I suppose SGL.TO could sell another 25% stake in Dixonville. That would just about cover the debt pay-down specified in the review. Maybe they will live to see another oil cycle after all... but I am not sure if they'll be able to profit from it in any significant way. Only time will tell.
@@Dixonville Asset Sale Spyglass has signed a purchase and sale agreement with a wholly owned subsidiary of Eagle Energy Trust ("Eagle") for a non-operated 50 percent working interest in the Dixonville Montney "C" oil pool for cash consideration of $100 million prior to normal closing adjustments. The sale is expected to close prior to the effective date of January 1, 2015. The proceeds will be used to reduce bank debt and will reduce annual interest expense by approximately $5 million.
Actually, I'd think that was exactly their thinking. They figure the risk is low that the product will disappear along with support for it, because the company will get bought out by a big player that is under no danger of disappearing, unlike DWCH which most certainly will if left to its own devices.
No idea, but 30 is pretty far out of the money (and pretty much near where the stock was trading until the restructure news hit), so I'm guessing it was a long stockholder selling covered calls to reduce his ACB. I'd think someone that is short the stock would be grabbing calls closer to the current price to lock in some profits.
So let me get this right... analysts are complaining that airlines are planning to grow capacity too fast, and the DOJ is complaining they are colluding to grow it too slowly. So the analysts are basically inciting collusion. Maybe the DOJ should focus their investigations on analysts instead of the airlines
Airlines getting hit today on this bit of news
@@@WASHINGTON (AP) -- A document obtained by The Associated Press shows the Justice Department is investigating whether airlines are colluding to grow at a slower pace as part of an effort to keep airfares high.
Personally, I prefer the lower risk one used by SSTK. From a Forbes article out today...
@@@“The reason we are able to offer real unlimited subscriptions and the competitors aren’t is that we are the only group that invested millions in creating and acquiring content that we wholly own distribution rights to,” says Holland. “So Shutterstock is a great company, but they are a very two-sided marketplace. They only pay commission on something that sells. But they do not actually own the assets so every time something is distributed then they have to pay the creator, whereas we spent money to acquire all of our unlimited libraries.” In other words, the basic business models of the two companies differ fundamentally: Shutterstock is protected on the downside, but has limited upside; it scales its revenue and profit by leveraging other people’s assets and by providing the marketplace for them to sell them, giving Shutterstock consistent variable margins. VideoBlocks has made a big upfront investment, but has the potential for a higher upside; it scales by buying assets at the right price upfront and selling them over and over again to a growing number of subscribers which they hope will yield ever increasing variable margins.
Sorry didn't see anything.
DNN is all guts no glory. They do have an absolutely kickazzz holding in Wheeler River, but until U prices soar again it means nothing. I hold some DNN that I got for free (traded it back in the glory days before Fukushima), but I fear CCJ or RIO or whoever will scoop in and buy it out for dirt cheap before the next cycle.
Well it was actually a merger of UUUU and US holdings of DNN, but nevertheless...
@Dorothy Kosich | 17 April 2012 00:04 Energy Fuels and Denison Mines have entered into Cdn$106 million all-stock transaction which allows Energy Fuels to acquire all of Denison’s U.S. mining assets and operations, forming what is hoped to be a U.S. pure uranium miner. As Denison shareholders receive 1.106 common shares of Energy Fuels for each common share of Denison, the Denison shareholders would end up with a 66.5% stake in the combined company. The result, Energy Fuels and Denison management believes, would be “creation of the largest 100% U.S. pure-play uranium producer and one of the largest holders of National Instruments 43-101 (NI 43-101) compliant U.S.-based uranium resources. The combined company would hold 49.8 million pounds of measured and indicated U3O8 resources. Denison brings to the deal the only conventional operating uranium mill in the United States, White Mesa, located near Blanding, Utah. The facility can process up to 8 million pounds annually of U3O8.
Srebank's proposal to sell their portion of MTL debt at full value was a no-starter. There has to be an incentive for such a transaction to occur. I don't know what they were thinking but it's no surprise there are no takers. Perhaps this reality check will lead them to make a serious sale offer this time around.
BK has been talked about what... two years now, and still has not happened. It's clear that none of the banks (or the government) wants to deal with that kind of complex mess, so I suspect negotiations on a settlement will continue even as court cases are filed.
Yeah that'll fix the company's problems for sure.... Meanwhile back at the ranch
@@@8:46 am Acuity Brands beats by $0.02, reports revs in-line (AYI) : Reports Q3 (May) earnings of $1.37 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus Estimate of $1.35; revenues rose 13.2% year/year to $683.7 mln vs the $686.47 mln consensus.
So it appears that the company has dodged a bullet for a few months but the cost is high. SGL.TO last reported a drawdown of $182M on the $200M facility, and that facility will now be effectively reduced to $125M by early next year. Consequently, the firm has to come up with $57M in a few months, and there's two ways to do it: further divestments or recapitalization. The former will mean loss of assets at low valuations, while the latter would be devastating to existing shareholders given the current market cap. Stuck between a rock and a hard place. Oil prices need to kick back up and soon or I'm afraid this goose is cooked.
@CALGARY , June 30, 2015 /CNW/ - Spyglass Resources Corp. ("Spyglass", or the "Company") (TSX: SGL, OTCQX: SGLRF) announces that following the Company's semi-annual review by its lenders, the total credit facility, as amended, remains at $200 million . The credit facilities now consist of a $100 million syndicated borrowing base facility and a $100 million syndicated reducing term facility. The syndicated borrowing base facility is reviewed semi-annually and both facilities currently have a May 29, 2016 maturity date. The reducing term facility is expected to be paid through recapitalization and asset divestiture opportunities and required to be reduced to $25 million by January 31 , 2016. The Company expects its interest rate in 2015 to average approximately 7.25 percent. Management's attention remains on managing the resources of the Company through a difficult commodity price environment, reviewing recapitalization opportunities and ongoing property dispositions.
And yet you choose not to mention this part of the story
@Transportation company JB Hunt Transport Services JBHT is set to join the S&P 500 index after market closes on Jun 30, 2015. J.B. Hunt will replace Integrys Energy Group TEG which will be acquired by the Milwaukee-based utility holding company Wisconsin Energy Corp. WEC. Meanwhile, J.B. Hunt will yield its place in the S&P MidCap 400 index to S&P SmallCap 600 constituent Molina Healthcare MOH – a Long Beach, CA-based multi-state managed care organization.
MNKD's drug is rapidly turning into an unmitigated disaster.
@MannKind's Afrezza Lags Behind Biggest Failure in Inhaled Insulin BOSTON (TheStreet) -- The number of prescriptions written for MannKind's (MNKD) inhaled insulin drug Afrezza have barely made a dent in the diabetes market since partner Sanofi (SNY - Get Report) launched the product five months ago. Afrezza is even underperforming Exubera, the first inhaled insulin drug, launched by Pfizer in 2006. Exubera was a commercial failure, forcing Pfizer (PFE) to abandon the product after one year.
It's common knowledge they all have buyback plans. What is not known is precisely when the company is executing on it. You said 'today' like it was a fact, when it was really just a guess.
Well... so LMT has struggled to stay above the 200 day SMA since beginning of May, and has now clearly broken down through it. A 50/200 day SMA death cross appears imminent. Is it finally time to short this stock?