TORONTO, Feb. 04, 2025 (GLOBE NEWSWIRE) — McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is providing minor corrections to yesterday’s press release. Please note that the resource statements remain unchanged. The corrections are related to Table 2 numbers, specifically the percentage differences between 2021 and December 2024. In addition, the price of gold used in 2021 was $1,725, not $1,750 (in the third paragraph) and the recovery rate for 2021 was 85%, not 90% (in the Footnotes to Tables 1-3).

McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is pleased to report a significant increase in the estimated gold (Au) resources at the Fox Complex’s Grey Fox deposit to December 31^st, 2024, compared to the last estimate in the 2021 Fox Complex PEA (refer to Table 1). The discovery cost of this increase was US $14.46 per ounce (oz). The deposit itself is subdivided into six different zones: Contact, 147, 147 NE, Grey Fox South (GFS), Gibson & Whiskey-Jack (WJ), shown as yellow stars in Figure 1. An intriguing historic public government record reports that a bulk sample of 8,000 tonnes taken in 1989 from the Gibson zone ramp yielded an average grade in excess of 27 g/t gold. Mineralization at Grey Fox is in close proximity to the highly prolific Porcupine-Destor fault, which historically has been associated with the production of some 110 million ounces of gold. A complete update of the mineral resources at the Fox Complex will be published in the coming weeks.

The increase in resources at Grey Fox can be attributed to a number of factors: exploration drilling discovering and extending new and existing gold lenses; a higher gold price used to calculate the resource, from US$1,725, used in 2021 to US$2,000 today that allowed for a lower cut-off grade, from 2.30 g/t Au to 1.60 g/t Au, which also benefited from foreign exchange rates, used in the evaluation of potential underground mining scenario shapes.

Rob McEwen, Chairman and Chief Owner, said, “Our investment in exploration on the Fox Complex properties has successfully expanded our gold resources, which will enable us to both increase annual production and extend the mine life. Grey Fox is one of several exploration targets contributing to the growth of gold resources and enhancing the future production at our Fox Complex.”

Table 1. Grey Fox Mineral Resource Update as of December 31^st, 2024

The Grey Fox deposit is located approximately 3 kilometers South-East of McEwen Mining’s Black Fox Mine and about 75 kilometers East of Timmins, Ontario, Canada (see Figure 1). The geology of the Fox Complex shown in Figure 1 is highly favourable for structurally controlled gold mineralization principally due its proximity to the world-class Porcupine-Destor Fault Zone and subordinate splay faults such as the A-1 and Gibson-Kelore. In addition, there is a large intrusive porphyry (syenite) body at Grey Fox which could also have been a ‘heat-engine’ for much of the gold mineralization. Current geological modeling of Grey Fox by McEwen Mining indicates the presence of over 150 distinct mineralized lenses in an area of about 1.4 square kilometers, with many of the lenses extending to the bedrock surface. The high concentration of lenses in such a compact area may indicate a robust mineralized system at Grey Fox. This is especially evidenced at the Gibson zone, where our drilling has confirmed mineralization from near surface (<25 m) down to vertical depths exceeding 800 m. In addition, the majority of these mineralized lenses remain open at depth.

Figure 1. Plan View Map of the Eastern Fox Complex

Referring to Table 2 below it can be seen that the 2024 resource update resulted in an increase (compared to the 2021 PEA) in contained gold for the zones, for both the Indicated and Inferred categories, except for a slight decrease in Indicated at the South Zone. Of particular interest are the increases at Gibson because of the historical Gibson Ramp which, when recommissioned, could provide access for early production ounces from Grey Fox. Gibson’s Indicated resource increased 109% from 139,000 oz to 290,000 oz gold and its Inferred resource increased 96% from 125,000 oz to 245,000 oz gold.

Table 2. Comparison by Zone Between the 2021 PEA Resource and the December 31^st, 2024 Resource Update

Also noteworthy to mention is that the resource for the Whiskey-Jack (WJ) zone is categorized as 97% Indicated mineralization with 116,000 oz gold at a grade of 5.7 g/t Au. The WJ zone possesses the greatest average true widths (5 to 7 meters) and the highest grade of any zone at Grey Fox. This zone is situated only 350 meters away from the entrance to the Gibson Ramp (see Press Release dated December 2^nd, 2024) and if this ramp is used, WJ could also be a potential early mining horizon at Grey Fox.

The discovery cost per ounce of gold (since the 2021 PEA resource estimate) was US $14.46. This low cost is principally due to intercepting multiple lenses of mineralization, often with a single drillhole, and to the Exploration team’s optimized drill programs, which resulted from continued improvements to the geological understanding of the Grey Fox deposit.

Table 3 provides a comparison of the 2021 PEA resource estimate with the December 31^st, 2024 resource update. The decrease in grade reflects the lower cut-off used in the calculation of mineral resources using potential underground mining scenario shapes due to an increase in the gold price used, which has risen from US$ 1,725/oz Au to US$ 2,000/oz Au. This is more than offset by the extension of existing lenses and the discovery of new ones, adding new tonnes and ounces to the resource.

Table 3. Comparison of the 2021 PEA Resource Estimate to the Year-End 2024 Resource Estimate

Technical Information

Technical information pertaining to the Fox Complex exploration contained in this news release has been prepared under the supervision of Sean Farrell, P.Geo., Exploration Manager, who is a Qualified Person as defined by Canadian Securities Administrators National Instrument 43-101 “Standards of Disclosure for Mineral Projects.”

The technical information related to resource and reserve estimates in this news release has been reviewed and approved by Luke Willis, P.Geo., McEwen Mining’s Director of Resource Modelling and is a Qualified Person as defined by SEC S-K 1300 and Canadian Securities Administrators National Instrument 43-101 “Standards of Disclosure for Mineral Projects.”

Footnotes to Tables 1-3

• Mineral resources are not mineral reserves and do not have demonstrated economic viability.
• All figures are rounded to reflect the relative accuracy of the estimates.
• Composites were capped where appropriate.
• Historical mineral resources stated for the 2021 PEA are reported at a cut-off grade of 2.30 g/t gold, assuming an underground extraction scenario, a gold price of US $1,725 per ounce, and a metallurgical recovery of 85 percent.
• Updated mineral resources for December 2024 are reported at a cut-off grade of 1.60 g/t gold, assuming an underground extraction scenario, a gold price of US $2,000 per ounce, and a metallurgical recovery of 90 percent.

CONCERNING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements and information, including “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements and information expressed, as at the date of this news release, McEwen Mining Inc.’s (the “Company”) estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, risks and contingencies, and there can be no assurance that such statements and information will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements and information. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements and information include, but are not limited to, fluctuations in the market price of precious metals, mining industry risks, political, economic, social and security risks associated with foreign operations, the ability of the Company to receive or receive in a timely manner permits or other approvals required in connection with operations, risks associated with the construction of mining operations and commencement of production and the projected costs thereof, risks related to litigation, the state of the capital markets, environmental risks and hazards, uncertainty as to calculation of mineral resources and reserves, foreign exchange volatility, foreign exchange controls, foreign currency risk, and other risks. Readers should not place undue reliance on forward-looking statements or information included herein, which speak only as of the date hereof. The Company undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See McEwen Mining’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, Quarterly Report on Form 10-Q for the three months ended March 31, 2024, June 30, 2024, and September 30, 2024, and other filings with the Securities and Exchange Commission, under the caption “Risk Factors”, for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information regarding the Company. All forward-looking statements and information made in this news release are qualified by this cautionary statement.

The NYSE and TSX have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by the management of McEwen Mining Inc.

ABOUT MCEWEN MINING

McEwen Mining Inc. is a gold and silver producer with operations in Nevada (USA), Canada, Mexico, and Argentina. The company also owns 46.4% of McEwen Copper, which develops the large, advanced-stage Los Azules copper project. Los Azules aims to become Argentina’s first regenerative copper mine and is committed to achieving carbon neutrality by 2038.

Focused on enhancing productivity and extending the life of its assets, the Company’s goal is to increase its share price and provide investor yield. Rob McEwen, Chairman and Chief Owner, has a personal investment in the companies of US$225 Million. His annual salary is US$1.

McEwen Mining’s shares are publicly traded on the New York Stock Exchange (NYSE) and the Toronto Stock Exchange (TSX) under the symbol “MUX”.

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“Quality of revenues over volumes: I believe this best explains our outstanding financial results in 2024, thanks to a strong product mix and a growing demand for personalizations. On these solid foundations, we expect further robust growth in 2025, that will allow us to reach one year in advance the high-end of most of our profitability targets for 2026” said Benedetto Vigna, CEO of Ferrari. “Last year’s results reflect a great teamwork that involved all our Company’s souls. This teamwork was also visible in a very competitive racing season. The will to progress that has always characterized Ferrari has led to innovation in our infrastructure, with the inauguration of the e-building; in our products, best highlighted by the new supercar, the Ferrari F80; and in R&D, with the new E-Cells Lab that will further strengthen our electrochemical knowledge to prepare us for the future. And we will reveal more of our future on 9 October at our Capital Markets Day.”

Maranello (Italy), February 4, 2025 – Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) today announces its consolidated preliminary unaudited results⁽²⁾ for the fourth quarter and twelve months ended December 31, 2024.

Shipments⁽³⁾⁽⁴⁾

Shipments totaled 13,752 units in 2024, up 0.7% versus the prior year.

The geographic breakdown reflects the Company’s allocation strategy to preserve the brand’s exclusivity. In the year, EMEA was up 141 units, Americas increased by 192 units, Mainland China, Hong Kong and Taiwan decreased by 328 units and Rest of APAC increased by 84 units.

The increase in deliveries during the year was driven by the Ferrari Purosangue, the Roma Spider and the 296 GTS. Shipments of the SF90 XX family and 12Cilindri commenced in the second part of the year, while the deliveries of the 812 Competizione A decreased, approaching the end of lifecycle. Throughout the year, the Portofino M, the SF90 Stradale, the 812 GTS, the 812 Competizione and the Roma phased out. The shipments of the Daytona SP3 increased versus the prior year, in line with plans.

The products delivered in the year included ten internal combustion engine (ICE) models and six hybrid engine models, which represented 49% and 51% of total shipments, respectively.

Total net revenues

Net revenues for 2024 were Euro 6,677 million, up 11.8% or 13.4% at constant currency⁽¹⁾.

Revenues from Cars and spare parts were Euro 5,728 million (up 11.9% or 13.7% at constant currency), thanks to a richer product and country mix as well as increased personalizations.

Sponsorship, commercial and brand revenues reached Euro 670 million, up 17.1% or 17.6% at constant currency mainly attributable to new sponsorships and lifestyle activities.

Other was flat, with higher revenues from financial services, offset by the decreased contribution from the Maserati contract, which expired in 2023.

Currency – including translation and transaction impacts as well as foreign currency hedges – had a negative net impact of Euro 85 million, mostly related to the US Dollar, Japanese Yen and Chinese Yuan.

EBITDA and Operating profit (EBIT)

2024 EBITDA reached Euro 2,555 million, up 12.1% versus the prior year and with an EBITDA margin of 38.3%.

2024 Operating profit (EBIT) was Euro 1,888 million, increased 16.7% versus the prior year and with an Operating profit (EBIT) margin of 28.3%.

The Mix / price variance performance was very strong and positive for Euro 386 million, mainly reflecting the enrichment of the product mix, sustained by the deliveries of the Daytona SP3 and a few units of the 499P Modificata, increased personalizations and the positive country mix driven by Americas.

Industrial costs / research and development expenses increased Euro 19 million, primarily due to higher racing and innovation expenses, partially offset by lower depreciation and amortization, in line with the phase out of certain models.

SG&A grew Euro 92 million mainly reflecting the continuous initiatives for software, digital infrastructure and organizational development, as well as brand investments.

Other changes were positive for Euro 71 million, mainly thanks to new sponsorships and lifestyle activities, partially offset by higher costs due to the better 2024 Formula 1 season ranking.

Net financial income in the year was Euro 1 million, compared to net financial charges of Euro 15 million of the prior year, primarily driven by positive net foreign exchange impact and higher interest on the Group’s cash balance.

The effective tax rate⁽¹⁰⁾ in the year was 19.2%, mainly reflecting the estimate of the benefit attributable to the Patent Box and tax incentives for eligible research and development costs and investments.

As a result, the Net profit for the year was Euro 1,526 million, up 21.3% versus the prior year, and the diluted earnings per share for the year reached Euro 8.46, compared to Euro 6.90 in 2023.

Industrial free cash flow in the year was very strong at Euro 1,027 million, driven by the increased EBITDA, partially offset by a negative change in working capital, provisions and other for Euro 100 million, capital expenditures⁽¹¹⁾ of Euro 989 million and taxes paid for Euro 400 million.

Net Industrial Debt⁽¹⁾ as of December 31, 2024 was Euro 180 million, compared to Euro 99 million as of December 31, 2023. This also reflected a total shareholders’ reward amounting to Euro 1,021 million, of which share repurchases accounted for Euro 581 million and dividends distribution⁽¹²⁾ for Euro 440 million, and substantially aligned with the industrial free cash flow generation of the year. As of December 31, 2024, total available liquidity was Euro 2,292 million (Euro 1,722 million as of December 31, 2023), including undrawn committed credit lines of Euro 550 million.

2025 guidance, based on the following assumptions for the year and the current custom duties framework:

• Positive product and country mix, along with strong personalizations
• Improved contribution from racing activities, reflecting higher sponsorships as well as commercial revenues linked to the better Formula 1 ranking achieved in 2024
• Lifestyle activities to expand its revenues growth rate, while investing to accelerate development and enlarge the network
• Continuous brand investments, higher racing and digital transformation expenses
• Increased costs implied by the ongoing supply chain challenges
• Higher effective tax rate in connection to the change of the Patent Box regime
• Robust Industrial free cash flow generation driven by strong profitability, partially offset by capital expenditures more contained versus prior year

Q4 2024 highlights:

•         On November 7, 2024 Ferrari announced that Ferrari S.p.A. has signed a multiyear partnership agreement with IBM. Under this agreement, effective from January 1, 2025, IBM is Premium Partner of Scuderia Ferrari and the Scuderia Ferrari Driver Academy.
• The fifth tranche of the multi-year share repurchase program was completed on November 26, 2024. Ferrari announced its intention to continue with a sixth tranche of up to Euro 150 million to be executed from December 6, 2024 and to end no later than February 20, 2025.
• On December 10, 2024 Ferrari N.V. announced a multi-year agreement starting from 2026 with Andretti Formula Racing LLC, regarding the supply of power units and gearboxes to the racing team led by TWG Global and General Motors, subject to Andretti Formula Racing LLC receiving written confirmation from the FIA – F1 that its entry to the 2026 FIA Formula One Championship has been accepted and approved.
• In December, Ferrari received the confirmation of the Equal-Salary Certification at global level for providing equal pay to men and women with the same qualifications and positions in the Company. In addition to that, Ferrari S.p.A. received the gender equality certification issued under Italian UNI/PDR 125:2022.

Subsequent events:

• Under the sixth tranche of the new multi-year common share repurchase program announced on September 30, 2022, from January 1, 2025 to January 31, 2025 the Company purchased 161,276 common shares for a total consideration of Euro 66.6 million. At January 31, 2025 the Company held in treasury an aggregate of 15,040,444 common shares equal to 5.85% of the total issued share capital including the common shares and the special voting shares, net of shares assigned under the Company’s equity incentive plan.

About Ferrari
Ferrari is one of the world’s leading luxury brands, encompassing racing, sports cars and lifestyle. In each of these three souls, the Prancing Horse is a symbol of exclusivity, innovation and cutting-edge performance. The brand’s heritage and global recognition are closely associated with its Formula 1 racing team, Scuderia Ferrari, the most successful in the sport’s history. Since the inaugural World Championship in 1950, Scuderia Ferrari has claimed 16 Constructors’ and 15 Drivers’ world titles. From its home in Maranello, Italy, Ferrari designs, engineers, and produces some of the world’s most iconic and recognisable luxury sports cars, sold in over 60 markets worldwide. In lifestyle, Ferrari designs and creates a selection of personal luxury goods, collectibles and experiences that embody the brand’s elevated style and passion.

Forward Looking Statements
This document, and in particular the section entitled “2025 Guidance”, contain forward-looking statements. These statements may include terms such as “may”, “will”, “expect”, “could”, “should”, “intend”, “estimate”, “anticipate”, “believe”, “remain”, “continue”, “on track”, “successful”, “grow”, “design”, “target”, “objective”, “goal”, “forecast”, “projection”, “outlook”, “prospects”, “plan”, “guidance” and similar expressions. Forward-looking statements are not guarantees of future performance. Rather, they are based on the Group’s current expectations and projections about future events and, by their nature, are subject to inherent risks and uncertainties. They relate to events and depend on circumstances that may or may not occur or exist in the future and, as such, undue reliance should not be placed on them. Actual results may differ materially from those expressed in such statements as a result of a variety of factors, including: the Group’s ability to preserve and enhance the value of the Ferrari brand; the Group’s ability to attract and retain qualified personnel; the success of the Group’s racing activities; the Group’s ability to keep up with advances in high performance car technology, to meet the challenges and costs of integrating advanced technologies, including electric, more broadly into its car portfolio over time and to make appealing designs for its new models; the impact of increasingly stringent fuel economy, emissions and safety standards, including the cost of compliance, and any required changes to its products, as well as possible future bans of combustion engine cars in cities and the potential advent of self-driving technology; increases in costs, disruptions of supply or shortages of components and raw materials; the Group’s ability to successfully carry out its low volume and controlled growth strategy, while increasing its presence in growth market countries; changes in general economic conditions (including changes in the markets in which the Group operates) and changes in demand for luxury goods, including high performance luxury cars, which is highly volatile; macro events, pandemics and conflicts, including the ongoing conflicts in Ukraine and the Middle East region, and the related issues potentially impacting sourcing and transportation, as well as trading policies and tariffs; competition in the luxury performance automobile industry; changes in client preferences and automotive trends; the Group’s ability to preserve its relationship with the automobile collector and enthusiast community; disruptions at the Group’s manufacturing facilities in Maranello and Modena; climate change and other environmental impacts, as well as an increased focus of regulators and stakeholders on environmental matters; the Group’s ability to maintain the functional and efficient operation of its information technology systems and to defend from the risk of cyberattacks, including on its in-vehicle technology; the ability of its current management team to operate and manage effectively and the reliance upon a number of key members of executive management and employees; the performance of the Group’s dealer network on which the Group depends for sales and services; product warranties, product recalls, and liability claims; the sponsorship and commercial revenues and expenses of the Group’s racing activities, as well as the popularity of motor sports more broadly; the performance of the Group’s lifestyle activities; the Group’s ability to protect its intellectual property rights and to avoid infringing on the intellectual property rights of others; the Group’s continued compliance with customs regulations of various jurisdictions; labor relations and collective bargaining agreements; the Group’s ability to ensure that its employees, agents and representatives comply with applicable law and regulations; changes in tax, tariff or fiscal policies and regulatory, political and labor conditions in the jurisdictions in which the Group operates; the Group’s ability to service and refinance its debt; exchange rate fluctuations, interest rate changes, credit risk and other market risks; the Group’s ability to provide or arrange for adequate access to financing for its clients and dealers, and associated risks; the adequacy of its insurance coverage to protect the Group against potential losses; potential conflicts of interest due to director and officer overlaps with the Group’s largest shareholders; and other factors discussed elsewhere in this document.

The Group expressly disclaims and does not assume any liability in connection with any inaccuracies in any of the forward-looking statements in this document or in connection with any use by any third party of such forward-looking statements. Any forward-looking statements contained in this document speak only as of the date of this document and the Company does not undertake any obligation to update or revise publicly forward-looking statements. Further information concerning the Group and its businesses, including factors that could materially affect the Company’s financial results, is included in the Company’s reports and filings with the U.S. Securities and Exchange Commission, the AFM and CONSOB.

For further information:
Media Relations
tel.: +39 0536 241053
Email: media@ferrari.com

Investor Relations
tel.: +39 0536 241395
Email: ir@ferrari.com

www.ferrari.com

Capex and R&D

Non-GAAP financial measures

Operations are monitored through the use of various non-GAAP financial measures that may not be comparable to other similarly titled measures of other companies.

Accordingly, investors and analysts should exercise appropriate caution in comparing these supplemental financial measures to similarly titled financial measures reported by other companies.

We believe that these supplemental financial measures provide comparable measures of financial performance which then facilitate management’s ability to identify operational trends, as well as make decisions regarding future spending, resource allocations and other operational decisions.

Certain totals in the tables included in this document may not add due to rounding.

Key performance metrics and reconciliations of NON-GAAP financial measures

Total net revenues, EBITDA and Operating profit (EBIT) at constant currency eliminate the effects of changes in foreign currency (transaction and translation) and of foreign currency hedges.

EBITDA is defined as net profit before income tax expense, financial expenses/(income), net and amortization and depreciation. Adjusted EBITDA is defined as EBITDA as adjusted for certain income and costs, which are significant in nature, expected to occur infrequently, and that management considers not reflective of ongoing operational activities.

“Adjusted Operating profit” or Adjusted Earnings Before Interest and Taxes or “Adjusted EBIT” represents Operating profit (EBIT) as adjusted for certain income and costs which are significant in nature, expected to occur infrequently, and that management considers not reflective of ongoing operational activities.

Adjusted Net profit represents net profit as adjusted for certain income and costs (net of tax effect) which are significant in nature, expected to occur infrequently, and that management considers not reflective of ongoing operational activities.

Basic and diluted EPS⁽¹⁵⁾ are determined as per the table here below. Adjusted EPS represents EPS as adjusted for certain income and costs (net of tax effect) which are significant in nature, expected to occur infrequently, and that management considers not reflective of ongoing operational activities.

Net Industrial (Debt)/Cash, defined as total Debt less Cash and Cash Equivalents (Net (Debt)/Cash), further adjusted to exclude the debt and cash and cash equivalents related to our financial services activities (Net (Debt)/Cash of Financial Services Activities). Net Debt of Financial Services Activities is defined as debt of our financial services activities less cash and cash equivalents of our financial services activities. The Net Debt of Financial Services Activities primarily relates to our asset-backed financing (securitizations) of the receivables generated by our financial services activities in the United States.

Free Cash Flow and Free Cash Flow from Industrial Activities are two of management’s primary key performance indicators to measure the Group’s performance. Free Cash Flow is defined as cash flows from operating activities less investments in property, plant and equipment (excluding right-of-use assets recognized during the period in accordance with IFRS 16 — Leases), intangible assets and joint ventures. Free Cash Flow from Industrial Activities is defined as Free Cash Flow adjusted to exclude the operating cash flow from our financial services activities (Free Cash Flow from Financial Services Activities). Free Cash Flow from Financial Services Activities is defined as cash flows from operating activities of our financial services activities less investments in property, plant and equipment (excluding right-of-use assets recognized during the period in accordance with IFRS 16 — Leases), intangible assets and joint ventures of our financial services activities.

On February 4, 2025, at 3:00 p.m. CET, management will hold a conference call to present the 2024 results to financial analysts and institutional investors. Please note that registering in advance is required to access the conference call details. The call can be followed live and a recording will subsequently be available on the Group’s website https://www.ferrari.com/en-EN/corporate/investors. The supporting document will be made available on the website prior to the call.

¹  The term EBIT is used as a synonym for Operating profit. Adjusted metrics equaled the reported ones, since there were no adjustments impacting EBITDA, EBITDA margin, EBIT, EBIT margin, Net profit, Basic EPS and Diluted EPS in the periods presented. Refer to specific paragraph on non-GAAP financial measures.
²  These results have been prepared in accordance with the IFRS Accounting Standards (“IFRS Accounting Standards”) as issued by the International Accounting Standards Board (“IASB”) as well as IFRS Accounting Standards as adopted by the European Union
³  Excluding strictly limited racing cars (such as the XX Programme and the 499P Modificata), one-off and pre-owned cars
⁴  EMEA includes: Italy, UK, Germany, Switzerland, France, Middle East (includes the United Arab Emirates, Saudi Arabia, Bahrain, Lebanon, Qatar, Oman and Kuwait), Africa and European markets not separately identified; Americas includes: United States of America, Canada, Mexico, the Caribbean and Central and South America; Rest of APAC mainly includes: Japan, Australia, Singapore, Indonesia, South Korea, Thailand, India and Malaysia
⁵  Of which 839 units in Q4 2024 (+74 units or +9.7% vs Q4 2023) and 3,452 units in FY 2024 (+190 units or +5.8% vs FY 2023) in the United States of America
⁶  Of which 181 units in Q4 2024 (-111 units or -38.0% vs Q4 2023) and 814 units in FY 2024 (-407 units or -33.3% vs FY 2023) in Mainland China
⁷         Includes net revenues generated from shipments of our cars, any personalization generated on these cars, as well as sales of spare parts
⁸         Includes net revenues earned by our racing teams (mainly in the Formula 1 World Championship and the World Endurance Championship) through sponsorship agreements and our share of the Formula 1 World Championship commercial revenues, as well as net revenues generated through the Ferrari brand, including fashion collections, merchandising, licensing and royalty income
⁹         Primarily relates to financial services activities, management of the Mugello racetrack and other sports-related activities, as well as net revenues generated from the rental of engines to other Formula 1 racing teams and from the sale of engines to Maserati. Starting from 2024, residual net revenues generated from the sale of engines are presented within other net revenues as a result of the expiration of the supply contract with Maserati in December 2023. As a result, net revenues generated from engines of Euro 39 million for the three months ended December 31, 2023 and Euro 127 million for the twelve months ended December 31, 2023, that were previously presented as “Engines” net revenues, have been presented within “Other” net revenues to conform to the current presentation.
¹⁰ The effective tax rate benefited from the coexistence of two successive Patent Box tax regimes, which provide tax benefits for companies using intangible assets. The Patent Box regime firstly introduced by the Italian Law No. 190/2014 was implemented by the Group from 2020 to 2024, recognizing the tax benefit over three annual installments. The new Patent Box regime regulated by Law Decree No. 146, effective from October 22, 2021, provides for a 110% super tax deduction for costs relating to eligible intangible assets and allows for a transitional period where both regimes coexist.
¹¹  Capital expenditures excluding right-of-use assets recognized during the period in accordance with IFRS 16 – Leases
¹²         Excluding dividend distribution to non-controlling interest (NCI)
¹³         Calculated using the weighted average diluted number of common shares as of December 31, 2024 (179,992 thousand)
¹⁴ Capitalized as intangible assets

¹⁵  For the three and twelve months ended December 31, 2024 and 2023 the weighted average number of common shares for diluted earnings per share was increased to take into consideration the theoretical effect of the potential common shares that would be issued for outstanding share-based awards granted by the Group (assuming 100 percent of the target awards vested)

Attachment

• 2025_02_04 – Ferrari FY 2024 Results Press Release

Highlights

• Enhances the production profile at Otjikoto, with continued strong exploration upside at the Antelope deposit
  • Underground gold mine with an initial life of mine of approximately 5 years (“Life of Mine”).
  • Average grade processed of 5.75 grams per tonne (“g/t”) gold over the Life of Mine.
  • Life of Mine gold production of approximately 327,000 ounces with an average gold recovery of 95%.
  • Average annual gold production expected to be approximately 65,000 ounces per year over the Life of Mine.
    • In combination with the processing of existing low-grade stockpiles, average annual Otjikoto gold production expected to be approximately 110,000 ounces per year from 2029 through 2032.
  • Projected all-in sustaining costs (“AISC”) (see “Non-IFRS Measures”) of approximately $1,095 per gold ounce over the Life of Mine.

• Strong project economics
  
  • Life of Mine after-tax free cash flow of $185 million at $2,400 per ounce gold price.
  • Assuming a discount rate of 5.0%, net present value (“NPV”) after-tax of $131 million, generating an after-tax internal rate of return (“IRR”) of 35%, with a project payback on pre-production capital of 1.3 years.
  • Estimated pre-production capital cost of $129 million.

• Leverages experience gained by developing and operating the existing Wolfshag underground mine at Otjikoto
  • Permitting and environmental requirements and processes are well understood, and the Antelope deposit is located within the existing mining license area.
  • The existing Wolfshag underground mining team can manage the development and operation of the Antelope underground mine.
  • Existing relationships with suppliers, contractors, regulators, and consultants increases the confidence level of the PEA and reduces cost and execution risk.
  • Surface infrastructure including camp, workshops, offices, and power is in place and operational.

• Exploration upside remains to expand the size of the Antelope deposit
  
  • A total of $7 million is budgeted for exploration at Otjikoto in 2025 to focus on expanding and refining the Antelope deposit with a total of 44,000 meters (“m”) of drilling planned.
  • Drilling at the Antelope deposit in 2025 will include 2,500 m of selective infill drilling down to 25 m x 25 m spacing, to better assess the short range continuity of high-grade mineralization in the Springbok Zone.
  • Other objectives of the 2025 campaign include extending the footprint of Antelope deposit south of the Springbok Zone and to the north, to establish links between the highly prospective Oryx Zone and high-grade mineralization intersected in drill holes approximately one km south of the Otjikoto Phase 5 open pit.

PEA Overview

The PEA, with an effective date of January 15, 2025, was prepared by B2Gold and evaluates recovery of gold from an underground mining operation located approximately 4 km southwest of the existing Otjikoto open pit. Three years of initial mine development includes portal excavation and construction, approximately 3.5 km of primary decline development, and installation of ventilation and other services. The underground mining operation will move up to approximately 1,400 tonnes per day with development-based mining methods (assuming a 3.0 g/t cutoff grade and 4.0 m minimum mining thickness), which will be hauled to the existing processing plant at Otjikoto. Underground gold production will be blended with existing Otjikoto low-grade stockpile feed to increase previously projected gold production by an average of approximately 65,000 ounces per year over the estimated Life of Mine. Engineering and cost parameters, including mine production and development rates and costs, are based on actual costs for the Wolfshag Underground Mine with adjustments for the Antelope Mineral Resource and mine design, and include cost contingencies of 20% for fixed costs and 25% for variable costs. The Inferred Mineral Resource estimate for the Antelope deposit that forms the basis for this PEA includes 1.75 million tonnes grading 6.91 g/t gold for a total of 390,000 ounces of gold, the majority of which is hosted in the Springbok Zone. The Antelope deposit remains open along strike in both directions, highlighting strong potential for future resource expansion.

The PEA assumptions include revenues using a gold price of $2,400 per ounce over the Life of Mine and current prices for fuel, reagents, labour, power and other consumables. The key parameters of the PEA are presented in the following tables:

Table 1 – Key Parameters of the PEA

Notes:

1. AISC consist of cash operating costs, royalties, corporate G&A, and selling costs and excluding pre-production capital costs. See “Non-IFRS Measures”.
2. Capital and operating costs include contingencies of 20% (fixed costs) and 25% (variable costs).
3. Mining parameters include a 3.0 g/t cutoff grade, and minimum thickness of 4.0 m.

Table 2 – Project Economics Summary

Note:

1. NPV_5.0% is calculated as of the start of construction expenditure.

Chart 1 – Incremental Production and Cost Profile by Year

Chart 2 – Free Cash Flow by Year

Note:

1. Assumes $2,400 long-term gold price.

Based on the positive results from the PEA, B2Gold believes that the Antelope deposit has the potential to become a small-scale, low-cost, underground gold mine that can supplement the low-grade stockpile production during the period of 2028 to 2032 and result in a meaningful production profile for Otjikoto into the next decade.

The PEA is subject to a number of assumptions and risks including, among others, that all required permits, permit amendments, and other rights will be obtained in a timely manner, that development of the Antelope deposit will have the support of the government, geotechnical, hydrogeological, and metallurgical assumptions will be confirmed, current selective infill drilling will confirm the continuity of high-grade material in the Springbok Zone, and costs will be similar to the PEA estimates.

The PEA is preliminary in nature and is based on Inferred Mineral Resources that are considered too speculative geologically to have the engineering and economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is no certainty that the PEA based on these Mineral Resources will be realized. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

Economic Sensitivities

The Antelope deposit is sensitive to the gold price, as demonstrated in the following table:

Table 3 – Economic Sensitivity to Long-Term Gold Price

Antelope Deposit Mineral Resource Estimate

The Mineral Resource estimate for the Antelope deposit has an effective date of June 14, 2024, and is reported using a gold price of $1,850 per ounce.

Inferred Mineral Resource Estimate

Notes:

1. The Qualified Person as defined under National Instrument 43-101 for the Springbok Zone June 2024 Mineral Resource estimate is Andrew Brown, P.Geo., B2Gold’s Vice President, Exploration.
2. Mineral Resources have been classified using the 2014 CIM Definition Standards. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. There is no guarantee that all or any part of the Mineral Resource will be converted into a Mineral Reserve. Inferred Resources are considered too geologically speculative to have mining and economic considerations applied to them that would enable them to be categorized as Mineral Reserves.
3. Mineral Resources are reported on a 100% basis.
4. The Springbok Zone June 2024 Mineral Resource Estimate assumes an underground mining method. Mineral resources are reported within optimized stopes that were created using a 3 g/t Au cut-off and minimum thickness of 4 m.
5. “Other” resource ounces are adjacent to the main Springbok Zone and are within the 50 x 50 m drill spacing that defines the inferred mineral resource.
6. All tonnage, grade and contained metal content estimates have been rounded; rounding may result in apparent summation differences between tonnes, grade, and contained metal content.

Antelope Deposit Next Steps

The Company has approved an initial budget of up to $10 million for 2025 to de-risk the Antelope deposit development schedule by advancing early work planning, project permits, and long lead orders. Technical work including geotechnical, hydrogeological, and metallurgical testing is anticipated to be completed over the next several months. Cost and schedule assumptions will continue to be refined by working with suppliers and contractors, including running a competitive bid process for the development phase of the Antelope deposit.

In addition, as part of the $7 million exploration budget for 2025, exploration drilling will continue to advance the Antelope deposit, including closely spaced drill holes to confirm the Mineral Resource, and wider spaced drill holes along strike with the aim of extending the deposit to the north and south.

About B2Gold

B2Gold is a responsible international senior gold producer headquartered in Vancouver, Canada. Founded in 2007, today, B2Gold has operating gold mines in Mali, Namibia and the Philippines, the Goose Project under construction in northern Canada and numerous development and exploration projects in various countries including Mali, Colombia and Finland. B2Gold forecasts total consolidated gold production of between 970,000 and 1,075,000 ounces in 2025.

Qualified Persons

Peter D. Montano, P. Eng., Vice President, Projects, a qualified person under NI 43-101, has approved the scientific and technical information related to operations matters contained in this news release.

Andrew Brown, P. Geo., Vice President, Exploration, a qualified person under NI 43-101, has approved the scientific and technical information related to exploration and mineral resource matters contained in this news release.

ON BEHALF OF B2GOLD CORP.

“Clive T. Johnson”
President and Chief Executive Officer

Source: B2Gold Corp.

The Toronto Stock Exchange and NYSE American LLC neither approve nor disapprove the information contained in this news release.

Production results and production guidance presented in this news release reflect total production at the mines B2Gold operates on a 100% project basis. Please see our Annual Information Form dated March 14, 2024, for a discussion of our ownership interest in the mines B2Gold operates.

This news release includes certain “forward-looking information” and “forward-looking statements” (collectively forward-looking statements”) within the meaning of applicable Canadian and United States securities legislation, including: projections; outlook; guidance; forecasts; estimates; and other statements regarding future or estimated financial and operational performance, gold production and sales, revenues and cash flows, and capital costs (sustaining and non-sustaining) and operating costs, including projected cash operating costs and AISC, and budgets on a consolidated and mine by mine basis; future or estimated mine life, metal price assumptions, ore grades or sources, gold recovery rates, stripping ratios, throughput, ore processing; statements regarding anticipated exploration, drilling, development, construction, permitting and other activities or achievements of B2Gold; and including, without limitation: total consolidated gold production of between 970,000 and 1,075,000 ounces in 2025; the results and estimates in the Antelope deposit PEA, including the project life, average annual gold production, total gold production, ore tonnes processed, capital cost, net present value, after-tax net cash flow and payback; the potential to convert existing inferred resources to the indicated category; and the potential to develop the Antelope deposit as an underground gold mine. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as “expect”, “plan”, “anticipate”, “project”, “target”, “potential”, “schedule”, “forecast”, “budget”, “estimate”, “intend” or “believe” and similar expressions or their negative connotations, or that events or conditions “will”, “would”, “may”, “could”, “should” or “might” occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made.

Forward-looking statements necessarily involve assumptions, risks and uncertainties, certain of which are beyond B2Gold’s control, including risks associated with or related to: the volatility of metal prices and B2Gold’s common shares; changes in tax laws; the dangers inherent in exploration, development and mining activities; the uncertainty of reserve and resource estimates; not achieving production, cost or other estimates; actual production, development plans and costs differing materially from the estimates in B2Gold’s feasibility and other studies; the ability to obtain and maintain any necessary permits, consents or authorizations required for mining activities; environmental regulations or hazards and compliance with complex regulations associated with mining activities; climate change and climate change regulations; the ability to replace mineral reserves and identify acquisition opportunities; the unknown liabilities of companies acquired by B2Gold; the ability to successfully integrate new acquisitions; fluctuations in exchange rates; the availability of financing; financing and debt activities, including potential restrictions imposed on B2Gold’s operations as a result thereof and the ability to generate sufficient cash flows; operations in foreign and developing countries and the compliance with foreign laws, including those associated with operations in Mali, Namibia, the Philippines and Colombia and including risks related to changes in foreign laws and changing policies related to mining and local ownership requirements or resource nationalization generally; remote operations and the availability of adequate infrastructure; fluctuations in price and availability of energy and other inputs necessary for mining operations; shortages or cost increases in necessary equipment, supplies and labour; regulatory, political and country risks, including local instability or acts of terrorism and the effects thereof; the reliance upon contractors, third parties and joint venture partners; the lack of sole decision-making authority related to Filminera Resources Corporation, which owns the Masbate Project; challenges to title or surface rights; the dependence on key personnel and the ability to attract and retain skilled personnel; the risk of an uninsurable or uninsured loss; adverse climate and weather conditions; litigation risk; competition with other mining companies; community support for B2Gold’s operations, including risks related to strikes and the halting of such operations from time to time; conflicts with small scale miners; failures of information systems or information security threats; the ability to maintain adequate internal controls over financial reporting as required by law, including Section 404 of the Sarbanes-Oxley Act; compliance with anti-corruption laws, and sanctions or other similar measures; social media and B2Gold’s reputation; risks affecting Calibre having an impact on the value of the Company’s investment in Calibre, and potential dilution of our equity interest in Calibre; as well as other factors identified and as described in more detail under the heading “Risk Factors” in B2Gold’s most recent Annual Information Form, B2Gold’s current Form 40-F Annual Report and B2Gold’s other filings with Canadian securities regulators and the U.S. Securities and Exchange Commission (the “SEC”), which may be viewed at www.sedar.com and www.sec.gov, respectively (the “Websites”). The list is not exhaustive of the factors that may affect B2Gold’s forward-looking statements.

B2Gold’s forward-looking statements are based on the applicable assumptions and factors management considers reasonable as of the date hereof, based on the information available to management at such time. These assumptions and factors include, but are not limited to, assumptions and factors related to B2Gold’s ability to carry on current and future operations, including: development and exploration activities; the timing, extent, duration and economic viability of such operations, including any mineral resources or reserves identified thereby; the accuracy and reliability of estimates, projections, forecasts, studies and assessments; B2Gold’s ability to meet or achieve estimates, projections and forecasts; the availability and cost of inputs; the price and market for outputs, including gold; foreign exchange rates; taxation levels; the timely receipt of necessary approvals or permits; the ability to meet current and future obligations; the ability to obtain timely financing on reasonable terms when required; the current and future social, economic and political conditions; and other assumptions and factors generally associated with the mining industry.

B2Gold’s forward-looking statements are based on the opinions and estimates of management and reflect their current expectations regarding future events and operating performance and speak only as of the date hereof. B2Gold does not assume any obligation to update forward-looking statements if circumstances or management’s beliefs, expectations or opinions should change other than as required by applicable law. There can be no assurance that forward-looking statements will prove to be accurate, and actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Accordingly, no assurance can be given that any events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits or liabilities B2Gold will derive therefrom. For the reasons set forth above, undue reliance should not be placed on forward-looking statements.

Non-IFRS Measures
This news release includes certain terms or performance measures commonly used in the mining industry that are not defined under International Financial Reporting Standards (“IFRS”), including “all-in sustaining costs” (or “AISC”). Non-IFRS measures do not have any standardized meaning prescribed under IFRS, and therefore they may not be comparable to similar measures employed by other companies. The data presented is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS and should be read in conjunction with B2Gold’s consolidated financial statements. Readers should refer to B2Gold’s Management Discussion and Analysis, available on the Websites, under the heading “Non-IFRS Measures” for a more detailed discussion of how B2Gold calculates certain of such measures and a reconciliation of certain measures to IFRS terms.

Cautionary Statement Regarding Mineral Reserve and Resource Estimates
The disclosure in this news release was prepared in accordance with Canadian National Instrument 43-101, which differs significantly from the requirements of the United States Securities and Exchange Commission (“SEC”), and resource and reserve information contained or referenced in this news release may not be comparable to similar information disclosed by public companies subject to the technical disclosure requirements of the SEC. Historical results or feasibility models presented herein are not guarantees or expectations of future performance.

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/3737a561-8160-4994-903f-08a13c98a4da

https://www.globenewswire.com/NewsRoom/AttachmentNg/bdfad632-8e83-46f2-810e-87dce07d8ade

CONTACT: For more information on B2Gold please visit the Company website at www.b2gold.com or contact: Michael McDonald VP, Investor Relations & Corporate Development +1 604-681-8371 investor@b2gold.com Cherry DeGeer Director, Corporate Communications +1 604-681-8371 investor@b2gold.com

By CNBC

Global Business Services LLC (GBS), a leading business and legal services firm in Vietnam, is proud to announce that it has been shortlisted for the “Financial Services Law Firm of the Year in Vietnam – 2025” at the Global Law Experts (GLE) Annual Awards.

This prestigious recognition highlights GBS’s outstanding expertise in investment consulting, merger & acquisition advisory, and company formation services for foreign investors seeking to enter and expand in Vietnam.

The Global Law Experts Awards celebrate top-performing legal and consulting firms worldwide that demonstrate excellence in industry knowledge, client service, and innovative solutions. Being shortlisted is a testament to GBS’s dedication to supporting international businesses in navigating Vietnam’s dynamic business environment, ensuring a smooth market entry and sustainable growth.

“With a highly skilled team and a diverse global client base, we take great pride in being recognized among the best in the industry,” said Sophie Dao, Senior Partner of GBS. “This shortlisting reflects our unwavering commitment to delivering top-tier financial and legal advisory services that drive success for our clients.”

GBS extends its heartfelt gratitude to its clients, partners, and team members for their continuous trust and support.

For more information about GBS and its services, please visit https://gbs.com.vn.

Contact:
Sophie Dao
Senior Partner, GBS
Email: sophie@gbs.com.vn
Phone: +84903189033
Website: https://gbs.com.vn

Source: Crypto Insider

Tricam, based in Eden Prairie, MN, specializes in the design, development and engineering of consumer and professional home improvement equipment, including ladders and step stools, garden carts, wheelbarrows, hose reels and hand trucks, among others. The Company’s products are primarily sold through home center and retail channels across North America, Australia and New Zealand under the flagship Gorilla^® brand as well as other owned and licensed brands.

Jeff Skubic, President & CEO of Tricam, stated, “This transaction represents an exciting milestone in Tricam’s corporate journey. Over the last three decades, Tricam has built a strong reputation as a trusted supplier with high quality products consumers respond to and have come to expect from us. We’re grateful for the confidence our partners and customers place in us, and we’re looking forward to partnering with Nexus as we continue to expand our product portfolio and accelerate our growth. Our founder, Tony McMunn, established a culture built on an unwavering entrepreneurial drive that fosters and rewards hard work, creativity, and collaboration. The team is excited, and we’re pleased the McMunn family will continue along with us.”

“My family and I are excited to partner with Nexus and feel very confident this relationship will allow for continued success and provide opportunities for our employees” said Tricam founder Tony McMunn.

“We are thrilled to partner with Jeff, Tony and the Tricam management team,” said Michael Cohen, Partner at Nexus. “Tricam has established itself as a market leader by focusing relentlessly on innovation, quality and safety. We look forward to working closely with Tricam to continue building on the Company’s long history of success.”

Brad Kottman, Principal at Nexus, added, “We are thoroughly impressed with the strong foundation Tricam has established. The Company is led by a highly experienced team, the product suite is differentiated, and the supply chain is diverse and resilient. This investment represents a compelling new platform that is well positioned to react to changing environments and pursue continued growth.”

Kirkland & Ellis LLP served as legal advisor to Nexus. Jefferies LLC served as financial advisor and Fox Rothschild LLP served as legal advisor to Tricam. J.P. Morgan and Citi provided financing for the acquisition.

About Tricam

Tricam, founded in 1990, is a leading supplier of home improvement and hardware products sold through home center and retail outlets primarily in the US, Canada, Australia and New Zealand. Based in Eden Prairie, Minnesota, the Company employs a growing team centered around bringing innovative products to market and maintaining strong relationships with our retailer and supplier partners. The Company continues to invest in its product and brand portfolio, led by its flagship Gorilla® brand across multiple product categories, including ladders, garden carts, wheelbarrows, hose reels and hand trucks. For more information on Tricam, please visit www.gorillamade.com and www.tricamindustries.com.

About Nexus Capital Management LP

Nexus is an alternative asset investment management company based in Los Angeles, California that was founded in 2013. Nexus employs a flexible investment mandate that focuses on long-term value creation by partnering with leading management teams and businesses. For more information on Nexus, please visit www.nexuslp.com.

Contact Information:

Mike Gabbert

Tricam Director of Marketing

Mgabbert@tricam.com

CALGARY, Alberta, Feb. 03, 2025 (GLOBE NEWSWIRE) — First Helium Inc. (“First Helium” or the “Company”) (TSXV: HELI) (OTCQB: FHELF) (FRA: 2MC) today announced that it has begun drilling its high impact Leduc anomaly, the 7-15 well, at its Worsley Property in Northern Alberta. The location was identified on proprietary 3D seismic data interpreted last spring. In addition to the primary Leduc formation target, the Company will be evaluating multiple uphole zones for oil, natural gas and helium. These zones have been previously identified on First Helium wells and in other existing well bores on, and around the Company’s Worsley land base. The Company will continue to provide regular updates on ongoing field activities.

“We are excited to be drilling our high impact Leduc anomaly, 7-15, which on seismic is approximately 5X the areal extent of our successful 1-30 light oil pool discovery. Favorable results from this well will further de-risk our Leduc Play, where we have identified 10 additional primary locations on proprietary 3D seismic, and potential for further southeast extension across our 100% owned lands,” said Ed Bereznicki, President & CEO of First Helium. “With this next drill, we are also excited about continuing to evaluate the multi-zone potential across our Worsley land base. Success in these stacked zones could provide meaningful additional value for our shareholders from multiple formations and commodities,” added Mr. Bereznicki.

The recently drilled 7-30 development well has been cased for completion and testing. Following drilling of the 7-15 well, and subject to results, necessary preparations are being made to complete, equip and tie-in both wells prior to spring break up in Alberta (a period from mid/late March through May when Provincial highway restrictions limit heavy equipment movement), further setting the stage for systematic development across the Company’s extensive 100%-owned land base.

Figure 1:
East Worsley Project Inventory

ABOUT FIRST HELIUM

Led by a core Senior Executive Team with diverse and extensive backgrounds in Oil & Gas Exploration and Operations, Mining, Finance, and Capital Markets, First Helium seeks to be one of the leading independent providers of helium gas in North America.

First Helium holds over 53,000 acres along the highly prospective Worsley Trend in Northern Alberta which has been the core of its exploration and development drilling activities to date.

Building on its successful 15-25 helium discovery well, and 1-30 and 4-29 oil wells at the Worsley project, the Company has identified numerous follow-up drill locations and acquired an expansive infrastructure system to facilitate future exploration and development across its Worsley land base. Cash flow from its successful oil wells at Worsley has helped support First Helium’s ongoing exploration and development growth strategy. Further potential oil drilling locations have also been identified on the Company’s Worsley land base.

For more information about the Company, please visit www.firsthelium.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Edward J. Bereznicki
President, CEO and Director

CONTACT INFORMATION

First Helium Inc.
Investor Relations
Email: ir@firsthelium.com
Phone: 1-833-HELIUM1 (1-833-435-4861)

Neither 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 press release contains forward looking statements within the meaning of applicable securities laws. The use of any of the words “anticipate”, “plan”, “continue”, “expect”, “estimate”, “objective”, “may”, “will”, “project”, “should”, “predict”, “potential” and similar expressions are intended to identify forward looking statements. In particular, this press release contains forward looking statements concerning the completion of future planned activities. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company cannot give any assurance that they will prove correct. Since forward looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with the state of the equity financing markets and regulatory approval.

Management has provided the above summary of risks and assumptions related to forward looking statements in this press release in order to provide readers with a more comprehensive perspective on the Company’s future operations. The Company’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward-looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.

SOURCE: First Helium Inc.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/695cd8e5-7291-4f66-b2f9-a6bdc7d7928e

Europe next in line for tariffs?

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By CNBC

The global demand for isopropyl alcohol (IPA) has been on a remarkable upswing, propelled by its versatile applications across multiple sectors. In 2023, the global production volume of IPA reached approximately 2.36 million metric tons, underscoring a fast-expanding industry that serves countless manufacturing processes. Within North America alone, the market accounted for around 210 thousand tons of IPA last year, reflecting the region’s steadfast commitment to fulfilling the increasing needs of healthcare, electronics, and other key verticals. As global industries reshape themselves in the wake of heightened sanitization requirements, IPA remains a staple for its antiseptic, cleaning, and solvent properties, driving its steady rise in usage on the world stage.

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One of the most compelling illustrations of this surge is the projection that the high-purity isopropyl alcohol market for semiconductor applications is set to reach US$ 271.24 million by 2031, tying this compound closely to cutting-edge technology manufacturing. Beyond semiconductors, the global IPA market itself stood at US$ 3.65 billion in 2024, while the broader industrial alcohol market. This robust performance in high-tech, healthcare, and industrial arenas was intensified by the COVID-19 pandemic, which led to a dramatic 100-fold increase in orders from certain manufacturers. As stricter hygiene standards became the norm, demand soared, highlighting IPA’s unique utility in safeguarding both public health and industrial efficiency. Notably, the electronics sector alone utilizes around 120,000 metric tons of IPA every year for precision cleaning, underscoring its indispensable role in ensuring product quality and functionality. Meanwhile, pharmaceutical players consume about 50,000 metric tons annually, using IPA in antiseptics, sanitizers, and formulation processes.

Key Findings in Isopropyl Alcohol Market

Current Production and Consumption Volume of Isopropyl Alcohol: Global Scale and Key Players

Isopropyl alcohol market production and consumption have demonstrated notable growth, reflecting the essential role this substance plays in diverse industries. Back in 2018, the worldwide production capacity of IPA stood around 2.4 million tons, highlighting its significance in meeting expanding demand. China’s capacity, for instance, reached 1.4 million tons in 2024, signaling the country’s emergence as a major producer and consumer of IPA. The United States, another dominant market, reportedly consumes around 450,000 metric tons annually, underscoring North America’s continuing reliance on IPA for applications ranging from healthcare to automotive maintenance.

At the same time, India’s production capacity in the isopropyl alcohol market is anticipated to touch 300,000 tons by 2025, while Japan’s annual consumption is estimated at 180,000 metric tons, and the European Union collectively consumes around 400,000 metric tons per year. Each of these regions relies on IPA for cleaning, disinfection, or as a solvent intermediary in manufacturing. Brazil also contributes to global figures, with an expected 50,000 tons of IPA demand by 2026. Such numbers reveal how varied regions around the globe are independently pushing IPA usage due to rising sanitization protocols, technological developments, and industrial expansion.

Among the industry’s key players in the isopropyl alcohol market, several large corporations stand out for their substantial capacities and capabilities. Russia’s annual production of around 100,000 tons feeds into global supply chains, while well-established chemical giants like Exxon Mobil Corp., Shell plc, and LyondellBasell Industries N.V. maintain their influential positions by leveraging advanced refining technologies. These major players ensure efficient distribution and uphold international quality standards that encourage widespread IPA adoption. Their strategic expansions, coupled with evolving market demands, affirm that IPA’s production and consumption volumes will remain robust across the globe, backed by both developed and emerging economic powers poised to harness the compound’s wide-ranging benefits.

Emerging Applications of Isopropyl Alcohol Shaping Demand

Isopropyl alcohol market capture attention as its emerging applications reshape industrial practices. The electronics sector alone consumes about 120,000 metric tons of IPA yearly, relying on its exceptional cleaning properties to maintain delicate components such as semiconductors and printed circuit boards. This demand is propelled by rapid technological leaps, 5G networks, and miniaturization trends in consumer devices. In the pharmaceutical domain, IPA usage sits at around 50,000 metric tons annually, providing a vital disinfectant and solvent function for medical devices, formulations, and laboratory environments. As antimicrobial requirements rise and medical standards grow stricter, IPA proves indispensable in maintaining sterile conditions.

Beyond these sectors, isopropyl alcohol market’s role in personal care products stands out, with approximately 30,000 metric tons allocated each year to developing sanitizers, cosmetics, and related items. Meanwhile, the automotive industry requires about 25,000 metric tons annually for degreasing and cleaning advanced vehicle systems, ensuring safe and efficient performance. Printing operations utilize roughly 15,000 metric tons per year as a solvent and cleaning solution, further illustrating IPA’s adaptability in diverse manufacturing processes. Notably, the medical device industry consumes 10,000 metric tons for sterilization, and even the aerospace field taps into about 5,000 metric tons annually to remove contaminants and uphold exacting performance standards.

Another emerging application is in renewable energy, with solar panel manufacturing calling for approximately 3,000 metric tons a year to preserve critical components during production. These wide-ranging uses highlight IPA’s growing importance as industries modernize their operations. The move toward green chemistry also fosters a growing interest in bio-based IPA, reflecting a collective push for more sustainable pathways in chemical manufacturing. From intricate electronics fabrication to everyday personal care items, IPA is at the forefront of innovations, consistently shaping demand patterns in today’s global marketplace.

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Top 4 Players in China’s Isopropyl Alcohol Market

China’s market is primarily steered by four major players, each showcasing substantial production capacities and robust strategic networks. Jiangsu Yongtaihua Chemical Co., Ltd. stands out with an annual production capacity of 200,000 tonnes of IPA, underscoring its significant role in both local and international supply chains. Qingdao Highly Chemical, owning a production facility sprawling over 50,000 square meters, serves as a crucial contributor to the country’s IPA output. Additionally, Suzhou Upline manages a dedicated IPA production line at a capacity of 100,000 tonnes per year. Further cementing the market’s structural foundation is China Petroleum & Chemical Corporation (Sinopec), whose total refining capacity of 5.9 million barrels per day lends considerable weight to its IPA production.

Central to Jiangsu Yongtaihua Chemical’s operations in the China’s isopropyl alcohol market is its noted ability to export nearly 30% of its IPA produce to global destinations, signifying a balanced domestic and international market strategy. Qingdao Highly Chemical’s strong R&D team of over 50 scientists and engineers is critical for developing more efficient manufacturing processes. In parallel, Sinopec boasts an extensive distribution network of over 30,000 service stations across China, ensuring IPA reaches diverse markets and end-users effectively. Suzhou Upline has invested over 100 million yuan in facility upgrades in the past five years, demonstrating a commitment to scaling production and maintaining consistent quality.

Taken together, these top contenders in the isopropyl alcohol market underscore the dynamic nature of IPA production in China, marked by technological advancement and a relentless drive for market leadership. Their efforts to modernize manufacturing processes and accommodate shifting demands have catalyzed healthy competition. With capacities ranging from 100,000 to 200,000 tonnes, they collectively stabilize supply chains for a wide spectrum of industries, including pharmaceuticals, electronics, and personal care. As these companies continue to expand and optimize, China’s IPA market remains a powerhouse shaped by innovation and ambitious strategic investments.

Global Isopropyl Alcohol Market Major Players:

• Dow Chemical
• Ecolab
• ExxonMobil
• Huntsman Company
• ISU Chemical Co., Ltd.
• KLK OLEO
• LCY Chemical Corp.
• LG Chem
• Linda Gas
• LyondellBasell
• Manali Petrochemicals Ltd.
• Mistral Industrial Chemicals
• Mitsui Chemicals
• Perrigo Company plc
• ReAgent Chemicals Ltd
• Royal Dutch Shell
• Shell Chemicals
• Suzhou Jiutai Group
• Tokuyama Corporation
• Other Prominent Players

Key Segmentation:

By Application

• Coating and Dye Solvent
• Process and Preparation Solvent
• Cleaning and Drying Agent
• Intermediate
• Other Applications

By End-user Industry

• Pharmaceutical
• Cosmetics and Personal Care
• Electronics
• Chemicals
• Paints and Coatings
• Other End-user Industries

By Region 

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America

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About Astute Analytica

Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.

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Astute Analytica
Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World)
For Sales Enquiries: sales@astuteanalytica.com
Website: https://www.astuteanalytica.com/
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Source: Crypto Insider

Currency defense

Stimulus eyed

Pending tit-for-tat

By CNBC