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Is the Newfoundland Gold Junior Sell-Off Done?

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This article was originally published by Epstein Research.

 

Commodity prices have been rallying for months, leading economists to worry about inflation. For example, lithium & coking coal prices have quadrupled from last year’s lows, and WTI crude oil & tin have doubled. Precious metals typically do well during inflationary periods.

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However, so far this year gold has not done well. In fact, it’s down ~14% from an Aug. 2020 high ~$2,070/oz. This pullback has caused gold juniors to trade much lower. Well-known names are down up to 69%, Osisko Development -40%, Sabina Gold & Silver -55%, Novo Resources -58% & Pure Gold -69%.

Why is gold lagging so many other commodities? It should be leading the charge as a hedge against growing inflationary pressures. Many believe gold will bounce back above $2,000/oz. next year (if not sooner). Even a move above $1,850/oz. could rekindle interest in the sector.

Several months ago, the Newfoundland gold camp was the hottest in North America….

Newfoundland, one of the hottest gold camps on the planet earlier this year, has gone a bit cold. Pure-play Newfoundland juniors Labrador Gold, Exploits Discovery & Sokoman Minerals are down 44% – 65%. News from the island has slowed as companies are in no rush to announce drill results into a weak market.

One company that’s made tremendous progress, despite poor investor sentiment, is Marvel Discovery (TSX-V: MARV) / (OTCQB: MARVF). From < 15,000 hectares of owned or controlled property in Newfoundland a year ago, Marvel has accumulated just shy of 92,000 ha.

If management closes 1 or 2 more of the transactions they’re currently looking at, they would own/control the 5th largest land bank on the Island. Right now, few seem to care about 92,000 ha (and growing) in a great jurisdiction, but that could change in a heartbeat.

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New blockbuster drill results like the ones reported by New Found Gold [NFG] and/or a higher gold price are all that’s needed. Readers are reminded that NFG reported one of North America’s best gold intervals of the century.

In the chart below, notice that Marvel is trading at an Enterprise Value [EV] {market cap + debt – cash} to a hectare of just $49/ha. Compare that to peers valued at an average of $496/ha. Note: {each company’s EV is adjusted to reflect only its Newfoundland portfolio, all companies are pre-maiden resource}

Marvel Discovery trading at a 90% discount to Newfoundland peers (based on EV/hectare)

By this metric, Marvel is trading at a 90% discount to the peers in the chart. When gold prices rebound, Newfoundland juniors will have a nice bounce. Marvel is positioned to enjoy more than just a bounce. At some point, it should re-rate to a valuation closer to that of the peer average.

As Newfoundland juniors rebound, the peer average EV/ha ratio might increase by say 50%. If that were to happen, and Marvel can shrink its peer discount from 90% to 60%, then its shares would trade at $0.47. The current share price is $0.125.

Imagine that, MARV’s share price could nearly quadruple and its Newfoundland portfolio would still be valued at a 60% discount to pre-maiden resource stage Newfoundland peers.

Clearly, the market doesn’t believe in or doesn’t understand, what CEO Karim Rayani is up to in Newfoundland. Yet, unless he’s lying about the transactions & staking being done — it’s not that hard to understand…. ~92,000 ha owned outright via staking or controlled via option in a world-class mining jurisdiction.

Is it possible that Marvel’s property is situated in bad places? Sure, it’s possible. However, that fear makes little sense as Mr. Rayani has staked & optioned near established leaders on the Island.

When gold rebounds Newfoundland juniors could soar

MARV’s Victoria Lake? It’s near Marathon Gold’s flagship 4.8M ounce Valentine project. MARV’s Slip project? It touches property held by Exploits Discovery and is near Labrador’s high-grade Kingsway project.

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Gander East, South & North are contiguous with, or close to, NFG’s world-class Queensway project where blockbuster assays have vaulted that company to a C$1.5B market cap. The Gander properties total ~29,000 ha, so a very substantial property package next to the hottest gold project in North America, if not the world.

MARV’s Hope Brook property is contiguous with, or close to, First Mining Gold and to a Sokoman + Benton Resources JV. First Mining has delineated 954k ounces (Indicated + Inferred) at a healthy grade of 4.7 g/t gold at its past-producing, 26,650 hectare Hope Brook project (same name as MARV’s property).

MARV’s Baie Verte property is in the Rambler Mining Camp, host to past & current gold producers, most notably Anaconda Mining. Hope Brook is 19k ha, and Baie Verte is 29k ha.

CEO Rayani has amassed three blocks of 29k, 29k & 19k hectares, each of which is larger than entire land packages held by peers in Newfoundland.

Before the end of this decade, Newfoundland will host multiple gold mines. NFG will gobble up the surrounding high-grade deposits that don’t become mines themselves. Marathon will grab nearby stranded deposits. First Mining will do the same.

Marvel has seven properties on the Island, a few of which could become mines, or if not mines, some might make it as valuable satellite deposits for Marathon, NFG & First Mining.

In my opinion, Marvel’s Newfoundland portfolio alone is worth well more than the entire EV of the Company. But wait there’s more…. In addition to the seven properties mentioned, there’s also a potentially important Rare Earth Elements property near Defense Metals’ advanced exploration play. Defense Metals has done a great job advancing its REE project.

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Neodymium & Praseodymium prices are up 115% & 131% year-over-year. Unlike the 700+ gold-heavy juniors listed in Canada, there are probably fewer than 25 decent REE juniors. A good REE story would go a long, long way.

The Company has two projects in northwestern Ontario, a gold play in the Atikokan camp and a PGM property, but again, there’s little interest in precious metals these days.

No one cares about gold & silver, they care about lithium & uranium… people are even excited about coal stocks (coal prices are through the roof). Gold will shine again, and when it does investors will flock to high-grade, safe, gold camps like Newfoundland.

Readers are reminded that stock down 60% has to rally 150% to get back to where it was. Marvel Discovery (TSX-V: MARV) / (OTCQB: MARVF) is not down 60%, but it has room to run before it hits C$0.215 again.

As investors recognize the very considerable land portfolio Marvel has in Newfoundland, the stock could move well beyond its former high.

Disclosures / Disclaimers: The content of this article is for information only. Readers fully understand and agree that nothing contained herein, written by Peter Epstein of Epstein Research [ER], (together, [ER]) about Marvel Discovery Corp., including but not limited to, commentary, opinions, views, assumptions, reported facts, calculations, etc. is to be considered implicit or explicit investment advice. Nothing contained herein is a recommendation or solicitation to buy or sell any security. [ER] is not responsible under any circumstances for investment actions taken by the reader. [ER] has never been, and is not currently, a registered or licensed financial advisor or broker/dealer, investment advisor, stockbroker, trader, money manager, compliance or legal officer, and does not perform market-making activities. [ER] is not directly employed by any company, group, organization, party, or person. The shares of Marvel Discovery are highly speculative, not suitable for all investors. Readers understand and agree that investments in small-cap stocks can result in a 100% loss of invested funds. It is assumed and agreed upon by readers that they will consult with their own licensed or registered financial advisors before making any investment decisions.

Author: Peter Epstein

Base Metals

4 Chinese Stocks to Buy at Discounted Prices

I have always maintained the view that in any market or economic condition, there are pockets of value. This can be in different industries, regions or…

I have always maintained the view that in any market or economic condition, there are pockets of value. This can be in different industries, regions or asset classes. Chinese stocks have been under-performers in 2021. Relative to the United States and Europe, Chinese markets have under-performed by 40%.

I believe that there is a strong case for considering exposure to some Chinese stocks at current levels. It’s difficult to predict an exact time for reversal. There can be further price or time correction. However, considering the valuations, it seems very likely that the downside risk is capped and the upside potential is meaningful.

It’s worth noting that regulatory concerns have been a key reason for Chinese stocks remaining depressed. However, it’s the private sector of the economy that’s the dynamic sector or the sector that triggers GDP growth. The government and the private sector will ultimately iron out differences. The discounted valuation therefore presents a good opportunity to accumulate.

Let’s briefly discuss four Chinese stocks that are worth buying at current levels.

  • Nio (NYSE:NIO)
  • Alibaba Group (NYSE:BABA)
  • JD.com (NASDAQ:JD)
  • XPeng (NYSE:XPEV)

Chinese Stocks to Buy: Nio (NIO)

A Nio (NIO) sign and logo on a tan concrete building.Source: Sundry Photography / Shutterstock.com

At current levels near $30 a share, Nio stock is probably among the most attractive Chinese stocks. The correction in Nio stock in the last 12 months has been due to profit booking, chip shortage and equity dilution. However, the worst seems to be over and with big growth plans in 2022, the stock is poised for a reversal.

Nio is expected to launch three new models during the year. The delivery of ET7 is expected to begin in March. Further, the ET5 is scheduled for deliveries from September 2022. The new models will ensure that delivery growth remains robust in 2022 and 2023.

It’s also worth noting that Nio is pursuing aggressive international expansion. The company plans to have presence in 25 countries by 2025. The focus is likely to continue to be on China and Europe. Catering to the incremental demand, Nio is already expanding its manufacturing capacity.

From a financial perspective, the company reported cash and equivalents of $7.3 billion as of Q3 2021. With the recent at-the-market offering, the company has a cash buffer of over $9.0 billion. This allows Nio the flexibility to invest in innovation and expand its marketing and sales efforts.

Overall, I would not be surprised if NIO stock doubles from current levels in the next 12-18 months.

Alibaba Group (BABA)

Alibaba (BABA) logo on the side of a glass-walled building.Source: testing / Shutterstock.com

The best time to buy a stock is when fear is the dominant sentiment. This still holds true for Alibaba Group stock. Recently, Warren Buffett’s sidekick, Charlie Munger, boosted his stake in BABA stock. This is an indication of the point that value investors are boosting exposure at current levels.

It’s likely that regulatory headwinds will sustain for the technology sector in China. However, BABA stock seems to have discounted the concerns. As a matter of fact, the stock is already higher by 20% from December 2021 lows.

Alibaba has also been delivering strong numbers. For the September quarter, the company reported total revenue growth of 29%. Growth has remained healthy in the core ecommerce and cloud business. Further, it’s very likely that the cloud business EBITDA margin will expand. This will boost cash flows in the coming quarters.

From a financial perspective, Alibaba reported cash and equivalents of $68.8 billion as of September 2021. With sustained free cash flows, Alibaba has ample financial flexibility to invest in emerging businesses.

Within the e-commerce segment, the following point is worth noting; the company’s China commerce business witnessed 30% year-on-year growth. However, international commerce growth was 34%. I believe that international commerce growth will continue to outpace China’s e-commerce growth. The key reason is Alibaba’s presence in Southeast Asia, which is a another high-growth market.

Overall, BABA stock is likely to consolidate and trend higher in 2022 as regulatory headwinds ease on a relative basis.

Chinese Stocks to Buy: JD.com (JD)

the JD.com (JD) logo on the outside of a buildingSource: testing / Shutterstock.com

JD.com stock is another China name that has under-performed in the last 12 months. However, on a relative basis, JD stock has outperformed BABA stock. JD.com remain in a high-growth trajectory and the stock looks attractive for exposure at current levels.

For Q3 2021, JD.com reported revenue growth of 26% on a YoY basis. Further, for the first nine months of 2021, the company reported free cash flow of 28.5 billion renminbi ($4.49 billion). Strong cash flows provide flexibility for organic and acquisition driven growth.

One factor that sets JD.com apart from peers is a robust logistics network. The company’s geographic coverage is across all counties and districts in China. Fulfillment capabilities allow the company to aggressively expand into lower tier cities.

Additionally, JD.com is also expanding omni-channel sales presence. In September 2021, the company opened its first JD Mall. These factors will ensure that the company’s core commerce growth remains healthy.

Coming back to the logistics segment, JD Logistics recently launched an air cargo route between East China and London. With expansion in the international transportation network, the company has ambitious growth plans for this segment.

Overall, JD.com has been delivering healthy cash flows and the company is spreading its wings. JD.com already has presence in e-commerce, brick-and-mortar, healthcare, logistics and real estate. JD stock is worth holding in the long-term portfolio.

XPeng (XPEV)

Xpeng logo and P7 model in store XPEV stockSource: Andy Feng / Shutterstock.com

XPeng stock is another name among Chinese stocks that’s worth holding in the long-term portfolio.

The biggest catalyst for XPEV stock is innovation. In October 2021, XPeng indicated that its ready to launch flying cars in 2024. The cars can also be driven on roads. This is just an example of the vision for the Guangzhou-based maker.

In terms of core business growth, XPeng reported vehicle deliveries of 98,155 vehicles in 2021. On a YoY basis, deliveries increased by 263%. It seems likely that robust delivery growth will sustain through 2022.

XPeng plans to launch its model G9 in Q3 2022. The car will “feature XPeng’s Xpilot semi-autonomous driving system, lidar technology and Nvidia chips.” With XPeng already expanding into Europe, the G9 model is likely to provide the necessary growth traction.

From a financial perspective, XPeng reported cash and equivalents of $7.0 billion as of Q3 2021. Financial flexibility will help in pursuing international expansion and increased investment in research and development. At the same time, as deliveries increase, the company is positioned for sustained growth in vehicle margin.

Overall, XPEV stock looks positioned for a break-out rally in 2022. With multi-year tailwinds for the electric vehicle segment, the stock is worth holding for the long-term.

On the date of publication, Faisal Humayun did not hold (either directly or indirectly) any positions in any of the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Faisal Humayun is a senior research analyst with 12 years of industry experience in the field of credit research, equity research and financial modelling. Faisal has authored over 1,500 stock specific articles with focus on the technology, energy and commodities sector.

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Author: Faisal Humayun

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Energy & Critical Metals

Arconic Co. (NYSE:ARNC) Shares Purchased by Fuller & Thaler Asset Management Inc.

Fuller &amp; Thaler Asset Management Inc. raised its stake in shares of Arconic Co. (NYSE:ARNC) by 32.1% during the third quarter, according to the company…

Fuller & Thaler Asset Management Inc. raised its stake in shares of Arconic Co. (NYSE:ARNC) by 32.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,067 shares of the basic materials company’s stock after buying an additional 5,600 shares during the quarter. Fuller & Thaler Asset Management Inc.’s holdings in Arconic were worth $728,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ARNC. Vanguard Group Inc. lifted its stake in shares of Arconic by 27.3% during the 2nd quarter. Vanguard Group Inc. now owns 10,612,944 shares of the basic materials company’s stock worth $378,033,000 after purchasing an additional 2,276,277 shares during the period. FMR LLC lifted its stake in shares of Arconic by 3,116.6% during the 2nd quarter. FMR LLC now owns 1,740,458 shares of the basic materials company’s stock worth $61,995,000 after purchasing an additional 1,686,350 shares during the period. BlackRock Inc. lifted its stake in shares of Arconic by 3.8% during the 3rd quarter. BlackRock Inc. now owns 19,197,069 shares of the basic materials company’s stock worth $605,475,000 after purchasing an additional 710,024 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Arconic by 1,065.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 510,659 shares of the basic materials company’s stock worth $18,190,000 after purchasing an additional 466,842 shares during the period. Finally, Goldentree Asset Management LP purchased a new position in shares of Arconic during the 2nd quarter worth $13,037,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Shares of NYSE ARNC opened at $32.01 on Friday. Arconic Co. has a 12-month low of $21.80 and a 12-month high of $38.49. The company has a market cap of $3.41 billion, a P/E ratio of -8.27 and a beta of 2.66. The company has a current ratio of 1.57, a quick ratio of 0.78 and a debt-to-equity ratio of 1.01. The stock has a fifty day moving average price of $31.86 and a 200 day moving average price of $32.68.

Arconic (NYSE:ARNC) last announced its earnings results on Tuesday, November 2nd. The basic materials company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.37). The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.95 billion. Arconic had a negative net margin of 6.20% and a positive return on equity of 6.53%. During the same quarter in the prior year, the business earned $0.05 earnings per share. On average, sell-side analysts forecast that Arconic Co. will post 3.2 EPS for the current fiscal year.

ARNC has been the topic of several research reports. Zacks Investment Research raised Arconic from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research report on Tuesday, January 4th. TheStreet raised Arconic from a “d” rating to a “c” rating in a research report on Wednesday, October 13th. JPMorgan Chase & Co. raised Arconic from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $35.00 to $40.00 in a research report on Friday, December 10th. Wolfe Research initiated coverage on Arconic in a research report on Tuesday, November 16th. They issued an “outperform” rating and a $42.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Arconic from $48.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, November 4th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $40.20.

Arconic Company Profile

Arconic Corporation manufactures and sells aluminum sheets, plates, extrusions, and architectural products in the United States, Canada, China, France, Germany, Hungary, Russia, and the United Kingdom. It operates through three segments: Rolled Products, Extrusions, and Building and Construction Systems.

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Want to see what other hedge funds are holding ARNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arconic Co. (NYSE:ARNC).

Institutional Ownership by Quarter for Arconic (NYSE:ARNC)

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Base Metals

The Ethical Investor: Is ESG investing compatible with the metaverse, and Jaaim’s Tui Eruera on AI-powered stock picks

The Ethical Investor is Stockhead’s weekly look at ESG moves on the ASX. This week’s special guest is Tui Eruera, the … Read More
The post The Ethical…

The Ethical Investor is Stockhead’s weekly look at ESG moves on the ASX. This week’s special guest is Tui Eruera, the founder of AI-based investing platform, Jaaims.

Nobody saw it coming, but the race is well and truly on for metaverse supremacy after Microsoft’s historic acquisition of Activision Blizzard this week.

Microsoft’s mindboggling $95 billion acquisition not only made it the world’s third biggest gaming company, but also signalled its entry into the metaverse space.

Activision, which has more than 400 million users, is best known for hit game titles like Call of Duty, Warcraft and Candy Crush. Experts unanimously agree that games and social media are today’s entry points to tomorrow’s world of the metaverse.

This space has virtually taken the world by storm after Facebook announced its rebranding to Meta. Google searches for “metaverse stock” have even increased by 17,900% compared to this time last year, according to research by IG.

Whether we like it or not, it will become part of our daily lives one way or another in the next few years.

All of the top brands from Disney to Walmart and Nike are already racing to carve out their own niche within this virtual space.

 

Source: Investment Week

But with so much excitement, how does the metaverse actually fit in to the world of ESG investing, or vice versa?

How could the ethical investor be comfortable about investing in metaverse stocks?

Here’s a rundown of what the experts think, along with the issues that ESG investors must think about:

Climate change

There are two sides to this argument. On one side, the metaverse could reduce the world’s carbon footprint by altering individual and institutional behaviours.

As more merchants set up e-shops and corporates conduct meetings on the metaverse, there will be a reduction in carbon as we consume less materials and resources to erect physical structures. Building materials like steel and cement currently account for roughly one-third of our global greenhouse gas emissions.

The other side to the coin is that the vast increase in network traffic and data processing needed in running virtual platforms will ultimately increase electricity usage.

This, experts said, is where the adoption of renewable energy could become really crucial in the coming years as the metaverse develops.

Social equality

Experts believe the metaverse will create a more equal society.

As humans become mere digital ‘avatars’ in the virtual world, there will be less discrimination based on age, gender, skin colour, and wealth status.

Everyone could become or feel “equal” in the metaverse.

The World Economic Forum (WEF) has just released a report saying that tech companies play an absolutely critical role in building an equitable and inclusive metaverse.

The WEF says that technology has an excellent track record in helping to level the playing field in society, and the metaverse is the next chapter.

If developed properly, it could help foster the global inclusivity and exchange of ideas necessary for the future.

Mental Health

There is uncertainty on how the metaverse could impact our mental health.

According to the Stanford University’s Virtual Human Interaction Lab, the challenge is going to be when people are spending a lot of time there.

“People will be in ‘a world in which everyone is just perfect and beautiful and ideal.”

The question is, how does that affect one’s own self-esteem? Nobody knows yet.

Professor of psychology Peter Etchells from Bath Spa University believes that we’ll all inevitably become “sucked in” to a virtual world, and want to spend more of our time there than in the offline world.

“I don’t think that’s a given, but it’s nevertheless important that tech companies take a thoughtful and ethical approach to developing metaverse technologies,” says Professor Etchells.

Privacy matters

Speaking of ethical approaches, Meta (or Facebook) has this week filed hundreds of patents related to the metaverse, giving us a glimpse on how the company intends to monetise the virtual world.

According to the Financial Times which has looked into these patents, Meta could implement hyper-targeted advertising and content by creating even more personalised ads based on a user’s age, gender, and the likes and comments they leave on social media.

Another of Meta’s patents will create digital, undistinguishable replicas of people, while another will read a user’s facial expressions and adapt content around them.

In other words, Meta wants to exploit every single move, gait and gaze we make on the virtual world, and that sounds a bit scary…

Increased valuation for ESG stocks

A 2020 survey by McKinsey revealed that 83% executives and investment professionals agree that ESG programs will create shareholder value for investors over the next five years.

At the moment, metaverse stocks are not necessarily being recognised as ESG stocks, the report said.

But analysts believe that when that changes, and as people become more educated, they’ll realise metaverse companies might play an important role in reducing emissions.

ESG interview with Tui Eruera, founder of AI-based investing platform Jaaims

Jaaims is an automated online trading application that uses artificial intelligence tech to analyse, predict and make calculated stock trades on your behalf.

The platform has recently added six new portfolios constructed by the algorithm.

 

Jaaims app
Tui Eruera, founder of Jaaims

 

What exactly does the Jaaims trading platform do for investors?

“We’re a robo advisor that’s a bit different. We use artificial intelligence (AI) based algorithm to make stock recommendations, both buy and sell. You can create your own portfolio within our application, or you can have a fully automated portfolio derived by our AI. And then we’ll buy and sell those equities on your behalf with your preferred broker.

“So it’s a no-touch, hands-off platform, you basically set the parameters of what you want to trade, and that might be ESG-related or something else.”

What ESG factors does the AI algorithm look at when deciding which stocks to buy?

“We work with Sustainalytics. They do a lot of work understanding how companies are meeting the ESG requirements. We have an API feed from Sustainalytics, where we get a huge amount of data, and rankings and ratings depending on which segment of ESG we’re looking at. Using that data, our AI algorithm then determines the top rating ESG performance companies.

“From a list of around 150 stocks, our technology then picks the best 50 ESG stocks, which are rebalanced automatically every 30 days.”

What about fundamental valuation analysis?

“Yes, the algorithm looks at current earnings, forecasts, trailing PE, and all those different ratios. Then it determines if the stock is undervalued, overvalued or neutral compared to its peers.

“We also do technical analysis, where we look at momentum, moving averages etc and determine on a technical basis if it’s a buy or sell. And the third analysis, which is really the sophisticated one, is that we analyse all the sentiment in the market, and we derive from that sentiment a trading recommendation.”

So using this algorithm, tell us some of the ESG stocks you’ve picked

“Two of the Aussie stock picks generated by our AI algorithm are Mirvac Group (ASX:MGR) and Stockland (ASX:SGP).

“Our US stock picks are Universal Health Services, Quanta Services Inc, The Kraft Heinz Company, General Electric Company, Amazon, and Coty Inc.”

 

ASX ESG news this week

Suvo Strategic Minerals (ASX:SUV) has established an independent ESG committee and appointed ESG specialist ESG+F Pty Ltd (“ESG+F”) to oversee the execution of its ESG strategy.

Suvo’s ESG framework focuses on 100 ESG metrics that are believed to be material to its industry sector.

These include climate change, responsible use of resources including energy and water, ecological footprint including biodiversity, health and safety, human rights, social supply chain and shareholder rights.

Sims Limited (ASX:SGM), a global leader in metal recycling, announced that it ranked 11th on the “2022 Global 100 list of most sustainable companies in the world.”

It was a 46-point improvement over its 2021 ranking, and marks the company’s eighth inclusion on the Global 100 list.

Uranium play Aura Energy (ASX:AEE) released a chairman’s letter in which it talks about the recently undertaken Net Zero Emission Study to form a sustainable pathway to uranium production. Results from the report are due to be announced shortly.

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Author: Eddy Sunarto

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