Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Thanks for the insight!
All banks will have troubles under that scenario. The crisis SIVB and others are currently facing is, as michael mentioned as well, the difference between mark to market value vs held to maturity value (which the IRS rules allow them to use face values, instead of mark to market).
Does this article give you more concern about CUBI, NYCB etc.?
https://www.marketwatch.com/story/20-banks-that-are-sitting-on-huge-potential-securities-lossesas-was-svb-c4bbcafa
CUBI That's a confidence vote in the company.
Customers Bancorp, Inc.: SIDHU JAY S (Director, Chairman & CEO) Buys 45,450 @ Avg Price: $11.00 (Form4)
CUBI is currently 22.85; a new low.
MGLQF is it almost belly up?
************************************************
TORONTO , Nov. 29, 2022 /PRNewswire/ - Magna Gold Corp. (TSXV: MGR) (OTCPINK: MGLQF) ("Magna" or the "Company"), today announced operating and financial results for the three and nine months ended September 30, 2022 and 2021 ("Q3 2022" and "Q3 2021", respectively). All figures are in US Dollars, unless otherwise expressed.
Q3 2022 Operating and Financial Highlights
Total tonnes mined during Q3 2022 were 3.2 million compared to 6.2 million during Q3 2021.
Q3 2022 strip-ratio was 1.5:1 compared to 2.6:1 during Q3 2021.
Tonnes of ore processed during Q3 2022 were 1.1 million compared to 1.8 million during Q3 2021.
Ore mined grade from June 2020 to date averages 0.39 g/t Au, which is 10-15% lower than the grades set forth in the technical report dated August 8, 2020 .
Gold production of 9,256 ounces during Q3 2022 compared to 19,102 ounces during Q3 2021.
Revenues for Q3 2022 were $15.7 million compared to $32.8 million during Q3 2021.
Production costs of $19.8 million during Q3 2022 compared to $20.2 million during Q3 2021. This includes an inventory write-down of $1.7 million during Q3 2022.
Cash Position and Working Capital
Cash at September 30, 2022 , was $0.1 million compared to $1.4 million at June 30, 2022 .
As of September 30, 2022 , working capital was negative $44.4 million compared to negative $35.4 million at June 30, 2022 .
Corporate Update
The Company is undertaking a strategic review to preserve and enhance value for shareholders. The Company at this point will look to reduce operations at the San Francisco Mine . Management intends on reducing all mining operations to lower levels whereby efforts will focus on processing previously mined and stacked material.
The Company believes the reduced operations will lead to drastically reduced costs and the cash flow generated will be used to reduce payables as well as be used to optimize our mine plan ahead of a more economically viable restart. Management will use this time to deploy cash towards value maximizing activities such as mine plan optimization and potential value creating initiatives involving our portfolio of non-core assets.
The financial statements and MD&A for the three and nine months ended September 30, 2022 and 2021, are available on SEDAR (www.sedar.com) and on the Company's website (www.magnagoldcorp.com).
FRD thanks! that statement does sound encouraging. will take a look when i get a chance.
FRD do you know what their hedging situation is for the Q? will they get some hedging gains?
Natural gas prices in the U.S. dropped sharply from a 14-year-high on Tuesday after an important liquefied natural gas plant in Texas that has been closed since June due to a fire said it wouldn't be restarting until November.
"It is anticipated that initial production can commence in early to mid-November, and ramp up to a sustained level of at least 2 BCF [billion cubic feet] per day by the end of November, representing over 85% of the export capacity of the facility," said privately-owned Freeport LNG in a statement.
Less than three weeks ago, on Aug. 3 , Freeport said it was aiming for an initial restart by early October, so the latest restart plan announcement represents a delay of about a month or so.
The front-month natural gas contract for September delivery, which earlier Tuesday climbed above $10 /mmBtu, the highest intraday since 2008, immediately dropped after the Freeport announcement, and was recently 5.2% lower at $9.170 / mmBtu.
Even with Tuesday's price-drop, U.S. natural gas prices remain well over double what they were at the start of the year in a bull market fueled by Europe's gas-driven energy crisis, which is having a knock-on effect in the U.S.
The Freeport plant is one of the U.S.'s largest producers and exporters of LNG, and its closure can reduce the nation's LNG export capacity by some 17%, according to the government's Energy Information Administration . There are only seven LNG export facilities operating in the U.S.
Freeport said in its statement Tuesday that the recovery plan will utilize its second LNG loading dock as a "lay berth until loading capabilities at the second dock are reinstated in March 2023 , at which time we anticipate being capable of operating at 100% of our capacity."
It remains unclear exactly what caused the fire in early June that led to the plant's closure. In a previous statement, the company said that "preliminary observations suggest that the incident resulted from the overpressure and rupture of a segment of an LNG transfer line, leading to the rapid flashing of LNG and the release and ignition of the natural-gas vapor cloud."
JPM & bank stocks
https://www.cnbc.com/2022/05/23/jpmorgan-backtracks-on-key-target-says-it-can-reach-17percent-returns-this-year.html
will other smaller banks follow suit?
WSTG - is there any news?
agreed.
BHC, does the debt level concern you?
Bausch + Lomb, based in Vaughan, Ontario, reported $65 million in net income on $3.8 billion in revenue on a pro forma basis in 2021. In addition to contact lenses and solutions under brands including Ocuvite, PureVision and Biotrue, the company also makes ophthalmic pharmaceuticals for ailments such as glaucoma, as well as surgical tools and devices.
Bausch Health, then known as Valeant Pharmaceuticals International Inc., bought Bausch + Lomb for $8.7 billion in 2013 from an investors group that included Warburg Pincus. In an effort to raise money to pay off tens of billions in debt on its books from that era, Bausch Health is also planning to spin off its Solta Medical skin-care unit. Bausch Health, which is keeping its core pharmaceutical operations, had about $23 billion in total debt as of Dec. 31.
Solta submitted its IPO filing to the SEC in February but hasn’t moved ahead with proposed terms for its share sale. For the nine months ended Sept. 30, Solta had net income of $72.8 million on revenue of $219 million, according to its filing.
SBOW $32.85 -12.5% after ER
The headline loss of $(3.84) was mainly due to hedging loss of $112M; if excluding the hedging they actually earned $2.79 per share.
SilverBow Resources (NYSE:SBOW) reported quarterly losses of $(3.84) per share
SilverBow Resources (SBOW) came out with quarterly earnings of $2.79 per share, beating the Zacks Consensus Estimate of $2.23 per share. This compares to earnings of $2.31 per share a year ago. These figures are adjusted for non-recurring items.
SBH the rebounding is quite impressive; it's even green now.
the growth stalled; the stock is not expensive though.
SBH
07:17 AM EDT, 05/05/2022 (MT Newswires) -- Sally Beauty Holdings (SBH) reported fiscal Q2 adjusted net earnings early Thursday of $0.47 per diluted share, compared with $0.57 a year earlier.
Analysts polled by Capital IQ expected $0.51.
Net sales for the quarter ended March 31 were $911.4 million, down from $926.3 million a year earlier. Analysts surveyed by Capital IQ expected $951.2 million.
The company said it now expects fiscal 2022 net sales to be flat to down 2% year over year, compared with its prior growth forecast of 3% to 4%. Analysts surveyed by Capital IQ expect net sales for the year to come in at $3.98 billion. Sally Beauty cited the impact of inflationary pressures and supply chain challenges as headwinds to its original fiscal 2022 guidance.
Sally Beauty's shares were down 4.1% in premarket trading.
Price: 15.3, Change: -0.65, Percent Change: -4.08
HBP, it was halted for pending news for a while after hours; currently trading around $10.50.
VTRS thanks! it seems a bit overdone to me.
VTRS dew, what's your take on the market reaction? overdone, or kind of justifiable?
TIA
interesting article. LCID seems to kick-off an uptrend on the news.
thanks for sharing.
GTECW
Thanks for the info.
Surely the warrants have spread and vol drawbacks; but it limits the max loss while provides the leverage. And there is plenty of time to catch the upsurges.
GTEC
thanks for the alert. I day-traded a bit.
Have you looked into GTECW? the warrants could be another way to play it; I didn't find its conversion price and ratio though.
EV
R59, LCID was omitted from the list. It bottomed on 09/01 around $16.10. Currently $45.92, a 200%+ gain since then.
T, VZ
Two U.S. telecom companies agreed to delay their planned Dec. 5 rollout of a new 5G frequency band so they can work with the Federal Aviation Administration to address concerns about potential interference with key cockpit safety systems.
AT&T Inc. said it agreed to delay its planned 5G deployment until Jan. 5 at the request of the U.S. Transportation Department , which oversees the Federal Aviation Administration . Verizon Communications Inc. also agreed to postpone its launch of the new 5G wireless spectrum by about a month, people familiar with the matter said.
The FAA had been planning to issue official mandates as soon as this week that would limit pilots' use of certain automated cockpit systems such as those that help planes land in poor weather, according to government and industry officials familiar with the planned orders. Those limits would aim to avoid potential interference from wireless towers on the ground transmitting new 5G signals.
Such limits could result in disruptions to passenger and cargo flights in 46 of the country's largest metropolitan areas where the towers are located, aviation industry officials have said. Telecom industry officials have disputed safety concerns, saying that available evidence doesn't support the conclusion that the proposed 5G signals will interfere with flight equipment. Cellphone carriers in some other countries already use the wireless frequencies in question.
The Federal Communications Commission , which oversees telecom regulations, issued a statement with the FAA later Thursday confirming the voluntary pause.
"Aviation safety and technology leadership are national priorities, and with today's announcement these companies have demonstrated their commitment to both," the federal agencies said, naming both carriers. The agencies said they would continue working closely together to ensure the U.S. keeps pace with the rest of the world regarding the latest communications technologies, without undue delay.
if you were referring to the 09/15 sale, it was pre-scheduled for estate planning purposes, so nothing alarming to me.
Explanation of Responses:
1. Sold pursuant to an SEC rule 10b5-1 sales plan established on February 10, 2021 for estate planning purposes.
I have a small position in IMMR. I bought in $7's so it's in profit now. I'll keep watching for a while and then decide whether to sell or keep.
IMMR
The company has patents for augmented reality, which could make it a winner from the Facebook announcement
CPSS also there's huge volume on Oct. 20th. was that related parties transaction since the price movement was minor?
the earning report should be out anytime. maybe earning leak?
HBP I added a few in the 5.70 rang pre-market as well. The downside risk is limited, even if there is no offer, while the upside reward is much larger.
BMTX my shares at MerrillEdge are tradable today - not sure when they became tradable.
Thanks for the insights! hope that's the reason for the sales slowdown.
Housing Sector:
are you guys concerning about the slowdown in housing as claimed below?
Housing boom is over as new home sales fall to pandemic low
https://www.cnbc.com/2021/07/26/housing-boom-is-over-as-new-home-sales-fall-to-pandemic-low.html?&qsearchterm=housing
EYEG
Eyegate Pharmaceuticals (NASDAQ:EYEG) shares are trading higher Monday afternoon after the company announced it entered a non-binding letter of intent to acquire Bayon Therapeutics for roughly $7.1 million.
Bayon Therapeutics is an ophthalmic specialty pharmaceutical company.
Eyegate also announced the appointment of Brian M. Strem as President and CEO. Strem is a Co-Founder and Managing Director of Bayon Therapeutics.
EyeGate Pharmaceuticals, Inc., a clinical-stage pharmaceutical company, focuses on developing and commercializing products for treating inflammatory and immune diseases with a focus on the eye and nervous system in the United States.
At the time of publication, shares were trading 103.8% higher at $6.36. The stock has a 52-week high of $8.18 and a 52-week low of $3.11.
this makes more sense. the verbiage of the news is a little confusing.
That's a good question. I just copied the news.
But it seems too good to be true to sell the stock for $82 now and get 1 share post-split with value of around $41.
yes. the split will be after hours on 04/07 and the first trading will be on 04/08.
AVNW Each stockholder of record on April 1 will receive one additional common share for each share held, to be distributed on April 7, the company said.
AVNW the split is on this Wed I think.
I saw a similar post on twitter.
is that the energy to "mine" one coin, or complete one transaction?
it seems impractical to cost that much of energy just for one transaction.