Tag: Natural Resources

Maple Gold Mines (MGMLF) – Leaving No Stones Unturned

Posted on by cpereira@noblefcm.com


Friday, May 19, 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.

Volcanogenic massive sulfide (VMS) targets. Maple Gold Mines Ltd. revealed plans for a summer field program at the Douay and Joutel Gold Projects to explore volcanogenic massive sulfide (VMS) targets. Maple Gold is also planning VMS exploration work at its 100%-owned Morris Project approximately 30 kilometers east of the town of Matagami in Morris Township, Quebec. Morris is located approximately 30 kilometers east of the Matagami VMS mining camp and hosts the Watson Lake rhyolite unit which forms the footwall of all the VMS mines at Matagami.

Multiple styles of mineralization. Maple Gold’s 400 square kilometer land package is highly prospective for multiple styles of mineralization and the company has added technical expertise to its board and technical advisory committee to ensure the land package is fully explored for all sources of potential world class deposits. For example, the joint venture recently hired Dr. Marina Schofield, an expert in volcanology, structural geology, and VMS systems, to lead the company’s VMS exploration efforts.


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

Eskay Mining Corp. (ESKYF) – 2023 Exploration Program Informed by Robust Geophysical Analysis

Posted on by cpereira@noblefcm.com


Friday, May 19, 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.

Focus on geophysics. In March, Mr. Riaz Mirza was appointed as a Geophysical Advisor to Eskay Mining’s exploration team. Mr. Mirza is the founder of Simcoe Geoscience Limited, a global geophysical service provider, and has significant experience exploring a variety of deposit types including volcanogenic massive sulfide (VMS) deposits. Mr. Mirza and Simcoe Geoscience Limited were engaged to review Eskay Mining’s geophysical data from its Consolidated Eskay Project area with the goal of drawing direct comparisons to the original Eskay Creek precious metal-rich VMS deposit which is considered among the world’s most precious metal-rich volcanogenic massive sulfide deposits.

Cut from the same cloth. The Eskay Mining and Simcoe teams quickly identified compelling similarities. The same distinct magnetic signatures observed at the Eskay Creek deposit are visible at numerous locations across the Consolidated Eskay Property.


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

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

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

Release – Maple Gold Outlines VMS-Focused Exploration Targeting and Summer Field Program

Posted on by aweinsoff@channelchek.com

Research News and Market Data on MGMLF

Vancouver, British Columbia–(Newsfile Corp. – May 18, 2023) –  Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) (“Maple Gold” or the “Company“) is pleased to provide an update regarding property-wide volcanogenic massive sulfide (“VMS”) targeting and plans for a summer field program at the Douay and Joutel Gold Projects (“Douay” and “Joutel”, respectively) located in Québec, Canada, which are held by a 50/50 joint venture (the “JV”) between the Company and Agnico Eagle Mines Limited. The Company is also planning VMS exploration work at its 100%-owned Morris Project (“Morris”) located approximately 30 kilometres (“km”) east of the town of Matagami in Morris Township, Québec.

The JV’s primary focus remains on testing resource expansion targets at Douay and testing prospective near-mine extension targets in the Telbel mine area at Joutel. However, the Douay and Joutel projects each have demonstrated potential for gold and base metals VMS mineralization, as is illustrated by a series of targets previously defined by field mapping and geophysical surveying across the combined 400 km² property package (see news from July 19, 2022). Under the terms of the JV agreement, the partners agreed to jointly fund C$500,000 in exploration on VMS targets on the western portion of Douay (see news from February 3, 2021).

Summary of VMS-focused exploration and corporate initiatives:

  • The Company’s mapping, sampling and top of bedrock drilling during 2018 identified six (6) priority target areas for potential base metals and gold-rich VMS mineralization (see press release November 14, 2018).
  • The Company subsequently appointed Dr. Gérald Riverin, a recognized VMS expert with 40+ years of experience in the Abitibi Greenstone belt, to its board of directors and Technical Advisory Committee (see news from June 9, 2020).
  • In late 2021, the JV consolidated two (2) inlier claim blocks covering 22 claims and 12.3 km² of ground in the central portion of Douay in an area deemed prospective for zinc and copper mineralization (see news from October 19, 2021).
  • Also in 2021, the Company acquired 100% of Morris and completed preliminary ground geophysics and lithogeochemical sampling. In 2022 and 2023, the Company completed deep penetrating pulse electromagnetic (“PEM”) surveys that outlined a 3 km long conductive zone adjacent to a favorable rhyolite unit.
  • In 2022, the JV completed a regional airborne magnetic and electromagnetic (“Mag-EM”) survey to support exploration drill targeting, which identified 55 targets within four (4) primary target areas prospective for pyritic gold and VMS mineralization (see news from July 19, 2022). After geophysical review, sixteen (16) of these targets were selected for priority follow-up (see Figure 1).
  • In 2023, the Company appointed Paul Harbidge, CEO of Faraday Copper Corp., an emerging U.S. copper developer, to its Technical Advisory Committee to further strengthen the Company’s technical group and support gold and base metals exploration (see news from February 7, 2023).
  • The JV has recently hired Dr. Marina Schofield, an expert in volcanology, structural geology and VMS systems, to lead the Company’s VMS exploration efforts.

“We have methodically built a pipeline of prospective gold and base metals VMS targets across the large >400 km² Douay-Joutel property package and have expanded our technical expertise in order to systematically evaluate and advance a VMS-focused exploration program,” statedMatthew Hornor, President and CEO of Maple Gold. “The past-producing high-grade Estrades zinc-gold mine is located just over 11 km to the west of Douay-Joutel and the same geologic horizon that hosted that mine appears to continue onto the western portion of the Douay property. Further to the southeast, historical regional exploration drilling along the Joutel Deformation Zone, east of the historical Eagle-Telbel deposits, has also returned anomalous zinc and gold values. We look forward to completing further cost-effective field work this summer to bring the highest priority VMS discovery targets to a drill-ready stage.”

VMS Targets and Associated 2023 Summer Exploration Plans:

Figure 1: Geology base map highlighting VMS and VMS-like base metal mines and deposits in the region and copper-zinc showings.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3077/166582_final%20fig%201%20may%2018.png

The Douay-Joutel property straddles the Casa Berardi Deformation Zone, which is geologically underlain, from south to north, by predominantly intermediate to felsic tuffs of the Joutel-Raymond Grp, the basinal sediments of the Harricana Grp and the predominantly mafic volcanic sequence forming the Cartwright Hills Grp, followed by further basinal sediments of the Taïbi Grp. Although the geological model for Eagle-Telbel is still evolving, gold mineralization was associated with mixed sedimentary and pyroclastic horizons hosting abundant iron carbonate and semi-massive sulfide (pyrite) at the top of the volcanic package that hosts the past-producing Joutel/Poirier VMS mining camp. The main VMS target horizons occur laterally along the Eagle-Telbel Mine Horizon, as well as along multiple interflow horizons within The Cartwright Hills Grp, which include the interpreted eastern extension of the Estrades horizons.


Figure 2: Gold, VMS and base metal target areas in the greater Joutel area (same legend as Fig 1).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3077/166582_final%20fig%202%20may%2018.png

The Joutel Targets (see Figure 2 above) include several EM anomalies within ~2-5 km of the historical Eagle, Telbel and Eagle West deposits that have very limited drilling. These deposits are associated with the Harricana and Joutel Deformation Zones and appear as discrete conductive zones aligned along a well-defined northwest trend. The Mag-EM survey indicates possible similar structures extending more than 9 km further to the east in this area where historical drilling intersected anomalous gold (“Au”) and zinc (“Zn”) in several holes. Hole M-94-078 (also known as McClure 93-2 showing) intersected 0.81% Zn over 0.6 metres (“m”); hole JO-12-05 intersected 6.1 g/t Au over 1.5 m, as well as 0.55% Zn over 4 m further downhole, including 0.88% Zn over 1m.

Planned work to advance VMS targets at Douay and Joutel is expected to include compilation of existing data, including review of historical drill logs, followed by field work including lithogeochemistry and initial follow-up ground EM surveys to support bringing highest priority VMS target areas towards a drill ready stage.

Separately, planned work at Morris is expected to include detailed lithogeochemical sampling to establish the full extent of strong VMS related hydrothermal alteration identified in 2021 and identify promising portions of the 3 km long conductor identified by ground geophysics in 2022 and 2023 (see Figure 3). Morris is located approximately 30 km east of the Matagami VMS mining camp and hosts the Watson Lake rhyolite unit which forms the footwall of all the VMS mines at Matagami.

Figure 3: 100% owned Morris claims with geology and geophysics compilation. Favorable alteration is highlighted by higher Riverindex values.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3077/166582_a96d77c1043a2814_003full.jpg

Qualified Person

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

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. Joness Lang
Executive Vice-President
Cell: 778.686.6836
Email: jlang@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.

LithiumBank Resources (LBNKF) – Achieving Rapid Progress on Multiple Fronts

Posted on by cpereira@noblefcm.com


Monday, May 15, 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.

Carbon neutral lithium production. In April, LithiumBank signed a memorandum of understanding with ZS2 Technologies Inc. for the eventual deployment of ZS2’s proprietary and patented direct-air-capture technology to capture carbon dioxide emissions from LithiumBank’s Boardwalk and Park Place projects. ZS2 will also process treated brine to collect magnesium and calcium for use in their proprietary magnesium cement products. The ZS2 processing facility will generate acid and base byproducts that can cost effectively be used in LithiumBank’s lithium processing plant at Boardwalk. The collaboration with ZS2 supports LithiumBank’s goal of becoming a carbon neutral lithium producer in Alberta.

Flow-through private placement. In April, LithiumBank announced a C$6 million “bought deal” private placement of 3,158,000 units issued on a charity flow-through (FT) basis at a price of C$1.90 per FT unit for gross proceeds of C$6,000,200. Each FT unit is comprised of one common share to be issued as a flow-through share and three quarters of one common share purchase warrant. Each FT warrant will entitle the holder to purchase one non-flow-through common share at an exercise price of C$2.00 for a period of 36 months from the date of issuance. The proceeds will fund eligible exploration expenditures.


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

Coeur Mining (CDE) – First Quarter Results Mostly In Line with Expectations

Posted on by cpereira@noblefcm.com


Thursday, May 11, 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.

First quarter 2023 financial results. First quarter revenue totaled $187.3 million compared to $210.1 million in the prior period and $188.4 million in the first quarter of 2022. Coeur reported an adjusted first quarter loss of $33.1 million or $(0.11) per share compared to our first quarter loss estimate of $33.8 million or $(0.11) per share and the median loss estimate of $30.7 million or $(0.10) per share. On a GAAP basis, the first quarter loss was $24.6 million or $(0.08) per share. First quarter adjusted EBITDA amounted to $25.1 million. Free cash flow during the first quarter amounted to $(109.0) million, inclusive of capital expenditures totaling $74 million.

Guidance reaffirmed. First quarter gold and silver ounces produced were 69.0 thousand and 2.5 million, respectively, while gold and silver ounces sold were 70.9 thousand and 2.6 million. We had forecast gold and silver production of 69.2 thousand and 2.3 million ounces, respectively. Silver production at the Rochester mine was ahead of our estimate. Coeur reaffirmed its 2023 gold and silver production guidance of 320.0 to 370.0 thousand ounces and 10.0 to 12.0 million ounces, respectively. Production is weighted toward the second half of the year due to mine plan sequencing and the anticipated ramp-up and commissioning of the Rochester expansion. Operationally, we expect the third quarter to be the company’s strongest based on the Rochester mine’s production profile.


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

Haynes International (HAYN) – Favorable Outlook Driven by Growing Demand and Margin Strength

Posted on by cpereira@noblefcm.com


Tuesday, May 09, 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.

Second quarter financial results. Second quarter net income increased 45.6% to $12.3 million, or $0.96 per share (EPS), compared to the prior year period and rose 59.6% compared to the first quarter of fiscal year 2023. Revenues of $152.8 million increased 30.5% on a year-over-year basis and grew 15.2% compared to the prior quarter. The estimated impact from raw material volatility during the quarter resulted in a $1.7 million headwind that compressed gross margin by 1.1% to 20.2%. Adjusted EBITDA increased 38.4% to $22.4 million compared to $16.2 million during the prior year period and rose 37.0% compared to $16.4 million during the prior quarter.

Updating estimates. Management expects earnings in the third quarter to be higher than the second quarter and continues to expect fiscal 2023 earnings to be 15% to 20% higher than during fiscal year 2022. To err on the side of conservatism, we have trimmed our fiscal 2023 EBITDA, net income and EPS estimates to $93.3 million, $51.4 million, and $4.04, respectively, from $94.3 million, $53.1 million, and $4.18. Our revised net income estimate represents 15.1% growth year-over-year compared to 18.9% previously. Our 2024 EBITDA, net income, and EPS estimates are $106.8 million, $60.8 million, and $4.80, respectively.


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

Haynes International (HAYN) – Favorable Outlook Driven by a Strong Order Backlog

Posted on by cpereira@noblefcm.com


Friday, May 05, 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.

Second quarter financial results. Second quarter net income increased 45.6% to $12.3 million, or $0.96 per share (EPS), compared to the prior year period and rose 59.6% compared to the first quarter of fiscal year 2023. We had forecast net income of $12.9 million or $1.02 per share. Revenues of $152.8 million increased 30.5% on a year-over-year basis and grew 15.2% compared to the prior quarter. The estimated impact from raw material volatility during the quarter resulted in a $1.7 million headwind that compressed gross margin by 1.1% to 20.2%. Gross profit of $30.9 million was modestly higher than our estimate of $30.1 million although SG&A and interest expenses were also greater than our projections.

Growing order backlog. Orders during the quarter resulted in a record backlog of $446.7 million as of March 31 and represented a 9.4% increase compared to the prior quarter and a 59.2% increase on a year-over-year basis. Backlog pounds increased 3.9% during the second quarter to approximately 14.1 million pounds and increased 33.1% compared to the prior year period driven by strong demand in the aerospace and industrial gas turbine markets.


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

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

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

Comstock Inc. (LODE) – Making the Transition to Commercialization

Posted on by cpereira@noblefcm.com


Thursday, May 04, 2023

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.

Investor webinar. Comstock recently hosted a virtual investor meeting to provide a business update, including a discussion of first quarter financial results and upcoming milestones. Executing a license agreement(s) associated with its biorefining technologies and commencing development of commercial scale projects remains the most significant revenue opportunity in 2023. Within its mining segment, Comstock expects to publish preliminary economic assessments for the Lucerne and Dayton resource areas. Within its lithium-ion battery recycling segment, the company expects to advance the technology readiness for broader material recycling, including photovoltaics.

Sale of battery recycling facility enhances financial flexibility. Comstock’s LINICO subsidiary is advancing the sale of its battery recycling facility in the Tahoe Reno Industrial Center and associated assets to American Battery Technology Corporation (OTCQX: ABML) for a gross price of $27.6 million. As of April 21, Comstock has received $18 million in cash and 10 million restricted shares of American Battery Technology Corporation stock with the guarantee that Comstock will receive additional cash and/or shares if the proceeds for the shares are less than $6.6 million. Comstock expects to receive an additional $3.0 million in cash on or before May 12, 2023.


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

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

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

Alliance Resource Partners (ARLP) – First Quarter Results Exceed Expectations

Posted on by cpereira@noblefcm.com


Thursday, May 04, 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.

First quarter financial results. Alliance reported first quarter EBITDA and earnings per unit (EPU) of $270.9 million and $1.45, respectively, compared to $154.6 million and $0.28 during the prior year period and $293.9 million and $1.63 during the fourth quarter of 2022. We had forecast EBITDA and EPU of $251.0 million and $1.25. While revenue of $662.9 million was modestly above our estimate of $661.1 million, operating expenses of $338.7 million were well below our estimate of $367.1 million. 

Updated guidance. Alliance provided updated 2023 guidance which we have incorporated into our estimates as detailed in the body of this note. While total coal sales volume is still expected to be 36.0 million to 38.0 million tons, coal sales price per ton was reduced to a range of $65 to $67 from $67 to $69 driven by lower pricing expectations for ARLP’s uncontracted coal tonnage position. As a partial offset, segment adjusted EBITDA expense per ton sold was also lowered to $39 to $42 from $40.25 to $42.25. Importantly, Alliance increased the midpoint of its full year guidance for oil and gas volumes on a barrel of oil equivalent basis by approximately 9% due to strong performance on all of its acreage exceeding initial expectations.     


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

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

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

Release – Comstock Announces First Quarter 2023 Results

Posted on by aweinsoff@channelchek.com

Research News and Market Data on LODE

VIRGINIA CITY, NEVADA, MAY 3, 2023 – Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”), an innovator of technologies that enable systemic decarbonization, today announced its recent Q1 2023 operational highlights.

“Over the past three months, we monetized non-strategic assets and positioned ourselves to meet or exceed our $30 million target this year. We have also advanced our fuels, metals, and mining lines of business, and GenMat, our strategic investee, announced a customer demonstration of their physics-based general artificial intelligence capabilities. We are excited that all of this drives our commercializations,” said Corrado De Gasperis, Comstock’s executive chairman and chief executive officer.

Selected Strategic Highlights from the First Quarter 2023

Comstock Fuels

“Our fuels team is unblocking the most meaningful bottleneck in renewable fuel production with proven breakthrough lignocellulosic fuel technology and patented woody-biomass-based feedstock processing solutions,” stated David Winsness, President of Comstock Fuels. “Our team recently demonstrated commercial readiness with unprecedented yields approaching 100 gallons of fuel per dry ton of feedstock on a gasoline gallon equivalent basis.”

  • Advanced our grant award from the U.S. Department of Energy of Comstock’s $2,000,000 grant application to build a pre-pilot scale system to demonstrate one of Comstock’s unique new pathways to produce renewable diesel, sustainable aviation fuel, gasoline, and marine fuel from forestry residues and other forms of lignocellulosic biomass at dramatically improved yield, efficiency, and cost in comparison to known methods.
  • Presented at the 2023 Advanced Bioeconomy Leadership Conference, where David Winsness, president of our fuels business, received a leadership award for his bioeconomy contributions and was named to The 2023 Bioeconomy 500.
  • Advanced our current process such that we can now turn one tonne of woody biomass into more than 45 GGE (gasoline gallon equivalent), of cellulose derived fuels and more than 50 GGE of Bioleum™ derived fuels.

“We are focused on commercialization. Execution of one or more license agreements with operationally experienced, technologically sophisticated, and well capitalized customers is a top 2023 objective, with each license potentially creating more than 20 years of recurring royalty revenue with material upfront engineering fees,” stated De Gasperis.

Comstock Metals

“The world is focused on electrification to reduce reliance on fossil fuels and carbon emissions,” said Dr. Fortunato Villamagna, President of Comstock Metals. “Voluminous amounts of photovoltaic materials are already being removed from large solar fields, effectively creating an immediate and rapidly growing market over the next five years. We are now engaged in sourcing photovoltaics waste materials for processing and foresee a rapid path forward to achieving positive cash flow in 2024, all while creating the foundation for recycling lithium-ion batteries, fuel cells and the broader population of electrification products.”

  • Appointed Dr. Fortunato Villamagna as the President of Comstock Metals Corporation, the entity that owns LINICO Corporation, the Company’s lithium-ion battery metals recycling business.
  • Presented on the topic of manufacturing in the electrification supply chain at the inaugural Nevada Clean Energy & Transportation Conference hosted by Nevada Battery Coalition.
  • Advanced the strategic sale of its facility at 2500 Peru Drive, McCarran, Nevada, for a gross price of $27.6 million.
  • Commenced pre-permitting activities of the Company’s proprietary processing and recycling system in Nevada.

“Securing revenue generating supply commitments in our expanded metals recycling business is a key objective for 2023,” added Mr. De Gasperis. “Sourcing photovoltaics now presents us with a better, safer, and faster cash flowing plan.”

Comstock Mining

“With gold well over $2,000, we are keen to expand the value of our precious metal resources by combining our expansive mineral data repository with GenMat’s advanced hyperspectral orbital imaging and generative artificial intelligence solutions to enable faster and larger mineral discovery, for a fraction of the cost of conventional exploration,” continued Mr. De Gasperis.

  • Presented Comstock’s and GenMat’s capabilities at both the Vancouver Resource Investment Conference,  the world’s largest resource investment conference dedicated to resource exploration and development and the Prospectors and Developers Association Conference in Toronto, Canada, one of the world largest mining conferences.
  • Advanced preparations for the 200-acre site for battery storage in Mound House, Nevada.

GenMat is accelerating the commercialization of disruptive AI generated materials with the help of quantum-probabilistic software solutions that integrate proprietary hyperspectral technology solutions that (a) increase certainty in mineral discovery targets, (b) reduce costs of traditional drill programs, with ground penetrating scans and analytics, and (c) increase discernment for categorizing mineral resources and plans on launching a hyperspectral imager into orbit for mineral imaging later this year.

Artificial Intelligence

 “Our goal is to build and commercialize artificial general intelligence for physics with powerful, science-based capabilities when compared to other known large language and other conventional AI models,” stated Deep Prasad, GenMat’s Chief Executive Officer. “Our AGI will enable the sensing, simulation, and engineering of matter at speeds previously unimaginable.”

  • Developed and launched a new, generative AI for physics to simulate critical properties of known materials during calibration testing late last year. Remarkably, GenMat also used its AI to simulate new material characteristics.
  • GenMat’s physics-based generative AI models can be deployed today, for commercial use on GenMat’s existing high-performance computing platform, well before quantum computers become mainstream.
  • In 2023, GenMat will, among other things, elevate new material simulation to commercial readiness by synthesizing and directly testing new AI simulated materials in high value applications with early adopting customers.

Corporate and Selected Financial Results

“We are leveraging our entire platform, including fuels, metals, generative AI and mining, to break new ground and generate significant revenue growth, starting in 2023,” said De Gasperis. “Our businesses operate as one system, with each business having fully dedicated leaders, teams, and plans for 2023 revenue growth. We believe the value creation and impact on our stakeholders from all of our business will be enormous. Our recent and planned asset sales are now funding this growth.”

  • For the three months ended March 31, 2023, net loss was $5,681,742 or $(0.06) per share, as compared to a net loss of $6,547,023 or $(0.09) per share for the three months ended March 31, 2022.
  • Total assets were $104,991,305 as of March 31, 2023 compared to total assets of $100,053,759 as of December 31, 2022.
  • Debt was $7,073,939 on March 31, 2023 compared to debt at December 31, 2022 of $7,917,333.
  • Cash and cash equivalents were $8,105,256 and $2,521,772 on March 31, 2023 and December 31, 2022, respectively.
  • Outstanding common shares were 103,035,152 at March 31, 2023, and 102,707,603 at May 3, 2023.

Upcoming Events

Comstock is hosting its 2023 Annual Virtual Shareholder Meeting online via webcast Thursday, May 25, 2023 at 9:00 AM, Pacific Time. Shareholders of record on March 31, 2023, will be able to vote and submit questions online during the meeting. Even if you plan to attend the Comstock Inc. 2023 Virtual Shareholder Meeting online; however, we encourage you to vote your shares by proxy as soon as practical at www.ProxyVote.com

If you would like to attend the Annual Virtual Shareholder Meeting online, you must use your 16-digit control number from your proxy card that was mailed to you. Please log in 15 minutes prior to the start of the meeting at: www.virtualshareholdermeeting.com/LODE2023.

The Company is also planning much broader activities during its Virtual Investor Day online June 28, 2023. More details for this event will be made available soon on the Company’s website Investors page.

Conference Call Details

Comstock will host a conference call today, Wednesday, May 3, 2023, at 4:15 p.m. ET to report its First Quarter 2023 results and business update. We invite all investors and other interested parties to register for the webinar at the link below.

Date: Wednesday, May 3, 2023
Time: 4:15 pm ET
Register: Webinar Registration

HAVE QUESTIONS? There will be an allotted time following the live presentation for a Q&A session. Unaddressed questions will be reviewed by management and responded to accordingly. You may submit your question(s) beforehand in the registration form (linked above) or by email at: ir@comstockinc.com.

About Comstock

Comstock Inc. (NYSE: LODE) commercializes technologies that enable systemic decarbonization by efficiently converting under-utilized natural resources into renewable energy products, and by leveraging physics based artificial intelligence = for more efficient and effective mineral and materials discovery.

To learn more, please visit www.comstock.inc.

Forward-Looking Statements

This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future market conditions; future explorations or acquisitions; future changes in our research, development and exploration activities; future financial, natural, and social gains; future prices and sales of, and demand for, our products and services; land entitlements and uses; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land and asset sales; investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives, including the nature, timing and accounting for restructuring charges, derivative assets and liabilities and the impact thereof; contingencies; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings, limitations on sales or offering of equity or debt securities, including asset sales and associated costs; business opportunities, growth rates, future working capital, needs, revenues, variable costs, throughput rates, operating expenses, debt levels, cash flows, margins, taxes and  earnings. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments, and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: adverse effects of climate changes or natural disasters; adverse effects of global or regional pandemic disease spread or other crises; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, and lithium, nickel and cobalt recycling, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration, metal recycling, processing or mining activities; costs, hazards and uncertainties associated with precious and other metal based activities, including environmentally friendly and economically enhancing clean mining and processing technologies, precious metal exploration, resource development, economic feasibility assessment and cash generating mineral production; costs, hazards and uncertainties associated with metal recycling, processing or mining activities; contests over our title to properties; potential dilution to our stockholders from our stock issuances, recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting our businesses; permitting constraints or delays; challenges to, or potential inability to, achieve the benefits of business opportunities that may be presented to, or pursued by, us, including those involving battery technology and efficacy, quantum computing and generative artificial intelligence supported advanced materials development, development of cellulosic technology in bio-fuels and related material production; commercialization of cellulosic technology in bio-fuels and generative artificial intelligence development services; ability to successfully identify, finance, complete and integrate acquisitions, joint ventures, strategic alliances, business combinations, asset sales, and investments that we may be party to in the future; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, lithium, nickel, cobalt, cyanide, water, diesel, gasoline and alternative fuels and electricity); changes in generally accepted accounting principles; adverse effects of war, mass shooting, terrorism and geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the Securities and Exchange Commission; potential inability to list our securities on any securities exchange or market or maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund, or any other issuer.

Contact Information:

Investor Relations
RB Milestone Group
Tel (203) 487-2759
ir@comstockinc.com

Media
Zach Spencer
Comstock Inc.
Tel (775) 847-7532
questions@comstockinc.com

Source: Comstock Inc.

Release – Alliance Resource Partners, L.P. Declares Quarterly Distribution of $0.70 Per Unit

Posted on by aweinsoff@channelchek.com

Research News and Market Data on ARLP

Company Release – 4/28/2023 7:00 AM ET

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 March 31, 2023 (the “2023 Quarter”).

ARLP unitholders will receive a cash distribution for the 2023 Quarter of $0.70 per unit (an annualized rate of $2.80 per unit), payable on May 15, 2023 to all unitholders of record as of the close of trading on May 8, 2023. The announced distribution represents a 100% increase over the cash distribution of $0.35 per unit for the quarter ended March 31, 2022 and is consistent with the cash distribution of $0.70 per unit for the quarter ended December 31, 2022.

As previously announced, ARLP will report financial results for the 2023 Quarter before the market opens on Tuesday, May 2, 2023 and Alliance management will discuss these results during a conference call beginning at 11:00 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 13737890.

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

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

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

Source: Alliance Resource Partners, L.P.

Maple Gold Mines (MGMLF) – Anticipation Builds Following First Phase of Deep Drilling at Douay and Joutel

Posted on by cpereira@noblefcm.com


Friday, April 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.

First phase of deep drilling completed. Maple Gold announced first phase completion of deep drilling at the Douay and Joutel gold projects which are held by a 50/50 joint venture (JV) between Maple and Agnico Eagle Mines Limited. The JV completed more than 13,100 meters of drilling across both projects. Early indications from the joint venture’s first phase of deep drilling are encouraging, particularly at Telbel. At Douay, management is most excited by what has been observed in the drill core beneath the Porphyry Zone. Assay results are expected in the second quarter of 2023 and will be reported once received and interpreted.

100% success rate at Telbel. In the Telbel mine area at Joutel, the joint venture drilled a total of 7,343 meters in three master drill holes and four wedge drill holes. All Telbel drill holes intersected broad zones of semi-massive to massive sulfide mineralization. Hole TB-22-003 and its associated wedges intersected three mineralized zones and bottomed in mineralization. Importantly, upper mineralized zones intersected by the hole were well north of the main mine horizon.


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

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

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

Comstock Inc. (LODE) – Asset Optimization Provides Influx of Cash and Enhanced Financial Flexibility

Posted on by cpereira@noblefcm.com


Friday, April 28, 2023

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.

Battery recycling facility sale. Recall that Comstock’s LINICO subsidiary agreed to sell its battery recycling facility in the Tahoe Reno Industrial Center and associated assets to American Battery Technology Corporation (OTCQX: ABML). LINICO had leased the facility with an option to purchase for $15.25 million, of which $3.25 million was paid. Comstock recently made the remaining $12.0 million payment to Aqua Metals, Inc. (Nasdaq: AQMS) to purchase the facility prior to closing its transaction with ABML.

Sale results in net cash inflows.  As of April 21, Comstock has received $18 million in cash and 10 million restricted shares of American Battery Technology Corporation stock with the guarantee that Comstock will receive additional cash and/or shares if the proceeds for the shares are less than $6.6 million. Based on the April 27 closing price, the ABML shares are worth over $7.7 million. Comstock expects to receive an additional $3.0 million in cash on or before May 12, 2023. 


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.