Minto Metals has announced three transactions to improve its liquidity: a drawdown and extension under the Sumitomo prepayment facility, an amendment to its share purchase agreement, and a new term loan facility.
The company said in a statement that it has drawn down a further US$1.5 million under its existing prepayment facility with Sumitomo Canada Limited bringing the total funds advanced under the facility to US$12.5 million.
Ford Motor Company (NYSE:F) will report earnings after the market closes on May 2, and investors will be watching for whether the company can outdo expectations of an earnings decline.
The Street expects revenue of $36.03 billion, up 4.4% year-over-year, and earnings of $0.41 per share, compared to a loss of $0.78 per share in the year-ago quarter.
Snap has earned a repeat ‘Perform’ rating from Oppenheimer analysts after reporting first-quarter results that failed to impress investors, sending the stock tumbling by almost 20% on Friday.
Snap’s revenue of $989 million fell short of Wall Street’s expectation of $1.01 billion, while earnings per share of $0.01 narrowly beat forecasts of a loss per share of $0.01.
Ivanhoe Mines announced on Thursday that it has signed off-take and financing agreements with Switzerland-based miner and commodity trading giant Glencore to restart the Kipushi mine in the Democratic Republic of Congo (DRC) next year, which is considered one of the world’s highest grade zinc mines.
Glencore will take all of the mine’s zinc concentrate for five years and fund the operation with a $250 million loan to be repaid by 2028.
Analysts at Oppenheimer have raised their price target for Amazon noting that the ecommerce giant’s improved gross profit more than offset its slightly lower revenue outlook for its cloud business Amazon Web Services (AWS).
The analysts upped their price target to $130 from $125 and awarded the stock an ‘Outperform’ rating.
ImmunoGen Inc shares rocketed higher Friday after the company’s first quarter sales impressed investors.
The Massachusetts-based company posted revenue of $49.9 million, including $29.5 million of net product revenues from sales of its ovarian cancer drug ELAHERE. That compares to $38.1 million in the same period of 2022.
IMAX Corp (NYSE:IMAX) stock jumped after the global entertainment technology platform delivered its highest grossing first-quarter to date as it grew its market share to a record level.
In its 1Q earnings release, the Mississauga, Ontario-based company also said the three-month period to March 31, 2023, was its highest-grossing quarter ever for local language films.
TC Energy Corp stock climbed as it reported first-quarter results that saw revenue top estimates and CEO François Poirier affirm that 'multiple' asset sale negotiations are underway as part of the energy pipeline company’s ongoing $5 billion divestment process.
For the period ended March 31, 2023, the Calgary, Alberta-based company reported a profit of $1.31 billion, up from $358 million in the same quarter in 2022. The profit amounted to $1.29 per diluted share, up from a profit of $0.36 per diluted share for the same period a year earlier.
SkyWest (NASDAQ:SKYW) shares took flight on Friday after the regional airline reported a smaller-than-expected loss for the first quarter.
The St. George, Utah-based airline posted a net loss of $22 million or a loss of $0.45 per share, compared to a profit of $18 million or earnings per share of $0.35 per share in 1Q 2022. Analysts, however, had expected a loss per share of $0.54.
Agnico Eagle Mines Ltd (TSX:AEM) has reported first-quarter results that beat analysts’ estimates on the revenue and earnings lines, sending its shares close to 2% higher by noon on Friday.
The Canadian-based gold producer said the strong operational results came as it delivered its best quarterly safety performance in its over 65-year history, positioning it well to meet its full-year guidance projections.
Cameco shares moved higher after the Saskatoon, Saskatchewan-based uranium fuel provider reported a jump in its first quarter profit and revenue.
Its earnings per share topped expectations of $0.25 per FactSet at $0.27, compared to earnings per share of $0.10 in the year-ago quarter.
Shares of First Republic took another significant hit Friday as the regional bank searches for a rescue deal to stop the bleeding.
The stock is down 25% Friday morning to $4.60 — and 71% from Monday’s closing price of $16 after first-quarter deposit outflows of 40% thoroughly spooked investors.
Sigma Lithium Corp (TSX-V:SGML, NASDAQ:SGML) has announced the loading of the first trucks at its Grota do Cirilo lithium project in Brazil as it prepares for the inaugural shipment in May of green lithium and tailings.
The company said a total of 10 trucks were loaded on schedule this week, starting on Monday, April 24, including four trucks with approximately 146 tonnes of green lithium and six trucks containing green tailings to be upcycled into battery grade lithium concentrate.
Imperial Oil Limited (TSX:IMO) reported a first quarter profit beat on Friday with lower upstream realizations and refining margins offset by higher output and strong refining performance.
The Calgary, Alberta-based petroleum company reported a net profit of $1.25 billion or $2.13 per share, up from $1.17 billion or $1.75 per share in the same quarter in 2022. Analysts had been expecting earnings per share of $1.94, according to Refinitiv.
Uber Technologies is slated to report results before the opening bell on May 2, and the ride-sharing app has a chance to start a strak of expectations beats.
The company missed on earnings each of the first three quarters last year before righting the ship in the fourth. The consensus estimate as things stand are revenue of $8.72 billion and a loss of $0.09 per share.
Starbucks is set to serve up another set of strong results when it hands down its second quarter fiscal 2023 results after the market close on Tuesday, May 2.
The Seattle-based global coffee chain is expected to report double-digit revenue growth year-over-year. Per Zacks Consensus Estimate, revenue is expected to be $8.39 billion, up about 10% from Starbucks' previous 2Q record of $7.6 billion in fiscal 2022.
Sir Ian Livingstone, the co-founder of Games Workshop Group PLC (LSE:GAW), has contradicted comments made by the UK competition watchdog after shutting down Microsoft’s US$69bn takeover of Activision Blizzard, in what would have been the largest merger in video gaming history.
Speaking to the BBC on Friday about the cancelled merger, Livingstone said: "I think the sentiment of the games industry itself in the UK is for it to go ahead,” adding that “It would be odd if the UK was the only region to object to this acquisition going forward”.
Harbor Custom Development Inc shares rocketed after the company revealed that it has entered into a contract to sell the land and site improvements for the future Bridge View Trail apartments in Port Orchard, Washington to a global real estate company for $11 million.
The Tacoma, Washington-based real estate company expects the closing of the property will happen on or before June 30, 2023, upon the buyer’s satisfaction and waiver of their feasibility contingency.
Alimentation Couche-Tard Inc (TSX:ATD.A) has announced a deal to expand its chain of Circle K convenience stores with the acquisition of 112 fuel and convenience retail sites that are being carved out of Franklin, Tennessee-based MAPCO Express.
Couche-Tard said the transaction, which includes surplus property and a logistics fleet, is contingent on a separate transaction under which MAPCO and its remaining locations will be sold to a third party.
Sidus Space Inc (NASDAQ:SIDU) told investors that edge computing company Exo-Space has delivered hardware that it will integrate and test in preparation for the upcoming launch aboard the company’s LizzieSat satellites.
The company explained that Exo-Space’s FeatherEdge Data Processing Platform will be integrated into its hybrid 3D-printed satellite. On-orbit testing of the device in a space environment will provide proof-of-concept data, increase the product’s overall Technology Readiness Level, and establish integration processes for future collaborative missions.
Perk Labs announced its first quarter 2023 financial results, noting its efforts to streamline its operations and pursue strategic growth during the period.
The company’s new CEO Ryan Hardy, who took on the role on March 2, 2023, said the company had made significant progress in these areas and its efforts would be reflected in much more positive results in the next quarter.
Exxon Mobil Corp shares climbed after the company reported first-quarter financial results that handily beat Wall Street analyst estimates as production expanded.
Significantly, both Exxon and Chevron, the two largest US oil companies, managed their businesses well despite sagging oil and natural gas prices to post earnings growth.
Fathom Nickel (CSE:FNI) Inc plans to undergo a best efforts non-brokered private placement financing to raise total gross proceeds of C$2 million.
The offering will include a combination of charity flow-through units priced at $0.19, flow-through units priced at $0.155 and hard dollar units priced at $0.135.
Sony has reported stronger-than-expected profits for fiscal 2022, boosted by record sales of its PlayStation 5 gaming console.
For the financial year ended March, the Tokyo-based company achieved net income of ¥937 billion, above Sony’s guidance of ¥870 billion and the ¥882 billion reported in the year-ago quarter.
Colgate-Palmolive Company (NYSE:CL) has reported a stronger-than-expected first quarter after it pushed through double-digit price increases.
The consumer goods company reported an 8.5% increase in sales to $4.77 billion for the three months to March 31, 2023, beating the $4.59 billion expected by Wall Street.
The former chief financial officer of the African Gold Acquisition Corp SPAC has been sentenced to three years behind bars for embezzling over US$5mln from investors which he used to trade meme stocks and cryptocurrencies.
Cooper Morgenthau was found guilty by US attorney Damian Williams, who accused Morgenthau of fabricating bank statements and public filings with US regulator the Securities and Exchange Commission (SEC).
Huawei released a rather austere first-quarter trading statement on Friday, yet the two paragraphs were enough to show the catastrophic impact US sanctions have had on the Chinese tech firm.
In the first quarter of 2023, Huawei generated 132.1 billion yuan (£15.3bn) in revenues at a 2.3% margin, meaning revenues were less than one percent higher year on year.
Delta 9 Cannabis Inc (TSX:DN) said it has secured a purchase order from a US-based customer for up to eight of its modular Grow Pods.
The customer, who has not been named, has also entered into a strategic cooperation agreement with Delta 9 to provide services relating to the development of its cannabis production facility in Alabama.
Silver Bullet Mines Corp. (TSX-V:SBMI, OTC:SBMCF) (SBMI) said it has received its first order for silver products from a third party, bringing in approximately US$400,000 in revenue per month.
The purchaser has ordered 500 kg (17,600 ounces) of silver and intends to order the same amount each month in the future. The order was announced in detail on April 17, 2023, and the purchaser provided a US$225,000 cash advance to SBMI to fund the cost of processing the mineralized material from the Buckeye Mine without dilution to shareholders.
Chevron Corporation (NYSE:CVX) has delivered first-quarter results that beat Wall Street forecasts despite oil prices retreating from their 2022 highs.
The oil major reported a 6.7% dip in sales and other operating revenues to $48.8 billion for the three months to March 31, 2023, due to lower commodity prices.
Thor Energy PLC (AIM:THR, OTCQB:THORF, ASX:THR) has said it will focus on its uranium and vanadium projects in the United States, while continuing its gold and copper projects in Australia.
In the Australian mining company's March quarterly activities 2023 report, Nicole Galloway Warland, Thor Energy's managing director said: "Our philosophy will be to focus on the 'green energy' economy with our uranium and vanadium projects in both Utah and Colorado in the United States of America."
Bitcoin (BTC) volumes surged to a five-week high in the past 24 hours, supporting a strong Thursday trading session that saw the BTC/USDT pair close 3.7% higher at US$29,470.
Friday morning’s Asia trading session has been fairly choppy, but has so far managed to sustain the US$29,400 mark, sparking hopes of a break above the critical 30k resistance point, where profit takers have positioned large quantities of sell orders.
MGC Pharmaceuticals Ltd (LSE:MXC, OTC:MGCLF, ASX:MXC) said on Friday that the three months to March 2023 had proved to be "significant", as sales climbed and a host of landmarks were reached.
Clinical trials of MGC’s CimetrA drug continue to demonstrate anti-inflammatory effects, the company updated, with the results set to be used in a US new drug submission.
Atlantic Lithium Limited's (AIM:ALL, OTCQX:ALLIF, ASX:A11) executive chair highlighted a first quarter in which the company built on what he described as impressive progress made in 2022.
The AIM-quoted lithium firm is now on track to meet its targets through the rest of 2023, Neil Herbert noted.
Bens Creek Group PLC (AIM:BEN, OTC:BENCF) said it has completed the delivery of circa 44,000 tonnes of coal for the largest steel producer in India.
It is the first time that the company has taken the lead in alone filling a ship, which is berthed at Virginia’s Norfolk International Terminals.
Argo Blockchain PLC (LSE:ARB, OTCQX:ARBKF, NASDAQ:ARBK, ETR:0XP) mined 2,156 bitcoin or bitcoin equivalent (BTC) during the 2022 financial year, a 5% increase compared to 2021, per the London-listed company’s Friday earnings call.
Mining operations generated £47.4mln (US$58.6mln) in revenue, a decrease of 36% from 2021 due to the bitcoin bear market, an increase in global hashrate and network difficulty level, and surging energy costs.
European Lithium Ltd (ASX:EUR, OTCQB:EULIF) is poised to move a step further down the path to integrated European lithium production with the impending execution of a binding joint venture (JV) agreement to build and operate a hydroxide plant in Saudi Arabia, expected before May 31, 2023.
Obeikan Investments Group, the other party involved in the JV agreement, signed a non-binding memorandum of understanding (MoU) in January this year, completing due diligence at the time with a global strategic management consulting firm.
Electric Royalties Ltd has announced the closing of the previously announced acquisition of a 0.5% gross revenue royalty (GRR) on certain mining claims, mining leases and mineral tenures comprising the wholly-owned Kenbridge Nickel Project in northwest Ontario, Canada with Tartisan Nickel Corp in exchange for C$500,000 cash and 2,500,000 common shares of the company.
World Copper Ltd said it has closed its previously announced financing, issuing an aggregate total of 11,306,667 units for gross proceeds of $2,035,200.06. The company closed the second and final tranche of the financing on April 27, 2023, issuing 3,332,323 units for gross proceeds of $599,817.94. There was no insider participation in the final tranche closing. Net proceeds from the offering are intended for general working capital and development costs.
Jushi Holdings Inc has said it expects to report its financial results for the first quarter ended March 31, 2023, before the market opens on Friday, May 12, 2023. Management will host a conference call and audio webcast on Friday, May 12, 2023, at 8.00am ET to discuss the results. Live Call dial-in: 1-800-715-9871 (US & Canada Toll-Free) Conference ID: 9716005; Webcast registration: https://edge.media-server.com/mmc/p/scmki932. For interested individuals unable to join the conference call, a webcast of the call will be available for one year following the call and can be accessed via webcast on Jushi’s Investor Relations website: Financials and Filings.
Ocean Power Technologies Inc has announced that Matt Burdyny, its vice president, Global Sales & Marketing, will be participating in the Water Tower Research Fireside Chat Series on April 28, 2023, at 11.00 am ET. The event is open access for all investors to participate and interested parties can register for the event at the following link: Welcome! You are invited to join a webinar: Fireside Chat: Ocean Power Technologies, Inc. (AMEX:OPTT) Vice President, Global Sales & Marketing, Matt Burdyny. After registering, you will receive a confirmation email about joining the webinar.. Replays of the webcast will also be available after the event.
Valeo Pharma Inc has announced the results of the proposals submitted to shareholders at its annual meeting of shareholders held on April 27, 2023, which saw all the directors proposed overwhelmingly appointed, as well as the reappointment of PricewaterhouseCoopers LLP as its auditor. Stuart W. Fowler was appointed as a new director of Valeo Pharma, while Vincent P. Hogue and Frederic Fasano both departed as directors of the company. "I am pleased to welcome Stuart to our Board of Directors. Stuart is a well known senior executive in the Canadian pharmaceutical industry having been President and General Manager of Alcon Canada and President and General Manager of Allergan Canada. We look forward to his strategic insight and guidance in both the field of ophthalmology and the broader pharmaceutical industry ", said Steve Saviuk, Valeo's chief executive officer. "We would also like to extend our most sincere thanks to our outgoing Board members, Vincent Hogue and Frederic Fasano for their contributions and invaluable service over the years. We appreciate the time, knowledge and expertise they both have provided the Company and wish them the very best.”
MAS Gold Corp CEO Jim Engdahl is resigning as CEO and director for personal reasons, effective May 1, the company announced. He will stay on as an advisor to the company for a period of 18 months. Ron Netolitzky has been appointed as Interim CEO. MAS has also approved the issuance of 2.5 million stock options to a director. The options are exercisable at $0.05 and expire on November 1, 2024. Elsewhere, the company said the technical report on the Preview Southwest Gold Deposit, which was due to be filed on sedar within the 45-day required time frame, has been delayed.