On Monday, Mobile TeleSystems OJSC (ADR) (NYSE:MBT)’s shares inclined 0.96% to $9.46.
Mobile TeleSystems OJSC (ADR) (MBT) declared its unaudited IFRS financial results for the three months ended March 31, 2015.
Key Financial Highlights of Q1 2015
- Merged group revenue raised 2.7% y-o-y to RUB 100.2 bln.
- Total revenue in Russia raised 3.6% y-o-y to RUB 90.4 bln.
- Mobile service revenue in Russia improved 3.9% y-o-y to RUB 70.5 billion.
- Data traffic revenue in Russia grew 26.0% y-o-y to RUB 18.1 bln.
- Handset sales raised 1.2% y-o-y to RUB 6.3 bln.
- Group Adjusted OBDA down 2.0% to RUB 41.3 bln.
- OIBDA in Russia raised 0.9% y-o-y to RUB 38.2 bln.
Key Corporate and Industry Highlights
- Won a tender for a nationwide license for the provision of 3G telecommunications services in the 1950-1965 MHz/2140-2155 MHz in Ukraine. The cost of the license amounted to UAH 2.7 bln.
- Launched LTE network in the 1800 MHz range in Moscow and LTE network in the 800 MHz range throughout the Moscow region.
- Launched LTE network in the 1800 MHz range in Saint Petersburg and the Leningrad Region.
- Launched LTE network in the 1800 MHz range in the Krasnodar region in southern Russia.
- Annual dividend recommendation by the MTS Board of RUB 19.56 per ordinary MTS share (RUB 39.12 per ADR), or a total of RUB 40.419 bln based on the full-year 2014 financial results, upon acceptance by the AGM and completion of this payment, MTS will have paid out up to RUB 53.2 bln rubles based on fiscal year 2014 financial results.
- Signed a USD 200 mln equivalent term loan facility agreement with China Development Bank Corporation (“CDB”) in renminbi and US dollars.
Mr. Alexey Kornya stated that At MTS they have long considered dividends to be a key commitment to their shareholders. This is both a reflection of the strong market, in which they operate, and prudent administration of their business. They are happy that the results of 2014 will allow them to pay out the largest dividend in their history; for the Fiscal Year 2014, MTS will have paid out 53.2 billion rubles. Most importantly, this sum is derived from their free cash flow, which does not require them to resort to outside funding to finance this payment. Unlike some, our view is that a dividend story is best preserved by paying one. And in that respect in April, the Board recommended to the AGM to be held on June 25, 2015, to approve annual dividends of 19.56 rubles per ordinary MTS share, or a total of 40.4 billion rubles, based on the full-year 2014 financial results.
Mobile TeleSystems OJSC provides telecommunication services in Russia and the Commonwealth of Independent States. The company offers a range of mobile and fixed line voice and data telecommunications services, including data transfer, broadband, pay-TV, and various value-added services, as well as sells equipment and accessories.
Banro Corporation (USA) (NYSEMKT:BAA)’s shares gained 0.35% to $0.371.
Banro Corporation (USA) (BAA) provides an update of its Mineral Resource and Mineral Reserve estimates at its wholly-owned projects on the Twangiza-Namoya gold belt in the Democratic Republic of the Congo (“DRC”). The annual review of Mineral Resources and Mineral Reserves at the Company’s four core projects, Twangiza, Namoya, Lugushwa and Kamituga, has resulted in a substantial enhance in Mineral Reserves with the conversion of transition and fresh Mineral Resources into Mineral Reserves at Twangiza.
Highlights
- The Twangiza Proven and Probable Reserves raised 59% to 1.64 million ounces (“Moz”) of gold (22.38Mt @ 2.28g/t Au) with the inclusion of non-oxide materials in the reserve pit shell which have been proven economically treatable with the existing plant. This expands the Twangiza mine life utilizing the existing plant to 14 years.
- At Namoya, the Proven and Probable Mineral Reserves have reduced 5% to 1.27 Moz (20.53Mt @ 1.92g/t Au), primarily due to mining depletion.
- Banro’s overall Mineral Reserves have grown by 23% to 2.91 Moz (42.91Mt @ 2.11g/t Au) at US$1,200/oz gold price.
During 2014, the Company scaled down its exploration activities at its Twangiza, Namoya, Lugushwa and Kamituga projects and focused its geological expertise on supporting the production growth at Twangiza, development at the Namoya Mine and identification of near mine high grade targets.
In order to consolidate Banro’s position on the various exploration sites, some limited exploration activities are planned for 2015 using small teams focused on generating new oxide targets in Lugushwa and Kamituga. At Namoya, exploration drilling activities will be focused on near mine resource upgrade and resource generation activities. The primary objective is to upgrade inferred resources within the Namoya Summit-Filon B reserve pit into a higher confidence resource for conversion into mineral reserves. Another objective is to define additional near mine oxide resources within 5 kilometers of the Run-Of-Mine pad. At Twangiza, delineation drilling will be focused on near mine oxide resources generation on the Twangiza East and West mineralization.
Banro Corporation, together with its auxiliaries, engages in the exploration, development, and production of mineral properties. It primarily explores for gold. The company holds a 100% interest in 4 gold properties, counting Twangiza, Namoya, Lugushwa, and Kamituga comprising 13 exploitation permits that cover an area of about 2,612 square kilometers in the South Kivu and Maniema provinces of the Democratic Republic of the Congo.
At the end of Monday’s trade, Tesla Motors Inc (NASDAQ:TSLA)‘s shares dipped -0.12% to $250.38.
Tesla Motors Inc (TSLA) future Model 3 will comprise a crossover, according to a report.
J.B.Straubel, the electric car company’s CTO, declared the addition of a crossover to the Model 3 portfolio at the EIA Energy Conference in Washington DC, according to the Wall Street Journal.
Tesla is already on the record about a Model 3 sedan that will sell for about $35,000–roughly half the price of the current Model S sedan. The Journal stated that the Model 3 “lineup,” due in 2017, is predictable to be priced at $35,000 and offer 200 miles of battery range. Tesla’s first crossover, the Model X, is slated to go on sale later this year.
Straubel also said that by 2020 Tesla should be selling 500,000 vehicles annually. He mentioned that future vehicles are in the works but did not elaborate, according to the report. And the CTO picked up an oft-stated theme from CEO Elon Musk: lithium-ion battery technology will eventually become so inexpensive that electric powertrains will be the primary “fuel” for light vehicles.
Tesla Motors, Inc. designs, develops, manufactures, and sells electric vehicles, electric vehicle powertrain components, and stationary energy storage systems in the United States, China, Norway, and internationally. It also provides development services to develop electric vehicle powertrain components and systems for other automotive manufacturers.
AuRico Gold Inc (NYSE:AUQ), ended its Monday’s trading session with 2.62% gain, and closed at $3.13.
AuRico Gold Inc (AUQ) declared that Institutional Shareholder Services Inc. (“ISS”) and Glass, Lewis & Co., LLC (“Glass Lewis”), two leading proxy advisory firms, have recommended that both Alamos and AuRico shareholders vote FOR the plan of arrangement to combine the two companies at their special meetings of shareholders to be held on June 24, 2015.
ISS and Glass Lewis cited the sound planned rationale behind the transaction and favorable market reaction in recommending Alamos and AuRico shareholders vote in favour of the plan of arrangement to merge the two companies.
ISS is the leading provider of corporate governance solutions to the global financial community. More than 1,700 institutional clients rely on the expertise of ISS to assist them make more informed investment decisions on behalf of their shareholders.
AuRico Gold Inc. operates as a gold producer with mines and projects in North America. Its principal projects comprise the Young-Davidson gold mine comprising of contiguous mineral leases and claims totaling 11,000 acres located in Northern Ontario, Canada; and the El Chanate mine comprising 22 mineral concessions that cover an area of about 4,618 hectares located in Sonora State, Mexico.
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