US Antimony Halts Mexico Operations; Piedmont Lithium New Discoveries; Ferroglobe Sees Positive Net Cash And More: Wednesday's Top Mining Stories
Portfolio Pulse from Austin DeNoce
US Antimony halts Mexico operations, Piedmont Lithium discovers new high-grade lithium zones, Ferroglobe achieves positive net cash and announces dividends and stock buyback, and Solitario Resources discovers new high-grade gold zones.
May 15, 2024 | 9:01 pm
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POSITIVE IMPACT
Ferroglobe reported Q1 adjusted EBITDA of $25.8 million, achieved a positive net cash position, and announced quarterly dividends and a $200 million stock buyback program.
Achieving a positive net cash position, announcing dividends, and a substantial stock buyback program are strong positive signals for investors, indicating financial stability and shareholder returns.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Piedmont Lithium announced new high-grade lithium zones at North American Lithium in Quebec, suggesting a potential resource upgrade and mine life extension.
The discovery of new high-grade lithium zones and potential resource upgrade are positive developments that could enhance the company's production capacity and extend the mine's life.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
US Antimony reported a 28% revenue increase and a 108% rise in gross profit for Q1. The company ceased its Mexico operations, improved its cash position to $11.94 million, and shifted to a 'Discontinued Operation.'
The significant revenue and profit increase, along with the improved cash position, are positive indicators. Ceasing Mexico operations may reduce costs and focus on more profitable U.S. operations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Solitario Resources discovered three new high-grade gold zones at its Golden Crest project, with gold values up to 57.9 grams per ton.
The discovery of high-grade gold zones is a positive development that could significantly enhance the company's resource base and future production potential.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100