TULSA, Okla.–(BUSINESS WIRE)– Alliance Resource Partners, L.P. (NASDAQ: ARLP) today announced that the Board of Directors of ARLP’s general partner approved a cash distribution to its unitholders for the quarter ended December 31, 2024 (the “2024 Quarter”).
ARLP unitholders of record as of the close of trading on February 7, 2025 will receive a cash distribution for the 2024 Quarter of $0.70 per unit (an annualized rate of $2.80 per unit), payable on February 14, 2025. The announced distribution is consistent with the cash distributions of $0.70 per unit for the quarters ended December 31, 2023 and September 30, 2024.
As previously announced, ARLP will report financial results for the 2024 Quarter before the market opens on Monday, February 3, 2025 and Alliance management will discuss these results during a conference call beginning at 10:00 a.m. Eastern that same day.
To participate in the conference call, dial (877) 407-0784 and request to be connected to the Alliance Resource Partners, L.P. earnings conference call. International callers should dial (201) 689-8560 and request to be connected to the same call. Investors may also listen to the call via the “Investors” section of ARLP’s website at www.arlp.com.
An audio replay of the conference call will be available for approximately one week. To access the audio replay, dial U.S. Toll Free (844) 512-2921; International Toll (412) 317-6671 and request to be connected to replay using access code 13750955.
Concurrent with this announcement we are providing qualified notice to brokers and nominees that hold ARLP units on behalf of non-U.S. investors under Treasury Regulation Section 1.1446-4(b) and (d) and Treasury Regulation Section 1.1446(f)-4(c)(2)(iii). Brokers and nominees should treat one hundred percent (100%) of ARLP’s distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. In addition, brokers and nominees should treat one hundred percent (100%) of the distribution as being in excess of cumulative net income for purposes of determining the amount to withhold. Accordingly, ARLP’s distributions to non-U.S. investors are subject to federal income tax withholding at a rate equal to the highest applicable effective tax rate plus ten percent (10%). Nominees, and not ARLP, are treated as the withholding agents responsible for withholding on the distributions received by them on behalf of non-U.S. investors.
About Alliance Resource Partners, L.P.
ARLP is a diversified energy company that is currently the second largest coal producer in the eastern United States, supplying reliable, affordable energy domestically and internationally to major utilities, metallurgical and industrial users. ARLP also generates operating and royalty income from mineral interests it owns in strategic coal and oil & gas producing regions in the United States. In addition, ARLP is evolving and positioning itself as a reliable energy partner for the future by pursuing opportunities that support the advancement of energy and related infrastructure.
News, unit prices and additional information about ARLP, including filings with the Securities and Exchange Commission (“SEC”), are available at www.arlp.com. For more information, contact the investor relations department of ARLP at (918) 295-7673 or via e-mail at investorrelations@arlp.com.
Investor Relations Contact
Cary P. Marshall Senior Vice President and Chief Financial Officer 918-295-7673 investorrelations@arlp.com
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.
Phase I Drilling at Douay. Maple Gold Mines commenced a Phase I diamond drilling program at the Douay Gold project that is expected to last three to four months. The company’s drilling program will entail a minimum of 10,000 meters of diamond drilling, with ~70% dedicated to de-risking and expanding the Douay mineral resource and 30% for testing new regional geological and geophysical targets. At the Douay gold project, the goal is to expand and upgrade the current three-million-ounce gold resource to five million ounces. The first phase will target shallow portions of the Douay system at a vertical depth of less than 500 meters, while the second phase will test vertical depths greater than 500 meters.
Drilling at Joutel is planned in 2H 2025. An additional 3,000 meters of diamond drilling is planned at Joutel in the second half of 2025 to extend the known high-grade gold mineralization along the past-producing Eagle-Telbel mine trend.
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Vancouver, British Columbia–(Newsfile Corp. – January 22, 2025) – Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) (“Maple Gold” or the “Company“) is pleased to provide an exploration update and 2025 outlook for its 100%-owned Douay Gold Project (“Douay“) and Joutel Gold Project (“Joutel“) (together, “Douay/Joutel” or the “Property“) located along the Casa Berardi-Douay Gold Trend in Québec, Canada (see Figures 1 and 2).
A 10,000-metre (“m“) Phase I diamond drilling program (the “Program“) has now commenced at Douay with an expected duration of three to four months. The location of the Douay mineralized zones and primary targets are shown in Figures 3 and 4. Key objectives of the Program include:
Targeting poorly drilled areas within Inferred Resources for conversion to Indicated Resources within the pit-constrained and underground resource domains;
Step-out drilling along strike, down-dip, and down-plunge to expand Inferred Resources
Step-out drilling from zones of high-grade gold mineralization within the underground Inferred Resources to demonstrate lateral and vertical continuity;
Targeting areas between modeled mineralized zones with geological continuity; and
Testing new targets developed during the compilation exercise of geological, geochemical and geophysical data.
Concurrent development initiatives are anticipated throughout 2025 to advance and de-risk the Douay deposit, including a review of the current Douay mineral resource estimate (“MRE“) and an evaluation of potential scenarios to optimize higher grade mineral resources that could be accessible via underground mining methods. An additional 3,000 m of diamond drilling is planned at Joutel in H2 2025 to extend the known high-grade gold mineralization along the past-producing Eagle-Telbel mine trend.
“We are excited to be drilling again at Douay with refocused attention on the higher-grade core of the deposit and its possible extensions both within and beyond our current drill pattern up to 500 m vertical depth,” stated Kiran Patankar, President and CEO. “Maple Gold’s technical team has accomplished a monumental task in compiling over 50 years of exploration data to generate new geological/structural/geochemical 3D models that have vastly improved our drill targeting. This work highlights the excellent exploration potential of Douay/Joutel, the importance of its location along the deep-seated Casa Berardi break, and the opportunity for the Property to host multiple gold deposits within a variety of geological settings. Our focus in 2025 will be executing a comprehensive exploration and development program that is aimed at delivering shareholder value through the drill bit and via project de-risking, while maintaining strict cost discipline across the Company.”
A total exploration budget of approximately $6.3 million has been established for 2025, including permitting, drilling, assaying, personnel, camp and site support costs. The 2025 work program will be fully funded from Maple Gold’s existing treasury.
Program Details
The Company is currently planning a minimum of 10,000 m of diamond drilling at Douay in 2025. Phase I drilling has now commenced with an expected duration of approximately three to four months (see Figures 3 and 4). The breakdown of the drilling metreage will be approximately: 70% dedicated to de-risking and expanding the Douay MRE through strategic infill and step-out holes (along strike and at depth); and 30% for the testing of new regional geological and geophysical targets along strike from the Douay MRE and north into the Taibi Group sediments along favourable structural breaks and lithologic contacts. The Company plans to complete infill drilling throughout the Douay MRE to convert Inferred Resources to Indicated Resources, potentially add new Inferred Resources within poorly drilled 100-200 m gaps between modeled mineral domains and target the down-plunge extensions of higher-grade zones outside the Douay MRE.
The Company plans to utilize all available data from its year-long data compilation exercise to initially target the shallow portions of the Douay mineralizing system (<500 m vertical depth) to fully understand the geometry of the known zones and outline key plunge directions (Phase I on Figure 4) before systematically stepping down-plunge and at depth (>500 m vertical depth) during a proposed second drilling phase (Phase II on Figure 4). This will allow the Company to control exploration risk and maximize exploration success.
The initial focus of Phase I drilling will be on the central portions of the Douay MRE targeting higher grade areas within the Porphyry Zone (comprised of West/Central/East portions), which is hosted within the Douay Intrusive Complex and includes some of the highest-grade assays returned on the Property (up to 2,888 grams/tonne (“g/t”) of gold (“Au”) over 0.5 m in historical drill hole DO-05-04). Other targets include: the 531 Zone which is hosted within mafic volcanic and folded interflow sedimentary rocks and includes one of highest-grade gold intersections reported by the Company in drill hole DO-21-310 which returned 8.8 g/t Au over 28.5 m, including 12.7 g/t Au over 10.0 m and 31.1 g/t Au over 0.5 m (see Company news release dated September 9, 2021); and the Main Zone which lies along the northern edge of the Douay Deformation Zone (“DDZ“) with gold mineralization hosted along the sheared graphitic contact between the Taibi Group volcaniclastic and sedimentary rocks to the north and Cartwright Hills Group mafic volcanic rocks to the south. Taibi Group sediments represent a promising new target area for the Company with the potential for sediment-hosted gold deposits along a major lithotectonic boundary similar to the Casa Berardi and Canadian Malartic deposits.
Douay/Joutel Exploration Update
Since the completion of its last drilling campaign in Spring 2023, the Company has focused on streamlining onsite operations, standardizing procedures, enhancing efficiencies, centralizing data management, optimizing workflow, and reducing overhead site costs. This effort has led to increased productivity from a revamped technical team that has reviewed historical drill core, compiled and digitized data, distinguished new geological and structural controls on gold mineralization, and developed vectors for targeting gold mineralization in the next phases of drilling.
Key tasks completed by the Maple Gold technical team include: re-logging of historical diamond drill core (>20,000 m); re-interpretation and preparation of drill hole cross-sections and level plans for all mineralized zones; updating and creating new robust 3D geological and structural models in Leapfrog software; updating of the Property-wide drill hole and geochemical databases with previously unincorporated historical data; layering of geological, structural, geochemical and geophysical data sets to generate new targets; and use of expert geochemical consultants to process multi-element assay data to identify potential pathfinder elements and ‘hot’ spots.
Key findings from the year-long data review and compilation exercise include:
The Casa Berardi Deformation Zone (the “CBDZ“) widens around Douay/Joutel resulting in complex zones along the DDZ of brittle and ductile deformation, subsidiary splays, NNE cross-faulting, and potential dextral rotation around the Douay Intrusive Complex resulting in Delta-type pressure shadows and possible structural traps for gold (see Figure 2).
A variety of host domains and rock types are favourable for gold mineralization including the Douay Alkaline Intrusion, Taibi Group sediments (including iron formations), Cartwright Hills Group basalts (including Fe-Rich tholeiitic komatiites), Temiskaming-style conglomerates, and structural breaks associated with major lithotectonic (volcanic-sedimentary) contacts.
Multiple styles and generations of mineralization are present at Douay/Joutel including Intrusion-Related Gold Systems (“IRGS“), multi-phase breccias, late orogenic gold, and synvolcanic-exhalative gold (Eagle-Telbel).
Gold mineralization is commonly associated with broad zones of albitization, Fe-carbonatization, silicification, hematization, fenitization, biotitization, and pyritization and alteration can be used as a key vector for gold mineralization.
The twelve (12) main mineralized zones all display a strong plunge geometry to the higher-grade gold mineralization, which varies from shallow to steep, and from southeast to southwest, possibly related to an earlier folding event. There also appears be a periodicity to the mineralized zones within the DDZ spaced 500 m to 1,000 m apart (see Figure 3).
There has been very limited drilling below 500 m vertical depth in comparison to other gold deposits in the Abitibi (East Gouldie/Odyssey, LaRonde) (see Figure 4).
Planned Douay Development Initiatives
The Company plans to review the current Douay MRE for the Project which currently contains both pit-constrained and underground Inferred and Indicated mineral resources to optimize higher grade resources that could be accessible via an underground mining scenario. Initial focus would include the Douay West zone which currently hosts Indicated mineral resources totaling 4.2 million tonnes (“Mt“) grading 2.13 g/t Au (containing 286,000 ounces of Au) and Inferred mineral resources totaling 3.7 Mt grading 1.39 g/t Au (containing 169,000 ounces of Au)1. Douay West also includes existing surface infrastructure constructed in 1995 including a headframe and mine hoist.
Figure 1: Location of the Douay/Joutel (Eagle-Telbel) Property in the Abitibi Sub-Province, Québec
Figure 4: Composite longitudinal section showing location of Douay Mineralized Zones and 2025 Target Areas (in red) (note: comparison to other deposits for reference purposes only)
2024 Exploration Work Completed at Joutel and Morris VMS Project
In Q2 2024, the Company completed a 525 line-km airborne drone-magnetic geophysical survey over a detailed grid on the western portion of the Joutel gold project to assist in the development of new drill targets along the western strike extent of the Eagle-Telbel stratigraphy.
In Q3 2024, the Company completed a lithogeochemical sampling program over its Morris volcanogenic massive sulphide (“VMS“) project, located 29 km east of Matagami, Québec. The program focused on the felsic volcanic rocks of the key Watson Lake formation which is present on the Morris project and is known to host the major VMS deposits within the Matagami mining camp. The Summer 2024 sampling program highlighted several areas of highly altered rhyolite, and the Company is developing plans for follow-up work in 2025.
Qualified Person
Ian Cunningham-Dunlop, P.Eng., Vice President, Technical Services of Maple Gold and a qualified person (“QP“) as defined by Canadian National Instrument 43-101, has reviewed and approved the scientific and technical information related to exploration and Mineral Resource matters contained in this news release.
About the Douay/Joutel Gold Project
The Douay/Joutel Gold Project is located adjacent to Highway 109 in the heart of the Abitibi greenstone belt, Canada’s premier gold mining jurisdiction (see Figure 1). This large, 100%-owned land package includes the multi-million ounce2 Douay Gold Project and the past-producing, high-grade Joutel Gold Mine Complex3. The Property contains ~400 km2 of highly prospective geology (see Figure 2) within the influence of the major gold-bearing CDBZ. Gold mines in the immediate region include the Casa Berardi Gold Mine operated by Hecla Mining Company and the Detour Lake Gold Mine operated by Agnico Eagle Mines Ltd. (see Figure 1).
About Maple Gold
Maple Gold Mines Ltd. is a Canadian advanced exploration company focused on advancing its 100%-owned, district-scale Douay and Joutel gold projects located in Québec’s prolific Abitibi Greenstone Gold Belt. The Douay/Joutel projects benefit from exceptional infrastructure access and boast ~400 km2 of highly prospective ground including an established gold mineral resource at Douay with significant expansion potential as well as the past-producing Telbel and Eagle West mines at Joutel. In addition, the Company holds an exclusive option to acquire 100% of the Eagle Mine Property, a key part of the historical Joutel Mining Complex.
Maple Gold’s property package also hosts a significant number of regional exploration targets along a 55-km strike length of the Casa Berardi Deformation Zone that have yet to be tested through drilling, making the property ripe for new gold and polymetallic discoveries. The Company is currently focused on carrying out exploration and drill programs to grow mineral resources and make new discoveries to establish an exciting new gold district in the heart of the Abitibi. For more information, please visit www.maplegoldmines.com.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.
Forward-Looking Statements and Cautionary Notes:
This news release contains “forward-looking information” and “forward-looking statements” (collectively referred to as “forward-looking statements”) within the meaning of applicable Canadian securities legislation in Canada. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “aims,” “potential,” “goal,” “objective,”, “strategy”, “prospective,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur, or are those statements, which, by their nature, refer to future events. Forward-looking statements in this news release include, but are not limited to, statements about the resource expansion and discovery potential across the Company’s gold projects, and its intention to pursue such potential, and the Company’s exploration work and results from current and future work programs. Although the Company believes that forward-looking statements in this news release are reasonable, it can give no assurance that such expectations will prove to be correct, as forward-looking statements are based on assumptions, uncertainties and management’s best estimate of future events on the date the statements are made and involve a number of risks and uncertainties. Consequently, actual events or results could differ materially from the Company’s expectations and projections, and readers are cautioned not to place undue reliance on forward-looking statements. For a more detailed discussion of additional risks and other factors that could cause actual results to differ materially from those expressed or implied by forward-looking statements in this news release, please refer to the Company’s filings with Canadian securities regulators available on the System for Electronic Document Analysis and Retrieval Plus (SEDAR+) at www.sedarplus.ca or the Company’s website at www.maplegoldmines.com. Except to the extent required by applicable securities laws and/or the policies of the TSX Venture Exchange, the Company undertakes no obligation to, and expressly disclaims any intention to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
________________________ 1 For additional details, see the technical report for the Douay gold project entitled “Technical Report on the Douay and Joutel Projects Northwestern Québec, Canada Report for NI 43-101” prepared by SLR Consulting (Canada) Ltd. with an effective date of March 17, 2022, and dated April 29, 2022. 2 The Douay Project contains Indicated Mineral Resources estimated at 10 million tonnes at a grade of 1.59 g/t Au (containing 511,000 ounces of gold), and Inferred Mineral Resources estimated at 76.7 million tonnes at a grade of 1.02 g/t Au (containing 2,527,000 ounces of gold). See the technical report for the Douay Gold Project entitled “Technical Report on the Douay and Joutel Projects Northwestern Québec, Canada Report for NI 43-101″ prepared by SLR Consulting (Canada) Ltd. with an effective date of March 17, 2022, and dated April 29, 2022. 3 The Eagle, Eagle West and Telbel Gold Mines at Joutel were in production from 1974 to 1993 and produced 1.1 million ounces of gold at an average grade of 6.5 g/t Au (Agnico Eagle Mines Ltd. website)
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.
Hans Baldau, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Agreement with Hexas Biomass. Comstock Fuels executed an agreement with Hexas Biomass Inc. to acquire an exclusive worldwide license to Hexas’ intellectual properties in liquid fuels applications, subject to certain pre-existing agreements and relationships. Moreover, Hexas will provide development services in connection with Comstock Fuels’ site development and innovation activities. Comstock Fuels will invest $500,000 in Hexas to be paid in four tranches on January 15, January 31, February 28, and March 31, 2025.
High yield energy crops. Hexas has developed a portfolio of proprietary intellectual properties supporting the propagation, production, harvesting, and processing of purpose-grown energy crops with yields exceeding 25 to 30 dry metric tons per acre per year, or about 4 to 7 times the yields of traditional forestry species.
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.
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.
Paving the way for an off-take agreement. Century Lithium recently executed a non-binding memorandum of understanding (MOU) to formalize a multi-year off-take agreement with Orica Specialty Chemicals to purchase sodium hydroxide from Century Lithium’s wholly owned Angel Island project. Orica is a leading mining and infrastructure solutions provider, the largest producer of sodium cyanide, and a supplier of specialty mining chemicals to Nevada’s mining industry.
Initial term of five years. The contemplated off-take agreement will have an initial term of five years and a right of first offer for an additional five years. It would account for a large portion of the surplus sodium hydroxide produced during the early years of the Angel Island project’s operation. A definitive agreement will contain pricing terms.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Comstock (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.
Special meeting of stockholders. Comstock will host a virtual special meeting of stockholders on February 14 at 9:00 a.m. PT. Stockholders of record, as of January 2, are asked to vote to authorize a reverse stock split of the company’s issued and outstanding common stock at a ratio ranging from one-for-five to one-for-twenty, with the timing and ratio to be determined by the Board. There will be no reduction or change to Comstock’s 245,000,000 authorized share count. The primary goal of the reverse split is to increase the number of shares available for issuance should the company need to raise additional capital.
Convertible promissory note financing. Comstock recently executed a 6.0% convertible promissory note agreement with a principal amount of $10,638,298 to Kips Bay Select, LP. The note is due on April 10, 2026. On the initial closing date, Kips Bay will fund $5,000,000 which will result in an aggregate principal amount of $5,319,149, including the original issue discount. Following and contingent on the reverse split, Comstock could receive additional funding of $5,000,000 in a second tranche, likely next month, on the same terms. Kips Bay could also receive restricted shares equal to 2% of the principal amount of the convertible note and registered shares equal to 3% of the principal amount.
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.
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.
Private placement financing. In December, Aurania closed the second and final tranche of its private placement financing. A total of 3,747,243 units were sold at C$0.45 per unit for gross proceeds of C$1,686,259.35. Each unit is comprised of one common share and one common share purchase warrant, which entitles the holder to purchase one common share at an exercise price of C$0.75 for a period of 24 months following the closing date of the applicable tranche of the offering. Aurania expects to allocate most of the net proceeds to fund exploration activities in France.
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.
Toronto, Ontario–(Newsfile Corp. – December 23, 2024) – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) (“Aurania” or the “Company”) announces that it has closed the second and final tranche (the “Second Tranche“) of its non-brokered private placement financing (the “Offering“) as previously announced on November 25, 2024, and December 13, 2024. An aggregate of 3,747,243 units (the “Units“) were sold under the Offering at a price of C$0.45 per Unit (the “Issue Price“) for aggregate gross proceeds of C$1,686,259.35.
Under the Second Tranche, 1,020,744 Units were sold at the Issue Price for total gross proceeds of C$459,334. No fees were paid to finders in connection with the closing of the Second Tranche.
Each Unit is composed of one common share of the Company (a “Common Share“) and one Common Share purchase warrant (a “Warrant“). Each Warrant entitles the holder to purchase one Common Share (a “Warrant Share“) at an exercise price of C$0.75 per Warrant Share for a period of 24 months following the closing date of the applicable tranche of the Offering such Warrants were issued.
The Company plans to prioritize exploration in France and intends to allocate the majority of the net proceeds raised from the Offering primarily to exploration activities there, including impact studies, as well as to general working capital purposes. The Company may also conduct exploration programs in Ecuador depending on the capital requirements of the Company’s exploration activities.
The Company also completed its previously announced debt settlement transaction, as announced on November 25, 2024 (the “Debt Settlement“). Pursuant to the Debt Settlement, the Company issued an aggregate of 3,868,036 Common Shares to Dr. Keith Barron, the CEO and a director of the Company, in settlement of C$1,652,168.75 of loans plus interest thereon for an aggregate amount of C$1,740,616.36 owed to him (the “Debt“) by the Company, at a price of C$0.45 per Common Share. The Debt related to a promissory note of the Company in respect of a loan previously supplied by Dr. Barron for the purpose of providing cash resources to the Company. The Company had elected to settle the indebtedness through the issuance of Common Shares to preserve cash and strengthen Aurania’s balance sheet.
The Offering and the Debt Settlement are subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSXV and the securities regulatory authorities. All securities issued and issuable in connection with the Offering and the Debt Settlement are subject to a hold period of four months plus one day from the date of issuance.
Dr. Barron acquired 3,868,036 Common Shares pursuant to the Debt Settlement constitutes a “related party transaction” as defined under the policies of the TSXV and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). The Company is relying on exemptions from the minority shareholder approval and formal valuation requirements applicable to the related party transactions under sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101, as the fair market value of the participation in the Debt Settlement does not exceed 25 percent of the Company’s market capitalization.
The securities described herein have not been, and will not be, registered under the United States Securities Act, or any state securities laws, and accordingly may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.
About Aurania
Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition, and exploration of mineral property interests, with a focus on precious metals and copper in South America. Its flagship asset, The Lost Cities – Cutucu Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains forward-looking information as such term is defined in applicable securities laws, which relate to future events or future performance and reflect management’s current expectations and assumptions. The forward-looking information includes statements regarding the Offering, the anticipated use of the net proceeds from the Offering, the receipt of all necessary approvals, including the approval of the TSXV, Aurania’s objectives, goals or future plans, statements, exploration results, potential mineralization, the corporation’s portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration, timing of the commencement of operations, and estimates of market conditions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to Aurania, including the assumption that, there will be no material adverse change in metal prices, all necessary consents, licenses, permits and approvals will be obtained, including various local government licenses and the market. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. Risk factors that could cause actual results to differ materially from the results expressed or implied by the forward-looking information include, among other things, a failure to obtain or delays in obtaining the required regulatory licenses, permits, approvals and consents, an inability to access financing as needed, a general economic downturn, a volatile stock price, labour strikes, political unrest, changes in the mining regulatory regime governing Aurania, a failure to comply with environmental regulations and a weakening of market and industry reliance on precious metals and copper. Aurania cautions the reader that the above list of risk factors is not exhaustive.
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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.
Reassessing the path to commercialization. We are lowering our investment rating to a Market Perform from Outperform. While Comstock has made significant progress advancing its business unit plans, we think the path toward commercializing its Fuels and Metals businesses could take longer than we previously expected and is subject to a number of risk factors, including execution and financing. Based on the company’s liquidity, anticipated capital requirements, risk and reward profile, and lead time associated with commercializing its businesses, we think a Market Perform is appropriate.
SBC Commerce transaction. In August, Comstock announced a significant and promising transaction with SBC Commerce LLC (SBCC), a U.S. based private equity group, to directly invest in each of Comstock’s businesses and acquire Comstock’s properties in Silver Springs, Nevada. Our previous valuation and price target were based in part on the implied value of the transaction. To date, no definitive agreement has been announced with SBC Commerce, and it is unclear to us whether the transaction will close as contemplated. We look forward to an update and will wait to assess any final agreement(s).
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.
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.
Private placement financing. Aurania announced the closing of the first tranche of its recently announced private placement of up to 8,888,888 units at a price of C$0.45 per unit to raise gross proceeds of up to C$4,000,000. In the first tranche, a total of 2,726,499 units were sold for gross proceeds of C$1,226,924.55. Each unit is comprised of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at an exercise price of C$0.75 for a period of 24 months following the closing of the first tranche. The net proceeds will be used to fund exploration in France including impact studies, exploration programs at key targets in Ecuador, and working capital.
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.
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.
NobleCon20 presentation. During Noble’s recent NobleCon20 Annual Emerging Growth Equity Conference, Mr. Kiran Patankar, Maple Gold’s CEO, provided some additional details regarding the company’s upcoming exploration and drilling program. A link to Maple Gold’s NobleCon20 presentation is here. Recall that Maple Gold has a 400 square kilometer district-scale property in Quebec’s Abitibi Greenstone Gold Belt, including gold mineral resources of approximately three million ounces at Douay with significant expansion potential and the past producing Telbel and Eagle West mines at Joutel.
Upcoming drilling program. Maple Gold’s fully funded drilling program is expected to commence shortly and run through March. The company is using a data-driven approach toward exploration that is focused on expanding the company’s gold mineral resource from approximately three million ounces to five million ounces across the combined Douay/Joutel projects, along with making new discoveries. An updated resource estimate and scoping study is expected to be completed within the next 12 to 18 months.
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.
TULSA, Okla.–(BUSINESS WIRE)– Alliance Resource Partners, L.P. (NASDAQ: ARLP) (“ARLP” or the “Partnership”) today announced that the Partnership will attend the following investor conferences:
Bank of America 2024 Leveraged Finance Conference, December 3, 2024; and
Noble Capital Markets 20 th Annual Emerging Growth Equity Conference, December 4, 2024.
The Partnership will post an investor presentation ahead of the events in the “Investors” section of ARLP’s website at www.arlp.com under “Events & Presentations.”
About Alliance Resource Partners, L.P.
ARLP is a diversified energy company that is currently the largest coal producer in the eastern United States, supplying reliable, affordable energy domestically and internationally to major utilities, metallurgical and industrial users. ARLP also generates operating and royalty income from mineral interests it owns in strategic coal and oil & gas producing regions in the United States. In addition, ARLP is evolving and positioning itself as a reliable energy partner for the future by pursuing opportunities that support the advancement of energy and related infrastructure.
News, unit prices and additional information about ARLP, including filings with the Securities and Exchange Commission (“SEC”), are available at www.arlp.com. For more information, contact the investor relations department of ARLP at (918) 295-7673 or via e-mail at investorrelations@arlp.com.
Investor Relations Contact Cary P. Marshall Senior Vice President and Chief Financial Officer 918-295-7673 investorrelations@arlp.com
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.
Adjusting estimates. While our 2024 and 2025 estimates are unchanged, we have increased our 2026 through 2030 EBITDA and EPU estimates to reflect higher year-over-year growth in oil and gas royalty volumes of 12.5% compared to our previous estimate of 2.0% which we think is too conservative based on the partnership’s record. Our commodity price deck is unchanged. We have assumed an average of $75 million per year in oil and gas reserve acquisitions in 2026 through 2030. Based on our higher forward estimates and a modest 100-basis point reduction in our discount rate to 9.5%, we have increased our price target to $33 per share from $28.
Hail to the incoming chief. We expect industries associated with the fossil fuels to benefit from the upcoming change in U.S. Presidential administrations. It is our belief that the Trump Administration may seek to roll back the EPA’s carbon emissions rule which could extend the life of existing coal-fired power plants. Moreover, we think the business climate could improve based on a move toward market-based energy policies and a reduction in regulatory burden.
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.
