On Friday, Planned Hotels and Resorts Inc (NYSE:BEE)’s shares inclined 0.14% to $13.92.
B2Gold Corp (BTG) disclosed robust results from the Optimized Feasibility Study (OFS) of Fekola Gold Project, commencement of construction at Fekola in Mali and the closing of the previously announced $350 million Revolving Credit Facility. All dollar figures are in United States dollars unless otherwise indicated. All Fekola Project amounts are on a 100% ownership basis.
Highlights of the Optimized Fekola Feasibility Study
- Open pit gold mine with an initial production life of mine (“LOM”) of 12.5 years based on probable mineral reserves
- Average annual gold production for years one through seven of 350,000 ounces per year at a $418 operating cash cost per ounce
- Average annual LOM gold production of 276,000 ounces per year at an operating cash cost of $552 per ounce
- New open pit probable mineral reserves of 49.2 million tonnes at a grade of 2.35 grams per tonne (“g/t”) gold containing 3.72 million ounces of gold at a stripping ratio of 4.5:1
- Average LOM gold recovery of 92.8% resulting in a total of 3.45 million ounces produced over the 12.5 year life of mine
B2Gold Corp., a mid-tier gold mining company, explores and develops mineral properties in Nicaragua, the Philippines, Namibia, Burkina Faso, and Chile. The company principally explores for gold, silver, and copper. It primarily holds a 100% interest in the La Libertad mine, which comprises of an exploitation concession covering 10,950 hectares located in Nicaragua; a 95% interest in the Limon mine property that covers an area of 12,000 hectares located northwest of Managua; and has 95% interest in Limon gold mine located in northwestern Nicaragua. The company also has interest in the Masbate mine, an open pit gold mine located near the northern tip of the island of Masbate; has a 90% interest in the Fekola gold mine located in southwestern Mali; and has 81% interest in the Kiaka gold project located in Burkina Faso. B2Gold Corp. was incorporated in 2006 and is headquartered in Vancouver, Canada.
B2Gold Corp (NYSEMKT:BTG)’s shares dropped -4.20% to $1.14.
Planned Hotels and Resorts Inc (BEE) declared that it has closed a new $750.0 million unsecured credit facility with an accordion feature allowing for additional borrowing capacity up to $1.0 billion. The new facility is comprised of a $450.0 million unsecured revolving credit facility and a $300.0 million unsecured term loan. The new facility replaces a $300.0 million stock secured revolving credit facility.
The new revolving credit facility’s interest rate is based upon a leverage-based pricing grid ranging from LIBOR plus 165 basis points to LIBOR plus 240 basis points. Initial pricing will be LIBOR plus 165 basis points, which is a reduction from the previous facility’s pricing of LIBOR plus 200 basis points. The new term loan’s interest rate is also based upon a leveraged based pricing grid ranging from LIBOR plus 160 basis points to LIBOR plus 235 basis points. Initial pricing will be LIBOR plus 160 basis points. At closing, the Company has $80.0 million outstanding on the revolving credit facility in addition to the $300.0 million funded unsecured term loan. The combined unsecured facility has a five-year term and will mature in May 2020.
Planned Hotels & Resorts, Inc is an equity real estate investment trust. The firm invests in the real estate markets of the United States. It is owner and asset manager of the highest quality portfolio of upper-upscale and luxury hotels and resorts. The firm was formerly known as Planned Hotel Capital Inc. Planned Hotels & Resorts, Inc was founded in 1997 and is based in Chicago, Illinois.
At the end of Friday’s trade, NextEra Energy Inc (NYSE:NEE)‘s shares surged 0.11% to $109.04.
NextEra Energy Capital Holdings, Inc. declared that it will conduct a remarketing of its Series F Debentures due Sept. 1, 2017 (the “Debentures”) (CUSIP No. 65339K AE0), which are presently outstanding in the aggregate principal amount of $650 million, on Aug. 5, 2015 (and, if necessary, on the following two business days). The Debentures were originally issued as part of NextEra Energy, Inc.’s Corporate Units (CUSIP No. 65339F 887) on Sept. 11, 2012 (the “Corporate Units”) in conjunction with a Purchase Contract Agreement, dated as of Sept. 1, 2012 (the “Purchase Contract Agreement”). The Debentures are guaranteed by NextEra Energy Capital Holdings’ parent company, NextEra Energy, Inc. (NEE).
NextEra Energy, Inc., through its auxiliaries, generates, transmits, and distributes electric energy in the United States and Canada. The company generates electricity from gas, oil, solar, coal, petroleum coke, nuclear, and wind sources. As of December 31, 2014, it served about 9 million people through about 4.7 million customer accounts in the east and lower west coasts of Florida.
Merrimack Pharmaceuticals Inc (NASDAQ:MACK), ended its Friday’s trading session with 0.86% gain, and closed at $10.56.
Merrimack Pharmaceuticals, Inc. (MACK) Reports Second Quarter 2015 Financial Results
Key Recent Events
- Acceptance of New Drug Application (NDA) and receipt of Precedingity Review designation by the U.S. Food and Drug Administration (FDA) for MM-398 with a aim of October 24, 2015 as the action date for the NDA under the Prescription Drug User Fee Act (PDUFA date);
- Expansion of MM-398 imaging study to metastatic breast cancer;
- Addition, effective August 11, 2015, of Dr. Yasir Al-Wakeel as Chief Financial Officer and head of Corporate Development; and
- Addition of John Dineen, former CEO of GE Healthcare, to its Board of Directors.
Second Quarter 2015 Financial Results
Revenue for the second quarter of 2015 was $36.6 million contrast with revenue of $27.8 million for the second quarter of 2014, an enhance of $8.7 million or 31%. This enhance was attributable to $36.6 million of revenue recognized related to Merrimack’s partnership with Baxalta during the second quarter of 2015, counting $20.0 million of non-recurring revenue recognized related to a milestone that was achieved when the European Medicines Agency (EMA) accepted for review a Marketing Authorization Application (MAA) filed by Baxalta for MM-398. This enhance was offset by $27.8 million of reduced revenue due to the termination of Merrimack’s partnership with Sanofi effective December 17, 2014.
Merrimack Pharmaceuticals, Inc., a biopharmaceutical company, engages in discovering, developing, and preparing to commercialize medicines paired with companion diagnostics for the treatment of cancer primarily in the United States. Its therapeutic oncology candidates in clinical development comprise MM-398, a nanotherapeutic encapsulation of the chemotherapy drug irinotecan, which is has accomplished Phase III clinical trials for the treatment of patients with metastatic pancreatic cancer whose cancer had progressed on treatment with the chemotherapy drug gemcitabine; in a Phase I clinical trial as a monotherapy in patients with glioma and in combination with cyclophosphamide in patients with pediatric solid tumors; and in a Phase 1 translational clinical trial designed to identify predictive biomarkers associated with MM-398.
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