On Thursday, Yamana Gold Inc. (USA) (NYSE:AUY)’s shares inclined 5.03% to $1.99.
YAMANA GOLD INC. (YRI.TO)(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 is compriseent 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 focussed on non-core assets placed in a separate division called Brio Gold. This has been a successful strategy and has led to noteworthyimprovements 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. Its portfolio comprises seven operating gold mines, such as Chapada (copper/gold), El Peñón (gold/silver), Canadian Malartic Mine (gold/silver), Jacobina(gold), Gualcamayo(gold), Minera Florida (gold/silver/zinc), Fazenda Brasileiro, and Mercedes (gold/silver), in addition to a 12.5% indirect interest in the Alumbrera mine (copper/gold/molybdenum); and various development stage projects and exploration properties in Brazil, Chile, Argentina, Mexico, and Canada.
Yahoo! Inc. (NASDAQ:YHOO)’s shares dropped -0.99% to $34.11.
Yahoo! Inc. (YHOO) and NBC Sports Group declared a renewal of their multi-faceted partnership that combines the content and experiences of Yahoo Sports, counting its fantasy sports product, with NBC Sports Digital’s growing video assets and noteworthy promotional power. This expanded partnership brings even more content to Yahoo/NBC Sports viewers, counting Premier League highlights, NBC Sports Regional Network team reports, and Golf Channel. It also extends the reach of the digital and on-air experiences beyond desktop to mobile and Tumblr.
Yahoo Sports and NBC Sports Digital will continue to collaborate on premium sports news and events coverage both online and on-air on NBC, NBCSN, Golf Channel, NBC Sports Regional Networks, NBCSports.com and Yahoo, while maintaining separate sites and editorial control of their respective newsrooms and digital properties.
“Yahoo has been a great partner, and we are happy to extend this very complementary alliance that will now comprise Golf Channel,” said Rick Cordella, SVP and GM, Digital Media, NBC Sports Group. “This partnership extends the digital reach of both sides, and allows us to collaborate on the creation of widely-consumed, cross-platform content, particularly around short-form video and fantasy sports.”
Yahoo! Inc. provides search and display advertising services on Yahoo properties and associate sites worldwide. The company offers Yahoo Search that serves as a starting point to navigate the Internet and discover information; and Yahoo Answers, which enables users to seek, discover, and share knowledge and opinions across mobile phones, tablets, and desktops.
Two Harbors Investment Corp (NYSE:TWO)‘s shares dipped -0.35% to $8.59. The last trading range of Two Harbors Investment Corp (NYSE:TWO) ranges between $8.58 and $8.65. The EPS of the company stands at $0.67. The 52-week range shows that the stock reached higher at $11.00 while its lower range is $7.80 in the last 52-weeks. The average volume of the company is at 2.75 million with the Outstanding Shares of 364.06 million. The market capitalization of the company is $3.13 billion. The Beta of the company stands at 0.54 with the RSI (Relative Strength Index) of 60.29.
Two Harbors Investment Corp. operates as a real estate investment trust (REIT) that focuses on investing in, financing, and managing residential mortgage-backed securities (RMBS), residential mortgage loans, mortgage servicing rights, commercial real estate debt and related assets, and other financial assets.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified with such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.