tsxstocks
Nevada Copper (TSX:NCU,OTC Pink:NEVDQ) filed for Chapter 11 bankruptcy protection under the US Bankruptcy Code on Monday (June 10) following an inability to secure funding or a change-of-control deal. The move comes less than a month after copper prices reached a new all-time high. The company also announced the appointment of Tom Albanese, former CEO of Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO), as the new chair of its board of directors following the resignation of Randy Buffington as president and CEO. Nevada Copper has faced issues at its Pumpkin Hollow asset in Nevada since 2022. In May of tha...
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Senior gold miner B2Gold (TSX:BTO,NYSEAMERICAN:BTG) and Sandbox Royalties announced on June 6 that they have entered into a purchase and sale agreement to create Versamet Royalties. As part of the transaction, B2Gold will sell 10 precious and base metals royalties to Sandbox, which will be renamed Versamet Royalties. Versamet will acquire ownership of the royalties by issuing 153.2 million common shares to B2Gold at a price of C$0.80 per share, giving B2Gold a 33 percent equity stake in Versamet. The royalties include 2.7 percent net smelter return (NSR) royalties on West African Resources' (A...
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Fortune Minerals (TSX:FT,OTCQB:FTMDF) will be working to secure strategic partners to invest in the NICO project following recent funding from the US and Canadian governments totaling C16.2 million to advance the cobalt-gold-bismuth-copper project to production, CEO and President Robin Goad told the Investing News Network. “So the financing plan for our asset, after we complete all the engineering and permitting work that's being covered by the US and Canadian governments, is to seek the project financing, which would probably be a combination of debt, but also equity. And the equity would be ...
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In a bid to enhance the North American critical minerals supply chain, the Canadian and US governments announced a co-investment in two Canadian companies under the Canada-US Energy Transformation Task Force. “Canada is positioning itself as a global leader in the supply of responsibly sourced critical minerals for the green and digital economy,” said Jonathan Wilkinson, Canada's minister of energy and natural resources. “Through our work with the United States and other allies, we are developing secure critical minerals value chains that will power a prosperous and sustainable future," he add...
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Crescent Energy (TSX:CPG,NYSE:CPG) is set to acquire SilverBow Resources (NYSE:SBOW) in a deal valued at US$2.1 billion, positioning Crescent as the second largest operator in the Eagle Ford shale. Under a definitive agreement announced on Thursday (May 16), SilverBow shareholders will receive 3.125 shares of Crescent Class A common stock for each share of SilverBow common stock they own, with an option to receive cash at a value of US$38 per share, subject to a cash consideration cap of US$400 million. John Goff, chairman of the board at Crescent, said the deal will place the business in a mo...
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Major fertilizer producer Nutrien (TSX:NTR,NYSE:NTR) shared its first quarter results on May 8, reporting net earnings of US$165 million for the period, down 71 percent year-on-year. Adjusted EBITDA came in at US$1.1 billion, a 26 percent year-on-year decline, while Nutrien recorded adjusted net earnings per share of US$0.46, a fall of 50 percent over the same timeframe. The company said the decreases came on the back of lower net fertilizer selling prices, but pointed to strong demand for crop inputs. It is seeing strong potash demand in North America, as well as Southeast Asia, where lower i...
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The Canadian pharmaceutical market is the eighth largest in the world and accounts for 2.2 percent of the global prescription drug market. But what are the biggest Canadian pharma stocks? Many successful Canadian drug companies are in the late stages of clinical trials, and some have also have brought pharmaceutical products to market or set up partnerships to develop products, both at home and globally. According to data compiled by the Canadian government, the country's pharma companies are involved in research and development to bring new or improved patented therapies to market, and are al...
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Crescent Point Energy (TSX:CPG,NYSE:CPG) has struck a deal with Saturn Oil & Gas (TSX:SOIL,OTCQX:OILSF) to divest certain non-core assets in Saskatchewan as part of its long-term sustainability plan. “This transaction allows us to realize value for these non-core assets which had limited impact in the Company’s future plans while continuing to focus on our priorities of operational execution, optimizing our balance sheet and increasing our return of capital,” said Craig Bryksa, president and CEO of Crescent Point, in a company press release. The strategic move involves the sale of assets, incl...
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The first quarter of 2024 began with copper prices remaining steadfast, staying within the US$8,000 to US$8,500 per metric ton (MT) range. However, the end of the quarter saw the red metal gain momentum on the LME and surge to a quarterly high of US$8,973 on March 18 before moving to set a two-year high on the London Metal Exchange of US$9,869 on April 30. The dramatic gains came on the back of tightening concentrate supply to Chinese smelters, who cut supply as competition between upgraders caused treatment charges to fall to their lowest point since 2010. While supply for refined copper was ...
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Endeavour Mining (TSX:EDV,OTCQX:EDVMF) reported its first gold pour at the Sabodala-Massawa BIOX expansion in Senegal just 24 months after construction of the project commenced. “We are proud to have achieved our first gold pour at the Sabodala-Massawa BIOX Expansion with over 3.5 million man hours worked with no lost time injuries,” commented CEO Ian Cockerill in the company’s announcement. “We have commissioned the project and delivered first gold in only 2 years, marking the fourth capital project that we have completed in the last 10 years. All of these have been completed in two years or ...
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