Tag: Natural Resources

Release – Maple Gold Reports Final Assays from First Phase of Deep Drilling at Douay and Provides Corporate Updates

Posted on by aweinsoff@channelchek.com

Research News and Market Data on MGMLF

Vancouver, British Columbia–(Newsfile Corp. – August 3, 2023) – Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) (“Maple Gold” or the “Company“) is pleased to report complete gold assay results from the first phase of deep drilling at the Douay Gold Project (“Douay”) located in Québec, Canada, which is held by a 50/50 joint venture (the “JV”) between the Company and Agnico Eagle Mines Limited. The Company is also pleased to announce the appointment of Jocelyn (Josh) Pelletier, M.Sc., P.geo. as its Chief Geologist. Mr. Pelletier is both a structural geologist and a specialist in metallogeny who brings more than 20 years of progressive exploration experience primarily focused on the formation of gold deposits and porphyry copper-gold systems. The Company also announces that Joness Lang and Fred Speidel have left the Company to pursue other opportunities.

At Douay, the JV completed a total of 5,793 metres (“m”) in three new holes and two extension holes during the first half of 2023. Four drill holes were designed as deep conceptual exploration holes to test for mineralization extensions at greater depths (up to ~1,600 m vertical depth) beneath Douay’s currently defined Mineral Resources, and the fifth drill hole was a shallower step-out hole to the east of the NW Zone (see Figure 1 for a plan view map depicting drill hole locations and key results, Figure 2 for a composite longitudinal section and Table 1 for a detailed summary of assay results). This first phase of widely spaced (from ~500 m to ~3,000 m between holes) deep drilling returned 10 separate intercepts >2.5 gold grams per tonne (“g/t Au”) and four broad intervals (from ~59 to ~221 m in length) of low-grade (mostly >0.1 g/t Au) gold mineralization, demonstrating that a deep-rooted gold system is present to the current limits of drilling. Pending multi-element assays from the first phase of deep drilling will be incorporated into ongoing vectoring efforts to develop follow up targets to continue testing the depth potential at Douay from successful proof-of-concept towards potentially economic gold intercepts in undrilled zones over more than six kilometers of strike length.

Highlighted Results and Key Takeaways:

  • All five drill holes intersected gold mineralization >1 g/t Au, with 10 intercepts >2.5 g/t Au and several broad (from ~59 m to ~221 m in length) low-grade intervals (averaging 0.1 to 0.3 g/t Au), demonstrating continuity of the gold system down to at least ~1,600 m vertical depth.
  • DO-23-332 and DO-23-326X both tested beneath the Porphyry Zone and returned the most compelling visual core observations with broad intervals of alteration and elevated fine grained pyrite mineralization. Such broad low-grade haloes, with multiple >1 g/t Au intercepts, are typical of the more peripheral parts of the Porphyry Zone.
  • DO-23-332 intersected 10 distinct intercepts of >1 g/t Au over at least 1.0 m. A broad (121 m) mineralized envelope with anomalous gold (0.31 g/t Au average) included intercepts of 3.6 g/t Au over 1 m, and 1.2 g/t Au over 10 m, including 3.3 g/t Au over 2 m. Additional 4.9 and 2.5 g/t Au intercepts over 1 m were obtained further up hole.
  • DO-23-326X returned eight intercepts grading >1 g/t Au over at least 1 m. Furthermore, this hole did not appear to intersect the full width of the potential zone and, importantly, bottomed in mineralization (see cross section in Figure 3). Visible gold was also identified at 1,826 m down-hole.
  • DO-23-331 was collared ~500 m south of the 531 Zone conceptual pit and returned 2.85 g/t Au over 1.6 m, including 6.2 g/t Au over 0.7 m, with a broader interval of 0.25 g/t Au over 50.8 m further up-hole.

“This deep drilling program was developed to test the potential for a much larger gold system at Douay while also demonstrating continuity of mineralization beneath currently defined Mineral Resources,” stated Matthew Hornor, President and CEO of Maple Gold. “The average vertical depth of all previous drilling at Douay is roughly 300 m, with limited data below 500 m, so this first pass of deeper drilling was discovery-focused with the aim of bringing us one step closer to uncovering a new zone at depth. The program was successful from a proof-of-concept standpoint in demonstrating mineralization continuity up to four times deeper than Douay’s currently defined Mineral Resources. Given what we’ve encountered in the JV’s first deep drill holes, the Company remains highly encouraged and confident that our detailed interpretation and vectoring work will lead to promising follow-up targets to incorporate into future drill campaigns at Douay. To support these ongoing initiatives, I am delighted to welcome Josh Pelletier as the Company’s new Chief Geologist and believe that his strong structural geology and metallogeny background will help unlock value at our strategically located and district-scale project portfolio within Quebec’s Abitibi greenstone belt.”

Technical Observations, Key Takeaways and Next Steps

The JV’s first phase deep drilling program delivered several key geological findings related to the potential depth continuity of gold mineralization at Douay:

  • From top-to-bottom (~2,000 m vertical depth), gold mineralization appears to be spatially associated with a porphyry-style intrusive complex and also appears in quartz-carbonate veins associated with shearing in the Casa Berardi Deformation Zone (“CBDZ”) that may be related to a separate orogenic gold system along this E-W regional structure.
  • Gold mineralization was identified within the contact zone between the two main lithologic sequences (Cartwright Hills Grp. volcanic sequences and Taibi Grp. sedimentary rocks) located along the crustal-scale CBDZ North structural corridor.
  • There are key structural corridors that appear to crosscut the auriferous porphyry-style mineralization, which provides potential for gold remobilization and reconcentration.

At Douay, two types of gold mineralization have been recognized: 1) gold that is spatially associated with porphyritic intrusive phases and 2) gold that is spatially associated with shear zones in the CBDZ. Both styles of mineralization may have formed in different conditions and time frames. The porphyry-style gold displays similarities to low-grade gold zones formed in magmatic-hydrothermal systems, while the gold related to shear zones is similar to other orogenic gold deposits that represent the majority of gold mines in the Abitibi gold belt. Therefore, it is important to distinguish both mineralization events, and to define their spatial distributions and orientations. The JV will be completing additional metallogenic interpretations and analysis to generate optimal targeting at Douay for future drill testing.

Figure 1: Plan view showing completed 2023 drill traces at Douay. Note DO-23-332 was drilled to 1,453 m but appears shorter due to subvertical inclination.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3077/175913_d01a0405042a3b8a_001full.jpg

Figure 2: Composite long section showing completed 2023 deep holes at Douay and key assay results.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3077/175913_d01a0405042a3b8a_002full.jpg

Figure 3: Cross-section (100 m corridor width) showing the location of DO-23-326X, key intercepts and interpreted lithologic and structural elements.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3077/175913_d01a0405042a3b8a_003full.jpg

The next steps at Douay include:

  • Multi-element analysis to define geochemical zonation and possible tracers to gold mineralization in order to improve vectoring within the mineralized system.
  • Paragenesis of gold mineralization based on mineralogical studies of the alteration patterns, gold deposition phases and other hydrothermal events.
  • Structural controls study to better constrain the geometry of known zones and improve targeting of structural traps.
  • Lithological studies to distinguish the different intrusive phases and evaluate their relationship with gold mineralization.

The Company will continue its vectoring work to refine the next set of priority drill targets at Douay, including follow-up on the first phase of deep drilling, as well as revisiting areas where the JV previously had successes (e.g. 531 and Western Porphyry zones). The Company is concurrently refining targets along its 100%-controlled Eagle Mine Project and in the Telbel Mine area within the JV’s Joutel Gold Project in preparation for anticipated fall and winter drilling campaigns, which are expected to be announced in the coming weeks. The Company’s VMS-focused exploration work is also ongoing with the aim of defining new drill targets, which are anticipated to be tested in early 2024.

Table 1: Complete Assay Results from the First Phase of Deep Drilling at Douay

Hole UTMEUTMNAzimuthPlungeLength (m)FromToIntervalAu g/t
DO-23-324X704278549090032-66.57791385.61397.011.40.28
including     1389.01391.02.00.95
DO-23-324X     1455.31457.52.20.74
DO-23-324X     1560.01568.38.30.83
including     1561.01561.90.92.76
including     1561.01565.94.91.28
including     1564.01565.91.91.50
DO-22-3267064005491650172-5498Master hole – reported on 11/30/22
DO-23-326XW17064005491650176.92-501111869.0874.05.00.21
DO-23-326XW1  973.0974.01.03.55
DO-23-326XW1  1213.01214.01.04.85
DO-23-326XW1  1276.01277.01.00.62
DO-23-326XW1  1641.01642.01.00.58
DO-23-326XW1  1664.81885.9221.10.16
including     1670.01672.02.00.76
including     1695.01697.02.00.66
including     1706.01714.08.00.81
including     1711.01713.02.01.28
including     1739.01781.042.00.17
including     1790.01791.01.00.51
including     1826.01827.01.01.78
including     1833.31834.20.92.12
including     1850.51853.02.51.46
including     1852.01853.01.02.86
including     1861.01876.015.00.18
DO-23-326XW1  1945.41959.213.80.23
DO-23-3317064005491650172-5420441869.01870.01.01.04
DO-23-331     1901.01951.850.80.25
including     1901.01902.01.01.15
including     1925.41927.01.62.85
including     1925.41926.10.76.17
including     1950.31950.80.52.96
DO-23-3327068205489915340-79.51453135.0136.01.01.10
DO-23-332     498.7499.71.04.94
DO-23-332     653.7664.711.00.29
including     657.0659.02.00.74
DO-23-332     789.0809.020.00.18
including     805.0805.50.52.11
DO-23-332     845.2852.06.80.29
DO-23-332     864.2865.21.02.53
DO-23-332     953.0953.50.51.26
DO-23-332     991.01112.0121.00.31
including     1020.01021.01.03.61
including     1034.01044.010.01.16
including     1035.01037.02.03.31
including     1043.01044.01.01.01
including     1058.01059.01.01.25
including     1075.01077.02.01.12
including     1075.01076.01.01.49
including     1111.01112.01.01.07
DO-23-332     1205.01329.0124.00.13
including     1295.01297.02.00.61
DO-23-3337059505492140.3360-55297248.0252.84.80.69
including     251.3252.81.51.55

Note: All reported intercepts are downhole core lengths. Estimated true widths are unknown at this time due to the limited data at the depths drilled.

Corporate Updates

Maple Gold is pleased to announce the appointment of Jocelyn (Josh) Pelletier as the Company’s new Chief Geologist. Mr. Pelletier is a structural geologist and a specialist in metallogeny with over 20 years of exploration experience primarily focused on the formation of gold deposits and porphyry copper-gold systems. He holds an M.Sc. degree in geology (UQAM – Montreal), a BSc in management and is a Fellow of the SEG as a Professional Geologist (OGQ). Mr. Pelletier has significant experience exploring Canada’s greenstone belts, including the Abitibi, Timmins, Red Lake, Beardmore and Rankin Inlet. He will work closely with the Company’s geological team, highly experienced Technical Committee and the JV to support the next phase of drill targets across the Company’s project portfolio.

The Company also announces that Joness Lang and Fred Speidel have left the Company to pursue other opportunities. The Company wishes both Mr. Lang and Mr. Speidel every success in their future endeavors.

Option Issuance

The Company has approved the grant to an employee and officer of stock options (“Options”) to purchase an aggregate of 400,000 common shares of the Company at an exercise price of $0.17 per common share. The Options have a 5-year term and vest 1/3 immediately, 1/3 in 12 months and 1/3 in 24 months from the date of grant until fully vested.

Qualified Person

The scientific and technical data contained in this press release was reviewed and prepared under the supervision of Jocelyn Pelletier, M.Sc., P.geo., Chief Geologist of Maple Gold. Mr. Pelletier has verified the data related to the exploration information disclosed in this press release through his direct participation in the work performed. Mr. Pelletier is a Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

Quality Assurance (QA) and Quality Control (QC)

The Company implements strict Quality Assurance (“QA”) and Quality Control (“QC”) protocols at Douay and Telbel covering the planning and placing of drill holes in the field; drilling and retrieving the NQ-sized drill core; drill hole surveying; core transport; core logging by qualified personnel; sampling and bagging of core for analysis; transport of core from site to the Val d’Or, Québec ALS laboratory; sample preparation for assaying; and analysis, recording and final statistical vetting of results. Check assays for gold will be done on a sample subset at AGAT laboratory in Val d’Or. For a complete description of protocols, please visit the Company’s QA/QC webpage at www.maplegoldmines.com.

About Maple Gold

Maple Gold Mines Ltd. is a Canadian advanced exploration company in a 50/50 joint venture with Agnico Eagle Mines Limited to jointly advance the district-scale Douay and Joutel gold projects located in Québec’s prolific Abitibi Greenstone Gold Belt. The projects benefit from exceptional infrastructure access and boast ~400 km2 of highly prospective ground including an established gold resource at Douay (SLR 2022) that holds significant expansion potential as well as the past-producing Eagle, Telbel and Eagle West mines at Joutel. In addition, the Company holds an exclusive option to acquire 100% of the Eagle Mine Property.

The district-scale 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 project ripe for new gold and polymetallic discoveries. The Company is well capitalized and is currently focused on carrying out exploration and drill programs to grow 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.

ON BEHALF OF MAPLE GOLD MINES LTD.

“Matthew Hornor”

B. Matthew Hornor, President & CEO

For Further Information Please Contact:

Mr. Matthew Hornor
President, CEO & Director
Cell: 778.955.6133
Email: mhornor@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:

This press 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, including statements about exploration work and results from current and future work programs. Forward-looking statements are based on assumptions, uncertainties and management’s best estimate of future events. Actual events or results could differ materially from the Company’s expectations and projections. Investors are cautioned that forward-looking statements involve risks and uncertainties. Accordingly, readers should not place undue reliance on forward-looking statements. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Maple Gold Mines Ltd.’s filings with Canadian securities regulators available on www.sedar.com or the Company’s website at www.maplegoldmines.com. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

Alliance Resource Partners (ARLP) – In-Line Second Quarter; Lowering Near-Term Estimates

Posted on by cpereira@noblefcm.com


Wednesday, August 02, 2023

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.

Second quarter financial results. Alliance reported second quarter EBITDA and earnings per unit (EPU) of $249.2 million and $1.30, respectively, compared to $246.9 million and $1.23 during the prior year period. EPU was in line with our estimate and was modestly ahead of the consensus. We had forecast EBITDA and EPU of $254.4 million and $1.30. Revenue increased 3.5% to $641.8 million, while income from operations increased 3.7% to $183.9 million. The company generated free cash flow of $153.5 million compared to $81.3 million during the prior year period and distributable cash flow provided quarterly cash distribution coverage of 1.9x.

Refined management guidance. Alliance provided updated guidance for the remainder of the year which we have incorporated into our estimates as detailed in the body of this note. Total coal sales are expected to be in the range of 35.5 million to 36.0 million tons compared to previous expectations of 36.0 million to 38.0 million tons, while the coal sales price per ton is expected to be in the range of $65 to $66 compared to previous guidance of $65 to $67. Alliance also guided to lower depreciation, depletion, and amortization, general and administrative, and income tax expense.


Get the Full Report

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

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

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

Release – Defense Metals Engages Hatch Ltd. and SRK Consulting (Canada) Inc. for Wicheeda Rare Earth Element Project Preliminary Feasibility Study

Posted on by aweinsoff@channelchek.com

Research News and Market Data on DFMTF

VANCOUVER, BC, Aug. 1, 2023 /CNW/ – Defense Metals Corp. (“Defense Metals” or the “Company“; (TSXV: DEFN) (OTCQB: DFMTF) (FSE: 35D) is pleased to confirm that it has engaged Hatch Ltd. (“Hatch“) and SRK Consulting (Canada) Inc. (“SRK“) as principal consultants for the completion of a preliminary feasibility study (“PFS“) regarding its Wicheeda Rare Earth Element (REE) Project located near Prince George, Canada.

SRK is one of four key consultants chosen by Defense Metals to facilitate the PFS and will take the lead role as overall coordinator of the National Instrument 43-101 PFS report, as well as handling the mining and tailings scope of work with support from APEX Geoscience Ltd., Defense Metals’ exploration, geology, and resource consultants. Hatch will focus on rare earth element (“REE“) concentrating and hydrometallurgical processes and plant facilities, and both capital and operating costs. One-eighty Consulting Group Inc. (“One-eighty“) will be responsible for the environmental studies, permitting, and social or community impact scope.

Hatch and SRK, as directed by Defense Metals, have agreed to a partition of responsibilities that allows each group to focus on their strengths.

SRK is uniquely positioned to advance the Wicheeda Project given their prior involvement in both an extensive scenario analysis evaluation conducted in 2021 and the preliminary economic assessment (“PEA“) completed by them in 2021 and published in 2022. SRK will build upon the knowledge gained in these studies and improve upon the analyses completed then, to create an optimal development plan for the Wicheeda Project. SRK will focus on resource estimation, geotechnical engineering, mining engineering, tailings management, and economic analysis. Added scope for SRK in the PFS includes the project lead, risk assessment, surface water management, contact water treatment and environmental geochemistry.

Hatch will be responsible for the process design including the concentrator and hydrometallurgical plants as well as the infrastructure for mining, tailings, and other processing areas.

SRK and Hatch both have extensive experience and knowledge of working in the REE sector.

About Hatch Ltd.

Hatch is an employee-owned, multidisciplinary professional services firm that delivers a comprehensive array of technical and strategic services, including consulting, information technology, engineering, process development, and project and construction management to the Mining, Metallurgical, Energy, and Infrastructure sectors. Hatch has served clients for over six decades with corporate roots extending over 100 years and has project experience in more than 150 countries around the world. Find out more on www.hatch.com.

About SRK Consulting (Canada) Inc.

SRK Consulting is an independent, international group providing specialised consultancy services.

Among SRK’s clients are many of the world’s mining companies, exploration companies, financial institutions, EPCM and construction firms and government bodies. Formed in Johannesburg in 1974, the SRK Group now employs more than 1600 staff internationally in over 45 permanent offices in 20 countries on 6 continents. A broad range of internationally recognised associate consultants complements the core staff. SRK provides specialist consulting services in the areas of geology, resources and exploration, geotechnical services, mine waste management, environmental, water management and mining and project evaluation.

Qualified Person

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

About the Wicheeda REE Property

Defense Metals 100% owned, 6,759-hectare (~16,702-acre) Wicheeda Project is located approximately 80 km northeast of the city of Prince George, British Columbia; population 77,000. The Wicheeda REE Project is readily accessible by all-weather gravel roads and is near infrastructure, including hydro power transmission lines and gas pipelines. The nearby Canadian National Railway and major highways allow easy access to the port facilities at Prince Rupert, the closest major North American port to Asia.

The 2021 Wicheeda REE Project Preliminary Economic Assessment technical report outlined a robust after-tax net present value (NPV@8%) of $517 million and an 18% IRR1. This PEA contemplated an open pit mining operation with a 1.75:1 (waste:mill feed) strip ratio providing a 1.8 Mtpa (“million tonnes per year”) mill throughput producing an average of 25,423 tonnes REO annually over a 16 year mine life. A Phase 1 initial pit strip ratio of 0.63:1 (waste:mill feed) would yield rapid access to higher grade surface mineralization in year 1 and payback of $440 million initial capital within 5 years.

__________________________________________
1 Independent Preliminary Economic Assessment for the Wicheeda Rare Earth Element Project, British Columbia, Canada, dated January 6, 2022, with an effective date of November 7, 2021, and prepared by SRK Consulting (Canada) Inc. is filed under Defense Metals Corp.’s Issuer Profile on SEDAR (www.sedarplus.ca).

About Defense Metals Corp.

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

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

For further information, please contact:

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

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

Cautionary Statement Regarding “Forward-Looking” Information

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

SOURCE Defense Metals Corp.

LithiumBank Resources (LBNKF) – Sale of Saskatchewan Properties Keeps the Focus on Boardwalk and Park Place

Posted on by cpereira@noblefcm.com


Tuesday, August 01, 2023

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.

Sale of Saskatchewan properties. LithiumBank executed a definitive agreement to sell the company’s three lithium brine projects in Saskatchewan, Canada to Pristine Lithium Corp. The strategic sale is expected to expedite the development of the Saskatchewan properties while allowing LithiumBank to maintain a financial interest in the properties through an ownership interest in Pristine Lithium. LithiumBank is now positioned to focus on the development of Boardwalk and Park Place in the province of Alberta without having to dilute its resources by developing multiple projects in two jurisdictions.

Financial terms. LithiumBank will receive cash consideration of C$2,000,000, including a C$250,000 deposit and an additional C$1,750,000 payable upon closing. LithiumBank will receive 40 million common shares in the capital of Pristine Lithium, or buyer shares, representing roughly 47% of the outstanding buyer shares on a post-financing basis, along with 20 million warrants, each exercisable into one buyer share for a period of two years from the date of issuance. Upon filing a NI 43-101 compliant preliminary economic assessment technical report, Pristine will issue buyer shares or cash representing C$1,000,000 of consideration to LithiumBank.


Get the Full Report

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

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

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

Release – Alliance Resource Partners, L.P. Reports Increased Financial and Operating Results; Declares Quarterly Cash Distribution of $0.70 Per Unit; and Updates 2023 Guidance

Posted on by aweinsoff@channelchek.com

Research News and Market Data on ARLP

Company Release – 7/31/2023 7:00 AM ET

2023 Quarter Highlights

  • Revenue of $641.8 million, up 3.5% year-over-year
  • Net income of $169.8 million, or $1.30 per unit, a 3.8% increase compared to $163.5 million, or $1.23 per unit for the 2022 Quarter
  • EBITDA of $249.2 million, up 1.0% year-over-year
  • Repurchased $34.2 million of outstanding senior notes during the 2023 Quarter and redeemed an additional $50.0 million of senior notes in July 2023
  • Declared a quarterly cash distribution in July 2023 of $0.70 per unit, or $2.80 per unit annualized, up 75.0% year-over-year

TULSA, Okla.–(BUSINESS WIRE)– Alliance Resource Partners, L.P. (NASDAQ: ARLP) (“ARLP” or the “Partnership”) today reported increased financial and operating results for the quarter ended June 30, 2023 (the “2023 Quarter”) compared to the quarter ended June 30, 2022 (the “2022 Quarter”). Total revenues in the 2023 Quarter increased 3.5% to $641.8 million compared to $619.9 million for the 2022 Quarter driven primarily by higher coal sales price per ton, which rose by 5.7%, partially offset by lower oil & gas royalty prices. Increased revenues, partially offset by higher total operating expenses, led to net income for the 2023 Quarter of $169.8 million, or $1.30 per basic and diluted limited partner unit, compared to $163.5 million, or $1.23 per basic and diluted limited partner unit, for the 2022 Quarter. (Unless otherwise noted, all references in the text of this release to “net income” refer to “net income attributable to ARLP.”)

Compared to the quarter ended March 31, 2023 (the “Sequential Quarter”), total revenues in the 2023 Quarter decreased by 3.2% primarily as a result of lower average coal sales prices of $62.93 per ton sold compared to $68.34 per ton sold in the Sequential Quarter, partially offset by higher coal sales volumes, which rose 5.1% to 8.9 million tons sold in the 2023 Quarter. Lower revenues contributed to a reduction in net income and EBITDA of 11.2% and 8.0%, respectively, compared to the Sequential Quarter. (For a definition of EBITDA and related reconciliation to its comparable GAAP financial measure, please see the end of this release.)

Financial and operating results for the six months ended June 30, 2023 (the “2023 Period”) increased compared to the six months ended June 30, 2022 (the “2022 Period”). Coal sales prices and coal sales revenues during the 2023 Period were higher by 21.8% and 23.8%, respectively, compared to the 2022 Period. Increased revenues and lower income tax expense, partially offset by higher total operating expenses, in the 2023 Period drove net income higher by 79.0% and EBITDA increased 29.6%, both as compared to the 2022 Period.

CEO Commentary

“ARLP delivered solid results during the second quarter of 2023, keeping us on track to deliver record financial results this year,” commented Joseph W. Craft III, Chairman, President and Chief Executive Officer. “Continued strength in our contract book positioned our coal operations to achieve higher realized pricing per ton sold and Segment Adjusted EBITDA relative to the 2022 Quarter and the 2022 Period. Our year-to-date results have been impressive despite coal demand, both domestically and globally, being lower than we expected entering this year, due to slower economic growth, mild weather in our targeted markets, and lower natural gas prices.”

Mr. Craft added, “Recent reports of sustained, record heat in many parts of the U.S. should once again emphasize our nation’s critical need for a reliable, affordable, and diverse energy mix. Markets can turn quickly in response to moderate swings in demand, particularly when supply remains constrained and policy decisions impact reliability. Our operations continue to provide a low-cost, secure source of supply for our customers, and with our recent actions to further strengthen our balance sheet, we expect to do so well into the future.”

Coal Operations

ARLP’s coal sales prices per ton increased compared to the 2022 Quarter as improved domestic price realizations drove coal sales prices higher by 9.8% and 3.5% in the Illinois Basin and Appalachia, respectively. Compared to the Sequential Quarter, lower domestic and export prices led to a decrease of 24.1% in coal sales prices in Appalachia. Tons sold increased by 4.0% in the Illinois Basin compared to the 2022 Quarter due primarily to increased volumes from the Hamilton and Warrior mines. Appalachia coal sales volumes decreased by 8.5% compared to the 2022 Quarter as a result of reduced export sales across the region and lower production from our MC Mining operation. Compared to the Sequential Quarter, Illinois Basin coal sales volumes decreased 2.0% due to lower volumes from River View while coal sales volumes increased by 24.5% in Appalachia due to higher volumes from Tunnel Ridge as a result of longwall moves at the mine in the Sequential Quarter. ARLP ended the 2023 Quarter with total coal inventory of 1.8 million tons, representing an increase of 0.2 million tons and 0.5 million tons compared to the end of the 2022 and Sequential Quarters, respectively.

Segment Adjusted EBITDA Expense per ton increased by 6.0% in the Illinois Basin compared to the 2022 Quarter, resulting from higher labor-related expenses and maintenance costs as well as increased sales-related expenses due to higher price realizations. Segment Adjusted EBITDA Expense per ton in Appalachia increased by 11.1% compared to the 2022 Quarter, due primarily to increased labor-related expenses, purchased coal and higher inventory charges, partially offset by increased recoveries and lower selling expenses due to a greater mix of coal sales from operations in states with lower severance taxes per ton during the 2023 Quarter. Compared to the Sequential Quarter, Segment Adjusted EBITDA Expense per ton increased 5.8% in the Illinois Basin primarily due to reduced coal sales volumes from our lower cost Gibson South and River View mines during the 2023 Quarter. In Appalachia, Segment Adjusted EBITDA Expense per ton decreased 23.8% compared to the Sequential Quarter as a result of higher sales volumes from our lower cost Tunnel Ridge mine during the 2023 Quarter, increased recoveries across the region and longwall moves at Tunnel Ridge during the Sequential Quarter.

Royalties

Segment Adjusted EBITDA for the Oil & Gas Royalties segment decreased to $29.1 million in the 2023 Quarter compared to $37.6 million and $30.0 million in the 2022 and Sequential Quarters, respectively, primarily due to lower average sales prices per BOE, partially offset by higher BOE volumes sold. Higher BOE volumes during the 2023 Quarter compared to the 2022 Quarter resulted from increased drilling and completion activities on our interests and the acquisition of additional oil & gas mineral interests.

Segment Adjusted EBITDA for the Coal Royalties segment increased to $11.0 million for the 2023 Quarter compared to $9.1 million and $10.1 million for the 2022 and Sequential Quarters, respectively, as a result of higher average royalty rates per ton received from the Partnership’s mining subsidiaries.

Balance Sheet and Liquidity

During the 2023 Quarter, ARLP repurchased $34.2 million of its senior notes due May 1, 2025 and began principal payments on its term loan. In July 2023, ARLP redeemed an additional $50.0 million of its senior notes.

As of June 30, 2023, total debt and finance leases outstanding were $417.8 million, including $339.2 million in ARLP’s 2025 senior notes. The Partnership’s total and net leverage ratio was 0.40 times and 0.14 times, respectively, as of June 30, 2023. ARLP ended the 2023 Quarter with total liquidity of $717.2 million, which included $284.9 million of cash and cash equivalents and $432.3 million of borrowings available under its revolving credit and accounts receivable securitization facilities.

Distributions

As previously announced, on July 28, 2023, the Board of Directors of ARLP’s general partner (the “Board”) approved a cash distribution to unitholders for the 2023 Quarter of $0.70 per unit (an annualized rate of $2.80 per unit), payable on August 14, 2023, to all unitholders of record as of the close of trading on August 7, 2023. The announced distribution represents a 75.0% increase over the cash distribution of $0.40 per unit for the 2022 Quarter and is consistent with the Sequential Quarter cash distribution.

Outlook

“The recent heat wave has supported additional coal burn this summer for both the domestic and export markets. However, until Henry Hub natural gas prices rise above $3.00 per million Btu, we do not expect any meaningful gas-to-coal switching domestically. Therefore, we have chosen to reduce our coal production and sales volume guidance for 2023. Production targets have been reduced at our River View and Gibson operations in the Illinois Basin and at our Mettiki operation in Appalachia,” commented Mr. Craft. “Committed and priced sales tons currently represent 96% to 97% of our updated guidance range, and we plan to sell any remaining uncontracted tonnage primarily into international markets from these three mines. We have also adjusted the top end of our coal sales price per ton sold range downward based upon recent market analysis. On the positive side, we are lowering our cost estimates for the year as our team continues to find ways to reduce expenses in a stubbornly volatile inflationary environment.”

Mr. Craft added, “During the 2023 Quarter, we agreed to sell an additional 8.6 million tons with multiple customers for coal to be delivered over the 2024 to 2026 time period. We expect there will be more opportunities this year to fill out our future contract book.”

Mr. Craft closed, “These modest guidance revisions have not changed our view that we remain on track to achieve record financial results this year. As we look beyond 2023, we are encouraged by growth opportunities being pursued by our New Ventures group, the recent increase in the forward oil and gas price curves and acquisition prospects for our Oil & Gas Royalties segment. We are also seeing stability for coal demand over the next several years. Many of our coal customers are projecting significant growth in electricity demand as record numbers of new manufacturing facilities are being announced to come online over the next several years. All of these announced projects require exceptionally large electrical loads, adding to the reliability concerns of the stakeholders responsible for meeting the rising energy needs of their customers. The increased electricity demand should lead to slowing the pre-mature closing of coal-fired power plants in the eastern United States. We also expect the growth in LNG terminals coming online over the next five years will support higher domestic natural gas prices further supporting stable demand expectations for our coal operations over the next five to ten years.”

ARLP is providing the following updated guidance for the 2023 full year:

Conference Call

A conference call regarding ARLP’s 2023 Quarter financial results is scheduled for today at 10:00 a.m. Eastern. 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 “investor relations” 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 13739987.

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.

The statements and projections used throughout this release are based on current expectations. These statements and projections are forward-looking, and actual results may differ materially. These projections do not include the potential impact of any mergers, acquisitions or other business combinations that may occur after the date of this release. We have included more information below regarding business risks that could affect our results.

FORWARD-LOOKING STATEMENTS: With the exception of historical matters, any matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from projected results. Those forward-looking statements include expectations with respect to our future financial performance, coal and oil & gas consumption and expected future prices, our ability to increase unitholder distributions in future quarters, business plans and potential growth with respect to our energy and infrastructure transition investments, optimizing cash flows, reducing operating and capital expenditures, preserving liquidity and maintaining financial flexibility, and our future repurchases of units and senior notes, among others. These risks to our ability to achieve these outcomes include, but are not limited to, the following: decline in the coal industry’s share of electricity generation, including as a result of environmental concerns related to coal mining and combustion and the cost and perceived benefits of other sources of electricity and fuels, such as oil & gas, nuclear energy, and renewable fuels; changes in macroeconomic and market conditions and market volatility, and the impact of such changes and volatility on our financial position; changes in global economic and geo-political conditions or changes in industries in which our customers operate; changes in commodity prices, demand and availability which could affect our operating results and cash flows; the outcome or escalation of current hostilities in Ukraine; the severity, magnitude, and duration of any future pandemics and impacts of the pandemic and of businesses’ and governments’ responses to the pandemic on our operations and personnel, and on demand for coal, oil, and natural gas, the financial condition of our customers and suppliers, available liquidity and capital sources and broader economic disruptions; actions of the major oil-producing countries with respect to oil production volumes and prices could have direct and indirect impacts over the near and long term on oil & gas exploration and production operations at the properties in which we hold mineral interests; changes in competition in domestic and international coal markets and our ability to respond to such changes; potential shut-ins of production by operators of the properties in which we hold oil & gas mineral interests due to low commodity prices or the lack of downstream demand or storage capacity; risks associated with the expansion of our operations and properties; our ability to identify and complete acquisitions and to successfully integrate such acquisitions into our business and achieve the anticipated benefits therefrom; our ability to identify and invest in new energy and infrastructure transition ventures; the success of our development plans for our wholly owned subsidiary, Matrix Design Group, LLC, and our investments in emerging infrastructure and technology companies; dependence on significant customer contracts, including renewing existing contracts upon expiration; adjustments made in price, volume, or terms to existing coal supply agreements; the effects of and changes in trade, monetary and fiscal policies and laws; central bank policy actions, bank failures and associated liquidity risks; the effects of and changes in taxes or tariffs and other trade measures adopted by the United States and foreign governments; legislation, regulations, and court decisions and interpretations thereof, both domestic and foreign, including those relating to the environment and the release of greenhouse gases, mining, miner health and safety, hydraulic fracturing, and health care; deregulation of the electric utility industry or the effects of any adverse change in the coal industry, electric utility industry, or general economic conditions; investors’ and other stakeholders’ increasing attention to environmental, social, and governance matters; liquidity constraints, including those resulting from any future unavailability of financing; customer bankruptcies, cancellations or breaches to existing contracts, or other failures to perform; customer delays, failure to take coal under contracts or defaults in making payments; our productivity levels and margins earned on our coal sales; disruptions to oil & gas exploration and production operations at the properties in which we hold mineral interests; changes in equipment, raw material, service or labor costs or availability, including due to inflationary pressures; changes in our ability to recruit, hire and maintain labor; our ability to maintain satisfactory relations with our employees; increases in labor costs including costs of health insurance and taxes resulting from the Affordable Care Act, adverse changes in work rules, or cash payments or projections associated with workers’ compensation claims; increases in transportation costs and risk of transportation delays or interruptions; operational interruptions due to geologic, permitting, labor, weather, supply chain shortage of equipment or mine supplies, or other factors; risks associated with major mine-related accidents, mine fires, mine floods or other interruptions; results of litigation, including claims not yet asserted; foreign currency fluctuations that could adversely affect the competitiveness of our coal abroad; difficulty maintaining our surety bonds for mine reclamation as well as workers’ compensation and black lung benefits; difficulty in making accurate assumptions and projections regarding post-mine reclamation as well as pension, black lung benefits, and other post-retirement benefit liabilities; uncertainties in estimating and replacing our coal mineral reserves and resources; uncertainties in estimating and replacing our oil & gas reserves; uncertainties in the amount of oil & gas production due to the level of drilling and completion activity by the operators of our oil & gas properties; uncertainties in the future of the electric vehicle industry and the market for EV charging stations; the impact of current and potential changes to federal or state tax rules and regulations, including a loss or reduction of benefits from certain tax deductions and credits; difficulty obtaining commercial property insurance, and risks associated with our participation in the commercial insurance property program; evolving cybersecurity risks, such as those involving unauthorized access, denial-of-service attacks, malicious software, data privacy breaches by employees, insiders or others with authorized access, cyber or phishing-attacks, ransomware, malware, social engineering, physical breaches, or other actions; and difficulty in making accurate assumptions and projections regarding future revenues and costs associated with equity investments in companies we do not control.

Additional information concerning these, and other factors can be found in ARLP’s public periodic filings with the SEC, including ARLP’s Annual Report on Form 10-K for the year ended December 31, 2022, filed on February 24, 2023, and ARLP’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2023, filed on May 9, 2023. Except as required by applicable securities laws, ARLP does not intend to update its forward-looking statements.

Reconciliation of Non-GAAP Financial Measures

Reconciliation of GAAP “net income attributable to ARLP” to non-GAAP “EBITDA” and “Distributable Cash Flow” (in thousands).

EBITDA is defined as net income attributable to ARLP before net interest expense, income taxes and depreciation, depletion and amortization. Distributable cash flow (“DCF”) is defined as EBITDA excluding equity method investment earnings, interest expense (before capitalized interest), interest income, income taxes and estimated maintenance capital expenditures and adding distributions from equity method investments. Distribution coverage ratio (“DCR”) is defined as DCF divided by distributions paid to partners.

Management believes that the presentation of such additional financial measures provides useful information to investors regarding our performance and results of operations because these measures, when used in conjunction with related GAAP financial measures, (i) provide additional information about our core operating performance and ability to generate and distribute cash flow, (ii) provide investors with the financial analytical framework upon which management bases financial, operational, compensation and planning decisions and (iii) present measurements that investors, rating agencies and debt holders have indicated are useful in assessing us and our results of operations.

EBITDA, DCF and DCR should not be considered as alternatives to net income attributable to ARLP, net income, income from operations, cash flows from operating activities or any other measure of financial performance presented in accordance with GAAP. EBITDA and DCF are not intended to represent cash flow and do not represent the measure of cash available for distribution. Our method of computing EBITDA, DCF and DCR may not be the same method used to compute similar measures reported by other companies, or EBITDA, DCF and DCR may be computed differently by us in different contexts (i.e., public reporting versus computation under financing agreements).

Reconciliation of GAAP “Cash flows from operating activities” to non-GAAP “Free cash flow” (in thousands).

Free cash flow is defined as cash flows from operating activities less capital expenditures and the change in accounts payable and accrued liabilities from purchases of property plant and equipment. Free cash flow should not be considered as an alternative to cash flows from operating activities or any other measure of financial performance presented in accordance with GAAP. Our method of computing free cash flow may not be the same method used by other companies. Free cash flow is a supplemental liquidity measure used by our management to assess our ability to generate excess cash flow from our operations.

Reconciliation of GAAP “Operating Expenses” to non-GAAP “Segment Adjusted EBITDA Expense” and Reconciliation of non-GAAP ” EBITDA” to “Segment Adjusted EBITDA” (in thousands).

Segment Adjusted EBITDA Expense includes operating expenses, coal purchases, if applicable, and other income or expense. Transportation expenses are excluded as these expenses are passed on to our customers and, consequently, we do not realize any margin on transportation revenues. Segment Adjusted EBITDA Expense is used as a supplemental financial measure by our management to assess the operating performance of our segments. Segment Adjusted EBITDA Expense is a key component of EBITDA in addition to coal sales, royalty revenues and other revenues. The exclusion of corporate general and administrative expenses from Segment Adjusted EBITDA Expense allows management to focus solely on the evaluation of segment operating performance as it primarily relates to our operating expenses. Segment Adjusted EBITDA Expense – Coal Operations represents Segment Adjusted EBITDA Expense from our wholly-owned subsidiary, Alliance Coal, which holds our coal mining operations and related support activities.

Cary P. Marshall
Senior Vice President and Chief Financial Officer
918-295-7673
investorrelations@arlp.com

Source: Alliance Resource Partners, L.P.

Eskay Mining Corp. (ESKYF) – New Targets Increase the Potential for New Discoveries

Posted on by cpereira@noblefcm.com


Friday, July 28, 2023

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.

Drilling has commenced. Eskay Mining has commenced this year’s diamond drill program at its 100% controlled Consolidated Eskay Gold Project in the Golden Triangle of British Columbia. The company’s exploration program is focused on precious metal-rich volcanogenic massive sulfide (VMS) deposits. Eskay Mining intends to complete up to 6,500 meters of core drilling. Closing the sale of five mining claims to Skeena Resources provided additional funding for the program.

Targets to be tested. Targets to be tested include: 1) Maroon Cliffs, 2) Hexagon-Mercury, 3) Tarn Lake, 4) Scarlet Knob, 5) Bruce Glacier, 6) Storie Creek, 7) Cumberland, and 8) TV South. Eskay recently started diamond drilling at the Tarn Lake target. A second drill is currently being mobilized to the site. These targets have been discussed by the company previously except for perhaps Bruce Glacier and Storie Creek.


Get the Full Report

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

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

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

Release – Eskay Mining Identifies New Targets and Commences Drilling at Its Consolidated Eskay Project, Golden Triangle, BC

Posted on by aweinsoff@channelchek.com

Research News and Market Data on ESKYF

July 27, 2023

TORONTO, ON / ACCESSWIRE / July 27, 2023 / Eskay Mining Corp. (“Eskay” or the “Company”) (TSXV:ESK)(OTCQX:ESKYF)(Frankfurt:KN7) (WKN:A0YDPM) is pleased to announce it has identified new high priority drill targets and has commenced its 2023 diamond drill campaign at its 100% controlled Consolidated Eskay Gold Project in the Golden Triangle of British Columbia. Precious metal-rich volcanogenic massive sulfide (“VMS”) deposits are the main focus of Eskay’s exploration.

2023 Drill Targets

In a Company news release dated May 18, 2023, Eskay Mining announced recognition of two new drill targets identified by Simcoe Geoscience, the Maroon Cliffs and Hexigon-Mercury geophysical anomalies, both of which display strong geophysical similarities to the nearby Eskay Creek deposit. Since commencing its field program in late June, preparations have been made to drill both of these targets.

Recent field work conducted at site in mid-July has yielded four additional high value drill targets, all of which display geophysical expressions similar to Maroon Cliffs and Hexigon-Mercury. These include:

Storie Creek: This target is an as yet undrilled area situated just 3.5 km SSE of the Eskay Creek mine. Recent geologic interpretation by Eskay Mining’s team indicates that uppermost Hazelton Formation strata including the Contact Mudstone subcrops underneath the NE-trending Storie Creek drainage and dips gently northwestward underneath a veneer of post-mineral Bowser Lake Formation sedimentary rocks (Figures 1 and 2). Extensive gossanous outcrops of Upper Hazelton Formation rocks were discovered along the eastern side of Storie Creek over a strike length of at least 4 km. Gossan forms from weathering of sulfides that may be associated with mineralization. Upon review of historic soil data dating back to the early 1990’s, Eskay’s geologic team has identified two areas where high silver-in-soil values occur, an indication that the Storie Creek gossanous outcrops are likely associated with mineralization. Two drill holes are planned at Storie Creek beginning in late August or early September.

Cumberland: Situated approximately 6 km south of the TV deposit, the Cumberland target appears to be a very robust zone of alteration and mineralization that has seen limited historic drilling dating back +20 years ago. Limited mining occurred near this site in the early 1900’s. Eskay Mining’s team conducted field examination of the site in recent days yielding compelling geologic data. Given its promising geophysical expression, previous promising drill results, and its position along strike from the TV deposit, Cumberland is deemed a high value target justifying two drill holes to be completed in August.

Bruce Glacier: Situated directly between Tarn Lake and Scarlet Knob, Eskay Mining’s team has identified a target in potentially VMS-hosting sea floor strata belonging to Lower Hazelton Formation (Figure 1). This area is under the toe of Bruce Glacier. Given the extensive alteration and mineralization at both Tarn Lake and Scarlet Knob, it is readily apparent there is a likely connection between these two zones under the ice. This target will be tested by two holes to be drilled in August, one from the Tarn Lake side and the other from the Scarlet Knob side.

TV South: The TV deposit, subject of much of Eskay Mining’s drilling over the past three seasons, terminates against a gabbro dike on its south side. Eskay’s team thinks the system continues on the other side of this dike. Geophysics indicates this is a likely scenario. Eskay Mining in planning one drill hole to be drilled in August to test this possibility.

2023 Drill Program

Diamond drilling commenced at the Tarn Lake target a few days ago. A second drill is currently being mobilized to site. Eskay Mining is aiming to complete up to 6,500 m of core drilling in 2023. Targets to be tested include: Maroon Cliffs, Hexigon-Mercury, Tarn Lake, Scarlet Knob, Bruce Glacier, Storie Creek, Cumberland, and TV South. Eskay Mining has decided “sharp-shooting” multiple high quality targets is the best approach to make one or more new discoveries in 2023. Closing of the sale of five mining claims to Skeena Resources along with Eskay’s existing treasury provides funding for this program.

Dr. Quinton Hennigh, P. Geo., a Director of the Company and its technical adviser, a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical contents of this news release.

About Eskay Mining Corp:

Eskay Mining Corp (TSX-V:ESK) is a TSX Venture Exchange listed company, headquartered in Toronto, Ontario. Eskay is an exploration company focused on the exploration and development of precious and base metals along the Eskay rift in a highly prolific region of northwest British Columbia known as the “Golden Triangle,” 70km northwest of Stewart, BC. The Company currently holds mineral tenures in this area comprised of 177 claims (52,600 hectares).

All material information on the Company may be found on its website at www.eskaymining.com and on SEDAR at www.sedar.com.

For further information, please contact:

Mac Balkam
President & Chief Executive Officer		T: 416 907 4020
E: Mac@eskaymining.com

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

Forward-Looking Statements: This Press 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.

(Figure 1. Plan view of Eskay Mining’s land holdings at Consolidate Eskay Gold Project. The blue line indicates the position of the cross section in Figure 2.)

(Figure 2. Cross-sectional interpretation of the geology of the corridor extending from Eskay Creek mine in the northwest to Scarlet Knob in the southeast. See Figure 1 for location. View is to the northeast and field of view is approximately 8 km. At Eskay Creek, mineralization occurs in and around three horizons, all at one time sea floor positions, the Contact Mudstone, Lower Mudstone and Even Lower Mudstone, belonging to the Hazelton Formation. Storie Creek and the region extending approximately 2 km to the northwest has strong potential to host these same three stratigraphic horizons making this a uniquely prospective target. At Tarn Lake, Bruce Glacier and Scarlet Knob, the lowest sea floor position is the focus of exploration.)

SOURCE: Eskay Mining Corp.



View source version on accesswire.com:
https://www.accesswire.com/770590/Eskay-Mining-Identifies-New-Targets-and-Commences-Drilling-at-Its-Consolidated-Eskay-Project-Golden-Triangle-BC

Aurania Resources (AUIAF) – Maintaining a Firm Footing in Ecuador with an Eye Toward France

Posted on by cpereira@noblefcm.com


Tuesday, July 25, 2023

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.

Looking ahead. Through a wholly owned French subsidiary, Aurania Resources applied for an exploration license in the Brittany Peninsula of northwestern France. The concession area has historically been the site of significant high-grade gold finds. Aurania’s interest in the area is attributed to the discovery of several exceptionally high-grade gold samples, two on display at the Natural History Museum in Paris and one in the possession of a private collector, from the same locale. A December 2022 visit to the place of origin revealed abundant quartz vein material on surface along with evidence of mining activity in the 1800s.

Reaching an accommodation in Ecuador. On July 31, Dr. Keith Barron, Aurania’s CEO, will meet with Ecuador’s Minister of Energy and Mines to discuss options to recover concessions that were initially applied for in 2016 but not granted. Because the concessions were initially held in reserve for Aurania, the company conducted airborne geophysics that revealed over 100 discrete magnetic porphyry type targets in the concession area held in reserve. Please refer to our research noted dated June 16, 2023 for more detail.


Get the Full Report

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

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

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

Release – Aurania Applies For Exploration License In Brittany, France

Posted on by aweinsoff@channelchek.com

Research News and Market Data on AUAIF

Aurania Resources Ltd. (TSXV: ARU; OTCQB: AUIAF; Frankfurt: 20Q) (“Aurania” or the “Company”) is pleased to announce it has applied for an exploration license in the Brittany Peninsula of northwestern France through a wholly-owned French subsidiary. The concession area, which includes Hennebont in the Morbihan Department, has historically been the site of significant high-grade gold finds. Placer gold in streams is present in the vicinity of the area.

In December 2022, a very large and high-grade gold specimen was displayed at the Muséum National d’Histoire Naturelle (Natural History Museum) in Paris, France. Museum staff estimates this sample of 3.31 kilograms weight to contain one kilo of gold; it is considered the highest-grade gold sample currently known in France (Figure 1). It consists of vuggy coarse white quartz and native gold. Gold within the vugs is crystalline in nature (Figure 2). The sample is displayed next to a dendritic crystalline gold sample from the same locality (Figures 3 and 4).

Figure 1: High-grade gold specimen in the Natural History Museum, Paris, estimated to contain one kilogram of gold.

Figure 2: Vug in the quartz vein sample, approximately one centimetre across, containing drusy quartz and crystalline native gold.

Figure 3: Gold sample displayed next to a dendritic crystalline gold sample from the same locality.

Figure 4: Description of gold sample at the Natural History Museum in Paris. “Native gold in quartz vein, piece of vein containing more than 1 kilogram of gold, largest sample found in France kept as is, Bank of France deposit (loan)”.

Aurania’s team became aware of the sample last year and approached the museum staff as to its origins and provenance. We were told the samples were purchased by the Banque de France and were on loan to the Museum and that they supposedly came from an old collection.  Museum staff supplied us with an article from the Journal du Morbihan, a newspaper dated August 13, 1875 and entitled “Le quartz aurifere dans le Morbihan”, and an extract from a book published by L’Abbe Henry Breuil, described in Wikipedia as a “French Catholic priest, archaeologist, anthropologist, ethnologist and geologist” and one of the principal early investigators of the cave paintings at Lascaux. Breuil examined a sample weighing 1,400 grams “with a little adhering quartz” that was found in 1875 and acquired by a jeweller. The son of the jeweller said his father had also purchased a nugget of 800 grams at the same time. The newspaper article said that two pieces of auriferous quartz were discovered by road builders 400 metres apart and that one was broken into a piece weighing 117 grams and a piece weighing about 900 grams. A third piece of 1,470 grams was found separately and purchased by the jeweller. The description continued, “These ores are gold-bearing quartz, very rich in gold, even excessively so. This gold is not compact, it is crystalline.”

Aurania’s President and CEO, Dr. Keith Barron met with a collector who wishes to remain anonymous, at the Sainte-Marie-aux-Mines mineral show in Alsace in June 2023, who allowed him to examine a one-kilogram specimen of quartz vein material with abundant gold that he claims comes from the same locality in France. The sample (see Figure 5) closely resembles the museum sample and given the estimated grade of 46% gold (460,000 g/t, or 13,416 oz/ton Au) it is almost certainly from the same locality.

Figure 5: Photo of a new gold-bearing quartz sample shown to Keith Barron by a collector and presumably coming from the same area.

A visit to the locality in December 2022 showed abundant quartz vein material on surface and evidence of past mining activity. Part of the site contains deep water filled pits and trenches that were presumably dug in the 19th century.  Growth of moss on the quartz rocks is considered “luxuriant” and there is no evidence of modern prospecting or mining activity in the area. There has been no glaciation at the site and so the quartz vein material at surface is more or less “in situ”.

Update on Ecuador

On July 31st, Dr. Barron will meet with Mines Minister of Ecuador, Sr. Fernando Santos to discuss the potential “work around” mentioned in the Company’s press release dated June 19, 2023, to recover part or all of the former “Reserved Areas” that were initially applied for in 2016, and contain a large number of discrete magnetic, porphyry type targets. 

At the same time, and in tandem with its exploration project and activities in Ecuador, the Company is excited to actively pursue this extraordinary new gold exploration opportunity in Brittany, France, mentioned above.

Qualified Person

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

About Aurania

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

Click here to view the full press release dated July 24, 2023 on our website including contact details and forward-looking statements.

Haynes International (HAYN) – Lowering Near-Term Estimates; Outlook Remains Favorable

Posted on by cpereira@noblefcm.com


Friday, July 21, 2023

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

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

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

Network outage disrupts shipments. Beginning on June 10th, Haynes experienced a cyber-driven network outage that negatively impacted the company’s operations and caused delays in product shipments. By June 21st, the company’s manufacturing operations were restored along with substantially all administrative, sales, financial, and customer service functions.

Third quarter company guidance. Haynes estimates that net revenues for the quarter were impacted by approximately $18 million to $20 million resulting in third quarter net sales of $142 million to $145 million. Lower production compressed gross margin and earnings were also impacted by costs associated with the investigation and restoration efforts. In total, Haynes estimates the full earnings impact to be in the range of $0.40 to $0.45 per share. Additionally, the negative impact from raw material fluctuations, primarily for cobalt, is estimated to have a negative earnings impact of $0.09 per share. The company estimates third quarter earnings per share will be in the range of $0.65 to $0.70.


Get the Full Report

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

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

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

Release – Century Lithium Appoints New Director

Posted on by aweinsoff@channelchek.com

Research News and Market Data on CYDVF

July 17, 2023 – Vancouver, Canada – Century Lithium Corp. (TSXV: LCE) (OTCQX: CYDVF) (Frankfurt: C1Z) (“Century Lithium” or “the Company”) is pleased to announce the appointment of Dr. Corby G. Anderson to its Board of Directors, effective July 14, 2023.

Dr. Anderson is a Licensed Professional Chemical Engineer with over 40 years of global experience in engineering, design, industrial plant operations, corporate level management, education, research, and professional service. He holds degrees of BSc in Chemical Engineering from Montana State University, an MSc in Metallurgical Engineering from Montana Tech, and a PhD in Mining Engineering and Metallurgy from the University of Idaho. He most recently assisted Century Lithium as its Technical Advisor, Metallurgy.

“We are pleased to welcome Dr. Anderson to the Company’s Board of Directors” said Bryan Disher, Chair of Century Lithium. “As Technical Advisor, Dr. Anderson has been instrumental in the advancement of our Clayton Valley Lithium Project, and we look forward to his continued contribution to the Company in his new role on the Board of Directors”.

About Century Lithium Corp.

Century Lithium Corp. (formerly Cypress Development Corp.) is an advanced stage lithium company, focused on developing its 100%-owned Clayton Valley Lithium Project in west-central Nevada, USA. Century Lithium is currently in the pilot stage of testing on material from its lithium-bearing claystone deposit at its Lithium Extraction Facility in Amargosa Valley, Nevada 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 CENTURY LITHIUM CORP.
WILLIAM WILLOUGHBY, PhD., PE
President & Chief Executive Officer

For further information, please contact:
Spiros Cacos | Vice President, Investor Relations
Direct: +1 604 764 1851
Toll Free: 1 800 567 8181
scacos@centurylithium.com 
centurylithium.com  

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.

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

Posted on by aweinsoff@channelchek.com

Research News and Market Data on ARLP

Company Release – 7/17/2023 7:00 AM ET

TULSA, Okla.–(BUSINESS WIRE)– Alliance Resource Partners, L.P. (NASDAQ: ARLP) will report its second quarter 2023 financial results before the market opens on Monday, July 31, 2023. 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 “investor relations” 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 13739987.

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.

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

Source: Alliance Resource Partners, L.P.

Alliance Resource Partners (ARLP) – Evolving into a Diversified Energy Company

Posted on by cpereira@noblefcm.com


Thursday, July 13, 2023

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.

Refining estimates. While our 2023 EBITDA and EPU estimates are largely unchanged, we have made some quarterly adjustments lowering our second quarter EPU estimate to $1.30 from $1.35 and increasing our fourth quarter EPU estimate to $1.40 from $1.35. We have increased our coal sales volumes in the fourth quarter and modestly reduced our coal volumes and revenue per ton in the second quarter due in part to lower coal export prices during the second quarter which we think will strengthen during the second half. Second quarter crude oil prices were modestly lower than our estimates while natural gas prices were higher. We have trimmed our 2024 EBITDA and EPS estimates to $1.10 billion and $5.65 from $1.11 billion and $5.70, respectively, to reflect modestly lower coal volumes and prices compared to previous estimates.

Strong cash flow facilitates debt reduction. On July 25, Alliance will redeem $50.0 million of its 7.5% senior notes due 2025, representing 14.7% of the $339.2 million in aggregate notes outstanding. In March, the partnership purchased $26.6 million of its outstanding 2025 senior notes in the open market slightly below par. Alliance can call all or any part of its senior notes at par value and management intends to prioritize purchases with available cash flows in 2023 and 2024.


Get the Full Report

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

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

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