Daily Brief Energy/Materials: Pacific Metals, Nucor Corp, ALPS Clean Energy ETF, Cleveland-Cliffs Inc , Nanoco Group PLC, Omai Gold Mines and more

• A couple of weeks ago I wrote here about noted activist Murakami-san and his new 5+% position in Pacific Metals (5541 JP). I warned it might be a rug pull. 
• It turns out, from subsequent filings, that it may have been a rug pull. This isn’t the first time. It isn’t even the first time on this stock. 
• That said, there are goings on here, and it pays to watch them. 

• As per the recent earnings of Nucor Corporation, the company reported robust financial results, marking 2023 as its third most profitable year, preceded by 2021 and 2022.
• The firm earned $3.16 earnings per share in the Q4 2023 and an annual EPS of $18, signifying a commendable performance.
• The net earnings over the past three years reportedly exceeded the cumulative net earnings of the previous 20 years.

• Alternus Clean Energy, a utility-scale transatlantic clean energy independent power producer (IPP), has formed a strategic alliance with Hover Energy (Hover).
• Based in Dallas, Hover specializes in developing and implementing wind-powered microgrid systems.
• The alliance allows Alternus to secure the rights to acquire operating projects in the future without paying for any development costs upfront

• Cleveland-Cliffs Inc.
• recently conducted an earnings conference call to report their 2023 full year and fourth quarter financial results alongside their M&A strategy and capital allocation priorities going forward.
• The company’s comments were predictive and constituted forward-looking statements that may be subject to certain risks and uncertainties.

Nanoco’s trading update confirms that H124 revenues and EBITDA are anticipated to be in line with company expectations. The main new information is that the company has commenced the build and fitout of a new 300m wafer device facility to accelerate product development and test cycles with both existing and new clients. This gives Nanoco scope to grow development revenues in the near term and reduce time to market of new production materials, while aligning the development platform with infrastructure used for high-volume semiconductor manufacture.

• Omai announced a substantial MRE, increasing its Wenot indicated and inferred resources by 10% and 45% respectively.
• Resource grades also increased significantly (10% indicated, 16% inferred).
• Today’s Resource Update highlights the Company’s ability to cost- effectively increase the resource while producing what we believe should be a much more economical open-pit resource (578 Koz Au was added to the open-pit resource in this update)