Category: Natural Resources

Defense Metals Corp. (DFMTF) – On a Roll

Posted on by cpereira@noblefcm.com


Wednesday, March 20, 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.

Appointment of corporate financial adviser. Defense Metals appointed HCF International Advisers Ltd., a London-based corporate financial advisory firm, to conduct a strategic funding review for the company’s Wicheeda Rare Earth Elements Project. The review will help Defense Metals analyze and evaluate potential funding and strategic partnership options associated with the development of the Wicheeda Project post completion of its preliminary feasibility study (PFS). HCF’s experience in financing globally recognized mining projects include its role as financial adviser to Arafura Rare Earths Limited (ASX: ARU) in the financing of the Nolan Project in Australia.

Upcoming preliminary feasibility study. Defense Metals expects to complete a PFS in the second calendar quarter of 2024 for which metallurgical test work has been completed. Bench-scale and hydrometallurgical pilot plant test work indicates the planned acid bake process will deliver approximately 90% total rare earth oxide (TREO) extraction from the mineral concentrate to a mixed rare earth carbonate product.


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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. 

Release – Defense Metals Appoints HCF International Advisers for Strategic Funding Review of Wicheeda REE Project

Posted on by aweinsoff@channelchek.com

Research News and Market Data on DFMTF

19 Mar, 2024, 03:01 ET

VANCOUVER, BC, March 19, 2024 /PRNewswire/ – Defense Metals Corp. (“Defense Metals” or the “Company“; (TSXV: DEFN) (OTCQB: DFMTF) (FSE: 35D) is pleased to announce the appointment of HCF International Advisers Limited (“HCF“), a leading global independent corporate finance advisory boutique based in London, UK, to conduct a strategic funding review for the Company’s wholly-owned Wicheeda Rare Earth Element (REE) Project located in British Columbia, Canada.

HCF specializes in providing comprehensive financial advisory services with a primary focus on the metals and mining sector. The strategic funding review will, among other things, assist Defense Metals in thoroughly analyzing potential funding options and strategic partnerships for the development and advancement of the Wicheeda REE Project beyond the completion of its Preliminary Feasibility Study (PFS) expected in Q2 2024.

Craig Taylor, CEO of Defense Metals, commented:

“We are thrilled to collaborate with HCF International Advisers for a strategic funding review of our Wicheeda REE Project. Following our PFS, as we navigate the dynamic landscape of the metals and mining sector, having HCF’s expertise on board will be instrumental in evaluating and pursuing optimal funding and strategic partnership opportunities, especially in Europe.” 

About HCF International Advisers

HCF International Advisers is a leading independent corporate finance advisory boutique based in London, UK, specializing in providing strategic financial advice to companies in the metals and mining sector. With a commitment to excellence, HCF has a proven track record of assisting clients in navigating complex financial landscapes.

HCF is led by Guy de Sellier de Moranville, President and Co-founder, and Sean Gorman, CEO and Managing Director. HCF’s expertise in the financing of internationally recognized mining projects and, in particular, critical minerals, is evidenced by its involvement as financial adviser to projects in Canada, Africa and in particular to Arafura Rare Earths Limited on the financing of the Nolans NdPr Project (Northern Territory, Australia).

Guy de Selliers de Moranville – President and Co-founder of HCF

Guy is a seasoned finance professional with a distinguished career. He served as a Senior Advisor to the Atlantic Council’s Future Europe Initiative and played key roles in advising the European Commission and co-chairing a joint European/Russian task force for strategic energy projects. Mr de Selliers has held executive positions at Robert Fleming and Co Ltd, was a member of the senior executive team which created the European Bank for Reconstruction and Development (EBRD), and served as Senior Vice President at Lehman Brothers.

He has been a member of the board of directors of many influential organizations such as Solvay Group, Ageas Group, AG Insurance Belgium, Ivanhoe Mining, Pamplona, I Pulse, The Cranemere Group Ltd, Renewable Energy Foundation, and Drive Forward. Mr de Selliers, with a Master’s degree in engineering and a Master’s degree in economics from Louvain University in Belgium, is widely respected for his diverse expertise across various sectors, making him a valuable asset in the international business community. 

Sean Gorman – CEO & Managing Director of HCF

Sean has over 30 years of experience in the natural resources sector. As a Chartered Engineer, he led the design and construction of oil refineries and onshore gas plants around the world prior to moving into banking, where he worked in project finance and debt restructuring for the power sector. Subsequent to that he was Head of Business Development for a renewable energy company involved in equity investment prior to a successful sale of the company. As CEO of HCF Sean has worked on the financing for a wide range of projects across multiple jurisdictions and commodities though in recent years has had a strong focus on critical minerals and is leading the financing of the Arafura NdPr Project in Australia.

About Defense Metals Corp. and its Wicheeda Rare Earth Element Project

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

The Wicheeda REE Project, approximately 80 kilometres (~50 miles) northeast of the city of Prince George, is readily accessible by a paved highway and all-weather gravel roads and is close to 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.

Defense Metals is a proud member of Discovery Group. For more information please visit:
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 the engagement of HCF, potential funding options and strategic partnerships, completion of a preliminary feasibility study on the Wicheeda REE Project, advancing the Wicheeda REE Project, the expectations and plans for the Wicheeda REE Project, 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, 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 and metallurgical results, risks related to the inherent uncertainty of exploration and development and cost estimates, the potential for unexpected costs and expenses and those other risks filed under the Company’s profile on SEDAR+ (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 or obtain 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, engineering and pricing assumptions, decrease in the price of rare earth elements, the impact of viruses and diseases on the Company’s ability to operate, restriction on labour and international travel and supply chains, loss of key employees, consultants, officers 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.

Maple Gold Mines (MGMLF) – Reorienting the Company for Successful Outcomes

Posted on by cpereira@noblefcm.com


Friday, March 15, 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.

Outlook for 2024. Since his appointment as CEO, Mr. Kiran Patankar has re-oriented and re-positioned the company for successful outcomes by expanding the geological team, taking an axe to corporate general and administrative expenses, and strengthening the data driven exploration program to refine the targeting process. Maple Gold is in the process of updating three dimensional models for Douay and Joutel and prioritizing targets. The next phase of drilling is expected to commence this year, along with a follow-up program at Eagle. We expect more details regarding the next phase of drilling in April.

Technical bench strength. Maple Gold recently added three members to its geological team, including Mr. Daniel Johansson, Senior Exploration Geologist, Mr. Remi Clairet, Project Geologist, and Mr. Jackie Long, Database and Modeling. We think the collaborative effort of an expanded team, along with managing its database in-house, will sharpen and enhance the accuracy of target generation. The team will work in close collaboration with Agnico Eagle’s exploration team.


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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. 

Haynes International (HAYN) – Revising Near-Term Estimates; Merger Update

Posted on by cpereira@noblefcm.com


Tuesday, March 12, 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.

Merger update. Haynes International recently filed preliminary proxy materials in anticipation of a special meeting of stockholders to vote on the company’s proposed merger with North American Stainless, Inc., a wholly owned subsidiary of Acerinox S.A. Acerinox is a leader in the manufacturing and distribution of stainless steel and high-performance alloys and will acquire all the outstanding shares of Haynes for $61.00 per share in an all-cash transaction. While the date of the shareholder meeting has not been announced, we believe it is tentatively planned for April 2024.

Closing is expected in the third calendar quarter.The transaction has been unanimously approved by the board of directors of both companies and is expected to close in the third calendar quarter of 2024, subject to the satisfaction of closing conditions, including receipt of regulatory approvals and approval by Haynes stockholders. Acerinox will invest an additional $200 million into its U.S. operations, including $170 million into Haynes’ operations to help modernize and expand capacity to support continued growth in both flat and round products.


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. 

ATHA Energy and Latitude Uranium Complete Merger to Create Uranium Powerhouse

Posted on by slightbourne@noblecapitalmarkets.com

In a major development in the uranium mining sector, ATHA Energy Corp. and Latitude Uranium Inc. announced the successful completion of their merger on March 7, 2024. Through this strategic transaction, ATHA has acquired 100% of the outstanding common shares of Latitude Uranium, making the latter a wholly-owned subsidiary.

The merger brings together two promising uranium players, combining their complementary assets and expertise to create a formidable force in the industry. Latitude Uranium shareholders received 0.2769 ATHA common shares for each share held, resulting in ATHA issuing approximately 64.4 million new shares.

This deal marks a significant milestone for ATHA, adding historical resources to its portfolio and expanding its reach across multiple high-grade uranium jurisdictions. The combined company now boasts a diverse range of exploration catalysts, including the Angilak and CMB uranium discoveries, with historical resource estimates of 43.3 million lbs and 14.5 million lbs U3O8, respectively.

Moreover, ATHA now holds the largest cumulative exploration package in both the Athabasca Basin and Thelon Basin, two of the world’s most prominent basins for uranium discoveries, with a total of 6.5 million acres. Additionally, the company has a 10% carried interest in a portfolio of claims in the Athabasca Basin operated by industry leaders NexGen Energy Ltd. and IsoEnergy Ltd.

Troy Boisjoli, CEO of ATHA, expressed enthusiasm about the merger, stating, “This acquisition marks a significant milestone for the Company by adding historical resource to our portfolio and enabling us to expand the reach of our robust balance sheet across a diverse range of exploration catalysts.”

The Resurgence of Uranium Mining

The ATHA-Latitude Uranium merger comes at a time when the uranium mining industry is experiencing a resurgence, driven by the global push towards clean energy and the pivotal role of nuclear power in achieving carbon neutrality goals.

As countries around the world seek to reduce their reliance on fossil fuels and transition to more sustainable energy sources, the demand for uranium is expected to increase significantly. Nuclear power plants, which generate electricity without emitting greenhouse gases, are attracting renewed interest as a viable solution to meet energy needs while addressing climate change concerns.

This resurgence has sparked a flurry of activity in the uranium mining sector, with companies scrambling to secure promising exploration projects and develop new mines to meet the anticipated demand. Established players and emerging companies alike are vying for a share of this lucrative market, fueled by the potential for substantial returns on investment.

However, the uranium mining industry is not without its challenges. Stringent regulations, environmental concerns, and the need for significant capital investment present hurdles that companies must navigate cautiously. Responsible exploration and mining practices, combined with robust risk management strategies, are crucial for long-term success in this sector.

Nonetheless, the ATHA-Latitude Uranium merger positions the combined entity as a formidable player in the uranium mining landscape. With a diverse portfolio of assets, historical resources, and strategic partnerships, the company is well-positioned to capitalize on the growing demand for uranium and contribute to the global transition towards a more sustainable energy future.

As the world grapples with the twin challenges of meeting energy needs and addressing climate change, the uranium mining industry is poised to play a pivotal role. Companies like ATHA, armed with extensive resources and a solid growth strategy, may emerge as key players in this exciting and rapidly evolving sector.

Take a moment to take a look at Noble Capital Markets’ Senior Research Analyst Mark Reichman’s coverage list.

Gold Shines Bright: Record Highs and Opportunities for Investors

Posted on by slightbourne@noblecapitalmarkets.com

In a world of economic uncertainty and geopolitical tensions, gold has once again proven its mettle, reaching unprecedented heights and capturing the attention of investors worldwide. On Tuesday, March 5, 2024, the precious metal achieved a historic milestone, with its price soaring to an all-time high of $2,141.79 per ounce, surpassing the previous record set just three months ago.

This remarkable rally, fueled by a confluence of factors, serves as a reminder of gold’s enduring appeal as a safe-haven asset and a hedge against market volatility. As investors navigate the ever-changing landscape of financial markets, the demand for gold has surged, driven by expectations of a potential pivot by the Federal Reserve toward monetary easing, geopolitical tensions, and the looming risk of a stock market correction.

At the heart of gold’s ascent lies the anticipation of a shift in monetary policy by the Fed. With signs indicating a potential easing of interest rates on the horizon, investors have flocked to the precious metal, which typically benefits from lower borrowing costs. Swaps markets currently reflect a 64% chance of a rate cut in June, a higher probability than early last month, further fueling speculation and driving gold’s allure.

Moreover, the world stage has been characterized by escalating geopolitical tensions, with conflicts and uncertainties on various fronts. The attacks on shipping in the Red Sea, highlighting the volatile situation in the Middle East, have underscored the need for safe-haven assets like gold. As investors seek refuge from these turbulent times, the precious metal’s role as a hedge against turmoil has been reinforced.

The specter of a potential stock market correction has also played a significant role in gold’s ascent. With weak U.S. manufacturing data on Friday serving as a warning sign, investors have sought to mitigate risk by diversifying their portfolios and turning to the time-honored stability of gold.

While the surge in gold prices has been remarkable, it is important to note that this rally has highlighted a growing disconnect between spot prices and outflows from bullion-backed exchange-traded funds (ETFs). Persistent central bank demand for the precious metal and robust physical demand from gold bars and coins have helped offset these outflows, underscoring the broad-based appeal of gold across various investor segments.

As we look ahead, the factors driving gold’s recent success show no signs of abating. The upcoming U.S. presidential election, coupled with China’s economic woes, create a potentially volatile environment ripe for safe-haven investments. Additionally, gold’s role as an inflation hedge cannot be overlooked, as the precious metal has historically served as a bulwark against eroding purchasing power.

For investors seeking to capitalize on this golden opportunity, a well-diversified portfolio that includes exposure to gold can offer a measure of protection against market turbulence and geopolitical uncertainties. Whether through physical holdings, gold-backed ETFs, or mining stocks, there are numerous avenues to gain exposure to this precious commodity.

However, it is crucial to approach gold investments with a long-term perspective and a thorough understanding of the market dynamics. While gold has surpassed its previous nominal highs, its inflation-adjusted peak from 1980 would equate to more than $3,000 in today’s dollars, highlighting the potential for further upside.

In conclusion, gold’s record-breaking performance serves as a testament to its enduring value and resilience in the face of economic and geopolitical uncertainties. As investors navigate the complexities of today’s financial landscape, the precious metal’s allure as a safe-haven asset and a hedge against volatility remains undimmed. By carefully considering gold’s role within a diversified portfolio, investors can position themselves to weather potential storms and capitalize on the opportunities that arise in times of uncertainty.

Labrador Gold Corp. (NKOSF) – On the Right Trajectory

Posted on by cpereira@noblefcm.com


Tuesday, March 05, 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.

Recent drill results. Exploration and drilling at the company’s 100%-owned Kingsway gold project is targeting the Appleton Fault over a 12-kilometer strike length. With almost 92,000 meters of the company’s planned 100,000-meter drilling program completed, the company has approximately C$7 million in cash on hand. Assays are pending for samples from approximately 4,000 meters of core. The company recently released results for holes drilled at the Northeast extension of Big Vein, Knobby, and a follow-up hole at the HM occurrence.

Long interval of high-grade gold at Big Vein. Hole K-23-309 drilled at Big Vein intersected several intervals over the length of the hole, including 10.63 grams of gold per tonne over 5.9 meters that included 46.72 grams of gold per tonne over 1 meter, 1.41 grams of gold per tonne over 2 meters, and 2.2 grams of gold per tonne over 8.3 meters that included 12.07 grams of gold per tonne over 0.8 meters.


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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 – Labrador Gold Announces Assays Up to 479.5G/T Au in Surface Samples From Golden Glove

Posted on by aweinsoff@channelchek.com

Research News and Market Data on NKOSF

August 23, 2022 08:00 ET

TORONTO, Aug. 23, 2022 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce assays from six samples containing visible gold recently collected during prospecting in the Golden Glove area at its 100% owned Kingsway Project. The samples were collected as part of the Company’s continuous efforts to generate and upgrade targets for drilling along the 12km strike length of the Appleton Fault Zone covered by the Kingsway Property.

The samples were taken from quartz veins believed to be splays off the original Golden Glove vein. Assays of the six samples ranged from 7.51 g/t to 479.51 g/t Au. The quartz veins are hosted by grey and black shales and are typically vuggy and locally stylolitic with iron carbonate alteration. The four highest grade samples contain visible gold, and all samples contain between 2 and 5% pyrite and arsenopyrite both in the vein and along the contact with the shale wallrock. These results are comparable to assays from the initial samples taken at Golden Glove that ranged from 2.99 to 338.08g/t Au (see news release dated September 21, 2021).

“The discovery of more veins containing high-grade gold at surface is encouraging as it gives us additional information on the structural context of the mineralization at Golden Glove and will allow more efficient drill targeting.” said Roger Moss, President and CEO. “Drilling to date has been following up recent high-grade intersections of 20.07 g/t Au over 1m in Hole K-22-154 and 6.22 g/t Au over 4m in hole K-22-150 located approximately 160m south of the discovery outcrop. Given the high-grade nature of these veins we will certainly look to specifically target them in our ongoing drilling at Golden Glove.”

Sample
ID		Sample
type		Rock TypeAu (g/t)
853601*GrabQuartz Vein 479.51
853602*GrabQuartz Vein 81.49
853603*GrabQuartz Vein 114.72
853604*GrabQuartz Vein 34.90
853605GrabQuartz Vein 7.51
853606GrabQuartz Vein 12.25

* Sample contains visible gold. Note that grab samples are select samples and
are not necessarily representative of gold mineralization found on the property.

Figure 1. Portion of Sample 853601 showing visible gold grains in quartz and country rock.
https://www.globenewswire.com/NewsRoom/AttachmentNg/535e38c4-278d-4f70-8798-e2338a3eae1a

Figure 2. Location map of Kingsway gold occurrences showing recent results at Golden Glove.
https://www.globenewswire.com/NewsRoom/AttachmentNg/fea783dc-89b0-40f2-9eb0-46afd5858897

QA/QC

All samples are securely stored prior to shipping to Eastern Analytical Laboratory in Springdale, Newfoundland for assay. Eastern Analytical is an ISO/IEC17025 accredited laboratory. Samples were assayed by metallic screen/fire assay. The whole sample is crushed to -10mesh and pulverized to 95% -150mesh. The total sample is then weighed and screened through 150mesh. Both the +150mesh fraction and a 30g subsample of the -150mesh fraction are fire assayed for Au and a calculated weighted average of total Au in the sample is reported. The company routinely submits blanks and certified reference standards at a rate of approximately 5% of the total samples in each batch.

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.

The Company gratefully acknowledges the Newfoundland and Labrador Ministry of Natural Resources’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway property.

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 gold occurrences in the region, including those of New Found Gold immediately to the south of Kingsway. 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 $25 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 169,189,979 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB and on the OTCQX under the symbol NKOSF.

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.

Release – Defense Metals Ships Mixed Rare Earth Carbonate Samples to two major REE companies

Posted on by aweinsoff@channelchek.com

Research News an Market Data on DFMTF

04 Mar, 2024, 07:00 ET

VANCOUVER, BC, March 4, 2024 /PRNewswire/ – Defense Metals Corp. (“Defense Metals” or the “Company“; (TSXV: DEFN) (OTCQB: DFMTF) (FSE: 35D) is pleased to announce that samples of mixed rare earth carbonate (“MREC“) have been shipped to two major Rare Earth Element (“REE“) companies. Samples generated by SGS Canada Inc. in Lakefield, Ontario during 2023 hydrometallurgical piloting test work performed on concentrate produced by earlier flotation pilot plant testing of a 26-tonne bulk sample taken from the Company’s wholly-owned Wicheeda deposit have now been sent to almost every REE separator in the world.

MREC samples shipped to the recipients are independently verifying the high-quality of the REE product from the Wicheeda deposit, and further establishing Defense Metals’ Wicheeda REE Project as a critically important, future North American source of rare earths.

Craig Taylor, CEO of Defense Metals, commented:

“Defense Metals continues to advance the Wicheeda Project, establishing it as one of the few western world REE projects that has the key characteristics required for a viable REE project including: (1) location and  superior logistics, (2) minerology, metallurgy, and grade, (3) the ability to produce a REE product as established by pilot plant operations , (4) significant potential mine life, and (5) social licence and support of the McLeod Lake Indian Band. Defense Metals believes strongly that Wicheeda will play a key role in establishing North American REE supply chains; first and foremost, with respect to mining and hydrometallurgical processing, and ultimately with respect to the onshoring of downstream REE separation, refining and metallizing capabilities. Defense Metals is positioned as one of the very few North American REE companies having true ability to achieve this vision.” 

Defense Metals to Attend the Prospectors & Developers Association of Canada Convention  

Defense Metals will be attending the Prospectors & Developers Association of Canada (PDAC) Convention in Toronto, Canada from March 3 to March 6, 2024, and invites interested parties to visit the Company at Booth #2500 and at Discovery Group’s Booth #2630.

Qualified Person

This news release has been reviewed and approved by Kristopher J. Raffle, P.Geo. (B.C.), a Principal of APEX Geoscience Ltd., of Edmonton, Alberta, a technical consultant to the Company, and a “Qualified Person” as defined in NI 43-101.

About Defense Metals Corp. and its Wicheeda Rare Earth Element 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) Wicheeda REE Project that is located on the traditional territory of the McLeod Lake Indian Band in British Columbia, Canada.

The Wicheeda REE Project, approximately 80 kilometres (~50 miles) northeast of the city of Prince George, is readily accessible by a paved highway and all-weather gravel roads and is close to 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.

Defense Metals is a proud member of Discovery Group. For more information please visit: 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 attending PDAC and related meetings, advancing the Wicheeda REE Project, the expectations and plans for the Wicheeda REE Project, 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, 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 and metallurgical results, risks related to the inherent uncertainty of exploration and development and cost estimates, the potential for unexpected costs and expenses and those other risks filed under the Company’s profile on SEDAR+ (www.sedarplus.com). 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 or obtain 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, engineering and pricing 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, restriction on labour and international travel and supply chains, loss of key employees, consultants, officers 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–loo

Labrador Gold Corp. (NKOSF) – Putting a Spotlight on the Hopedale Project

Posted on by cpereira@noblefcm.com


Friday, March 01, 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.

Labrador Gold investor webinar. Labrador Gold recently hosted an investor webinar to discuss its Hopedale Project, a district-scale gold and critical metals property in Labrador that covers a 43-kilometer strike length of the Florence Lake greenstone belt. Hopedale is comprised of five licenses covering 785 claims. In addition to gold, the property has nickel and copper potential.

Nine mineral occurrences to date. To date, nine mineral occurrences have been identified within three license areas, including five gold, two nickel, one copper and one zinc. Within the Thurber License, five occurrences have been identified that include: 1) TD 500, 2) Thurber Dog, 3) Thurber South, 4) Thurber North, and 5) Kaapak. Within the Southern License area, three mineral occurrences have been identified, including: 1) Fire Ant, 2) Rusty Ridge, and 3) Last Resort. The ninth occurrence is Jasmine. Targets within the Thurber license area have the highest priority for drilling with TD 500 being the highest priority drill target in 2024 following an IP geophysical survey to guide the drilling. 


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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. 

Comstock Inc. (LODE) – Thoughts on UPLODE24

Posted on by cpereira@noblefcm.com


Thursday, February 29, 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.

UPLODE 2024. Comstock Inc. recently hosted its UPLODE24 investor webinar which provided an opportunity to hear directly from business leaders associated with Comstock’s business units, along with Quantum Generative Materials (GenMat). More broadly, the event underscored Comstock Inc.’s unique approach to drive innovation to improve business outcomes and accelerate the commercialization of decarbonization technologies.

Key catalysts in 2024. Investors can look forward to an eventful year in 2024 as Comstock Metals commissions its material recovery facility and begins generating cash flow, along with expanding its supplier commitments. We expect Comstock Fuels will move closer to commercialization as it executes commercial agreements for joint development projects and expands, integrates, and commissions a continuous bio-intermediate production system to produce cellulosic ethanol and hydro-deoxygenated bioleum oil. Additionally, external venture capital funding for Quantum Generative Materials could put a spotlight on the value of Comstock’s investment. Lastly, disposition of Comstock’s remaining Green Li-ion preferred shares and properties in Silver Springs, Nevada could provide proceeds of up to $60 million that could significantly enhance the company’s financial flexibility.


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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. 

Atlas Cementing Position as Top Frac Sand Supplier with $450M Hi-Crush Deal

Posted on by slightbourne@noblecapitalmarkets.com

Texas-based Atlas Energy Solutions announced a definitive agreement this week to acquire major frac sand producer Hi-Crush in a deal valued at $450 million. The acquisition will expand Atlas’ production capacity and logistics capabilities, cementing its position as the largest integrated frac sand provider in the vital Permian Basin oilfields.

The upfront payment includes $150 million in cash and $175 million in Atlas common stock. An additional $125 million deferred cash payment was also agreed in the form of a seller’s note. The deal is expected to close within weeks, likely before the end of Q1 2024.

For oilfield services provider Atlas, the purchase significantly bulks up its presence across the Permian, where the majority of US shale oil production is centered. Atlas gains Hi-Crush’s sand mining and processing facilities in the basin as well as its advanced logistics services.

Most notably, Hi-Crush operates the OnCore processing network, which uses mobile sand mine and coating units that can be quickly deployed near well sites. OnCore’s distributed approach minimizes transportation costs and complex logistics getting sand to customers.

Hi-Crush also owns the Pronghorn logistics business, which provides sand delivery and wellsite storage services across multiple shale basins. Pronghorn will complement Atlas’ own Dune Express last-mile trucking operations in the Delaware Basin portion of the Permian.

Combined, the deal creates a frac sand production and delivery juggernaut with true basin-wide coverage. Atlas CEO Bud Brigham called the deal “transformative for our industry, employees, customers, and shareholders.”

Doubling Down on the Permian

The Permian Basin is the epicenter of US shale, accounting for over 40% of total oil production. With activity rebounding amid higher energy prices, reliable local sources of frac sand are in high demand.

Atlas says the acquired assets will boost its total sand production capacity to around 28 million tons per year. Over 80% of its expanded capacity is already contracted, guaranteeing strong cash flow.

Management expects Hi-Crush to contribute $110-125 million in additional EBITDA in 2024 alone. The valuation of about 3 times EBITDA is seen as attractive by Atlas.

Combined operations across its Midland and Delaware Basin hubs will also drive significant cost efficiencies. Optimized logistics and asset utilization could yield over $20 million in annual savings by 2026 according to Atlas projections.

The single largest driver of well productivity gains in shale has been using more sand per frack. Sand volumes have doubled over the past decade. Reliable regional sand mines and efficient last-mile delivery offered by the merged Atlas-Hi-Crush will be key to this trend continuing.

Deal Could Kickstart Consolidation

The Atlas-Hi-Crush deal is the largest merger in the frac sand space since Covia Holdings combined Fairmount Santrol and Unimin Corporation in 2018. It could mark the return of consolidation for an industry that remains fragmented.

With sand demand direct correlated to drilling activity, the sector saw major distress when oil prices cratered during the pandemic. A wave of sand mine closures and bankruptcies ensued.

Now with activity resurging, the remaining suppliers are ripe for consolidation. As the new clear capacity leader, Atlas will be a prime mover in any forthcoming deals. The company could look to expand beyond its Permian base into other major shale basins like the Eagle Ford and Bakken.

Competitors will also look to bulk up to remain competitive. Smaller players reliant on 3rd party logistics may need to team up to match the integrated model that Atlas has now assembled via M&A.

Another motivator for deals is the large capital investments needed for next-generation sand mines and processing plants. Building greenfield capacity from scratch is challenging, making acquiring existing assets logical. Larger players can also negotiate better long-term customer contracts.

What’s Next for Atlas

For Atlas leadership, executing the integration of Hi-Crush assets and personnel will be the top priority in coming months. Realizing projected synergies through joint logistics operations will be vital.

The company will also continue building out its Dune Express trucking fleet and last-mile transloading facilities. Completing this Permian-wide sand delivery network remains core to its strategy.

With sand capacity now exceeding demand, maintaining a cost advantage will be crucial if drilling activity slows. Optimized logistics and Basin-wide scale gives Atlas flexibility to withstand any turbulence ahead.

Thanks to its ample cash reserves and still-prudent balance sheet, the company also has latitude to continue pursuing acquisitions or invest in new technologies that widen its moat. More deals to bolster Atlas’ capabilities beyond frac sand provision could be in the cards.

Take a moment to take a look at Noble Capital Markets’ Senior Research Analyst Mark Reichman’s coverage list.

Alliance Resource Partners (ARLP) – Lowering 2024 Estimates; Rating Remains an Outperform

Posted on by cpereira@noblefcm.com


Friday, February 23, 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.

Updating our financial model. We have lowered our 2024 EBITDA and EPU estimates to $846.9 million and $3.98 from $935.9 million and $4.64, respectively. Our revisions are due mostly to changes in and our treatment of coal royalty revenue and equity method investment income. In our model, coal royalty revenues are included in other revenues. Because equity method investment income fluctuates, we decided not to include it in our forward estimates for the time being. Lastly, we updated our oil and gas price deck which reflects modestly lower forward gas prices.

A strong growth track record. In 1999, the partnership went public in an initial public offering. In 2000, ARLP generated revenue of $363.5 million, EBITDA of $71.3 million and net income of $15.6 million or $0.98 per unit. In 2023, the partnership generated revenue of $2.6 billion, EBITDA of $933.1 million and net income of $636.2 million or $4.81 per unit. While ARLP’s coal sales increased from 15.0 million tons to 34.4 million tons in the intervening years, ARLP’s revenue streams have also become more diversified.


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.