Monday, November 26, 2018

GM closing all operations in Oshawa

GM’s history in Canada dates back more than 100 years.
General Motors is planning to close all operations in Oshawa, affecting thousands of high-paying jobs.

The announcement is expected shortly. Oshawa is a city of about 159,000 people located roughly 60 km east of Toronto. Sources say the Oshawa closures are part of a global restructuring. There are about 2,500 union positions and roughly 300 salaried employees in the Oshawa area.
GM merged with McLaughlin Buicks in 1918. The Oshawa Assembly Plant opened in 1953.

Thursday, November 15, 2018

Bitcoin in serious correction

Wednesday, November 14, 2018

Tahoe Resources Inc. - THO.t

Tahoe Resources Inc. - THO.t operates the shuttered Escobal project, a high-grade silver discovery located about 70 km southeast of Guatemala City, the La Arena and Shahuindo gold mines in Peru and the Timmins West and Bell Creek gold mines in Canada.
On November 14, 2018 the company released News

Pan American Silver Corp. and Tahoe Resources Inc. have entered into a definitive agreement for Pan American to acquire all of the outstanding shares of Tahoe pursuant to a plan of arrangement.

Pursuant to the arrangement, Tahoe shareholders may elect to receive $3.40 (U.S.) in cash or 0.2403 Pan American share for each Tahoe share, subject in each case to proration based on a maximum cash consideration of $275-million (U.S.) and a maximum number of Pan American shares issued of 56.0 million, totalling $1,067-million (U.S.). The base purchase price represents a premium of 34.9 per cent to Tahoe's volume weighted average price (VWAP) for the 20-day period ending on Nov. 13, 2018.

In addition, Tahoe shareholders will receive contingent consideration in the form of contingent value rights (CVRs), that will be exchanged for 0.0497 Pan American share for each Tahoe share, currently valued at $221-million (U.S.), and payable upon first commercial shipment of concentrate following restart of operations at the Escobal mine.
On November 6, 2018 the company released News

Tahoe Resources loses $190-million in Q3 2018

Tahoe Resources Inc. has released financial and operating results for the thirdquarter ended Sept. 30, 2018. The company produced 91,200 ounces of gold during the quarter at total cash costs and all-insustaining costs (AISC) of $807 and $1,263 per ounce, respectively.

Sunday, November 11, 2018

Magma Copper smelter chimney stack falls

Resolution Copper, a joint venture between giants Rio Tinto and BHP Billiton, demolished a 94-year-old copper smelter stack near the Arizonian town of Superior, some 60 miles east of downtown Phoenix.

The proposed Resolution Copper Mine, which is believed to host one of the biggest copper deposits in the world, is a project slated to produce 9 billion tonnes of copper during its mine life of 40 years. Production is forecast to start in about 10 years. The project has already consumed nearly $1.2 billion of Rio’s and BHP’s capital.