Fronteer Development Group Inc.: 2009 Work-Program to Build on Initial Gold Resource at Long Canyon, Nevada
Fronteer Development Group Inc. (TSX: FRG)(NYSE Alternext US: FRG) is pleased to announce the details of a US$14.1-million, joint-venture funded exploration program at its 51%-owned and operated Long Canyon gold project in northeastern Nevada.
The 2009 work-program will build on the strong geological foundation established in 2008, with a clear focus on both increasing the deposit size and better understanding the scope of potential development scenarios. Fieldwork for the program will commence in early May.
Approximately US$10 million will be spent on expansion and infill drilling, with 35,000 metres of RC and core drilling planned.
Harry Winston announces US$150 million strategic investment by Kinross
Harry Winston Diamond Corporation (TSX-HW; NYSE-HWD) ("Harry Winston") is pleased to announce a strategic investment by Kinross Gold Corporation (TSX-K; NYSE-KGC) ("Kinross"), whereby Kinross will make a net investment of US$150 million to acquire an indirect interest in the Diavik diamond mine and a direct equity stake in the company. As part of the transaction the parties have agreed to jointly consider other opportunities in the diamond mining industry.
According to the terms of the agreement signed today, Kinross has agreed to subscribe for 15.2 million treasury shares from Harry Winston at a price of US$3.00 per share, being approximately 19.9% of the company's issued equity post the transaction. Kinross has the right to maintain this equity level by participating in future equity financings.
Darden Restaurants Reports Third Quarter Diluted Net Earnings Per Share; Announces Quarterly Dividend of 20 Cents Per Share and More Favorable Fiscal 2009 Earnings Outlook
Darden Restaurants, Inc. (NYSE: DRI - News) today reported sales and diluted net earnings per share for the third quarter ended February 22, 2009. In the third quarter, diluted net earnings per share from continuing operations were 78 cents, a decrease of 2.5%, versus 80 cents in the prior year. The Company estimates that integration costs and purchase accounting adjustments related to the October 2007 acquisition of RARE Hospitality International, Inc. (RARE) reduced diluted net earnings per share by approximately two cents in the third quarter of the current fiscal year. Excluding the estimated integration costs and purchase accounting adjustments of approximately two cents, net earnings from continuing operations were 80 cents per diluted share in the third quarter. This compares to net earnings from continuing operations of 85 cents per diluted share in the third quarter of last year excluding estimated integration costs and purchase accounting adjustments of approximately five cents.
Enbridge Gas Distribution Adjusts Prices
Enbridge Gas Distribution (TSX:ENB) (NYSE:ENB), a regulated utility, announced today that it has received approval from the Ontario Energy Board (OEB) for its April 1, 2009 rates. The changes are primarily due to a decrease in North American natural gas prices and the implementation of Enbridge Gas Distribution's 2009 rates.
For typical residential customers(i) who buy their gas supply from Enbridge Gas Distribution, the changes will result in a decrease of about $230 annually. There is also a Gas Cost Adjustment Refund of about $100 during the next nine months for typical residential customers who buy their natural gas from Enbridge Gas Distribution.
Mongolian Parliament's Ongoing Review of Draft Oyu Tolgoi Investment Agreement to Continue as a Priority in April Spring Session
Statement by John Macken, President and Chief Executive Officer, Ivanhoe Mines
Ivanhoe Mines (TSX: IVN)(NYSE: IVN)(NASDAQ: IVN) welcomes the assurance given today by Mongolia's national Parliament, the State Great Khural, that completion of an Investment Agreement for the development of the Oyu Tolgoi copper-gold mining complex will continue to be a principal priority for Mongolia's coalition government when the Parliament reconvenes during the first week of April in its 2009 spring session.
A statement issued today by the State Great Khural press office confirmed that the discussion of the draft Oyu Tolgoi agreement that began this week would resume when Parliament returns for the spring session.
Digital Realty Trust, Inc. Achieves “five 9s” Of Uptime For Fourth Consecutive Year
Digital Realty Trust Turn-Key DatacentersSM Provide Highly Reliable Environment for Mission Critical IT Infrastructure
San Francisco, California and Dublin, Ireland – March 13, 2009 – Digital Realty Trust, Inc. (NYSE: DLR), the world’s largest wholesale datacenter provider, has achieved “five 9s” of uptime in its Turn-Key DatacentersSM once again with another year of 99.999 percent availability across its portfolio of facilities in North America and Europe in 2008. These uptime metrics are based on a comprehensive evaluation of the company’s Turn-Key DatacenterSM facilities in the US and Europe using standard industry methodology.
Gammon Gold Proposes to Acquire Capital Gold; Announces Signing of Letter of Intent
Gammon Gold Inc. ("Gammon Gold") (NYSE: GRS, TSX: GAM) and Capital Gold Corporation ("Capital Gold") (TSX: CGC, OTC Bulletin Board: CGLD) have entered into a letter agreement ("Letter of Intent") relating to Gammon Gold's proposed acquisition (the "Acquisition") of Capital Gold in an all-share transaction subject to satisfactory completion of due diligence and the negotiation of definitive documentation, receipt of Capital Gold shareholder approval, regulatory approvals and the satisfaction of certain other conditions.
The Letter of Intent contemplates, among other things, the issuance of 0.1028 Gammon Gold shares for each Capital Gold common share outstanding (the "Exchange Ratio").
Mongolian Parliament's Review of Draft Oyu Tolgoi Investment Agreement Scheduled to Begin This Week
Statement by John Macken, President and Chief Executive Officer, Ivanhoe Mines
Ivanhoe Mines Ltd. (TSX: IVN)(NYSE: IVN)(NASDAQ: IVN) - Mongolia's State Great Khural (national Parliament) is scheduled to begin its consideration this week of the draft Investment Agreement covering the development of the Oyu Tolgoi copper-gold mining complex in Mongolia's South Gobi Region.
Prime Minister S. Bayar presented the draft agreement to the Speaker of the Parliament D. Demberel last week, beginning the final stage of the approval process.
Stone Energy Corporation Announces Unwinding of 2009 Hedge Positions Resulting in Proceeds of $113 Million and Provides Operational Update
Stone Energy Corporation (NYSE: SGY) announced today that it unwound most of its 2009 crude oil and natural gas hedges. Proceeds from the terminated contracts, which had contract prices well in excess of current market levels, were approximately $113 million. Stone intends to use the substantial portion of the proceeds to build its cash position and reduce bank borrowings. In addition, Stone may use some of the proceeds to reduce outstanding public debt and/or repurchase Stone common shares. Stone also re-hedged a portion of its 2009 volumes and will continue to evaluate hedging opportunities.
Merck and Schering-Plough to Merge
Combined Company Positioned for Sustainable Growth Through Scientific Innovation and a Stronger, More Diversified Product Portfolio - Powerful Joint R&D Pipeline with Strong Candidates in All Development Phases Doubles the Number of Late-Stage Compounds to 18- Broader Product Portfolio in Critical Therapeutic Areas- Expanded Global Presence Including High-Growth Emerging Markets - Expected to be Significantly Accretive, Increase Efficiencies and Result in Cost Savings of Approximately $3.5 Billion Annually
Merck Committed to Maintain Current Dividend Merck & Co., Inc. (NYSE: MRK ) and Schering-Plough Corporation (NYSE: SGP ) today announced that their Boards of Directors have unanimously approved a definitive merger agreement under which Merck and Schering-Plough will combine, under the name Merck, in a stock and cash transaction.
Advantage Replaces 290% of Annual Production in 2008 at a FD&A cost of $7.67 per Boe, Increases Reserves per Unit by 11% and Extends RLI to 15.2 years
Advantage Energy Income Fund ("Advantage" or the "Fund") is pleased to announce the Fund's corporate year end reserves as of December 31, 2008. Year end financial and operating information will be released on or about March 18, 2009.
Overall, the Fund replaced 290% of annual production with the vast majority of reserve additions realized through our successful 2008 drilling program at Glacier, Alberta where the Fund commenced a significant development drilling program on our Montney natural gas resource play. Based on results to date, Advantage estimates that a total capital investment in excess of $2.5 billion will be required to fully develop our extensive Montney land holdings at Glacier.
Talisman Energy Generates a Record $6.2 Billion in Cash Flow and a Record $3.5 Billion in Net Income for 2008
Talisman Energy Inc. (TSX: TLM) (NYSE: TLM) reported its operating and financial results for 2008. Highlights for the year include:
- Cash flow(1) was a record $6.2 billion, up 42% from a year ago due to higher commodity prices; cash flow in the fourth quarter was $1.6 billion, up 54% from a year earlier, due primarily to realized gains on derivative contracts;
- Net income was $3.5 billion, an increase of 69% from a year earlier, and $1.2 billion for the quarter, almost double a year ago;
- Earnings from continuing operations(1) were $2.5 billion, an increase of 167%. The total for the quarter was $537 million, more than four times higher than the previous year, despite a significant decline in oil prices;
Biovail Receives Requisition from Dissident Shareholder Eugene Melnyk
Biovail Corporation (NYSE:BVF)(TSX:BVF) today announced that it has received a requisition from Eugene Melnyk and a company under his control, EM Holdings B.V. requesting that the Board of Directors call a meeting of shareholders to consider certain matters set out in such requisition. The dissident shareholders are believed to hold sufficient shares of Biovail to be able to requisition a meeting under the Canada Business Corporations Act. They have stated they are seeking to elect two nominees to Biovail's Board of Directors and intend to propose several resolutions for consideration by Biovail shareholders.
Agrium Proposes to Acquire CF Industries for US$72.00 Per Share in Cash and Stock, a 30 Percent Premium
Creates Global Leader in Nutrient Manufacturing and Distribution Generates Substantial Operating Synergies and Earnings Accretion Triples Agrium's Phosphate and UAN Solution Capacity and Provides Significant Distribution Assets
ALL AMOUNTS ARE STATED IN U.S.$
Agrium Inc. (TSX: AGU)(NYSE: AGU) today announced that it has submitted a proposal to the board of directors of CF Industries Holdings, Inc. (NYSE: CF) to acquire all of the capital stock of CF for cash and Agrium shares at $72.00 per CF share, or a total of approximately $3.6-billion, based on yesterday's closing price of Agrium shares.
IPIC and NOVA Chemicals Announce Friendly, Recommended All-Cash Acquisition of NOVA Chemicals
International Petroleum Investment Company ("IPIC") and NOVA Chemicals Corporation ("NOVA Chemicals") (NYSE:NCX)(TSX:NCX) announced today that they have entered into an agreement (the "Arrangement Agreement") providing for the acquisition by IPIC of all of NOVA Chemicals' outstanding common shares (the "Shares") for a cash consideration of US$6.00 per Share. The acquisition will be implemented by way of a court-approved plan of arrangement under the Canada Business Corporations Act (the "Arrangement").
The consideration per Share represents a 348% premium over the February 20, 2009 closing price of the Shares on the New York Stock Exchange ("NYSE") and a 204% premium over the combined and currency-adjusted 30-day volume-weighted average price of the Shares on the Toronto Stock Exchange ("TSX") and NYSE up to and including February 20, 2009. The total value of the Arrangement, including assumption of NOVA Chemicals' net debt obligations, is approximately US$2.3 billion.
IAMGOLD Announces Year End Gold Reserves Increase 20% to 9.6 Million Ounces and Niobium Reserves Increase by 36%
IAMGOLD Corporation (TSX: IMG)(NYSE: IAG)(BOTSWANA: IAMGOLD) announces its 2008 year end Mineral reserve and resource statement.
Joseph Conway, President & CEO stated, "We are very pleased to announce that 2008 was an excellent year for IAMGOLD in terms of reserve renewal at all of our continuing operations."
IAMGOLD's total proven and probable reserves increased by 20% or 1.6 million ounces to 9.6 million ounces as at year end 2008, compared with a year earlier. Including depletion of 1.1 million ounces attributed to 2008 gold production, reserves increased by 2.7 million ounces.
Tata Communications Partners With Digital Realty Trust For DatacentreSM Lease Agreement In The UK
Dublin, Ireland and London, England – February 23, 2009 – Digital Realty Trust, Inc. (NYSE: DLR), the world’s largest wholesale datacentre provider, has completed a Turn-Key DatacentreSM lease agreement with Tata Communications, a provider of a new world of communications and the global telecommunications arm of the $62.5 billion Tata Group, one of India’s oldest, largest and most respected business conglomerates. As per the agreement, Tata Communications will establish a new datacentre at a Digital Realty Trust facility in the UK to support its global IT infrastructure.
Cash Flow Rises to a Record $2.2 Billion in 2008
Reserves Grow 13.9 Million Ounces to 138.5 Million Ounces
Barrick Gold Corporation (NYSE: ABX)(TSX: ABX) -FOURTH QUARTER AND YEAR-END REPORT 2008- Based on US GAAP and expressed in US dollars
For a full explanation of results, the Financial Statements and Management Discussion & Analysis, 2009 Outlook, mine statistics and gold reserves and resources please see the Company's website, www.barrick.com.
Highlights - Barrick reported record operating cash flow of $2.21 billion for 2008, a 27% increase over $1.73 billion in the prior year. Net income was $0.79 billion ($0.90 per share) compared to $1.12 billion ($1.29 per share) in the prior year. Adjusted net income rose 60% to $1.66 billion ($1.90 per share)(1) compared to $1.04 billion ($1.19 per share) in the prior year period.
Goldcorp Reports Record Gold Production and Net Earnings in Fourth Quarter; Gold Reserves Increase 7%
All Amounts in $US unless stated otherwise GOLDCORP INC. (TSX:G)(NYSE:GG) today reported record gold production of 691,800 ounces for the quarter ended December 31, 2008. Reported net earnings amounted to $958.1 million in the quarter, or $1.31 per share, which includes a non-cash foreign exchange gain on the revaluation of future income tax liabilities. Adjusted net earnings(1) in the quarter were $84.4 million, or $0.12 per share. The Company also announced today that total proven and probable reserves increased 7% to 46.3 million ounces as of December 31, 2008, Goldcorp's fifth consecutive annual reserves increase.
Yamana Gold Provides Mercedes Pre-Feasibility and Ernesto/Pau-a-Pique Scoping Study Results and Further Update
YAMANA GOLD INC. (TSX:YRI)(NYSE:AUY)(LSE:YAU) today announced the results of its studies relating to development of its Mercedes and Ernesto/Pau-a-Pique projects. All amounts are expressed in United States Dollars unless otherwise indicated.
MERCEDES, MEXICO The Mercedes project is located in northern Sonora, Mexico approximately 200 kilometres south of Tucson, Arizona. The deposit consists of a complex gold-silver hydrothermal low-sulphidation vein/stockwork system with several mineralized structures discovered to date, two of which, the Mercedes and Klondike veins, have been significantly advanced and support development of Mercedes as a mine.