On Thursday, Shares of AngloGold Ashanti Limited (ADR) (NYSE:AU), gained 4.80% to $6.98.
As declared in a press release dated March 26, 2014 , Zonte (the “Company”), in partnership with several Colombian Partners, made applications for mineral titles in Colombia . One of the applications was made over open ground sitting over the Gramalote Deposit which is a joint venture between AngloGold Ashanti (AU) and B2Gold (BTO.TO) (BTG). This application was subject to review by the Secretaria de Minas (Secretary of Mines), Department of Antioquia, Colombia , who has acknowledged the area under application has open ground, but notified the Company’s partner that it is denying the application. Zonte and its partner have now engaged legal counsel to challenge this decision. Legal counsel has advised the Company that it is of the opinion the application was not processed in accordance with the Colombian Mining Code.
The Gramalote Deposit is stated to contain 2.535 Million ounces of gold in the total measured and indicated categories grading 0.81 g/t gold at a cut off of 0.25 g/t gold (source B2Gold Corp 43-101 technical report dated June 8 , 2012). The application in question was made over open ground between titles sitting on top of the Gramalote Deposit and surrounding areas. Multiple open areas were identified and comprised in the application, counting one continuous area of about 17.8 hectares in the Gramalote Deposit area. Within the deposit area, a continuous open area sitting over the deposit and between titles measures 21 metres in width and nearly 600 metres in length and an additional area measures 13 metres in width and nearly 400 metres in length. These areas are also continuous with another open area just east of the Gramalote Deposit which measures 58 metres in width and over 500 metres in length.
The Company’s agreement with its partner provides that its partner will receive common shares of Zonte in consideration for its assistance in making the applications for and on behalf of Zonte. Following the agreement, Zonte’s partner will not retain any direct interest in the titles.
AngloGold Ashanti Limited operates as a gold mining and exploration company. It also produces silver, uranium oxide, copper, molybdenum, and sulphur. The company has 20 operations and exploration projects in South Africa, Continental Africa, Australasia, and the Americas.
Shares of E*TRADE Financial Corp (NASDAQ:ETFC), inclined 1.38% to $30.11, during its last trading session.
E*TRADE Financial Corporation, declared that its Board of Directors authorized the Company to repurchase up to $800 million of its common stock. The authorization is effective right away and extends through March 31, 2017.
“Recently’s declaration brings our fourth major capital deployment action in 2015, after having reduced and refinanced corporate debt, terminated wholesale funding obligations, and begun the process of growing our balance sheet to our targeted size of about $50 billion,” said Paul Idzik, Chief Executive Officer. “It also marks the first time in more than eight years that the Company has returned capital to shareholders through a repurchase program – a natural next step to continue driving value for our owners, while providing us with the flexibility to evaluate further opportunities, should they arise.”
The repurchases may take place over the duration of the program at prices the Company deems appropriate, and are subject to market conditions. The repurchases may be effected in the open market, in privately negotiated transactions, may utilize Rule 10b5-1 programs, and may be suspended or terminated at any time.
E*TRADE Financial Corporation, a financial services company, provides brokerage and related products and services primarily to individual retail investors under the E*TRADE Financial brand name. It operates through two segments, Trading and Investing, and Balance Sheet Administration.
Finally, Shares of Solar City Corp (NASDAQ:SCTY), ended its last trade with 3.42% gain, and closed at $28.70.
Solar City Corporation and Silver Lake Kraftwerk, Silver Lake’s energy and resource innovation fund, declared that they have agreed to a planned investment of $113 million in aggregate principal amount of Solar City’s Zero Coupon Convertible Senior Notes (the “notes”). Silver Lake Kraftwerk has agreed to invest $100 million, SolarCity Chairman Elon Musk will invest $10 million and CEO Lyndon Rive will invest $3 million.
SolarCity is the #1 provider of rooftop solar in the U.S., and presently provides more than one out of every three new residential solar electricity systems. The company provides solar electricity directly to homeowners, businesses and government organizations for less than they spend on utility bills. SolarCity installed more residential solar than its next 36 competitors combined in Q2 2015—the most recent data available—and also installed more commercial solar than any other provider in the first half of 2015.
The investment by Silver Lake Kraftwerk is almost quadruple the size of its initial investment in SolarCity made in February 2012, which it subsequently exited in September 2013.
Solar City Corporation designs, manufactures, installs, maintains, monitors, leases, and sells solar energy systems to residential, commercial, government, and other customers in the United States. It offers solar energy systems; solar lease and power purchase agreement finance products; mounting hardware for photovoltaic panels; and related software, in addition to develops a proprietary battery administration system, which is designed to enable remote, bidirectional control of distributed energy storage that can provide benefits to customers, utilities, and grid operators.