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January 13, 2025

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Sarama Resources Consolidates Position in Western Australian Goldfields

Sarama Resources Ltd. (“Sarama” or the “Company”) (ASX:SRR, TSX- V:SWA) is pleased to advise that it has executed a non-binding Heads of Agreement (the “HoA”) with Orbminco Limited (“Orbminco”) (ASX: OB1), an arm’s length third party, to acquire a majority(1) and controlling interest(1) in the under- explored, belt-scale 420km² Mt Venn Project (the “Project”)(2), located in the Eastern Goldfields of Western Australia.

This follows Sarama’s recent acquisition of a majority interest in the 580km² Cosmo Project, approximately 45km to the west of the Mt Venn Project. Both projects are well-positioned and underexplored, presenting an exciting opportunity for Sarama in the Laverton Gold District which is known for its prolific gold endowment (refer Figure 1).

Highlights

  • Non-binding Heads of Agreement executed for acquisition of 80% interest in belt-scale Mt Venn Project
  • Located in the prolific Laverton Gold District, 35km from the producing Gruyere Gold Mine and less than 20km from Gold Road’s Golden Highway Deposit
  • Project covers 420km² and features a favourable litho-structural setting, primarily in greenstone rocks
  • Includes regional shear zone of ~50km strike length and 1-3km width extending full length of greenstone belt
  • Advanced gold targets generated through historical exploration, including broad drill-defined gold mineralisation
  • Highly complementary to Sarama’s recently acquired, underexplored and prospective Cosmo Project
  • Creates 1,000km² exploration position in the Laverton Gold District, capturing 100km of strike length
  • Land access agreement with Traditional Owners in place for exploration
  • 100% scrip consideration with initial exploration funded by the November 2024 equity raise of A$2M

Sarama’s President, Executive Chairman, Andrew Dinning commented:

“We are very pleased to have reached agreement to acquire the Mt Venn Project and when completed, this acquisition will significantly consolidate our position in the prolific Laverton Gold District of Western Australia. The addition of this project creates a major 1,000km2 area-play which significantly enhances the probability of making the next big discovery in a region that continues to deliver new deposits in previously unexplored areas, including the regionally- significant Gruyere Deposit just 35km east of the Mt Venn Project. We look forward to working towards completing the transaction and will provide updates in due course.”

Mt Venn Project

The Project is comprised of 3 contiguous exploration tenements covering approximately 420km² in the Eastern Goldfields of Western Australia, approximately 110km north-east of Laverton and 35km west of the regionally- significant Gruyere Gold Mine(3). The Project is readily accessible via the Great Central Road which services the regional area east of Laverton.

The Project captures the majority of the underexplored Jutson Rocks Greenstone Belt over a strike length of ~50km. Rocks within the belt feature a diverse sequence of volcanic lithologies of varying composition, together with pyroclastics and metasediments. Several internal intrusive units have been identified throughout the Project and are commonly associated with local structural features. A regionally extensive shear zone, spanning 1-3km in width, extends the entire length of the belt with subordinate splays interpreted in the southern area of the Project which provides a favourable structural setting for mineralisation.

Gold mineralisation was first discovered in the 1920’s with sampling returning very high grades and prompting the commencement of small-scale mining operations in the mid 1920’s. Multiple gold occurrences have since been identified throughout the Project, demonstrating the prospectivity of the system. Despite the identification of several km-scale gold-in-soil anomalies by soil geochemistry and auger drilling, many of these targets are yet to be properly tested. Encouragingly, drilling by Cazaly Resources Limited (“Cazaly”) (ASX: CAZ) at the Project intersected broad, gold mineralisation over several fences in weathered and fresh rock at the Three Bears Prospect, presenting a priority target for exploration (Cazaly news release 27 February 2017: “Widespread Gold & Zinc Mineralisation Defined”).

In addition to the attractiveness of the Project for gold, it is considered prospective for base metals and platinum group elements. Historical exploration work including auger geochemistry and geophysical surveys identified several targets for copper, nickel and zinc mineralisation. Several of these targets remain untested due to historical funding and land access constraints. Exploration in the belt to the immediate south of the Project area is noted to have intersected copper mineralisation of significant grade over a significant strike length(4).

In summary, the Project is located within a prolific gold district and has a favourable lithological and structural setting. A solid database of base-level historical exploration work by previous operators, including generation of drill-ready targets, provides a good platform for Sarama to advance the Project in conjunction with its activities at the Cosmo Project. The size and prospectivity of the landholding that Sarama will have in the Laverton Gold District upon completion of this transaction significantly enhances the chances of making an economic discovery, particularly given the infrastructure and proliferation of mines in the region which will have a favourable impact on the size threshold for finding something of economic value.

Click here for the full ASX Release

This post appeared first on investingnews.com

Heritage Mining

Overview

Mining in Ontario is big business. In 2021, Ontario’s mining industry produced roughly C$11.1 billion worth of minerals, accounting for 20 percent of Canada’s total production value. The importance of the mining industry has helped create a mining-friendly jurisdiction that understands the value of capitalizing on its natural resources. That’s why the Fraser Institute has ranked Ontario among the top 15 jurisdictions worldwide for investment attractiveness.

Additionally, the Canadian government is making a significant push to ramp up the production of critical minerals, including copper, lithium and aluminum. This push has resulted in more than 31 critical mineral projects in advanced exploration stages in Ontario,e paving the way for the development of a domestic supply chain for the country.

Heritage Mining (CSE:HML) is an exploration and development mining company with district-scale assets targeting gold and copper mineralizations within Ontario. The company’s flagship Drayton-Black Lake project is a strategically assembled district-scale project with encouraging bulk samples, high-grade gold intercepts and robust existing infrastructure. An experienced management team leads Heritage Mining with more than 100 years of combined experience working within the natural resources sector.

The Drayton-Black Lake project is a district-scale asset with a rich history, but a single company has never operated the entire area. Instead, it was split up among different operators and has never received systematic exploration to determine its mineralizations’ actual width and depth.

As a result, Heritage Mining is launching the first systematic exploration program that will identify promising deposits throughout the entire area of this historic region from a low-grade, high-tonnage perspective.

The company entered a definitive asset purchase agreement with Bounty Gold Corp. to acquire 50 mining claims in the Split Lake zone adjacent to Heritage’s flagship Drayton-Black Lake project. Heritage will acquire a 100 percent interest in the Split Lake property in exchange for issuing Bounty 100,000 common shares.

“Relative to other projects in the area, we are very close to infrastructure. There is a paved highway through the property, all-weather logging roads, and well-maintained ATV roads. So it’s quite a bit different than other projects in Northern Ontario: there are no ice roads and we don’t have to fly in to do work,” CEO Peter Schloo stated in an interview.

The company also operates the Contact Bay project containing high-grade copper-nickel mineralizations. The 4,700-hectare land package is within an active mining area and has known gold, nickel and platinum-palladium mineralizations. While the Drayton-Black Lake project is the main focus, Contact Bay will expose the company to critical minerals.

Heritage Mining’s management team has a proven track record in the mining industry and has overseen transactions exceeding C$15 billion. In addition, the team has experience in corporate finance, administration and geology.

Company Highlights

  • Heritage Mining is an exploration and development mining company with district-scale opportunities in Ontario, Canada, targeting gold and copper.
  • The company’s flagship project, the Drayton-Black Lake project, has strong historical results but has never been systematically explored from a low-grade, high-tonnage perspective. Heritage is the first company to own the entire area and will conduct a thorough exploration program to identify promising mineralizations.
  • Drayton-Black Lake project has existing infrastructure that provides year-round highway access to the property, a significant advantage over other regional projects.
  • Samples from the company’s 2022 field program showed multiple high-grade gold vein system channels.
  • Heritage Mining’s Contact Bay project contains high-grade copper-gold mineralizations and exposes the company to the critical minerals market that is rapidly growing within Ontario.
  • A veteran management team leads the company with a combined 100 years of experience in the mining sector.

Key Projects

Drayton-Black Lake Project

The 14,229-hectare project has undergone significant historical exploration, including more than 176 holes drilled, with high-grade gold and copper discoveries. The project is located in a mature mining district in Ontario, a jurisdiction known for its low geopolitical risk and mining-friendly government.

Project Highlights:

  • Priority Zones Identified: Heritage Mining has identified four priority gold zones with multiple historic high-grade intersections that will guide future exploration programs. These zones are:
    • Moretti Zone – Samples up to 1,212 g/t gold
    • Split Lake Zone – 0.7 meters at 14.8 g/t gold
    • Shaft Zone – 2 meters at 14.5 g/t gold
    • West Zone – Up to 150.86 g/t gold
  • Over 100 Years of Historical Data: Exploration data from the past century is being compiled to create a greater understanding of the area that will rapidly advance the project by guiding future exploration decisions.

The Alcona Area has been approved for Phase II Drill Program to define its deposit potential.

Contact Bay Copper-Gold Project

The project covers 4,700 hectares and contains multiple high-grade copper-nickel and gold occurrences. Contact Bay is also located in Ontario andt is in the exploration phase, with targets identified for exploratory drilling.

Project Highlights:

  • Promising Mineralization Styles: The asset contains a diverse range of mineralizations, including:
    • Northeast – Rock sample assayed 0.40 g/t gold and 0.7 percent copper, sheared and altered gabbro
    • Northeast – A 1.2-meter chip channel assayed 4.2 g/t Au
    • Platinum and Palladium values up to 0.28g/t
  • Priority Targets Identified: Heritage Minerals has three priority drill targets, each with high-grade historic drill intersections that warrant additional follow-up.
  • Impressive Geophysical Interpretation: Exciting highlights from exploration work include the interpretation defining two substantial mafic-ultramafic intrusive bodies with multiple nickel-copper-PGE (platinum group elements) target areas:
    • Nabish Lake Area: ~ 5 kilometers long, up to 1 kilometer wide, over 1 kilometer in depth)
    • North Nabish Lake Area: ~ 2 kilometers long, 1 kilometer wide, over 1 kilometer in depth

Geophysical interpretation of the Contact Bay area along with findings from the 2023 prospecting program, suggest geological similarities to other Archean nickell-copper-PGE occurrences and deposits.

Management Team

Peter Schloo – President, CEO and Director

Peter Schloo holds the CPA, CA and CFA designations with over eight years of progressive experience in capital markets, operations and assurance. He has held senior executive and director positions in a number of private companies, a majority in the precious metals sector including CFO of Spirit Banner Capital and VP of corporate development and interim CFO for Ion Energy. Schloo is also currently a director of Pacific Empire Minerals. (PEMC). His past successes include over C$80 million in associated capital raising opportunities involving public and private companies.

Patrick Mohan – Chairman and Director

Patrick Mohan is a 35-year investor relations veteran and is the founder, president and chief executive officer of Mohan Group. Mohan is also on the board of Metals Creek Resources Corp. Previously, he occupied the position of president, CEO, director and head of investor relations at Kitrinor Metals. Mohan’s past successes include the development of the Cote Gold Project and the sale of Trelawney Mining & Exploration to IAMGOLD for C$585 million (US$595 million) in cash In 2012.

Wray Carvelas – Director and Chair of Compensation Committee

Wray Carvelas has provided 25 years of visionary leadership, developing and implementing ambitious strategic plans. As a senior executive at DRA Global he was responsible for the growth and development of the business in both North and South America. The mandate was to grow business in the Americas, both organically and inorganically without any significant capital base. Carvelas also held positions at KBR, ELB, and De Beers, involving management of development, production, and metallurgical (R&D and capital management) responsibilities.

Thomas Reid – Director

Thomas Reid has a 30 year career with Sun Life Financial as CFO Canada and head of corporate development. Since joining Sun Life Financial in 1994, Reid has held increasingly senior positions throughout Sun Life in finance, corporate development, public relations and investor relations. From 2009 to 2020, Reid led the group retirement services business at Sun Life, growing the assets under management from $30 billion to $130 billion. For the last four years, Reid was responsible for the strategy and growth team for Sun Life in Canada, where his team led strategic planning for the Canadian businesses and explored how Sun Life could invest in new businesses to accelerate the company’s growth in Canada. Reid also holds the CPA and CA designations.

Rachel Chae – CFO

Rachel Chae, with over eight years of experience, has served as CFO for various publicly traded companies, including several Canadian junior mineral exploration companies. She holds the chartered professional accountant designation working at Cross Davis & Company LLP, a chartered professional accountant firm providing accounting services to publicly listed entities, primarily in the mining sector.

Patrick Sullivan – Corporate Secretary

Patrick Sullivan is a mining, M&A and securities lawyer at a national law firm with a decade of experience in the junior mineral exploration sector. He has acted on several significant global mining transactions including South32 Limited’s $2.1 billion acquisition of Arizona Mining, Washington Companies’ $1.2 billion acquisition of Dominion Diamond, and Hudbay Minerals’ $555 million acquisition of Augusta Resource Corporation. Sullivan also has significant experience advising on mineral stream and royalty finance transactions.

Rick Horne – Geologist

Rick Horne has over 40 years of experience as an economic geologist. His experience includes senior roles with Acadian Mining (Atlantic Gold) as chief geologist and with Dufferin Gold Mine (Resource Capital Gold) as chief geologist and mine manager. Horne is an expert in lode gold systems, structural geology and geological mapping spending 22 years with NS Energy and Mines focussing on Bedrock mapping.

Mitchel Lavery, – Advisor

Mitchel Lavery has over 45 years’ experience in the exploration and development of mining projects with several junior and major mining companies. Lavery was instrumental in the discovery of the Bell Creek Gold Mine in Timmins, ON; the development and operation of the Joubie Gold Mine, Val-d’Or, QC; and the acquisition and development of the Quebec Lithium property, Lacorne, QC. He is the president and a director of Seahawk Gold. and is a qualified person under NI-43-101 regulations.

This post appeared first on investingnews.com

Stock Futures Lower after S&P 500 futures ticked down 0.18%

Stock futures are trading slightly lower Monday morning as investors gear up for the final month of 2024. S&P 500 futures slipped 0.18%, alongside declines in Dow Jones Industrial Average futures and Nasdaq 100 futures, which dropped 0.13% and 0.17%, respectively. The market’s focus is shifting to upcoming economic data, particularly reports on manufacturing and construction spending, ahead of this week’s key labor data releases.

November was a standout month for equities, with the S&P 500 futures rallying to reflect the index’s best monthly performance of the year. Both the S&P 500 and Dow Jones Industrial Average achieved all-time highs during Friday’s shortened trading session, with the Dow briefly surpassing 45,000. Small-cap stocks also saw robust gains, with the Russell 2000 index surging over 10% in November, buoyed by optimism around potential tax cuts.

As trading kicks off in December, investors are keeping a close eye on geopolitical developments in Europe, where France’s CAC 40 index dropped 0.77% amid political concerns, while Germany’s DAX and the U.K.’s FTSE 100 showed smaller declines.

S&P 500 futures will likely continue to act as a key barometer for market sentiment, particularly as traders assess the impact of upcoming economic data and global market developments.

S&P 500 Index Chart Analysis

This 15-minute chart of the S&P 500 Index shows a recent trend where the index attempted to break above the resistance level near 6,044.17 but retraced slightly to close at 6,032.39, reflecting a minor decline of 0.03% in the session. The candlestick pattern indicates some indecisiveness after a steady upward momentum seen earlier in the day.

On the RSI (Relative Strength Index) indicator, the value sits at 62.07, having declined from the overbought zone above 70 earlier. This suggests that the bullish momentum might be cooling off, and traders could anticipate a short-term consolidation or slight pullback. However, with RSI above 50, the overall trend remains positive, favoring buyers.

The index’s recent low of 5,944.36 marks a key support level, while the high at 6,044.17 could act as resistance. If the price sustains above the 6,020 level and RSI stabilizes without breaking below 50, the index could attempt another rally. Conversely, a drop below 6,020 could indicate a bearish shift.

In conclusion, the index displays potential for continued gains, but traders should watch RSI levels and price action near the support and resistance zones for confirmation.

The post Stock Futures Lower after S&P 500 futures ticked down 0.18% appeared first on FinanceBrokerage.

S&P 500 climbed 0.3%, and Nasdaq-100 futures jumped 0.7%

Stock futures climbed on Wednesday, driven by strong performances from Salesforce and Marvell Technology, following upbeat quarterly earnings. Futures tied to the Dow Jones Industrial Average rose by 215 points (0.5%), while S&P 500 futures gained 0.3%, and Nasdaq-100 futures advanced by 0.7%.

Salesforce surged 12% after reporting fiscal third-quarter revenue that exceeded expectations, showcasing robust demand in the enterprise software sector. Meanwhile, chipmaker Marvell jumped 14% after surpassing earnings estimates and providing optimistic fourth-quarter guidance, indicating resilience in the semiconductor industry.

This movement follows a mixed session on Wall Street, where the S&P 500 and Nasdaq closed with small gains, while the Dow dipped slightly. The broader market has experienced a modest start to December, contrasting with November’s robust rally, but analysts anticipate a resurgence in momentum. LPL Financial’s George Smith pointed out that December historically sees strong market performance, particularly in the latter half of the month.

However, economic data introduced some caution. ADP’s report revealed that private payrolls grew by just 146,000 in November, missing estimates of 163,000. This signals potential softness in the labor market, with investors now awaiting Friday’s November jobs report for further clarity.

S&P 500 Index Chart Analysis

Based on the provided stock chart, which appears to be a 15-minute candlestick chart for the S&P 500 Index, here’s a brief analysis:

The chart shows a clear upward trend, with higher highs and higher lows indicating bullish momentum over the analyzed period. The index has steadily climbed from a low of approximately 5,855 to a recent high of 6,053.58, suggesting strong buying interest.

Key resistance is observed near 6,050-6,053 levels, as the price has struggled to break above this zone in the most recent sessions. If the index breaches this level with strong volume, it could lead to further upward movement. Conversely, failure to break out may lead to a pullback, with potential support around the 6,000 psychological level and 5,980, where consolidation occurred previously.

The candlestick patterns show relatively small wicks, indicating limited volatility, which could imply steady market confidence. However, the bullish rally could be overextended, warranting caution for traders, especially if any negative catalysts emerge.

In summary, the short-term trend is bullish, but traders should monitor resistance levels and volume for signs of a breakout or reversal. It’s also essential to watch broader market factors, as indices are often influenced by macroeconomic data and sentiment.

The post S&P 500 climbed 0.3%, and Nasdaq-100 futures jumped 0.7% appeared first on FinanceBrokerage.

Chuck E. Cheese makes a comeback, with trampolines and a subscription program

Four years after exiting bankruptcy, Chuck E. Cheese is making a comeback, thanks to a dramatic makeover to introduce its games and pizza to a new generation.

In June 2020, just as some states began lifting their pandemic lockdowns, Chuck E. Cheese’s parent company CEC Entertainment filed for Chapter 11 bankruptcy protection. It emerged from bankruptcy months later with new leadership and freed from about $705 million in debt.

Even when Covid subsided, the company faced another existential threat: figuring out how to entertain children — and their paying parents — in the age of iPads and smartphones. The company has spent more than $300 million in recent years tackling that challenge — and the investment has started to pay off.

CEC Entertainment, which also includes Pasqually’s Pizza & Wings and Peter Piper Pizza, has seen eight straight months of same-store sales growth and is no longer in debt, according to CEO Dave McKillips. The company isn’t publicly traded, but it discloses its financial results to its bond investors.

CEC Entertainment’s annual revenue grew from $912 million in 2019 to roughly $1.2 billion in 2023, according to Reuters. And that’s with fewer open Chuck E. Cheese locations. The chain has 470 U.S. locations currently, down from 537 in 2019.

Sustaining the growth won’t be easy. Like all restaurants, the chain has to win over consumers who are eating out less often as costs rise. Chuck E. Cheese also has to draw the attention of children and parents in a fragmented media market.

Since Atari founder Nolan Bushnell opened its first location in 1977 in San Jose, Chuck E. Cheese has grown to become a staple of many childhoods, known for its pizza, birthday parties and animatronic mouse mascot and band.

After exiting bankruptcy, Chuck E. Cheese and its stores underwent a makeover, giving today’s locations a very different look. Gone are the animatronics, SkyTube tunnels and physical tickets of yore. Instead, trampolines, a mobile app and floor-to-ceiling JumboTrons have replaced them.

Those changes came from McKillips, a former Six Flags executive. He joined the company in January 2020, just months before lockdowns would temporarily shutter all of its locations. By April 2021, the company raised $650 million in bonds, which it’s been spending on its restaurants.

“The company was capital-starved for many, many years. It had not been remodeled. It had not been touched,” he said.

Apollo Global Management took Chuck E. Cheese private in 2014. Five years later, CEC Entertainment tried to go public through a merger with a special purpose acquisition company. But the deal was scrapped without explanation.

The new cash prompted a frank look at the Chuck E. Cheese model — including its iconic animatronic band, featuring Charles Entertainment Cheese and his friends.

“We pulled out the animatronics. It was a hot debate for many legacy bands, but kids were consuming entertainment in such a different way, you know, growing up with screens and ever-changing bite-sized entertainment,” McKillips said.

The chain also redid its menu, upgrading to scratch-made pizzas. Kidz Bop became an official music partner. Other kid-friendly brands, like Paw Patrol, Marvel and Nickelodeon, became partners for its games.

And then came the trampolines.

“We found one glaring opportunity for us … active play,” McKillips said. He added that growth in the family entertainment category is largely coming from activity-based businesses, like trampoline parks and rock-climbing walls.

The company first tested the trampolines in Brooklyn and then in Miami, St. Louis and Orlando. As of December, 450 Chuck E. Cheese locations now have kid-sized trampolines. And unlike the SkyTubes or ball pits of the past, customers have to pay extra to use trampolines. (The ball pits disappeared from Chuck E. Cheese locations in 2011, while SkyTubes lasted roughly another decade.)

After the company spent $230 million to remodel Chuck E. Cheese locations, McKillips now says that process is finished.

“We needed to fix the product. The product is fixed,” he said.

Reintroducing customers to the brand — especially adults who only know the Chuck E. Cheese of their own childhoods — has been another focus.

“You come in around three years old, you leave around eight or nine and you don’t come back for 15 years. We had to go and speak to a whole new generation of kids, and we were off-air during Covid. We had to build all that,” McKillips said.

For example, Chuck E. Cheese’s birthday business, one of the company’s best marketing tools, struggled in the wake of the pandemic. Today, it’s back at pre-pandemic levels.

And as Chuck E. Cheese started seeing the pullback in consumer spending that hit many restaurants last year, from McDonald’s to Outback Steakhouse, the chain had to come up with a way to appeal to the value-oriented customer.

Over the summer, Chuck E. Cheese launched a two-month tiered subscription program that offered unlimited visits and discounts on food, drinks and games. The membership encouraged families to visit more often than the typical two or three annual visits. The subscription starts at $7.99 a month, with additional tiers at $11.99 and $29.99 that promise steeper discounts and more games played.

“In 2023, we sold 79,000 passes. This year, we sold close to 400,000 passes during the same time period,” McKillips said, referring to 2024. “This shows that the value consumer will seek and will spend if they’re getting great return on their spend.”

In the fall, the company followed up on the success of the passes with a 12-month membership and has already sold more than 100,000 of them.

McKillips’ biggest dreams for the chain and its mascots lie outside of the four walls of its restaurants.

“There’s another cute mouse down in Orlando that does this pretty well, so I see us in the same way, but we’re just getting started right now,” McKillips said.

In addition to 30 licensing deals for everything from frozen pizzas to apparel, Chuck E. Cheese is also exploring different entertainment partnerships that would make its mouse mascot a starring character, according to McKillips.

And that’s not all. The company has looked into the possibility of a game show. It has a prolific YouTube channel, with videos focused on its characters, not its pizza or games.

Plus, Chuck E. Cheese himself has six albums available on streaming platforms, and his band plays live, choreographed concerts.

“My dream would be to have a feature movie,” McKillips said.

This post appeared first on NBC NEWS

McDonald’s to close three CosMc’s locations — and open two more

McDonald’s will shutter three locations of its drinks-focused spinoff brand, CosMc’s.

To test the concept, the fast-food giant opened its first CosMc’s location more than a year ago in the Chicago suburb of Bolingbrook, followed by six more in Texas. McDonald’s has converted larger namesake restaurants into CosMc’s, in addition to building smaller prototype locations.

The smaller stores work better for the test, the company said Thursday. As a result, McDonald’s will close three of its larger format CosMc’s locations and open two more small Texas restaurants. The company didn’t disclose the locations for either the openings or closures, although CosMc’s website says a store is coming soon to Allen, Texas.

McDonald’s also shared other early learnings from the pilot on Thursday. Savory hash browns are the top-selling food — at any time of day — followed by McPops, the chain’s mini filled doughnuts. Best-selling drinks include the Island Pick Me Up Punch, Churro Cold Brew Frappe and the Sour Energy Burst.

The CosMc’s test will continue for the “foreseeable future,” according to the company.

McDonald’s created CosMc’s as its entry point into the growing “afternoon beverage pick-me-up occasion.”

While CosMc’s menu features some McDonald’s classics, it also offers a host of new items playing off other beverage and snacking trends, like its iced turmeric spiced lattes, tropical spiceade and pretzel bites. Starbucks, Dutch Bros. and bubble tea chain Kung Fu Tea have found success with younger consumers by offering customizable cold drinks.

The name for the new brand comes from CosMc, a McDonaldland mascot that appeared in advertisements in the late 1980s and early 1990s. CosMc is an alien from outer space who craves McDonald’s food.

While it’s unclear just how much McDonald’s plans to grow CosMc’s, it’s still a miniscule part of the burger giant’s overall U.S. footprint. The company has more than 13,500 U.S. restaurants. Still, McDonald’s is hoping to learn more about its CosMc’s customers; last year, it rolled out a loyalty program specific to CosMc’s.

This post appeared first on NBC NEWS