Point Roberts, WA and Delta, BC - February 4, 2020 (Investorideas.com Newswire) Investorideas.com, a global investor news source covering mining and metals stocks releases today's edition of Exploring Mining Podcast, featuring stock news from TSX, TSXV ,CSE, ASX, NASDAQ, NYSE companies plus interviews with CEO's and leading experts.
Listen to the podcast:Exploring Mining Podcast: News from (NYSE: AA) (NYSE: ATI) (TSX: MIN) (TSXV: LITH)
Alcoa Corporation (NYSE:AA) has completed the sale of its wholly-owned subsidiary, Elemental Environmental Solutions LLC (EES), which "operates a 1,300-acre hazardous waste treatment business in Gum Springs, Arkansas." The buyer is to Veolia ES Technical Solutions, LLC (VTS). According to the press release, the sale "is part of the Company's plan to pursue sales of non-core assets with the goal of generating between $500 million to $1 billion in cash."
Perhaps as a consequence of this news, Alcoa stock is up about 3.5 percent at press time.
Allegheny Technologies Incorporated (NYSE:ATI) has reported its fourth quarter results for 2019, boasting "sales of $1.02 billion and net income attributable to ATI of $56.5 million, or $0.41 per share." Another quarterly highlight outlined in the report is the "$491 million of cash on hand at year-end after reducing debt by $150 million." Though quarterly sales are down some two percent from 2018, full year sales of $4.12 billion are actually up two percent over 2018. Robert S. Wetherbee, ATI President and CEO, commented:
"The team executed well in the fourth quarter, delivering solid results in both operating segments, and successfully capping a challenging year buffeted by industry, supply chain and regulatory headwinds."
Allegheny's stock is up around nine percent at press time, following the release of these results.
- Improved preventative maintenance to limit pump and wellfield down-time; and
- Injection wells will be retrofitted with pumps allowing them to be used as recovery wells when needed; and
- Wellheads and related piping are to be reconfigured to allow for both injection and recovery operations in each well, this addition will make the wellfield entirely reversable in terms of fluid flow; thereby allowing for greater flexibility during operations.
Excelsior President & CEO, Stephen Twyerould, commented:
"Our initial copper recoveries are highly encouraging; and the implementation of these improvement programs keeps us focused on achieving long-term, low-cost copper production as soon as possible."
Despite these developments, Excelsior stock is actually down about nine percent at press time. This may be related to the downtrend in copper price witnessed in the few weeks. According to data from Markets Insider, copper went from trading at $6,300/tonne on January 16, 2020 to a current price of $5,616/tonne.
Lithium Chile Inc. (TSXV:LITH) has completed drilling of the first target on its Turi prospect with samples having been sent to ALS laboratory for analysis. The company has shut down its rig while it waits for results to come back. Additionally, the company has revealed "results from a recently concluded program of re-analysis of surface salt rich, silt and clay samples from the Company's Laguna Blanca prospect have returned unusually high assays for Rare Earth Elements, especially Cesium." Lithium Chile President and CEO, Steve Cochrane, commented:
"The presence of Cesium on our Laguna Blanca prospect adds another potentially valuable mineral in addition to interesting lithium values. We continue to build a portfolio with diverse opportunities over a range of elements."
At press time, Lithium Chile stock is enjoying growth of about 9.5 percent.
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