Month: February 2024

(In United States dollars, except where noted otherwise) TORONTO, Feb. 22, 2024 (GLOBE NEWSWIRE) — First Quantum Minerals Ltd. (“First Quantum” or the “Company”) (TSX: FM) announces that it has successfully completed the pricing of its offering (the “Offering”) of $1,600 million aggregate principal amount of 9.375% senior secured second lien due 2029 (the “Notes”). The issue price of the Notes is 100.000%. Interest on the Notes will accrue from the issue date at a rate of 9.375% per annum and will be payable semiannually. Settlement is expected to take place on or about February 29, 2024, subject to customary conditions precedent for similar transactions. The Notes will be senior obligations of the Company and will rank equally in right of payment with all of the Company’s existing and future senior debt and senior in right of...

CALGARY, Alberta, Feb. 22, 2024 (GLOBE NEWSWIRE) — Journey Energy Inc. (JOY – TSX) (“Journey” or the “Company”) is pleased to report its year-end 2023 oil and gas reserves evaluation. 2023 Reserve Report Highlights:Proved developed producing reserves decreased 7% to 36.9 MMboe, with a corresponding decrease of 25% in NPV@10% to $361.9 million ($368.4 million including the Countess Power Project (“CPP”)). The PDP reserve life index increased to 8.4 years from 8.3 years. Proved reserves decreased 2% to 50.0 MMboe, with a corresponding decrease of 17% in NPV@10% to $504.1 million ($581.5 million including the CPP, Gilby Power Project “GPP”) and Mazeppa power project (“MPP”). Proved plus Probable Developed Producing reserves decreased 5% to 48.6 MMboe, with a corresponding decrease of 22% in NPV@10% to $450.5 million ($457.0 million...

CALGARY, Alberta, Feb. 22, 2024 (GLOBE NEWSWIRE) — Wilmington Capital Management Inc. (“Wilmington” or the “Corporation”) is pleased to announce the concurrent execution and completion of its previously announced disposition of its approximate 17.3% equity interest in Maple Leaf Marinas Limited Partnership (“MLM LP”) and its corresponding approximate 18.7% equity interest in MLM LP’s general partner, Maple Leaf Marinas Holdings GP Inc. (“MLM GP”). After due consideration, the Board of Directors of the Corporation, with Directors that are interested parties having declared their conflict and abstained from voting, determined the embedded value of the Corporation’s investment in MLM GP and MLM LP had been substantially realized and thus sought to sell the Corporation’s entire interest in the two entities. Pursuant to the right of...

Array Technologies and Aluminum Products Company (ALUPCO®) have formed a strategic partnership, combining Array’s industry-leading products with ALUPCO®’s leading production capabilities to expand the growth of renewable energy projects in the Middle EastArray Technologies and ALUPCO® Announce Strategic Partnership to Fuel Growing Renewable Energy MarketKhaled Abdel-Moneim, Chief Executive Officer, Alupco, and Aaron Gabelnick, Chief Technical Officer, Array Technologies, sign an agreement during the Public Investment Fund and the Private Sector Forum.Array Technologies and ALUPCO® Announce Strategic Partnership to Fuel Growing Renewable Energy MarketSteven Fox, Senior Director, Business Development, Array; Abdulaziz Alghamdi, General Manager, Alupco; Khaled Abdel-Moneim, Chief Executive Officer, Alupco; Abdulaziz Alghamdi,...

Production in 2024 is expected to be 120,000 to 140,000 ounces gold equivalent (“AuEq”). The second half of the year is expected to be the strongest, as operations progressively ramp up ahead of the new 1.2 million tonnes per annum (“mtpa”) Stage 3 Process Plant commissioning, scheduled for the end of Q1 2025. Cash costs between $820-$880 per ounce gold and all-in sustaining costs (“AISC”) of $1,440-$1,540 per ounce gold forecasted for 2024. The moderate increase from 2023 guidance for cash costs and AISC is driven by increased accelerated operating and capital development for the Stage 3 and 4 Expansions in addition to development and equipment that was planned for 2023 being completed/delivered in 2024. As outlined in the Integrated Development Plan(1) (“IDP”), we expect a very significant reduction in cash costs and AISC in 2025 and...