The CBI on Wednesday told the Bombay High Court that Rhea Chakraborty's accusation that late actor Sushant Singh Rajput's sisters obtained a fake medical prescription for him was "mostly speculative".
The CBI on Wednesday told the Bombay High Court that Rhea Chakraborty's accusation that late actor Sushant Singh Rajput's sisters obtained a fake medical prescription for him was "mostly speculative".
Hyderabad (Telangana) [India], December 1 (ANI): The Joint Commissioner of Police for Central Hyderabad P Viswaprasad on Monday categorically denied reports of an attempt to murder BJP Telangana unit president Bandi Sanjay and said that some TV channels are spreading baseless rumours.
Sports Illustrated and The Curling News join forces.
Philip Green's Arcadia Group collapses into administration. More than 13,000 jobs at risk in biggest UK corporate failure of the Covid pandemic
SÃO PAULO, Brazil, Nov. 30, 2020 (GLOBE NEWSWIRE) -- XP Inc., or XP (Nasdaq: XP) announced today the commencement of an underwritten public offering of 27,567,485 Class A common shares, 7,130,435 of which are being offered by the Company and 20,437,050 of which are being offered by ITB Holding Brasil Participações Ltda. pursuant to a registration statement on Form F-1 filed with the U.S. Securities and Exchange Commission (“SEC”). In connection with the offering, XP and the selling shareholder intend to grant the underwriters the option to purchase up to 4,135,122 additional Class A common shares. XP Investimentos, Itaú BBA, Morgan Stanley and J.P. Morgan are acting as Global Coordinators and Joint Bookrunners of this offering.The offering will be made only by means of a prospectus. Copies of the preliminary prospectus related to the offering may be obtained from: XP Investimentos, Tower 45, 55 West 46th Street, 30th Floor, New York, New York 10036; Itaú BBA, 540 Madison Avenue 24th Floor, New York, New York 10022, Attention: Equity Sales Desk, telephone: 1-212-710-6756 or by emailing email@example.com; Morgan Stanley, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; or J.P. Morgan, c/o Broadridge Financial Solutions, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: 1-866-803-9204.A registration statement on Form F-1 relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. Copies of the registration statement can be accessed through the SEC’s website at www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.About XPXP is a leading, technology-driven platform and a trusted provider of low-fee financial products and services in Brazil. XP’s mission is to disintermediate the legacy models of traditional financial institutions by: * Educating new classes of investors; * Democratizing access to a wider range of financial services; * Developing new financial products and technology applications to empower clients; and * Providing high-quality customer service and client experience in the industry in Brazil.XP provides customers with two principal types of offerings, (i) financial advisory services for retail clients in Brazil, high-net-worth clients, international clients and corporate and institutional clients, and (ii) an open financial product platform providing access to over 750 investment products including equity and fixed income securities, mutual and hedge funds, structured products, life insurance, pension plans, real-estate investment funds (REITs) and others from XP, its partners and competitors.Forward Looking Statements This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Words such as “expect,” “anticipate,” “should,” “believe,” “hope,” “aim,” “target,” “project,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “might,” “could,” “intend,” variations of these terms or the negative of these terms and similar expressions are intended to identify these statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond XP Inc.’s control.XP Inc’s actual results could differ materially from those stated or implied in forward-looking statements due to several factors, including but not limited to: competition, change in clients, regulatory measures, a change in external forces, among other factors.For any questions, please contact:Carlos Lazar, Head of Investor RelationsInvestor Contact: firstname.lastname@example.org André Martins, Investor Relations SpecialistIR Website: investors.xpinc.com Natali Pimenta, Investor Relations Analyst
TORONTO, Nov. 30, 2020 (GLOBE NEWSWIRE) -- Kuuhubb Inc. (“Kuuhubb” or the “Company”) (TSXV: KUU), a mobile game development and publishing company focused on providing the female audience with creative interactive gaming experiences, has reported its unaudited consolidated financial results for the three-month period ended September 30, 2020. The results have been filed with the Canadian Securities Administrators and are now available on the Company’s issuer profile at www.sedar.com. The Company’s financial year end is June 30. Highlights: * Revenues of US$1,485,348 on a combined basis for the three months period ended September 30, 2020. * Recolor recognized revenue of US$1,305,859 for the three months period ended September 30, 2020. * Ongoing efforts of sale of assets such as Recolor to fund next-generation game commercialization initiatives under consideration. CEO’s Message:Jouni Keränen, CEO of Kuuhubb Inc., commented, “I am happy to announce that our flagship next generation game, Tiles & Tales, continues to show progress and in November 2020 the soft launch was expanded to the US and Canada. Commercial and full global launch is estimated during calendar year 2021. We continue to engage in ongoing discussions for the potential divestment of Recolor and we remain committed to obtaining the best possible long-term outcome for our Company and its shareholders in any decision that is ultimately made. Recolor is an attractive addition to a number of gaming portfolios and as such, we have received indications of interest from multiple parties that require thorough investigation. COVID-19 restrictions continue to slow the due diligence process but the strategic review is progressing. While we would like to emphasize that there are no guarantees that the strategic review process will result in any change or outcome, we can state that any decision will be made in the best interest of our Company’s future and our shareholders. Finally, in order to better manage the cash situation in these challenging times, the company is in the process of implementing a new cost reduction program which aims to achieve over USD 1 million in additional savings annually.”Financial Results for the Three Months Period Ended September 30, 2020: * The Company also recognized revenue of US$179,489 for the three months period ended September 30, 2020 from its continuing operations. This revenue was generated mainly from the subscriptions to, in-application sale of virtual goods from its “My Hospital” game and related advertising revenue. * The Company generated a total of US$1,485,348 revenues for the three months period ended September 30, 2020. Recolor Oy recognized revenue of US$1,305,859 for the three months period ended September 30, 2020 and the Recolor revenue was classified as part of the discontinued operations(1). * The Company incurred cost of sales of US$130,045 during the three months ended September 30, 2020 in its continuing operations. The cost of sales is predominantly related to the application marketplace (such as Apple App Store and Google Play) fees and other third-party direct costs. * The Company incurred consulting and professional fees of US$162,441 during the three months ended September 30, 2020. These fees were related to Kuuhubb’s audit fees, general legal counsel and other professional services. * The Company’s Recolor Oy showed EBITDA of US$7,428 by adjusting the net income before tax from discontinued operations of US$3,096 with the following items:Add back of:° non-cash depreciation and amortization of US$1,301;° net interest and accretion expenses of US$3,030; * The Company showed EBITDA of negative US$831,920 by adjusting the net loss before tax from continuing operations of US$1,358,244 with the following items:Add back of:° non-cash depreciation and amortization of US$4,533;° non-cash share-based compensation of US$153,536;° net interest and accretion expenses of US$260,340;° non-cash fair value change of loan receivable from Valiance UG of US$19,900;° foreign exchange loss of US$108,486 and deduct:° the fair value change of derivative liability of US$20,470; * The authorized share capital of the Company consists of an unlimited number of common shares. As at November 30, 2020, the Company had outstanding 55,752,709 common shares, 7,100,000 stock options and 2,200,000 warrants. * The Company also has two convertible debentures with face value of €2,000,000 each. The debentures can be converted to approximately 6,408,727 common shares upon conversion. (1) Classification of Recolor Oy as held for sale and discontinued operationsAs part of the efforts to meet the Company’s obligations and build growth, the Company announced it is exploring multiple strategic alternatives, including the divestiture of Company-owned assets such as shares of Recolor Oy. This may be completed within twelve months and as such the associated assets and liabilities within Recolor Oy are presented as held for sale and the net income attributable as discontinued operations in the consolidated financial statements. Unless otherwise indicated, the analysis and discussions herein are based on the Company’s continuing operations consist of the Company’s “My Hospital” operation.Closing of Non-Convertible Debenture Financing:As previously announced, on September 30, 2020 the Company closed a non-convertible debenture financing (the “Offering”) for aggregate gross proceeds of US$1,300,000 on a non-brokered basis. The Offering is composed of secured debentures (“Debenture”), each of which has a face value of US$29,500, a Maturity Date twenty-four months from the date of closing, and bears interest at a rate of 12% per annum.The Company will use the proceeds from the Offering for business development and general working capital purposes. Full details of the Offering are available in the Company’s news release dated September 23, 2020 and filed under Kuuhubb’s profile at www.sedar.com.Settlement Agreement with Cherrypick Games:On October 7, 2020, the Company announced that further to its news release issued on August 19, 2020, it had agreed to settlement terms (the “Agreement”) with Cherrypick Games S.A. (“Cherrypick”). Terms of the Agreement provide for a lower total payment amount from Kuuhubb to Cherrypick in connection of acquisition of “My Hospital” game by €450,000 and the complete transfer of the “My Hospital” game from Cherrypick to Kuuhubb. The Agreement also sets out a payment schedule that is to be fulfilled by May 31, 2021, at which point Cherrypick will hand over to Kuuhubb the development and maintenance responsibilities for “My Hospital”.Further details on the arbitration award to Cherrypick and Kuuhubb’s Agreement with Cherrypick can be found in the Company’s consolidated financial statements for the year ended June 30, 2020 and news release dated August 19, 2020, under the Company’s profile at www.sedar.com.Exploration of Strategic Alternatives to Enhance Shareholder ValueOn September 30, 2020, the Company announced that it has been conducting a process to explore strategic alternatives, including the potential divestiture of certain Company-owned assets, including the sale of Recolor Oy within the next twelve months. The Company together with Ernst & Young, had identified potential buyers and negotiations are presently at an advanced stage. Management noted that, while they remain committed to their stated objective of creating sustainable shareholder value through the acquisition of proven, yet under-appreciated assets with long-term growth potential, they do have an obligation to their stakeholders to carefully consider and review any options that may enhance shareholder value, including the possible benefits of realizing that future value now. There can be no assurance that the strategic alternatives review process will result in any strategic change or outcome and the Company does not know the exact timetable for the conclusion of its review of strategic alternatives.EBITDA - Non-IFRS MeasureEBITDA is intended to provide additional information to investors and analysts. The Company calculated EBITDA as set out on page 2 of this press release. EBITDA does not have any standardized meaning prescribed by IFRS and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Other companies may calculate EBITDA differently.About KuuhubbKuuhubb is a publicly listed mobile game development and publishing company, targeting the female audience with bespoke mobile experiences. Our Mission is to become a top player in the female mobile game space. We believe in empowering women by creating games and apps that will have our female audience relax, express and entertain themselves every day. Through our games and partnerships with select developers, we explore new lifestyle trends that can be converted into games and apps which will bring value to our users, employees, and shareholders. Headquartered in Helsinki, Finland, Kuuhubb has a global presence with a strong focus on U.S. and Asian markets.Cautionary Note Concerning Forward-Looking InformationThis press release contains forward-looking information. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements relating to future revenue and development, growth of the Company’s business) are forward looking information. This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other thing:, risks related to the growth strategy of the Company; the possibility that results from the Company’s growth plans will not be consistent with the Company's expectations; the early stage of the Company's development; competition from companies in a number of industries; the ability of the Company to manage expansion and integrate acquisitions into its business, future business development of the Company, including the ability to complete the sale of Recolor OY and the Codecacao Acquisition on terms which are economic or at all; the ability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on its business segments, capital market conditions, restrictions on labour and international travel and supply chains; and the other risks disclosed under the heading "Risk Factors" in the Company's management discussion and analysis for the twelve months ended June 30, 2020 filed on SEDAR at www.sedar.com. Forward-looking information speaks only as of the date on which it is provided and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.Neither 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.For further information, please contact:Kuuhubb Inc. Jouni Keränen – CEO email@example.com Office: +358 40 590 0919Bill Mitoulas Investor Relations firstname.lastname@example.org Office: +1 (416) 479-9547
The collapse of Topshop owner Arcadia could mean thousands of pension holders take a hit.
DALLAS, Nov. 30, 2020 (GLOBE NEWSWIRE) -- Dave & Buster's Entertainment, Inc., (NASDAQ:PLAY), ("Dave & Buster's" or "the Company"), an owner and operator of entertainment and dining venues, today announced that it will report financial results for its third quarter 2020 ended on November 1, 2020 on Thursday, December 10, 2020 after the market close. Management will hold a conference call to report these results the same day at 4:00 p.m. Central Time (5:00 p.m. Eastern Time). The conference call can be accessed over the phone by dialing (720) 543-0214 or toll-free (888) 254-3590. A replay will be available after the call for one year beginning at 7:00 p.m. Central Time (8:00 p.m. Eastern Time) and can be accessed by dialing (412) 317-6671 or toll-free (844) 512-2921; the passcode is 9070022.Additionally, a live and archived webcast of the conference call will be available at www.daveandbusters.com under the Investor Relations section.About Dave & Buster’s Entertainment, Inc.Founded in 1982 and headquartered in Dallas, Texas, Dave & Buster's Entertainment, Inc., is the owner and operator of 138 venues in North America that combine entertainment and dining and offer customers the opportunity to "Eat Drink Play and Watch," all in one location. Dave & Buster's offers a full menu of entrées and appetizers, a complete selection of alcoholic and non-alcoholic beverages, and an extensive assortment of entertainment attractions centered around playing games and watching live sports and other televised events. Dave & Buster's currently has stores in 40 states, Puerto Rico, and Canada.For Investor Relations Inquiries: Scott Bowman, CFO Dave & Buster’s Entertainment, Inc. (972) 813-1151 email@example.com
Shareholder rights law firm Robbins LLP announces that it is investigating the officers and directors of Cabot Oil and Gas Corporation (NYSE: COG) for breaches of fiduciary duties and violations of the Securities and Exchange Act of 1934 for wrongdoing beginning in October 2015. Cabot is an independent oil and gas company primarily operating in Pennsylvania's Marcellus Shale.
These deals are *chef's kiss*
Destruction of the rainforest increased by 9.5% compared to the previous 12 months, new data shows.
Labour will abstain in Tuesday’s Commons vote on new coronavirus restrictions that set to replace the national lockdown. Labour leader Sir Keir Starmer said that while his party accepted the need for continued restrictions they could not vote for them without a "credible health and economic plan in place". It came after Boris Johnson said on Monday it would be wrong to “take our foot off the throat of the beast” now, with up to 100 Tories unhappy about the tiered approach for England.
From designer handbags to failsafe denim, get these discounts before the event finishes at midnight tonight
LOM Production Plan Please refer to press release for additional details LOM Plan Operating & Capital Costs (R$ 000s) Please refer to press release for additional details Deepening Inferred Project: Production, Capital & Operating Costs Please refer to press release for additional details Figure 1 Deepening Extension Zone, North-South Long SectionVANCOUVER, British Columbia, Nov. 30, 2020 (GLOBE NEWSWIRE) -- Ero Copper Corp. (the “Company”) (TSX: ERO) is pleased to announce the release of its 2020 updated National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) compliant mineral reserve and resource estimate along with updated life of mine (“LOM”) production, capital and operating cost projections on its 99.6% owned Vale do Curaçá Property (herein referred to as the “Curaçá Valley”) located in Bahia State, Brazil.Within the Curaçá Valley LOM production plan, for the 2020 update, the Company has included production, capital and operating cost projections based upon the mineral reserves derived from the Measured and Indicated mineral resources from within the Deepening Extension Zone of the Pilar Mine (the “Deepening Extension Project”). In addition, the Company has included an independent preliminary economic assessment based upon the Inferred mineral resources within the Deepening Extension Zone of the Pilar Mine (the “Deepening Inferred Project”), that shows the expected synergies associated with utilizing the infrastructure that will be built in support of the Deepening Extension Project, to illustrate the potential of the Deepening Extension Zone.Highlights of the 2020 update include: * Significant increase in contained copper within the mineral reserves and resources of the Pilar Mine with the inclusion of the Deepening Extension Zone. Proven and Probable mineral reserves, at the same long-term copper price assumption of US$2.75 per pound, increased by 43%, while Measured and Indicated, and Inferred Resources increased by 28% and 155%, respectively. The mineralized extent of the Deepening Extension Zone has yet to be fully defined and remains open to the north, east and to depth. * Overall Curaçá Valley contained copper within the Proven and Probable mineral reserves, Measured and Indicated, and Inferred mineral resources increased by 23%, 29% and 62% respectively, inclusive of the Deepening Extension Zone. Summary, 2020 Update(1,2) Year-on-Year Change Tonnes (000s)Grade (Cu %)Contained Cu (kt) Contained Cu (kt)(%) Deepening Extension Zone, Pilar Mine Mineral Reserves Proven--- -n/a Probable7,4321.68125 101421% Proven & Probable7,4321.68125 101 421% Mineral Resources Measured--- -n/a Indicated7,5271.86140 110373% Measured & Indicated7,5271.86140 110 373% Inferred4,4762.1295 70 284% Pilar Mine (including Deepening Extension Zone) Mineral Reserves Proven5,8351.4182 (15)(16%) Probable15,1571.38209 10398% Proven & Probable20,9921.39291 8843% Mineral Resources Measured26,8291.50401 5215% Indicated21,5181.37295 10152% Measured & Indicated48,3471.44696 15328% Inferred17,2661.20206 126155% Curaçá Valley, Total (including Pilar Mine) Mineral Reserves Proven21,4641.06228 (26)(10%) Probable28,9901.06308 12669% Proven & Probable50,4541.06536 100 23% Mineral Resources Measured49,1581.27624 6912% Indicated53,6270.99531 19256% Measured & Indicated102,7861.121,155 260 29% Inferred39,2011.00391 14962% •LOM copper production targeting average C1 cash costs at or below US$1.00 per pound of copper is shown in the table below. The LOM production plan includes ongoing production from the Vermelhos and Pilar mines (including the Deepening Extension Project), open pit production utilizing ore sorting from the N8/N9 and Siriema open pit operations within the Vermelhos District and non-ore sorted production from the Surubim District open pit operations of Surubim and C12: · Q4 2020(1)2021202220232024202520262027202820292030203120322033 LOM Plan Cu Production (000s tonnes)9.243.042.945.148.946.346.243.946.037.826.315.312.317.3 Deepening Inferred Project Cu Production (000s tonnes)---0.10.30.82.14.03.911.423.217.48.07.7 __________________ (1) Q4 2020 production outlines the mineral reserve schedule for the three months from the effective date of October 1, 2020 to December 31, 2020. Please refer to the detailed mineral reserve and mineral resource tables of this press release, as detailed in the “Mineral Reserves, 2020”, “Underground Mineral Resources, 2020”, and “Open Pit Mineral Resources, 2020” sections of this press release, as well as the “Technical and Scientific Information” below for additional information on the stated mineral reserves and mineral resources. (2) Presented mineral resources inclusive of mineral reserves. Mineral resources that are not mineral reserves do not have a demonstrated economic viability. All figures have been rounded to the relative accuracy of the estimates. Summed amounts may not add due to rounding.The Deepening Inferred Project is preliminary in nature and based on the Inferred mineral resources of the Deepening Extension Zone which are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the Deepening Inferred Project will be realized. Mineral resources that are not mineral reserves do not have a demonstrated economic viability. Please refer to the “Deepening Inferred Project” section of this press release for additional technical and scientific information related to the Deepening Inferred Project * Integration of ore sorting into the Company’s LOM plan for the Vermelhos District open pit deposits of N8/N9 and Siriema contribute to improved mill head-grades and maintaining first-quartile C1 cash costs over the LOM. Ore Sorting Highlights Vermelhos District, Mining (including fines) Open Pit Production / Sort Feed (000s tonnes)19,968 Copper Grade, Sort Feed (% Cu)0.56% Sorted Production, Sent to Mill (including fines) Sort Product, Sent to Mill (000s tonnes)8,891 Copper Grade, Mill Feed (% Cu)1.18% * With the inclusion of the Deepening Extension Project at the Pilar Mine, a significant increase in production from the current 1.2 Mtpa ore mined to approximately 2.2 Mtpa ore mined is planned. The expansion of the Pilar is supported by the installation of a new external shaft, scheduled to commence construction in Q3 2021, that will not only support the planned increases in copper production at the Pilar Mine but has also been designed to support the potential for longer term copper production increases from both the Deepening Inferred Project and as additional mineralization is defined. In keeping with the Company’s return on invested capital focus, the expansion of the mine and development of the infrastructure in support of the Deepening Extension Project is being delivered at a low capital-intensity ratio of approximately US$1,677 per tonne of incremental copper production delivered over the LOM. LOM Plan & Pilar Deepening HighlightsLOM Plan including Deepening Extension Project, Pilar Mine Deepening Inferred Project, Pilar Mine Average Mill Throughput / Production (Mtpa)3.0n/a Peak Mill Throughput / Production (Mtpa)4.2n/a Total Tonnes Processed (000s tonnes)39,3784,203 Average Copper Head Grade (% Cu)1.33%2.01% Average Metallurgical Recoveries (%)91.5%93.2% Total Copper Production (000s tonnes)480.878.9 Average LOM C1 Cash Costs (US$ per lb. Cu)US$0.97US$0.25 Total LOM Capital Cost (USD million)US$553.9- Pilar Mine Deepening Capital Cost Only (USD million)US$190.3US$27.8 Pilar Mine Deepening Capital Intensity (US$ per tonne of Cu) US$1,677US$353 Additional LOM Plan & Pilar Deepening Highlight Notes: 1. C1 Cash Costs expressed in US Dollars (“USD”), converted at a USD to Brazilian Real (“BRL”) foreign exchange rate of 5.00, assumes gold and silver price of $1,750 and $18.00 per ounce, respectively. Fixed processing costs and operational support for the Curaçá Valley are allocated to the Company’s LOM Plan. 2. Capital costs for capital intensity figures converted to USD at a USD:BRL foreign exchange rate of 5.00. Capital intensity figures based on recovered copper assuming average LOM metallurgical recovery, as disclosed in this table.The Deepening Inferred Project is preliminary in nature and based on the Inferred mineral resources of the Deepening Extension Zone which are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the Deepening Inferred Project will be realized. Mineral resources that are not mineral reserves do not have a demonstrated economic viability. Please refer to the “Deepening Inferred Project” section of this press release for additional technical and scientific information related to the Deepening Inferred Project.Commenting on the update, David Strang, President and CEO stated, “Our 2020 updated mineral reserve and resource estimate and LOM plan reflects a considerable effort across our organization to deliver on several key initiatives that we commenced late last year. All of these initiatives were delivered under our corporate philosophy of maintaining a high return on invested capital for our shareholders and targeting LOM operating costs at or below US$1.00 per pound of copper.First, and most significantly, this includes the delivery of the Deepening Extension Project at the Pilar Mine from initial concept in late 2019, through 12 months of aggressive drilling, and extensive engineering and design work undertaken by our technical teams with the support of a large, diversified group of external consultants. While the Deepening Extension Project, technically, remains a mere extension of our existing operations at Pilar, the inclusion of the new shaft along with updated ventilation and cooling provides us with increased flexibility to not only increase overall production from Pilar but also improve the operating environment for our operations teams working in the mine, thereby increasing operating time at the working face. Further, we believe the new shaft will support production from the deeper parts of the Pilar mine well beyond the currently defined mineral reserves within the Deepening Extension Project in this update. As we have stated, mineralization in the Deepening Extension Zone remains open to the north, to depth and to the east best evidenced by the high-grade Inferred mineral resources outlined in this update. These resources have been categorized as Inferred resources primarily as a result of variability in drill hole spacing due to the acute angles and limited availability of drill stations. During 2021, we will be developing exploration drives that we expect will enable holes to be drilled at angles that will allow for upgrading of these Inferred resources to the Measured and Indicated categories. These exploration drives will also assist in our ability to evaluate potential extensions to the current known limits of mineralization of the Deepening Extension Zone.The second initiative reflected in our LOM update is the successful integration of ore-sorting into our operations following the completion of a comprehensive trial campaign earlier this year. The integration of ore-sorting within our operations will allow us to remove a significant amount of waste material mined, deliver feed to the plant at significantly higher copper grades and thereby lower transportation and processing costs while allowing our operations to use less water and power, and generate significantly less tailings. The integration of ore-sorting, like the Deepening Extension Project, is in-line with our corporate philosophy of maintaining high returns on invested capital, low capital intensity and first quartile operating costs. With our updated LOM plan now in place, we have a solid production platform on which we can continue to grow. Relative to the mill’s original design capacity of 5.5 million tonnes per annum, our updated LOM plan retains excess capacity of up to 1.3 million tonnes per annum, which continues to provide flexibility to augment our near- to medium-term production profile with new discoveries. In 2021, we will be focusing our exploration efforts on defining new mineral resources and reserves within the Southern Vermelhos Corridor to extend the operational life at the Vermelhos Mine beyond 2026. We will also be focusing on upgrading the Inferred resources within the Deepening Extension Zone while continuing to define extensions of mineralization to the north, to depth and to the east as well as refocus some of our exploration efforts at Pilar on the West Limb to further define down plunge extensions. And of course, we will continue to advance our regional exploration programs in a post-Covid environment that will allow our geological team and consultants greater freedom to travel to site on a regular basis.” The 2020 updated mineral reserve and resource estimate for the underground and open pit deposits and mines of the Curaçá Valley are shown in the tables below:Mineral Reserves, 2020 ClassificationTonnageGradeCu Contained (000 tonnes)(Cu %)(000 tonnes) Reserves, Underground Deepening Extension Zone, Pilar UG Mine (Pilar Mine below Level -965) Proven--- Probable7,4321.68125 Pilar UG Mine Ex-Deepening Extension Zone (Pilar Mine above Level -965) Proven5,8351.4182 Probable7,7251.0984 Vermelhos UG Mine Proven3,3592.0970 Probable1,8441.2323 Surubim District, Underground Proven5131.096 (C12 Underground) Probable5150.834 Total Proven 9,7071.63158 Total Probable 17,5161.34236 Total Proven & Probable, Underground 27,2241.45394 Reserves, Open Pit N8/N9 OP Mine (Vermelhos District) Proven7,3550.5540 Probable8,0120.5444 Siriema OP Mine (Vermelhos District) Proven--- Probable3,0110.8826 Surubim District, Open Pit (Surubim & C12) Proven2,7780.8223 Probable1230.551 Suçuarana South OP Mine (Pilar District) Proven1,6230.427 Probable3280.462 Total Proven 11,7570.6070 Total Probable 11,4740.6372 Total Proven & Probable, Open Pit 23,2300.61142 Mineral Reserve Notes: 1. Mineral reserve effective date of October 1, 2020. All figures have been rounded to the relative accuracy of the estimates. Summed amounts may not add due to rounding. 2. Mineral reserve estimates were prepared in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Definition Standards for Mineral Resources and Mineral Reserves, adopted by the CIM Council on May 10, 2014 (the “CIM Standards”), and the CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines, adopted by CIM Council on November 23, 2003 (the “CIM Guidelines”), using geostatistical and/or classical methods, plus economic and mining parameters appropriate for the deposit. Mineral reserves are based on a long-term copper price of US$2.75 per pound (“lb”), and a USD:BRL foreign exchange rate of 4.27, except for the C12 (Surubim District) and Suçuarana (Pilar District) open pit mines, whose design was not changed in 2020, and continued to assume a 3.70 USD:BRL foreign exchange rate. Mineral reserves are the economic portion of the Measured and Indicated mineral resources. Mining dilution and recovery factors vary for specific mineral reserve sources and are influenced by factors such as deposit type, deposit shape, stope orientation and selected mining method. Inferred resource blocks, where unavoidably mined, were assigned zero grade. Dilution occurring from Measured & Indicated resource blocks was assigned grade based upon the mineral resource grade of the blocks included in the dilution envelope. Please see “Technical and Scientific Information” for additional information on the stated mineral reserves.Underground Mineral Resources, 2020Underground Mine / DepositClassificationTonnageGradeCu Contained (000 tonnes)(Cu %)(000 tonnes) Deepening Extension Zone, Pilar Mine (Pilar Mine below Level -965)Measured--- Indicated7,5271.86140.0 Measured & Indicated7,5271.86140.0 Inferred4,4762.1294.8 Pilar Mine Ex-Deepening Extension Zone (Pilar Mine above Level -965)Measured26,8291.50401.3 Indicated13,9911.11154.8 Measured & Indicated40,8201.36556.0 Inferred12,7900.87111.6 Pilar District, Other Underground (R75, Sucuarana)Measured8160.725.9 Indicated1,0450.899.3 Measured & Indicated1,8610.8215.2 Inferred7420.604.5 Pilar District Underground TotalMeasured27,6451.47407.2 Indicated22,5631.35304.2 Measured & Indicated50,2081.42711.3 Inferred18,0081.17210.9 Vermelhos MineMeasured3,3892.8094.9 Indicated4,5141.1953.7 Measured & Indicated7,9031.88148.6 Inferred4,1280.8635.5 Vermelhos District, Other Underground (Siriema, N8/N9)Measured1,4650.7911.6 Indicated4,1530.8033.4 Measured & Indicated6,6760.9161.1 Inferred7,6890.8867.9 Vermelhos District Underground TotalMeasured4,4022.33102.4 Indicated8,6671.0087.1 Measured & Indicated13,0691.45189.5 Inferred13,7810.93127.6 Surubim District, Other Underground (Surubim, C12, Cercado Velho, Lagoa da Mina, Terra do Sal)Measured1,8410.9617.7 Indicated3,0620.9629.3 Measured & Indicated4,9040.9647.0 Inferred4,4820.9241.3 Surubim District Underground TotalMeasured1,8410.9617.7 Indicated3,0620.9629.3 Measured & Indicated4,9040.9647.0 Inferred4,4820.9241.3 Total, UndergroundMeasured33,8881.56527.3 Indicated34,2921.23420.6 Measured & Indicated68,1801.39947.9 Inferred36,2711.05379.8 Underground Mineral Resource Notes: 1. Mineral resource effective date varies by deposit, with an effective date of August 8, 2020 except for P1P2 (July 24, 2020), R75 (July 9, 2019) and Suçuarana (July 3, 2020) within the Pilar District; Vermelhos Mine (July 29 2020), Siriema and N8 (July 4, 2020), N9 (July 9, 2019) within the Vermelhos District; and Surubim District effective date of July 9, 2019 except for Terra do Sal (July 3, 2020). 2. Presented mineral resources inclusive of mineral reserves. All figures have been rounded to the relative accuracy of the estimates. Summed amounts may not add due to rounding. 3. Mineral resources have been constrained within newly developed 3D lithology models applying a 0.45% and 0.20% copper grade envelope for high and marginal grade, respectively. Within these envelopes, mineral resources for underground deposits were constrained using varying stope dimensions of up to 20m by 10m by 35m applying a 0.51% copper cut-off grade, as well as a 0.32% copper marginal cut-off grade. Mineral resources have been estimated using ordinary kriging inside 5m by 5m by 5m block sizes. The mineral resource estimates were prepared in accordance with the CIM Standards, and the CIM Guidelines, using geostatistical and/or classical methods, plus economic and mining parameters appropriate to the deposit. Please see “Technical and Scientific Information” below for additional information on the stated mineral resources.Open Pit Mineral Resources, 2020Open Pit Mine / DepositClassificationTonnageGradeCu Contained (000 tonnes)(Cu %)(000 tonnes) Pilar District, Open Pit (R22W, Suçuarana, R75)Measured3,1720.4915.4 Indicated3650.451.6 Measured & Indicated3,5370.4817.0 Inferred3510.471.6 Pilar District Open Pit TotalMeasured3,1720.4915.4 Indicated3650.451.6 Measured & Indicated3,5370.4817.0 Inferred3510.471.6 Siriema DepositMeasured--- Indicated2,9560.9227.1 Measured & Indicated2,9560.9227.1 Inferred1870.991.9 N8/N9 DepositsMeasured7,4200.5541.1 Indicated13,5620.4864.9 Measured & Indicated20,9820.51106.0 Inferred8580.403.4 Vermelhos NorthMeasured--- Indicated--- Measured & Indicated--- Inferred1210.881.1 Vermelhos District Open Pit TotalMeasured7,4200.5541.1 Indicated16,5180.5692.0 Measured & Indicated23,9380.56133.1 Inferred1,1660.556.4 Surubim MineMeasured2,3400.9321.7 Indicated730.840.6 Measured & Indicated2,4130.9222.3 Inferred30.800.0 C12 DepositMeasured1,2720.9411.9 Indicated9420.706.6 Measured & Indicated2,2140.8418.6 Inferred1540.560.9 Surubim District, Other Open Pit (Cercado Velho, Lagoa da Mina, Terra do Sal)Measured1,0670.616.5 Indicated1,4360.679.6 Measured & Indicated2,5030.6416.1 Inferred1,2550.151.9 Surubim District Open Pit TotalMeasured4,6780.8640.1 Indicated2,4520.6916.8 Measured & Indicated7,1300.8056.9 Inferred1,4130.202.8 Total, Open PitMeasured15,2700.6396.6 Indicated19,3350.57110.5 Measured & Indicated34,6050.60207.0 Inferred2,9300.3710.8 Open Pit Mineral Resource Notes: 1. Mineral resource effective date varies by deposit, with an effective date of August 8, 2020, except for Suçuarana (July 3, 2020), R22W and R75 (July 9, 2019) within the Pilar District; Siriema and N8 (July 4, 2020), N9 and Vermelhos North (July 9, 2019) within the Vermelhos District; and an effective date of July 9, 2019 for the Surubim District except Terra do Sal (July 3, 2020). Presented mineral resources inclusive of mineral reserves. All figures have been rounded to the relative accuracy of the estimates. Summed amounts may not add due to rounding. 2. Mineral resources have been constrained within newly developed 3D lithology models using a 0.21% copper cut-off grade for open pit deposits. Mineral resources have been estimated using ordinary kriging inside 5m by 5m by 5m block sizes. The mineral resource estimates were prepared in accordance with the CIM Standards, and the CIM Guidelines, using geostatistical and/or classical methods, plus economic and mining parameters appropriate to the deposit. Please see “Technical and Scientific Information” below for additional information on the stated mineral resources.Mineral resources which are not mineral reserves do not have demonstrated economic viability.UPDATED LOM PRODUCTION PLAN, OPERATING & CAPITAL COSTSThe Company’s updated LOM production plan, based upon updated mineral reserves within the Curaçá Valley, is highlighted by the inclusion of the Deepening Extension Project and integration of ore sorting into the Company’s operations. Copper production over the updated LOM plan totals approximately 481,000 tonnes of copper in concentrate, at average C1 cash costs of $0.97 per lb. of copper produced.The tables below outline the updated production plan for the Curaçá Valley, as well as associated capital and operating cost projections, which do not include estimates for the Deepening Inferred Project which can be found later in this press release. Amounts are presented in thousands of Brazilian Real (“BRL”). Where applicable, C1 cash costs, as defined by the Company are presented in US Dollars (“USD”) per pound of copper produced, based on a USD:BRL foreign exchange rate of 5.00, and by-product gold and silver prices of $1,750 and $18.00 per ounce, respectively.Updated LOM production plan, operating and capital cost projections can be downloaded in table format:https://www.globenewswire.com/NewsRoom/AttachmentNg/a2466a64-41dc-41dc-b707-3eb9ebd81571https://www.globenewswire.com/NewsRoom/AttachmentNg/ef0be384-d186-4b23-8532-d9062195de30C1 Cash Cost & Capital Expenditure Notes: 1. Presented C1 Cash Costs assumes USD:BRL FX rate of 5.00, gold price of US$1,750 per ounce and silver price of US$18.00 per ounce. 2. C1 Cash Cost of copper produced is a non-IFRS measure, as more particularly discussed under the “Non-IFRS Measures” section of this press release. 3. Capital expenditures shown do not include discretionary greenfield or brownfield exploration.MINERAL RESOURCE GROWTHThe following section discusses the updated mineral reserve and resource estimates as they relate to the Pilar and Vermelhos Districts, and target areas for continued growth. Relative comparisons of 2020 to 2019, where applicable, refers to the 2020 updated mineral resource and reserve estimate discussed herein and the 2019 Technical Report, respectively. A more fulsome discussion of each of the deposits of the Curaçá Valley and the installed infrastructure within each of the mineral districts can be found in the 2019 Technical Report. The mineral resources, planned development and exploration target areas within the Pilar and Vermelhos Districts outlined in this press release will be made available on the Company’s Curaçá Valley site tour and interactive three-dimensional models for the Pilar Mine and the Vermelhos System, which can be accessed via the Company’s website (www.erocopper.com) or via VRIFY Technology Inc. (“VRIFY”) (www.vrify.com).Pilar DistrictThe Pilar District encompasses the Pilar underground mine (which includes the zones of: Baraúna, the Deepening Extension Zone, East Limb, MSB South, the West Limb, P1P2N, R22 and P1P2W) as well as the open pit deposits of R75, and Suçuarana. In total, contained copper within the Measured and Indicated resource categories increased by approximately 166,000 tonnes of copper as compared to the 2019 Technical report, based on 30.8 million tonnes grading 1.37% copper of Measured mineral resources and 23.0 million tonnes grading 1.33% copper of Indicated mineral resources.A major focus of the Company’s 2020 mineral resource and reserve update was to extend the known limits of the Pilar Mine at depth, targeting high-grade mineralization within the Deepening Extension Zone. During the period from September 2019 to August 2020, a total of 19,600 meters of drilling were completed in support of this objective. In total, contained copper within the Indicated mineral resource category of the Deepening Extension Zone increased by approximately 110,000 tonnes of copper (comprised of 7.5 million tonnes grading 1.86% copper vs. 1.4 million tonnes grading 2.19% copper as set out in the 2019 Technical Report). Additionally, approximately 70,000 tonnes of additional contained copper added within newly defined, high-grade, Inferred mineral resources of the Deepening Extension Zone totalling 4.5 million tonnes grading 2.12% copper, representing a 284% increase in contained copper at a 14% improvement in grade (compared to 1.3 million tonnes grading 1.86% copper as set out in the 2019 Technical Report). A drill program focused on upgrading portions of this new high-grade Inferred mineral resources within the Deepening Extension Zone is underway. Recent drilling in this area is highlighted by hole FC5367 that intercepted 29.9 meters grading 5.90% copper and FC5514 that intercepted 22.0 meters grading 2.14% copper including 9.0 meters grading 3.22% copper (please refer to the Company’s press releases dated June 23, 2020 and September 22, 2020 for additional details).Based on a review of historical data, including structural analysis and compilation work of all drill intercepts and previously mined areas above 8.00% copper within the Pilar Mine, the Company has developed an interpolated north-plunging structural zone of high-grade potential extending to depth. Many of the Company’s best holes drilled to date in the Deepening Extension Zone are intercepts within this structural corridor. A long-section of the Pilar Mine, including the interpolated zone and historical drill intercepts above 8.00% copper is shown in Figure 1. Drilling from underground and surface utilizing directional drilling technology is currently underway to better evaluate mineralized continuity of this high-grade target area.Vermelhos DistrictThe Vermelhos District encompasses the Vermelhos underground mine, the N8/N9 and Siriema open pit deposits. In total, contained copper within the Measured and Indicated resource categories increased by approximately 72,000 tonnes of copper as compared to the 2019 Technical report, based on 11.8 million tonnes grading 1.21% copper of Measured mineral resources and 25.2 million tonnes grading 0.71% copper of Indicated mineral resources.The most significant increases in contained copper within the Vermelhos District occurred within the N8/N9 deposit and Siriema, both near-surface and to depth, combined with increases within the Vermelhos Mine, were more than sufficient to offset mine depletion from 2019 to 2020. The underground additions to Measured and Indicated mineral resources within the Vermelhos District totaled 41,000 tonnes of contained copper based on 4.4 million tonnes grading 2.33% copper in Measured mineral resources and 8.7 million tonnes grading 1.00% copper in Indicated mineral resources. Contributions from the open pit deposits resulted in additions of 32,000 tonnes of contained copper based on 7.4 million tonnes grading 0.55% copper in Measured mineral resources and 16.5 million tonnes grading 0.56% in Indicated mineral resources.Down-hole electromagnetic (“EM”) work, and follow-up drilling performed in the third quarter of 2020 identified a new target zone of mineralization supportive of the potential for multiple “stacked” mineralized structures being present between the Siriema deposit and the Vermelhos Mine, a distance of approximately 700 meters in strike-length. This new zone, now known as the “Southern Vermelhos Corridor”, extends approximately 700 meters in a north-south direction between the Siriema deposit and UG1 mining area, approximately 300 meters on east-west section and approximately 400 meters to depth. Drilling within this zone is highlighted by FSI-40, which was extended from its original length of 396 meters to 660 meters down-hole, and intersected 10.0 meters grading 4.50% copper and 0.68% nickel including 4.0 meters grading 8.53% copper and 1.25% nickel at the location of an EM anomaly. The zone was confirmed with a second hole, FSI-99, that intersected 13.2 meters grading 1.92% copper and 0.78% nickel including 2.5 meters grading 5.73% copper and 3.33% nickel, representing some of the highest copper grades discovered in the Vermelhos District outside of the Vermelhos Mine, and highest nickel grades intercepted outside of the Siriema Keel Zone to date. Extensional results along this zone are highlighted by hole FSI-92 that intersected 17.0 meters grading 0.78% copper including 7.0 meters grading 1.23% copper and hole FSI-93 that intersected 12.8 meters grading 0.68% copper including 6.0 meters grading 1.00% copper (please refer to the Company’s press release dated June 23, 2020 and September 22, 2020 for additional details). Five drill rigs are planned to be operating within the Southern Vermelhos Corridor.TECHNICAL AND SCIENTIFIC INFORMATIONMineral ResourcesBlock model tonnage and grade estimates for the Curaçá Valley were classified according to the CIM Standards and the CIM Guidelines by Sr. Porfirio Cabaleiro Rodriguez, MAIG (3708), Mining Engineer and Director of GE21 Consultoria Mineral Ltda. (“GE21”) who is an independent qualified person as such term is defined under NI 43-101.Mineral resources have been constrained within newly developed 3D lithology models applying a 0.45% and 0.20% copper grade envelope for high and marginal grade, respectively. Within these envelopes, mineral resources for underground (“UG”) deposits were constrained using varying stope dimensions of up to 20m by 10m by 35m applying a 0.51% copper cut-off grade, as well as a 0.32% copper marginal cut-off grade. For open pit ("OP") deposits a cut-off grade of 0.21% copper was applied. Mineral resources are based on copper prices of US$2.90 per pound, net smelter return (“NSR”) of 94.53%, average metallurgical recoveries of 90.7%, processing costs of US$5.65 per tonne (run of mine), sorting costs for open pit deposits of US$1.00 per tonne of sorter feed and variable transportation costs to the mill (assuming an average 50% mass recovery). These variable costs, per tonne shipped to the mill are: Surubim District equal to US$4.61 per tonne; Suçuarana (Pilar District) equal to US$2.73 per tonne; and Vermelhos District equal to US$8.91 per tonne. Mining costs of US$3.10 and US$17.30 per tonne were applied for open pit and underground deposits, respectively. Mineral resources were estimated using ordinary kriging within 5m by 5m by 5m block sizes. Mineral resources associated with underground deposits were further constrained using Datamine MSO tool varying stopes dimensions from 20m by 10m by 35m to 5m by 5m by 5m. Mineral resources associated with open-pit operations were limited using a Whittle (4.7.1) 3D optimized pit. Mineral resources presented are shown inclusive of mineral reserves.A low-grade envelope using a cut-off grade of 0.20% copper for UG deposits was used to develop a dilution envelope and development block model that was included to define the grade of blocks within the dilution envelope in the planning and design of stopes within the mineral resources and mineral reserve estimate.Mineral resource effective date varies by deposit, with an effective date of August 8, 2020 except for P1P2 (July 24, 2020), R22W and R75 (July 9, 2019) and Suçuarana (July 3, 2020) within the Pilar District; Vermelhos Mine (July 29 2020), Siriema and N8 (July 4, 2020), N9 and Vermelhos North (July 9, 2019) within the Vermelhos District; and Surubim District effective date of July 9, 2019 except for Terra do Sal (July 3, 2020). Presented mineral resources inclusive of mineral reserves. All figures have been rounded to the relative accuracy of the estimates. Summed amounts may not add due to rounding.Mineral Reserves The mineral reserves for the Pilar, Vermelhos, and Surubim Districts are derived from the Measured and Indicated mineral resources as defined within the resource block models following the application of economic and other modifying factors further described below. Inferred mineral resources, where unavoidably mined within a defined mining shape have been assigned zero grade. Dilution occurring from Measured and Indicated resource blocks within the mineral reserve plan was assigned grade based upon the estimated mineral resource grade of the blocks included in the dilution envelope. Mineral reserves were classified according to the CIM Standards and the CIM Guidelines by Dr. Beck Nadar of BNA Mining Solutions, in association with GE21, who is an independent qualified person as such term is defined under NI 43-101.Mineral reserve cost assumptions are based on actual operating cost data during the 18-month period from January 1, 2019 to June 30, 2020. The USD:BRL rate of 4.27 was selected based on the average rate during this same period.A summary of the mineral reserve estimate parameters is provided below:Mining Costs (US$/tonne ore mined) Pilar UG Mine$23.52 Vermelhos UG Mine$21.95 C12 UG Mine$18.66 Surubim OP Mine$2.65 Suçuarana & C12 OP Mine$3.06 N8/N9 & Siriema OP Mines$2.17 Transportation Costs (US$/tonne to mill) Pilar Mine(none) Vermelhos Mine$10.96 Surubim OP Mine$5.48 C12 OP/UG Mine$5.98 Suçuarana mine$3.54 Processing Costs (US$/tonne milled) Pilar & Vermelhos Mines$7.41 Suçuarana & C12 OP/UG Mine$7.90 Surubim, Siriema & N8/N9 OP Mines$4.12 Metallurgical Recovery (average) Pilar UG Mine90.39% Vermelhos UG Mine91.49% N8/N9, Siriema, Suçuarana & C12 OP/UG Mines89.0% Surubim OP Mine85.0% LME Copper Price (US$/lb)$2.75 Net Smelter Return94.53% Transport & Sales Costs (US$/tonne copper)$82.15 CFEM Royalty (after tax)1.58 % Foreign Exchange Rate (USD:BRL)4.27 Reserve Parameters Note All road-maintenance costs associated with the Curaçá Valley haul road have been allocated to Vermelhos. Calculated differences between open pit mining and processing costs are a result of additional incurred costs related to contract mining vs. employee operated and allocation of mining and processing administrative / fixed costs between mines. Metallurgical recoveries vary by area as outlined. G&A costs of US$4.16 per tonne were applied to the current operating underground mining operations of Pilar and Vermelhos. USD:BRL foreign exchange rate of 4.27 applied to all mines, except Suçuarana and C12 OP/UG mines, as the mine designs did not change from 2019, thus remain based on a USD:BRL foreign exchange rate of 3.70.Other modifying factors considered in the determination of the mineral reserve estimate include: * 10% dilution has been applied to all mines, with the exception of the Pilar UG Mine which varies with stope height. For planned stopes within the Pilar UG Mine with a height above 35 meters, dilution of 15% has been applied, while for planned stopes with a height of 26 meters, dilution of 7% has been applied. * Maximum bench height of 15 meters for open pit mines. Maximum underground stope dimensions based on geotechnical assessments from previous studies and past operating experience within each mining area, combined with evaluation of induced stresses and the Rock Mass Rating (“RMR”). * The Vertical Retreat Mining (“VRM”) method with cemented paste fill was selected for the Pilar UG Mine, where the method is currently in use. For the Vermelhos UG Mine, Sublevel with cemented rockfill (“CRF”) is the mining method currently in use on consideration of the dip, plunge and thickness of the ore-bodies, the rock quality designation (“RQD”) and overall competence of the host rock. * Mining recovery of 100% has been applied for open pit mines. The Pilar UG Mine and Vermelhos UG Mine assume 96% and 95% mine recovery, respectively. * Within designed stopes, all contained material was assumed to be mined with no selectivity. Inferred mineral resources, where unavoidably included within a defined mining shape have been included in the mineral reserves estimate at zero grade. Mining dilution resulting from Measured and Indicated blocks was assigned the grade of those blocks captured in the dilution envelope using the estimated grade within the blocks of the dilution and development model.DEEPENING INFERRED PROJECTApproximately 19,600 meters of drilling was performed between September 2019 and August 2020 in support of the updated mineral resource estimate of the Deepening Extension Zone. While a significant portion of the Company’s target area was upgraded to Indicated mineral resource, a portion of higher-grade material within the zone remained unconverted due to drilling access and orientation of the zone.Inferred mineral resources within the Deepening Extension Zone totals approximately 4.5 million tonnes grading 2.12% copper, resulting in contained copper of approximately 95,000 tonnes. An independent preliminary economic assessment was prepared on this material utilizing the infrastructure that will be built to support development and mining of the mineral reserves of the Deepening Extension Project, as more fully described in the Company’s updated LOM Plan, presented elsewhere in this press release.The Deepening Inferred Project is preliminary in nature and based on the Inferred mineral resources of the Deepening Extension Zone which are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the Deepening Inferred Project will be realized. Mineral resources that are not mineral reserves do not have a demonstrated economic viability. The Company has commenced a program to continue infill drilling of the Inferred resource to further upgrade this material; however, until this work is completed and the Inferred resources have been upgraded to reserves, there is no certainty this material will be converted into mineral reserves. Inferred Mineral Resource Captured in Deepening Inferred ProjectThe Deepening Inferred Project envisions application of the same mining and recovery methods as the Deepening Extension Project. As a result, the same mining recovery and dilution assumptions have been applied as elsewhere within the Pilar Mine. Specifically, these include: mining recovery of 96% and dilution which varies with stope height. For planned stopes with a height above 35 meters, dilution of 15% has been applied, while for planned stopes with a height of 26 meters, dilution of 7% has been applied.The technical and scientific information related to the Deepening Inferred Project has been reviewed and approved by Sr. Porfirio Cabaleiro Rodriguez, MAIG (3708), Mining Engineer and Director of GE21 who is an independent qualified person as such term is defined under NI 43-101. Deepening Extension Zone, Inferred ResourcesDeepening Inferred Project, Captured Inferred Resource Tonnes (000s)4,4764,203 Grade (% Cu)2.122.01 Contained Cu (000 tonnes)94.884.5 Deepening Inferred Project Notes: 1. Mineral resource effective date of August 8, 2020. All figures have been rounded to the relative accuracy of the estimates. Summed amounts may not add due to rounding. Mineral resources which are not mineral reserves do not have demonstrated economic viability. 2. The Inferred mineral resources (undiluted) outlined in this table are further detailed in the “Mineral Resources, 2020” table, presented elsewhere in this press release. Mineral resources of the Pilar Mine are based on copper prices of US$2.90 per pound, net smelter return (“NSR”) of 94.53%, average metallurgical recoveries of 90.7%, processing costs of US$5.65 per tonne (run of mine) and mining costs of US$17.30 per tonne. 3. Mineral resources have been constrained within newly developed 3D lithology models applying a 0.45% and 0.20% copper grade envelope for high and marginal grade, respectively. Within these envelopes, mineral resources for underground deposits were constrained using varying stope dimensions of up to 20m by 10m by 35m applying a 0.51% copper cut-off grade, as well as a 0.32% copper marginal cut-off grade. Mineral resources have been estimated using ordinary kriging inside 5m by 5m by 5m block sizes. The mineral resource estimates were prepared in accordance with the CIM Standards, and the CIM Guidelines, using geostatistical and/or classical methods, plus economic and mining parameters appropriate to the deposit. Please see “Technical and Scientific Information” below for additional information on the stated mineral resources.Deepening Inferred Project ResultsThe Deepening Inferred Project is expected to utilize the same infrastructure that will be built in support of the Deepening Extension Project, including the new external shaft. Over the LOM of the Deepening Inferred Project, approximately 4.2 million tonnes grading 2.01% copper are expected to be mined, producing at total of approximately 78,900 tonnes of copper after average metallurgical recoveries of 93.2%. Initial production from the Deepening Inferred Project is expected to commence in 2023 after completion of the new external shaft and associated development in support of the Deepening Extension Project of the Pilar Mine.As a result of shared infrastructure and associated synergies with the Deepening Extension Project as reflected in the Company’s LOM production plan, total capital costs, comprised of only equipment and development, are expected to total R$193.5 million over the LOM of the Deepening Inferred Project. As there is no certainty that the Deepening Inferred Project will be realized, fixed processing costs and the majority of operational support costs, other than variable operational support costs associated with concentrate transport for copper produced from the Deepening Inferred Project, have been allocated to the Company’s LOM production plan, as described elsewhere in this press release. As such, C1 cash costs for the Deepening Inferred Project are expected to average US$0.25 per lb. of copper produced.Where applicable, C1 cash costs, as defined by the Company are presented in US Dollars (“USD”) per pound of copper produced, based on a USD:BRL foreign exchange rate of 5.00, and by-product gold and silver prices of $1,750 and $18.00 per ounce, respectively.Deepening Inferred Project production plan, operating and capital cost projections can be downloaded in table format: https://www.globenewswire.com/NewsRoom/AttachmentNg/cf8e4fa7-1714-4ff3-b902-f57fb295cf7cDeepening Inferred Project, C1 Cash Cost & Capital Expenditure Notes: 1. Presented C1 Cash Costs assumes USD:BRL FX rate of 5.00, gold price of US$1,750 per ounce and silver price of US$18.00 per ounce. Fixed processing costs and the majority of operational support costs, other than variable operating support costs associated with concentrate transport from the Deepening Extension Project, are allocated to the Company’s LOM Plan. 2. C1 Cash Cost of copper produced is a non-IFRS measure, as more particularly discussed under the “Non-IFRS Measures” section of this press release. 3. The Deepening Inferred Project is preliminary in nature and based on the Inferred mineral resources of the Deepening Extension Zone which are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the Deepening Inferred Project will be realized. Mineral resources that are not mineral reserves do not have a demonstrated economic viability. The Company has commenced a program to continue infill drilling of the Inferred resource to further upgrade this material; however, until this work is completed and the Inferred resources have been upgraded to reserves, there is no certainty this material will be converted into mineral reserves. 4. Capital expenditures shown do not include discretionary greenfield or brownfield exploration.Non-IFRS MeasuresThe Company utilizes certain non-IFRS measures, including C1 cash cost of copper produced, which are not measures recognized under IFRS, as more particularly described in the Company’s management’s discussion and analysis for the three and nine months ended September 30, 2020, a copy of which can be found on the Company’s website (www.erocopper.com) and on SEDAR (www.sedar.com). The Company believes that these measures, together with measures determined in accordance with IFRS, provide investors with an improved ability to evaluate the underlying performance of the Company. 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 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.C1 cash cost of copper produced (per lb) is the sum of production costs, net of capital expenditure development costs and by-product credits, divided by the copper pounds produced. C1 cash costs reported by the Company include treatment, refining charges, offsite costs, and certain tax credits relating to sales invoiced to the Company’s Brazilian customer on sales. By-product credits are calculated based on actual precious metal sales (net of treatment costs) during the period divided by the total pounds of copper produced during the period. C1 cash cost of copper produced per pound is a non-IFRS measure used by the Company to manage and evaluate operating performance of the Company’s operating mining unit and is widely reported in the mining industry as benchmarks for performance but does not have a standardized meaning and is disclosed in addition to IFRS measures.QUALITY ASSURANCE / QUALITY CONTROLCurrent QA/QC ProgramThe Company is currently drilling underground with core drill rigs using a combination of owned and third-party contracted drill rigs. During the period from September 2019 to September 2020, third party drill rigs were operated by Major Drilling, DrillGeo Geologia e Sondagem Ltda., and Layne Christensen Co., all of whom are independent of the Company. Drill core is logged, photographed and split in half using a diamond core saw at MCSA’s secure core logging and storage facilities. Half of the drill core is retained on site and the other half-core is used for analysis, with samples collected on one-meter sample intervals unless an interval crosses a geological contact. Reverse circulation cuttings are split at the drill rig using one-meter sample intervals. All sample preparation is performed in the secure on-site laboratory of Mineraҫão Caraíba S.A. (“MCSA”). Total copper is determined using a nitric-hydrochloric acid digestion and Atomic Absorption Spectrometry (“AAS”) and/or Titration. Oxide copper values are determined using sulfuric acid digestion followed by AAS. All such sample results have been monitored through a quality assurance and quality control (“QA/QC”) program that includes the insertion of certified standards, blanks, and pulp and reject duplicate samples. Regular check-assays are submitted to ALS Brasil LTDA’s facility located in Vespasiano, Minas Gerais, Brazil, at a rate of approximately 5%. ALS Brasil LTDA is independent of the Company.Historic Database QA/QC ValidationSamples that were analyzed prior to the implementation of MCSA’s current QA/QC program in 2007 have been subjected to the same quality control tools used currently to allow for an evaluation of the accuracy and precision of the grades that were obtained. Based on the demonstrated quality associated with the current sampling procedures and the post-2007 performance of MCSA’s laboratory, which is evaluated through daily QA/QC campaigns, MCSA conducted a post mortem QA/QC analysis, with the aim of validating the samples that were analyzed before the QA/QC program was effectively implemented. The post-mortem QA/QC analysis involved re-analyzing a minimum of 10% of the total number of samples with no corresponding QA/QC data to validate the historic assays. Please refer to the 2019 Technical Report for additional information related the post-mortem QA/QC analysis.Qualified Persons and the NI 43-101 Technical ReportSr. Porfirio Cabaleiro Rodriguez, MAIG, has reviewed and approved the scientific and technical information contained in this press release. Mr. Rodriguez is independent of the Company and a qualified person as defined by NI 43-101.The Company will file the associated NI 43-101 compliant report on SEDAR (www.sedar.com) and on the Company’s website (www.erocopper.com) within 45 days of this press release, which will serve as an update to the technical report entitled “2019 Updated Mineral Resources and Mineral Reserves Statements of Mineração Caraíba’s Vale do Curaçá Mineral Assets, Curaçá Valley”, dated November 25, 2019 with an effective date of September 18, 2019, prepared by Rubens Jose De Mendonça, MAusIMM, of Planminas – Projectos e Consultoria em Mineração Ltd. (“Planminas”), Porfirio Cabaleiro Rodrigues, MAIG, Leonardo de Moraes Soares, MAIG, and Bernardo Horta de Cerqueira Viana, MAIG, all of GE21, and each a “qualified person” and “independent” of the Company within the meanings of NI 43-101 (the “2019 Technical Report”).ABOUT ERO COPPER CORPEro Copper Corp, headquartered in Vancouver, B.C., is focused on copper production growth from the Vale do Curaçá Property, located in Bahia, Brazil. The Company’s primary asset is a 99.6% interest in the Brazilian copper mining company, MCSA, 100% owner of the Vale do Curaçá Property with over 40 years of operating history in the region. The Company currently mines copper ore from the Pilar and Vermelhos underground mines. In addition to the Vale do Curaçá Property, MCSA owns 100% of the Boa Esperanҫa development project, an IOCG-type copper project located in Pará, Brazil and the Company owns 97.6% of the NX Gold Mine, an operating gold and silver mine located in Mato Grosso, Brazil. Additional information on the Company and its operations, including technical reports on the Vale do Curaçá, Boa Esperanҫa and NX Gold properties, can be found on the Company’s website (www.erocopper.com) and on SEDAR (www.sedar.com).ERO COPPER CORP. Signed: “David Strang”For further information contact: David Strang, President & CEO Makko DeFilippo, Vice President, Corporate Development (604) 429-9244 firstname.lastname@example.org CAUTION REGARDING FORWARD LOOKING INFORMATION AND STATEMENTS This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information includes statements that use forward-looking terminology such as “may”, “could”, “would”, “will”, “should”, “intend”, “target”, “plan”, “expect”, “budget”, “estimate”, “forecast”, “schedule”, “anticipate”, “believe”, “continue”, “potential”, “view” or the negative or grammatical variation thereof or other variations thereof or comparable terminology. Such forward-looking information includes, without limitation, statements with respect to the Company's expected operations at the Vale do Curaçá Property, the estimation of mineral reserves and mineral resources, the significance of any particular exploration program or result and the Company’s expectations for current and future exploration plans including, but not limited to, planned areas of additional exploration, the potential to convert any portion of the inferred mineral resource base, the significance of any drill results or new discoveries and targets, including without limitation extensions of defined mineralized zones, possibilities for mine life extensions or continuity of down-plunge mineralization, further extensions and expansion of mineralization near the Company’s existing operations of the Vale do Curaçá Property, statements with respect to any benefits of ore sorting implementation including sustainability objectives and statements with respect to any potential positive outcomes from the Deepening Inferred Project. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this Press Release including, without limitation, assumptions about: favourable equity and debt capital markets; the ability to raise any necessary additional capital on reasonable terms to advance the production, development and exploration of the Company’s properties and assets; future prices of copper and other metal prices; the timing and results of exploration and drilling programs; the accuracy of any mineral reserve and mineral resource estimates; the geology of the Vale do Curaçá Property, NX Gold Mine and the Boa Esperança Property being as described in the technical reports for these properties; production costs; the accuracy of budgeted exploration and development costs and expenditures; the price of other commodities such as fuel; future currency exchange rates and interest rates; operating conditions being favourable such that the Company is able to operate in a safe, efficient and effective manner; work force continues to remain healthy in the face of prevailing epidemics, pandemics or other health risks, political and regulatory stability; the receipt of governmental, regulatory and third party approvals, licenses and permits on favourable terms; obtaining required renewals for existing approvals, licenses and permits on favourable terms; requirements under applicable laws; sustained labour stability; stability in financial and capital goods markets; availability of equipment and critical supplies, spare parts and consumables; positive relations with local groups and the Company’s ability to meet its obligations under its agreements with such groups; and satisfying the terms and conditions of the Company’s current loan arrangements. While the Company considers these assumptions to be reasonable, the assumptions are inherently subject to significant business, social, economic, political, regulatory, competitive and other risks and uncertainties, contingencies and other factors that could cause actual actions, events, conditions, results, performance or achievements to be materially different from those projected in the forward-looking information. Many assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. Furthermore, such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking information. Such risks include, without limitation the risk factors listed under the heading “Risk Factors” in the Annual Information Form of the Company for the year ended December 31, 2019, dated March 12, 2020 (the “AIF”). Although the Company has attempted to identify important factors that could cause actual actions, events, conditions, results, performance or achievements to differ materially from those described in forward-looking information, there may be other factors that cause actions, events, conditions, results, performance or achievements to differ from those anticipated, estimated or intended. The Company cautions that the foregoing lists of important assumptions and factors are not exhaustive. Other events or circumstances could cause actual results to differ materially from those estimated or projected and expressed in, or implied by, the forward-looking information contained herein. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information contained herein is made as of the date of this press release and the Company disclaims any obligation to update or revise any forward-looking information, whether as a result of new information, future events or results or otherwise, except as and to the extent required by applicable securities laws. CAUTIONARY NOTES REGARDING MINERAL RESOURCE AND RESERVE ESTIMATES In accordance with applicable Canadian securities regulatory requirements, all mineral reserve and mineral resource estimates of the Company disclosed or incorporated by reference in this press release have been prepared in accordance with NI 43-101 and are classified in accordance with the CIM Standards. Mineral resources which are not mineral reserves do not have demonstrated economic viability. Pursuant to the CIM Standards, mineral resources have a higher degree of uncertainty than mineral reserves as to their existence as well as their economic and legal feasibility. Inferred mineral resources, when compared with Measured or Indicated mineral resources, have the least certainty as to their existence, and it cannot be assumed that all or any part of an Inferred mineral resource will be upgraded to an Indicated or Measured mineral resource as a result of continued exploration. Pursuant to NI 43-101, Inferred mineral resources may not form the basis of any economic analysis. Accordingly, readers are cautioned not to assume that all or any part of a mineral resource exists, will ever be converted into a mineral reserve, or is or will ever be economically or legally mineable or recovered.
Manchester United welcome Paris Saint-Germain on Wednesday night in what is arguably the tie of Champions League matchday 5. United have already beaten last season’s finalists once this season, with Marcus Rashford’s late goal in Paris getting the Red Devils off to a perfect start in Group H. Ole Gunnar Solskjaer’s side then thrashed RB Leipzig 5-0 to leave themselves odds-on to reach the last-16, but only picked up three points from their double-header against Istanbul Basaksehir after losing in Turkey.
This year, Young and El Moussa will have the kids on Christmas Day.
Santa Fe, NM, Nov. 30, 2020 (GLOBE NEWSWIRE) -- The International Folk Art Market (IFAM), the world’s largest folk art market, is hosting a winter virtual market December 2 – 6. The event features 27 first-time IFAM artists from Colombia, Ghana, Guatemala, India, Mexico, Peru, Ukraine and Uzbekistan. The artists, among other new Market participants, had been selected to participate in the summer event, that was canceled due to the COVID-19 pandemic. The 2020 cohort of Market artists have all been invited to return to IFAM’s next Market offering. The new work includes baskets, apparel, home textiles, jewelry, ceramics and 3D pieces.“This is the first time these artists’ work will be available at IFAM,” said Stuart Ashman, IFAM CEO. “Their body of work is incredible, and we are thrilled to unveil it at this year’s winter event.”One of the premier first-time artists is Pachan Premjibhai Siju. From India, he incorporates contemporary styles with the craftsmanship of the elders to produce one-of-a-kind shawls. His weavings tell the story of climate change on the world as a whole and the tradition of weaving. “I have been thinking about climate change,” he said. “Our original products were sustainable, but today commercial work often is not. I wanted to create work that is contemporary and sustainable.”See more about Siju and his work at: http://ifamstories.org/artists/pachan-premjibhai-siju/A father-son team are also first-time artists. From Usbekistan, Bakhtiyor and Diyorbek Nazirov both began their crafts at the age of 12. The process of making traditional Rishtan ceramics has remained mostly unchanged for more than 800 years. The Nazirovs are known for their intricate designs in blue and turquoise which, according to ancient beliefs, are the colors of pure water and cloudless sky, symbolizing happiness.See more about their work at: http://ifamstories.org/artists/bakhtiyor-nazirov-diyorbek-nazirov/The IFAM winter market items are available for preview until the market opens on December 2. Go to IFAM for more information. CONTACT: Joanie Griffin International Folk Art Market 505-261-4444 email@example.com
Although the fall of the retail group puts 13,000 jobs at risk, there will be no immediate redundancies.
The owner of Dove soap and Ben & Jerry's ice cream is testing a shorter week in New Zealand.
Timeline: the rise and fall of Philip Green. Knighted in 2006 and once worth £4.9bn, Green became the ‘unacceptable face of capitalism’