling” and said it will “further enhance free cash flow growth and return of capital to shareholders.”

Natural gas prices face near-term headwinds, having plunged over 60% last year due to ballooning inventory levels and mild winter weather. But long-term projections remain bullish, especially if more coal generation is retired and replaced by gas. LNG export facilities continue expanding along the Gulf Coast, offering producers prime access to higher-priced global markets.

Chesapeake is betting big that natural gas will retain a substantial role in the global energy mix even as zero-carbon sources like wind and solar grow. If gas demand rises as expected, Chesapeake will be sitting pretty as the largest U.S. producer. But execution risks remain, as the two companies integrate operations and work through the challenges of joining two complex businesses.

The deal is expected to close in Q2 2024, pending shareholder and regulatory approval. But Chesapeake is already taking a victory lap, believing the tie-up cements its status as a premier U.S. natural gas producer for decades to come.

Haynes International (HAYN) – Lowering Fiscal Year 2024 Estimates; Rating Remains Outperform

Posted on by cpereira@noblefcm.com


Wednesday, January 10, 2024

Haynes International, Inc. is a leading developer, manufacturer and marketer of technologically advanced, nickel and cobalt-based high-performance alloys, primarily for use in the aerospace, industrial gas turbine and chemical processing industries.

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.

Updating estimates. We have lowered our first quarter, second quarter and full year fiscal 2024 earnings per share estimates to $0.70, $1.04, and $4.25 from $0.83, $1.16, and $4.50, respectively. Our full year EBITDA estimate has been reduced to $96.1 million from $100.3 million. The revisions are due mostly to a negative first quarter impact from fluctuations in raw materials prices which we think could extend beyond the first quarter. While the first quarter is typically the company’s weakest, the company made some operational upgrades which may also have impacted efficiency and the mix of products sold during the quarter. Our third and fourth quarter fiscal year 2024 estimates are unchanged.

Impact of falling commodity prices. Raw material price fluctuations can impact Haynes’ results due to its product portfolio being solely high-end nickel and cobalt-based alloys. Production of these alloys generate a significant amount of scrap which is recycled but puts the commodity price risk associated with the scrap on the company and has an impact when market prices change. During the first quarter of fiscal 2024, nickel and cobalt futures prices fell 11.2% and 13.0%, respectively. Following the company’s fourth quarter 2023 earnings release on November 16 through the end of the quarter, nickel and cobalt future prices declined 3.6% and 13.1%, respectively, and have continued to weaken into January. As a reference point, Haynes’ fiscal year ends on September 30.


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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. 

Defense Metals Corp. (DFMTF) – Collaboration with Ucore Rare Metals Expected to Provide Mutual Benefits

Posted on by cpereira@noblefcm.com


Wednesday, January 10, 2024

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

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

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

Collaboration with Ucore Rare Metals. Defense Metals recently executed a non-binding Memorandum of Understanding (MOU) with Ucore Rare Metals Inc. (TSXV: UCU, OTCQX: UURAF) to explore collaborative opportunities to advance each companies’ commercial objectives. Within the next few weeks, Defense Metals will ship a mixed rare earth carbonate sample from its Wicheeda rare earth project to Ucore’s Kingston, Ontario RapidSX commercialization and demonstration facility for testing.

Who is Ucore? Ucore seeks to provide separation products and services to the critical metals industry. Through strategic partnerships, Ucore’s plan includes: 1) developing a vertically integrated North American rare earth element (REE) supply chain, 2) establishing long-term feedstock supply relationships, 3) developing a heavy and light rare earth processing facility in Louisiana, 4) developing subsequent strategic metals complexes in the United States and Canada, 5) establishing long-term relationships with metal/alloy and magnet makers, and 6) the longer-term development of Ucore’s heavy REE mineral resource at Bokan Mountain on Prince of Wales Island, Alaska.


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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. 

Release – Defense Metals to Ship Wicheeda Mixed Rare Earth Carbonate Sample to Ucore Rare Metals Inc.

Posted on by aweinsoff@channelchek.com

Research News and Market Data on DFMTF

09 Jan, 2024, 05:00 ET

Vancouver, BC, Jan. 9, 2024 /CNW/ – Defense Metals Corp. (“Defense Metals” or the “Company“; (TSXV: DEFN) (OTCQB: DFMTF) (FSE: 35D) is pleased to announce the Q4-2023 execution of a non-binding Memorandum of Understanding (“MOU“) with Ucore Rare Metals Inc. (TSXV: UCU) (“Ucore“) to explore collaborative opportunities as both companies move towards their respective commercialization efforts for a North American rare earth element (“REE“) supply chain. As one of the first projects under this MOU, Defense Metals will ship a mixed rare earth carbonate sample from its Wicheeda REE project to Ucore’s Kingston, Ontario, RapidSX™ Commercialization and Demonstration Facility (“CDF“).

SGS Canada Inc. in Lakefield, Ontario, will ship the sample to Ucore’s CDF on behalf of Defense Metals. This sample was generated during 2023 hydrometallurgical piloting test work performed on concentrate produced by earlier flotation pilot plant testing of a 26-tonne bulk sample from Defense Metals’ wholly-owned Wicheeda REE project in British Columbia.

Craig Taylor, CEO of Defense Metals, commented:

“We expect to ship a mixed rare earth carbonate sample in the next few weeks to Ucore’s demonstration plant for testing. The Wicheeda project is being developed as a viable source of REE from North America and as more processing and separation facilities become operational in the future, the demand for REE feedstock will be increasingly important. This MOU with Ucore is a further step in that direction to be part of the Western world’s REE supply chain.”

Pat Ryan, P.Eng., Chairman and CEO of Ucore, stated:

“The opportunity to align closer with Defense Metals is strategically important. The MOU lays out the framework wherein Defense Metals’ technically strong and readily accessible North American REE resource can be further processed and refined using Ucore’s Canadian-founded technology, RapidSX™. Receiving the sample mixed rare earth carbonate at our Kingston CDF will start the process of determining what may be possible between the companies as we collectively look to fuel the 21st-century energy transition.”

Qualified Person

The scientific and technical information contained in this news release as it relates to the Wicheeda REE Project has been reviewed and approved by Kristopher J. Raffle, P.Geo. (B.C.), Principal and Consultant of APEX Geoscience Ltd. of Edmonton, Alberta, and a consultant to the Company, who is a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. 

About the Wicheeda Rare Earth Element Project

Defense Metals’ 100% owned, 8,301-hectare (~20,534-acre) Wicheeda REE Project is located approximately 80 km northeast of the city of Prince George, British Columbia; population 77,000. Wicheeda is readily accessible by all-weather gravel roads and is near infrastructure, including hydro power transmission lines and gas pipelines. The nearby Canadian National Railway and major highways allow easy access to the port facilities at Prince Rupert, the closest major North American port to Asia.

About Defense Metals Corp.

Defense Metals Corp. is a mineral exploration and development company focused on the development of its 100% owned Wicheeda Rare Earth Element Deposit located near Prince George, British Columbia, Canada. Defense Metals Corp. trades on the TSX Venture Exchange under the symbol “DEFN”, in the United States, trading symbol “DFMTF” on the OTCQB and in Germany on the Frankfurt Exchange under “35D”.

Defense Metals is a proud member of Discovery Group. For more information please visit: http://www.discoverygroup.ca/ 

For further information, please visit www.defensemetals.com or contact:

Todd Hanas, Bluesky Corporate Communications Ltd.
Vice President, Investor Relations
Tel: (778) 994 8072
Email: todd@blueskycorp.ca

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 news release.

Cautionary Statement Regarding “Forward-Looking” Information

This news release contains “forward–looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, statements relating to advancing the Wicheeda REE Project, the expected shipment of the sample to Ucore and the expected timeline, the potential collaboration with Ucore, the technical, financial and business prospects of the Company, its project and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of rare earth elements, the anticipated costs and expenditures, accuracy of assay results, performance of available laboratory and other related services, future operating costs, interpretation of geological, engineering and metallurgical data, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration, engineering and metallurgical results, risks related to the inherent uncertainty of exploration, metallurgy and development and cost estimates, the potential for unexpected costs and expenses and those other risks filed under the Company’s profile on SEDAR+ at www.sedarplus.ca. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather and climate conditions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations),  risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of personnel, materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), risks relating to inaccurate geological, metallurgical and engineering assumptions, decrease in the price of rare earth elements, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, loss of key employees, consultants, or directors, increase in costs, delayed results, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward–looking statements or forward-looking information, except as required by law.

All information in this news release concerning Ucore has been provided for inclusion herein by Ucore. Although the Company has no knowledge that would indicate that any information contained herein concerning Ucore is untrue or incomplete, the Company assumes no responsibility for the accuracy or completeness of any such information.

SOURCE Defense Metals Corp.

China’s BYD Overtakes Tesla in EV Sales as Global Competition Heats Up

Posted on by slightbourne@noblecapitalmarkets.com

The electric vehicle (EV) race is heating up on the global stage. Recent data shows Chinese automaker BYD has overtaken Tesla as the top selling EV maker in the fourth quarter of 2023. BYD sold over 525,000 battery electric vehicles from October to December, surpassing Tesla’s nearly 485,000 deliveries.

This shift signals China’s rising prominence as a major force in the EV industry. With enormous growth potential in the world’s largest auto market, Chinese companies like BYD are positioned to reshape the competitive landscape. Their success has wide-ranging implications for investors across the auto and battery supply chains.

BYD’s meteoric growth is fueled by China’s EV-friendly policies. The government has implemented aggressive targets, mandating that new energy vehicles comprise 20% of sales by 2025 and become mainstream by 2035. China is reaching these goals years ahead of schedule thanks to subsidies and infrastructure spending. New energy vehicle sales exceeded 30% of the market in the first 11 months of 2023.

Tesla still led BYD in total global EV sales for full-year 2023, delivering 1.8 million vehicles versus BYD’s 1.57 million. But BYD is closing the gap rapidly, with sales up 73% last year. The company aims to double its international dealer network in 2023 and boost overseas sales five-fold.

To accommodate this growth, BYD plans to construct its first passenger EV plant in Europe. The facility in Hungary will complement BYD’s existing European bus factory. This international expansion mirrors China’s broader effort to increase exports and take on traditional automakers like Volkswagen and Renault in their home markets.

The intense competition has sparked a price war in China, with Tesla and others slashing costs in 2022 to retain market share. While this boosted sales, it eroded industry profit margins. Surging raw material prices also squeezed margins across the supply chain. Battery-grade lithium carbonate rose over 280% last year.

Take a look at some emerging lithium companies by taking a look at Noble Capital Markets’ Senior Research Analyst Mark Reichman’s coverage list.

Sourcing enough lithium and other battery metals remains a concern. According to Benchmark Mineral Intelligence, demand growth for lithium-ion batteries will require global lithium supply to expand eight-fold by 2030. Companies are racing to secure upstream supplies and lithium producers’ stocks have benefited.

But the launch of new mines takes time. Geopolitical factors may also constrain near-term growth in critical mineral supply from key regions like South America. This supply/demand imbalance poses a risk to the pace of EV adoption worldwide.

Investors will closely watch how BYD navigates these headwinds. Vertically integrated automakers like BYD with control over more battery and mineral assets may have an advantage. But no company is immune from margin compression if prices remain elevated.

Regardless, China’s trajectory toward EV supremacy seems clear. The country boasts advantages in scale, cost, and the supply chain that will be difficult for rivals to replicate. Tesla’s position appears secure as the leading global luxury EV brand. But Chinese automakers are poised to dominate the larger mass-market segments.

For investors, this reshuffled landscape demands a reassessment of portfolio positioning. Companies tied to China’s booming EV ecosystem warrant consideration. However, risks around growth assumptions, valuation, and competitive dynamics in a rapidly evolving industry must be weighed. While the road ahead remains challenging, China has signaled plans to set the pace in the global EV race.

Metals & Mining Fourth Quarter 2023 Review and Outlook

Posted on by cpatches

Monday, January 2, 2024

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

Refer to the bottom of the report for important disclosures

Relative performance. During the fourth quarter, mining companies (as measured by the XME) appreciated 14.0% compared to a gain of 11.2% for the S&P 500 index. The VanEck Vectors Gold Miners (GDX) and Junior Gold Miners (GDXJ) ETFs were up 15.2% and 17.6%, respectively. Gold, silver, and copper futures prices gained 11.0%, 7.0%, and 4.1%, respectively, while nickel and lead declined 11.2% and 5.5%. Zinc prices were flat. For the full year 2023, all indices were in positive territory, led by the XME which appreciated 20.1%, but underperformed the S&P 500 which gained 24.2%.

Precious metals outlook. Our outlook for precious metals and precious metals mining equities remains favorable. Factors supporting our view include: 1) the Federal Reserve appears to have reached the end of its tightening cycle, 2) heightened geopolitical uncertainty, 3) growth in U.S. deficit spending and national debt, and 4) increasing investments in gold by central banks. Based on these factors, along with the potential for lower interest rates and a weaker dollar, we think portfolio allocations to precious metals could increase. The futures price of gold rose 13.4% in 2023 and closed the year at $2,071.80 per ounce.

Outlook for industrial and battery metals. While slower economic growth could provide a headwind for industrial metals demand and prices, longer-term secular trends such as electrification remain supportive of supply and demand fundamentals for metals such as copper. Although the longer-term outlooks for battery metals such as lithium, nickel, and cobalt are constructive, the near-term outlook remains challenging due to unfavorable supply and demand fundamentals. In 2023, futures prices for battery grade lithium, nickel and cobalt fell 81.4%, 43.6%, and 44.2%, respectively. Lower near-term prices may slow new development making existing projects attractive and better positioned to take advantage of stronger pricing when demand inevitably accelerates.

Putting it all together. We think the precious metals mining sub-sector is poised for outperformance in 2024. While well-diversified portfolios should have exposure to precious metals, mining equities may offer a stronger current alternative to bullion. In our opinion, junior companies remain attractive based on valuation, and we expect industry consolidation to accelerate as senior producers seek to replenish reserves and resources.

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All statements or opinions contained herein that include the words “we”, “us”, or “our” are solely the responsibility of Noble Capital Markets, Inc.(“Noble”) and do not necessarily reflect statements or opinions expressed by any person or party affiliated with the company mentioned in this report. Any opinions expressed herein are subject to change without notice. All information provided herein is based on public and non-public information believed to be accurate and reliable, but is not necessarily complete and cannot be guaranteed. No judgment is hereby expressed or should be implied as to the suitability of any security described herein for any specific investor or any specific investment portfolio. The decision to undertake any investment regarding the security mentioned herein should be made by each reader of this publication based on its own appraisal of the implications and risks of such decision.

This publication is intended for information purposes only and shall not constitute an offer to buy/sell or the solicitation of an offer to buy/sell any security mentioned in this report, nor shall there be any sale of the security herein in any state or domicile in which said offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or domicile. This publication and all information, comments, statements or opinions contained or expressed herein are applicable only as of the date of this publication and subject to change without prior notice. Past performance is not indicative of future results. Noble accepts no liability for loss arising from the use of the material in this report, except that this exclusion of liability does not apply to the extent that such liability arises under specific statutes or regulations applicable to Noble. This report is not to be relied upon as a substitute for the exercising of independent judgement. Noble may have published, and may in the future publish, other research reports that are inconsistent with, and reach different conclusions from, the information provided in this report. Noble is under no obligation to bring to the attention of any recipient of this report, any past or future reports. Investors should only consider this report as single factor in making an investment decision.

IMPORTANT DISCLOSURES

This publication is confidential for the information of the addressee only and may not be reproduced in whole or in part, copies circulated, or discussed to another party, without the written consent of Noble Capital Markets, Inc. (“Noble”). Noble seeks to update its research as appropriate, but may be unable to do so based upon various regulatory constraints. Research reports are not published at regular intervals; publication times and dates are based upon the analyst’s judgement. Noble professionals including traders, salespeople and investment bankers may provide written or oral market commentary, or discuss trading strategies to Noble clients and the Noble proprietary trading desk that reflect opinions that are contrary to the opinions expressed in this research report.
The majority of companies that Noble follows are emerging growth companies. Securities in these companies involve a higher degree of risk and more volatility than the securities of more established companies. The securities discussed in Noble research reports may not be suitable for some investors and as such, investors must take extra care and make their own determination of the appropriateness of an investment based upon risk tolerance, investment objectives and financial status.

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Noble is not a market maker in any of the companies mentioned in this report. Noble intends to seek compensation for investment banking services and non-investment banking services (securities and non-securities related) with any or all of the companies mentioned in this report within the next 3 months

ANALYST CREDENTIALS, PROFESSIONAL DESIGNATIONS, AND EXPERIENCE

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

WARNING

This report is intended to provide general securities advice, and does not purport to make any recommendation that any securities transaction is appropriate for any recipient particular investment objectives, financial situation or particular needs. Prior to making any investment decision, recipients should assess, or seek advice from their advisors, on whether any relevant part of this report is appropriate to their individual circumstances. If a recipient was referred to Noble Capital Markets, Inc. by an investment advisor, that advisor may receive a benefit in respect of
transactions effected on the recipients behalf, details of which will be available on request in regard to a transaction that involves a personalized securities recommendation. Additional risks associated with the security mentioned in this report that might impede achievement of the target can be found in its initial report issued by Noble Capital Markets, Inc.. This report may not be reproduced, distributed or published for any purpose unless authorized by Noble Capital Markets, Inc..

RESEARCH ANALYST CERTIFICATION

Independence Of View
All views expressed in this report accurately reflect my personal views about the subject securities or issuers.

Receipt of Compensation
No part of my compensation was, is, or will be directly or indirectly related to any specific recommendations or views expressed in the public
appearance and/or research report.

Ownership and Material Conflicts of Interest
Neither I nor anybody in my household has a financial interest

Maple Gold Mines (MGMLF) – Expectations for 2024

Posted on by cpereira@noblefcm.com


Tuesday, January 02, 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.

Year-end shareholder letter. In a year-end letter to shareholders, Maple Gold’s CEO summarized key priorities and reasons for optimism in 2024. Coupled with productive drill programs in 2023, the company has made significant technical progress by leveraging its extensive database to develop drill targets that are supported by geologic and economic criteria. Management views drilling success as the clearest path to shareholder value creation and expects to elaborate on its exploration plans in early January.

Themes for 2024. Key themes for 2024 include adopting a value-oriented approach to exploration and prudent capital management. Corporate overhead costs are down significantly, and shareholders can anticipate further reductions going forward. As of September 30, Maple Gold Mines reported cash and cash equivalents amounting to C$4.4 million and marketable securities amounting to C$336.4 thousand. Approximately C$6.0 million remains available from Agnico Eagle to fund Douay-Joutel joint venture exploration through January 2025.


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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.