Latest news with #molybdenum
Globe and Mail
3 days ago
- Business
- Globe and Mail
Greenland Resources Appoints Jørgen Huno as Senior Advisor
Greenland Resources Inc. (NEO:MOLY, FSE:M0LY) ('Greenland Resources' or the 'Company') is pleased to announce that Dr. Jørgen Huno Rasmussen has joined our European Advisory Board with the objective of providing technical engineering support on the equity capex financing process with the Danish stakeholders. This press release features multimedia. View the full release here: Dr. Jørgen Huno has over 25 years of experience heading international project businesses in general and in mining in particular. Among others, he was CEO of Hoffmann A/S for 16 years, the oldest Scandinavian construction company executing infrastructure projects in Greenland, followed by 10 years as CEO of FLSmidth & Co. A/S, a global leader in mining technology and equipment as well as construction of cement plants on a turnkey basis. He has also for a decade been Vice-Chairman of the international engineering groups Rambøll Group A/S and Topsoe A/S. In addition, Mr Huno Rasmussen has financial experience as former Chairman of the insurance group Tryg A/S and The Lundbeck Foundation. He has a Ph.D. in Project Management from the Technical University of Denmark and is an Adjunct Professor at Copenhagen Business School. Dr. Jørgen Huno commented: 'Greenland Resources Inc. is addressing a critical need especially for Europe to supply the necessary molybdenum and byproduct magnesium, and I am very excited to contribute to this essential project that is combining my experience in mining, large project execution in general and in Greenland in particular.' Dr. Ruben Shiffman, Chairman, commented: 'We are thrilled that Jørgen joined our advisory board. Now that we received our exploitation license, we are beginning the equity capex financing process and Jørgen will be instrumental on technical aspects of the project with Danish stakeholders. The project has the potential to boost Greenland's GDP by approximately 22% and can generate taxes for Greenland equivalent to 18% of Denmark's grants to Greenland. The project can meet all of Denmark's molybdenum demand and can also meet all the EU's defence molybdenum demand (over 80% of metallic materials used in defense applications contain molybdenum). This is relevant because only China and the United States supply primary molybdenum to Europe, and the EU is the second largest molybdenum user worldwide with large processing capacity but has no extraction.' About Molybdenum and the EU The EU is the second largest molybdenum user worldwide, (around 122 million pounds of molybdenum per year, 19% of the global demand according to IMOA), has large processing capacity, produces the best specialty steel products worldwide but has no molybdenum extraction. Green energy technologies, steel and defence are the key drivers for market growth. When molybdenum is added to steel and cast iron, it enhances strength, hardenability, weldability, toughness, temperature strength, and corrosion resistance. To a greater degree, the EU steel dependent industries like automotive, construction, and engineering, represent around 18% of EU GDP. Greenland Resources strategically located Malmbjerg project has the potential to supply in and for the EU approximately 25% of the EU demand of environmentally friendly high-quality primary molybdenum from a responsible EU Associate country for decades to come, as well as 100% of EU defence molybdenum consumption. More than 80% of the metallic materials (including carbon and stainless steels) to be used for defence applications require molybdenum alloying. The primary molybdenum in the Malmbjerg project is ideal for EU defence and high-performance steel applications because of low deleterious elements and long-term security supply. The EU expects to increase defense expenditures from current 1.5% to around 5% of GDP. Primary molybdenum is only produced in China (87%) and the USA (13%), China imposed export controls on molybdenum and is now a net importer. Molybdenum is categorized as a critical and/or strategic mineral across the top five defence nations in the world: U.S., China, Russia, India, and South Korea. About Magnesium and the EU The EU uses around 145,000 tones of magnesium per year (15% of the global demand) but has no treatment facilities nor extraction. Electric vehicle production and sustainable manufacturing practices are key drivers for market growth. Magnesium is a light metal with a high strength-to-weight ratio, primarily utilized in the form of magnesium metal or magnesium compounds such as caustic-calcined magnesia, magnesium chloride, hydroxide and sulfates. Magnesium metal is primarily used as casting alloy in automotive and aerospace industries (64%), aluminum-base alloys for packaging and transportation (18%), and in the desulfurization of iron and steel (4%). Smelter production of magnesium metal in 2024 was 1 million metric tonnes, 85% coming from seawater, while smelter capacity worldwide is double. Also, approximately 75% of magnesium compounds serve industrial purposes including fertilizers, cattle feed, Epsom salts, heat-resistant bricks, de-icing etc. (USGS 2024). China produces 89% of the world magnesium and Europe sources 97% of its magnesium from China (EC, 2023). Qualified Person Statement The news release has been reviewed and approved by Mr. Jim Steel, M.B.A. a Qualified Person as defined by Canadian Securities Administrators National Instrument 43-101 'Standards of Disclosure for Mineral Projects'. Greenland Resources Inc. Greenland Resources is a Canadian public company with the Ontario Securities Commission as its principal regulator and is focused on the development of its 100% owned Climax type primary molybdenum deposit located in central east Greenland. The Project has also magnesium as a byproduct, a market dominated 89% by China. The Malmbjerg project is an open pit operation with an environmentally friendly mine design focused on reduced water usage, low aquatic disturbance and low footprint due to modularized infrastructure. The Malmbjerg project benefits from an NI 43-101 Definitive Feasibility Study completed by Tetra Tech in 2022, with an US$820 million capex and a levered after-tax IRR of 33.8% and payback of 2.4 years, using US$18 per pound molybdenum price. The Proven and Probable Reserves are 245 million tonnes at 0.176% MoS 2, for 571 million pounds of contained molybdenum metal. As the high-grade molybdenum is mined for the first half of the mine life, the average annual production for years one to ten is 32.8 million pounds per year of contained molybdenum metal at an average grade of 0.23% MoS 2, approximately 25% of EU total yearly consumption and 100% of EU defence needs. On byproduct magnesium, the project uses approximately 35,000 m 3 per day of saline water with around 900 ppm of magnesium and the Company is working on extracting magnesium from the saline water using innovative technologies. In addition, the molybdenum concentrate has a magnesium component. The Company is aiming to incorporate magnesium in the economics of the feasibility study. On June 19, 2025, The Company was awarded an exploitation license for molybdenum and magnesium. With offices in Toronto, the Company is led by a management team with an extensive track record in the mining industry and capital markets. For further details, please refer to our web site ( and our Canadian regulatory filings on Greenland Resources' profile at The Project is supported by the European Raw Materials Alliance (ERMA). ERMA is managed by EIT RawMaterials, an organization within the EIT, a body of the European Union. Forward Looking Statements This news release contains "forward-looking information" (also referred to as "forward looking statements"), which relate to future events or future performance and reflect management's current expectations and assumptions. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "hopes", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: the enhancement of technical engineering support on the equity capex financing process with the Danish stakeholders by adding a qualified advisor; the award of the exploitation permit for molybdenum and magnesium for the Malmbjerg project and expected benefits to be received therefrom; mine permit matters; the Company's completion of remaining conditions of the exploitation permit; expected and estimate production from the Malmbjerg project and the extent to which such production may be able to meet the demand of the European Union; the impact of the exploitation permit and the Malmbjerg project on the population and broader economy and society of Greenland; taxes expect to result from the Malmbjerg project; expected uses of and demand for molybdenum and magnesium, in general and in particular regarding such minerals produced from the Malmbjerg project; expected future updates or disclosures from the Company regarding any of the foregoing; and the Company's objectives, goals or future plans. These forward-looking statements and information reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: future planned development and other activities on the Project; satisfactory completion of the Environmental Impact Assessment (EIA); successful completion of public consultation for the Social Sustainability Assessment (SIA); the ability to finance the Company including successfully concluding off-take arrangements, banking facilities and strategic investment; successful completion of the mining and closure plans and obtaining the permitting on the Project in a timely manner; no adverse changes to the planned operations of the Project; continued favourable relationships with local communities; current EU and other initiatives remaining in place into the future; expected demand for molybdenum and magnesium in the EU and abroad, including by companies that expressed an interest in purchasing molybdenum and magnesium; our mineral reserve estimates including magnesium and the assumptions upon which they are based, including geotechnical and metallurgical characteristics of rock confirming to sampled results and metallurgical performance; tonnage of ore to be mined and processed; ore grades and recoveries; assumptions and discount rates being appropriately applied to the technical studies; estimated valuation and probability of success of the Company's projects, including the Malmbjerg molybdenum project; prices for molybdenum and magnesium remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company's projects; capital decommissioning and reclamation estimates; mineral reserve and resource estimates and the assumptions upon which they are based; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner or at all; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive. The Company cautions the reader that forward-looking statements and information include known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: favourable local community support for the Project's development; the projected demand for molybdenum and magnesium both in the EU and elsewhere, including by companies that expressed an interest in purchasing molybdenum and magnesium; the current initiatives and programs for resource development in the EU and abroad; the projected and actual status of supply chains, labour market, currency and commodity prices interest rates and inflation; the projected and actual status of the global and Canadian capital markets, fluctuations in molybdenum, magnesium and commodity prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the Canadian dollar versus the U.S. dollar versus the Euro); operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structure formations, cave-ins, flooding and severe weather); inadequate insurance, or the inability to obtain insurance, to cover these risks and hazards; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices in Greenland, including environmental, export and import laws and regulations; legal restrictions relating to mining; risks relating to expropriation; increased competition in the mining industry for equipment and qualified personnel; the availability of additional capital; title matters and the additional risks identified in our filings with Canadian securities regulators on SEDAR+ in Canada (available at Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described, or intended. Investors are cautioned against undue reliance on forward-looking statements or information. These forward-looking statements are made as of the date hereof and, except as required by applicable securities regulations, the Company does not intend, and does not assume any obligation, to update the forward-looking information. Neither the Cboe Canada Exchange nor its regulation services provider accepts responsibility for the adequacy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
National Post
3 days ago
- Business
- National Post
Greenland Resources Appoints Jørgen Huno as Senior Advisor
Article content TORONTO — Greenland Resources Inc. (NEO:MOLY, FSE:M0LY) ('Greenland Resources' or the 'Company') is pleased to announce that Dr. Jørgen Huno Rasmussen has joined our European Advisory Board with the objective of providing technical engineering support on the equity capex financing process with the Danish stakeholders. Article content Dr. Jørgen Huno has over 25 years of experience heading international project businesses in general and in mining in particular. Among others, he was CEO of Hoffmann A/S for 16 years, the oldest Scandinavian construction company executing infrastructure projects in Greenland, followed by 10 years as CEO of FLSmidth & Co. A/S, a global leader in mining technology and equipment as well as construction of cement plants on a turnkey basis. He has also for a decade been Vice-Chairman of the international engineering groups Rambøll Group A/S and Topsoe A/S. In addition, Mr Huno Rasmussen has financial experience as former Chairman of the insurance group Tryg A/S and The Lundbeck Foundation. He has a Ph.D. in Project Management from the Technical University of Denmark and is an Adjunct Professor at Copenhagen Business School. Article content Dr. Jørgen Huno commented: 'Greenland Resources Inc. is addressing a critical need especially for Europe to supply the necessary molybdenum and byproduct magnesium, and I am very excited to contribute to this essential project that is combining my experience in mining, large project execution in general and in Greenland in particular.' Article content Dr. Ruben Shiffman, Chairman, commented: 'We are thrilled that Jørgen joined our advisory board. Now that we received our exploitation license, we are beginning the equity capex financing process and Jørgen will be instrumental on technical aspects of the project with Danish stakeholders. The project has the potential to boost Greenland's GDP by approximately 22% and can generate taxes for Greenland equivalent to 18% of Denmark's grants to Greenland. The project can meet all of Denmark's molybdenum demand and can also meet all the EU's defence molybdenum demand (over 80% of metallic materials used in defense applications contain molybdenum). This is relevant because only China and the United States supply primary molybdenum to Europe, and the EU is the second largest molybdenum user worldwide with large processing capacity but has no extraction.' Article content About Molybdenum and the EU Article content The EU is the second largest molybdenum user worldwide, (around 122 million pounds of molybdenum per year, 19% of the global demand according to IMOA), has large processing capacity, produces the best specialty steel products worldwide but has no molybdenum extraction. Green energy technologies, steel and defence are the key drivers for market growth. When molybdenum is added to steel and cast iron, it enhances strength, hardenability, weldability, toughness, temperature strength, and corrosion resistance. To a greater degree, the EU steel dependent industries like automotive, construction, and engineering, represent around 18% of EU GDP. Greenland Resources strategically located Malmbjerg project has the potential to supply in and for the EU approximately 25% of the EU demand of environmentally friendly high-quality primary molybdenum from a responsible EU Associate country for decades to come, as well as 100% of EU defence molybdenum consumption. More than 80% of the metallic materials (including carbon and stainless steels) to be used for defence applications require molybdenum alloying. The primary molybdenum in the Malmbjerg project is ideal for EU defence and high-performance steel applications because of low deleterious elements and long-term security supply. The EU expects to increase defense expenditures from current 1.5% to around 5% of GDP. Primary molybdenum is only produced in China (87%) and the USA (13%), China imposed export controls on molybdenum and is now a net importer. Molybdenum is categorized as a critical and/or strategic mineral across the top five defence nations in the world: U.S., China, Russia, India, and South Korea. Article content About Magnesium and the EU Article content The EU uses around 145,000 tones of magnesium per year (15% of the global demand) but has no treatment facilities nor extraction. Electric vehicle production and sustainable manufacturing practices are key drivers for market growth. Magnesium is a light metal with a high strength-to-weight ratio, primarily utilized in the form of magnesium metal or magnesium compounds such as caustic-calcined magnesia, magnesium chloride, hydroxide and sulfates. Magnesium metal is primarily used as casting alloy in automotive and aerospace industries (64%), aluminum-base alloys for packaging and transportation (18%), and in the desulfurization of iron and steel (4%). Smelter production of magnesium metal in 2024 was 1 million metric tonnes, 85% coming from seawater, while smelter capacity worldwide is double. Also, approximately 75% of magnesium compounds serve industrial purposes including fertilizers, cattle feed, Epsom salts, heat-resistant bricks, de-icing etc. (USGS 2024). China produces 89% of the world magnesium and Europe sources 97% of its magnesium from China (EC, 2023). Article content Qualified Person Statement Article content The news release has been reviewed and approved by Mr. Jim Steel, M.B.A. a Qualified Person as defined by Canadian Securities Administrators National Instrument 43-101 'Standards of Disclosure for Mineral Projects'. Article content Greenland Resources Inc. Article content Greenland Resources is a Canadian public company with the Ontario Securities Commission as its principal regulator and is focused on the development of its 100% owned Climax type primary molybdenum deposit located in central east Greenland. The Project has also magnesium as a byproduct, a market dominated 89% by China. The Malmbjerg project is an open pit operation with an environmentally friendly mine design focused on reduced water usage, low aquatic disturbance and low footprint due to modularized infrastructure. The Malmbjerg project benefits from an NI 43-101 Definitive Feasibility Study completed by Tetra Tech in 2022, with an US$820 million capex and a levered after-tax IRR of 33.8% and payback of 2.4 years, using US$18 per pound molybdenum price. The Proven and Probable Reserves are 245 million tonnes at 0.176% MoS 2, for 571 million pounds of contained molybdenum metal. As the high-grade molybdenum is mined for the first half of the mine life, the average annual production for years one to ten is 32.8 million pounds per year of contained molybdenum metal at an average grade of 0.23% MoS 2, approximately 25% of EU total yearly consumption and 100% of EU defence needs. On byproduct magnesium, the project uses approximately 35,000 m 3 per day of saline water with around 900 ppm of magnesium and the Company is working on extracting magnesium from the saline water using innovative technologies. In addition, the molybdenum concentrate has a magnesium component. The Company is aiming to incorporate magnesium in the economics of the feasibility study. On June 19, 2025, The Company was awarded an exploitation license for molybdenum and magnesium. With offices in Toronto, the Company is led by a management team with an extensive track record in the mining industry and capital markets. For further details, please refer to our web site ( and our Canadian regulatory filings on Greenland Resources' profile at The Project is supported by the European Raw Materials Alliance (ERMA). ERMA is managed by EIT RawMaterials, an organization within the EIT, a body of the European Union. Article content Forward Looking Statements Article content This news release contains 'forward-looking information' (also referred to as 'forward looking statements'), which relate to future events or future performance and reflect management's current expectations and assumptions. Often, but not always, forward-looking statements can be identified by the use of words such as 'plans', 'hopes', 'expects', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'believes' or variations (including negative variations) of such words and phrases, or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: the enhancement of technical engineering support on the equity capex financing process with the Danish stakeholders by adding a qualified advisor; the award of the exploitation permit for molybdenum and magnesium for the Malmbjerg project and expected benefits to be received therefrom; mine permit matters; the Company's completion of remaining conditions of the exploitation permit; expected and estimate production from the Malmbjerg project and the extent to which such production may be able to meet the demand of the European Union; the impact of the exploitation permit and the Malmbjerg project on the population and broader economy and society of Greenland; taxes expect to result from the Malmbjerg project; expected uses of and demand for molybdenum and magnesium, in general and in particular regarding such minerals produced from the Malmbjerg project; expected future updates or disclosures from the Company regarding any of the foregoing; and the Company's objectives, goals or future plans. Article content These forward-looking statements and information reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: future planned development and other activities on the Project; satisfactory completion of the Environmental Impact Assessment (EIA); successful completion of public consultation for the Social Sustainability Assessment (SIA); the ability to finance the Company including successfully concluding off-take arrangements, banking facilities and strategic investment; successful completion of the mining and closure plans and obtaining the permitting on the Project in a timely manner; no adverse changes to the planned operations of the Project; continued favourable relationships with local communities; current EU and other initiatives remaining in place into the future; expected demand for molybdenum and magnesium in the EU and abroad, including by companies that expressed an interest in purchasing molybdenum and magnesium; our mineral reserve estimates including magnesium and the assumptions upon which they are based, including geotechnical and metallurgical characteristics of rock confirming to sampled results and metallurgical performance; tonnage of ore to be mined and processed; ore grades and recoveries; assumptions and discount rates being appropriately applied to the technical studies; estimated valuation and probability of success of the Company's projects, including the Malmbjerg molybdenum project; prices for molybdenum and magnesium remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company's projects; capital decommissioning and reclamation estimates; mineral reserve and resource estimates and the assumptions upon which they are based; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner or at all; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive. Article content The Company cautions the reader that forward-looking statements and information include known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: favourable local community support for the Project's development; the projected demand for molybdenum and magnesium both in the EU and elsewhere, including by companies that expressed an interest in purchasing molybdenum and magnesium; the current initiatives and programs for resource development in the EU and abroad; the projected and actual status of supply chains, labour market, currency and commodity prices interest rates and inflation; the projected and actual status of the global and Canadian capital markets, fluctuations in molybdenum, magnesium and commodity prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the Canadian dollar versus the U.S. dollar versus the Euro); operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structure formations, cave-ins, flooding and severe weather); inadequate insurance, or the inability to obtain insurance, to cover these risks and hazards; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices in Greenland, including environmental, export and import laws and regulations; legal restrictions relating to mining; risks relating to expropriation; increased competition in the mining industry for equipment and qualified personnel; the availability of additional capital; title matters and the additional risks identified in our filings with Canadian securities regulators on SEDAR+ in Canada (available at Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described, or intended. Investors are cautioned against undue reliance on forward-looking statements or information. These forward-looking statements are made as of the date hereof and, except as required by applicable securities regulations, the Company does not intend, and does not assume any obligation, to update the forward-looking information. Neither the Cboe Canada Exchange nor its regulation services provider accepts responsibility for the adequacy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Article content Article content Article content Article content Article content Contacts Article content For further information please contact: Article content Ruben Shiffman, PhD Chairman, President Article content Keith Minty, MBA Engineering and Project Management Article content Jim Steel, MBA Exploration and Mining Geology Article content Nauja Bianco, Public and Community Relations Gary Anstey Investor Relations Article content Eric Grossman, CPA, CGA Chief Financial Officer Article content Corporate office Suite 1810, 25 York Street, Toronto, Ontario, Canada M5J 2V5 Article content Telephone 1-844-252-0532 Article content
Yahoo
5 days ago
- Business
- Yahoo
Amerigo Resources (ARREF) Stock Declines While Market Improves: Some Information for Investors
In the latest trading session, Amerigo Resources (ARREF) closed at $1.56, marking a -3.69% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 0.52%. Elsewhere, the Dow saw an upswing of 1%, while the tech-heavy Nasdaq appreciated by 0.52%. Heading into today, shares of the copper and molybdenum mining company had gained 19.06% over the past month, outpacing the Basic Materials sector's gain of 4.06% and the S&P 500's gain of 5.95%. Investors will be eagerly watching for the performance of Amerigo Resources in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.05, indicating a 16.67% decline compared to the equivalent quarter last year. Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.21 per share and revenue of $0 million, indicating changes of +75% and 0%, respectively, compared to the previous year. Investors should also take note of any recent adjustments to analyst estimates for Amerigo Resources. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook. Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system. The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Amerigo Resources presently features a Zacks Rank of #3 (Hold). Looking at valuation, Amerigo Resources is presently trading at a Forward P/E ratio of 7.69. This valuation marks a discount compared to its industry average Forward P/E of 24.02. Meanwhile, ARREF's PEG ratio is currently 0.38. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Mining - Non Ferrous industry held an average PEG ratio of 0.91. The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 149, finds itself in the bottom 40% echelons of all 250+ industries. The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Make sure to utilize to follow all of these stock-moving metrics, and more, in the coming trading sessions. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Amerigo Resources Ltd. (ARREF) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
25-06-2025
- Business
- Yahoo
COPPER GIANT ANNOUNCES PARTIAL DRILL RESULT OF HOLE MD-047, INCLUDING 303-METRES GRADING 0.54% COPPER - THE HIGHEST COPPER INTERCEPT TO DATE WITHIN A PORPHYRY UNIT AT THE MOCOA PORPHYRY COPPER-MOLYBDENUM PROJECT, PUTUMAYO, COLOMBIA
Hole MD-047 intercepted visible copper and molybdenum mineralization from surface to the end of the hole (EOH). First 489m assayed 0.45% CuEq* (0.35% Cu and 0.02% Mo), including 303-metres grading 0.67% CuEq* (0.54% Cu and 0.03% Mo). These represent the highest copper grades intersected to date within a porphyry unit at Mocoa. Final assay results will be reported in the upcoming days (Table 1 and Figure 2). MD-047 confirms the orientation of C and B-type veinlets host the bulk of copper and molybdenum mineralization at Mocoa, and the high-grade interval suggests a newly recognized high-grade phase within a porphyry, previously seen only in mineralized breccias. Detailed logging shows a multi-stage mineralization event with multiple generation of veining within a sericite-altered intermineral porphyry (I1). Most of the C-veinlets trend 188/58 (Dip Direction/Dip) and the B-type trend 232/60 (Dip Direction/Dip). This new structural information is now being integrated into the 3D geological model of Mocoa to better understand the high-grade copper and molybdenum distribution within the porphyry deposit. Copper Giant clarifies that Resolution 0631 issued by Corpoamazonia does not apply to its permitted mining titles or current exploration activities. Further details are provided below. VANCOUVER, BC, June 25, 2025 /CNW/ - Copper Giant Resources Corp. ("Copper Giant" or the "Company") (TSXV: CGNT) (OTCQB: LBCMF) (FRA: 29H0) is pleased to announce partial drill result of the first 489-metres of hole MD-047, as part of the Company's 14,000-metre resource expansion program at its flagship Mocoa porphyry copper-molybdenum project in Putumayo, Colombia. Drilling remains active with two rigs operating on newly constructed pads. Due to the exceptional copper grades intercepted and an operational delay requiring a wedge installation at 810 metres, the Company has chosen to release the upper portion of the hole in advance of final results. The mineralization highlights a potential new high-grade phase of the system. "This is one of the most exciting results at Mocoa to date—303 metres at 0.54% copper, entirely within a porphyry unit, not breccia. That's a major development. It points to a new high-grade phase and validates the broader upside we outlined in our updated exploration target. With both rigs now turning, we're advancing quickly to define scale, unlock new zones, and position Mocoa as one of the few remaining copper systems with real potential to grow meaningfully." — Ian Harris, President & CEO. Hole MD-047 Hole MD-047 continues to improve geological understanding of the Mocoa porphyry system and provides further evidence for its large-scale, multi-phase nature. Detailed Anaconda-style logging has confirmed multiple overprinting stages of hydrothermal alteration, consistent with those documented in holes MD-044 (refer to news release dated January 6, 2025), MD-045 (refer to new release dated February 26, 2025), and MD-046 (refer to news release dated May 6, 2025). The upper 120 metres of the hole intersected a strongly argillic-altered dacite porphyry characterized by multiple generations of D-type veinlets, locally overprinted by iron oxides features interpreted as part of a leach cap environment developed at the top of the system (Figure 3A) and locally observed reopened the structural space of earlier B-type veins, indicating a reactivation of fluid pathways during late-stage mineralization (Figure 3B). Beneath this zone, the hole intercepted an inter-mineral porphyry (I1) pervasively altered by sericite with localized remnants of K-feldspar alteration. This interval hosts a complex network of well-developed A-type veinlets crosscutting early dark micaceous (EDM) veinlets (Figure 3C), alongside abundant chalcopyrite-dominant C-type veinlets that overprint molybdenite-rich B-type veinlets (Figure 3D and 3E). These crosscutting relationships provide compelling evidence of a long-lived system with a prolonged and multi-pulsed mineralizing event, reinforcing the interpretation of Mocoa as a large and fertile porphyry system. MD-047 From (m) To (m) Interval (m) Cu (%) Mo (%) CuEq* (%)0 489 489 0.35 0.02 0.45 including 187 489 303 0.54 0.03 0.67 and including 395 489 94 0.53 0.05 0.74490 810 321 pending pending pending Table 1 – Partial assay results for drill hole MD-047. *Copper equivalent (CuEq) for drill hole interceptions is calculated as: CuEq (%) = Cu (%) + 4.2 × Mo (%), utilizing metal prices of Cu - US$4.00/lb and Mo - US$20.00/lb and metal recoveries of 90% Cu and 75% Mo. Grades are uncut. Mineralized zones at Mocoa are bulk porphyry-style zones and drilled widths are interpreted to be very close to true widths. Drilling of MD-047 experienced a five-day delay at approximately 810 metres depth due to drill rods stuck in a fractured zone. A wedge was successfully installed to bypass the obstruction, all issues have been resolved, and drilling is now advancing according to plan toward the target depth. Logging of the remaining core is ongoing, and samples from the lower interval will be submitted for assay once logging and sampling procedures are completed. Final assay results will be reported as they become available. Clarification on Resolution 0631 Issued by Corpoamazonia Copper Giant is aware of public commentary surrounding Resolution No. 0631, issued by Corpoamazonia on June 13, 2025, regarding mining activity within the municipality of Mocoa. While the resolution has generated attention, it does not apply to existing mining titles, active exploration programs, or projects with valid permits. Copper Giant's current operations remain fully permitted, in compliance with all legal and regulatory frameworks, and entirely unaffected. Resolution 0631 applies solely to new mining titles within a defined 93,000-hectare portion of the municipality of Mocoa, which spans approximately 130,500 hectares (1,305 km²). It does not suspend environmental permitting or introduce new legal thresholds. Instead, it places a conditional pause on new mining initiatives—subject to technical and scientific evaluation demonstrating no severe or irreversible environmental harm. These requirements mirror Colombia's existing Environmental Impact Assessment (EIA) standards and do not alter the permitting pathway. The resolution also designates the area as an "Area of Environmental Interest." While this term signals an intent to prioritize environmental considerations in territorial planning, it carries no direct legal implications for existing operations. The timing and tone of the resolution appear aligned with Colombia's shifting political landscape ahead of the March 8, 2026 congressional and senate elections. Framed as bold environmental action, it largely reaffirms the existing regulatory process. For current projects like Mocoa, the resolution changes nothing operationally—and by reiterating the standard permitting structure, it implicitly affirms a continued path forward. Copper Giant would also like to clarify that Colombian law recognizes each Indigenous community as autonomous, with the right to prior consultation when a project overlaps its territory. Within the Mocoa project, only the Inga Indigenous Reservation of Condagua holds ancestral territory and is the sole entity legally recognized to represent those interests. Copper Giant maintains a continuous process of respectful dialogue and formal consultation with the Inga, grounded in trust, transparency, and shared responsibility. In addition, the Company engages other Indigenous communities in the region through a dedicated Coordinator for Ethnic Communities, ensuring all stakeholders are informed of our activities and the scientific basis guiding our work. Educational materials have been translated into the Inga language to support culturally aligned communication. Copper Giant continues to operate to the highest environmental and technical standards. Drilling remains active under our permitted resource expansion program, with full coordination across national and regional authorities. We remain committed to transparency, regulatory compliance, and long-term partnership with communities. Qualified Person and Technical Notes Edwin Naranjo Sierra, Exploration Manager of Copper Giant is the designated Qualified Person within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") and has reviewed and verified the technical information in this news release. Mr. Naranjo holds a MSc. in Earth Sciences and is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM). *Copper equivalent (CuEq) for drill hole interceptions is calculated as: CuEq (%) = Cu (%) + 4.2 × Mo (%), utilizing metal prices of Cu - US$4.00/lb, Mo - US$20.00/lb. Metal recoveries utilized for the resource model are 90% for Cu and 75% for Mo. Mineralized zones at Mocoa are bulk porphyry-style zones and drilled widths are interpreted to be very close to true widths. Copper Giant operates according to a rigorous Quality Assurance and Quality Control (QA/QC) protocol consistent with industry best practices. Core diameter is a mix of HQ and NQ depending on the depth of the drill hole. Diamond drill core boxes were photographed, sawed, sampled and tagged in maximum 2-metre intervals, stopping in geological boundaries. Samples were bagged, tagged and packaged for shipment by truck from Copper Giant's core logging facilities in Mocoa, Colombia to the Actlabs certified sample preparation facility in Medellin, Colombia. ActLabs is an accredited laboratory independent of the Company. Samples are processed in the Medellin facilities where they are analyzed for copper and molybdenum by 4-Acid digest Atomic Absorption (AA) analysis. The sample pulps are air freighted from Medellin to the ActLabs certified laboratory in Guadalajara, Mexico, where they are analyzed for a suite of 57 elements using 4-Acid digest and ICP-MS. In order to monitor the ongoing quality of assay data and the database, Copper Giant has implemented QA/QC protocols which include standard sampling methodologies, the insertion of certified copper and molybdenum standard materials, blanks, duplicates (field, preparation and analysis) randomly inserted into the sampling sequence. QA/QC program also include the ongoing monitoring of data entry, QA/QC reporting and data validation. No material QA/QC issues have been identified with respect to sample collection, security and assaying. About the Mocoa Porphyry System The Mocoa project is located in the department of Putumayo, approximately 10 kilometres from the town of Mocoa in southern Colombia. Copper Giant holds a district-scale land package of over 790 square kilometres through granted titles and applications, covering a substantial portion of the Jurassic porphyry belt - an underexplored and highly prospective metallogenic zone in the northern Andes. Discovered in 1973 through a regional geochemical survey by the United Nations and the Colombian government, Mocoa has been the subject of multiple exploration campaigns. Between 1978 and 1983, follow-up work included geological mapping, IP and magnetic geophysics, surface sampling, drilling, and metallurgical testing. Additional drilling by B2Gold in 2008 and 2012 helped shape the current geological understanding. The deposit is hosted in Middle Jurassic dacite and quartz-diorite porphyries intruding andesitic to dacitic volcanics, within Colombia's Central Cordillera. This 30-kilometre wide tectonic belt extends into Ecuador and hosts other major porphyry systems like Mirador, Warintza, San Carlos, and Panantza. Mocoa displays a classical porphyry-style alteration zonation: potassic core, sericitic halo, and outer propylitic zone, with mineralization consisting of disseminated chalcopyrite and molybdenite, and local bornite and chalcocite, associated with stockworks and hydrothermal breccias. The system features over 1,000 metres of vertical continuity, overlapping hydrothermal stages, and a broad alteration footprint. Multiple intrusive phases, brecciation events, and vein generations suggest a dynamic magmatic-hydrothermal evolution likely driven by more than one porphyry center. Mocoa remains open in all directions, with several satellite targets identified across the broader land package. These features support the interpretation of a district-scale porphyry system and position Mocoa as one of the most significant undeveloped copper-molybdenum assets in the Andes 1 For further information refer to NI 43-101 Technical Report, entitled "Technical Report on the Mocoa Copper-Molybdenum Project, Colombia", dated January 17, 2022, prepared by Michael Rowland Brepsant, FAusIMM, Robert Sim, and Bruce Davis, FAusIMM. with an effective date of November 01, 2021. About Copper Giant Copper Giant Resources Corp. is part of the Fiore Group, a private and well-established Canadian organization known for building successful, high-impact companies across the natural resource sector. Copper Giant was formed with a singular focus: to advance high-quality copper projects beyond resource definition—responsibly, efficiently, and with long-term positive impact. The Company is led by a team with uncommon experience, having successfully taken some of the few major copper mines developed in the past two decades from discovery through to construction. Copper Giant's current focus is the Mocoa copper-molybdenum deposit in southern Colombia, one of the largest undeveloped resources of its kind in the Americas. Recent exploration success has revealed potential well beyond its original footprint, highlighting Mocoa as a broader district-scale opportunity—and the catalyst for the Company's name and evolution. Guided by the values of respect and responsibility, and grounded in its Good Neighbor philosophy, Copper Giant is committed to creating enduring value for all stakeholders and playing a meaningful role in the global energy transition. 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. This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, including statements regarding the drilling results of MD-047, the outcome of the Company's current resource expansion strategy; other activities and achievements of the Company, including but not limited to: the timing and success for the advancement of the Mocoa Project, the expansion of the Mocoa resource base; are to be considered forward looking. Although Copper Giant 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 forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices and volatility with the Company's common shares, exploitation and exploration successes, uncertainty of reserve and resource estimates, risks of not achieving production, continued availability of capital and financing, processes, permits and filing requirements, risks related to operations in foreign and developing countries and compliance with foreign laws and including risks related to changes in foreign laws and changing policies related to mining and local ownership requirements in Colombia, and general economic, market, political or business conditions and regulatory and administrative approvals. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements SOURCE COPPER GIANT RESOURCES CORP. View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Amerigo Resources (ARREF) Declines More Than Market: Some Information for Investors
Amerigo Resources (ARREF) closed at $1.34 in the latest trading session, marking a -2.9% move from the prior day. This change lagged the S&P 500's daily loss of 0.22%. Elsewhere, the Dow saw an upswing of 0.08%, while the tech-heavy Nasdaq depreciated by 0.51%. The copper and molybdenum mining company's stock has climbed by 8.41% in the past month, exceeding the Basic Materials sector's gain of 2.25% and the S&P 500's gain of 0.45%. The upcoming earnings release of Amerigo Resources will be of great interest to investors. The company is expected to report EPS of $0.05, down 16.67% from the prior-year quarter. For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.21 per share and a revenue of $0 million, signifying shifts of +75% and 0%, respectively, from the last year. Investors should also note any recent changes to analyst estimates for Amerigo Resources. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential. Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system. The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Amerigo Resources currently has a Zacks Rank of #3 (Hold). From a valuation perspective, Amerigo Resources is currently exchanging hands at a Forward P/E ratio of 6.57. This valuation marks a discount compared to its industry average Forward P/E of 23.38. We can also see that ARREF currently has a PEG ratio of 0.33. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Mining - Non Ferrous industry held an average PEG ratio of 0.89. The Mining - Non Ferrous industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 97, this industry ranks in the top 40% of all industries, numbering over 250. The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Don't forget to use to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Amerigo Resources Ltd. (ARREF) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
