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TORONTO, Sept. 18, 2024
TSXV:TBLL
TORONTO, Sept. 18, 2024 /CNW/ - (TSXV: TBLL) Tombill Mines Limited (the "Company" or "Tombill"), granted options (the "Stock Options") to purchase an aggregate of 5,400,000 common shares of the Company (the "Shares") to certain directors, officers and consultants. The Stock Options are exercisable at a price of $0.05 per Share, expiring five years from the date of grant.
10% of the Stock Options vest immediately, 15% of the Stock Options vest on first anniversary of the Grant Date, 33% of the Stock Options vest on second anniversary of the Grant Date and 42% of the Stock Options vest on the third anniversary of the Grant Date.
The aforementioned issuance of Stock Options resulted in certain directors and officers of the Company receiving an aggregate of 5,150,000 Stock Options of the Company. The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"), contained in section 5.5(b) and 5.7(a) of MI 61-101 in respect of such insider participation.
The Stock Options described above and the Shares underlying the Stock Options are subject to a four-month and one day hold period from the date of grant in accordance with applicable Canadian securities laws.
About Tombill
Founded 1935, by Newmont Mining and prospectors' 'Tom' and 'Bill' Johnson, Tombill (TSX-V: TBLL) owns 2 of the 11 current plus past-producing mines in the Geraldton gold district, 4 claim groups, of which 3 are situated in the Geraldton gold district of north-central Ontario (about 225 km NE of Thunder Bay). Our Main Group patents borders on the Greenstone Mine, which according to Equinox will be Canada's 3rd largest gold mine by annual production and its highest grading open pit mine. Holdings comprise 74 royalty-free mining claims (60 fully owned patented claims, 5 leases, 9 mineral rights only). The Tombill Gold Mine produced 68,737 high-grade gold oz between 1938 and 1942 in the southeast corner of those patented group. The Talmora Longlac Mine, located in the northeast of the Main Group property, was built in 1941, but saw only minor production before closing in 1942 (1,406 gold oz).
Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Tombill Mines Limited
Keywords: TOMBILL-Options
** Gold miners rise, tracking higher prices of the precious metal
** Spot gold =XAU jumps to a record high of $2,591/ounce as dollar retreats after Federal reserve cuts interest rates by 50 basis points GOL/
** Top gold miners rise; Newmont NEM.N rises 2.9% and Canada's Barrick Gold ABX.TO up 1.6%
** U.S.-listed shares of South African miners AngloGold Ashanti AU.N, Gold Fields GFI.N, Harmony Gold Mining HMY.N and Sibanye Stillwater SBSW.N up between 1.5% and 4.5%
** Canadian miners Agnico Eagle Mines AEM.TO, Franco-Nevada FNV.TO and Kinross gold K.TO rise between 2.1% and 2.5%
(Reporting by Sourasis Bose in Bengaluru)
Investors are on edge in the lead-up to the Wednesday Federal Open Market Committee interest rate decision that is expected to deliver the first cut to the federal funds rate in over four years.
The market is divided on the magnitude of the anticipated rate cut. Traders are assigning a 59% probability to a 50-basis-point cut, while a 41% chance is placed on a more modest 25-basis-point reduction. The size of the rate cut is crucial as it could trigger significant market reactions.
Should the Fed opt for a 50-basis-point cut, it may be perceived as an acknowledgment that interest rates are overly restrictive. This could lead to increased expectations for further rate cuts in the coming months, potentially fueling risk sentiment and driving stock prices higher.
Conversely, a 25-basis-point cut might disappoint investors who are betting on a more aggressive measure.
Since the start of 2022, the S&P 500, tracked by the SPDR S&P 500 ETF Trust , has experienced an average move of plus or minus 1.3% during FOMC events, reflecting the market’s high sensitivity to Fed policy decisions.
Goldman Sachs equity analysts, including John Marshall, analyzed stock movements during the first rate cuts in the previous three Fed easing cycles (Sept. 18, 2007, July 31, 2019 and March 3, 2020).
The data highlights the average moves of several key S&P 500 stocks with liquid options during these periods.
Read Next:
Federal Reserve illustration created using artificial intelligence via MidJourney.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
This year has been a record breaker for gold, as the safe-haven metal has surged to all-time highs on the back of heavy central bank buying, sticky inflation, and persistently elevated geopolitical tensions. Spot gold prices are up 24.5% on a year to date basis, with the popular currency hedge outperforming both the S&P 500 Index (+18.1% YTD) and the Nasdaq Composite ($NASX) (+17.4% YTD). Most recently, December gold futures (GCZ24), the most active contract, set a new high as recently as Monday's session, peaking north of $2,617 per ounce.
While Vice President Kamala Harris and former POTUS Donald Trump have stayed close in presidential polls, analysts at Saxo Bank recently noted that gold should come out as a winner no matter who takes this November's election. “Either administration would inevitably expand the deficit in an economic slowdown,” wrote the firm's Head of Commodity Strategy Ole Hansen. "It doesn’t appear either party is set to deliver on fiscal austerity, which raises inflation risks, a gold positive."
ETF issuer Global X agrees that higher gold prices are likely to continue, "potentially supported by likely Federal Reserve interest rate cuts, the possibility of a ‘higher for longer’ inflationary environment, and recently robust physical market demand,” and adds that it sees likelihood of particular upside for gold miners, given the group's attractive valuations.
For investors who might be looking to add broad exposure to gold miners or participate in rising gold prices more directly, here are three popular gold ETFs that could rise alongside the precious metal.
1. SPDR Gold Shares (GLD)
Established in 2004 as a trust that holds physical bullion, SPDR Gold Shares is the world's largest physically backed gold ETF, with assets under management (AUM) of about $72.3 billion. The ETF holds physical gold bars and issues shares representing those holdings. The price of GLD shares is designed to track the price of gold bullion, minus the ETF's expenses. State Street Global Advisors acts as the trustee of the SPDR Gold Shares.
Up 24.2% on a YTD basis, GLD has an expense ratio of 0.40%. Its average daily share volume is close to 6 million, making it extremely liquid.
Notably, for investors who want to play gold via options, GLD is a strong choice; the fund's calls and puts are actively traded, with weekly expiration dates available.
2. ProShares Ultra Gold 2X ETF (UGL)
Founded in 2009, the ProShares Ultra Gold 2X ETF is a leveraged ETF designed to provide investors with twice the daily return (or loss) of the gold price, as measured by the Bloomberg Gold Subindex. This means that UGL aims to deliver a 2x daily return on gold's price movement. The fund's AUM currently stands at $315.15 million.
Shares of the ETF are up 43.6% on a YTD basis, with an expense ratio of 0.95%. UGL's average daily share volume is around 170,000, though options volume on the fund is very light.
As is typical with most leveraged ETFs, ProShares warns that the targeted leverage goals of the fund may deviate significantly beyond holding periods longer than one day. However, for investors seeking amplified gains who don't mind the heightened risk (and fees), UGL could be worth considering.
3. VanEck Gold Miners ETF (GDX)
We conclude our list of gold ETFs with the VanEck Gold Miners ETF , the third-largest gold ETF in the country with an AUM of $15.2 billion. GDX seeks to track the performance of the NYSE Arca Gold Miners Index, which is composed of companies involved in gold mining and exploration. By investing in this ETF, investors can gain exposure to the gold mining industry without having to invest directly in individual mining companies.
GDX is up 27.4% on a YTD basis. It also has healthy liquidity, with an average daily volume of about 17 million shares. The fund also has a fairly active options market, including weekly expiration dates.
GDX offers a dividend yield of 1.25%, and carries an expense ratio of 0.51%.
The fund's top three holdings consist of Newmont Mining (15.27%), Agnico-Eagle Mines (10.21%), and Barrick Gold (9.05%).
On the date of publication, Pathikrit Bose did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
Newmont Corporation (NEM) closed the most recent trading day at $53.11, moving -0.04% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 0.03%. Meanwhile, the Dow experienced a drop of 0.04%, and the technology-dominated Nasdaq saw an increase of 0.2%.
The gold and copper miner's stock has climbed by 3.79% in the past month, exceeding the Basic Materials sector's gain of 1.37% and the S&P 500's gain of 1.54%.
The investment community will be paying close attention to the earnings performance of Newmont Corporation in its upcoming release. The company's earnings per share (EPS) are projected to be $0.71, reflecting a 97.22% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $4.07 billion, up 63.44% from the prior-year quarter.
NEM's full-year Zacks Consensus Estimates are calling for earnings of $2.82 per share and revenue of $17.39 billion. These results would represent year-over-year changes of +75.16% and +47.26%, respectively.
It is also important to note the recent changes to analyst estimates for Newmont Corporation. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.06% lower within the past month. Currently, Newmont Corporation is carrying a Zacks Rank of #3 (Hold).
Looking at valuation, Newmont Corporation is presently trading at a Forward P/E ratio of 18.85. This signifies a premium in comparison to the average Forward P/E of 16.86 for its industry.
Also, we should mention that NEM has a PEG ratio of 0.47. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Mining - Gold industry had an average PEG ratio of 0.8.
The Mining - Gold industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 137, this industry ranks in the bottom 46% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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