Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Proving it can be done. Cypress achieved a major milestone with the production of 99.94% lithium carbonate (Li2CO3) made from lithium-bearing claystone from the company’s Clayton Valley Lithium Project in Nevada. The Li2CO3 was made using intermediate concentrated lithium solution, or ~2,200 parts per million lithium, produced at Cypress’ lithium extraction facility. Following direct lithium extraction (DLE) at the pilot plant, Saltworks Technologies completed the processing system design and pilot work to make the battery grade Li2CO3. Cypress has engaged Saltworks to integrate their designs into Cypress’ pilot plant program.
Suitable for use in electric vehicle batteries. The samples produced surpass minimum industry requirements for standard battery grade, or >99.5% Li2CO3, used in electronics and achieved industry requirements for enhanced battery grade Li2CO3 for use in electric vehicle batteries. Independent analyses of product samples were completed by SGS Canada Inc.
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.
September 19, 2022 – Vancouver, Canada – Cypress Development Corp. (TSXV: CYP) (OTCQX: CYDVF) (Frankfurt: C1Z1) (Cypress or Company) is pleased to report it has achieved a significant milestone with the production of 99.94% lithium carbonate (Li2CO3) made from lithium-bearing claystone from the Company’s 100%-owned Clayton Valley Lithium Project in Nevada, USA (Project). The Li2CO3 was derived from the intermediate concentrated lithium solution produced at Cypress’ Lithium Extraction Facility in Amargosa Valley, Nevada (Pilot Plant). Following direct lithium extraction (DLE) at the Plant, Saltworks Technologies Inc. (Saltworks) completed the processing system design and pilot work to make the Li2CO3.
“These are excellent results for the initial iteration of testing and will be incorporated into our on-going Feasibility Study on the Project” stated Bill Willoughby, Cypress President, and CEO. “We are pleased to receive comprehensive assays validating the extraction process we have designed for our Project. Exceeding the standard for battery grade lithium carbonate checks-off an important goal for the Company and its further development of the Project.”
Cypress executed pilot operations through to production of ‘three nines’ Li2CO3 that exceeds the standard battery grade specifications below. All processing was completed with material from the Company’s Project in an end-to-end automated pilot plant that represents full scale production. Independent analyses of product samples were completed by SGS Canada Inc., with the results showing greater than 99.9 weight-percent (wt%) purity in a scalable representative process.
CONSTITUENT
CONCENTRATION
BATTERY GRADE SPEC – LI2CO3
CYPRESS LI2CO3
Li2CO3
wt%
>99.5%
99.94%
H2O
wt%
<0.5%
0.01%
Na
wt%
<0.05%
0.02%
Ca
wt%
<0.04%
0.02%
Al
Wppm
<10
6
Cu
Wppm
<5
<4
Ni
Wppm
<6
<5
Zn
Wppm
<5
<5
Cl
wt%
<0.01%
0.008%
Notes: wt% (weight percent), wppm (weight parts per million)
“Our team is pleased with the outcome at Saltworks, and their support of our Project,” stated Bill Willoughby. “Cypress has engaged Saltworks to integrate their designs into our pilot plant program and look forward to their continued work on the Project.”
The final product surpasses industry requirements for standard battery grade Li2CO3 and has achieved industry requirements for enhanced battery grade Li2CO3 for xEV use. It is common practice for lithium battery manufactures to have specific requirements for Li2CO3 used in their products dependant on application.
Qualified Person Daniel Kalmbach, CPG, is the qualified person as defined by National Instrument 43-101 and has approved the technical information in this release.
About Cypress Development Corp Cypress Development Corp. is a Canadian based advanced stage lithium company, focused on developing its 100%-owned Clayton Valley Lithium Project in Nevada, USA. Cypress is in the pilot stage of testing on material from its lithium-bearing claystone deposit and progressing towards completing a Feasibility Study and permitting, with the goal of becoming a domestic producer of lithium for the growing electric vehicle and battery storage market.
ON BEHALF OF CYPRESS DEVELOPMENT CORP. WILLIAM WILLOUGHBY, PhD., PE President & Chief Executive Officer
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
Cautionary Note Regarding Forward-Looking Statements This release includes certain statements that may be deemed to be “forward-looking statements”. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “expects,” “estimates,” “projects,” “anticipates,” “believes,” “could,” “scheduled,” and other similar words. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management 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 or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration, and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
Gold is among the first assets that come to mind when investors look to hedge against inflation. The U.S. and other nations are now experiencing the highest levels of inflation in forty years. As consumer prices continue to increase, gold, in all of its investible forms, has been trading down or sideways at best. Will its value pick up and catch up, or has it lost its shine as an inflation hedge?
Up is Down
In any market, the economic inputs impacting prices are many. One overriding factor that has been keeping gold prices at bay is inflation expectations. That’s right; it sounds counter-intuitive, but up is now down, and down is now up in the markets as investors look several steps out to determine their expectations. In this case, the steps follow this path:
Even during the weeks when the Federal Reserve’s monetary policy making board, the FOMC, meets and is universally expected to raise interest rates, longer rates on the treasury curve trade lower, not up. The markets are being very forward-looking and are more concerned with recession than inflation. I suspect this confounds the Fed’s efforts to slow growth and price pressures via rate increases that are being undermined by recession fears.
Gold is not seeing investors increasing their allocation of bullion, gold certificates, ETFs, gold mining companies, or any other assets linked to the price of gold, in large part because markets view the Fed as on a path to wipe out the economy and inflation. This was apparent last week as so-called meme stock AMC Theaters (AMC) shared a positive event related to their gold holdings, the stock traded down.
Dollar Strength
Outside of the U.S., expectations for a deep or deeper recession are growing. This week the German central bank (Bundesbank) said “There are mounting signs of a recession in the German economy in the sense of a clear broad-based and prolonged decline in economic output. This drives investment in the stronger U.S. economy.
In addition to viewing inflation as a reason for rates to be brought down, global unrest and the U.S. central bank being perceived as tightening the most aggressively among trading partners has brought consistent strength to the U.S. dollar. When the performance of dollars and gold are viewed side by side, it hasn’t made sense to exchange the U.S. currency for gold. So in effect, gold which is often viewed as a currency is not competing well with greenbacks.
Take Away
Inflation has been rising. And not just in supply chain-related industries, in services as well. The Federal Reserve’s resolve to bring it down by increasing rates in the U.S. is attracting capital from overseas which has been keeping the dollar strong and as a perceived better alternatve to gold.
While gold prices are historically a beneficiary of higher inflation growth, the expectation that the Fed may quickly overshoot and cause a recession which could halt the run-away prices is winning the price tug-of-war with gold buyer enthusiasm.
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, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
U.S. Department of Energy grant application. Comstock filed a grant application with the U.S. Department of Energy (DOE) to build a pre-pilot scale system to demonstrate one of its methods to produce renewable diesel, sustainable aviation fuel, gasoline, and marine fuel from woody biomass utilizing Comstock’s technology and processes leading to greater yield, efficiency, and cost relative to other methods.
An impressive roster of grant participants. Comstock’s grant application is supported by an impressive roster of collaborators, including Marathon Petroleum Company LP, Topsoe Inc., Novozymes, Xylome Corporation, RenFuel K2B AB, Emerging Fuels Technology Inc., the University of Nevada, Reno, the University of Minnesota Duluth’s Natural Resources Research Institute, and the State University of New York College of Environmental Science and Forestry.
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.
VIRGINIA CITY, Nev., Sept. 15, 2022 (GLOBE NEWSWIRE) — Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”) today announced its filing of a grant application with the U.S. Department of Energy (“DOE”) to build a pre-pilot scale system to demonstrate one of Comstock’s unique new pathways to produce renewable diesel, sustainable aviation fuel, gasoline, and marine fuel from forestry residues and other forms of lignocellulosic biomass at dramatically improved yield, efficiency and cost in comparison to known methods.
Comstock has developed a breakthrough process that efficiently deconstructs woody biomass and residuals into uniquely isolated biointermediates that are free of the contaminants that have frustrated prior attempts at broadly commercializing cellulosic fuels. Comstock’s biointermediates include Cellulosic Sugar produced from a purified form of cellulose that has been stripped of bioconversion inhibitors, and a unique mixture of hydrocarbons that Comstock calls Bioleum.
Cellulosic Sugar can be used as a fermentation feedstock to produce ethanol, lipids, and many other products. Bioleum is a form of biocrude with about 75% of the energy content of fossil crude. While Comstock’s biointermediates can be used in multiple renewable fuel pathways, Comstock’s grant application is based on fermenting Cellulosic Sugar into lipids, reacting the lipids with Bioleum to produce a single homogenous feedstock, and converting that homogeneous feedstock into drop-in renewable fuels, at yields exceeding 80 gallons per dry ton of feedstock (on a gasoline gallon equivalent basis).
Comstock’s grant application is supported by a team of collaborators, including Topsoe Inc., Marathon Petroleum Company LP, Novozymes, Xylome Corporation, RenFuel K2B AB, Emerging Fuels Technology Inc., the University of Nevada Reno, the University of Minnesota Duluth’s Natural Resources Research Institute, and the State University of New York College of Environmental Science and Forestry.
“We are grateful for the opportunity to collaborate with such an exceptional team of industry leaders,” said Corrado De Gasperis, Comstock’s executive chairman and chief executive officer. “The combined team enables an extremely valuable ecosystem for advancing a highly scalable and rapidly replenishable new feedstock source for renewable fuels. This ecosystem is capable of making material contributions to neutralizing U.S. mobility emissions and delivering net-zero emissions by 2050.”
About Comstock Inc. 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 complementary process solutions and related services, and by licensing selected technologies to qualified strategic partners. To learn more, please visit www.comstock.inc.
Forward-Looking Statements This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future industry market conditions; future explorations or acquisitions; future changes in our exploration activities; future prices and sales of, and demand for, our products; land entitlements and uses; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land sales; investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives, including the nature, timing and accounting for restructuring charges, derivative assets and liabilities and the impact thereof; contingencies; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings, limitations on sales or offering of equity or debt securities, including asset sales and associated costs; and future working capital, costs, revenues, business opportunities, debt levels, cash flows, margins, taxes, earnings and growth. These statements are based on assumptions and assessments made by our management considering their experience and their perception of historical and current trends, current conditions, possible future developments, and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments, and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: adverse effects of climate changes or natural disasters; adverse effects of global or regional pandemic disease spread or other crises; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, mercury remediation and lithium, nickel and cobalt recycling, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration or mercury remediation, metal recycling, processing or mining activities; costs, hazards and uncertainties associated with precious metal based activities, including environmentally friendly and economically enhancing clean mining and processing technologies, precious metal exploration, resource development, economic feasibility assessment and cash generating mineral production; costs, hazards and uncertainties associated with mercury remediation, metal recycling, processing or mining activities; contests over our title to properties; potential dilution to our stockholders from our stock issuances, recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting our businesses; permitting constraints or delays; ability to achieve the benefits of business opportunities that may be presented to, or pursued by, us, including those involving battery technology, mercury remediation technology and efficacy, quantum computing and advanced materials development, and development of cellulosic technology in bio-fuels and related carbon-based material production; ability to successfully identify, finance, complete and integrate acquisitions, joint ventures, strategic alliances, business combinations, asset sales, and investments that we may be party to in the future; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, lithium, nickel, cobalt, cyanide, water, diesel, gasoline and alternative fuels and electricity); changes in generally accepted accounting principles; adverse effects of war, mass shooting, terrorism and geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the Securities and Exchange Commission; potential inability to list our securities on any securities exchange or market or maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.
Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund, or any other issuer.
Newrange is focused on district-scale exploration for precious metals in the prolific Red Lake District of northwestern Ontario. The past-producing high-grade Argosy Gold Mine is open to depth, while the adjacent North Birch Project offers additional blue-sky potential. Focused on developing shareholder value through exploration and development of key projects, the Company is committed to building sustainable value for all stakeholders. Further information can be found on our website at www.newrangegold.com .
Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
New flagship project. Newrange signed a non-binding Letter of Intent (LOI) with Great Panther Mining Limited (NYSE American, GPL) to acquire a 100% interest in the past-producing Coricancha mine in central Peru. Management expects to sign a definitive agreement shortly. Coricancha is a high-grade, narrow-vein, gold-silver-copper-lead-zinc underground mine in the Central Polymetallic Belt of Peru. It is 90 kilometers east of Lima and includes a 600-tonne per day processing plant, dry-stack tailings storage facility and requisite surface and underground infrastructure.
Acquisition terms. Newrange has agreed to make a single cash payment of US$750,000 to Great Panther upon closing and the transaction will be on an “as-is” basis. Shareholder approval is not required. Because the acquisition is subject to financing, Newrange is considering a “one new for six old” share consolidation and subsequent name change to be effective upon closing. Closing is subject to certain conditions, including the completion of a definitive agreement, financing by Newrange, and receipt of all necessary third-party approvals.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
AMC Diversified into Mining Last Winter – The Prospects Look Good
They should make a movie about the CEO of AMC Theaters, Adam Aron. But they ought to wait because it seems his story and that of AMC Theaters ($AMC) have a few more plot twists left. Yesterday AMC Shareholders struck gold. That is, the 22% of a gold mining operation in Nevada that AMC purchased in March returned extremely positive results as to the amount and quality of the yellow metal found in recent tests.
Let’s Rewind
In mid-March of this year AMC Theaters, coupled with Natural Resources Guru Eric Sprott, had taken a large stake in a gold and silver mining company. The company, Hycroft Mining Holdings ($HYMC), has a 71,000-acre gold mine in Northern Nevada. AMC’s stake was 22%. It invested $27.9 million in cash in Hycroft in exchange for 23.4 million warrant units, with each unit consisting of one common share of Hycroft and one common share purchase warrant. The units were priced at $1.193 a share, while each purchase warrant was priced at about $1.07 and carried a five-year term. HYMC had been trading in the $0.30 to $0.33 range when the deal was executed, as of September 14, the mining company was trading for $0.84 per share. AMC also was granted the right to appoint someone to Hycroft’s board.
Eric Sprott’s investment was made through a holding company for Sprott, not the alternative investment manager owned by Mr. Sprott, Sprott Inc. The holding company will make an equal investment in Hycroft with the same terms. Together, AMC and Sprott invested $56 million in the mining company.
So Far, So Good
The large stake taken by a completely unrelated business was ridiculed by many. One Seeking Alpha author called it a “Horror Story.” But the run-up in AMC’s stock from the short-squeeze in 2021 and its foresight to set aside capital for growth and diversification may have been smart. As of yesterday, the 22% stake in the uncorrelated business (Leisure vs Natural Resources) makes the CEO presiding over the popular meme-stock look like a hero.
According to a press release from Hycroft Mining, initial drill results from the test they conducted in different areas of the the property more than confirmed their expectations.
Alex Davidson, Vice President, Exploration at Hycroft commented, “These initial drill results confirm the higher-grade opportunities identified in the 2021 drill program. While we have only just begun investigating the planned targets of our 2022-23 drill program, these results are very encouraging and further confirm the importance of additional drilling to explore the untapped potential of the Hycroft deposit. Importantly, we are observing the high-grade zones are more continuous than previously interpreted in addition to seeing silver and gold grades significantly higher than the average grade at the Hycroft deposit.”
Adam Aron tweeted dramatically yesterday after the results were made public, exclaiming, “Eureka, In Hycroft’s early efforts, the biggest exploration program there in a decade, they found it! There’s MORE gold in them thar hills. And MORE silver. And it’s MUCH higher grade than previously known at the site. To my critics in the cheap seats: #AFeast of CrowStewForYou.
Take Away
The AMC story, so far this decade, is full of so many plot twists and unexpected events that it confounds even the most veteran market watchers.
High-level research and analysis for many natural resource producers is regularly posted on Channelchek, along with information on stocks within the leisure sector. Watch for continued updates on this story by signing up for Channelchek emails.
TORONTO–(BUSINESS WIRE)– Sierra Metals Inc. (TSX: SMT) (BVL or Bolsa de Valores de Lima: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”) regrets to report that at approximately 4:00 PM Lima Time on Sunday September 11, 2022, there was a mudslide incident at its underground Yauricocha Mine, located in Peru.
As a result, three contractor employees lost their lives and one was injured.
The safety and wellbeing of all employees and contractors is a major commitment and focus of the Company, and all efforts are being deployed to ensure them. Mining operations have been temporarily suspended as a result and will resume once conditions are considered safe and appropriate.
Local authorities have been notified and are conducting an investigation into the incident. The Company will provide any updates as they become available.
The thoughts of the board of directors and management are with the family, friends and colleagues that have been impacted by this unfortunate incident.
About Sierra Metals
Sierra Metals Inc. is a diversified Canadian mining company with Green Metal exposure including increasing copper production and base metal production with precious metals byproduct credits, focused on the production and development of its Yauricocha Mine in Peru, and Bolivar and Cusi Mines in Mexico. The Company is focused on increasing production volume and growing mineral resources. Sierra Metals has recently had several new key discoveries and still has many more exciting brownfield exploration opportunities at all three Mines in Peru and Mexico that are within close proximity to the existing mines. Additionally, the Company also has large land packages at all three mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential.
The Company’s Common Shares trade on the Bolsa de Valores de Lima and on the Toronto Stock Exchange under the symbol “SMT” and on the NYSE American Exchange under the symbol “SMTS”.
For further information regarding Sierra Metals, please visit www.sierrametals.com
This press release contains forward-looking information within the meaning of Canadian and United States securities legislation. Forward-looking information relates to future events or the anticipated performance of Sierra and reflect management’s expectations or beliefs regarding such future events and anticipated performance based on an assumed set of economic conditions and courses of action. In certain cases, statements that contain forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, or “will be taken”, “occur” or “be achieved” or the negative of these words or comparable terminology. By its very nature forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual performance of Sierra to be materially different from any anticipated performance expressed or implied by such forward-looking information.
Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the risks described under the heading “Risk Factors” in the Company’s annual information form dated March 16, 2022 for its fiscal year ended December 31, 2021 and other risks identified in the Company’s filings with Canadian securities regulators and the United States Securities and Exchange Commission, which filings are available at www.sedar.com and www.sec.gov, respectively.
The risk factors referred to above are not an exhaustive list of the factors that may affect any of the Company’s forward-looking information. Forward-looking information includes statements about the future and is inherently uncertain, and the Company’s actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company’s statements containing forward-looking information are based on the beliefs, expectations, and opinions of management on the date the statements are made, and the Company does not assume any obligation to update such forward-looking information if circumstances or management’s beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.
VANCOUVER, British Columbia, Sept. 12, 2022 (GLOBE NEWSWIRE) — Endeavour Silver Corp. (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR) is pleased to announce it has entered into an agreement to sell a 100% interest in Minera Oro Silver de Mexico, S.A. de C.V. (“MOS”), a wholly owned subsidiary of Endeavour to Grupo ROSGO, S.A. de C.V., (“Grupo ROSGO”). MOS holds the El Compas property and the lease on the La Plata processing plant in Zacatecas, Mexico. All references to dollars ($) in this news release are to United States dollars.
Pursuant to the agreement, Grupo ROSGO will pay Endeavour $5 million cash over five years with an initial payment of $250,000 on signing of the definitive agreement. Instalment payments of $500,000 will be made every six months other than the third payment, which will be $750,000. The payments are secured by a pledge of the shares of MOS.
Endeavour CEO, Dan Dickson commented, “We are pleased with the sale of El Compas to Grupo ROSGO as it streamlines our project portfolio and frees up management time to focus on advancing our extensive growth pipeline, including the Terronera project and Pitarrilla.”
About Endeavour Silver – Endeavour Silver Corp. is a mid-tier precious metals mining company that operates two high-grade underground silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision, pending financing and final permits and exploring its portfolio of exploration and development projects in Mexico, Chile and the United States to facilitate its goal of becoming a premier senior silver producer. Our philosophy of corporate social integrity creates value for all stakeholders.
This news release contains “forward-looking statements” within the meaning of the United States private securities litigation reform act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements regarding receipt of installment payments for the sale of El Compas, Endeavour’s anticipated performance in 2022, advancing its extensive growth pipeline, including Terronera and Pitarrilla, the timing and results of various activities and the impact of the COVID 19 pandemic on operations. The Company does not intend to and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law.
Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, production levels, performance or achievements of Endeavour and its operations to be materially different from those expressed or implied by such statements. Such factors include but are not limited to, failure to receive installment payments of the sale price, the ultimate impact of the COVID 19 pandemic on operations and results, changes in production and costs guidance, national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and Mexico; financial risks due to precious metals prices, operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining; the speculative nature of mineral exploration and development, risks in obtaining necessary licenses and permits, and challenges to the Company’s title to properties; as well as those factors described in the section “risk factors” contained in the Company’s most recent Form 40F/Annual Information Form filed with the United States Securities and Exchange Commission and available at www.sec.gov, and Canadian securities regulatory authorities and available at www.sedar.com.
Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the continued operation of the Company’s mining operations, no material adverse change in the market price of commodities, mining operations will operate and the mining products will be completed in accordance with management’s expectations and achieve their stated production outcomes, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.
Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Recent drill results. Labrador Gold released results from recent drilling associated with its 100,000-meter drill program at its 100%-owned Kingsway gold project targeting the Appleton Fault Zone over a 12-kilometer strike length.A total of 52,648 meters have been drilled to date with assays pending for samples from approximately 3,343 meters of core. The company has four drill rigs operating, including two at the Big Vein target, one rig at the Golden Glove target, and one at the CSAMT target. Till sampling and prospecting continues to generate new drill targets along the Appleton Fault Zone and the gabbro trend north and south of Midway. Drilling on these targets will commence once initial drilling at the CSAMT target is complete.
Big Vein results continue to impress. At the Big Vein target, Hole K-22-177 returned 2.02 grams of gold per tonne over 32 meters from 134 meters depth that included 18.08 grams of gold per tonne over 0.63 meters and 11.42 grams of gold per tonne over 1.05 meters. It represents the longest mineralized intersection on the property to date. Hole K-22-187 at Big Vein southwest intersected 12.84 grams of gold per tonne over 0.8 meters from 341 meters depth.
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.
Making EVs Without China’s Supply Chain is Hard, But Not Impossible – 3 Supply Chain Experts Outline a Strategy
Two electrifying moves in recent weeks have the potential to ignite electric vehicle demand in the United States. First, Congress passed the Inflation Reduction Act, expanding federal tax rebates for EV purchases. Then California approved rules to ban the sale of new gasoline-powered cars by 2035.
The Inflation Reduction Act extends the Obama-era EV tax credit of up to US$7,500. But it includes some high hurdles. Its country-of-origin rules require that EVs – and an increasing percentage of their components and critical minerals – be sourced from the U.S. or countries that have free-trade agreements with the U.S. The law expressly forbids tax credits for vehicles with any components or critical minerals sourced from a “foreign entity of concern,” such as China or Russia. That’s not so simple when China controls 60% of the world’s lithium mining, 77% of battery cell capacity and 60% of battery component manufacturing. Many American EV makers, including Tesla, rely heavily on battery materials from China.
This article was republished with permission from The Conversation, a news site dedicated to sharing ideas from academic experts. It was written by and represents the research-based opinions of Ho-Yin Mak, Associate Professor in Operations & Information Management, Georgetown University – Christopher S. Tang, Professor of Supply Chain Management, University of California, Los Angeles – Tinglong Dai, Professor of Operations Management & Business Analytics, Carey Business School, Johns Hopkins University.
The U.S. needs a national strategy to build an EV ecosystem if it hopes to catch up. As experts in supply chain management, we have some ideas.
Why the EV Industry Depends Heavily on China
How did the U.S. fall so far behind?
Back in 2009, the Obama administration pledged $2.4 billion to support the country’s fledgling EV industry. But demand grew slowly, and battery manufacturers such as A123 Systems and Ener1 failed to scale up their production. Both succumbed to financial pressure and were acquired by Chinese and Russian investors.
China took the lead in the EV market through an aggressive mix of carrots and sticks. Its consumer subsidies raised demand at home, and Beijing and other major cities set licensing quotas mandating a minimum share of EV sales.
China also established a world-dominating battery supply chain by securing overseas mineral supplies and heavily subsidizing its battery manufacturers.
Today, the U.S. domestic EV supply chain is far from adequate to meet its goals. The new U.S. tax credits are designed to help turn that around, but building a resilient EV supply chain will inevitably entail competing with China for limited resources.
A comprehensive national strategy entails measures for the short, medium and long term.
Short-Term: What Can be Done Now?
Six of the 10 best-selling EV models in 2022 are already assembled in the U.S., fulfilling the Inflation Reduction Act’s final assembly location clause. The Hyundai-Kia alliance, which has three of the other four bestsellers, plans to open an EV assembly line in Georgia. Volkswagen has also started assembling its ID.4 electric SUV in Tennessee.
The challenge is batteries. Besides the Tesla-Panasonic factories in Nevada and planned in Kansas, U.S.-based battery manufacturers trail their Chinese counterparts in both size and growth.
For the U.S. to scale up its own production, it needs to rely on strategic partners overseas. The Inflation Reduction Act allows imports of critical minerals from countries with free trade agreements to still qualify for incentives, but not imports of battery components. This means overseas suppliers like Korea’s “Big Three” – LG Chem, SK Innovation and Samsung SDI – which supply 26% of the world’s EV batteries, are shut out, even though the U.S. and Korea have a free trade agreement.
The bulk of the world’s cobalt is mined in the Democratic Republic of Congo but processed and turned into lithium-ion battery components by Chinese companies. This chart shows the pathways from mining to EVs.
The Korea Automobile Manufacturers Association has asked Congress to make an exception for Korean-made EVs and batteries.
In the spirit of “friend-shoring,” the Biden administration could think of a temporary waiver as a stopgap measure that makes it easier for Korean battery makers to move more of their supply chain to the U.S., such as LG’s planned battery plants in partnerships with GM and Honda.
The 2021 Infrastructure Act also provided $5 billion to expand charging infrastructure, which surveys show is critical to bolstering demand.
Medium-Term: Diversifying Lithium and Cobalt Supplies
A strong and concerted effort in trade and diplomacy is necessary for the U.S. to secure critical mineral supplies.
As EV sales rise, the world is expected to face a lithium shortage by 2025. In addition to lithium, cobalt is needed for high-performance battery chemistries.
The problem? The Democratic Republic of the Congo is where 70% of the world’s cobalt is mined, and Chinese companies control 80% of that. The distant second-largest producer is Russia.
The Biden administration’s “friend-shoring” vision has a chance only if it can diversify the lithium and cobalt supply chains.
Lithium, cobalt and nickel are critical components in many EV batteries. The largest 2021 production sources included the Democratic Republic of Congo for cobalt; Australia, Chile and China for lithium; and Indonesia, the Philippines and Russia for nickel.
The “Lithium Triangle” of South America is one region to invest in. Also, Australia, a key U.S. ally, leads the world in lithium production and possesses rich cobalt deposits. Waste from many of Australia’s copper mines also contains cobalt, lowering the cost. GM has reached an agreement with the Australian mining giant Glencore to mine and process cobalt in Western Australia for its Ohio battery plant with LG Chem, bypassing China.
A way to avoid cobalt altogether also exists: lithium-iron-phosphate batteries are about 30% cheaper to make because they use minerals that are easy to find and plentiful. However, LFP batteries are heavier and have less power and range per unit.
For years, Chinese companies like CATL and BYD were the only ones making LFP batteries. But the patent rights associated with LFP batteries expire this year, opening up an important opportunity for the U.S.
Since not everyone needs a high-end electric supercar, affordable EVs powered by LFP batteries are an option. In fact, Tesla now offers Model 3s with LFP batteries that can travel about 270 miles on a charge.
The 2021 Bipartisan Infrastructure Law set aside $3.16 billion to support domestic battery supply chains. With the Inflation Reduction Act’s emphasis on supporting more affordable EVs – it has price caps for vehicles to qualify for incentives – these funds will be needed to help scale up domestic LFP manufacturing.
Long-Term: US Critical Mineral Production
Replacing overseas critical materials with domestic mining falls under long-term planning.
The scale of current domestic mining is minuscule, and new mining operations can take seven to 10 years to establish because of the lengthy permitting process. Lithium deposits exist in California, Maine, Nevada and North Carolina, and there are cobalt resources in Minnesota and Idaho.
Finally, to build an industrial commons for EVs, the U.S. must continue to invest in research and development of new battery technologies.
Pools of brine containing lithium carbonate stretch across a lithium mine in the Atacama Desert of Chile. Local opposition can be a challenge to mining proposals. Nuno Luciano (Flickr)
Also, end-of-life battery recycling is essential to the sustainability of EVs. The industry has been kicking the can down the road on this, as recycling demand has been minuscule thus far given the longevity of batteries. Yet, as a proactive step, the Inflation Reduction Act specifically permits battery content recycled in North America to qualify for the critical mineral clause.
To make this happen, the federal and state governments could use takeback legislation similar to producer responsibility laws for electronic waste enacted in more than 20 states, which stipulate that producers bear the responsibility for collecting, transporting and recycling end-of-cycle electronic products.
What’s Ahead
With the new law, the Biden administration has set its sights on a future transportation system that is built in the U.S. and runs on electricity. But there are supply chain obstacles, and the U.S. will need both incentives and regulations to make it happen.
California’s announcement will help. Under the Clean Air Act, California has a waiver that allows it to set policies more strict than federal law. Other states can choose to follow California’s policies. Seventeen other states have adopted California’s emissions standards. At least three, New York, Washington and Massachusetts, have already announced plans to also phase out new gas-powered cars and light trucks by 2035.
Alliance Resource Partners, L.P. 2021 Schedule K-3 Now Available
Company Release – 9/8/2022 3:30 PM ET
TULSA, Okla.–(BUSINESS WIRE)– Alliance Resource Partners, L.P. (NASDAQ “ARLP”) today announced that its 2021 Schedule K-3 reflecting items of international tax relevance is available online. Unitholders requiring this information may access their Schedule K-3 at www.taxpackagesupport.com/arlp.
A limited number of unitholders (primarily foreign unitholders, unitholders computing a foreign tax credit on their tax return and certain corporate and/or partnership unitholders) may need the detailed information disclosed on Schedule K-3 for their specific reporting requirements. To the extent Schedule K-3 is applicable to your federal income tax return filing needs, we encourage you to review the information contained on this form and refer to the appropriate federal laws and guidance or consult with your tax advisor.
To receive an electronic copy of your Schedule K-3 via email, unitholders may call Tax Package Support toll free at (800) 485-6875.
About Alliance Resource Partners, L.P.
ARLP is a diversified energy company that is currently the largest coal producer in the eastern United States. 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 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.
News, unit prices and additional information about ARLP, including filings with the Securities and Exchange Commission (“SEC”), are available at http://www.arlp.com. For more information, contact the investor relations department of ARLP at (918) 295-7674 or via e-mail at investorrelations@arlp.com.
Brian L. Cantrell Alliance Resource Partners, L.P. (918) 295-7673
Hole K-22-177 intersected 2.02 g/t Au over 32 metres including 18.08 g/t Au over 0.63 metres and 11.42 g/t Au over 1.05 metres.
Mineralization at Big Vein remains open along strike to the southwest and northeast.
Drilling also intersected high-grade mineralization at Big Vein southwest grading 12.84 g/t Au over 0.8 metres.
TORONTO, Sept. 08, 2022 (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 prospective Appleton Fault Zone over a 12km strike length. The drilling is part of the Company’s ongoing 100,000 metre diamond drilling program at its 100% owned Kingsway Project.
Highlights of the drilling include an intersection of 2.02 g/t Au over 32 metres from 134 metres that included 18.08 g/t Au over 0.63 metres and 11.42 g/t Au over 1.05 metres in Hole K-22-177 from the north end of Big Vein. The intersection is approximately 75 metres north of the discovery outcrop. In addition, Hole K-22-187 at Big Vein southwest intersected 12.84 g/t Au over 0.8 metres from 341 metres.
The last results from initial drilling at Midway showed an intersection of 5.69 g/t Au over 1.33 metres in Hole K-22-171. Further drilling is planned at Midway to test the continuity of gabbro-hosted mineralization along strike towards Cracker.
“Drilling at Big Vein continues to deliver excellent results with the longest mineralized intersection of 32 metres grading 2.02 g/t gold drilled on the property to date. We are currently testing this intersection down dip. The intersection is approximately 30 metres north of another long intercept of 6.07 g/t Au over 19m in hole K-21-111.” said Roger Moss, President and CEO. “Big Vein has now been drilled over a strike length of approximately 520 metres and remains open both to the northeast and southwest. Two rigs continue drilling at Big Vein to test for extensions of the mineralization in both directions.”
Hole ID
From (m)
To (m)
Interval (m)
Au (g/t)
Zone
K-22-187
157.80
158.25
1.20
1.08
Big Vein SW
328.55
328.85
0.30
3.27
341.00
341.80
0.80
12.84
K-22-184
140.26
140.59
0.33
2.89
Big Vein SW
336.25
337.89
1.64
2.69
K-22-180
nsv
CSAMT
K-22-179
72.00
72.76
0.76
1.08
Golden Glove
K-22-178
nsv
Big Vein SW
K-22-177
8.00
9.00
1.00
1.01
Big Vein
93.74
94.55
0.81
1.11
134.00
166.00
32.00
2.02
including
142.77
143.40
0.63
18.08
and
158.95
160.00
1.05
11.42
212.00
215.00
3.00
2.63
245.00
248.00
3.00
3.60
265.00
266.00
1.00
1.73
K-22-176
nsv
Golden Glove
K-22-175
63.00
65.00
2.00
1.48
Big Vein
230.00
232.00
2.00
2.87
K-22-174
296.00
297.49
1.49
3.65
Big Vein SW
407.00
407.30
0.30
3.24
K-22-173
11.00
12.00
1.00
1.04
Big Vein
16.00
17.00
1.00
1.38
50.00
51.00
1.00
2.23
K-22-172
nsv
CSAMT
K-22-171
194.50
198.00
3.50
1.44
Midway
201.17
202.50
1.33
5.69
K-22-170
11.00
12.00
1.00
1.10
HTC
35.00
44.00
9.00
1.42
218.00
219.00
1.00
1.01
K-22-169
nsv
Golden Glove
K-22-168
165.91
166.21
0.30
1.01
Midway
217.90
218.40
0.50
1.82
K-22-167
57.00
62.00
5.00
1.90
Big Vein
K-22-166
nsv
Midway
K-22-165
243.00
244.00
1.00
1.05
Golden Glove
Table 1. Summary of assay results. All intersections are downhole length as there is insufficient Information to calculate true width.
A total of 52,648 metres have been drilled to date out of the planned 100,000 metre program. Assays are pending for samples from approximately 3,343 metres of core (11% of the total submitted).
Drilling at Kingsway continues with four drill rigs, two working at Big Vein, one at Golden Glove and one at the CSAMT target. Ongoing detailed till sampling and prospecting continues to generate new drill targets along the Appleton Fault Zone and the gabbro trend north and south of Midway. Drilling will begin on these targets once initial drilling at CSAMT is complete.
The Company has $23.6 million in cash and is well funded to carry out the remaining 47,000 metres of the planned drill program as well as further target generation on the property.
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.
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 $23.6 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 25 th 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.
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 .
