A solar racking system’s strength is determined in part by the metal racking, but it also depends on the roof’s underlying structure. Rafters and any supporting structures must be strong enough to withstand your region’s maximum wind and snow loads.
In our first article of our Solar 101 series, (“Is my roof ready for solar?“) we discussed the age of our roof and how it affects the finances involved in a solar installation.
Now, we’ll consider the roof’s physical characteristics. After all, the roofing material type and its underlying structure, as well the various angles of its faces and layout, will affect many aspects of the installation.
Attaching the solar panels
Most rooftops in the United States are built up from plywood and finished with asphalt shingles. However, depending on your region and neighborhood aesthetic, the top layer of the roofing type can vary greatly. We often find Spanish tiles in the south, metal seam roofs in the far north, and clay, slate, and concrete tile products peppered all over the map.
All of these roof types will require a mechanical attachment.
QuickMountPV offers up an installation guide – with a very nice series of images – for those installing solar power on top of tiled roofs.
In this installation tweet from Sunrun, you can see how to attach to the plywood base layer of a roof. Underneath the metal flashing, you can see a series of lag bolts and silicon that cures and seals the attachment.
A metal seam roof will also require a hard attachment to the roof, but via a less obtrusive tool, perhaps by someone like S-5!. This quick video by S-5! gives an idea of how that attachment occurs.
But most installations won’t be like these three examples. They will use standard flashing and lag bolts drilled through the existing asphalt shingles.
All major racking manufacturers provide this hardware. Quickbolt offers a unique – almost cute – “microflashing” unit. This is as simple as it gets: drill hole, install sealant, tighten fastener.
Racking hardware connects your panels to the L-feet and the flashing connections mentioned above. All of this hardware is built to engineering specifications and are ready to hold up to the worst that Mother Nature can deliver.
Building codes and setbacks
In South Florida, the local building code requires some rooftop solar systems within a mile of the ocean to be able to withstand uplift generated by winds greater than 180 miles per hour. In the northern United States, snow loads greater than 50 pounds per square foot must be accounted for.
Wind and snow loads dictate a lot about how your solar system is designed. Racking manufacturer Unirac includes general solar panel setback from the edge of roof requirements in its installation manuals.
In the images below, the areas where wind forces are highest are represented in gray. Thus, engineers suggest we ‘”set back” our solar panels from these areas, or pay extra for hardware to strengthen the attachment points.
The strength of a solar racking system is determined in part by the metal racking, but it also depends on the roof’s underlying structure. Specifically, rafters (or trusses) and any supporting structures must be strong enough to withstand your region’s maximum wind loads.
The lag bolts noted above are generally drilled into the wood beams underneath the base layer of your roof’s plywood. As a rule of thumb, in most homes we’re looking for a minimum of two-inch-thick wood beams spaced no more than 36 inches apart.
Your installer will most likely consult with a state-certified structural engineer to determine if your home’s construction is appropriate for solar. While most homes are deemed structurally sound, proving that to some building departments can sometimes be a bit costly.
Wanted: Big chunks of roof
Now that we’ve covered the basics of connecting solar panels to a roof, it’s time to find a place for the panels. The most obvious feature we’re looking for is large, uninterrupted roof space. Bigger chunks of roof are easier, and cheaper, to install solar panels.
Keep in mind that a standard residential solar panel is roughly five and a half feet tall by three feet wide. Pictured below, this 290 to 320 watt solar panel from URE represents a standard residential product. Panel sizes vary by manufacturer and model. For instance, Solaria’s 400 watt PowerXT high efficiency panel is an extra six inches wider.
Using these approximate sizes of the panels and our roof, we can determine roughly how many panels will fit on our roof, and where.
In our next article, we discuss how a home’s latitude affects a solar project’s design and performance. We will also offer examples of how to calculate the electricity generated by a system.
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More Electric Aircraft Market to Reach $4.61 Bn, Globally, by 2027 at 15.5% CAGR: Allied Market Research
PORTLAND, Ore., May 11, 2021 /PRNewswire/ — Allied Market Research published a report, titled, “More Electric Aircraft Market by Aircraft System (Propulsion System and Airframe System), Application (Power Generation, Power Distribution, Power Conversion, and Energy Storage), and Aircraft Type (Fixed-wing and Rotary-wing), and End User (Civil and Military): Global Opportunity Analysis and Industry Forecast, 2020–2027.” According to the report, the global more electric aircraft industry generated $1.80 billion in 2019, and is expected to reach $4.61 billion by 2027, witnessing a CAGR of 15.5% from 2020 to 2027.
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Prime determinants of growth
Rise in demand for high-performance fuel-efficient and less polluting aircraft and demand for aircraft with low operational and maintenance costs drive the growth of the global more electric aircraft market. However, high capital requirements and reliability of aircraft electrical systems hinder the market growth. On the other hand, advancements in battery solutions and electronic components and development of alternative power sources create new opportunities in the coming years.
- The governments enforced lockdown in many countries, which led to stoppage of manufacturing facilities and shortage of raw materials. So, the manufacturing activities of more electric aircraft were partially or completely shut down.
- The air traffic reduced due to ban on international travel and import and export activities. This led to reduced demand for more electric aircraft.
- In addition, there were delays in new initiatives regarding development of innovative more electric aircraft solutions.
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The propulsion systems segment to maintain its leadership status during the forecast period
Based on aircraft system, the propulsion systems segment contributed to the highest market share in 2019, holding nearly three-fifths of the global more electric aircraft market, and is projected to maintain its leadership status during the forecast period. This is due to increase in demand for low fuel emission aircraft. However, the airframe systems segment is projected to register the fastest CAGR of 16.8% from 2020 to 2027, owing to the trend of modification and modernization of the airframe system to enhance the performance of the aircraft.
The power distribution segment to maintain its lead position during the forecast period
Based on application, the power distribution segment accounted for the highest share in 2019, contributing to nearly half of the global more electric aircraft market, and will maintain its lead position during the forecast period. Moreover, this segment is estimated to manifest the highest CAGR of 16.3% from 2020 to 2027. This is attributed to rise in the adoption of more electric aircraft technology that led to movement toward electrical components from the conventional mechanical systems to lower down heavy wiring and raise the optimization of the aircraft performance. The research also analyzes the segments including power generation, power conversion, and energy storage.
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Europe, followed by North America, to maintain its dominance in terms of revenue by 2027
Based on region, Europe, followed by North America, held the highest share in terms of revenue in 2019, accounting for more than two-fifths of the global more electric aircraft market, and will maintain its dominance in terms of revenue by 2027. This is attributed to aligning of the workforce by many European countries to design and create more electric aircraft technologies for the European aviation industry. However, Asia-Pacific is expected to manifest the highest CAGR of 17.2% during the forecast period, owing to rapidly growing air traffic in the region.
Leading market players
- AMETEK, Inc.
- BAE Systems PLC
- Bombardier Inc.
- Elbit Systems Ltd.
- GE Aviation
- Honeywell International Inc.
- Raytheon Technologies Corporation
- Rolls-Royce Holdings PLC
- Thales Group
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Similar Reports We Have on Electric Vehicles Industry:
Electric Aircraft Market by Component (Battery, Electric Motor, and Others), Technology (Hybrid and All Electric), Product (Cascade, Pivot Door, and Bucket), Manufacturing Process (Hand Layup, ATL/AFP, and Resin Infusion), System (Power Electronics, Thermal Management, Safety System & Advanced Component, and Energy Storage Devices), and Aircraft Type (Ultralight Aircraft, Light Jets, and Regional Jets): Global Opportunity Analysis and Industry Forecast, 2019-2030.
Hydrogen Aircraft Market by Passenger Capacity (Less than 100, 100-200, and More than 200), Range (Short Haul, Medium Haul, and Long Haul), and Application (Passenger Aircraft and Cargo Aircraft): Global Opportunity Analysis and Industry Forecast, 2030–2040.
Ultralight Aircraft Market by Material (Aluminum, Composites, and Others), Aircraft Type (Fixed Wing, Flex Wing, and Rotary Wing), Engine Type (Fuel Engine and Electric Engine), and Application (Recreation, Commercial, and Defense): Global Opportunity Analysis and Industry Forecast, 2019–2030.
Unmanned Aircraft Systems (UAS) Market by Size (Very Small UAS, Small UAS, Mini UAS, and Large UAS), Range (Close Range, Short Range, and High Range), Energy Source (Traditional Airplane Fuel, Battery Cells, and Fuel Cells), Type (Fixed Wing and Rotary Wing), and End User (Civil, Military, and Commercial): Global Opportunity Analysis and Industry Forecast, 2020-2027.
Autonomous Aircraft Market by Component (Radars &Transponders, Propulsion Systems, Cameras, Sensors, Actuation System, Air Data Inertial Reference Units, Flight Management Computers, Software and Others), Technology (Fully Autonomous and Increasingly Autonomous), End Use (Passenger Air Vehicle, Personal Air Vehicle, Combat & Intelligence, Surveillance, and Reconnaissance (ISR), Air Medical Services, Cargo & Delivery Aircraft and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027.
Helicopters Market by Type (Military and Civil & Commercial), Application (Military and Civil & Commercial), and Component & System (Airframe and Engine): Global Opportunity Analysis and Industry Forecast, 2020-2027.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Thermoelectric Modules Market worth $872 million by 2026 – Exclusive Report by MarketsandMarkets™
CHICAGO, May 11, 2021 /PRNewswire/ — According to the new market research report “Thermoelectric Modules Market with COVID-19 Impact Analysis, By Model (Single Stage, Multi Stage), Type (Bulk, Micro, Thin Film), Functionality (General Purpose, Deep Cooling), End-Use Application, and Region – Global Forecast to 2026“, published by MarketsandMarkets™, the market is projected to grow from USD 593 million in 2021 to USD 872 million by 2026; it is expected to grow at a CAGR of 8.0% during the forecast period. Owing to COVID-19, the thermoelectric modules market is estimated to face headwinds for 2020–2021. The growth of the thermoelectric modules market is driven by factors such as increasing demand for electric and luxury vehicles and the growing deployment of 5G connectivity. The new high-speed 5G telecommunication standard presents thermal challenges for critical components such as optical transceivers. Optical transceivers contain a laser diode that needs to be kept below 70°C to ensure no loss of data transmission wherein TEMs need to be deployed. Hence, with the increasing deployment of 5G equipment, there will be an increasing demand for TEMs in telecommunications. TEMs are expected to be used in future electric vehicles. TEMs are used in electric vehicles to stabilize the temperature of a car’s battery-operated system, especially for colder climates where battery efficiency can be reduced by up to 40%.
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Single stage thermoelectric modules to account for larger share of thermoelectric modules market in 2021
Single-stage thermoelectric modules account for a larger share of the thermoelectric modules market and the trend will remain the same during the forecast period. Single-stage thermoelectric modules are suitable for a wide range of cooling and heating applications with low to high heat pumping capacities (depending on the module specifications). The main advantage of a single-stage module is that it covers a vast array of consumer, commercial, and industrial needs as it is available in many shapes and sizes while offering different levels of heat pumping capabilities. It is also less complex to design and manufacture compared to multistage modules.
Bulk thermoelectric modules segment to dominate thermoelectric modules market during forecast period
Bulk thermoelectric modules accounted for the largest share of the thermoelectric modules market and the trend will remain the same during the forecast period. Bulk thermoelectric modules are suitable for a wide variety of applications and have no design constraints compared to micro or thin-film thermoelectric modules. These modules can be configured for different power draw and cooling capabilities based on their design. They are also less complex to design, and manufacture compared to smaller modules. Bulk thermoelectric modules are widely used to make related components such as thermoelectric generators (TEGs) and heat pumps. TEGs are used in power plants to convert waste heat into additional electrical power. They are prevalent in industrial processes and heating as TEGs have long service-free lifetimes compared to other conventional generators.
Consumer Electronics application to register highest share for thermoelectric modules market in 2021
Thermoelectric modules used in consumer electronics accounted for the largest share of the thermoelectric modules market and the trend will remain the same during the forecast period. Consumer electronics manufacturers must constantly innovate and improve designs to create smaller, thinner, lighter, and more reliable products that meet customer demands. Due to fast-changing consumer preferences, thermoelectric cooling solutions offer a competitive advantage by enabling OEMs to develop desirable products and bring them faster to the market. Beverage dispensers including coffee and juice/milk machines require a thermoelectric module that delivers efficient performance, low operating noise, and low maintenance requirements. Water purification systems are another application area, which requires thermoelectric coolers for both cooling and heating water. Thermoelectric solutions are also expected to be featured in consumer wearables in the future. Hence, consumer electronics holds the largest market for thermoelectric modules.
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Market in APAC estimated to have largest share during forecast period
APAC has emerged as a global focal point for large investments and business expansion opportunities. The region represents the fastest-growing market worldwide for thermoelectric modules. The increased demand for waste heat recovery, consumer goods, industrial automation, and healthcare monitoring devices is expected to drive this market in the region. APAC has a large consumer electronics industry consisting of countries such as China, Japan, and South Korea, which is the largest manufacturer and end user of consumer devices. South Korea is an important country for manufacturing portable consumer devices while China is the largest exporter of consumer refrigeration devices. Hence, for consumer electronics, the market in APAC is expected to continue to grow as markets in North America and Europe continue to stagnate over time.
North America is the most adversely affected region by the pandemic. Hesitant consumer spending on refrigerator and freezer replacements will drive the demand down for thermoelectric modules for consumer electronics. A decrease in disposable personal income is driving consumer reluctance to replace old appliances as a result of lower spending power in the US and Canada. The North American automotive market witnessed a sharp decline in 2020, resulting in fewer vehicle sales despite the introduction of new vehicle models by major automobile manufacturers. Many existing and potential vehicle buyers in North America are deferring their purchases at present. The commercial aerospace market in North America has also been severely affected, particularly in the US. The purchase of civilian aircraft production in 2020 has declined to around half of that of 2019, which, in turn, has reduced the demand for thermoelectric modules in aerospace applications.
Major vendors in the thermoelectric modules market include Ferrotec (US), II-VI Incorporated (US), KELK (Japan), Laird Thermal Systems (US), Guangdong Fuxin Technology (China), TE Technology (US), Phononic (US), INHECO Industrial Heating & Cooling (Germany), TEC Microsystems (Germany), Crystal (Russia), Kryotherm (Russia), Z-Max (Japan), Kyocera Corporation (Japan), Align Sourcing (US), HiTECH Technologies (US), Hi-Z Technology (US), Merit Technology Group (China), KJLP ELECTRONICS (China), P&N Technology (China), Thermonamic Electronics (China), Hui Mao (China), Wellen Technology (China), and Xiamen HIcool Electronics (China).
Thermal Management Market with COVID-19 impact Analysis by Material, Device (Conduction, Convection, Advanced, and Hybrid), Service (Installation & Calibration and Optimization & Post-sales Support), End-Use Industry, and Region – Global Forecast to 2025
Energy Harvesting System Market by Technology (Light, Vibration, RF, Thermal), Component, Application (Building & Home Automation, Consumer Electronics, Industrial, Transportation, Security), and Region – Global Forecast to 2025
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Global Safes and Vaults Market Analysis, Trends, and Forecasts 2020-2024 | Technavio
The safes and vaults market is poised to grow by USD 2.09 billion between 2020-2024, progressing at a CAGR of over 6% during the forecast period.
The number of prescription drug-related thefts has increased considerably. Drug burglaries involve the theft of drugs, especially opioids, such as oxycodone, morphine, hydrocodone, and other high-strength pain relievers, mostly by medical professionals who intend to gain profits by selling the drugs in the black market. Safe storage of drugs like opioids is heavily promoted by the governing bodies of several countries to prevent illegal use. For instance, controlled drugs and related wastes in Australia must be stored in safes and vaults incorporated with alarms, video monitoring systems, seismic detectors, and locking mechanisms with dual authorization. Moreover, medical marijuana and marijuana-infused products are stored in safes and vaults as per the mandatory rule from The state of Massachusetts in the US. The demand for safes and vaults is increasing to store prescription drugs and other high-value medicines, which in turn, will boost the market growth.
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Over 37% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for safes and vaults in APAC. Market growth in this region will be faster than the growth of the market in other geographies. The safes and vaults market growth in this region can be attributed to the increasing installation of ATMs and the establishment of delivery lockers in IT parks and large residential complexes by e-commerce companies.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
Know About the Key Opportunities and Growth of Safes and Vaults Market in Industrial Machinery Sector
The safes and vaults market is segmented by product (cash management safes, gun safes and vaults, depository safes, vaults and vault doors, and others), end-user (non-banking and banking), and geography (APAC, Europe, MEA, North America, and South America).
To enhance the safety and convenience features of cash management safes, market vendors are integrating advanced technologies and software. The growth of the safes and vaults market in the cash management safes segment can be attributed to the evolving consumer requirements, development of advanced software solutions, and increasing demand for ATM safes. Market growth in this segment will be faster than the growth of the market in the gun safes and vaults, depository safes, and vaults and vault doors segments.
The market is currently fragmented, and the degree of fragmentation will increase during the forecast period. Market vendors are integrating advanced technologies and automated solutions in their products to enhance security and convenience.
Key Market Dynamics:
- Increasing demand from the healthcare industry
- Incorporation of advanced technologies in safes and vaults
- Increased cashless transactions
- Alpha Guardian
- American Security Products Co.
- BROWN SAFE MANUFACTURING INC.
- Diebold Nixdorf, Inc.
- dormakaba Holding AG
- Godrej Group
- Gunnebo AB
- Hayman Safe Co Inc.
- Kale Endüstri Holding AS
- Kumahira Co. Ltd.
Related Reports on Industrials Industry Include:
Ultra-low Temperature Freezer Market by End-user and Geography – Forecast and Analysis 2020-2024: The ultra-low temperature freezer market size has the potential to grow by USD 184.57 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period. To get extensive research insights: Download Our Exclusive Sample Report
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- Five Forces Analysis
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Gold Recently Posted Its Biggest Weekly Gain Since The Start Of 2021
PALM BEACH, Fla., May 11, 2021 /PRNewswire/ — The Pandemic has not just harmed humans, it has shred economies around the world, but as each country tries to heal their economy there are unintended results. For instance, in the US, high inflation as a result of large government initiatives… drives the price of precious metals up and up. A December article by metals watchers, FXEmpire said that the collapsing dollar could push gold to $2300 by May 2021. They said that: “The dollar is in the middle of a significant devaluation. The current breakdown could extend into Q2 2021 before the next rebound. We expect sharply higher precious metals prices as a result, with silver and platinum taking the lead… We are in a similar setup to the post-trendline breakdown of gold in 2002/2003. Consequently, (we) believe the dollar is on the verge of an accelerated decline towards 80. The weakening dollar should push gold higher into April/May 2021 before the next 6-month cycle correction.” Another industry insider, Kitco.com said: “Gold is looking to post its biggest weekly gain since the start of the year as prices crack through $1,800 and set sights on $1,850 an ounce. Analysts are not even ruling out $1,900 for next week, as they cite inflation fears and weaker U.S. dollar. At one point, gold was up more than $70 on the week on Friday, trading above $1,840 an ounce. This strength comes after more than two months of consolidation below the $1,800 level. The final push higher came as the U.S. posted much weaker-than-expected employment data. The U.S. saw only 266,000 jobs created in April. And even though that the number is still healthy, markets were expecting to see one million jobs. The disappointment was doubled when the March figures were revised from 916,000 to 770,000.” Active mining stocks mentioned in today’s commentary include: Ridgestone Mining Inc. (OTCQB: RIGMF) (TSX-V: RMI), Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX), YAMANA GOLD INC. (NYSE:AUY) (TSX:YRI), Kirkland Lake Gold Ltd. (NYSE:KL) (TSX:KL), Gold Fields Limited (NYSE: GFI).
The Kitco.com article continued: “What we’ve seen is a very significant disappointment. The economy is counting to recover, but it looks like the speed of the recovery, at least on the employment side, may not be as robust as people have hoped for,” TD Securities head of global strategy Bart Melek told Kitco News. This has significant implications when it comes to monetary policy expectations. “That means the Fed will stay true to its words that they will keep the easy monetary policy until they reach maximum employment. It looks like the U.S. is going to have unemployment issues for a while,” Melek pointed out.”
Ridgestone Mining Inc. (TSX-V: RMI) (OTCQB: RIGMF) (FSE: 4U5) BREAKING NEWS – RIDGESTONE RELEASES MAIDEN MINERAL RESOURCE ESTIMATE AT GUADALUPE Y CALVO, MEXICO – Ridgestone Mining (“Ridgestone”) is pleased to announce a maiden National Instrument 43-101 (NI 43-101) Mineral Resource Estimate for it’s Guadalupe y Calvo (“GyC”) gold-silver project in Chihuahua, Mexico. The maiden mineral resource was estimated for two principal mineralized structures, the Rosario and Nankin veins, captured within a combined pit-constrained and underground mineral resource model. Mineralization at GyC remains open for expansion both along strike and down-dip at depth. The GyC project is comprised of 20 square kilometres. Ridgestone entered into an option agreement with Endeavour Silver in December 2020 to acquire a 100% interest in the property.
- Indicated Mineral Resource: 356,000 ounces of gold-equivalent at an average grade of 1.72 g/t AuEq
- Inferred Mineral Resource: 460,000 ounces of gold-equivalent at an average grade of 4.65 g/t AuEq
* Mineral Resource Estimate for a combined pit constrained and underground scenario at a cut-off grade of 0.27 g/t AuEq in-pit and 1.33 g/t AuEq underground
“We are very pleased with this significant initial mineral resource estimate” commented Jonathan George, CEO “which is a material milestone for any junior exploration company and provides a solid foundation as we move forward to expand the resource both along strike and at depth. We are currently finalizing plans for an upcoming drill program which is planned for this fall after the rainy season. We believe this year will be an exciting and transformational year for the Company as we continue to concurrently advance our Rebeico copper-gold project in conjunction with our GyC gold-silver project.”
The estimate was completed by Marc Jutras, P.Eng., M.A.Sc. of Ginto Consulting Inc. and complies with National Instrument 43-101 (“NI 43-101”) and guidelines developed in 2014 by the Canadian Institute of Mining and Metallurgy (“CIM”). Mr. Jutras is a registered professional engineer in the provinces of British Columbia, Quebec and Newfoundland and is independent of Ridgestone. In accordance with NI 43-101 a Technical report will be filed on SEDAR within 45 days of this release. CONTINUED… Read this full release more news for Ridgestone Mining by visiting: https://www.financialnewsmedia.com/news-rmi/
In other mining news of note:
Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) recently reported its results for the first quarter of 2021, noting that with gold and copper production on plan, it was well positioned to achieve its annual guidance. Production in the latter half of the year is expected to be higher than the first, mainly due to mine sequencing at Nevada Gold Mines, the commissioning of the new leach pad facility at Veladero in Argentina, the ramp-up of underground mining at Bulyanhulu and higher anticipated grades at Lumwana in Zambia.
Barrick’s Tier One gold mines all delivered strong financial performances in Q1 while revenue from its copper mines rose by 31% due to higher copper prices. Net cash increased by $0.5 billion despite an advanced tax payment to the state of Nevada on the back of operating cash flow of $1.3 billion and free cash flow of $0.8 billion.
Financial Results – Strong Earnings and Cash Flows Further Strengthening Cash Balances and Balance Sheet Were: Net earnings of $54.7 million or $0.06 per share basic and diluted compares well to net earnings of $45.0 million or $0.05 per share basic and diluted a year earlier; Adjusted net earnings were $67.2 million or $0.07 per share basic and diluted compared to adjusted net earnings of $47.2 million or $0.05 per share basic and diluted a year earlier; Cash flows from operating activities were $160.2 million and net free cash flow was $123.5 million, in line or above the averages of the preceding three quarters, further demonstrating the strength and resilience of the cash flow generation capacity of the Company; Cash flows from operating activities before net change in working capital were $183.4 million, and free cash flow before dividends and debt repayments was $76.0 million; As at March 31, 2021, the Company had cash and cash equivalents of $678.1 million, and available credit of $750.0 million, for total available liquidity of approximately $1.4 billion. Cash balances include $222.8 million available for utilization by the MARA Project. The remainder of cash and cash equivalents of $455.3 million, along with further liquidity and incoming cash flows, is more than sufficient to fully manage the Company’s business and available for the Company’s capital allocation objectives; and the Company’s quarterly dividend rate of $0.02625 per share (annual $0.105 per share) is 110% higher than the same quarter in 2020 and 425% than the same quarter in 2019.
Kirkland Lake Gold Ltd. (NYSE:KL) (TSX:KL) recently announced results from 38 holes and two wedge holes (23,911 m) of drilling along the Detour Mine Trend (“DMT”) at the Detour Lake property. The new holes being reported are the fifth batch of results from the recently announced 270,000 m exploration program, which the Company is targeting for completion by the end of 2021. The program is being completed to collect information for an updated, and potentially expanded, Mineral Reserve and to support the completion of a new production plan, expected to be released in early 2022. Most of the new holes announced today are from drilling in the Saddle Zone, located between the existing Main Pit and planned West Pit locations, which has been underexplored and has no Mineral Reserves and only limited Mineral Resources. Several new holes are also being announced from the area west of the West Pit Mineral Reserves, which also contains limited past drilling.
Gold Fields Limited (NYSE: GFI) recently published its Integrated Annual Report 2020 (IAR) and a number of associated reports on its website. These are the statutory Annual Financial Report 2020 (AFR), including the Governance Report, containing the audited consolidated financial statements for the year ended 31 December 2020, the Notice to Shareholders of the Annual General Meeting (AGM) and the 2020 Mineral Resources and Mineral Reserves Supplement. The relevant documents will also be posted to shareholders over the next few days.
These audited results contain no modifications to the reviewed financial results published on the Stock Exchange News Service on 18 February 2020. The IAR and the AFR incorporate all aspects of the Group’s business, including reviews of the South African, West African, Australian and South American operations, the Group’s project activities, as well as detailed financial, operational and sustainable development information.
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This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
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