On Tuesday, Shares of National Bank of Greece S.A. (NYSE:NBG), lost -3.92% to $0.96, after Greece delayed offering a new debt proposal plan.
“There were no new proposals at this point from the Greek minister,” Eurogroup president Jeroen Dijsselbloem said in a statement, according to USA Today.
Greece’s new finance minister, Euclid Tsakalotos, attended an emergency meeting in Brussels Tuesday without offering a specific new plan regarding Greece’s massive debt, The New York Times reports.
National Bank of Greece S.A., together with its auxiliaries, provides diversified financial services. The company is involved in retail and commercial banking, asset administration, investment banking, brokerage, and insurance activities.
Shares of Magnum Hunter Resources Corp. (NYSE:MHR), inclined 8.05% to $1.61, during its last trading session.
Eureka Hunter Pipeline, a company in which Magnum Hunter Resources Corporation declared that throughput volumes on Eureka Hunter’s gas gathering pipeline system located in West Virginia and Ohio, have now reached a new record high of over 700,000 MMBtu per day on Thursday, July 2, 2015.
The Company declared its intention to pursue the sale of 100% of its equity ownership interest in Eureka Hunter following a Current Report on Form 8-K filed by the Company with the Securities and Exchange Commission on June 25, 2015. Based upon current market conditions, the Company believes that a sale of all of its equity interest in Eureka Hunter could generate up to about $600 - $700 million in gross cash proceeds to Magnum Hunter.
Mr. Gary C. Evans, Chairman of the Board and Chief Executive Officer of Magnum Hunter and Eureka Hunter, commented, “The calculated risks and subsequent capital resources that were deployed over the last year into Eureka Hunter to build out the interconnects (now nine) with the various pipelines located within our area of operation, are proving to be a wise decision. Based upon administration projections derived from producer volumes predictable for the remainder of 2015, we are anticipating throughput volumes approaching 1.0 Bcf per day on Eureka Hunter by year-end. We believe the continued dramatic growth in throughput volumes will enable us to receive an optimal price from potential suitors.”
Magnum Hunter Resources Corporation, an independent oil and gas company, explores for, exploits, acquires, develops, and produces crude oil, natural gas, and natural gas liquid resources in the United States.
Finally, Denison Mines Corp. (NYSEMKT:DNN), ended its last trade with -4.07% loss, and closed at $0.67, hitting its lowest level.
Denison Mines Corp., and Fission Uranium Corp. declared the execution of a Binding Letter Agreement to combine their respective businesses. The Transaction creates a leading Canadian focused diversified uranium company - combining high quality assets and the administration teams of two highly respected companies. Headlining the asset portfolio of the combined company will be two world class uranium exploration and development projects: Fission’s 100% owned Patterson Lake South Project, and Denison’s 60% owned Wheeler River Project, both located in the prolific Athabasca Basin, in Northern Saskatchewan, Canada.
Subject to the terms set out in the Binding Agreement, Fission common shareholders will receive 1.26 common shares of Denison for each common share of Fission held plus $0.0001 per share in cash. Upon completion of the Transaction, the combined company, to be named “Denison Energy Corp.”, will be about 50% owned by each of Denison’s and Fission’s existing shareholders on a fully-diluted in-the-money basis. The market capitalization of Denison and Fission on a combined basis is anticipated to be about CAD$900 million. Based on the 30 day volume weighted average price of Denison’s shares on the TSX of CAD$0.99 as at July 3, 2015, the offer implies a price per Fission common share of CAD$1.25 and represents a premium of about 18% to the 30 day volume weighted average price of Fission’s shares on the TSX of CAD$1.06 as at July 3, 2015.
Denison Mines Corp. engages in uranium mining and related activities in Canada, Mali, Namibia, Zambia, and Mongolia. The company is involved in the acquisition, exploration, and development of uranium properties; and extraction, processing, and sale of uranium.
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