Panoro Reports Positive Preliminary Economic Assessment for Antilla Copper Project Heap Leach & SX/EW Operation

Panoro Minerals Ltd. (TSXV: PML, Lima: PML, Frankfurt: PZM) (“Panoro”, the “Company”) is pleased to announce that it has received the results of an independent Preliminary Economic Assessment ("PEA") of the Company’s 100% owned Antilla project in Peru. The Antilla project is a copper-molybdenum porphyry deposit, located 140 km south west of the city of Cuzco, in the Apurimac region in Southern Peru.

Highlights

  • Pre-tax Estimates:
  • NPV (7.5%) of US$ 519.8 million;
  • IRR of 34.7%; and
  • Payback of 2.6 years.
  • After-tax Estimates:
  • NPV (7.5%) of US$ 305.4 million;
  • IRR of 25.9%; and
  • Payback of 3.0 years.
  • Conventional open pit mine focused on supergene copper sulphides;
  • Heap Leach and Solvent Extraction Electrowinning (SX/EW) process;
  • Design throughput of 20,000 tonnes per day with an operational mine life of 17 years
  • Low waste to mill feed ratio of 1.38:1;
  • Average annual payable copper of 46.3 million pounds, as Cathodes;
  • Average direct cash costs (C1) of US$1.51 per pound of payable copper;
  • Initial Project capital costs of US$ 250.4 million, including contingencies; and
  • Good potential for discovery of additional supergene mineralization adjacent to the current mineral resource area.

Having completed the optimization of the Antilla Project, the Company will be completing a strategic review of the development and financing plans to put the Antilla Project on the road to development.

The PEA was prepared by Moose Mountain Technical Services Ltd. (“MMTS”) in accordance with the definitions in Canadian National Instrument 43-101. The PEA is based on a Mineral Resource estimate completed by Tetra Tech Inc. (“Tetra Tech”) in December 2013, based on 2,919 metres of drilling from legacy campaigns (2003-5), 9,130 metres of drilling by Panoro (2008), and 2,242 metres of drilling during a joint venture agreement with Chancadora Centauro SA (CHC) in 2010. The Mineral Resource estimate includes primary and supergene sulphides, as well as mixed hypogene and supergene copper mineralization.

The PEA is considered preliminary in nature. The mine plan of the PEA includes 113.3 million tonnes of Indicated Mineral Resources and 5.4 million tonnes of Inferred Mineral Resources.   Inferred Mineral Resources are considered too speculative to have the economic considerations applied that would enable classification as Mineral Reserves. There is no certainty that the conclusions within the PEA will be realized. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

Luquman Shaheen, President & CEO of Panoro Minerals states, “The redesign of the Antilla Project has resulted in significantly improved project economics.  The mine plan has focused on the higher grade, near surface secondary sulphides, which are amenable to processing through heap leaching, solvent extraction, and electrowinning (LIX-SX-EW).  As a result, the initial capital costs have been reduced by 59%, the C1 cash costs reduced by 18%, the C2 cash costs by 23% and the sustaining capital required for a tailings facility has been eliminated. The base case, after tax NPV(7.5) has increased 36%, the IRR has increased 11% and the payback period has been reduced by 27%.  Over 95% of the mineralized material contained in the mine plan is classified as Indicated. The improved Antilla Project is now near the lower quartile of new copper projects in terms of both cash costs and capital intensity.  The much reduced $250 million initial capital cost will facilitate a broader range of strategic financing and/or development approaches to advancing the Antilla Project through feasibility studies and into development and operation.  We are very pleased to have achieved the objective of optimizing the Antilla Project and look forward to advancing our strategic plan. We continue focussing on our Flagship Cotabambas Project where our investment programs for 2018 and 2019 are focussing on enhancing the project economics and growth profile through exploration success.”

Economics

The table below summarizes base case economic metrics for the project as well as its sensitivity to the price of copper

Project economics were estimated on the basis of long-term copper price of US$3.05/lb.  The long-term forecasts were derived from prices periodically published by large banking and financial institutions and were applied to years 4 to 17 of the mine life.  Shorter term copper price estimates were used for Years 1 to 3 of the mine life reflecting higher price forecasts in the shorter term.  For the base case, Years 1 to 3 of the mine life used estimated copper prices of $3.20, $3.15 and $3.10, respectively.  Molybdenum is not included in the proposed process recovery and not included in the project economics.

Mineral Resources

The PEA was based on a Mineral Resource model prepared by Tetra Tech, which is documented in a technical report filed on Sedar, dated December 16, 2013.

Mineral Resources were estimated by Qualified Person Paul Daigle, PGeo. (APGO #1592). A block model was generated with grade estimation constrained by modeled mineralization wireframes. Mineralization is mined from an open pit and treated using a conventional hydrometallurgical flow sheet. Copper equivalent (CuEq) cut-offs were used to report the mineral resource. Metal prices: copper – US$3.25/lb and molybdenum – US$9.00/lb and metallurgical recoveries: copper – 90% and molybdenum – 80% were applied in the equivalency calculation.

Mining and Processing

The PEA incorporates an open pit mining operation using conventional truck and shovel methods delivering mineralized material to the heap leach pad.  Mining will be done using contractors. The estimated 17 year life of mine includes 118.7 million tonnes of mineralized leach pad feed plus 163.4 million tonnes of waste rock resulting in an average waste:process feed ratio of 1.38:1. The average life of mine leach pad head grade is 0.43% copper. The leach material placement is planned at an average rate of 20,000 tonnes per day. The waste rock will be placed in a storage area to the west of the pit, in between the pit and the leach pad.

Of the 118.7 million tonnes of leach material mined from the open pit, 117.1 million tonnes is classified as supergene enriched material with the balance of the 1.6 million tonnes being classified as overburden, leach cap or primary sulphides.

The sub-set of the Mineral Resources contained within the ultimate pit and included in the mine plan is 113.3 million tonnes averaging 0.45% Cu classified as Indicated Resources, and 5.4 million tonnes averaging 0.26% Cu classified as Inferred Resources. The reader is cautioned that the Inferred Resources included in the mine plan are considered too speculative geologically to have economic considerations applied to them that would enable categorization as Mineral Reserves. There is no certainty that Inferred Resources will be upgraded to Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

Haul trucks will deliver the run of mine, mineralized material to a two-stage crushing plant. The product from the primary crusher will feed a secondary crushing station whose product will then be stored in a crushed ore stockpile. The crushed material will be loaded to trucks and delivered to the synthetic lined valley-fill heap leach facility for irrigation with sulfuric acid and ferric solutions. The pregnant leach solution (PLS) will be recovered from the heap leach operation and piped to a conventional solvent extraction and electrowinning (SX-EW) plant to produce grade-A copper cathodes. The copper-stripped solution generated in the SX plant (raffinate) will be conditioned with sulfuric acid and fresh water and then recycled to the heap leaching operation to irrigate more mineralized material.

Preliminary metallurgical characterisation testwork was completed on samples of mineralogical materials from the Antilla project in 2017. An extended testwork program was initiated at Aminpro Laboratories in March 2018 under the direction of Tetra Tech Mining and Minerals. Aminpro Laboratories are fully certified under both ISO 9001 and 1400. The testwork program comprises quantitative mineralogical analysis, sulphuric acid and ferric sulphate bottle roll predictor tests and column leach tests aimed at characterising the copper leaching characteristics of supergene mineralogical materials. Results from the predictor tests indicate secondary copper minerals are available for extraction with close to theoretical copper extractions being achieved. The column tests remain under leach and are estimated to be completed by September 2018. The results from the column leach program will be incorporated in subsequent technical studies. No test work has been conducted on the Cover, Cap and Primary Sulphide domains as these constitute only minor portions of the deposit.

Table 4 summarizes the expected recoveries of the four mineralized domains, with the Cover and Leach Cap performance assumed to follow the main domains based on similar copper mineralogy/speciation.

Capital and Operating Costs

The projected capital and operating costs for Antilla over a 1 ½ year construction period and 17 year operating mine life are summarized in the tables below.

Power will be supplied via a 10 km long power line connected to the existing national grid connecting the Las Bambas mine to the Cotaruse substation in the district of Chalhuanca.  This power line passes by the south part of Antilla property.

Grade-A copper cathodes produced by Antilla Project will be trucked by a contractor from the mine site to the port of Marcona, in Nazca province, along existing road networks.

Opportunities for Project Growth and Enhanced Economics

  • Tetra Tech recommends that further investigation of the Antilla deposit is warranted and necessary. There is potential to add new mineral resources at depth and in the Northeast and Southeast sides of the pit shell. Tetra Tech recommends that additional drilling be carried out to reduce the drill spacing in those zones with copper mineralization, where drill spacing is greater than 100 m.  Additional drilling will determine, with greater confidence, both the continuity and extents of copper mineralization within and outside of the known deposit.
  • Tetra Tech recommends an extension of the current exploration grid to include the West Block, North Block, Middle Block and Chabuca exploration targets.  Tetra Tech recommends continued geochemical sampling and geophysical surveys over these areas located next to the current mineral resources. 
  • Considering the preliminary metallurgical testwork undertaken on the project to date, there is potential to increase recoveries with additional metallurgical testing

Future Work

Further work leading to a Pre-Feasibility or Feasibiilty Study is recommended and will include drilling, mineral resource modeling, metallurgical testwork, engineering, and marketing studies, hydrological and geotechnical analysis, as well as various baseline environmental and archeological studies. In addition, exploration work will be recommended over the other targets in the vicinity of the known deposits.

Environment & Permitting

Existing environmental liabilities associated with the project are restricted to those expected to be associated with an exploration-stage project, and include drill sites and access roads. Additional Environmental Baseline studies should be conducted to collect site data including surface water quality, archeology, aquatic and terrestrial biology, flora, fauna, and additional geochemical characterization of mine waste materials.  This information will inform a comprehensive Environmental Impact Study.

Technical Reporting

The complete technical report documenting the PEA will be filed within 45 days of this news release and will be available on Panoro’s website and on SEDAR. The technical report will be authored by the following Qualified Persons

About Panoro

Panoro Minerals is a uniquely positioned Peru focused copper exploration and development company. The Company is advancing its flagship project, Cotabambas Copper-Gold-Silver Project and its Antilla Copper-Molybdenum Project, both located in the strategically important area of southern Peru. The Company is well financed to expand, enhance and advance its projects in the region where infrastructure such as railway, roads, ports, water supply, power generation and transmission are readily available and expanding quickly.  The region boasts the recent investment of over US$15 billion into the construction or expansion of four large open pit copper mines.

Since 2007, the Company has completed over 80,000 meters of exploration drilling at these two key projects leading to substantial increases in the mineral resource base for each, as summarized in the table below.

Preliminary Economic Assessments (PEA) have been completed for both the Cotabambas and Antilla Projects, the key results are summarized below.

The PEAs are considered preliminary in nature and include Inferred Mineral Resources that are considered too speculative to have the economic considerations applied that would enable classification as Mineral Reserves. There is no certainty that the conclusions within the updated PEA will be realized. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.

Luis Vela, a Qualified Person under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.

CAUTION REGARDING FORWARD LOOKING STATEMENTS:   Information and statements contained in this news release that are not historical facts are “forward-looking information” within the meaning of applicable Canadian securities legislation and involve risks and uncertainties.

Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ materially from those expressed or implied by the forward-looking statements, including, without limitation:

  • risks relating to metal price fluctuations;
  • risks relating to estimates of mineral resources, production, capital and operating costs, decommissioning or reclamation expenses, proving to be inaccurate;
  • the inherent operational risks associated with mining and mineral exploration, development, mine construction and operating activities, many of which are beyond Panoro’s control;
  • risks relating to Panoro’s ability to enforce Panoro’s legal rights under permits or licenses or risk that Panoro’s will become subject to litigation or arbitration that has an adverse outcome;
  • risks relating to Panoro’s projects being in Peru, including political, economic and regulatory instability;
  • risks relating to the uncertainty of applications to obtain, extend or renew licenses and permits;
  • risks relating to potential challenges to Panoro’s right to explore and/or develop its projects;
  • risks relating to mineral resource estimates being based on interpretations and assumptions which may result in less mineral production under actual circumstances;
  • risks relating to Panoro’s operations being subject to environmental and remediation requirements, which may increase the cost of doing business and restrict Panoro’s operations;
  • risks relating to being adversely affected by environmental, safety and regulatory risks, including increased regulatory burdens or delays and changes of law;
  • risks relating to inadequate insurance or inability to obtain insurance;
  • risks relating to the fact that Panoro’s properties are not yet in commercial production;
  • risks relating to fluctuations in foreign currency exchange rates, interest rates and tax rates; and
  • risks relating to Panoro’s ability to raise funding to continue its exploration, development and mining activities.

This list is not exhaustive of the factors that may affect the forward-looking information and statements contained in this news release.  Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward‑looking information.  The forward‑looking information contained in this news release is based on beliefs, expectations and opinions as of the date of this news release.  For the reasons set forth above, readers are cautioned not to place undue reliance on forward-looking information.  Panoro does not undertake to update any forward-looking information and statements included herein, except in accordance with applicable securities laws.

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

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Treasury Metals Inc. Provides Update on the Audit of Flow-Through Financings by CRA

Treasury Metals Inc. (TSX: TML) (OTCQX: TSRMF) (the “Company” – https://www.youtube.com/watch?v=XxDAi5JFA1Q&index=2&list=PLBpDlKjdv3yry8w88yLZze1HW6r33zYSb&t=2s) is providing additional information further to its 2017 year-end financial statements regarding notification by the Canada Revenue Agency (the “CRA”) of its determination in respect of the flow-through spending audit (the “Audit”) commenced by the CRA in December 2016  regarding certain expenditures incurred by the Company in the years 2012, 2013, and 2014 that were characterized by the Company as “Canadian Exploration Expenses” (“CEE”) for purposes of the Income Tax Act (Canada).  

Specifically, on March 7, 2018 the Company was advised by the CRA that the CRA had reclassified approximately $1.8 million of CEE to operating expenses, out of the total $12.5 million the Company raised through “flow-through share” offerings (within the meaning of such term in the Income Tax Act (Canada)) completed on December 6, 2011, September 21, 2012, May 1, 2013, and December 20, 2013 (the “Flow-Through Financings”) and  renounced to subscribers (the “Subscribers”) by the Company pursuant to the applicable subscription and renunciation agreements entered into with Subscribers.  The Company understands from the Part XII.6 assessment described below that a further approximately $2.2 million of CEE has been reclassified by the CRA to Canadian Development Expenses (“CDE”).  The CRA has advised the Company that a review of the financings completed prior to, or subsequent to, the Flow-Through Financings is not contemplated at this time.

In addition, pursuant to the Audit, the CRA has notified the Company that it is liable for Part XII.6 tax in the amount of $477,726 in connection with the shortfall from the disallowed CEE. The Company understands that this amount reflects a reclassification by the CRA of the approximately $4.0 million of CEE renounced to Subscribers in connection with the Flow-Through Financings to either operating expenses or CDE.

The Company disputes the CRA’s proposed recharacterizations of expenses from CEE to either CDE or operating expenses and consequently intends to object to such CRA determinations.

Background

The Company raised the flow-through funds in the Flow-Through Financings to facilitate exploration of its Goliath Gold Project in northwestern Ontario. All of the funds raised pursuant to these Flow-Through Financings were expended by the Company on exploration and other ancillary activities in respect of the Goliath Gold Project and were subsequently renounced to Subscribers in accordance with the subscription and renunciation agreements entered into with Subscribers.

This reclassification, subject to the Company’s objection (as discussed above), could result in each Subscriber that claimed a deduction for such renounced CEE potentially being assessed with tax and interest owing on the disallowed amount, subject to the particulars of such assessment (if any) being dependent on the applicable tax rate and individual tax circumstances of each Subscriber. Pursuant to the terms of the subscription and renunciation agreements entered into by the Company and the Subscribers pursuant to the Flow-Through Financings, the Company has agreed to indemnify the Subscribers for certain amounts should the CRA reassess such Subscribers for tax attributable to the disallowed renunciation of CEE. The ultimate quantum of the Company’s liability with respect to this indemnification obligation cannot currently be accurately determined.

This press release and the accompanying material change report have been filed in connection with a continuous disclosure review conducted by the Ontario Securities Commission and it remedies the non-filing of this press release and accompanying material change report as of the date of receipt of the March 7, 2018 letter from the CRA.

Forward-looking Statements

This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that have yet to occur, including those pertaining to the status and potential liability associated with the CRA audit are forward-looking statements. Actual results or developments may differ materially from those in forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.

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Sibanye-Stillwater receives South African Reserve Bank approval for proposed acquisition of Lonmin

Sibanye-Stillwater is pleased to announce that it has received the approval of the South African Reserve Bank, as required in accordance with the Exchange Control Regulations of South Africa, with respect to the proposed acquisition of Lonmin Plc (“Lonmin”), which was announced on 14 December 2017 (the “Proposed Transaction”).

The Proposed Transaction remains scheduled for closure during the second calendar half of 2018 and subject to, inter alia, the passing of the required resolutions by Lonmin and Sibanye-Stillwater shareholders and the approvals of the competition authorities of the United Kingdom and South Africa.

Neal Froneman, CEO of Sibanye-Stillwater said “We are pleased to have received this important regulatory approval in a timely manner, which takes us another step closer to concluding this important transaction. Management remains focused on ensuring that the remaining conditions are met and will notify stakeholders as further progress is made.”

FORWARD LOOKING STATEMENTS

This announcement includes “forward-looking statements” within the meaning of the “safe harbour” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “target”, “will”, “forecast”, “expect”, “potential”, “intend”, “estimate”, “anticipate”, “can” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. The forward-looking statements set out in this announcement involve a number of known and unknown risks, uncertainties and other factors, many of which are difficult to predict and generally beyond the control of Sibanye-Stillwater, that could cause Sibanye-Stillwater’s actual results and outcomes to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. These forward-looking statements speak only as of the date of this announcement. Sibanye-Stillwater undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this announcement or to reflect the occurrence of unanticipated events, save as required by applicable law.

Additional Information

The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law. Persons who are not resident in the United Kingdom or who are subject to the laws of other jurisdictions should inform themselves of, and observe, any applicable requirements. Any failure to comply with applicable requirements may constitute a violation of the securities law of any such jurisdiction.

This announcement is not intended to, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities whether pursuant to this announcement or otherwise.

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First Cobalt Announces Upcoming Keynote Presentation

First Cobalt Corp. (TSX-V: FCC, ASX: FCC, OTCQX: FTSSF) (the “Company”) today announces President and CEO Trent Mell will be giving a keynote presentation on the cobalt market supply and demand fundamentals at a Benchmark Mineral Intelligence event in Vancouver on Wednesday, May 16, 2018 at 11:30 a.m.

The presentation will take place within the Benchmark Pavilion at the International Mining Investment Conference Vancouver at the Vancouver Convention Centre East. The Pavilion will focus on the lithium-ion battery and electric vehicle markets. Mr. Mell’s presentation will include a review of cobalt exploration and development projects in the context of increasing demand for cobalt in the drive towards vehicle electrification. 

To register for free to attend the Benchmark Mineral Intelligence Pavilion, visit https://www.eventbrite.com/e/benchmark-world-tour-2018-vancouver-tickets-41699263620. Separate registration is required for the Cambridge House International Mining Investment Conference 2018, available here http://cambridgehouse.com/e/international-mining-investment-conference-2018-73/register, but is not necessary to attend the BMI Pavilion.

First Cobalt recently announced a friendly merger with US Cobalt Inc. (TSX-V: USCO, OTCQB: USCFF) that will strategically position First Cobalt as a leading non-DRC cobalt company with three significant North American assets: the Canadian Cobalt Camp, with more than 50 past producing mines; the Iron Creek Project in Idaho, which has a historic mineral resource estimate (non-compliant with NI 43-101) of 1.3M tons grading 0.59% cobalt; and the only permitted cobalt refinery in North America capable of producing battery materials. US Cobalt shareholders will vote on the transaction on May 17, 2018 and the transaction expected to close by the end of May 2018.

About First Cobalt

First Cobalt aims to create the largest pure-play cobalt exploration and development company in the world. The Company controls over 10,000 hectares of prospective land covering over 50 historic mines as well as mineral processing facilities in the Cobalt Camp in Ontario, Canada. The First Cobalt Refinery is the only permitted facility in North America capable of producing cobalt battery materials.

First Cobalt seeks to build shareholder value through new discovery, mineral processing and growth opportunities, with a focus on North America.

 

For more information visit www.firstcobalt.com

Cautionary Note Regarding Forward-Looking Statements

This news release may contain forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “expects‘, “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved”. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance and opportunities to differ materially from those implied by such forward-looking statements. In particular, forward-looking information included in this news release includes, without limitation, the anticipated closing date of the Transaction, the receipt of final court approval and other regulatory approvals. Factors that could cause actual results to differ materially from these forward-looking statements are set forth in the management discussion and analysis and other disclosures of risk factors for each of First Cobalt and US Cobalt, filed on SEDAR at www.sedar.com. Although First Cobalt and US Cobalt believe that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, First Cobalt and US Cobalt disclaim any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Historic Estimates

US Cobalt considers the cobalt and copper tonnage and grade estimates above as historical estimates. The historical estimates do not use categories that conform to current CIM Definition Standards on Mineral Resources and Mineral Reserves as outlined in National Instrument 43-101, Standards of Disclosure for Mineral Projects (“NI 43-101”) and have not been redefined to conform to current CIM Definition Standards. They were prepared in the 1980s prior to the adoption and implementation of NI 43-101. A qualified person has not done sufficient work to classify the historical estimates as current mineral resources and US Cobalt is not treating the historical estimates as current mineral resources. More work, including, but not limited to, drilling, will be required to conform the estimates to current CIM Definition Standards. Investors are cautioned that the historical estimates do not mean or imply that economic deposits exist on the Iron Creek property. US Cobalt has not undertaken any independent investigation of the historical estimates nor has it independently analyzed the results of the previous exploration work in order to verify the accuracy of the information. US Cobalt believes that the historical estimates are relevant to continuing exploration on the Iron Creek property.

 

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Caledonia Mining Corporation Plc Results for the Quarter ended 31 March 2018

Caledonia Mining Corporation Plc (“Caledonia” or the “Company” – https://www.youtube.com/watch?v=QYYGO-DNYsM&list=PLBpDlKjdv3yq3mPe4_-LvOr9_6ij_XRiM&index=6 ) announces its operating and financial results for the first quarter of 2018 (“Q1” or the “Quarter”).

Gold production in the Quarter was 12,924 ounces, marginally higher than the first quarter of 2017 and in-line with expectations.  Adjusted earnings per share of 40.1 cents were 51% higher than the corresponding figure in 2017, largely due to a higher realised gold price, and the increased export credit incentive. Operating cash flows for the Quarter were $7 million and the Company’s balance sheet remains strong with net cash of $13.4 million as at 31 March 2018.

Commenting on the results, Steve Curtis, Caledonia’s Chief Executive Officer said:

“The first quarter of 2018 was one of very strong cash generation at Blanket.  The business generated operating cash flows after tax of $7 million which supported capital investment in the mine of $5.2 million and an increase in our cash balance at the end of the quarter to $13.4 million. As we continue to grow production to our target of 80,000 ounces by 2021, maintain cost control and benefit from economies of scale we look forward to further increasing cash flows and earnings.

“Gold production was marginally higher in the Quarter compared to the first quarter of 2017 and was in-line with our expectations.  We expect that production will deliver the usual increase in the second half of the year as we see the benefit of the increased level of mine development in the first half of the year, which will improve our access to higher grade areas.

“Profits in the Quarter benefitted from an 8% increase in the average realised gold price and a 3% reduction in all-in sustaining costs to $832 per ounce which contributed to a 10% increase in gross profit and a 35% increase in net attributable profit. On mine costs were marginally higher at $687 per ounce due to various operational factors which we expect to be addressed as the Central Shaft project is commissioned in 2020. Profit and cash flow were also boosted by the Government of Zimbabwe increasing the Export Credit Incentive (“ECI”) from 2.5% to 10% of revenue with effect from 1 February 2018.

“Regrettably our safety performance during the quarter was marred by a fatal accident at the mine on the 23 February 2018. My fellow directors and I express our sincere condolences to the family and friends of the deceased. The Company has embarked upon renewed efforts in the business to improve our safety performance.

“The Central Shaft remains a key enabler of long term value of the business and I am pleased to report that the project is progressing on schedule and within budget and importantly, remains fully funded by operating cash flow. For our technical team to deliver production and a transformational project for the business is a significant achievement. Following the decision to extend the shaft sinking project in November of 2017 the shaft has now reached 30 Level (990 metres) and work has commenced on establishing the station on this level.

“The operating environment and the investment climate in Zimbabwe continue to improve with government showing very pleasing levels of support of the mining industry, including the increase in the ECI for gold producers.  The Zimbabwe gold sector offers exciting opportunities but is in need of significant capital investment. In March, the government enacted legislation which completely removed the requirement for gold producers to implement indigenisation which has created the opportunity for Caledonia to potentially increase its stake in the Blanket Mine subject to agreement with our local partners. We have been encouraged by the level of support that the new leadership has shown for the mining sector and the Zimbabwean economy in general and look forward to the opportunities that the improving macroeconomic environment in Zimbabwe is likely to present.

“We maintain our guidance of 55,000 to 59,000 ounces for the full year and earnings guidance of between 165 cents and 190 cents per share.”

Strategy and Outlook

Caledonia remains on track to achieve the production target of 80,000 ounces by 2021 at its Zimbabwean subsidiary, Blanket Mine. The Company’s strategic focus continues to be the implementation of the Investment Plan at Blanket, which was announced in November 2014 and is expected to extend the life of mine by providing access to deeper levels for production and further exploration.  Implementation of the Investment Plan remains on target in terms of timing and cost.  Caledonia’s board and management believe the successful implementation of the Investment Plan is in the best interests of all stakeholders because it is expected to result in increased production, reduced operating costs and greater flexibility to undertake further exploration and development, thereby safeguarding and enhancing Blanket’s long-term future.  Caledonia’s cash position is expected to improve as a result of the implementation of the Investment Plan; Caledonia will continue to assess new opportunities to invest surplus cash.

Dividend Policy

On 4 July 2017, following the consolidation on 26 June 2017 of the Company’s shares, the Company announced an increased quarterly dividend of 6.875 cents per share which was paid on 28 July 2017 and further quarterly dividends of the same amount were paid on 27 October 2017, 26 January 2018 and 27 April 2018. The dividend of 6.875 cents per share effectively maintains the dividend at the previous level of 1.375 cents per share, after adjusting for the effect of the one-for-five share consolidation. The quarterly dividend of 6.875 cents is Caledonia’s current dividend policy which it is envisaged will be maintained.

Following the implementation of indigenisation in September 2012, Caledonia owns 49 per cent of the Blanket Mine in Zimbabwe. Caledonia continues to consolidate Blanket and the operational and the financial information set out below is on a 100 per cent basis unless otherwise indicated.

Cautionary Note Concerning Forward-Looking Information

Information and statements contained in this news release that are not historical facts are “forward-looking information” within the meaning of applicable securities legislation that involve risks and uncertainties relating, but not limited to Caledonia’s current expectations, intentions, plans, and beliefs.  Forward-looking information can often be identified by forward-looking words such as “anticipate”, “believe”, “expect”, “goal”, “plan”, “target”, “intend”, “estimate”, “could”, “should”, “may” and “will” or the negative of these terms or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Examples of forward-looking information in this news release include: production guidance, estimates of future/targeted production rates, and our plans and timing regarding further exploration and drilling and development.  This forward-looking information is based, in part, on assumptions and factors that may change or prove to be incorrect, thus causing actual results, performance or achievements to be materially different from those expressed or implied by forward-looking information.  Such factors and assumptions include, but are not limited to: failure to establish estimated resources and reserves, the grade and recovery of ore which is mined varying from estimates, success of future exploration and drilling programs, reliability of drilling, sampling and assay data, assumptions regarding the representativeness of mineralization being inaccurate, success of planned metallurgical test-work, capital and operating costs varying significantly from estimates, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and other factors.

Potential shareholders and prospective investors should be aware that these statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements.  Such factors include, but are not limited to: risks relating to estimates of mineral reserves and mineral resources proving to be inaccurate, fluctuations in gold price, risks and hazards associated with the business of mineral exploration, development and mining, risks relating to the credit worthiness or financial condition of suppliers, refiners and other parties with whom the Company does business; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards, employee relations; relationships with and claims by local communities and indigenous populations; political risk; availability and increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development, including the risks of obtaining or maintaining necessary licenses and permits, diminishing quantities or grades of mineral reserves as mining occurs; global financial condition, the actual results of current exploration activities, changes to conclusions of economic evaluations, and changes in project parameters to deal with unanticipated economic or other factors, risks of increased capital and operating costs, environmental, safety or regulatory risks, expropriation, the Company’s title to properties including ownership thereof, increased competition in the mining industry for properties, equipment, qualified personnel and their costs, risks relating to the uncertainty of timing of events including targeted production rate increase and currency fluctuations.  Shareholders are cautioned not to place undue reliance on forward-looking information.  By its nature, forward-looking information involves numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and various future events will not occur.  Caledonia undertakes no obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

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Further update to the tragic seismic incident at Sibanye-Stillwater’s Driefontein operations

Further to the announcement on 7 May 2018, regarding the tragic seismic incident at the Masakhane mine, Driefontein operations, Sibanye-Stillwater (Tickers JSE: SGL and NYSE: SBGL – https://www.youtube.com/watch?v=4F3Fgg9xMOY&t=4s ) is pleased to report that one of the six employees who was hospitalised due the incident, has been discharged and is in good health. The other five rescued employees remain in a stable condition and are making good progress. The Company will continue to ensure that these employees receive appropriate medical attention and ongoing support and counselling.

Sibanye-Stillwater management has been focused over the course of the past week on ensuring the wellbeing and providing support to the families, friends and colleagues of the deceased and injured employees. A well-attended memorial service involving the Minister of Mineral Resources, the Sibanye-Stillwater Board, management and union leaders was held at Driefontein yesterday, with funeral and remembrance services for the deceased employees, scheduled for the coming weekend.

Sibanye-Stillwater management will be conducting a thorough investigation across the entire Masakhane mine, in order to assess the impact on the operations, of the numerous seismic events that occurred during the last week.

The underground inspection is expected to take approximately one week, and operations at the Masakhane mine will remain suspended during this period. Production from the rest of the mines making up the Driefontein operations will continue as normal.

Planned gold production from the Driefontein operations is approximately 50kg of gold per day, with the Masakhane mine comprising approximately 20% or 11kg (354oz) per day. Since the incident occurred on Thursday 3 May 2018, approximately 230kg (7,395oz) of planned gold production is estimated to have been lost. In 2017 Sibanye-Stillwater’s SA Gold operations produced 43,634kg (1.4 million oz) of gold.

Background on the incident:

A seismic event (recording a local magnitude of 2.5) occurred on the western side of the Driefontein operations at approximately 12:15 on Thursday, 3 May 2018. Immediately after the location (epicentre) of this seismic event was identified by Sibanye-Stillwater’s extensive underground seismic monitoring systems, the teams working in the western side were contacted to ascertain if there had been any related safety concerns. One of the teams did not respond on the first call, and a rescue process was immediately triggered.  An emergency control room was established and paramedics and mine rescue teams deployed to the mine. The unaccounted for team subsequently responded and it was established that the installed support and other safety systems in the area had prevented significant damage, and as a result, there were no injuries or safety issues resulting from the seismic event. 

A mine rescue team had already been deployed and was making its way underground, when an unrelated second seismic event (recording a local magnitude of 2.2) occurred at about 13:20, on the eastern side of the Masakhane mine approximately 2.5km away from the first event.

Although of a lower magnitude than the first event, the second seismic event caused a working stope (40 level,-27 East, 7 West panel), which was close to the epicentre of the seismic event to be inundated with loose rocks, trapping 13 employees working in the stope. No other stopes in the mine were affected and all remaining employees at Driefontein were safely evacuated from the underground operations.

Shortly after the incident, rescue efforts began in earnest.  All relevant stakeholders including the DMR and unions were alerted about the incident and once the missing employees had been identified, efforts to contact their families were made. The families were offered transport to the mine, where they received regular updates on the rescue mission, and support, trauma counselling and medical care.

Specially trained rescue teams from Mine Rescue Services, supported by Sibanye-Stillwater employees and guided by management in the emergency control room, worked relentlessly in extremely challenging conditions, for more than 40 hours to rescue and recover the missing employees, with the last employee being recovered at about 07:30 on Saturday 5 May 2018. The fact that there were no further injuries despite the trying conditions, is testament to the training and commitment of these teams. We would like to thank all of the Mine Rescue Services brigadesmen from across the SA Mining industry, who volunteered for this essential service. A special note of appreciation goes to our own employees who volunteered and worked non-stop through the entire rescue period alongside the Mine Rescue Services brigadesmen. You are all true heroes. 

Blasting operations were suspended across the Driefontein operations following the seismic event. Blasting operations subsequently resumed at the unaffected Driefontein mines on Saturday, 5 May 2018.

FORWARD LOOKING STATEMENTS
This announcement includes “forward-looking statements” within the meaning of the “safe harbour” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “target”, “will”, “forecast”, “expect”, “potential”, “intend”, “estimate”, “anticipate”, “can” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. The forward-looking statements set out in this announcement involve a number of known and unknown risks, uncertainties and other factors, many of which are difficult to predict and generally beyond the control of Sibanye-Stillwater, that could cause Sibanye-Stillwater’s actual results and outcomes to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. These forward-looking statements speak only as of the date of this announcement. Sibanye-Stillwater undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this announcement or to reflect the occurrence of unanticipated events, save as required by applicable law.

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Nutanix Flow: softwaregesteuerte Netzwerklösungen für sichere Anwendungen mit einem Klick

Nutanix (NASDAQ: NTNX), Spezialist für Enterprise Cloud Computing, hat auf seiner .NEXT-Konferenz in New Orleans Nutanix Flow vorgestellt – eine softwaregesteuerte Netzwerklösung (software-defined networking, kurz SDN), die speziell für die Multi-Cloud-Ära entwickelt wurde. Sie bietet anwendungszentrierte Sicherheit zum Schutz vor internen und externen Bedrohungen, die von herkömmlichen Perimeter-orientierten Sicherheitslösungen nicht erkannt werden. Die Flow-Funktionen sind vollständig in die Acropolis-Software von Nutanix integriert und werden künftig durch die Technologie zur Echtzeit-Anwendungssichtbarkeit und -Erkennung ergänzt werden, die durch die kürzlich erfolgte Übernahme von Netsil zur Verfügung steht. Mit Nutanix Flow lässt sich Anwendungssicherheit ohne weitere Eingriffe automatisiert einrichten und managen.

IT-Abteilungen von Unternehmen nutzen heutzutage Cloud-basierte Infrastrukturen, um moderne Geschäftsanwendungen zu implementieren, von denen viele aus unterschiedlichen, aber miteinander verbundenen Diensten bestehen. Der Schutz dieser Anwendungen erfordert die Mikrosegmentierungs-Funktionen von Nutanix Flow, das anwendungsspezifische Richtlinien zur Steuerung der Kommunikation zwischen einzelnen Anwendungsdiensten durchsetzt. Nutanix wird außerdem die Stream-Processing-, Application-Discovery- und Mapping-Technologie von Netsil nutzen, um die Definition von Sicherheitsrichtlinien für Anwendungen sowohl in öffentlichen als auch in privaten Clouds zu vereinfachen. IT-Abteilungen und Fachbereichsleiter können darauf vertrauen, dass ihre Geschäftsanwendungen sowohl vor internen als auch externen Bedrohungen geschützt sind.

„Die nächste Entwicklungsstufe des Networking besteht darin, für Netzwerktransparenz zu sorgen, damit Kunden ihre Daten im Blick behalten und analysieren, die Leistung ihrer Anwendungen in der Cloud steigern und ihre Ressourcen optimieren können“, so Harjot Gill, Senior Director, Product & Engineering bei Nutanix. „Wir haben hart daran gearbeitet, Netsils innovative Funktionalität in Nutanix Flow zu integrieren. Wir sind stolz darauf, dass unsere Kunden demnächst in der Lage sein werden, von unserer führenden Technologie in Sachen Transparenz und Discovery zu profitieren.“

Als Bestandteil des „Nutanix Enterprise Cloud OS“ umfasst Nutanix Flow folgende Funktionen:
 

  • Netzwerkvisualisierung: bietet Anwendungsverantwortlichen einen sofortigen Überblick über Netzwerkleistung und Verfügbarkeit pro Anwendung.
  • Anwendungszentrierte Mikrosegmentierung: bietet granulare Kontrolle und Steuerung für den gesamten Anwendungsverkehr, um sensible Workloads und Daten zu schützen.
  • Einfügen und Verketten von Diensten: integriert zusätzliche Netzwerkfunktionen verschiedenster Partnerunternehmen, die Teil des „Network Ready Ecosystem“ sind, in eine einzige Netzwerkrichtlinie.
  • Netzwerkautomatisierung: optimiert und automatisiert häufige Änderungen der Netzwerkkonfiguration, beispielsweise Änderungen an der VLAN-Konfiguration oder an Load-Balancer-Richtlinien – auf Basis von Anwendungslebenszyklus-Ereignissen für virtuelle Maschinen, die auf Nutanix AHV ausgeführt werden.

Um Innovationen und Agilität im Infrastrukturbereich zu beschleunigen, empfiehlt Gartner den Verantwortlichen für Infrastruktur und Betrieb, „Netzwerkautomatisierungs-, Visualisierungs- und Optimierungsfunktionen zu einem integralen Bestandteil ihres Auswahlprozesses zu machen und diejenigen Anbieter zu priorisieren, die eine anwendungsspezifische Sicht auf die Cluster-Leistung liefern.“ (Gartner Research, Four Factors That Will Shape the Future of Hyperconverged Infrastructure. März 2018)

„Mit Nutanix Flow vervollständigen wir unser Ziel, die IT-Infrastruktur unsichtbar zu machen“, erläutert Sunil Potti, Chief Product & Development Officer bei Nutanix. „Bei der Vereinfachung des Netzwerks haben wir einen modernen Ansatz gewählt, um sowohl die Unternehmensanwendungen als auch die innovativen Cloud-nativen Dienste transparent machen und steuern zu können. Das Enterprise-Cloud-Betriebssystem von Nutanix konvergiert jetzt die Rechen-, Speicher-, Virtualisierungs- und Netzwerk-Ressourcen, um so gut wie jede Anwendung unabhängig von ihrem Ressourcenverbrauch zu betreiben.“

Informationen zur Verfügbarkeit

Nutanix Flow ist ab sofort verfügbar. Zusätzliche Funktionen zu Netzwerktransparenz und Anwendungserkennung, die auf der kürzlich erworbenen Netsil-Technologie basieren, befinden sich in der Entwicklung.

Weitere Informationen zu Nutanix Flow sind auf der Nutanix-Website und im Nutanix-Blog erhältlich.

Illustrationen zu Nutanix Flow sind unter folgendem Link abrufbar: https://dataspace.m-net.de/#/public/shares-downloads/SGosoqjx87sXSTzjZEqvQVimwNeSWGFz

Forward-Looking Disclaimer

This press release includes forward-looking statements, including but not limited to statements concerning our plans and expectations relating to new products, services, product features and technology that are under development or in process and capabilities of such new products, services, product features and technology, our plans to introduce new products, services or product features in the future, the integration of newly acquired technology and products, pricing for future products, services and technology, product performance, competitive position and potential market opportunities. These forward-looking statements are not historical facts, and instead are based on our current expectations, estimates, opinions and beliefs. The accuracy of such forward-looking statements depends upon future events, and involves risks, uncertainties and other factors beyond our control that may cause these statements to be inaccurate and cause our actual results, performance or achievements to differ materially and adversely from those anticipated or implied by such statements, including, among others: failure to develop, or unexpected difficulties or delays in developing, new product features or technology on a timely or cost-effective basis; delays in or lack of customer or market acceptance of our new product features or technology; the introduction, or acceleration of adoption of, competing solutions, including public cloud infrastructure; a shift in industry or competitive dynamics or customer demand; and other risks detailed in our Form 10-Q for the fiscal quarter ended January 31, 2018, filed with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this presentation and, except as required by law, we assume no obligation to update forward-looking statements to reflect actual results or subsequent events or circumstances.

© 2018 Nutanix, Inc. Alle Rechte vorbehalten. Nutanix, Enterprise Cloud Platform, das Nutanix-Logo und die anderen hier aufgeführten Nutanix-Produkte und -Funktionen sind in den Vereinigten Staaten von Amerika und anderen Ländern eingetragene Handelsmarken oder Handelsmarken der Nutanix, Inc. Alle anderen hier erwähnten Markennamen dienen ausschließlich der Identifizierung und können Handelsmarken ihrer(s) jeweiligen Eigentümer(s) sein.

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Datenbank-Dienste mit Nutanix Era

Nutanix (NASDAQ: NTNX), Spezialist für Enterprise Cloud Computing, hat auf seiner .NEXT-Konferenz in New Orleans Nutanix Era vorgestellt. Dabei handelt es sich um eine Reihe neuer Platform-as-a-Service (PaaS)-Angebote zur Rationalisierung und Automatisierung von Datenbank-Operationen. Mit deren Hilfe können sich Datenbank-Administratoren auf Initiativen konzentrieren, die das Geschäft vorantreiben. Era erweitert den Software-Stack des Enterprise-Cloud-Betriebssystems von Nutanix über die zentralen Infrastructure-as-a-Service (IaaS)-Funktionen für Private-Cloud-Umgebungen hinaus auf Plattform-Layer-Services, welche das von Nutanix bekannte Ein-Klick-Prinzip für Datenbank-Operationen ermöglichen. Die erste Version der Lösung wird umfangreiche Copy-Data-Management-Dienste bieten, um der zunehmenden Komplexität und den hohen Kosten Rechnung zu tragen, die mit der Verwaltung mehrerer Datenbank-Kopien in einem Unternehmen verbunden sind.

Mit Era zielt Nutanix auf einen der größten Posten ab, der für den Verbrauch von Speicherkapazitäten in Unternehmen verantwortlich ist. Laut IDC werden 60 Prozent der gesamten Speicherkapazität nur für das Speichern von Datenkopien aufgewendet. Bis zum Jahr 2020 sollen die Gesamtkosten für die Speicherung kopierter Daten etwa 55 Milliarden US-Dollar betragen. Mittels Nutanix Era können Unternehmen die Speicherungskosten senken, das Management, die Kontrolle und Sicherheit von Daten vereinfachen und gleichzeitig die Komplexität von Operationen während des Datenbank-Lebenszyklus senken.

Der Copy-Data-Management-Service von Nutanix Era unterstützt zunächst Oracle- und Postgres-Datenbank-Engines, die Unterstützung weiterer gängiger Datenbanken ist geplant. Auf Basis der Snapshot-Technologie von Nutanix wird Era auch neue Time-Machine-Funktionen zusammen mit anwendungsspezifischen APIs zur Erstellung von Point-in-Time-Datenbankkopien integrieren. Dadurch können Anwendungsentwickler in kurzer Zeit genau die jeweils benötigte Datenbankkopie auswählen, während Datenbankadministratoren beliebige Datenbankinstanzen wiederherstellen oder aktualisieren können – in der Gewissheit, dass jede aufgezeichnete Transaktion erfasst wird. Zu einem späteren Zeitpunkt wird diese Technologie um Funktionalitäten für eine vollständige Provisionierung von Datenbanken erweitert. Dadurch entsteht eine vollständige Lifecycle-Management-Lösung für alle Datenbanken in einer Organisation.

Zu den wichtigsten Funktionen zählen:
 

  • One-Click-Time-Machine: Era nutzt die integrierte Nutanix-Snapshot-Technologie, um platzsparende Datenbank-Momentaufnahmen zu erstellen. Das ermöglicht es, die Investitionskosten (Capital Expenses, kurz CapEx) zu senken und die auf Nutanix laufenden Datenbanken zu einem bestimmten Zeitpunkt klonen oder wiederherstellen zu können – und zwar bis zur letzten aufgezeichneten Transaktion.
  • One-Click-Clone/-Refresh: Nutanix Era senkt die Betriebskosten (Operating Expenses, kurz OpEx) durch One-Click-Operationen zum Klonen und Wiederherstellen von Datenbanken, die nur wenige Minuten dauern und alle anvisierten Datenbanktransaktionen umfassen. Durch die Automatisierung des Datenbank-Klonens entfällt der komplexe und zeitraubende Prozess, einen bestimmten Snapshot oder die richtigen Datenbankprotokolle zu finden und anschließend eine Datenbankwiederherstellung einzuleiten.

„Nutanix Era ersetzt unsere komplexen und kostspieligen Prozesse zum Kopieren von Daten, die sich auf die IT-Produktivität auswirken und unsere App-Entwickler bremsen. Nutanix Era sollte uns dadurch Zeit und Kosten sparen“, so Mark Maplethorpe, EMEA Hosting Manager bei Bottomline Technologies. „Wir arbeiten intensiv mit Nutanix zusammen, um sicher zu stellen, dass Era die Provisionierung und das Management des Lebenszyklus unserer Datenbanken optimiert. Dadurch können unsere Teams mehr Zeit auf strategische IT-Projekte verwenden.“

Informationen zur Verfügbarkeit

Nutanix Era wird derzeit von ausgewählten Kunden getestet und soll in der zweiten Hälfte 2018 verfügbar sein. Die Preisangaben werden um das Release-Datum herum bekanntgegeben.

Weitere Informationen zu Nutanix Era sind auf der Nutanix-Website und im Nutanix-Blog erhältlich.

Illustrationen zu Nutanix Era sind unter folgendem Link abrufbar: https://dataspace.m-net.de/#/public/shares-downloads/SGosoqjx87sXSTzjZEqvQVimwNeSWGFz

Forward-Looking Disclaimer

This press release includes forward-looking statements, including but not limited to statements concerning our plans and expectations relating to new products, services, product features and technology that are under development or in process and capabilities of such new products, services, product features and technology, our plans to introduce new products, services or product features in the future, the integration of newly acquired technology and products, pricing for future products, services and technology, product performance, competitive position and potential market opportunities. These forward-looking statements are not historical facts, and instead are based on our current expectations, estimates, opinions and beliefs. The accuracy of such forward-looking statements depends upon future events, and involves risks, uncertainties and other factors beyond our control that may cause these statements to be inaccurate and cause our actual results, performance or achievements to differ materially and adversely from those anticipated or implied by such statements, including, among others: failure to develop, or unexpected difficulties or delays in developing, new product features or technology on a timely or cost-effective basis; delays in or lack of customer or market acceptance of our new product features or technology; the introduction, or acceleration of adoption of, competing solutions, including public cloud infrastructure; a shift in industry or competitive dynamics or customer demand; and other risks detailed in our Form 10-Q for the fiscal quarter ended January 31, 2018, filed with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this presentation and, except as required by law, we assume no obligation to update forward-looking statements to reflect actual results or subsequent events or circumstances.

© 2018 Nutanix, Inc. Alle Rechte vorbehalten. Nutanix, Enterprise Cloud Platform, das Nutanix-Logo und die anderen hier aufgeführten Nutanix-Produkte und -Funktionen sind in den Vereinigten Staaten von Amerika und anderen Ländern eingetragene Handelsmarken oder Handelsmarken der Nutanix, Inc. Alle anderen hier erwähnten Markennamen dienen ausschließlich der Identifizierung und können Handelsmarken ihrer(s) jeweiligen Eigentümer(s) sein.

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Zinc One Reports Additional High-Grade Drill Results At Mina Grande Sur, Bongará Zinc Mine Project, Peru

Zinc One Resources Inc. (TSX-V: Z; OTC Markets: ZZOF; Frankfurt: RH33 – “Zinc One” or the “Company” – https://www.youtube.com/watch?v=4D9jgUm6sGA&t=71s ) is pleased to announce additional drill results from the Mina Grande Sur zone at its Bongará Zinc Mine project located in north-central Peru.  To date, 81 drill holes for 1,810.6 metres have been drilled (see map below in Figure 1.), from which assays have been received for 24 holes.  The table below summarizes results from nine holes that are located at the southern end of Mina Grande Sur.  These holes focused on the delineation of mineralization to the south.

Jim Walchuck, President and CEO of Zinc One commented, “While this portion of the Mina Grande Sur drill program was designed to determine the extent of the mineralization, we have been pleasantly surprised to obtain these additional high-grade intersections.  The pit sampling and historic drilling encountered lengthy high-grade zinc intercepts which have been further delineated by the drill program.  The results attest to the robustness of Mina Grande Sur and will contribute to the upcoming resource calculation.”

Mina Grande Sur Drill Results Highlights:

  • Results from 11 holes were reported previously (see news release from March 29, 2018)
  • Significant new intercepts include:
    • MGS18016 – 4.7 metres of 26.1% zinc, from surface
    • MGS18017 – 8.2 metres of 42.7% zinc, from 7.5 metres drill depth
      • True vertical thickness of 5.8 metres from true vertical depth of 5.3 metres
    • MCH18020 – 20.5 metres of 34.3% zinc, from surface
      • True vertical thickness of 14.5 metres
    • Mineralization at Mina Grande Sur includes zinc oxides, carbonates and silicates hosted by soils, highly-weathered carbonates, and fine- to coarse-grained dolomites.

Mina Grande Sur is one of three known zones of high-grade, near-surface zinc-oxide mineralization along a 1.4 kilometre mineralized trend that is being tested by this drill program.  At Bongarita, which lies approximately 1.3 kilometres northwest of Mina Grande Sur, all results from the 36 holes drilled have been reported.  A second drill rig recently completed drilling at Mina Chica, an area where a high-grade zinc deposit was discovered; it lies approximately 1.2 kilometres northwest of Mina Grande Sur.  Results from 30 of 53 holes drilled, for a total of 2,370.9 metres, have been reported to date.

Geology and Discussion of Results

The zinc mineralization at Bongará is hosted by carbonate rocks and is classified as a Mississippi Valley-type deposit.  The mineralization is stratabound and is basically a tabular body with irregular boundaries.  Hydrozincite, smithsonite, hemimorphite, and a zinc-aluminum-iron silicate are the primary zinc minerals that are hosted primarily by soils, heavily-weathered fractured dolomites and dolomite breccias.  Given that the strike and dip of the mineralization is not known, the intercepts do not necessarily represent true thicknesses; moreover, long intercepts, e.g., MGS18-003, most likely drilled subparallel to the dip of the tabular mineralized body.  At Bongarita specifically, mineralization is exclusively hosted by soils. Overall, the mineralization is focused along the axis of a doubly-plunging anticline as well as within the eastern flank of the anticline.

Sampling and Analytical Protocols

Zinc One follows a systematic and rigorous Quality Control/Quality Assurance program overseen by Dr. Bill Williams, COO and Director of Zinc One.

The sample from each core run is placed in a 60-centimetre long, plastic core box that has five columns.   Core recovery, rock quality designation (“RQD”), and geologic features are logged and sample intervals, which are generally <2 metres, are chosen. Each core box is photographed and then sampled with a spatula (soil and heavily-weathered rock) or cut with a core saw, 50% of which is placed in a sample bag and stored on site in a secure location. The Company independently inserts certified control standards, blanks, and duplicates, all of which comprise at least 20% of the sample batch, to monitor sample preparation and analytical quality.  The samples are stored in a secure area until such time they are shipped to ALS laboratory in Lima (ISO 9001 Certified) for preparation and assay. At the laboratory, samples are dried, crushed, pulverized and then a four-acid digestion is applied.  This is followed by the ICP-AES analytical technique for 33 elements, including lead.  The same method is used to assay zinc for values up to 20%.  If zinc exceeds 20%, it is then analyzed using a titration method.  The laboratory also inserts blanks and standards as well as including duplicate analyses.

Qualified Person

The technical content of this news release has been reviewed, verified and approved by Dr. Bill Williams, COO and Director of Zinc One, a qualified person as defined by NI 43-101.

About Zinc One Resources Inc.

Zinc One is focused on the exploration and development of prospective and advanced zinc projects in mining-friendly jurisdictions.  Zinc One’s key assets are the Bongará Zinc Mine Project and the Charlotte Bongará Zinc Project in north-central Peru.  The Bongará Zinc Mine Project was in production from 2007 to 2008, but was closed due to the global financial crisis and concurrent decrease in the zinc price. Past production included >20% zinc grades and recoveries over 90% from surface and near-surface zinc-oxide mineralization. High-grade, zinc-oxide mineralization is known to outcrop between the mined area and the Charlotte Bongará Project, which is nearly six kilometres to the NNW and where past drilling intercepted various near-surface zones with high-grade zinc.  Zinc One is managed by a proven team of geologists and engineers who have previously constructed and operated successful mining operations.

Additional Information

Monica Hamm
VP, Investor Relations
Zinc One Resources Inc.
Phone: (604) 683-0911
Email: mhamm@zincone.com
www.zincone.com 

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Zinc One cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by many material factors, many of which are beyond their respective control. Such factors include, among other things: risks and uncertainties relating to Zinc One’s limited operating history, its proposed exploration and development activities on the Bongará Zinc Oxide Project and the need to comply with environmental and governmental regulations.  Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Zinc One does not undertake to publicly update or revise forward-looking information.

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

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Jenoptik got off to a good start in 2018

  • Group revenue grew by 16.0 percent to 189.9 million euros
  • EBITDA improved by 55.9 percent to 27.7 million euros, EBIT almost doubled to 20.8 million euros
  • Executive Board confirms 2018 guidance based on current business performance

“We made a good start into the new fiscal year, as planned. Over the first quarter of 2018 we continued the successful business development seen in prior quarters. With growth in all regions, each of our three business segments reported improved earnings,” says Dr. Stefan Traeger, President & CEO of JENOPTIK AG.

Revenue up by 16.0 percent, growth in all regions

Group revenue rose sharply to 189.9 million euros (prior year: 163.7 million euros). Growth was seen in the Optics & Life Science and Mobility segments thanks to continuing strong demand for optical systems for the semiconductor equipment industry and systems from the Healthcare & Industry area. Scheduled deliveries of toll monitoring pillars in the Traffic Solutions area also significantly contributed to revenue growth. This was reflected in particular in the increase in revenue in Germany. From a regional perspective, Jenoptik grew on all the international markets. Revenue in the two growth regions of the Americas and Asia/Pacific rose to 61.2 million euros (prior year: 56.6 million euros). In total, Jenoptik generated 67.8 percent abroad, once again more than two thirds of group revenue (prior year: 68.6 percent).

EBIT sharply up on the back of good business performance

Earnings before interest, taxes, depreciation and amortization (EBITDA) also increased by 55.9 percent to 27.7 million euros (prior year: 17.8 million euros). The EBITDA margin improved to 14.6 percent (prior year 10.9 percent). In the first three months of 2018, the operating result also outperformed the rise in revenue. At 20.8 million euros, EBIT was 88.7 percent up on the prior year (prior year: 11.0 million euros), with all three segments contributing to this growth. Higher revenue and significantly reduced administrative expenses were, among others, reasons for the noticeable improvement in earnings. In the prior year higher expenses in connection with the change on the Executive Board as well as unplanned development costs for the toll monitoring pillar affected the result. The EBIT margin improved from 6.7 to 11.0 percent.

Order intake lower than in prior year, solid order backlog and strong financial power

In the reporting period, the Jenoptik Group’s order intake, at 199.2 million euros, did not reach the high value seen in the prior year (prior year: 221.3 million euros), but exceeded the revenue of the quarter by 9.3 million euros. The book-to-bill ratio, that of order intake to revenue, came to 1.05, compared with 1.35 in the prior year. In the first quarter of 2017, Jenoptik had received several major contracts, particularly in the Defense & Civil Systems segment, which contributed to the sharp rise in order figures. At 453 million euros, the order backlog remained at the 2017 year-end level (31/12/2017: 453.5 million euros). There were also frame contracts (in part framework agreements with customers) worth 82.0 million euros (31/12/2017: 87.6 million euros).

Due to improved earnings and lower capital expenditure than in the prior year, the free cash flow rose to 13.3 million euros (prior year: 10.2 million euros).

Earnings up in all three segments

In the first three months of 2018, the Optics & Life Science segment generated revenue of 68.8 million euros, an increase of 16.6 percent (prior year: 59.0 million euros). This performance was driven by continuing strong demand for solutions for the semiconductor equipment industry and sales growth in the Healthcare & Industry area. Based on this good business development, EBIT improved significantly, by 45.1 percent to 14.1 million euros (prior year: 9.7 million euros). Over the three-month period, the segment thus increased its EBIT margin to 20.5 percent compared to the prior-year figure of 16.5 percent. The order intake grew by 12.9 percent to 87.1 million euros (prior year: 77.1 million euros). Set against revenue, this results in a book-to-bill ratio of 1.27 (prior year: 1.31). At the end of March 2018, the order backlog in the segment was worth 124.0 million euros (31/12/2017: 109.1 million euros).

In the first three months of 2018, revenue in the Mobility segment grew 31.9 percent on the prior-year quarter, to 72.3 million euros (prior year: million 54.8 million euros). Both areas, applications for the automotive industry and traffic safety technology, contributed to the successful performance. Scheduled deliveries of toll monitoring pillars significantly boosted growth. Due to the good development of revenue, the segment has now returned to stronger profitability, and posted EBIT of 6.1 million euros (prior year: 0.9 million euros). The EBIT margin consequently improved to 8.4 percent (prior year: 1.7 percent). As the order intake in the Mobility segment was below the level of revenue in the period covered by the report, the book-to-bill ratio reached a figure of 0.95 (prior year: 1.36). At 68.7 million euros, the order intake was down on the prior year predominantly due to the development in the Traffic Solutions area (prior year: 74.5 million euros). At the end of the first quarter, the order backlog was worth 140.7 million euros (31/12/2017: 144.7 million euros).

In the first three months, the Defense & Civil Systems segment generated revenue of 49.7 million euros, which as expected was at the prior-year level (prior year: 50.2 million euros). Despite this virtually unchanged revenue, EBIT rose slightly to 3.8 million euros (prior year: 3.2 million euros), primarily due to a more profitable product mix. The EBIT margin accordingly improved to 7.7 percent (prior year: 6.3 percent). At 44.1 million euros, the order intake was 36.8 percent lower than the prior-year figure of 69.8 million euros. Especially in the first quarter of 2017 Jenoptik had received several major orders. An improvement in the order intake is, however, expected in the further course of the year. The book-to-bill ratio fell to 0.89 from 1.39 in the prior year. The value of the order backlog consequently also declined, by 11.6 million euros to 191.0 million euros (31/12/2017: 202.6 million euros).

2018 guidance confirmed

Following the expected good business performance in the first quarter of 2018, the Executive Board has confirmed its guidance for the current fiscal year. Alongside a current high level of demand from the semiconductor equipment industry, deliveries of toll monitoring pillars will be made mainly in the first half-year 2018. For the full year, the Executive Board is therefore still expecting revenue growth to between 790 and 810 million euros. In fiscal year 2018 the EBIT margin is projected to be in a range between 10.5 to 11.0 percent, the EBITDA margin between 14.5 and 15.0 percent.

The Interim Report is available in the “Investors/Reports and Presentations” section of the website. The “Jenoptik app” can be used to view the Quarterly Report on mobile devices running iOS or Android. Images for download can be found in the Jenoptik image database in the “Current Events/Financial Reports” gallery.

This announcement can contain forward-looking statements that are based on current expectations and certain assumptions of the management of the Jenoptik Group. A variety of known and unknown risks, uncertainties and other factors can cause the actual results, the financial situation, the development or the performance of the company to be materially different from the announced forward-looking statements. Such factors can be, among others, changes in currency exchange rates and interest rates, the introduction of competing products or the change of the business strategy. The company does not assume any obligation to update such forward-looking statements in the light of future developments.

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