Monday, April 25, 2016

Nevsun Resources Ltd. - NSU.t

Nevsun Resources Ltd. - NSU.t operates the flagship Bisha Mine in Eritrea, East Africa. The Bisha deposit is a large, high-grade volcanogenic massive sulphide (VMS) producing Gold, Silver, Copper and Zinc.

Total reserves are about 22mt giving an expected mine life into 2025.





On April 24, 2016 the company released News

Nevsun Resources and Reservoir Minerals Combine and Consolidate Timok Copper Project Ownership

Transaction Highlights
  • Strategic US$1.1 billion combination creates a diversified mid-tier base metals company
  • Transaction consolidates a 100% ownership of the high grade upper zone of the Timok Copper Project
  • Timok development is underpinned by Nevsun's strong balance sheet and operating cash flow
  • Combined company has significant exploration exposure in two prolific mining districts
  • Significant benefits to both Nevsun and Reservoir shareholders

Vancouver, British Columbia – Nevsun Resources Ltd. (“Nevsun”) (TSX: NSU) (NYSE MKT: NSU) and Reservoir Minerals Inc. (“Reservoir”) (TSX Venture: RMC) today announced that they have entered into a definitive agreement to combine their respective companies. The combination creates a diversified mid-tier base metals company with a cash producing operating asset in Bisha, a high grade open pit copper-zinc mine, and 100% ownership in the upper zone of the Timok Copper Project in Serbia (“Upper Zone”), a high grade copper and gold development project.   The combined company will be well funded with Nevsun’s existing strong balance sheet and operating cash flow and positioned to deliver value via Nevsun’s highly successful development team.
Under the terms of the arrangement agreement announced today, Nevsun has agreed to acquire all of the outstanding common shares,  and restricted share units of Reservoir on the basis of two (2) common shares and $0.001 in cash for each Reservoir common share pursuant to a Plan of Arrangement under the British Columbia Business Corporations Act for a total value of approximately US$365 million. Based on the closing price of Nevsun common shares on April 22, 2016, the consideration represents a premium of 35% to Reservoir’s 20-day volume weighted average price (VWAP). The transaction will allow both Reservoir and Nevsun shareholders to participate in the ongoing cash flow generation of the Bisha mine, the growth potential of the Timok Copper Project, and significant exploration potential at both Bisha and Timok.  Upon completion of the arrangement, current Nevsun shareholders will own approximately 67% of the combined company and current Reservoir shareholders will own the remaining 33%.

Concurrently, the two companies have also entered into a funding transaction comprised of a private placement for 19.99% of Reservoir’s outstanding common shares and a loan transaction. Nevsun has subscribed for 12,174,928 common shares of Reservoir at a price of C$9.40 per share, for a total subscription price of CAD$114,444,323 (US$90,296,571), increasing Reservoir’s total shares outstanding to 60,905,093, and provided an unsecured cash loan of US$44,703,429 to Reservoir.  The combined funding transaction provides US$135,000,000 in financing to enable Global Reservoir Mineral (BVI) Inc. (“Global Reservoir”), a wholly owned subsidiary of Reservoir to exercise its right of first offer (“ROFO”) in respect of its joint venture with Freeport International Holdings (BVI) Inc. (“Freeport”) in the Timok Copper Project. Upon Global Reservoir closing the exercise of the ROFO, Global Reservoir will have a 100% interest in the Upper Zone and a 60.4% interest in the lower zone of the Timok Copper Project (“Lower Zone”) under two joint venture agreements with Freeport and will become the operator of the project. Freeport may increase its ownership in the Lower Zone to 54% under the terms of the original Timok JV agreement, with Global Reservoir holding the remaining 46%. Upon completion of the combination, Global Reservoir will be a wholly owned subsidiary of the combined company.
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http://canadastockjournal.blogspot.com/2016/04/nevsun-resources-ltd-nsut.html

Saturday, April 23, 2016

Cameco Corporation - CCO.t

Cameco Corporation - CCO.t is one of the world's largest uranium producers accounting for about 15% of the world's production from its mines in Canada, the US and Kazakhstan.

Cameco holds premier land positions in the world's most promising areas for new uranium discoveries.



On April 21, 2016 the media released News

"Cameco (TSX: CCO; NYSE: CCJ) announced today that it is suspending production at its Rabbit Lake operation in northern Saskatchewan and production is being curtailed at Cameco Resources’ US operations by deferring wellfield development. The changes are expected to result in a reduction of about 500 positions at Rabbit Lake and about 85 at the US operations, including employees and long-term contractors.

“We regret the impact these decisions will have on many of the talented and dedicated people working at these operations and on their home communities,” said Cameco president and CEO Tim Gitzel. “Unfortunately, continued depressed market conditions do not support the operating and capital costs needed to sustain production at Rabbit Lake and the US operations. These measures will allow us to continue delivering value to Cameco’s many stakeholders and support the long-term health of our company. We will provide assistance to those affected by these decisions.”

Cameco and its US subsidiaries are working with employees at the affected operations to ensure a safe and orderly implementation of the decisions. The Rabbit Lake operation will be placed in a safe care and maintenance state allowing Cameco the option to resume production when market conditions significantly improve. Cameco will offer affected employees exit packages. Where possible, the company will consider alternatives such as relocation to other Cameco facilities and job sharing options as part of its effort to minimize the impact on people and surrounding communities. A workforce of about 150 people will be required to maintain the facilities and sustain environmental monitoring and reclamation activities at Rabbit Lake. Work to transition the operation to care and maintenance will begin immediately and is expected to be completed by the end of August 2016. Workforce adjustments will occur over the next four months.
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http://canadastockjournal.blogspot.com/2016/04/cameco-corporation-ccot.html

Monday, April 18, 2016

National Bank of Canada - NA.t

National Bank of Canada - NA.t is the sixth largest commercial bank in Canada. It is headquartered in Montreal with branches in most Canadian provinces and 2.4 million personal clients.





On April 15, 2016 the company released News

"
National Bank held its annual meeting of shareholders today at the Bank’s head office in Montreal. Founded in Quebec City in 1859, National Bank has been an active player in Montreal’s development for nearly 145 years.
Solid performance
During the meeting, Louis Vachon, President and Chief Executive Officer, highlighted National Bank’s solid performance in fiscal 2015 and the first quarter of 2016. In addition to delivering a sound performance across all business segments and increasing loan and investment volumes, the Bank continued to invest in technology in order to better serve its clients.
Clearly defined drivers of growth
Over the next quarters, National Bank will pursue its business priorities focussing on three main drivers of growth.
·  Technological investmentsBuilding on a multi-channel offering that complements an increasingly modern branch network centred on technology and advisory services.
·  Targeted expansion across CanadaContinuing to develop the services National Bank is noted for, especially in Western Canada, such as private banking, government financing, infrastructure financing and specialized markets for business, e.g., agriculture, healthcare, film and television.
· A structured approach to international developmentStrengthening the Bank’s presence in certain geographical markets with attractive long‑term growth potential, including Asia and Africa.
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http://canadastockjournal.blogspot.com/2016/04/national-bank-of-canada-nat.html

Sunday, April 10, 2016

Sun Life Financial Inc. - SLF.t

Sun Life Financial Inc. - SLF.t is a leading international financial services organization providing a diverse range of protection and wealth products and services to individuals and corporate customers.

Sun Life Financial has operations in a number of markets worldwide and offers life insurance, health, dental and disability insurance, education savings, medical insurance, investing and retirement planning services, annuities, and a host of other financial security products, specifically designed for various life stages and goals.

On March 29, 2016 the company released News

"Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) (the "Company") today announced that its 2015 Annual Report and its Notice of Annual Meeting and Management Information Circular for the May 11, 2016 annual meeting are now available.

These documents can be accessed electronically at www.sunlife.com/2015AnnualReport and www.sunlife.com/AnnualMeetingMaterials.

Shareholders may obtain printed copies of these documents free of charge by contacting the Company through its website. These documents have been filed with the Canadian securities regulators and the United States Securities and Exchange Commission. Distribution to shareholders began today. The 2015 Annual Report includes the management's discussion and analysis, consolidated financial statements, sources of earnings by business group and other Company information.

About Sun Life Financial
Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth products and services to individuals and corporate customers. Sun Life Financial has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of December 31, 2015, the Sun Life Financial group of companies had total assets under management of $891 billion. For more information please visit www.sunlife.com.
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http://canadastockjournal.blogspot.com/2015/08/sun-life-financial-inc-slft.html