Wednesday, September 27, 2017

WestJet Airlines Ltd. - WJA.t

WestJet Airlines Ltd. - WJA.t is a low-cost carrier that provides scheduled and charter air service to 88 destinations in Canada, the United States, Europe, Mexico, Central America and the Caribbean.

On September 27th, 2017 media reported News

WestJet Airlines said it will offer fares that are 40 per cent cheaper than those currently available in Canada as it unveiled new details about Swoop, the ultra-low-cost carrier it plans on launching next summer. After months of behind-the-scenes planning, WestJet revealed the new name and logo of its no-frills carrier, which will operate as a separate and distinct brand within the WestJet family. Swoop is expected to start selling discounted tickets in early 2018 and will begin flying passengers on six Boeing 737-800s in late June of 2018.




Friday, September 15, 2017

New gold mines online this year in Canada

Pretium Resources’ Brucejack mine, in B.C.’s Golden Triangle, achieved commercial production in July – eight years after the high grade Valley of the Kings deposit was discovered.

The deposit was discovered in 2009 by Silver Standard Resources and a year later, Pretium Resources had its IPO and acquired the project. Over its first eight years, Brucejack is expected to produce 504,000 oz. of gold annually, with production averaging 404,000 oz. per year for the remaining 10 years.
TMAC Resources declared commercial production at the Hope Bay mine, 125 km southwest of Cambridge Bay in Nunavut, on May 15. The underground mine is expected to produce 160,000 oz. of gold per year over a 20-year mine life at 2,000 t/d from three deposits.
Atlantic Gold’s Moose River Consolidated (MRC) mine, about 85 km northeast of Halifax. Over a minimum 8.5-year mine life, MRC will produce 87,000 oz gold per year from two open pit deposits. Construction at the mine, which began in the second quarter of 2016, was over 95% in August. Commercial production is expected in early 2018.
New Gold bought the Rainy River gold project, 65 km northwest of Fort Frances, Ontario in 2013. Slated for first production in September and commercial production in November, Rainy River will be the company’s fifth mine.

With a 14-year mine life, the open pit and underground operation is expected to produce 325,000 oz a year over its first nine years at a rate of 21,000 t/d. Proven and probable reserves total 3.8 million oz gold and 9.4 million oz silver in 104.3 million tonnes.

Wednesday, September 13, 2017

Martin Shkreli: ‘Most-Hated’ CEO jailbound - Bail Revoked - Update

Uber loudmouth "pharma bro" Martin Shkreli has talked himself into a much-harsher prison than he was ever likely to face for scamming his hedge-fund investors. He would have likely landed in a minimum-security prison camp. At least until his January sentencing, he’s cooling his dopey heels in the notorious Brooklyn Metropolitan Detention Center, a place that looks good only when compared to the “supermax” prison in Florence, Colo
“He’s going to be in total shock” said Attorney-in-Charge Deirdre von Dornum of the Federal Defenders of New York’s Eastern District office, who visited a client at the MDC on Wednesday. Race and gangs are two issues, his cockiness and notoriety others. He will be strip searched and if moved into general population instead of isolation could face a very unpleasant ride behind bars.
A judge jailed former pharmaceuticals company CEO Martin Shkreli on Wednesday after finding that he violated his bail on a securities fraud conviction with a social media posting she agreed posed a threat to Hillary Clinton. Defence attorneys had argued at a hearing in federal court in Brooklyn that the post by Shkreli, offering a $5,000 bounty to anyone who could grab him one of Clinton's hairs while she's on a book tour, was political satire. But U.S. District Judge Kiyo Matsumoto didn't see the humour, saying the offer could be taken seriously by fellow Clinton detractors. The Clinton offer could be viewed as “a solicitation of an assault,” the judge said before revoking Shkreli's $5 million bail.
Long before jurors reached their verdict, Martin Shkreli was guilty on one count: gall in the first degree. During his securities-fraud trial, prosecutors nailed the former biotech CEO for one of his lies. Shkreli liked to brag he was a Columbia University alum. He wasn’t. Most would shrink into their seats. Not Shkreli. Later that day, he took to his Facebook Live Stream and hurled obscenities at all his critics. He was wearing a Columbia T-shirt.
Martin Shkreli is best known as the founder of Turing Pharmaceuticals AG, where he gleefully spiked the price of a life-saving drug 5000 times. He was also accused of repaying creditors by stealing $11 million from Retrophin Inc., another medical company he founded. Prosecutors described it as a Ponzi scheme or robbing one bank to repay another. Facing a prison term of up to 20 years, Shkreli stands out in the annals of American CEOs turned convicts.

Shkreli made one conventional legal decision: he didn’t take the stand because his many lies could’ve been used against him.

Sunday, September 10, 2017

Tanzania seizes diamonds from Petra Diamonds

The Tanzanian government has confiscated diamonds worth nearly $30m after accusing British company Petra Diamonds of having declared a lower value when trying to export the gems. Finance minister Philip Mpango said the diamonds extracted from the Williamson Diamonds mine had been “nationalized”. The mine is 75% owned by Petra Diamonds, with the remaining stake held by the Tanzanian state.

According to Tanzanian authorities, the documents from Williamson Diamonds estimated the value of the shipment at $14.7m based on a lower declared weight, while in fact they were worth double that.
The allegations contained in the documents mirror a gold export probe launched by Tanzanian President John Magufuli earlier this year as part of a major overhaul of Tanzania’s mining industry. That investigation has taken such heavy toll on Barrick Gold-owned Acacia Mining (LON:ACA), that the company decided this week to reduce operations in the country.

Wednesday, September 6, 2017

Centerra Gold Inc - CG.t

Centerra Gold Inc - CG.t operates 2 producing mines, Kumtor in the Kyrgyz Republic and the Boroo mine in Mongolia.

In 2015 Centerra produced 530,000 oz at AISC of $877 per ounce. In 2016, Centerra produced 598,677 ounces of gold and 10.4 million pounds of copper from its two operations.

On September 6, 2017 the company released News

Centerra Gold Inc. (TSX: CG) comments today regarding ongoing discussions between the Company and the Government of the Kyrgyz Republic (the “Government”) in relation to the Company’s Kumtor Project. The Company is aware of press reports in the Kyrgyz Republic today describing statements made by the Government to a Parliamentary committee, which included terms of a proposed settlement between the parties.

The Company confirms that its discussions with the Government regarding a settlement have reached an advanced stage but cautions that they remain subject to completion, including finalization of all relevant terms of the settlement, formal approval by Centerra’s Board of Directors and execution of definitive agreements.