Mining

BIT Mining and Chain Reaction Form Collaboration for Bitcoin Hashing Systems

Retrieved on: 
Friday, May 19, 2023
Bitcoin, Application-specific integrated circuit, Blockchain, Nuclear chain reaction, BIT, Privacy, History, Chain reaction, HPC, Mining, Architecture, NYSE, ASIC, Cryptocurrency

AKRON, Ohio, May 19, 2023 /PRNewswire/ -- BIT Mining Limited (NYSE: BTCM) ("BIT Mining" or the "Company"), a leading technology-driven cryptocurrency mining company, today announced that it has entered into a collaboration with Chain Reaction, a semiconductor company focused on disruptive blockchain and privacy hardware, to produce next-generation systems for bitcoin mining. The systems, expected to launch later this year, will be based on Chain Reaction's EL3CTRUM ASIC solution.

Key Points: 
  • AKRON, Ohio, May 19, 2023 /PRNewswire/ -- BIT Mining Limited (NYSE: BTCM) ("BIT Mining" or the "Company"), a leading technology-driven cryptocurrency mining company, today announced that it has entered into a collaboration with Chain Reaction , a semiconductor company focused on disruptive blockchain and privacy hardware, to produce next-generation systems for bitcoin mining.
  • BIT Mining is the market leader in next generation architecture and mass production of high-performance, low power systems for the cryptocurrency mining industry.
  • "Chain Reaction's bleeding-edge ASICs will enable BIT Mining to build next-gen systems to advance the Bitcoin mining industry towards faster, more power efficient computing," said Alon Webman, CEO of Chain Reaction.
  • With the crypto mining industry continuing to evolve, BIT Mining looks to develop systems that are more efficient, accessible, and sustainable," said Xianfeng Yang, CEO of BIT Mining.

Gulf & Pacific Equities Corp. reports on First Quarter Results with Revenue of $975,248 And Completes Additional Financing

Retrieved on: 
Friday, May 19, 2023
TSX, International, Acquisition, International Financial Reporting Standards, Tourism, Cryptocurrency, Mining

Toronto, ON, May 19, 2023 (GLOBE NEWSWIRE) -- Gulf & Pacific Equities Corp. (TSX-V: GUF) an established company focused on the acquisition, management and development of anchored shopping centres in Western Canada, reports a 3.7% increase in revenues to $975,248 in the quarter ended March 31, 2023, from $940,004 at the same period last year.

Key Points: 
  • Toronto, ON, May 19, 2023 (GLOBE NEWSWIRE) -- Gulf & Pacific Equities Corp. (TSX-V: GUF) an established company focused on the acquisition, management and development of anchored shopping centres in Western Canada, reports a 3.7% increase in revenues to $975,248 in the quarter ended March 31, 2023, from $940,004 at the same period last year.
  • Details of the three months financial results for fiscal 2023 and 2022 under International Financial Reporting Standards (IFRS), as summarized below, are also available at www.sedar.com or the company's website www.gpequities.com .

Nickel 28 Announces That Pelham’s Director Nomination Notice Is Invalid

Retrieved on: 
Friday, May 19, 2023
Mining, Minerals, Natural Resources, Advance, Partner, FSE, Meeting, NKL, Notice, Supreme court, Law of the United Kingdom, Court, Greenbriar Capital Corp, Chairperson, Lease, Nickel

Pelham has been advised that Nickel 28 independent director Maurice Swan, acting in his capacity as chairman of the Meeting (the “Chairman”), and after taking advice from his own independent legal counsel, has determined that the Notice did not comply with the advance notice provisions in Nickel 28’s articles (the “Advance Notice Provisions”) and, accordingly, the director nominations contained in the Notice would not be considered at the Meeting.

Key Points: 
  • Pelham has been advised that Nickel 28 independent director Maurice Swan, acting in his capacity as chairman of the Meeting (the “Chairman”), and after taking advice from his own independent legal counsel, has determined that the Notice did not comply with the advance notice provisions in Nickel 28’s articles (the “Advance Notice Provisions”) and, accordingly, the director nominations contained in the Notice would not be considered at the Meeting.
  • The Chairman retained independent counsel to consider the validity of the Notice.
  • Pelham, in its response, effectively acknowledged the existence of the defects and that the Notice was not made in accordance with the Advance Notice Provisions.
  • After considering Pelham’s response, and taking advice from independent counsel, the Chairman determined that the Notice did not comply with the Advance Notice Provisions and notified Pelham accordingly.

Newmont Appoints Experienced Chief Financial Officer

Retrieved on: 
Friday, May 19, 2023
Professional Services, Environmental, Social and Governance (ESG), Mining, Minerals, Environment, Sustainability, Natural Resources, University, Flowserve, Multimedia, Hess Corporation, Certified Public Accountant, NEM, Corporation, ArcelorMittal, NGT, United Kingdom, TSX, News, NYSE, Management, Newmont

Newmont Corporation (NYSE: NEM, TSX: NGT) today announced the appointment of Karyn Ovelman as Executive Vice President and Chief Financial Officer.

Key Points: 
  • Newmont Corporation (NYSE: NEM, TSX: NGT) today announced the appointment of Karyn Ovelman as Executive Vice President and Chief Financial Officer.
  • View the full release here: https://www.businesswire.com/news/home/20230518005783/en/
    Karyn Ovelman is a highly experienced financial professional who will focus on financial discipline and maintaining a robust and flexible balance sheet to support Newmont’s capital allocation strategy.
  • Karyn brings a breadth of global experience operating in complex financial environments and has proven leadership and commercial capabilities to enable success during periods of transformation,” said Tom Palmer, Newmont President and Chief Executive Officer.
  • Forward-looking statement may include, without limitation, statements regarding future capital allocation, financial strength and flexibility, financial approach and delivery of long term value.

Coeur to Participate in Upcoming Goldman Sachs Leveraged Finance and Credit Conference

Retrieved on: 
Thursday, May 18, 2023
Natural Resources, Other Natural Resources, Mining, Minerals, Coeur Mining, Senior, Conference, NYSE, Security (finance), Holding company

Coeur Mining, Inc.’s (“Coeur” or the “Company”) (NYSE: CDE) Senior Vice President and Chief Financial Officer, Thomas S. Whelan, will participate in the Goldman Sachs Leveraged Finance and Credit Conference in Rancho Palos Verdes, California on Tuesday, May 23, 2023.

Key Points: 
  • Coeur Mining, Inc.’s (“Coeur” or the “Company”) (NYSE: CDE) Senior Vice President and Chief Financial Officer, Thomas S. Whelan, will participate in the Goldman Sachs Leveraged Finance and Credit Conference in Rancho Palos Verdes, California on Tuesday, May 23, 2023.
  • The Goldman Sachs Leveraged Finance and Credit Conference is an invitation-only investment conference.
  • Presentation materials will be made available on the Company’s website at www.coeur.com .

U. S. Steel Closes on $240 Million Financing to Support Big River 2

Retrieved on: 
Thursday, May 18, 2023
Natural Resources, Sustainability, Environment, Steel, Machine Tools, Metalworking & Metallurgy, Recycling, Mining, Minerals, Manufacturing, Share repurchase, BR2, Risk, Green bond, U.S. Steel, Policy, BofA Securities, J.P. Morgan & Co., Goldman Sachs, MSCI EAFE, Iron, Nature, Annual report, Wells Fargo, Security (finance), Safety, NYSE, Steel mill, Central Europe, Barclays

S. Steel” or the “Company”) today announced the closing of $240 million unsecured Arkansas Development Finance Authority environmental improvement revenue bonds, which carry a green bond designation (the “Green Bonds”).

Key Points: 
  • S. Steel” or the “Company”) today announced the closing of $240 million unsecured Arkansas Development Finance Authority environmental improvement revenue bonds, which carry a green bond designation (the “Green Bonds”).
  • Under the agreement with the Arkansas bond issuer, U. S. Steel will pay semiannual interest.
  • The facility will recycle, refine, and process scrap steel into finished steel products.
  • U. S. Steel is headquartered in Pittsburgh, Pennsylvania, with world-class operations across the United States and in Central Europe.

Labor Agreement for Alcoa’s U.S. aluminum smelters in Indiana and New York ratified by members of United Steelworkers

Retrieved on: 
Thursday, May 18, 2023
Natural Resources, Human Resources, Other Manufacturing, Steel, Machine Tools, Metalworking & Metallurgy, Professional Services, Mining, Minerals, Manufacturing, United Steelworkers, Corporation, Alcoa, Aluminium

Alcoa Corporation announced today that members of the United Steelworkers have ratified a new collective bargaining agreement that covers employees at its aluminum smelters in the United States.

Key Points: 
  • Alcoa Corporation announced today that members of the United Steelworkers have ratified a new collective bargaining agreement that covers employees at its aluminum smelters in the United States.
  • The new three-year agreement master agreement covers approximately 860 active employees at the smelter at Warrick Operations in Indiana and the smelter at Massena Operations in New York.
  • Alcoa’s calcining facility in Lake Charles, Louisiana also has approximately 50 employees who are represented by the United Steelworkers.
  • Wages and benefits from the master agreement applies to those specific employees, although other aspects of an agreement for Lake Charles will be negotiated in July.

Mesa Royalty Trust Announces Trust Income for May 2023

Retrieved on: 
Thursday, May 18, 2023
Professional Services, Mining, Minerals, Oil, Gas, Energy, Finance, Natural Resources, San Juan Basin, MTR, Risk, Form, Trustee, LP, NYSE, Life insurance, Trust

Mesa Royalty Trust (the “Trust”) (NYSE: MTR) announced today the Trust income distribution for the month of May 2023.

Key Points: 
  • Mesa Royalty Trust (the “Trust”) (NYSE: MTR) announced today the Trust income distribution for the month of May 2023.
  • Unitholders of record on May 31, 2023 will receive distributions amounting to $0.487527137 per unit, payable on July 31, 2023.
  • This month, after the Trust’s withholding for cash reserves and the payment of administrative expenses, income from the distributable net profits was $908,551.
  • The working interest owners alone control historical operating data, and handle receipt and payment of funds relating to the royalty properties and payments to the Trust for the related royalty.

Abcourt announces Adjusted Net Earnings of $2.3 million for the Quarter ended March 31, 2023

Retrieved on: 
Thursday, May 18, 2023
Giant, Elder, Quarter, Canada Business Corporations Act, ABI, MRE, Sale, US, Discovery, PEA, Gold, Acquisition, TMX Group, Mining, Sleeping Giant, Mineral resource estimation, Cryptocurrency, Palladium

ROUYN-NORANDA, Quebec, May 18, 2023 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. (“Abcourt” or the “Company”) (TSX Venture: ABI) announces its results for the three months ended March 31, 2023.

Key Points: 
  • ROUYN-NORANDA, Quebec, May 18, 2023 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. (“Abcourt” or the “Company”) (TSX Venture: ABI) announces its results for the three months ended March 31, 2023.
  • Highlights for the Quarter ended March 31, 2023
    Revenues of $6,230,336 for the quarter ended March 31, 2023, from the sale of gold ounces from the cleaning of the Sleeping Giant processing plant.
  • Earnings of $2,089,828 and adjusted net earnings of $2,336,744, compared to a net loss of $1,342,164 and an adjusted net loss of $918,880 for the same period in 2022.
  • A net improvement of cash and working capital during the quarter and the nine-month period ended March 31, 2023, compared to June 30, 2022, in part related to financing activities.

Rapaport Press Release: Rapaport Launches Natural Pearl Auctions and Sales Program

Retrieved on: 
Thursday, May 18, 2023
Other Energy, Natural Resources, Other Retail, Alternative Energy, Energy, Luxury, Mining, Minerals, Retail, Government, Sale, Bahrain Institute for Rights and Democracy, Fresh water, Nature, Rappaport (surname), Gemstone

In a historic move, Rapaport will launch the first-ever Natural Pearl Auction in Bahrain on June 20th.

Key Points: 
  • In a historic move, Rapaport will launch the first-ever Natural Pearl Auction in Bahrain on June 20th.
  • Only natural pearls will be offered for sale, and all will be certified as natural by DANAT.
  • Bahrain has produced natural pearls for centuries as it is blessed with sea-beds fed by fresh water, an ideal setting for natural pearl growth.
  • We are delighted to have this opportunity to offer natural pearls direct from the divers of Bahrain to the jewelry trade,” said Martin Rapaport, Chairman of the Rapaport Group.