Coal Stocks On The Rise As Demand For Steel Soars In 2024

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Although there has been a global push towards cleaner energy sources, coal still remains a vital part of our energy mix. In fact, a recent report by the International Energy Agency found that global coal demand hit an all-time high in 2022 amid the energy crisis, far outpacing the previous record set in 2013. According to the U.S. Department of Energy, coal accounted for about 20% of the country's electricity production as of October of last year, highlighting the commodity's significance in maintaining grid stability.

Despite the fact that the coal industry has grappled with major headwinds like a string of coal companies going bankrupt, the broader coal industry had an impressive year in 2023, with coal stocks collectively gaining about 40% in the year, further reaffirming the resilience of the commodity. That was thanks to a renewed focus on metallurgical coal, which experts agree will continue to experience robust demand going forward, driven by an increase in the demand for steel. For investors looking for a way to play this demand, here are some coal stocks that could offer exposure to the sector.

Benjamin Hill Mining Corp. (OTCQB: BNNHF) (CSE:BNN), which is currently focused on its Alotta Exploration Project and Aion Mining Corp.'s Coal Project, has been making significant inroads in its exploration activities.

Hosted in the Canadian Yukon, the Alotta project, which is BNN's flagship project, initiated a diamond drilling program in November last year. Leveraging intricate IP data showing anomalous copper and gold in soil, in addition to compelling geophysical anomalies, the drill program strategically targeted the central area of a substantial chargeability anomaly spanning over 2 kilometers at the project.

The company selected Archer Cathro and Associates as the consulting firm to provide logistical, permitting, and drilling services based on the fact that it has been one of the most prolific explorers in the Yukon for the past five decades and has been responsible for discovering and advancing a wide variety of deposits.

The findings of the program didn't disappoint, as the results revealed a large, multiphase porphyry system at the south-central portion of the induced polarization chargeability. According to the core samples, the project showed mineralization rich in pyrrhotite, pyrite, chalcopyrite, and molybdenite, which reaffirmed Alotta's significant resource potential.

Following the success of the diamond drill program at Alotta, Benjamin Hill Mining Corp. (OTCQB:BNNHF) (CSE:BNN) made the strategic decision to double down on its coal investments. The company announced that it had signed a non-binding letter of intent with Aion Mining Corp. for the acquisition of a 20% interest in Aion and its fully permitted coal project located in Santander, Colombia. This move not only reaffirms the company's commitment to strategically expanding its coal resource footprint but also diversifies its portfolio of coal projects.

Earlier this month, BNN provided a corporate update regarding the project, which revealed a number of interesting facts. Both historical and recent drilling programs revealed that the FLG-111 concession has eight known seams of metallurgical and thermal coal. CEO Cole McClay noted: "Our strategic investment in Aion Mining Corp. presents a great opportunity to enter the coal industry with a project that is primed to advance quickly with all required permits, exciting exploration discoveries, and a highly skilled multi-national technical and operations team."

With permits already granted to Aion for the extraction of up to 180,000 tons of coal per year, the project is set to advance rapidly. Right now, the focus is on quickly developing the infrastructure following the acquisition of an additional 24-hectares of land to provide surface access rights and, at the same time, the mobilization of large equipment for advanced site preparation and surface works.

Thanks to taking the stake in Aion, Benjamin Hill Mining Corp. (OTCQB:BNNHF) (CSE:BNN) is positioning itself to become one of the key players in the resurging global coal market, a move that could ultimately unlock significant shareholder value in the future.

Alpha Metallurgical Resources, Inc. (NYSE: AMR) needs no introduction to most energy investors based on the fact that it is one of the largest coal stocks globally. The Tennessee-based miner, whose operations are mainly concentrated in Tennessee, boasts high-quality reserves and specializes in supplying metallurgical products to the steel industry. Its portfolio also includes highly productive and cost-competitive coal mines across the Central Appalachian coal basin.

The company is America's largest producer of coking coal, producing about 20% of total 2022 production. In FY2022, Alpha Metallurgical produced 16.1 million tons of coal and had over 300 million tons of reserves. Roughly 70% of the company's coal output is exported, which ties in well with the fact that it owns 65% of the DTA (Dominion Terminal Associates) export terminal, which is capable of loading up to 6,500 tons per year.

AMR recently reported its third-quarter earnings, which had a number of interesting highlights. Although the company reported an adjusted EBITDA of $154 million, down from $258 million in the second quarter, it achieved a significant milestone by closing its last remaining thermal mine, Slabcamp, making it a pure-play metallurgical producer. The company also continued its share buyback program in a bid to further increase shareholder value. Since January 2022, AMR has bought back 28% of its stock, making it one of the most aggressive buyback programs on the market across all sectors and industries. Going forward, the company has increased its share repurchase program authorization by $300 million to a total of $1.5 billion, allowing for approximately $560 million in additional repurchases.

Looking ahead to 2024, the company provided guidance, anticipating shipping between 15.5 and 16.5 million tons of metallurgical coal.

Alabama-based Warrior Met Coal, Inc. (NYSE: HCC) is a metallurgical coal producer with a strong focus on export sales. It has two active mines that have the capacity to produce 8 million short tons of metallurgical coal per year. Warrior also has the Blue Creek development project, which produces coal with low sulfur and strong coking properties similar to its premium hard-coking coal produced in Australia. While the company is already a highly profitable coal producer, the Blue Creek mine will be a major catalyst for the company once it is fully developed.

Warrior recently reported third quarter earnings, revealing it had sold approximately 2.3 million short tons of metallurgical coal, a significant year-over-year increase on the backdrop of better rail and terminal availability. This brought in about $417 million in revenue for the quarter, which translated to a pre-tax income of $102 million and a net profit in excess of $85 million for an EPS of $1.64 per share.

The company's balance sheet remained robust as it generated $456 million in cash flow, closing the quarter with roughly $687 million in cash. That means that the anticipated $350 million capex to be spent on Blue Creek this year should be fully covered by the company's cash. Warrior Met Coal will have deployed almost $500 million on the development of Blue Creek by the end of the year, which should put it on track for initial production by then.

The company revised its capex guidance upwards to $820–830 million to include the development of Blue Creek's longwall section in order to boost the production rate to 9.6 million short tons per year, which should be reached by the end of 2026.

Colonial Coal International Corp. (TSX-V: CAD) is a pure-play metallurgical coal developer with a 100% interest in two resource-stage coal properties in the Peace River Coalfield of northeastern British Columbia, Canada: namely, the Huguenot and Flatbed properties. The Huguenot property boasts 189 million metric tons of combined measured and indicated resources, plus 194 million metric tons of inferred resources of hard coking coal, while about 298 million metric tons of inferred metallurgical coal resources have been delineated at Flatbed. In the company's recent annual general meeting held in December, a number of key decisions were made, including:

The re-election of David Austin, Ian Downie, Anthony Hammond, John Perry, Gregory Waller, and Partha S. Bhattacharyya as directors of the corporation for the year 2024.
PricewaterhouseCoopers LLP, Chartered Professional Accountants, were re-appointed as the company's auditor following board approval, and the directors were authorized to set the auditor's compensation.
Shareholders approved the continuation of the corporation's current share option plan.

Disclaimers:CapitalGainsReport (CGR) is not operated by a licensed broker, a dealer, or a registered investment adviser. This content is for informational purposes only and is not intended to be investment advice. The Private Securities Litigation Reform Act of 1995 provides investors a safe harbor in regard to forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performance are not statements of historical fact may be forward looking statements. Forward looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through use of words such as projects, foresee, expects, will, anticipates, estimates, believes, understands, or that by statements indicating certain actions & quote; may, could, or might occur. Understand there is no guarantee past performance will be indicative of future results. Investing in micro-cap and growth securities is highly speculative and carries an extremely high degree of risk. It is possible that an investors investment may be lost or impaired due to the speculative nature of the companies profiled. CapitalGainsReport (CGR) is owned by RazorPitch Inc. and has been retained by Benjamin Hill Mining Corp. to assist in the production and distribution of content related to BNN. ‘CGR' is responsible for the production and distribution of this content. It should be expressly understood that under no circumstances does any information published herein represent a recommendation to buy or sell a security. This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained in this article constitutes a solicitation, recommendation, endorsement, or offer by CapitalGainsReport/RazorPitch or any third party service provider to buy or sell any securities or other financial instruments. All content in this article is information of a general nature and does not address the circumstances of any particular individual or entity. Nothing in this article constitutes professional and/or financial advice, nor does any information in the article constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. CGR/RazorPitch is not a fiduciary by virtue of any persons use of or access to this content.

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Strategic Metals Announces Alotta Property Option

Strategic Metals Ltd. (TSXV:SMD) ("Strategic") is pleased to announce that it has entered into a property option agreement with Benjamin Hill Mining Corp. (CSE:BNN)(OTCQB:BNNHF) ("Benjamin") under which Benjamin can acquire a 60% interest in the Alotta project, located in the Whitehorse Mining District, Yukon Territory

The Alotta project hosts an un-drilled porphyry prospect that is situated in a similar geological setting and in close proximity to Western Copper and Gold's Casino Deposit. Alotta is marked by a pronounced magnetic low that coincides with a strong, multi-element soil geochemical anomaly. The core of the geochemical anomaly is enriched in copper, gold and molybdenum and measures 4 km by 1 km. It is surrounded by a distal halo with high lead, zinc and silver values. The Alotta soil geochemical signature exhibits classical features commonly associated with large porphyry deposits. The property is permitted for advanced exploration and only requires an induced polarization survey prior to drill testing.

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Element79 Gold Corp Provides Update on Chachas Community Charter and Revenue Generation, M&A Activities

(TheNewswire)

Vancouver, BC June 25, 2024 Element79 Gold Corp (CSE: ELEM, OTC: ELMGF, FSE: 7YS0), Hereinafter ("Element 79 Gold", the "Company") a mining company focused on gold and silver committed to maximizing shareholder value through responsible mining practices and sustainable development of its projects, is excited to provide the following updates about the social and business engagement in Chachas as well as highlight additional revenue-generating business underway.

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Silver Crown Royalties Goes Public on Cboe Canada

Cboe Canada Inc. ("Cboe Canada") is excited to announce the public markets debut of Silver Crown Royalties Inc. ("Silver Crown" or "SCRI"), a revenue-generating silver-only royalty company headquartered in Toronto. The company is now trading on Cboe Canada under the symbol SCRI .

Silver Crown unlocks previously unrecognized value by offering existing mining companies an up-front payment in exchange for the rights to revenues generated from the byproduct silver they mine. Silver Crown currently receives royalties from two mines, with another projected to begin producing revenues for Silver Crown in 2025, pending successful closing of the definitive agreement.

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PROSPECT RIDGE ANNOUNCES FINAL CLOSING OF ITS OVERSUBSCRIBED PRIVATE PLACEMENT

Prospect Ridge Resources Corp. (the " Company " or " Prospect Ridge ") (CSE: PRR) (OTC: PRRSF) (FRA: OED) is pleased to announce that it has closed the final tranche of its non-brokered private placement of $0.16 units (" NFT Units ") and $0.18 flow-through units (" FT Units ") announced May 29, 2024 and June 14, 2024 respectively, (see news releases for details). The final tranche consists of 2,912,500 NFT Units for gross proceeds of $466,000 plus an additional 7,717,441 FT Units for gross proceeds of $1,389,139.38 .

In total, the Company has raised aggregate gross proceeds of $5,218,847.24 , comprised of $2,860,520 in NFT Units plus an additional $2,358,327.24 in FT Units.

CEO Mike Iverson commented, "We are incredibly grateful to everyone who has supported us during this financing round. Your trust and confidence in Prospect Ridge Resources is deeply appreciated. We look forward to delivering on our promises and working diligently to create value for all our shareholders. Your belief in our vision fuels our commitment to achieving significant results during our upcoming drill program."

In connection with the final tranche, the Company paid aggregate finder fees of $100,801.38 in cash, 73,062 finder warrants having the same terms as the NFT Unit warrants (exercisable at $0.25 ) and 495,063 finder warrants having the same terms as the FT Unit warrants (exercisable at $0.30 ). All securities issued in the final tranche are subject to a statutory hold period expiring on November 25, 2024 . The final tranche and associated finder fees are subject to final Exchange acceptance.

Insiders of the Company purchased an aggregate of 312,500 NFT Units ($50,000) and 27,777 FT Units ($4,999.86) , representing approximately 10.7% and 0.36%, respectively, of the NFT Units and FT Units issued in the final tranche. The common shares so acquired by insiders represent approximately 0.41% of the issued and outstanding common shares upon closing, and together with the common shares issuable on exercise of the warrants so acquired by insiders would constitute an aggregate number of common shares representing approximately 0.61% of the then issued and outstanding shares as of closing.

The participation by insiders constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying upon the exemptions from the formal valuation and minority shareholder approval requirements pursuant to sections 5.5(a) and (b), and 5.7(1)(a), respectively, of MI 61-101 on the basis that neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the transaction insofar as it involves interested parties (within the meaning of MI 61-101) in the transaction exceeds 25% of the Company's market capitalization as calculated in accordance with MI 61-101, and/or on the basis that no securities of the Company are listed or quoted on a stock exchange as specified in MI 61-101.

Use of Proceeds of the Offering

The gross proceeds of the NFT Placement will be used to fund exploration expenditures on the Knauss Creek Property and Holy Grail Property (the " Properties "), corporate development and general working capital, while the gross proceeds of the FT Placement will be used to fund exploration expenditures on the Properties and other Canadian Exploration Expenses that will qualify as "flow-through mining expenditures" as defined in subsection 127(9) of the Income Tax Act ( Canada ), and "BC flow-through mining expenditures", as defined in the Income Tax Act ( British Columbia ).

About Prospect Ridge Resources Corp.

Prospect Ridge Resources Corp. is a British Columbia based exploration and development company focused on gold exploration. Prospect Ridge's management and technical team cumulate over 100 years of mineral exploration experience and believes the Knauss Creek and the Holy Grail properties to have the potential to extend the boundaries of the Golden Triangle to cover this vast under-explored region.

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

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as " intends " or " anticipates" , or variations of such words and phrases or statements that certain actions, events or results " may", " could ", " should ", " would " or " occur " . This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, positive exploration results at the Knauss Creek and Holy Grail projects and the Company's use of proceeds from the Private Placement. These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, that future exploration results at the Knauss Creek and Holy Grail projects will not be as anticipated and that the Company will use the proceeds from the Private Placement as anticipated.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that future exploration results at the Knauss Creek and Holy Grail projects will be as anticipated and that the Company will use the proceeds from the Private Placement as anticipated.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

View original content to download multimedia: https://www.prnewswire.com/news-releases/prospect-ridge-announces-final-closing-of-its-oversubscribed-private-placement-302206337.html

SOURCE Prospect Ridge Resources Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2024/25/c3787.html

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Horizon Minerals Limited Group Mineral Resources Statement

Perth, Australia (ABN Newswire) - Horizon Minerals Limited (ASX:HRZ) is pleased to provide an updated Mineral Resource Statement for the Company's gold projects located near Kalgoorlie-Boulder in the heart of the Western Australian goldfields (Figure 1*). In addition, following the merger with Greenstone Resources, the Company has also added the Burbanks, Phillips Find and 50% owned Mt Thirsty projects to the Company's resources.

Following the successful completion of the merger between Horizon Minerals Limited and Greenstone Resources Limited (formerly ASX-GSR), additional resource model work and reviews, the Company is pleased to provide a consolidated statement of group Mineral Resources as of 30 June 2024.

HIGHLIGHTS

- Mineral Resources currently stand at:

o 1.8Moz gold
o 20.2Moz silver, 104kt zinc
o 283kt nickel, 40.5kt cobalt and 296.2kt manganese (50% owned)

- Mineral Resources are underpinned by the large cornerstone Boorara and Burbanks assets

- Updated Mineral Resource Estimates (MRE) include a maiden MRE for Pinner, an update for Monument and a revision for Boorara which is currently under an Ore Reserve Study (ORS) from AMC Consultants

- Changes to the gold MREs include:

o Addition of 297,650oz from Burbanks open pit
o Addition of 167,920oz from Burbanks underground
o Addition of 13,000oz from Pinner
o Addition of 3,000oz from Monument, and
o Reduction of 20,240oz from Boorara

- Large Mineral Resource base and ongoing studies pave the way for a development profile aiming at sustained gold production and continuous cashflows

Commenting on the Group MRE upgrade, Managing Director and CEO Mr Grant Haywood said:

"It is very pleasing to have the Burbanks and Phillips Find assets under single ownership with Horizon's complementary and extensive project base. Together this provides 1.8 million ounce gold portfolio, which is a great platform to implement our near term strategy of cashflow from operations and further growth into the medium and long term".

The gold MREs include an updated Monument MRE and a maiden MRE for Pinner, both part of the larger Cannon project area, and a review of the cornerstone Boorara project. A summary of the revised MREs are as follows:

- Monument 740,000t grading 1.18g/t Au for 28,000oz at a 0.5g/t Au cut-off grade

- Pinner 330,000t grading 1.21g/t Au for 12,844oz at a 0.5g/t Au cut-off grade

- Boorara 10.53Mt grading at 1.27g/t Au for 428,000oz at a 0.5g/t Au cut-off grade

Cannon, Monument and Pinner Project Overview

The Cannon deposit (Figure 1*) is located 30 km east-southeast of Kalgoorlie in the Eastern Goldfields region of Western Australia on granted mining leases M25/333 and M25/357. The Cannon mine and surrounding area is dominated by mafic to ultramafic rocks of the Bulong Complex overlain by a sequence of felsic volcanics, volcaniclastics and sediments. Lithologies present include komatiitic mafics and ultramafics, peridotites, basalts and gabbros. Sedimentary rocks include shales and cherts with rare, banded iron formation. The geological structure is complex and dominated by the Cannon shear which is recognised as a key ingredient for local gold and possibly nickel sulphide mineralisation.

The gold mineralisation at the adjacent Pinner deposit is similar to Cannon and consists small pods of semi-continuous mineralisation with three dominant directions that highlight the structural complexity observed at Pinner. The dominant lodes trend SW/NE, N/S, and E/W with cross cutting faults influencing the geometry.

Gold mineralisation within the Monument deposit consists of two main zones oriented NNW and NW, dipping steeply to the west. There is some indication of faulting through the centre of the mineralised area.

Boorara Overview

The Boorara Gold Project is located 15 km east of Kalgoorlie-Boulder (Figure 1*) adjacent to the Super Pit, and 1 km southwest of the Nimbus Silver-Zinc Project site where established offices are connected to mains power and existing water supplies.

The deposit is hosted in a quartz dolerite comprising a sheeted quartz vein array system with bounding shear zones and late-stage cross faults. Mineralisation occurs as northwest dipping sheeted and stockwork quartz-carbonate vein arrays within the quartz dolerite host rocks, and steeply dipping zones along sheared geological contacts trending to the north-northwest.

*To view tables and figures with updated mineral estimates, please visit:
https://abnnewswire.net/lnk/181JSBZ2

About Horizon Minerals Limited:

Horizon Minerals Limited (ASX:HRZ) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia's richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal gold mine has been recently completed.

Horizon is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.

Horizon has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE's, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.

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Rio Silver Completes Agreement with Local Community at Jorimina Project, Peru

Rio Silver Inc. ("Rio Silver" or the "Company") (TSX.V: RYO) is pleased to announce it has finalized a surface access agreement ("the Agreement") with the local Community for a period of one year at the Company's Jorimina Project, an advanced goldsilver project near the city of Ayachucho in south central Peru.

A recently completed Environmental Impact Study and community workshops aided by the President and Council of the local community, represent the final steps of the drill permitting application process and allow for the initiation of activities at this highly prospective, bulk tonnage gold and silver target located at the Company's wholly owned, Jorimina, Gold / Silver Project.

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Coal Stocks On The Rise As Demand For Steel Soars In 2024

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