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Base Metals Energy Junior Mining Oil & Gas Precious Metals Project Generators

Drought is parching the world’s largest man-made lake, stripping Zambia of its electricity

JACOB ZIMBA

Fri, October 11, 2024 at 10:11 PM EDT

LAKE KARIBA, Zambia (AP) — Tindor Sikunyongana is trying to run a welding business which these days means buying a diesel generator with costly fuel he can’t always afford.

Like everyone in Zambia, Sikunyongana is facing a daily struggle to find and afford electricity during a climate-induced energy crisis that’s robbed the southern African country of almost all its power.

“Only God knows when this crisis will end,” said Sikunyongana. His generator ran out of diesel and spluttered to a halt as he spoke. “You see what I mean?” he said.

Zambia’s worst electricity blackouts in memory have been caused by a severe drought in the region that has left the critical Kariba dam, the source of Sikunyongana’s woes, with insufficient water to run its hydroelectric turbines. Kariba is the largest man-made lake in the world by volume and lies 200 kilometers (125 miles) south of Lusaka on the border between Zambia and Zimbabwe.

The massive dam wall was built in the 1950s and more than 80 workers died during construction. It was meant to revolutionize the countries’ energy supplies by trapping the water of the Zambezi River, turning a valley into a huge lake and providing an endless supply of renewable hydroelectric power.

That’s not the case anymore as months of drought brought by the naturally occurring El Nino weather pattern and exacerbated by warming temperatures have put Zambia’s hydroelectric station on the brink of completely shutting down for the first time.

The water level is so low that only one of the six turbines on Zambia’s side of the dam is able to operate, cutting generation to less than 10% of normal output. Zambia relies on Kariba for more than 80% of its national electricity supply, and the result is Zambians have barely a few hours of power a day at the best of times. Often, areas are going without electricity for days.

Edla Musonda is so exasperated that she’s taken to lugging her entire desktop computer — hard drive, monitor, everything — to a local cafe so she can work.

Musonda and others cram into the Mercato Cafe in the Zambian capital of Lusaka, not for the sandwiches or the ambiance but because it has a diesel generator. Tables are cluttered with power strips and cables as people plug in cell phones, laptops and in Musonda’s case, a home office. This is the only way her small travel business is going to survive.

Less than half of Zambia’s 20 million people had access to electricity before Kariba’s problems. Millions more have now been forced to adjust as mothers find different ways to cook for their families and children do their homework by candlelight. The most damaging impact is during the daylight hours when small businesses, the backbone of the country, struggle to operate.

“This is also going to increase poverty levels in the country,” said economist Trevor Hambayi, who fears Zambia’s economy will shrink dramatically if the power crisis is prolonged. It’s a warning call to the Zambian government and the continent in general about the danger to development of relying heavily on one source of energy that is so climate dependent.

The power crisis is a bigger blow to the economy and the battle against poverty than the lockdowns during the COVID-19 pandemic, said Zambia Association of Manufacturers president Ashu Sagar.

Africa contributes the least to global warming but is the most vulnerable continent to extreme weather events and climate change as poor countries can’t meet the high financials costs of adapting. This year’s drought in southern Africa is the worst in decades and has parched crops and left millions hungry, causing Zambia and others to already declare national disasters and ask for aid.

Hydroelectric power accounts for 17% of Africa’s energy generation, but that figure is expected to rise to 23% by 2040, according to the International Energy Agency. Zambia is not alone in that hydroelectric power makes up over 80% of the energy mix in Mozambique, Malawi, Uganda, Ethiopia and Congo, even as experts warn it will become more unreliable.

“Extreme weather patterns, including prolonged droughts, make it clear that overreliance on hydro is no longer sustainable,” said Carlos Lopes, a professor at the Mandela School of Public Governance at the University of Cape Town in South Africa.

The Zambian government has urged people and businesses to embrace solar power. But many Zambians can’t afford the technology, while the government itself has turned to more familiar but polluting diesel generators to temporarily power hospitals and other buildings. It has also said it will increase its electricity from coal-fired stations out of necessity. While neighboring Zimbabwe has also lost much of its electricity generation from Kariba and blackouts there are also frequent, it gets a greater share of its power from coal plants.

At Kariba, the 128-meter-high (420-feet) dam wall is almost completely exposed. A dry, reddish-brown stain near the top marks where the water once reached in better times more than a decade ago.

Leonard Siamubotu, who has taken tourists on boat cruises on the picturesque lake for more than 20 years, has seen the change. As the water level dropped, it exposed old, dead trees that were completely submerged for years after the wall was built. “I’m seeing this tree for the first time,” he said of one that’s appeared in the middle of the lake.

The lake’s water level naturally rises and recedes according to the season, but generally it should go up by around six meters after the rains. It moved by less than 30 centimeters after the last rainy season barely materialized, authorities said. They hope this year’s rains, which should start in November, will be good. But they estimate that it’ll still take three good years for Kariba to fully recover its hydroelectric capability.

Experts say there’s also no guarantee those rains will come and it’s dangerous to rely on a changing climate given Zambia has had drought-induced power problems before, and the trend is they are getting worse.

“That’s not a solution … just to sit and wait for nature,” said Hambayi.

___

Associated Press journalist Taiwo Adebayo in Abuja, Nigeria contributed to this report.

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For more news on Africa and development: https://apnews.com/hub/africa-pulse

___

The Associated Press receives financial support for global health and development coverage in Africa from the Gates Foundation. The AP is solely responsible for all content. Find AP’s standards for working with philanthropies, a list of supporters and funded coverage areas at AP.org.

___

The Associated Press’ climate and environmental coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP’s standards for working with philanthropies, a list of supporters and funded coverage areas at AP.org.

Original Source: https://finance.yahoo.com/news/tiktok-aware-risks-kids-teens-000147202.html

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Breaking Energy Junior Mining Oil & Gas Precious Metals Project Generators

Investor reactions to briefing from China’s finance ministry on stimulus

FILE PHOTO: A man walks in the Central Business District on a rainy day, in Beijing · Reuters

Fri, October 11, 2024 at 11:24 PM EDT 

SINGAPORE (Reuters) – China said on Saturday it will “significantly increase” government debt issuance to offer subsidies to people with low incomes, support the property market and replenish state banks’ capital as it pushes to revive sputtering economic growth.

Without providing details on the size of the fiscal stimulus being prepared, Finance Minister Lan Foan told a news conference there will be more “counter-cyclical measures” this year.

Global financial markets have been keenly awaiting more details on China’s stimulus plans, fearing its 2024 economic growth target and longer-term growth trajectory may be at risk if more support is not announced soon.

Here are some comments from investors and analysts on the press briefing from China’s finance ministry:

RONG REN GOH, PORTFOLIO MANAGER, EASTSPRING INVESTMENTS, SINGAPORE

“Investors were hoping for fresh stimulus, accompanied by specific numbers, to be announced at the MOF presser, including the size of these commitments. From this perspective, it turned out to be somewhat of a damp squib given only vague guidance was provided.

“That said, there were meaningful measures announced. The MoF affirmed room for the central government to increase debt, more support for housing markets, and increased local government debt quotas to alleviate refinancing woes.

“However, with markets focused on ‘how much’ over ‘what’, they were invariably set up to be disappointed by this briefing.”

HUANG XUEFENG, CREDIT RESEARCH DIRECTOR, SHANGHAI ANFANG PRIVATE FUND CO, SHANGHAI

“The focus seems to be around funding the fiscal gap and solving local government debt risks, which far undershoots expectations that had been priced into the recent stock market jump. Without arrangements targeting demand and investment, it’s hard to ease the deflationary pressure.”

ZHAOPENG XING, SENIOR CHINA STRATEGIST, ANZ, SHANGHAI

“MOF focused more on derisking local governments. It will likely add new quotas of treasury and local bonds. We expect a 10 trillion yuan ($1.42 trillion) implicit debt swap in the next few years. Official deficit and local bond quotas may both increase to 5 trillion yuan going forward. But it looks (to be) not much this year. We expect 1 trillion ultra-long treasury and 1 trillion local bonds to be announced by NPC this month end.”

BRUCE PANG, CHIEF ECONOMIST CHINA, JONES LANG LASALLE, HONG KONG

“The message released from today’s press conference is actually quite in line with the expectations of those familiar with China’s policy-making process and state structure. The officials have given answers to questions of ‘how’ but no details of ‘when’, yet.

“I will expect more details and number of the previewed fiscal stimulus to be published only after the upcoming meeting of the NPCSC to approve a plan to increase treasury issuance and provide a mid-year revision to the national budget. And it would be reasonable and practical to keep room for policy manoeuvring to prepare for external shocks and uncertainties.”

CHRISTOPHER WONG, CURRENCY STRATEGIST, OCBC, SINGAPORE

“There was mention of 2.3 trillion yuan and some details on local bond issuance that can support housing … but it stopped short of a big surprise factor. That said, we shouldn’t lose sight of the bigger picture and that is policymakers acknowledged the issues and are putting in genuine effort to tackle those issues.

“More time may be needed for more thought-out and targeted measures. But those measures also need to come fast as markets are eagerly waiting for them. Over expectations vs under-delivery would result in disappointment and that can manifest itself into Chinese markets.”

TIANCHEN XU, SENIOR ECONOMIST, ECONOMIST INTELLIGENCE UNIT, BEIJING

“Our overall take is quite positive in that MoF is willing to tackle China’s many economic challenges by leveraging its borrowing room. The immediate benefits to the economy will be limited, as the MoF avoided large-scale direct cash handouts to households. However, its commitment to restoring local public finances through fiscal transfer and debt replacement is highly commendable.

“In the medium term, it will put an end to the aggressive deleveraging by local governments and ease the resulting deflationary pressure. And as their financial position stabilises, local governments will be better positioned to support the economy by providing public services and embark on public investments.

VASU MENON, MANAGING DIRECTOR, INVESTMENT STRATEGY, OCBC, SINGAPORE

“The Chinese government’s determination to provide a backstop to the ailing property market and economy came through clearly in the press briefing by the MoF. However, specific numbers with regards to initiatives announced was lacking. The lack of a big headline figure may also disappoint some investors who were hoping for the government to announce a sizeable 2 trillion yuan in fresh fiscal stimulus to shore up the economy and boost confidence.

“Investors were hoping for more measures targeted at households instead of only the real estate sector. While today’s measures were focused on local governments and helping them to purchase unsold homes, it is unclear if this will translate into action as local governments have been reluctant so far to participate in the home purchase program for fear that home prices could fall further.

“Nevertheless, investors will take some comfort from the Finance Minister’s pronouncement that the central government has room to increase debt and the deficit, and that it has other tools in consideration to use in future. This offers hope that more can and will be done, although investors hoping for a big bang fiscal bazooka today will probably be disappointed.

($1 = 7.0666 Chinese yuan renminbi)

(Reporting by Asia markets team and China economics team; compiled by Ankur Banerjee; Editing by Kim Coghill)

Source: https://finance.yahoo.com/news/instant-view-investor-reactions-briefing-032444224.html

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Base Metals Energy Junior Mining Oil & Gas

Peabody to Announce Results for the Quarter Ended June 30, 2024

ST. LOUIS, July 16, 2024 /PRNewswire/ — On Thursday, August 1, 2024, Peabody (NYSE: BTU) will announce results for the quarter ended June 30, 2024.  A conference call with management is scheduled for 10 a.m. CT on Thursday, August 1, 2024.

Instructions for the conference call participation and accessing a replay, as well as other investor data will be available at PeabodyEnergy.com prior to the call.

Participants may also access the call using the following phone numbers:

U.S. Toll Free                   1 833 816 1387
Canada Toll Free            1 866 284 3684
International Toll            1 412 317 0480

Peabody (NYSE: BTU) is a leading coal producer, providing essential products for the production of affordable, reliable energy and steel.  Our commitment to sustainability underpins everything we do and shapes our strategy for the future.  For further information, visit PeabodyEnergy.com.

Contact:
Karla Kimrey
314.342.7900

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Base Metals Emx Royalty Junior Mining Oil & Gas

EMX Royalty Announces the Appointment of Two New Members to the Board of Directors

Vancouver, British Columbia–(Newsfile Corp. – April 29, 2024) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX“) is pleased to announce the appointment of Mr. Dawson Brisco and Mr. Chris Wright as independent directors to the Board effective immediately.

Dawson Brisco

Mr. Brisco is a Professional Geologist with 20 years of mining industry and business development experience in a variety of roles in the bulk commodity, metals and energy sectors. Mr. Brisco is currently the President and CEO of Morien Resources Corp., a Canadian mining royalty company specialized in bulk commodities, a position he has held since 2018. Prior to joining Morien, Mr. Brisco held numerous senior business development and technical roles including senior manager of an exploration alliance with Xstrata in Asia from 2005 to 2010. Mr. Brisco is an independent Director of the Mining Association of Nova Scotia and holds an Honours Bachelor of Science degree in Geology from Saint Mary’s University in Halifax, Nova Scotia.

Chris Wright

Mr. Wright serves as Chief Executive Officer and Chairman of the Board of Liberty Energy. Mr. Wright is a dedicated humanitarian with a passion for bringing the benefits of energy to every community in the world. This passion has inspired a career in energy working not only in oil and gas but nuclear, solar, and geothermal. Mr. Wright embraces all sources of energy if they are abundant, affordable, and reliable.

Mr. Wright completed an undergraduate degree in Mechanical Engineering at MIT and graduate work in Electrical Engineering at both UC Berkeley and MIT. Mr. Wright founded Pinnacle Technologies and served as CEO from 1992 to 2006. Pinnacle created the hydraulic fracture mapping industry and its innovations helped launch commercial shale gas production in the late 1990s. Mr. Wright was Chairman of Stroud Energy, an early shale gas producer, before its sale to Range Resources in 2006. Additionally, Mr. Wright founded and served as Executive Chairman of Liberty Resources and Liberty Midstream Solutions until its sale in 2024. He also sits on the Board of Directors for Urban Solutions Group, and the Federal Reserve Bank, Denver Branch. In addition to his role at Liberty Energy, Mr. Wright serves on the board of numerous organizations and nonprofits, including a founding board member of the Bettering Human Lives Foundation.

About EMX – EMX is a precious, and base metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol “EMX”. Please see www.EMXroyalty.com for more information.

For further information contact:

David M. Cole
President and CEO
Phone: (303) 973-8585
Dave@EMXroyalty.com

Scott Close
Director of Investor Relations
Phone: (303) 973-8585
SClose@EMXroyalty.com

Isabel Belger
Investor Relations (Europe)
Phone: +49 178 4909039
IBelger@EMXroyalty.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

Forward-Looking Statements

This news release may contain “forward looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding EMX’s normal course issuer bid, the Company’s pre-defined plan with its broker to allow for the repurchase of Shares and the timing, number and price of Shares that may be purchased under the normal course issuer bid, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to the market price of the Shares being too high to ensure that purchases benefit the Company and its shareholders, and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the year ended December 31, 2023 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2023, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR+ at www.sedarplus.ca and on the SEC’s EDGAR website awww.sec.gov.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/206843

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Energy Junior Mining Oil & Gas

Peabody Provides Update on First Quarter 2024 Results

ST. LOUIS, April 11, 2024 /PRNewswire/ — Peabody (NYSE:BTU) today announced preliminary unaudited financial results for the first quarter of 2024. The company expects to report first quarter revenue of $980 million; income from continuing operations, net of income taxes of $45 million; and Adjusted EBITDA1 of $160 million. These amounts are estimates, actual first quarter 2024 financial results will be released on May 2, 2024.

Sales volumes in the first quarter were largely in-line with expectations for our seaborne segments while the U.S. thermal segments reported lower than expected shipments. The seaborne thermal segment shipped 4.0 million tons (including 2.5 million export tons), the seaborne met segment shipped 1.4 million tons, the PRB segment shipped 18.7 million tons and the Other U.S. thermal segment shipped 3.2 million tons.

First quarter results were impacted by the following factors: 1) unfavorable seaborne thermal coal mix as a result of lower production at Wambo due to an extended longwall ramp-up offset by additional production of lower quality coal at Wilpinjong; 2) lower average realized prices in the seaborne metallurgical coal segment due to HVA and PCI to HCC price relativities significantly below historical levels and mining of lower quality coal at the CMJV; 3) higher than anticipated costs at the CMJV from an unplanned dragline outage and the acceleration of planned coal prep plant repairs; 4) lower U.S. thermal volumes due to unseasonably warm weather and continued low natural gas prices; and 5) an approximate $18 million non-cash remeasurement of AUD denominated monetary assets.

“Our first quarter included some unforeseen production challenges that are now behind us,” said Peabody President and Chief Executive Officer Jim Grech. “The CMJV dragline and Wambo longwall are again operating on plan and Shoal Creek continues to exceed production expectations as we begin the second quarter.”

On Thursday, May 2, 2024, Peabody will announce results for the quarter ended March 31, 2024.  An investor conference call with management is scheduled for 10 a.m. CT on May 2, 2024.

Instructions for the conference call participation and accessing a replay, as well as other investor data will be available at PeabodyEnergy.com prior to the call.

Participants may also access the call using the following phone numbers:

U.S. Toll Free                      1 833 816 1387
Canada Toll Free               1 866 669 9657
International Toll               1 412 317 0480

Peabody (NYSE: BTU) is a leading coal producer, providing essential products for the production of affordable, reliable energy and steel.  Our commitment to sustainability underpins everything we do and shapes our strategy for the future.  For further information, visit PeabodyEnergy.com.

Contact:
Karla Kimrey
314.342.7890

1 Adjusted EBITDA is a non-GAAP financial measure. Please refer to the tables and related notes in this press release for a reconciliation and definition of non-GAAP financial measures.
Reconciliation of Non-GAAP Financial Measures (Unaudited)
For the Quarter Ended Mar. 31, 2024
(Dollars In Millions)
Note: Management believes that non-GAAP performance measures are used by investors to measure our operating performance. Thesemeasures are not intended to serve as alternatives to U.S. GAAP measures of performance and may not be comparable to similarly-titledmeasures presented by other companies.
Preliminary Estimate
Quarter Ended Mar. 2024
Income from Continuing Operations, Net of Income Taxes$                                              45
Depreciation, Depletion and Amortization80
Asset Retirement Obligation Expenses13
Provision for NARM Loss2
Changes in Amortization of Basis Difference Related to Equity Affiliates(1)
Interest Expense15
Interest Income(19)
Unrealized Losses on Foreign Currency Option Contracts6
Take-or-Pay Contract-Based Intangible Recognition(1)
Income Tax Provision20
Adjusted EBITDA (1)$                                            160
(1)Adjusted EBITDA is defined as income from continuing operations before deducting net interest expense, income taxes, asset retirement obligation expenses and depreciation, depletion and amortization. Adjusted EBITDA is also adjusted for the discrete items that management excluded in analyzing each of our segment’s operating performance, as displayed in the reconciliation above. Adjusted EBITDA is used by management as the primary metric to measure each of our segment’s operating performance and allocate resources.
This information is intended to be reviewed in conjunction with the company’s filings with the SEC.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the securities laws. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words or variation of words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “projects,” “forecasts,” “targets,” “would,” “will,” “should,” “goal,” “could” or “may” or other similar expressions. Forward-looking statements provide management’s current expectations or predictions of future conditions, events or results. All statements that address operating performance, events, or developments that Peabody expects will occur in the future are forward-looking statements. They may include estimates of sales and other operating performance targets, cost savings, capital expenditures, dividends, share repurchases, other expense items, actions relating to strategic initiatives, demand for the company’s products, liquidity, capital structure, market share, industry volume, other financial items, descriptions of management’s plans or objectives for future operations and descriptions of assumptions underlying any of the above. The declaration and payment of future quarterly dividends remains at the discretion of the Board of Directors and will depend on the Company’s financial results, cash flow and cash requirements, future prospects, and other factors deemed relevant by the Board. All forward-looking statements speak only as of the date they are made and reflect Peabody’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance or events. Furthermore, Peabody disclaims any obligation to publicly update or revise any forward-looking statement, except as required by law. By their nature, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Factors that might cause such differences include, but are not limited to, a variety of economic, competitive and regulatory factors, many of which are beyond Peabody’s control, that are described in Peabody’s Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2023 and other factors that Peabody may describe from time to time in other filings with the SEC. You may get such filings for free at Peabody’s website at www.peabodyenergy.com. You should understand that it is not possible to predict or identify all such factors and, consequently, you should not consider any such list to be a complete set of all potential risks or uncertainties. 

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Base Metals Exclusive Interviews Junior Mining Oil & Gas Precious Metals

Genesis AI: Utilizing AI to Solve ESG in Mining?

Website: https://www.genesisaicorp.com/

Genesis AI: CSE: AIG | OTCQB: AIGFF

Genesis AI is revolutionizing natural resource management and protection through artificial intelligence.

The company is developing real-world applications using AI and machine learning to address environmental and sustainability issues in mining.

The carbon module of Genesis AI is used by auditors and verifiers to ensure investments make sense and verify the existence of forests.

By turning data into intelligence, Genesis AI aims to improve efficiency, targeting, and information use in mining operations.

The company has digitized close to three terabytes of data, equivalent to about a quarter billion pages of documentation, to provide stratified tools for exploration companies.

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Base Metals Energy Junior Mining Oil & Gas

Morien Provides Update on Black Point Royalty

Morien Resources Corp.
Morien Resources Corp.

HALIFAX, Nova Scotia, Nov. 01, 2023 (GLOBE NEWSWIRE) — Morien Resources Corp. (“Morien” or the “Company“) (TSX-V:MOX), is pleased to announce that Vulcan Materials Company (“Vulcan”), owner of the Black Point Quarry Project (“BPQ Project” or the “Project”) in Guysborough County, Nova Scotia, is now advancing the Project. Vulcan has indicated a tentative, directional time goal of 18-months to complete various permit-related monitoring plans and commitments as outlined in the Project’s approved environmental assessment.

Morien owns an industry competitive production royalty (“Royalty”) payable on all material sold from the Project.

The BPQ Project hosts a large granite deposit along the southern shore of Chedabucto Bay in Guysborough County, Nova Scotia, with suitable characteristics for the development of a crushed stone marine export operation for supplying markets in the eastern United States. The expected mine life of the Project exceeds 50-years allowing for long-term, multi-generational economic prosperity in the Guysborough region. It is anticipated the operation will create 50-70 direct, full-time jobs in addition to creating multiple spin-off economic impacts in the region.

Since 2017, Morien has received an advanced minimum royalty payment of $25,000 per quarter from Vulcan, subjected to annual inflationary adjustments according to the Producer Price Index for crushed stone. All advanced payments are recorded by Morien as unearned revenue and will be credited against future production royalties from the Project. As at June 30, 2023, Morien’s total recorded unearned revenue amounted to $679,000. Morien is due a milestone payment from Vulcan in the amount of $400,000, to be paid upon the completion of related and pending permitting agreements for the Project.

About Vulcan

Vulcan Materials Company, a member of the S&P 500 Index with headquarters in Birmingham, Alabama, is the United States largest producer of construction aggregates – primarily crushed stone, sand and gravel – and a major producer of aggregates-based construction materials, including asphalt and ready-mixed concrete.

About Morien

Morien is a Nova Scotia based, mining development company created in 2012 to be a vehicle of direct prosperity for Nova Scotians, its largest shareholder group. Led by Nova Scotians, Morien’s primary assets are a royalty on the sale of coal from the producing Donkin Mine in Cape Breton, Nova Scotia, and a royalty on the sale of crushed stone from the permitted Black Point Quarry Project, in Guysborough County, Nova Scotia. Morien’s management team exercises ruthless discipline in managing both the assets and liabilities of the Company. The Company’s management and its Board of Directors consider shareholder returns to be paramount over corporate size, number or scale of assets and industry recognition. The Company has 51,292,000 issued and outstanding common shares and a fully diluted position of 54,192,000. Further information is available at www.MorienRes.com.

Forward-Looking Statements

Some of the statements in this news release may constitute “forward-looking information” as defined under applicable securities laws. These statements reflect Morien’s current expectations of future revenues and business prospects and opportunities and are based on information currently available to Morien. Morien cautions that actual performance will be affected by a number of factors, many of which are beyond its control, and that future events and results may vary substantially from what Morien currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include risks and uncertainties described in documents filed by Morien with the Canadian securities regulators on SEDAR (www.sedar.com) from time to time. Morien cautions that its royalty revenue will be based on production by third party property owners and operators who will be responsible for determining the manner and timing for the properties forming part of Morien’s royalty portfolio. These third party owners and operators are also subject to risk factors that could cause actual results to differ materially from those predicted herein including: volatility in financial markets or general economic conditions; capital requirements and the need for additional financing; fluctuations in the rates of exchange for the currencies of Canada and the United States; prices for commodities including coal and aggregate; unanticipated changes in production, mineral reserves and mineral resources, metallurgical recoveries and/or exploration results; changes in regulations and unpredictable political or economic developments; loss of key personnel; labour disputes; and ineffective title to mineral claims or property. There are other business risks and hazards associated with mineral exploration, development and mining. Although Morien believes that the forward-looking information contained herein is based on reasonable assumptions (including assumptions relating to economic, market and political conditions, the Company’s working capital requirements and the accuracy of information supplied by the operators of the properties in which the Company has a royalty interest), readers cannot be assured that actual results will be consistent with such statements. Morien expressly disclaims any intention or obligation to update or revise any forward-looking information in this news release, whether as a result of new information, events or otherwise, except in accordance with applicable securities laws. All dollar values discussed herein are in Canadian dollars. Any financial outlook or future-oriented financial information in this news release, as defined by applicable securities laws, has been approved by management of Morien as of the date of this news release. Such financial outlook or future-oriented financial information is provided for the purpose of providing information about management’s current expectations and plans relating to the future. Readers are cautioned that such outlook or information should not be used for purposes other than for which it is disclosed in this news release.

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.

For more information, please contact:

Dawson Brisco, President & CEO
Phone: (902) 403-3149
dbrisco@MorienRes.com
or
John P.A. Budreski, Executive Chairman
Phone: (416) 930-0914
www.MorienRes.com

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Energy Oil & Gas

Peabody to Announce Results for the Quarter Ended September 30, 2023

ST. LOUIS, Oct. 12, 2023 /PRNewswire/ — On Thursday, October 26, 2023, Peabody (NYSE: BTU) will announce results for the quarter ended September 30, 2023. A conference call with management is scheduled for 10 a.m. CT on Thursday, October 26, 2023.

Instructions for the conference call participation and accessing a replay, as well as other investor data will be available at PeabodyEnergy.com prior to the call.

Participants may also access the call using the following phone numbers:

U.S. Toll Free                   1 833 816 1387
Canada Toll Free             1 866 284 3684
International Toll              1 412 317 0480

Peabody (NYSE: BTU) is a leading coal producer, providing essential products for the production of affordable, reliable energy and steel. Our commitment to sustainability underpins everything we do and shapes our strategy for the future. For further information, visit PeabodyEnergy.com.

Contact:
Karla Kimrey
314.342.7900

Peabody. (PRNewsFoto/Peabody Energy)
Peabody. (PRNewsFoto/Peabody Energy)
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SOURCE Peabody

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Oil & Gas

Peabody Board Declares Dividend on Common Stock

ST. LOUIS, July 27, 2023 /PRNewswire/ — Peabody (NYSE: BTU) announced today that its Board of Directors has declared a quarterly dividend on its common stock of $0.075 per share, payable on August 30, 2023 to stockholders of record on August 10, 2023.

Peabody is a leading coal producer, providing essential products for the production of affordable, reliable energy and steel. Our commitment to sustainability underpins everything we do and shapes our strategy for the future. For further information, visit PeabodyEnergy.com.

Contact:
Karla Kimrey
314.342.7890

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the securities laws. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words or variation of words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “projects,” “forecasts,” “targets,” “would,” “will,” “should,” “goal,” “could” or “may” or other similar expressions. Forward-looking statements provide management’s current expectations or predictions of future conditions, events or results. All statements that address operating performance, events, or developments that Peabody expects will occur in the future are forward-looking statements. They may include estimates of sales and other operating performance targets, cost savings, capital expenditures, dividends, share repurchases, other expense items, actions relating to strategic initiatives, demand for the company’s products, liquidity, capital structure, market share, industry volume, other financial items, descriptions of management’s plans or objectives for future operations and descriptions of assumptions underlying any of the above. The declaration and payment of future quarterly dividends remains at the discretion of the Board of Directors and will depend on the Company’s financial results, cash flow and cash requirements, future prospects, and other factors deemed relevant by the Board. All forward-looking statements speak only as of the date they are made and reflect Peabody’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance or events. Furthermore, Peabody disclaims any obligation to publicly update or revise any forward-looking statement, except as required by law. By their nature, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Factors that might cause such differences include, but are not limited to, a variety of economic, competitive and regulatory factors, many of which are beyond Peabody’s control, that are described in Peabody’s Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2022 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2023, and other factors that Peabody may describe from time to time in other filings with the SEC. You may get such filings for free at Peabody’s website at www.peabodyenergy.com. You should understand that it is not possible to predict or identify all such factors and, consequently, you should not consider any such list to be a complete set of all potential risks or uncertainties.

Peabody. (PRNewsFoto/Peabody Energy)
Peabody. (PRNewsFoto/Peabody Energy)
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SOURCE Peabody

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