Core Viewpoint - CanAlaska Uranium Ltd. announces significant changes in its Board of Directors, with Ambassador Thomas Graham Jr. stepping down as Chair and Karen Lloyd appointed as the new Chair, alongside Shane Shircliff joining the Board [2][3][9]. Board Changes - Ambassador Thomas Graham Jr. has stepped down as Chair of the Board but will remain as Chair Emeritus [3]. - Karen Lloyd, with extensive experience in uranium marketing and operations, has been appointed as the new Chair of the Board [4][5]. - Shane Shircliff has been appointed to the Board, bringing over twenty years of experience in senior management and corporate roles [6][7]. Background of New Chair - Karen Lloyd has a strong background in strategy, marketing, and operations across various industries, including mining and telecommunications, and previously managed uranium sales generating annual revenue of $1.8 to $2.4 billion for Cameco Corporation [4][5]. - Lloyd emphasizes her commitment to a clean energy future and the potential of CanAlaska's exploration portfolio in the Athabasca Basin [5]. Background of New Board Member - Shane Shircliff has extensive experience in negotiating mergers and acquisitions totaling over one billion dollars and has been involved in developing resource projects across various sectors [6][7]. - Shircliff expresses excitement about contributing to CanAlaska's growth in the uranium sector [7]. Contributions of Former Chair - Ambassador Thomas Graham Jr. has been a member of CanAlaska's board for 18 years and is recognized as a leading expert in nuclear non-proliferation [8]. - His leadership has been acknowledged by the current CEO, who looks forward to continued collaboration on the Board [9]. Company Overview - CanAlaska Uranium Ltd. holds interests in approximately 500,000 hectares in Canada's Athabasca Basin and is positioned as a project generator in the uranium sector [10]. - The company is currently collaborating with major mining companies like Cameco and Denison on joint venture projects [10].

Drillhole WMA082-8 intersected one main interval of 6.87% eU3O8 over 16.9 metres, including 11.62% eU3O8 over 9.3 metres in the basement approximately 25 metres below the unconformity with additional lower grade intervals throughout the hole (Figure 2; Table 1). The unconformity contact between the Athabasca sandstone and underlying basement rocks is interpreted to be at 799.0 metres down hole. The main mineralized zone, starting approximately 24 metres into the basement, is characterized by massive to semi ...

Core Viewpoint - CanAlaska Uranium Ltd. is mobilizing drill crews for a summer drill program focused on expanding the ultra high-grade Pike Zone uranium discovery in the West McArthur Joint Venture project, with a budget of $7.5 million for 2024 [9][10]. Group 1: Drill Program Details - The summer drill program will utilize two diamond drills for approximately 9,000 metres of planned drilling, aiming for 10 to 14 unconformity target intersections [10]. - Recent high-grade uranium intersections were reported, including 14.9% U3O8 over 9.6 metres in WMA082-6 and 9.9% U3O8 over 14.5 metres in WMA082-4 [9]. - The Pike Zone is interpreted to extend approximately 150 metres at the unconformity and 160 metres into the basement, with high-grade mineralization remaining open in all directions [2][12]. Group 2: Strategic Importance - The C10S corridor, which is sparsely tested, shows significant potential for additional high-grade mineralization based on recent positive results [3]. - CanAlaska holds an 83.35% ownership in the West McArthur project, which is operated in partnership with Cameco Corporation [9]. - The company is also exploring other properties in the Athabasca Basin, which is known for its rich uranium deposits [19]. Group 3: Management and Future Outlook - CEO Cory Belyk expressed optimism about the expansion drilling program at Pike Zone, indicating that continued success could be a turning point for the company and its shareholders [12]. - The summer portion of the exploration program is expected to be completed by September 2024 [17]. - Management representatives will attend the Cormark Securities Inc. Energy Inflection Conference on June 19, 2024, in Toronto [18].

Zacks Investment Research has recently initiated coverage of CVD Equipment Corporation (CVV) , assigning an "Underperform" recommendation to the company's shares. This bearish stance reflects significant concerns over the company's recent financial performance and operational challenges. CVD Equipment, headquartered in Central Islip, NY, designs, develops and manufactures advanced materials and process equipment for the compound semiconductor, semiconductor, aerospace and battery energy storage markets, as ...

. . CanAlaska Provides Update on Partner Operated Winter Drill Programs June 06, 2024 7:30 AM EDT | Source: CanAlaska Uranium Ltd. Figure 1 – Moon Lake South and Geikie Project Locations The Company is pleased to announce results from the 2024 winter drill program on the Geikie Project. The 2024 winter exploration program consisted of eight completed diamond drill holes for a total of 2,295 metres, designed to follow-up on the success of the 2023 drill program and to test high-priority gravity anomalies ide ...

CVD Equipment Corporation (NASDAQ:CVV) Q1 2024 Earnings Conference Call May 13, 2024 5:00 PM ET Company Participants Emmanuel Lakios - President and Chief Executive Officer Richard Catalano - Executive Vice President and Chief Financial Officer Conference Call Participants Brett Reiss - Janney Montgomery Scott Operator Greetings, and thank you for standing by. And welcome to CVD's Equipment Corporation's First Quarter Fiscal Year 2024 Earnings Conference Call. As a reminder, this conference is being recorde ...

Revenue Performance - Revenue for Q1 2024 was $4.922 million, a decrease of 43.5% compared to $8.695 million in Q1 2023[11] - For the three months ended March 31, 2024, total revenue decreased by $3.8 million or 43% to $4.9 million compared to $8.7 million in the prior year[77] - CVD Equipment segment revenue declined by $2.9 million or 50% to $2.9 million, while the SDC segment revenue decreased by $0.3 million or 12% to $1.9 million[78][79] - Consolidated revenue for the company reached $4,922 million, with CVD Equipment contributing $2,947 million and SDC contributing $1,931 million[87] Profitability and Losses - Gross profit for Q1 2024 was $859 thousand, down from $2.434 million in Q1 2023, reflecting a gross margin of approximately 17.4%[11] - Operating loss for Q1 2024 was $(1.623) million, compared to an operating loss of $(187) thousand in Q1 2023[11] - Net loss for Q1 2024 was $(1.472) million, resulting in a loss per share of $(0.22), compared to a net loss of $(40) thousand and a loss per share of $(0.01) in Q1 2023[11] - Gross profit for the same period declined by $1.6 million or 65% to $859,000, resulting in a gross profit margin of 17.5% compared to 28.0% in the previous year[69] - The company reported an operating loss of $1,623 million, with CVD Equipment experiencing a loss of $1,405 million[87] - The overall financial performance indicates a need for strategic adjustments to address the significant operating losses[87] Assets and Liabilities - Total current assets increased to $23.336 million as of March 31, 2024, compared to $22.841 million at the end of 2023[10] - Total liabilities rose to $10.445 million as of March 31, 2024, up from $8.822 million at the end of 2023[10] - Stockholders' equity decreased to $24.998 million as of March 31, 2024, down from $26.203 million at the end of 2023[10] - The company reported total inventories of $4,925 million as of March 31, 2024, compared to $4,454 million as of December 31, 2023[30] - Total assets for the company were reported at $35,443 million, with CVD Equipment's assets at $31,412 million[87] Cash Flow and Investments - The company reported cash and cash equivalents of $11.893 million as of March 31, 2024, down from $14.025 million at the end of 2023[10] - Cash and cash equivalents decreased to $11,893 million at the end of the period from $14,025 million at the beginning of the period[14] - Net cash used in operating activities was $2,043 million, an improvement from $3,272 million in the prior year[14] - Net cash used in investing activities for the three months ended March 31, 2024, included capital expenditures of $70,000[85] - The company invested $76 million in the purchase of property, plant, and equipment[87] Research and Development - Research and development expenses increased to $746 thousand in Q1 2024, compared to $602 thousand in Q1 2023, indicating a focus on innovation[11] - Research and development expenses rose by $144,000 or 24% to $746,000 compared to the previous year[77] - The company plans to develop new products for the high power electronics market, including the PVT200 for growing silicon carbide crystals[67] Operational Challenges - The company operates in a challenging economic environment, facing impacts from geopolitical conflicts and supply chain disruptions[66] - Supply chain disruptions have led to longer lead times and inflationary pressures, impacting revenue recognition[91] Customer and Market Dynamics - The company had a significant concentration of credit risk, with one customer accounting for 67.2% of total accounts receivable as of March 31, 2024[50] - The revenue from the SDC segment represented 40% of overall revenue for the three months ended March 31, 2024, compared to 25% in the prior year[79] - Total bookings for Q1 2024 were approximately $13.6 million, a significant increase from $2.9 million in Q1 2023[96] - The company increased its backlog from $18.4 million at December 31, 2023, to $27.1 million as of March 31, 2024[71] Stock Options and Compensation - The company recorded stock-based compensation of $267 million for the three months ended March 31, 2024, compared to $135 million in the prior year[14] - The company granted 5,000 stock options with a weighted average fair value of $3.30 during the three months ended March 31, 2024[58]

CVD Equipment Corporation Reports First Quarter Fiscal Year 2024 Financial Results CENTRAL ISLIP, N.Y., (Business Wire) – May 13, 2024 - CVD Equipment Corporation (NASDAQ: CVV), today announced its financial results for the first quarter ended March 31, 2024. Manny Lakios, President and CEO of CVD Equipment Corporation, commented, "First quarter 2024 revenue was $4.9 million, down significantly versus the prior year period, as our business continues to experience fluctuations in revenue given the nature of ...

Financial Data and Key Metrics Changes - Fourth quarter 2023 revenue was $4.1 million, a decrease of approximately 43% compared to the prior year period [3][7] - Fiscal 2023 revenue totaled $24.1 million, down $1.7 million or about 7% from the previous year [5][16] - Operating loss for the fourth quarter was $2.5 million, compared to an operating loss of $221,000 in the prior year [8] - Net loss for the quarter was $2.3 million, or $0.33 per share, compared to net income of $1.5 million, or $0.23 per share in the fourth quarter of 2022 [8] - Gross profit margin for fiscal 2023 was 21%, down from 26% in the prior year [15] Business Line Data and Key Metrics Changes - CVD equipment segment revenue decreased by approximately $0.4 million, primarily due to lower PVT 150 system revenues [5] - CVD Materials revenues were lower by about $2 million due to the sale of a subsidiary and the wind-down of operations [15] - System revenues for the fourth quarter were impacted by a cost overrun on a launch contract [7][29] Market Data and Key Metrics Changes - Backlog increased slightly to $18.4 million from $17.8 million year-over-year [30] - Cash and cash equivalents at December 31, 2023, were $14 million, down from $14.4 million the previous year [18] Company Strategy and Development Direction - The company aims to expand its presence in high-power electronics, battery materials, aerospace, and industrial applications [13] - Recent orders include a $10 million multi-system order for silicon carbide CVD coating reactors, indicating a focus on industrial applications [14][37] Management's Comments on Operating Environment and Future Outlook - Management expressed disappointment with both fourth quarter and full year performance, emphasizing the need to return to consistent profitability [3] - The company is cautious about predicting future results due to economic and geopolitical uncertainties [9] - Management noted that the demand for silicon carbide devices has been adjusted and pushed out, affecting order volumes [23][24] Other Important Information - Operating expenses increased due to higher employee-related costs and additional selling expenditures, partially offset by lower bonus costs [6] - The company is taking corrective actions to mitigate cost overruns experienced in the past [22] Q&A Session Summary Question: What caused the cost overrun and what measures are in place to prevent it from happening again? - Management acknowledged understanding the causes of the cost overrun and has implemented corrective actions to mitigate future occurrences [22] Question: Why have there been no new PVT 150 orders for about a year? - Management indicated that demand for silicon carbide devices has slowed, affecting order volumes, and noted a general marketplace slowdown [23][24] Question: What is the current backlog and how does it reflect future orders? - Management confirmed that the backlog is $18.4 million, with additional orders expected to increase this figure [34] Question: Are there other areas in the business that can compensate for the slowdown in electric vehicle enthusiasm? - Management highlighted that the company serves multiple markets, including aerospace and industrial applications, which may help offset the slowdown in electric vehicle demand [27][41]

Revenue Performance - Fourth quarter 2023 revenue was $4.1 million, down $3.1 million or 43.2% year over year due to lower system revenues [28]. - Full year 2023 revenue totaled $24.1 million, a decrease of $1.7 million or 6.6% compared to the prior year [20]. - New orders booked in 2023 totaled $25.8 million, a decrease of approximately 22.1% compared to 2022 bookings of $33.1 million [30]. Profitability - Gross profit margin for 2023 was 21.0%, down from 25.7% in the previous year, attributed to significant cost overruns on a large contract [20]. - Operating loss for the fourth quarter was $2.5 million, while the full year operating loss was $4.9 million [28][11]. - Net loss for the fourth quarter was $2.3 million or $0.33 per share, compared to a net income of $1.5 million or $0.23 per share in the prior year [28]. Cash Position - Cash and cash equivalents as of December 31, 2023, were $14.0 million, slightly down from $14.4 million a year earlier [28]. Backlog and Orders - Backlog as of December 31, 2023, was $18.4 million, an increase from $17.8 million at the end of the prior year [30]. - The company received a $10 million multisystem order for a SiC CVD coating reactor from an industrial customer [19]. Cost Management - The company plans to reduce operating costs in response to current customer demand, resulting in a workforce reduction in early January 2024 [21].