On Monday, Yamana Gold Inc. (USA) (NYSE:AUY)’s shares inclined 4.42% to $1.89.
YAMANA GOLD INC. (AUY) herein declares that in the context of current market conditions and in consideration of recent positive operational developments at its wholly-owned partner Brio Gold Inc. (“Brio Gold”), it has decided to suspend efforts regardingthe monetization of Brio Gold. Yamana will continue to hold the Brio Gold assets within the Yamana portfolio of assets and manage Brio Gold as a separate division within Yamana as it has since late last year. Yamana intends to hold the assets for the foreseeable future, and will re-evaluate other options related to Brio Gold pending material improvements in market conditions and the ability to realize proper value.
Yamana’s Chairman and Chief Executive Officer, Peter Marrone, commented on the decision as follows: “We made a planned decision to distinguish our assets between core and non-core. This comprises with our existing portfolio approach to assets. Over the past year, Yamana administration has been able to concentrate its efforts on core assets while a smaller, dedicated administration focused on non-core assets placed in a separate division called Brio Gold. This has been a successful strategy and has led to noteworthy improvements in both portions of our portfolio. While we have been going down the path of monetizing Brio Gold, it was always on the basis of achieving an appropriate valuation. The projected pricing in the marketed private placement reflected a balance between immediacy of funds and a fair valuation. We were prepared to accept that balance as a fair trade off. Current market conditions are not supportive of that marketed private placement on terms we would find acceptable and, further, are not reflective of true value for these assets, particularly in light of recent positive operational developments. We have concluded that there is more value at this time for the Company and for its shareholders to keep these assets within Yamana rather than sell them on less than optimal terms. With operational improvements, resource growth leading to improved mine lives, and recent cost reductions all leading to projected positive and strong contributions to EBITDA and cash flows, all in a country in which we already successfully operate, we determined there is considerable value in keeping these assets until market conditions significantly improve and we demonstrate the true fair value of these assets. We will not be rushed into monetizing all or any portion of them.”
Yamana Gold Inc. engages in gold mining and related activities, counting exploration, extraction, processing, and reclamation. The company has precious metal properties and land positions in the Americas.
American Airlines Group Inc (NASDAQ:AAL)’s shares gained 3.19% to $42.40.
American Airlines issued the following statement on the United States and Cuba reaching an arrangement that will permit planned air service between the two countries for the first time in more than 50 years.
“Declarement is great news for our customers as it brings us one step closer to connecting the U.S. and Cuba with planned air service,” said American’s chairman and CEO Doug Parker. “As the leading carrier to the Caribbean and the leading U.S. airline to Cuba, we look forward to establishing planned service to Cuba in 2016, from Miami and other American hubs. We appreciate the Administration’s efforts and the hard work of the U.S. negotiators to reach this arrangement.”
Charter Service to Cuba
American has operated charter service to Cuba since 1991 with flights from Miami, Tampa and Los Angeles to five Cuban destinations: Camaguey (CMW), Cienfuegos (CFG), Havana (HAV), Holguin (HOG) and Santa Clara (SNU). American has been the leader in the U.S. to Cuba market for nearly 25 years. This year, American will operate about 1,200 charter flights to Cuba, more than any other U.S. carrier and a 9 percent enhance from 2014.
On Dec. 12, American expanded its reach to Cuba with the launch of new charter service, offering customers travel options between Los Angeles International Airport (LAX) and Jose Marti International Airport (HAV) in Havana, and providing the only nonstop service between the West Coast of the U.S. and Cuba.
American Airlines Group Inc., through its auxiliaries, operates in the airline industry. As of December 31, 2014, the company operated 983 mainline jets, in addition to 566 regional aircrafts through regional airline auxiliaries and third-party regional carriers. It serves 339 destinations in 54 countries.
BRF SA (ADR) (NYSE:BRFS)‘s shares surged 0.42% to $14.45. BRF SA (ADR) (NYSE:BRFS) is now worth about $12.88 billion. The share price has made a -1.3% loss in the past 5 days and has lost -38.12 since 2015 kicked off. Analysts are forecasting EPS growth of 0.71% for next fiscal year and 5.55% growth in the next 5 years. The stock trades with a beta of 0.90. The stock price is above by 10.47% as contrast to the average price over the last 200 days. The company has 62.70% gross margins.
BRF S.A., together with its auxiliaries, focuses on raising, producing, and slaughtering poultry, pork, and beef in Brazil. It operates in three segments: Domestic Market (Brazil), Foreign Market (International), and Food Service.
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