Underground Drilling Intercepts 14.62 Metres Grading 363 Grams Per Tonne Silver, 2.45 % Lead and 4.80 % Zinc, Including 1.5m at 1,960 g/t Ag, 13.25 % Pb, & 27.1 % Zn on S7-1 Vein at the Ying Mine
Silvercorp Metals Inc. (TSX:SVM)(NYSE:SVM) ("Silvercorp") is pleased to report drill results on the S7-1 Vein, part of its 2010 underground diamond drilling program at the Ying Mine, Ying Mining District, Henan Province, China. The 2010 underground drill program at the Ying Mine intended to investigate down dip extensions of several major production veins (e.g. S16W, S14, S7, S21, and S8) and to drill laterally to define new veins or under-explored veins near these major production veins. Due to delays in excavating drill pads at the 260 metre (m) elevation level tunnel (lowest level in the mine), drilling down dip was limited. The Company instead focused on drilling laterally on those previously known but less explored veins from tunnels above the 260m elevation level.
First Majestic to List on the New York Stock Exchange
First Majestic Silver Corp. (TSX:FR)(NYSE:AG)(OTCQX:FRMSF)(FRANKFURT:FMV)(WKN:A0LHKJ) (the "Company" or "First Majestic") is pleased to announce that its common shares have been authorized for listing on the New York Stock Exchange ("NYSE"). The Company expects the shares to begin trading on the NYSE on December 15, 2010 under the trading symbol "AG". The Company will retain its primary listing on the Toronto Stock Exchange under the trading symbol "FR".
"We're pleased to welcome First Majestic Silver Corp., a leading Canadian miner, to the NYSE," said Scott Cutler, EVP and Co-Head of U.S. Listings and Cash Execution, NYSE Euronext. "First Majestic is a welcome extension to our fast-growing roster of Canadian mining companies. The Company and its shareholders will benefit from the deep liquidity and global visibility offered to Canadian companies cross-listed on the NYSE."
Ivanhoe Mines Approves US$2.3 Billion Budget for Ongoing Construction at Oyu Tolgoi Copper-Gold Mining Complex in 2011
Construction Already 13% Complete Toward Initial Production In 2012 Work Includes Measures to Facilitate Future 60% Expansion of Production Capacity to Up to 160,000 Tonnes Per Day From Initial 100,000 Tonnes Per Day
Robert Friedland, Executive Chairman and Chief Executive Officer of Ivanhoe Mines (TSX: IVN)(NYSE: IVN)(NASDAQ: IVN), and John Macken, President, announced today that a US$2.3 billion capital budget has been approved for 2011 in what will be the peak year of construction activity on the first phase of the Oyu Tolgoi copper-gold project in southern Mongolia.
Halo Reports HudBay Drill Results at Lost Deposit 2.3% Copper and 7.5% Zinc Over 6.8 Meters
Halo Resources Ltd. (TSX VENTURE: HLO)(FRANKFURT: HRLN) ("Halo" or the "Company") is pleased to announce that Hudson Bay Mining and Smelting Co., Limited ("HudBay"), an affiliate of HudBay Minerals Inc. (TSX: HBM)(NYSE: HBM), has advised that it has completed the previously announced drill program at the Lost copper-zinc deposit. Assays for an additional 10 holes have been reported, including one intersection of 6.8 meters that averages 2.29% copper and 7.5% zinc with precious metal credits (see table below). All holes were shallow with a maximum depth of 154 meters.
Lynda Bloom, Halo's President& CEO, stated "The HudBay drill program confirms the presence of a thick, high grade plunging feature that now shows remarkable continuity over a strike length of more than 300 meters.
Intel to Acquire McAfee
--Purchase of all of McAfee's common stock for $48 per share in cash, valuing the deal at approximately $7.68 billion. McAfee will operate as a wholly-owned subsidiary, reporting into Intel's Software and Services Group.
--Acquisition enables a combination of security software and hardware from one company to ultimately better protect consumers, corporations and governments as billions of devices - and the server and cloud networks that manage them - go online.
--Intel elevates focus on security on par with energy-efficient performance and connectivity. The acquisition augments Intel's mobile wireless strategy, helping to better assure customer and consumer security concerns as these billions of devices connect.
PotashCorp's Board of Directors Rejects BHP Billiton's Unsolicited, Non-Binding Proposal as Grossly Inadequate
Potash Corporation of Saskatchewan Inc. ("PotashCorp") today announced that its Board of Directors has received and unanimously rejected an unsolicited proposal from BHP Billiton Limited (ASX: BHP ; LSE: BLT ; NYSE: BHP ; "BHP Billiton") to enter into a transaction under which BHP Billiton would acquire PotashCorp for US$130 per share in cash. PotashCorp's Board of Directors thoroughly reviewed BHP Billiton's unsolicited proposal with the assistance of its independent financial and legal advisors and concluded that the proposal is grossly inadequate and it is not in the best interests of its shareholders for PotashCorp to enter into discussions with BHP Billiton.
"The PotashCorp Board of Directors unanimously believes that the BHP Billiton proposal substantially undervalues PotashCorp and fails to reflect both the value of our premier position in a strategically vital industry and our unparalleled future growth prospects," said PotashCorp Chairman Dallas J. Howe.
PotashCorp Reports Second-Quarter Earnings of $1.55 Per Share
Potash Corporation of Saskatchewan Inc. (PotashCorp) today reported second-quarter earnings of $1.55 per share(1) ($472.0 million), more than double the $0.61 per share ($186.2 million) earned in the same period last year. This result was the second-highest second-quarter total in company history and raised first-half 2010 earnings to $3.02 per share ($921.2 million). Our performance for the quarter reflected the continuing recovery in fertilizer demand and was enhanced by a $69.6 million special dividend (equivalent to approximately $0.17 per share) from our investment in Israel Chemicals Ltd. (ICL) in Israel.
Second-quarter gross margin of $583.6 million, driven largely by potash, was more than triple the $169.1 million earned in the same period last year and raised total gross margin for the first six months to $1.3 billion.
Playboy Enterprises, Inc. Announces Receipt of 'Going Private' Proposal at $5.50 Per Share
Playboy Enterprises, Inc. ("PEI") (NYSE: PLA, PLAA) today announced that its board of directors has received a proposal from Hugh M. Hefner ("Hefner") to acquire all of the outstanding shares of Class A and Class B common stock of PEI not currently owned by Hefner for $5.50 per share in cash. Hefner owns 69.5% of PEI's Class A common stock and 27.7% of PEI's Class B common stock. According to the proposal letter, Hefner has had discussions with Rizvi Traverse Management LLC ("Rizvi Traverse"), with whom Hefner expresses an intention to partner in connection with the transaction. The proposal letter also states that Rizvi Traverse informed Hefner that it had contacted major lenders regarding potential financing and that Rizvi Traverse is highly confident ample financial resources will be available to complete the transaction.
Ivanhoe Mines Reaffirms Support for Company's Plan That Protects Shareholders' Rights
David Huberman, lead independent Director of the Ivanhoe Mines Board of Directors and Chair of the Board's Corporate Governance Committee, said today that the company would continue to support its Shareholders' Rights Plan in an arbitration proceeding initiated by Rio Tinto plc.
Mr. Huberman said Ivanhoe Mines firmly believes that the Shareholders' Rights Plan, adopted in April this year, is not in breach of any of Rio Tinto's existing contractual rights. However, the Rights Plan does restrict Rio Tinto - and other shareholders and third parties - whether acting alone or in concert with another party, from acquiring additional Ivanhoe shares in the market beyond the amounts provided for in existing contractual arrangements unless an offer is made to all shareholders.
Altynalmas' Kyzyl Gold Project Estimated Average Annual Gold Production of 368,000 Ounces Confirmed by Independent Pre-Feasibility Study
Study Estimates Initial Mineral Reserves of 3.78 Million Ounces of Gold
Robert Friedland, Executive Chairman of Ivanhoe Mines Ltd. (TSX:IVN)(NYSE:IVN)(NASDAQ:IVN), and David Woodall, Chief Executive Officer of Altynalmas Gold Ltd., announced today at the Kazakhstan International Mineral and Metallurgy Congress in Astana, Kazakhstan, that a new, independent Pre-Feasibility Study (the Study) has confirmed the economic viability of the Kyzyl Gold Project in northeastern Kazakhstan. Ivanhoe Mines owns 50% of Altynalmas, which owns 100% of the Kyzyl Gold Project.
Mr. Friedland and Mr. Woodall were accompanied by Jean Chretien, former Prime Minister of Canada and a special advisor to Ivanhoe Mines, at the Astana conference, which is being attended by international governmental representatives and mining industry leaders.
Gerdau S.A. Proposes to Acquire the Minority Shares in Gerdau Ameristeel Corporation
(Note: all dollar amounts in this press release are expressed in United States dollars)
Gerdau Ameristeel Corporation (NYSE: GNA, TSX: GNA) and Gerdau S.A. (Bovespa: GGBR, NYSE: GGB, Latibex: XGGB) announced today that Gerdau S.A. has delivered to the Board of Directors of Gerdau Ameristeel a proposal to acquire all of the shares of Gerdau Ameristeel Corporation that Gerdau S.A. does not already own for US$11.00 cash per share.
This proposal values Gerdau Ameristeel's minority held shares at approximately US$1.6 billion. Gerdau S.A. already owns 66.3% of the outstanding shares of Gerdau Ameristeel and intends to fund the acquisition and related expenses through its existing cash resources and committed financing.
SAP to Acquire Sybase, Inc.
Strategic Move to Accelerate the Reach of SAP Solutions across Mobile Platforms, Help Companies Manage and Analyze Business Information and Processes on Any Device
WALLDORF, Germany and DUBLIN, Calif., May 12 /PRNewswire-FirstCall/ -- SAP (NYSE:SAP) and Sybase, Inc., Dublin, California (USA) (NYSE:SY) today announced that SAP's subsidiary, SAP America, Inc., has signed a definitive merger agreement to acquire Sybase, Inc., in a transaction that will bring the two information technology (IT) leaders together to enable companies to become better-run "unwired enterprises." As a result of this transaction, customers will be able to better harness today's explosion of data and deliver information and insight in real time to business consumers wherever they work so they can make faster, more informed decisions. Companies will benefit from greater productivity, speed and agility to help their businesses grow.
Cameco Re-enters Underground Development at Cigar Lake
Cameco Corporation (TSX: CCO) (NYSE: CCJ) announced today that crews safely re-entered the main working level of the Cigar Lake mine, 480 metres below surface, on February 10, 2010.
Prior to re-entry, the mine was fully dewatered and the main shaft refurbished including installation of the ladderway, replacement of electrical and mechanical components, and extension of the in-shaft pumping system. The workings at the 420 metre level, where the last inflow occurred, have been inspected and secured.
Safe access to the 480 metre level has been established and work to inspect, assess and secure the underground development has begun. This work will be followed by restoration of underground mine systems and infrastructure in preparation for resumed construction activities.
Brinker International Reports Second Quarter Fiscal 2010 EPS
Brinker International, Inc. (NYSE: EAT) announced second quarter fiscal 2010 earnings per diluted share of $0.29 compared to $0.27 for the second quarter of fiscal 2009, before special items and excluding Romano's Macaroni GrillÃ‚Â® (reconciliation included in Table 2). On a GAAP basis, earnings per diluted share increased to $0.18 from a loss per diluted share of $0.21 for the second quarter in the prior year.
In the second quarter of fiscal 2009, the company completed the sale of Macaroni Grill while retaining a minority ownership interest. The information presented below includes Macaroni Grill unless otherwise noted.
Gildan Activewear Announces Fiscal 2009 Fourth Quarter and Full Year Results
Gildan Activewear Inc. (TSX:GIL)(NYSE:- Fourth Quarter EPS of U.S. $0.35 After Negative Impact of U.S. $0.07 Charge for Distributor Inventory Devaluation -
- Further Market Share Gains in U.S. Wholesale Distributor Channel - - Free Cash Flow of U.S. $113 million in Quarter - - Company Announces New Retail Programs for Fiscal 2010 - - Business Outlook and Assumptions Provided for Fiscal 2010 - - Company Appoints New Independent Board Members -
Gildan Activewear Inc. (TSX:GIL )(NYSE:GIL ) today announced its financial results for the fourth quarter of its 2009 fiscal year as well as for the full fiscal year. The Company also updated its outlook and business plans for fiscal 2010, including the announcement of new retail programs which Gildan has been awarded.
Ivanhoe Mines Announces Construction Budget of US$758 Million For Development Work in 2010 at Oyu Tolgoi Mining Complex in Mongolia
Majority of Oyu Tolgoi Investment Agreement conditions precedent have been satisfied in recent weeks
Ivanhoe Mines' (NYSE: IVN)(NASDAQ: IVN)(TSX: IVN) President and Chief Executive Officer John Macken announced today that the joint Ivanhoe Mines-Rio Tinto Oyu Tolgoi Technical Committee has approved a conditional US$758 million budget for 2010 to begin full-scale construction of the copper-gold mining complex in southern Mongolia.
"The approval of the 2010 construction budget represents the next big step toward bringing this project into production," Mr. Macken said. "Ivanhoe is considering a schedule that could see construction of the initial open-pit mine completed in 2012 and commercial production begin in 2013."
Windstream to Acquire Iowa Telecommunications Services, Inc.
Windstream Corporation (NYSE: WIN) announced today that it has entered into a definitive agreement to acquire Iowa Telecommunications Services, Inc. (NYSE: IWA), based in Newton, Iowa, in a transaction valued at approximately $1.1 billion.
Iowa Telecom shareholders will receive 0.804 shares of Windstream stock and $7.90 in cash per each Iowa Telecom share under terms of the agreement approved by the boards of directors of both companies. Windstream expects to issue approximately 26.5 million shares of stock valued at approximately $269 million, based on the company’s closing stock price on Nov. 23, 2009, and pay approximately $261 million in cash as part of the transaction. Windstream also will repay estimated net debt of approximately $598 million. Windstream intends to finance the cash portion of the transaction and the repayment of Iowa Telecom’s outstanding indebtedness with the proceeds from a debt financing or additional bank borrowings.
CAE wins contracts for four full-flight simulators and for update and relocation services valued at approximately C$55 million
CAE ( CAE ) has signed contracts valued at approximately C$55 million at list prices to design and manufacture four full-flight simulators (FFSs) and related training devices, and to provide simulator updates and relocations. The FFS contracts are with Malaysia Airlines, Kenya Airways, Korean Air, and Mount Cook Airlines and bring the total FFS sales that CAE announced in fiscal year 2010 to 10.
"The civil aerospace market continues to be challenging; however, CAE's diversified portfolio allows us to offer airlines a range of aviation training solutions tailored to our airline customers' requirements," said Jeff Roberts, CAE's Group President, Civil Simulation Products, Training, and Services. "We are delighted that new customers Malaysia Airlines, Kenya Airways, and Mount Cook Airlines have placed their trust and confidence in CAE for their full-flight simulator needs.
Thompson Creek announces 30% increase in molybdenum mineral reserves and new 16-year mine plan for Thompson Creek Mine
Thompson Creek Metals Company Inc. ("Company"), one of the world's largest publicly traded, pure molybdenum producers, today announced new estimates for mineral resources and reserves and a new 16-year mine plan at its Thompson Creek Mine in Idaho. The new estimates are based on definition drilling conducted at the mine since the previous estimates were published in 2007.
"The drilling results are a positive development for the Company. We found additional mineable areas, particularly within the western wall of the existing pit, resulting in a 30% increase in contained molybdenum in proven and probable mineral reserves compared with the 2007 estimate," said Kevin Loughrey, Chairman and Chief Executive Officer.
IMS Health to be Acquired by TPG and CPP Investment Board
IMS Health (NYSE: RX), the world’s leading provider of market intelligence to the pharmaceutical and healthcare industries, today announced that it has entered into a definitive agreement to be acquired by investment funds managed by TPG Capital (“TPG”) and the CPP Investment Board (“CPPIB”) in a transaction with a total value of $5.2 billion, including the assumption of debt.
The agreement was unanimously approved by the IMS Board of Directors based upon the recommendation of the Transaction Committee that was established to undertake a review of IMS’s strategic alternatives. Under the agreement, IMS shareholders will receive $22.00 cash for each share of IMS common stock they own, representing a premium of approximately 50 percent over the closing share price on Friday, October 16, 2009, the last trading day prior to public speculation that IMS was considering its strategic alternatives.