Highlights of this day in history: Alan Shepard becomes the first American in space; France's Napoleon Bonaparte dies; Philosopher Karl Marx born; IRA member Bobby Sands during a prison hunger strike; Carnegie Hall opens in New York. (May 5)
Highlights of this day in history: Alan Shepard becomes the first American in space; France's Napoleon Bonaparte dies; Philosopher Karl Marx born; IRA member Bobby Sands during a prison hunger strike; Carnegie Hall opens in New York. (May 5)
Oregon Bancorp, Inc. (OTCBB: ORBN), parent company of Willamette Valley Bank, announced today that it was again named to the American Banker magazine’s Top 200 Publicly Traded Community Banks and Thrifts based on a three-year average return on equity as of December 31, 2020 (Source: Capital Performance Group). This is the third consecutive year that Oregon Bancorp, Inc. was ranked #1 in the list of top 200 banks.
Nathan Buckley has been under pressure all season, and Collingwood are reportedly close to making a call in the former star's future. Read more here.
Years on, the alleged perpetrator messaged his victim on Facebook saying he would pray for her.
YERINGTON, Nev., May 17, 2021 (GLOBE NEWSWIRE) -- Nevada Copper Corp. (TSX: NCU) (OTC: NEVDF) (“Nevada Copper” or the “Company”) today provided an operations update and announces filing of its Q1 2021 Financial Statements and the related management’s discussion and analysis. Q1 2021 Highlights Operations Mining of First Stope: The Company successfully initiated stope mining in Q1 with the first stoping area carrying an average grade of 2.5% CuEq. Lateral development continued to ramp-up in the quarter at the Company’s underground mine at its Pumpkin Hollow project (the “Underground Mine”). As previously announced, development progress has been temporarily slowed in the past few weeks due to cautious progress through a water bearing dike with completion expected in the coming weeks.Mine Hoisting: Following completion of the Main Shaft material handling system in Q4 2020, the Company achieved a peak daily hoisting rate of over 3,000 tons by February 2021 at the Underground Mine and has achieved a hoisting rate equivalent to 5,000 tons per day (“tpd”) on a shift basis demonstrating that the mine hoisting system is capable of functioning at design specifications. In Q1, the Company completed significant electrical upgrades to provide sufficient power for additional production equipment and ventilation in support of ramp-up at the Underground Mine. As previously reported, certain commissioning items that constrained hoisting rates early in the quarter were rectified. With the installation of additional ventilation as planned and completion of dike grouting in the coming weeks, the Company anticipates sustainable production of 3,000 tpd by the end of Q2 and continuing to ramp-up further to steady state production.Ventilation Expansion: To date, the Company has completed the construction of the fan bulkheads and is currently installing the two remaining underground ventilation fans to be completed as scheduled this month. The surface ventilation fans planned for installation in Q3 2021, may now arrive at site a few weeks later than planned due to extended shipping times arising from COVID-19 related delays. Consequently, it is expected that the commissioning of the surface fans will not be completed until Q4 2021, which is anticipated to delay the achievement of full steady state production of 5,000 tpd by a similar period.Processing: There were significant improvements made to the processing plant performance and recoveries during the quarter. The Company achieved a weekly average of 4,700 tpd and a maximum daily milling throughput of 5,000 tpd during March, while batch processing ore. 119,000 tons of ore was processed through the concentrator in Q1. Approximately 3,173 tons of concentrate was produced at a 24% average copper grade for Q1 and reaching 26% average copper grade in March. Recoveries improved from 82% in Q4 2020, to recovery levels above 90% in 2021. “I am pleased with the progress achieved in Q1 at our underground mine and the dedication of our team,” stated Mike Ciricillo, Chief Executive Officer of Nevada Copper. “The operation made significant progress through the ramp-up during the first quarter, and we look forward to the interim milestone of production rates of 3,000 tpd expected in June, 2021 and continuing our ramp-up to steady state production.” Open Pit and Property Exploration Plans During Q1 the Company released its property development objectives, including: Open Pit: Follow-up on internal studies which indicate optimized project scaling has potential to improve project economics, including a concurrent phase 1 and phase 2, plus potential larger ultimate production scale; andPlans to undertake infill and extension drilling with aim to bring newly defined mineral inventory into reserves, providing the potential to further improve project economics, followed by release of a resource and reserve update. Exploration: Plans to follow-up on new exploration targets added through the further expansion of the Company’s properties to the east and analysis of geophysical surveys. Underground Future Extension: Additional inferred resources to be in-filled as underground mining advances into new zones;Underground mine extension targets to be further evaluated, including a new potentially large target to the east of the main shaft that is previously untested; andStudy of future expansion potential. Finance Updates During 2021, the Company completed certain financing transactions, including: The Company completed a public offering of units for aggregate gross proceeds of approximately C$38 million and concurrent private placement for aggregate gross proceeds of approximately C$13.1 million.The Company also entered into a credit facility with Pala providing for US$15 million, plus a further US$15 million accordion which Pala has confirmed will be made available to the Company as required (the “2021 Credit Facility”). The Company has drawn the full US$15 million under the original 2021 Credit Facility and US$7.5 million under the accordion feature.Pala has further confirmed it will provide up to an additional US$10 million to the Company through an increase to the 2021 Credit Facility or other form of financing as may be agreed with the Company, in order to provide additional financial resources needed to address the impact of slower development progress through the dike structure during ramp-up.The availability of funds under the Company’s working capital facility with Concord Resources Limited was also increased from US$35 million to US$40 million. During Q1, the Company’s wholly-owned subsidiary, Nevada Copper, Inc., settled legacy disputes with two contractors which improved the Company’s working capital position. Q1 2021 Financial Statements The Company has filed on SEDAR its condensed interim financial statements and the related management’s discussion and analysis for the quarter ended March 31, 2021. These documents are available on the Company’s website at www.nevadacopper.com and the Company’s SEDAR profile at www.sedar.com. Qualified Persons The information and data in this news release was reviewed by Greg French, C.P.G., and Norm Bisson, P.Eng., for Nevada Copper, who are non-independent Qualified Persons within the meaning of NI 43-101. About Nevada Copper Nevada Copper (TSX: NCU) is a copper producer and owner of the Pumpkin Hollow copper project. Located in Nevada, USA, Pumpkin Hollow has substantial reserves and resources including copper, gold and silver. Its two fully permitted projects include the high-grade underground mine and processing facility, which is now in the production stage, and a large-scale open pit project, which is advancing towards feasibility status. NEVADA COPPER CORP.www.nevadacopper.com Mike Ciricillo, President and CEO For further information contact:Rich Matthews, Investor RelationsIntegrous Communicationsrmatthews@integcom.us+1 604 757 7179 Cautionary Language This news release includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts are forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements that relate to mine development plans, production and ramp-up plans and the expected costs, timing, results and funding thereof, and equipment installation. Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as “plans”, “expects”, “potential”, “is expected”, “anticipated”, “is targeted”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements or information are subject to known or unknown risks, uncertainties and other factors which may cause the actual results and events to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Forward-looking statements or information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks and uncertainties relating to: the ability of the Company to complete the ramp-up of the Underground Project within the expected cost estimates and timeframe; requirements for additional capital and no assurance can be given regarding the availability thereof; the impact of COVID-19 on the business and operations of the Company; the state of financial markets; history of losses; dilution; adverse events relating to milling operations, construction, development and ramp-up, including the ability of the Company to address underground development and process plant issues; ground conditions; cost overruns relating to development, construction and ramp-up of the Underground Project; loss of material properties; interest rates increase; global economy; limited history of production; future metals price fluctuations; speculative nature of exploration activities; periodic interruptions to exploration, development and mining activities; environmental hazards and liability; industrial accidents; failure of processing and mining equipment to perform as expected; labor disputes; supply problems; uncertainty of production and cost estimates; the interpretation of drill results and the estimation of mineral resources and reserves; changes in project parameters as plans continue to be refined; possible variations in ore reserves, grade of mineralization or recovery rates from management’s expectations and the difference may be material; legal and regulatory proceedings and community actions; accidents; title matters; regulatory approvals and restrictions; increased costs and physical risks relating to climate change, including extreme weather events, and new or revised regulations relating to climate change; permitting and licensing; volatility of the market price of the Company’s securities; insurance; competition; hedging activities; currency fluctuations; loss of key employees; other risks of the mining industry as well as those risks discussed in the Company’s Management’s Discussion and Analysis in respect of the year ended December 31, 2020 and in the section entitled “Risk Factors” in the Company’s Annual Information Form dated March 18, 2021. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. The forward-looking information and statements are stated as of the date hereof. The Company disclaims any intent or obligation to update forward-looking statements or information except as required by law. The Company provides no assurance that forward-looking statements and information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and information.
“If the games go ahead, then Beijing gets the international seal of approval for what they are doing."
Back Market, an online platform for buying, selling and servicing refurbished tech gadgets, said on Tuesday it raised $335 million in its latest funding round which valued the company at $3.2 billion. To ensure the quality of the refurbished-goods merchants, Back Market has a strict onboarding policy, he said. He estimated the refurbished gadgets market is about $100 billion annually, which includes many of the buy-back programs by smartphone and laptop makers.
With me today are Dermot Smurfit, president and chief executive officer; and Karen Flores, our CFO. Words and expressions reflecting optimism, satisfaction with current prospects, as well as statements in the future tense identify forward-looking statements, but their absence does not mean that a statement is not forward-looking. Forward-looking statements should not be interpreted as a guarantee of future performance or results, as such statements associate risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements.
Participants on today's call are Evan Loh, CEO; Adam Woodrow, president and chief commercial officer; Randy Brenner, chief development and regulatory officer; Michael Bigham, executive chairman; and Sarah Higgins, vice president of finance, controller, and principal accounting officer, will also be available for questions. Before I turn the call over to Evan, I would like to point out that we will be making forward-looking statements, which are based on our current expectations and beliefs.
NEW ORLEANS, May 17, 2021 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors of pending deadlines in the following securities class action lawsuits: Amdocs Limited (DOX)Class Period: 12/13/2016 - 3/30/2021Lead Plaintiff Motion Deadline: June 8, 2021SECURITIES FRAUDTo learn more, visit https://www.claimsfiler.com/cases/view-amdocs-limited-securities-litigation-1 FibroGen, Inc. (FGEN)Class Period: 10/18/2017 - 4/6/2021Lead Plaintiff Motion Deadline: June 11, 2021SECURITIES FRAUDTo learn more, visit https://www.claimsfiler.com/cases/view-fibrogen-inc-securities-litigation Canaan Inc. (CAN)Class Period: 2/10/2021 - 4/9/2021Lead Plaintiff Motion Deadline: June 14, 2021SECURITIES FRAUDTo learn more, visit https://www.claimsfiler.com/cases/view-canaan-inc-american-depositary-shares-securities-litigation Credit Suisse Group AG (CS)Class Period: 10/29/2020 - 3/31/2021Lead Plaintiff Motion Deadline: June 15, 2021SECURITIES FRAUDTo learn more, visit https://www.claimsfiler.com/cases/view-credit-suisse-group-ag-american-depositary-shares-securities-litigation If you purchased shares of the above companies and would like to discuss your legal rights and your right to recover for your economic loss, you may, without obligation or cost to you, contact us toll-free (844) 367-9658 or visit the case links above. If you wish to serve as a Lead Plaintiff in the class action, you must petition the Court on or before the Lead Plaintiff Motion deadline. About ClaimsFiler ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations. To learn more about ClaimsFiler, visit www.claimsfiler.com
NEW ORLEANS, May 17, 2021 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors of pending deadlines in the following securities class action lawsuits: Peloton Interactive, Inc. (PTON)Class Period: 9/11/2020 - 5/5/2021Lead Plaintiff Motion Deadline: June 28, 2021SECURITIES FRAUDTo learn more, visit https://www.claimsfiler.com/cases/view-peloton-interactive-inc-class-a-common-stock-pton-securities-litigation ChemoCentryx, Inc. (CCXI)Class Period: 11/26/2019 - 5/3/2021Lead Plaintiff Motion Deadline: July 6, 2021SECURITIES FRAUDhttps://www.claimsfiler.com/cases/view-chemocentryx-inc-common-stock-ccxi-securities-litigation PureCycle Technologies, Inc. (PCT) f/k/a Roth CH Acquisition I Co. (ROCH)Class Period: 11/16/2020 - 5/5/2021 and/or were holders of Roth securities entitled to participate in the March 16, 2021 shareholder vote on the merger with PureCycle.Lead Plaintiff Motion Deadline: July 12, 2021SECURITIES FRAUD, MISLEADING PROSPECTUSTo learn more, visit https://www.claimsfiler.com/cases/view-purecycle-technologies-inc-common-stock-pct-securities-litigation If you purchased shares of the above companies and would like to discuss your legal rights and your right to recover for your economic loss, you may, without obligation or cost to you, contact us toll-free (844) 367-9658 or visit the case links above. If you wish to serve as a Lead Plaintiff in the class action, you must petition the Court on or before the Lead Plaintiff Motion deadline. About ClaimsFiler ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations. To learn more about ClaimsFiler, visit www.claimsfiler.com
NEW ORLEANS, May 17, 2021 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors of pending deadlines in the following securities class action lawsuits: Vroom, Inc. (VRM)Class Period: 6/9/2020 - 3/3/2021Lead Plaintiff Motion Deadline: May 21, 2021SECURITIES FRAUDTo learn more, visit https://www.claimsfiler.com/cases/view-vroom-inc-securities-litigation Canoo Inc. (GOEV, GOEVW)Class Period: 8/18/2020 - 3/29/2021Lead Plaintiff Motion Deadline: June 1, 2021SECURITIES FRAUDTo learn more, visit https://www.claimsfiler.com/cases/view-canoo-inc-securities-litigation Romeo Power, Inc. (RMO) f/k/a RMG Acquisition Corp. (RMG)Class Period: 10/5/2020 - 3/30/2021Lead Plaintiff Motion Deadline: June 15, 2021SECURITIES FRAUDTo learn more, visit https://www.claimsfiler.com/cases/view-romeo-power-inc-securities-litigation Emergent BioSolutions Inc. (EBS)Class Period: 4/24/2020 - 4/16/2021Lead Plaintiff Motion Deadline: June 18, 2021SECURITIES FRAUDTo learn more, visit https://www.claimsfiler.com/cases/view-emergent-biosolutions-inc-securities-litigation-1 If you purchased shares of the above companies and would like to discuss your legal rights and your right to recover for your economic loss, you may, without obligation or cost to you, contact us toll-free (844) 367-9658 or visit the case links above. If you wish to serve as a Lead Plaintiff in the class action, you must petition the Court on or before the Lead Plaintiff Motion deadline. About ClaimsFiler ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations. To learn more about ClaimsFiler, visit www.claimsfiler.com
Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of investors that purchased Array Technologies, Inc. (NASDAQ: ARRY) securities between October 14, 2020 and May 11, 2021, both dates inclusive (the "Class Period"); and/or Array common stock pursuant and/or traceable to the offering documents issued in connection with the Company’s initial public offering conducted October 2020 (the "IPO" or "Offering"), the Company’s secondary public offering conducted December 2020 (the "December SPO"), or the Company’s secondary public offering conducted March 2021 (the "March SPO"). Investors have until July 13, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
Road blockades connected to weeks of anti-government protests in Colombia will be lifted by security forces in coordination with mayors and provincial governors, President Ivan Duque said on Monday. The sometimes deadly demonstrations, originally called in late April against a now-canceled tax plan, have expanded to include demands like a basic income, an end to police violence and opportunities for young people. The government says some are connected to criminal and guerrilla groups, which it also blames for sparking looting and other violence.
The Webby Awards are celebrating their 25th anniversary by releasing some of the best five-word speeches from past ceremonies, including from some very big names. (May 17)
CALGARY, Alberta, May 17, 2021 (GLOBE NEWSWIRE) -- Parex Resources Inc. (“Parex” or the “Company”) (TSX:PXT) is a company headquartered in Calgary that focuses on sustainable, profitable, conventional oil and gas production. Production Guidance Revised Due to Transportation Blockades A series of protests across Colombia during May 2021 have resulted in transportation blockades that have restricted the production and marketing of Parex’ crude oil. Additionally, the transportation blockades impeded the supply of materials required for capital expenditure activities, including drilling and completions. The blockades were not directly related to Parex’ activities or those of its industry partners. Parex net production over the past week has averaged approximately 31,000 boe/d, with current production approximately 40,000 boe/d. Going forward we expect to continue restarting our normal operations and production, subject to the lifting of blockades in the Llanos Basin. In that respect we note that the local government and authorities have been proactive in working to lift the blockades and minimize the disturbances. Further, in many instances Parex has continued to receive the support of the communities where we operate, live and work. Although the current restrictions from the transportation blockades are easing, Parex is withdrawing its Q2 2021 production guidance, as set forth in the press release dated April 15, 2021, until the Company has greater visibility on its ability to access the local transportation infrastructure. For the period April 1 - May 16, 2021, Parex' production has averaged approximately 44,100 boe/d. Also, Parex is updating its H2 2021 production guidance set forth in the press release dated April 15, 2021 at 48,000 – 50,000 boe/d, with Parex expecting H2 2021 production to average 44,000-50,000 boe/d, with the lower end of the range incorporating the impact of any additional minor and intermittent blockades. Operations Update – Upcoming Activity May 2021 As noted above, a series of national strikes across Colombia have resulted in transportation blockades that have temporarily restricted supplies to our drilling and completions activities. However, Parex is proactively planning to resume the following exploration and growth activities, subject to the transportation blockades being lifted. Block Activity Description Cabrestero 4-6 well program – start drilling late May 2021 VIM-1 Drill the 1st of 2 high impact exploration wells (Basilea) following the La Belleza discovery – spud week of May 17 2021 LLA-32 Drill the Groot exploration well – spud week of May 17 2021 VMM-46 Commence acquisition of 215 square km of 3D seismic – in field early June 2021 2021 Share-buy Back Program: Committed to 10% Repurchase As of May 17, 2021, the Company has repurchased for cancellation 5.4 million common shares, under its NCIB, which commenced on December 23, 2020. As of April 30, 2021, Parex had 127.9 million basic shares outstanding. Parex expects to purchase the maximum allowable 12.9 million shares under the Company's normal course issuer bid program, prior to its expiry on December 22, 2021. For more information, please contact: Mike KruchtenSenor Vice-President Capital Markets & Corporate PlanningParex Resources Inc.Phone: (403) firstname.lastname@example.org NOT FOR DISTRIBUTION OR FOR DISSEMINATION IN THE UNITED STATES Advisory on Forward Looking Statements Certain information regarding Parex set forth in this press release contains forward-looking statements that involve substantial known and unknown risks and uncertainties. The use of any of the words "plan", "expect", “prospective”, "project", "intend", "believe", "should", "anticipate", "estimate", "forecast", "budget" or other similar words, or statements that certain events or conditions "may" or "will" occur are intended to identify forward-looking statements. Such statements represent Parex' internal projections, estimates or beliefs concerning, among other things, future growth, results of operations, production, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, plans for and results of drilling activity, business prospects and opportunities. These statements are only predictions and actual events or results may differ materially. Although the Company’s management believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, levels of activity, performance or achievement since such expectations are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause Parex' actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, Parex. In particular, forward-looking statements contained in this document include, but are not limited to, statements with respect to the Company's focus, plans, priorities and strategies; expectation the Company will restart normal operations and production, subject to the lifting of blockades; support of communities where the Company's operates; H2 2021 average production and the assumptions thereunder; the exploration and growth activities when the Company resumes activities and the timing thereof; and Parex' expectation that it will purchase the maximum allowable number of common shares under its normal course issuer bid.These forward-looking statements are subject to numerous risks and uncertainties, including but not limited to, the impact of general economic conditions in Colombia; industry conditions including changes in laws and regulations, and changes in how they are interpreted and enforced in Canada and Colombia; lack of availability of qualified personnel; the results of exploration and development drilling and related activities; risks associated with negotiating with foreign governments as well as country risk associated with conducting international activities; environmental risks; ability to access sufficient capital from internal and external sources; failure of counterparties to perform under contracts; risk that Brent oil prices are lower than anticipated; risk that Parex' evaluation of its existing portfolio of development and exploration opportunities is not consistent with its expectations; and other factors, many of which are beyond the control of the Company. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect Parex' operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com). Although the forward-looking statements contained in this document are based upon assumptions which Management believes to be reasonable, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. With respect to forward-looking statements contained in this document, Parex has made assumptions regarding, among other things: current and anticipated commodity prices and royalty regimes; the impact (and the duration thereof) that COVID-19 pandemic will have on the demand for crude oil and natural gas, Parex’ supply chain and Parex’ ability to produce, transport and sell Parex’ crude oil and natural; gas; availability of skilled labour; timing and amount of capital expenditures; future exchange rates; the price of oil, including the anticipated Brent oil price; the impact of increasing competition; conditions in general economic and financial markets; availability of drilling and related equipment; effects of regulation by governmental agencies; receipt of partner, regulatory and community approvals; royalty rates; future operating costs; uninterrupted access to areas of Parex' operations and infrastructure; recoverability of reserves and future production rates; the status of litigation; timing of drilling and completion of wells; on-stream timing of production from successful exploration wells; operational performance of non-operated producing fields; pipeline capacity; that Parex will have sufficient cash flow, debt or equity sources or other financial resources required to fund its capital and operating expenditures and requirements as needed; that Parex' conduct and results of operations will be consistent with its expectations; that Parex will have the ability to develop its oil and gas properties in the manner currently contemplated; that Parex' evaluation of its existing portfolio of development and exploration opportunities is consistent with its expectations; current or, where applicable, proposed industry conditions, laws and regulations will continue in effect or as anticipated as described herein; that the estimates of Parex' production and reserves volumes and the assumptions related thereto (including commodity prices and development costs) are accurate in all material respects; that Parex will be able to obtain contract extensions or fulfill the contractual obligations required to retain its rights to explore, develop and exploit any of its undeveloped properties; and other matters. Management has included the above summary of assumptions and risks related to forward-looking information provided in this document in order to provide shareholders with a more complete perspective on Parex' current and future operations and such information may not be appropriate for other purposes. Parex' actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits Parex will derive. These forward-looking statements are made as of the date of this document and Parex disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. Oil and Gas Advisory Net production over the past week has averaged approximately 31,000 boe/d, consisting of approximately 5,388 bbls/d of light crude oil and medium crude oil, 24,485 bbls/d of heavy oil and 6,759 mcf/d of conventional natural gas (96% crude oil). Current production of approximately 40,000 boe/d consists of approximately 6,953 bbls/d of light crude oil and medium crude oil, 31,594 bbls/d of heavy oil and 8,722 mcf/d of conventional natural gas (96% crude oil). For the period April 1-May 16, 2021, Parex’ production has averaged approximately 44,100 boe/d, consisting of approximately 7,665 bbls/d of light crude oil and medium crude oil, 34,832 bbls/d of heavy oil and 9,616 mcf/d of conventional natural gas (96% crude oil). The term "Boe" means a barrel of oil equivalent on the basis of 6 thousand cubic feet ("Mcf") of natural gas to 1 bbl. Boe may be misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf: 1 Bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6 Mcf: 1Bbl, utilizing a conversion ratio at 6 Mcf: 1 Bbl may be misleading as an indication of value. PDF available: http://ml.globenewswire.com/Resource/Download/824dda75-cf4b-4d78-8b33-6827e1da60de
(Bloomberg) -- Less than six months into the year, South Korean retail traders have already bought more local stocks than they did in all of 2020, as a pandemic boom in individual investing shows no signs of abating.Retail investors’ accumulated net purchases of shares in the benchmark Kospi for 2021 reached 51.7 trillion won ($45.6 billion) as of Monday, according to Korea Exchange data. That’s more than last year’s annual record total of 47.5 trillion won.The strong support from the nation’s mom-and-pop traders has helped push the Kospi up more than 9% for the year, making it one of the best performers in the Asia Pacific.The retail traders, referred to locally as “ants,” have helped offset an exodus of domestic institutional investors and the region’s worst foreigner selloff -- overseas investors have dumped nearly $16 billion of Korean stocks this year. They’ve also minimized the negative impact from the return of short-selling, with the Kospi having only slipped 0.4% since a 13-month ban was partially lifted at the start of this month.“They are taking the shares that foreigners dump in stride,” said Kiwoom Securities Co. analyst Han Jiyoung, who expects retail investors to remain net buyers. “Two or three years ago, this amount of foreign selling would have caused the markets to drop more.”Fueled by easy money and pandemic free time, mom-and-pop traders drove the Kospi up more that 30% last year, making it the world’s second-best performer behind Nigeria’s benchmark. Amid their continued hunt for higher returns at a time of low interest rates, individuals now account for about three-quarters of daily stock trading in South Korea.The surge in individual stock investment has also pushed their margin debt levels to an all-time high. Margin financing by retail investors set a record of 23.5 trillion won on April 29 and remains near that level, according to Korea Financial Investment Association data.“Margin trading makes investors vulnerable to short-term market corrections,” said Seo Sang-Young, a market strategist at Mirae Asset Securities Co. “When markets crash, those who bought stocks on debt will be hit harder.”While their penchant for risky trades including volatile microcaps and preferred stock drew regulator warnings last year, the most popular shares among retail traders so far this year have been blue chips including Samsung Electronics Co., SK Hynix Inc. and Hyundai Mobis Co., according to exchange data.“With few other options for investment because of low interest rates, Koreans see stock investment as a way to build wealth,” said Kiwoom’s Han. “They learned last year that stock investment will eventually pay off.”(Updates with margin debt levels in paragraphs 7-8, adds chart)More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- GDS Holdings Ltd. is considering acquiring GLP Pte’s data centers business as the Chinese cloud computing company seeks to expand its digital infrastructure capacity in the world’s second-largest economy, according to people familiar with the matter.GDS, a developer and operator of high-performance data centers across China, is holding preliminary talks with Singapore investment manager GLP over a potential transaction that could value the assets at $8 billion to $10 billion, the people said, asking not to be identified because the deliberations are private. As part of the deal GLP would become a shareholder in Shanghai-based GDS, the people said.Considerations are at an early stage and the companies could decide against pursuing a transaction, the people said. Details including valuation and structure of a deal could change, they said.Representatives for GDS and GLP didn’t respond to phone calls, emails and text messages requesting comment.GDS raised $1.9 billion in a Hong Kong secondary listing last year, according to data compiled by Bloomberg, joining a cohort of U.S.-traded Chinese firms seeking to expand their investor bases. Chief Executive Officer William Huang said in a November Bloomberg Television interview that the company plans to use the proceeds primarily to invest in data centers in China, Hong Kong and possibly Southeast Asia. GDS might also look at M&A opportunities in China and beyond, Huang said.GLP has been developing GLP Huailai Internet Data Centre in Hebei province, northern China, with a total investment of about 10 billion yuan ($1.6 billion), according to its website. The facility will offer more than 15,000 cabinets, which can hold about 200,000 servers, once the project is finished.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Dan Harmon's new animated series for Fox, 'Krapopolis' is the first one to be 'curated entirely on the blockchain.'
Another week, another Brisbane NRL halves pairing.After being belted 50-6 by Manly during last weekend's Magic Round, five-eighth Anthony Milford is set to be dumped for the second time this season by Broncos coach Kevin Walters.
(Bloomberg) -- Asian stocks and U.S. futures rose Tuesday as investors weighed the pace of growth as nations vaccinate and economies reopen against a pick-up in virus cases in the region. The dollar dipped.Taiwan outperformed, jumping as much as 4%, after its biggest rout in more than a year. Japan and South Korea paced gains in a gauge of the region’s stocks. Nasdaq 100 futures outperformed. Earlier, technology and communication services stocks led the benchmark S&P 500 lower, while energy shares rose. Apple Inc. and Microsoft Corp. weighed on the tech-heavy Nasdaq 100. The dollar edged lower, while Treasuries were stable after retreating.Oil was steady near a two-year high as rising optimism around a demand recovery in regions such as the U.S. offset Covid-19 flare-ups in parts of Asia.Investors this week will parse the minutes from the Federal Open Market Committee’s latest meeting for any discussion about accelerating price pressures, and hints of a timeline for reducing asset purchases.Federal Reserve Vice Chair Richard Clarida said during a webinar that the weaker-than-expected April payroll report shows “we have not made substantial further progress” on the central bank’s goals for employment and inflation laid out as thresholds to begin scaling back the central bank’s massive monthly bond purchases.“Hotter inflation has materialized and market volatility is rising as the economic restart gathers pace,” according to BlackRock Investment Institute strategists lead by Jean Boivin. “This is playing out in line with our view that the economy is in a ‘restart.’ We prefer to look through any volatility and see a later ‘lift-off’ from zero rates than markets expect. This means higher-than-expected inflation in the medium term, and underpins our pro-risk stance.”Meanwhile, Hong Kong added Singapore to its list of high-risk nations as cases rose in the city-state, with the highly transmissible strain of Covid-19 that surfaced in India becoming more prominent among the growing number of unlinked cases. The U.S. has recorded its lowest number of new coronavirus infections since the early days of the pandemic.Elsewhere, Bitcoin fluctuated following a volatile weekend that saw comments from Tesla Inc.’s Elon Musk whipsaw prices. Coinbase Global Inc. fell to a record low and below the reference price used in its April direct listing. Gold traded near its highest in almost four months.Here are some key events this week:Reserve Bank of Australia publishes minutes of its latest meeting TuesdayThe Fed publishes minutes from its April meeting Wednesday, which may provide clues to officials’ views on the recovery and how they define “transitory” when it comes to inflationThese are some of the main moves in markets:StocksS&P 500 futures rose 0.3% as of 10:24 a.m. in Tokyo. The S&P 500 fell 0.3%Nasdaq 100 futures gained 0.4%. The Nasdaq 100 fell 0.6%Topix index rose 1.5%Australia’s S&P/ASX 200 Index rose 0.6%Kospi index climbed 1.1%Hang Seng Index rose 1%Shanghai Composite Index was little changedCurrenciesThe yen traded at 109.16 per dollarThe offshore yuan was at 6.4365 per dollarThe Bloomberg Dollar Spot Index dipped 0.1%The euro was at $1.2163BondsThe yield on 10-year Treasuries was at 1.65%Australia’s 10-year bond yield rose five basis points to 1.80%CommoditiesWest Texas Intermediate crude rose 0.4% to $66.52 a barrelGold rose 0.2% to $1,871.12More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.