Benzinga - by Austin DeNoce, Benzinga Staff Writer.
Top Stories for Feb. 20, 2024:
1. Nucor Corporation (NYSE: NUE) announced a quarterly cash dividend of $0.54 per share, payable on May 10, 2024, to shareholders recorded on March 28, 2024. This marks Nucor's 204th consecutive quarterly dividend.
2. Commercial Metals Company (NYSE: CMC) named Dennis V. Arriola to its Board of Directors, effective March 19, 2024.
Executive Chairman of the Board Barbara R. Smith said, “We are pleased to welcome Dennis to our Board of Directors…. His extensive experience in the renewable energy industry will benefit CMC's efforts to further evolve an already world-class sustainability platform. In addition, Dennis's global perspective gained managing international organizations should offer valuable insights as we continue to create an unparalleled provider of reinforcement solutions to the domestic and international construction markets.”
3. ZK International Group Co., Ltd. (NASDAQ: ZKIN) completed the second subscription of its $5 million total private placement offering from the Bahamas-based CF Opportunity Fund Ltd.
This second investment of $2 million was priced at $1.58 per share or 175% of the closing bid price the day before the agreement and is aimed at driving accelerated growth for the company.
Chairman and CEO Jiancong Huang commented, “This financing will provide vital capital to support our growth initiatives and strategic objectives. We look forward to leveraging these funds to drive long-term value for our shareholders…. Through cutting-edge R&D, strategic expansion and a relentless pursuit of excellence, we are positioning ZK International for future growth and success.”
4. Foremost Lithium Resource & Technology Ltd. (NASDAQ: FMST) announced it joined the Webull Corporate Connect Service (CCS) platform to build an online community and increase dialogue with its shareholders.
The company’s portal on Webull’s platform provides a direct line of communication to its investor relations team, and followers are given updates on corporate announcements and press releases.
President and CEO Jason Barnard said, “As one of the largest retail brokerage apps globally, Webull provides an engaging social experience to its users through the CCS platform, whereby we can foster an open dialogue with the Webull investor community.... The CCS platform enables us to reach a broader online audience at a time when a new generation of retail investors are participating in the capital markets through apps and collaborative technology.”
5. Sayona Mining (ASX: SYA) announced a feasibility study for its Moblan Lithium Project in Québec, showcasing a post-tax NPV(8%) of C$2.2 billion and potential revenues of C$14.4 billion over 21.1 years.
The project, owned 60% by Sayona and 40% by Investissement Québec, expects an average annual production of 300,000 tons of lithium concentrate at a grade of 6% Li2O.
The Moblan lithium project in Québec boasts easy access to transportation, a low strip ratio of 2.3:1, and a high lithium grade of 6% Li2O, positioning it competitively among global lithium mines. Pending regulatory and financing approval, construction is expected to take two years.
Sayona’s Interim CEO James Brown commented, “We are delighted by the results of this DFS, which demonstrate that the Moblan Lithium Project is an incredibly strategic and valuable asset for Sayona, representing one of the single largest hard rock lithium resources in North America.”
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