BofA/Merrill Lynch Starts CVR Partners (UAN) at Buy
Street Insider - 7:00 AM ET
BofA/Merrill Lynch initiates coverage on CVR Partners with a Buy. For an analyst ratings summary and ratings history on CVR Partners click here. Shares of CVR Partners closed at $22.56 yesterday, with a 52 week range of $21.00-$30.00. fro
ranerz Provides Corporate Update to ShareholdersFont size: A | A | A
8:31 AM ET 5/8/13 | Marketwire
Uranerz Energy Corporation ("Uranerz" or the "Company") (TSX: URZ)(NYSE MKT: URZ)(FRANKFURT: U9E) is pleased to provide an update on Company activities.
The Company's primary focus over the past year has been on construction of our processing facility and installation of the monitor, injection and recovery wells for in-situ recovery operations at Nichols Ranch. The initial wellfield is now substantially completed. The processing facility is over 80% completed with tanks, pumps, ion exchange columns, sand filters and ancillary equipment fully installed. Installation of the process piping, electrical controls and the control room is ongoing. Talented field and operations personnel have been employed and are developing the standard operating procedures and carrying out start-up training.
In late October 2012 the Wyoming Department of Environmental Quality, Water Quality Division, issued the deep disposal well permit for Uranerz' Nichols Ranch ISR Uranium Project. Receipt of the deep disposal well permit concluded a long, but ultimately successful, effort to obtain all of the regulatory permits and licenses needed to construct and operate an ISR uranium facility in Wyoming.
The Company expects the Nichols Ranch ISR Uranium Project to recover uranium later in 2013. Regulatory milestones are being pursued in order to meet start-up requirements following completion of the processing facility and wellfield construction activities. The drilling pads for the required two deep disposal wells have been completed and drilling is ready to begin. The Nichols Ranch ISR Uranium Project is licensed for a recovery level of up to two million pounds of uranium per year with initial annual recovery targeted for 600,000 to 800,000 pounds after ramp-up. Nichols Ranch will serve as a platform for the potential future development of the Company's other Powder River Basin properties with possible enhanced economics for adjacent and satellite projects.
As previously announced, the Company's application to the Wyoming Business Council for a $20,000,000 loan under the Wyoming Industrial Development Revenue Bond Program has recently received the support of the State of Wyoming's Governor, Attorney General and State Treasurer, subject to customary closing conditions. The loan is expected to carry an annual interest rate of 5.75% and be repayable over seven years. Uranerz is now working with the State administrators to complete the documentation for the closing of this financing.
The United States continues to be the largest market in the world for uranium with the largest nuclear fleet of any country with 104 reactors. U.S. uranium mines produce approximately four million pounds of U3O8 per year, but annual uranium consumption far exceeds that, at over 50 million pounds. Management of the Company considers those market dynamics to be favorable to Uranerz. Earlier this year the Company signed a second long-term uranium sales contract with Exelon, the operator of the largest nuclear fleet in the U.S., for the sale of uranium over a five year period commencing in 2016, at defined prices adjustable for inflation. As previously announced, the Company had already entered into one sales contract with Exelon and has another in place with another utility, for a portion of its planned production.
Uranerz recently restated its 2012 Financial Statements to expense all the Nichols Ranch ISR Uranium Project costs previously capitalized. The Company will continue to expense remaining expenditures to comply with U.S. GAAP as it applies to exploration stage companies.
Further, the amended Annual Report on Form 10-K/A for the fiscal year ended December 31, 2012, filed with the Securities Exchange Commission on April 29, 2013, contained a going concern qualification from its independent registered public accounting firm. This announcement is made in accordance with NYSE MKT Company Guide which requires disclosure of receipt of an audit opinion containing a going concern qualification.
In 2010 the Company implemented a Shareholder Rights Plan to safeguard our shareholders' interests by discouraging undervalued or unfair takeovers of the Company. In accordance with its terms, the Plan is required to be reconfirmed by shareholders at our 2013 Annual General Meeting. The Board and Management are recommending that shareholders reconfirm the Plan, which would extend it for a further three years, for the same reasons as adoption of the Plan was originally recommended. The Shareholder Rights Plan is designed to ensure that, in the context of a bid for control of the Company, all shareholders have an equal opportunity to participate in the bid, and the Board has sufficient time to explore and develop alternatives to maximize shareholder value.
Akamai soars on J.P. Morgan upgrade, results
MarketWatch - 9:54 AM ET
SAN FRANCISCO (MarketWatch) - Shares of Akamai Technologies soared Thursday morning a day after the company reported a surge in profit. J.P. Morgan also upgraded the stock to overweight from neutral saying the company's media business "accelerated and appears positioned to outperform again in the second quarter." Akamai's products helps speed up content delivery on the Internet. Akamai shares were trading up nearly 19% at $42.91. On Wednesday, the company reported a 65% jump in net income on strong sales and lower costs.
CAMBRIDGE, Mass. and WASHINGTON, April 18, 2013 /PRNewswire via COMTEX/ -- AkamaiÂ® Technologies, Inc. , the leading cloud platform for helping enterprises provide secure, high--performing user experiences on any device, anywhere, and Daon, a leader in identity authentication technology and services, announced the availability of Mobile Authentication as a Service (MAaaS). The solution is designed to provide cloud-based multi--factor authentication to increasingly mobile federal employees.
Delivered as a cloud-based application in conjunction with CGI Group Inc. -the first large IT services provider to receive FedRAMP authorization - the new MAaaS solution can be used across a wide variety of mobile devices including smartphones, tablets and wirelessly connected laptops. By allowing federal agencies to maintain security control at the application level even if they do not manage the actual device, MAaaS can be used in conjunction with increasingly popular "Bring Your Own Device" (BYOD) programs.
"Public sector computing is happening on a wide variety of mobile devices, many of which are privately owned by federal employees," explained Tom Ruff, vice president, Public Sector, Akamai Technologies. "As such, federal agencies are looking for more effective ways to manage devices, applications and data in smart, secure and affordable ways, while at the same time adhering to programs such as Cloud First."
"The introduction of 'MAaaS' in CGI's secure cloud environment supports the growing adoption of BYOD in the public sector," said James Pyon, CGI vice president. "This enhancement reflects CGI's continuous efforts to work with our partners to evolve our cloud solutions to meet changing client needs."
Designed to be highly flexible, the new MAaaS solution can allow authentication parameters to be customized based on application and associated risk policy. This multi-factored, layered approach can help ensure the right level of protection is applied to protect information and privacy. Unlike mobile authentication solutions that employ single or 2-factor authentication, the MAaaS solution can incorporate as many as seven factors of authentication provided by Daon.
"As part of the Daon pilot for the National Strategic Trusted Identities in Cyberspace (NSTIC) initiative, we have been able to provide our members a secure and easy way to authenticate themselves to the restricted areas of our website," said Carter Morris, senior vice president, Transportation Security Policy at the American Association of Airport Executives (AAAE). "Enabling our membership to conveniently use their own smartphones or tablets to verify their identity when accessing the website combined with the increased level of security gained from the IdentityX platform creates a clear win for our membership."
The MAaaS solution is also designed to allow government agencies to incorporate existing Common Access Card (CAC) or Personal Identity Verification (PIV) card implementations into their mobile authentication strategies. This should allow agencies to take full advantage of the government's current investments in efforts such as X.509 compliance technology, while allowing greater flexibility and security to their workforce.
"Our patented and proven IdentityX secure mobile authentication platform provides secure human authentication while the secure high-performance of the Akamai Intelligent Platform(TM) provides internet security and enhanced user experience. CGI's secure federal cloud provides the certified infrastructure and supporting services," stated David Budd, vice president of enterprise sales at Daon. "Together, we have created a unique offering that is designed to provide cloud-based mobile authentication for federal agencies that need to secure mobile transactions and mitigate the risk of compromised systems and data loss. MAaaS is a perfect example of how advanced services can be offered safely and with exceptional performance in the cloud."