ABAT Ramps Up Nevada Facility; US Gold Receives CK Gold Permit; Tredegar Terphane Sale Under Review And More: Thursday's Top Mining Stories
Portfolio Pulse from Austin DeNoce
American Battery Technology ramps up its Nevada facility, U.S. Gold receives a permit for the CK Gold project, Tredegar's sale of Terphane is under review, and Ivanhoe Electric commits to a Native American initiative.
May 16, 2024 | 8:39 pm
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NEGATIVE IMPACT
Tredegar (NYSE:TG) faces a review of its sale of Terphane to Oben Group after a non-binding opinion from Brazil’s SG-CADE recommended rejection. The case will move to the CADE Tribunal for further review.
The recommendation to reject the sale of Terphane introduces uncertainty and potential delays, likely negatively impacting Tredegar's stock in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Ivanhoe Electric (NYSE:IE) announced a $150,000 multi-year commitment to the Native American Mining and Energy Sovereignty Initiative at Colorado School of Mines’ Payne Institute for Public Policy.
While the commitment to the initiative is positive for corporate responsibility, it is unlikely to have a significant short-term impact on Ivanhoe Electric's stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
American Battery Technology (NASDAQ:ABAT) completed construction and is ramping up production at its Nevada lithium-ion battery recycling facility. The company received $60 million in tax credits and is negotiating their monetization, along with working on additional DOE grants.
The completion and ramp-up of the Nevada facility, along with significant financial support from tax credits and grants, are likely to positively impact ABAT's stock in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
U.S. Gold (NASDAQ:USAU) received a surface gold mine permit for the CK Gold project from the Wyoming Department of Environmental Quality, allowing the company to resume and update its prefeasibility study.
The permit approval for the CK Gold project is a significant milestone, enabling U.S. Gold to advance its studies and potentially boost its stock in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100