Category: Canada

Sagicor nets US$41.6m in Q1

REGIONAL insurer Sagicor Financial Corporation, which has thousands of Trinidad and Tobago customers and shareholders, on Friday declared US$41.6 million in net income for the three months ended March 31, 2021, after recording a net income loss of US$25.1 million for the same quarter in 2020.

The regional financial services company, which is headquartered in Barbados, reported US$431.4 million in total net revenue for the three months ended March 31, 2021, which was 25.7 per cent higher than for the same period in 2020.

The company’s total benefits were up by 25.8 per cent to US$255.4 million in 2021 from US$202.9 million in 2020.

Sagicor’s total expenses amounted to US$136.6 million, a decline of 10.6 per cent in 2021 from the US$152.8 million in 2020.

Sagicor said the main contributing factor to the financial performance during the three-month period was strong net investment income, including net gains from SFC’s direct investment in Playa Hotels and Resorts, which contributed US$26 million of net income to shareholders. As of Q1 2021, Playa is accounted for as an investment held at fair value through profit and loss and is no longer accounted for as an associate.

Commenting on Sagicor’s first-quarter performance, Dodridge Miller, the company’s president and CEO, said: “We are pleased with the performance of our company this quarter. We delivered meaningful revenue growth and strong net income to shareholders. Our results were positively impacted by strategic investments that supported the growth across all our main operating segments.

“The results from our first quarter reflect continued normalisation of our operations in our markets. While the global pandemic continues to affect lives around the world, and in particular several source countries of visitors to the Caribbean with uncertain resolution, we have pivoted well to working remotely where required, and remained nimble enough to make solid investments and take advantage of the recovery in the capital markets.

“After quarter end, we took advantage of favourable market conditions and were able to refinance our top company bonds with interest rate savings of over 3.5 per cent. The new notes have the overall effect of significantly lowering our cost of capital and providing us with additional liquidity for growth. Our capital position remains strong and we are well positioned to progress our strategic initiatives.”

Sagicor raised US$400 million of 5.300 per cent senior notes due May 13, 2028 last week.

The company said it would use part of the proceeds from the transaction to repurchase US$130 million aggregate principal amount of its 8.875 per cent senior notes due 2022 issued by its subsidiary Sagicor Finance (2015) Ltd.

Sagicor also intends to repurchase the remaining US$188 million of 2022 notes later this year using part of the proceeds. Sagicor expects to retain approximately US$70 million of net cash proceeds to be used for general corporate purposes.

Sagicor was listed on the Toronto Stock Exchange in December 2019. Its shares were delisted from the T&T Stock Exchange as at close of business on April 19.

The stock was delisted from the Barbados and London stock exchanges previously.

ALPHAMIN (AFM:TSXV, APH:JSE AltX),CONFIRMS HIGH GRADE TIN MINERALISATION ON EXPLORATION DRILLING AT MPAMA SOUTH


ALPHAMIN (AFM:TSXV, APH:JSE AltX),CONFIRMS HIGH GRADE TIN MINERALISATION ON EXPLORATION DRILLING AT MPAMA SOUTH – Toronto Stock Exchange News Today – EIN Presswire
























Trusted News Since 1995

A service for global professionals
·
Monday, May 17, 2021

·
541,310,342
Articles


·
3+ Million Readers

News Monitoring and Press Release Distribution Tools

News Topics

Newsletters

Press Releases

Events & Conferences

RSS Feeds

Other Services

Questions?




CGI expects to leverage Logica acquisition with Asia-Pacific expansion

MONTREAL – After more than doubling its size over the past five years, CGI Group expects to pursue new ways to leverage its acquisition of U.K.-based information technology provider Logica and expand its presence in the Asia-Pacific region.

The Montreal-based company will conduct planning sessions in June to map out its goals for the coming three years, but CEO Michael Roach said Wednesday that Asia will likely be a focus for expansion.

article continues below

“Our immediate focus in 2013 is the integration of Logica, but I think you can expect coming out of that planning session that we’ll continue to execute our build and buy strategy,” Roach said following CGI’s annual shareholder meeting.

CGI (TSX:GIB.A) has historically looked closely at acquisitions after understanding the players in a certain market from within, he said in an interview.

Logica’s purchase last year has not only dramatically boosted CGI’s revenues, but also provided a strategic business unit that’s a leader in the Asia-Pacific.

“In the longer term…Asia-Pacific is an area that would likely see more expansion in the future,” Roach said.

“I think we will be looking to be more focused on niche areas where we want to build out more scale in a particular geography or adding intellectual property or capabilities that our clients are looking for.”

Before the $2.7 billion deal that closed in August, CGI and Logica each relied on their home markets in North America and Europe respectively for 95 per cent of their business. Together, they have started to expand the relationship with clients in both geographies that operate internationally.

“We can follow them around the world now, which we couldn’t before,” Roach said, adding CGI retains the financial flexibility to fund an acquisition despite its heavy debt load — $2.96 billion, even after it was trimmed by $340 million.

He said the IT industry is consolidating very quickly as customers seek providers like CGI that can service their computer and communications infrastructure.

Earlier, Roach told analysts that the integration of Logica is running ahead of schedule while CGI continues to benefit from strong growth in the United States.

Integration costs, which mostly result from a reduction in staffing levels, have totalled $263 million to date. That’s two-thirds of CGI’s $400-million budget to achieve $300 million in annual synergies after three years.

CGI said its first-quarter revenues increased 147.5 per cent to $2.53 billion, slightly above analyst estimates.

“We have established and embedded in our budget the restructuring and transformation necessary to put us on a solid competitive footing and deliver 25 to 30 per cent EPS accretion (growth) this fiscal year, excluding acquisition-related and integration costs,” Roach said during a conference call with analysts.

About 75 per cent of its integration costs relate to severance and other employment-related expenses.

The company has shed a net 1,000 positions across its operations at the end of its first full quarter of incorporating Logica’s business, even after adding about 500 jobs in the United States.

Roach wouldn’t disclose how many jobs will be cut in Europe because he doesn’t want to hurt employee morale, but he said additional reductions will come.

CGI’s net income in the quarter was $22.4 million or seven cents per share, after including $153.4 million of costs related to the takeover. On an adjusted basis, CGI reported 44 cents per share of earnings for the quarter — a penny short of estimates compiled by Thomson Reuters.

A year earlier, CGI’s net income was $106.5 million or 40 cents per share, with $1.03 billion of revenue. The company issued 47 million shares with the Logica acquisition raising the total share count to 315 million shares.

Overall U.S. revenue increased by 20 per cent from the prior year, or 15 per cent excluding the contribution from Logica. Roach said it is benefiting from the ramp-up of Obamacare along with commercial contracts in several U.S. states.

While Canada represents a decreasing share of overall revenues and first-quarter revenues declined 3.9 per cent, Roach said it remains a very solid operation that can continue to grow. A corporate reorganization has made the head of CGI’s operations also responsible for Canada.

CGI is the world’s fifth-largest independent provider of computer, communications and other information technology services for large organizations.

During the quarter, it booked $2.8 billion in new contract wins, extensions and renewals, bringing the last 12-month booking total to $6.6 billion, or 106 per cent of revenue.

The strong results caused the company’s shares to increase more than nine per cent, or $2.22, to $26.51 in afternoon trading on the Toronto Stock Exchange.

Tom Liston of Cantor Fitzgerald raised his target price for CGI to $30.25 after describing the first-quarter results as solid with “robust bookings”, “healthy U.S. growth” and efforts by CGI that will likely result in improved Logica’s margins.

Besides its earnings report, CGI announced a renewed share buyback program. The company’s board has authorized CGI to repurchased up to 10 per cent of its public float — although management isn’t obliged to do so.

Last year, CGI spent an average of $20.68 per share for a total of $21.7 million to buy back about 1.1 million shares.

Digital Asset Payment Service Provider Banxa Integrates its Crypto to Fiat Gateway with Bancor

Banxa, an established payment service provider (PSP) for the crypto-asset sector, has reportedly integrated its crypto-to-fiat gateway with Bancor, a liquidity protocol enabling automated cross-chain swaps and liquidity provision to various digital tokens.

Through this latest integration, Bancor users will have the option to buy digital assets with fiat currencies directly through the bancor.network.

As mentioned in a release shared with Crowdfund Insider:

“As institutions enter the game and crypto begins to mesh with the broader world of finance, the need for liquidity in crypto investment and trading becomes more urgent. It shouldn’t take an hour and a PhD to set up a wallet, buy crypto, trade it, and convert back into fiat. Now Banxa and Bancor are working together to make crypto investment more seamless.”

The announcement further noted that the integration of Banxa’s crypto-to-fiat bridge will aim to empower Bancor clients to buy crypto-assets via the Bancor Network interface with fiat currencies, without being required to convert their fiat holdings into dollar-backed stablecoins, Bitcoin (BTC), or Ethereum (ETH). Crypto-assets directly available via the Bancor Network reportedly include BTC, Bitcoin SV (BSV), Chainlink (LINK), ETH, Litecoin (LTC), Tether (USDT), Binance USD (BUSD) and stablecoin USDC.

As noted in the release:

“Banxa is a payment-service provider and processor for digital assets partnering with different cryptocurrency exchanges, wallets, and decentralized finance (DeFi) platforms to enable their customerabes to purchase digital assets via multiple payment methods such as credit/debit card, Apple Pay, or bank transfer. Banxa has served crypto companies since 2014 and is listed on the Toronto Stock Exchange.”

Bancor, the crypto liquidity provider, is credited with inventing automated-market makers (AMMs) on the blockchain back in 2017, developing its decentralized exchange (DEX) into one of the most widely-used decentralized finance (DeFi) initiatives. Clients may trade crypto tokens and earn interest by “placing them on Bancor’s decentralized exchange.”

Domenic Carosa, Chairperson and Founder of Banxa, stated:

“As the market continues its record-breaking bull run, we are proud to have our technology integrated with a project like Bancor. Bancor Network provides a smooth, user-friendly interface for non-custodial trading of thousands of cryptocurrency pairs, and this integration enables easier onboarding for users who wish to transact from fiat currencies into their favorite tokens.”

Nate Hindman, Head of Growth at Bancor, remarked:

“We are really happy to be working with Banxa, who is a key player in the fiat-to-crypto bridge space. By partnering with Banxa, our existing users can simply and easily boost their positions. We are empowering a new generation of crypto users to enter the ecosystem.”

Centerra Gold stock falls after Kyrgyz Republic state firm says it will divest shares

CALGARY — The Kyrgyz Republic state company that owns 26 per cent of the shares of Canadian miner Centerra Gold Inc. says in a regulatory filing it intends to sell about 19 per cent of its holdings.

Centerra’s shares fell by as much as 6.5 per cent to $8.40 in trading on the Toronto Stock Exchange after the state company, Kyrgyzaltyn JSC, said it intended to sell 14.8 million of its 77.4 million Centerra shares.

Earlier this week, Centerra reported the Kyrgyz Republic Parliament had passed a law that would allow the government to impose “external management” of its Kumtor gold mine if the operating company, Kumtor Gold Co., violates certain Kyrgyz laws.

Centerra also said Kumtor Gold Co. was ordered by a Kyrgyz Republic court last week to pay more than US$3 billion in damages after a ruling that its past practice of placing waste rock on glaciers was illegal, adding it has received further tax assessments that add to claims worth hundreds of millions of dollars.

Centerra says it believes the actions are a concerted effort to coerce it to give up economic value or ownership of the Kumtor mine or to falsely justify a nationalization of the mine. It says it is committed to trying to work with Kyrgyz Republic authorities, but that it will not hesitate to use all legal avenues to protect its rights and interests.

In a report to investors, National Bank analyst Mike Parkin says he expects share prices will remain volatile as Centerra struggles to register its position in the ongoing dispute and considers its options with regard to the share sale.

This report by The Canadian Press was first published May 11, 2021.

Companies in this story: (TSX:CG)

The Canadian Press

The Kyrgyz leader has signed a law threatening to take the Kumtor gold mine to Canada News

The President of Kyrgyzstan has signed the law if the government allows him to take control of the largest gold mine if he sees that the Canadian operator of the facility has violated environmental regulations.

The move comes on Friday as authorities put pressure on Centerra Gold, a Canadian-based miner that controls the Kumtor gold mine, on suspicion that the company has committed more than $ 4 billion in environmental and tax violations.

Kumtor, a mine more than 4,000 meters above sea level in the east of the country, accounts for 10% of the national wireless economy.

Britain and Canada issued a joint statement warning of the “major implications of foreign direct investment in Kyrgyzstan” for the adoption of laws and the potential nationalization of the mine.

The center said last week that a law that allows for “external management” of the mine within three months violates the 2009 agreement governing the mine and that the legal claims against the company are called “fully substantiated”.

It is unclear what would happen after the three months of external management that the government can now impose.

The terms of the company’s agreement with the government allow for the international arbitration of unresolved disputes in the country.

The head of the state commission investigating the mine violations on Wednesday announced a $ 1 billion claim for tax violations against the company.

That was when a court imposed more than $ 3 billion on the company’s Kyrgyz subsidiary for dumping mining debris into glaciers.

Kyrgyzstan, a poor mountainous country with few natural resources, has regularly complained that the Center, a company listed on the Toronto Stock Exchange and Kyrgyzstan, has more than a quarter, accusing it of switching to Kumtor.

After being released from prison in a political crisis, President Sadyr Japarov seized sudden control of the Center last October.

As an opposition politician, Japarov made an unsuccessful bid to nationalize the mine, both in parliament and on the street, where he oversaw some chaotic rallies against the company.

At one of those rallies in 2013, a provincial governor was kidnapped – accused of taking the kidnapping in 2017 when Japarov was arrested and the development was the basis for a prison sentence of more than 11 years.

Kyrgyz leader signs law threatening Kumtor gold mine takeover

Move allows gov’t to take control of the country’s largest gold mine if Centerra Gold violates environmental standards.

Kyrgyzstan’s president has signed a law that allows the government to seize control of its largest gold mine if the facility’s Canadian operator is found to have violated environmental standards.

The move on Friday comes as authorities ratchet up pressure on Centerra Gold, the Canada-headquartered miner that controls the Kumtor gold mine by claiming the company has committed environmental and tax violations worth more than $4bn.

Kumtor, a mine situated in the east of the country at more than 4,000 metres (13,100 feet) above sea level, accounts for up to 10 percent of the threadbare national economy.

Britain and Canada on Friday issued a joint statement warning of “far-reaching implications for foreign direct investment in Kyrgyzstan” over the passage of the law and the potential nationalisation of the mine.

Centerra said last week that the law, which allows for “external management” of the mine for a three-month period, violates the 2009 agreement that governs the mine and calls legal claims against the company “entirely meritless”.

It is not clear what would happen after the end of the three months of external management that the government can now choose to impose.

The terms of the company’s agreement with the government allow for international arbitration of any disputes that cannot be settled in the country.

The head of a state commission investigating violations at the mine announced on Wednesday a claim of more than $1bn in tax violations against the company.

That came after a court fined the company’s Kyrgyz subsidiary more than $3bn for dumping mining waste on glaciers.

Kyrgyzstan, a poor, mountainous country with few natural resources, has regularly accused Centerra, a Toronto Stock Exchange-listed company of which Kyrgyzstan owns more than a quarter, of shortchanging it over Kumtor.

President Sadyr Japarov’s sudden rise to power last October after getting freed from jail during a political crisis was particularly bad news for Centerra.

As an opposition politician, Japarov led an unsuccessful bid to nationalise the mine both inside parliament and on the streets, where he oversaw several chaotic rallies against the company.

During one of these rallies in 2013 a provincial governor was kidnapped – a development that formed the basis for the 2017 arrest and sentencing of Japarov to more than 11 years in jail on hostage-taking charges.

Aurora Cannabis Stock Falls Amid Losses In Q3, Announces Transfer To Nasdaq

Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB) stock plunged after hours Thursday when the company reported a drop in recreational cannabis revenue, missing estimates.

The Edmonton, Alberta-based cannabis company revealed a 19.5% year-over-year and 17% sequential decline in revenue to CA$58.4 million ($48.1 million), before provisions, in the third quarter of 2021.

Aurora also posted a negative adjusted EBITDA of CA$24 million, versus a CA$49.6 million loss in the same quarter of 2020.

In addition, the company reported a CA$164.7 million net loss from operations, compared to CA$133.5 million in the corresponding period of last year.

Aurora revealed a quarterly loss of 24 cents per share compared to the Zacks Consensus Estimate of 17 cents loss.

Medical cannabis net revenue increased by 17% year-over-year, reaching CA$36.4 million – reflecting the shift to Aurora’s medical business – including CA$26.9 million in domestic and CA$9.4 million in international medical net revenue.

During the quarter, the average net selling price per gram of dried cannabis rose to CA$5 per gram from CA$4.64 in the corresponding quarter of last year and CA$4.45 in the prior period.

“We delivered the strongest performance in domestic medical and the best results in international medical cannabis of any Canadian LP during the period,” Miguel Martin, CEO of Aurora Cannabis, said.

Other highlights from the company’s third-quarter report include:

  • Adjusted gross margin before fair value adjustments on cannabis net revenue was 44%.
  • Consumer cannabis net revenue amounted to CA$18 million, (CA$21.3 million excluding provisions), representing a year-over-year decline of 53%.
  • Adjusted gross margin before fair value adjustments on consumer cannabis net revenue was 21%.
  • Selling, general, and administrative expenses totaled CA$45.1 million (CA$41.9 million), excluding restructuring costs, down by 42% year-over-year.
  • As of May 12, the company had roughly CA$525 million in cash.

Business Transformation Plan, Debut On NASDAQ And New Appointments

After a rocky year, the Canadian cannabis producer continued with the execution of its Business Transformation Plan launched in February 2020.

Aurora Cannabis intends to accelerate CA$60 million to CA$80 million in annualized cost efficiencies, including CA$40 million – CA$60 million in costs of goods sold and roughly CA$20 million in selling, general and administrative expenses.

Following the market close on May 24, Aurora will transfer to the Nasdaq Global Select Market from the New York Stock Exchange. 

The company also tapped Ronald Funk, lead independent director and a PG expert, to serve as chairman, replacing Michael Singer, who will continue to serve as a board member.

In addition, Alex Miller opted to join the company’s leadership team as executive vice president of the supply chain. Lori Schick followed suit, agreeing to assume the role of executive vice president of human resources.

ACB Price Action: Aurora Cannabis shares were trading 8.74% lower at $6.68 at last check Friday.

Photo Source: CNW Group/Aurora Cannabis Inc.

Platinum Group Metals Ltd. Reports Court Application Opposing Environmental Authorization

Article content

Vancouver, British Columbia and Johannesburg, South Africa–(Newsfile Corp. – May 13, 2021) –  Platinum Group Metals Ltd. (TSX: PTM) (NYSE American: PLG) (“Platinum Group” or the “Company”) has received notice that a group from the Kgatlu Community (the “Applicants”), located near planned surface infrastructure associated with the Waterberg Mine, has filed an application for an order in the High Court of South Africa (the “High Court”) to review and set aside the decision by the Minister of Environment, Forestry and Fisheries (the “DE”) to dismiss an application for condonation for the late filing of an appeal by the Applicants against the Environmental Authorization granted for the Waterberg Mine on November 10, 2020. The Applicants further request that cause be shown as to why the Environmental Authorization granted by the Minister of the DE and the Minister of Mineral Resources and Energy (the “DMR”) should not be set aside and referred back to the said ministers for further consideration. The grant of an Environmental Authorization was a prerequisite to the grant of the Waterberg Mining Right by the DMR, which occurred on January 28, 2021. The Company believes that all requirements specified under the National Environmental Management Act, the Mineral and Petroleum Resources Development Act and other applicable legislation has been complied with and that the DE correctly approved and DMR correctly issued the Environmental Authorization. As an interested and affected party, and as a named respondent to the filed court action, Waterberg JV Resources (Pty) Ltd is accordingly opposing the application to the High Court. The Waterberg mining right currently remains active, was notarially executed by the DMR on April 13, 2021 and has been filed for registration.

Advertisement

Story continues below

This advertisement has not loaded yet, but your article continues below.

Article content

The Company intends to continue our consultation with the DMR and recognized local authorities and community representatives on our plans for the Waterberg site.

About Platinum Group Metals Ltd. and Waterberg Project

Platinum Group Metals Ltd. is the operator and majority owner of the Waterberg Project, a bulk underground palladium, platinum, gold and rhodium deposit located in South Africa. The Waterberg Project was discovered by Platinum Group and is being jointly advanced with the shareholders of Waterberg JV Resources (Pty) Ltd. (“Waterberg JV Co.”), being Platinum Group, Impala Platinum Holdings Ltd., Japan Oil, Gas and Metals National Corporation, Hanwa Co. Ltd. and Mnombo Wethu Consultants (Pty) Ltd. (“Mnombo”).

In 2019, the Company founded Lion Battery Technologies Inc. in partnership with Anglo American Platinum Limited to support the use of palladium and platinum in lithium battery applications.

On behalf of the Board of
Platinum Group Metals Ltd.

R. Michael Jones
President and CEO

For further information contact:
R. Michael Jones, President
or Kris Begic, VP, Corporate Development
Platinum Group Metals Ltd., Vancouver
Tel: (604) 899-5450 / Toll Free: (866) 899-5450
www.platinumgroupmetals.net

Disclosure

The Toronto Stock Exchange and the NYSE American have not reviewed and do not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management.

Advertisement

Story continues below

This advertisement has not loaded yet, but your article continues below.

Article content

The recent COVID-19 pandemic and related measures taken by government create uncertainty and have had, and may continue to have, an adverse impact on many aspects of the Company’s business, including employee health, workforce productivity and availability, travel restrictions, contractor availability, supply availability, the Company’s ability to maintain its controls and procedures regarding financial and disclosure matters and the availability of capital and insurance and the costs thereof, some of which, individually or when aggregated with other impacts, may be material to the Company.

This press release contains forward-looking information within the meaning of Canadian securities laws and forward-looking statements within the meaning of U.S. securities laws (collectively “forward-looking statements”), including statements regarding the application for an order of the High Court and appeal of the mining right; the applicable procedures, timeline and potential results thereof; the development of the Waterberg project and the potential benefits and results thereof; the Company’s intentions for future consultations; the potential use of palladium and platinum in lithium battery applications; and the Company’s other future plans and expectations. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Although the Company believes any forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct.

Advertisement

Story continues below

This advertisement has not loaded yet, but your article continues below.

Article content

The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including possible adverse impacts due the global outbreak of COVID-19 (as described above), the Company’s inability to generate sufficient cash flow or raise sufficient additional capital to make payment on its indebtedness, and to comply with the terms of such indebtedness; additional financing requirements; the US $20 million senior secured facility with the Sprott Private Resource Lending II (Collector), LP (“Sprott”) entered into August 21, 2019 (the “2019 Sprott Facility”) is, and any new indebtedness may be, secured and the Company has pledged its shares of Platinum Group Metals (RSA) (Pty) Ltd. (“PTM RSA”), and PTM RSA has pledged its shares of Waterberg JV Co. to Sprott, under the 2019 Sprott Facility, which potentially could result in the loss of the Company’s interest in PTM RSA and the Waterberg Project in the event of a default under the 2019 Sprott Facility or any new secured indebtedness; the Company’s history of losses and negative cash flow; the Company’s ability to continue as a going concern; the Company’s properties may not be brought into a state of commercial production; uncertainty of estimated production, development plans and cost estimates for the Waterberg Project; discrepancies between actual and estimated mineral reserves and mineral resources, between actual and estimated development and operating costs, between actual and estimated metallurgical recoveries and between estimated and actual production; fluctuations in the relative values of the U.S. Dollar, the Rand and the Canadian Dollar; volatility in metals prices; the uncertainty of alternative funding sources for Waterberg JV Co.; the Company may become subject to the U.S. Investment Company Act; the failure of the Company or the other shareholders to fund their pro rata share of funding obligations for the Waterberg Project; any disputes or disagreements with the other shareholders of Waterberg JV Co. or Mnombo; the ability of the Company to retain its key management employees and skilled and experienced personnel; conflicts of interest; litigation or other administrative proceedings brought against the Company, including the appeal of the mining right; an adverse decision on the appeal on the Mining Right could delay or prevent the Company from having the mining right reinstated and developing the Waterberg Project; actual or alleged breaches of governance processes or instances of fraud, bribery or corruption; exploration, development and mining risks and the inherently dangerous nature of the mining industry, and the risk of inadequate insurance or inability to obtain insurance to cover these risks and other risks and uncertainties; property and mineral title risks including defective title to mineral claims or property; changes in national and local government legislation, taxation, controls, regulations and political or economic developments in Canada and South Africa; equipment shortages and the ability of the Company to acquire necessary access rights and infrastructure for its mineral properties; environmental regulations and the ability to obtain and maintain necessary permits, including environmental authorizations and water use licences; extreme competition in the mineral exploration industry; delays in obtaining, or a failure to obtain, permits necessary for current or future operations or failures to comply with the terms of such permits; risks of doing business in South Africa, including but not limited to, labour, economic and political instability and potential changes to and failures to comply with legislation; the Company’s common shares may be delisted from the NYSE American or the Toronto Stock Exchange if it cannot maintain compliance with the applicable listing requirements; and the other risk factors described in the Company’s Form 20-F annual report, annual information form and other filings with the Securities and Exchange Commission and Canadian securities regulators, which may be viewed at www.sec.gov and www.sedar.com, respectively.

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/84003

Comments

Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Comments may take up to an hour for moderation before appearing on the site. We ask you to keep your comments relevant and respectful. We have enabled email notifications—you will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. Visit our Community Guidelines for more information and details on how to adjust your email settings.

Earn While You Listen on GazeTV.com. The Official Gramatik Channel Is Now Available.


Earn While You Listen on GazeTV.com. The Official Gramatik Channel Is Now Available. – Toronto Stock Exchange News Today – EIN Presswire
























Trusted News Since 1995

A service for global professionals
·
Friday, May 14, 2021

·
541,134,549
Articles


·
3+ Million Readers

News Monitoring and Press Release Distribution Tools

News Topics

Newsletters

Press Releases

Events & Conferences

RSS Feeds

Other Services

Questions?




Copyright © 2019. TSX Stocks
All Rights Reserved