Southern Silver Initiates Drilling and Baseline Data Collection and Related Studies at its Cerro Las Minitas Project in MexicoNovember 18, 2024 7:30 AM EST | Source: Southern Silver Exploration Corp.Vancouver, British Columbia--(Newsfile Corp. - November 18, 2024) - Southern Silver Exploration Corp. (TSXV: SSV) (OTCQX: SSVFF) ("Southern Silver" or the "Company") reports that drilling has commenced on its 100% owned Cerro Las Minitas, Ag-Pb-Zn property, located in Durango, Mexico. Up to 6,000m ...

GADSDEN, Ala., Nov. 15, 2024 (GLOBE NEWSWIRE) -- The Southern Banc Company, Inc. (OTCBB: SRNN), the holding company for The Southern Bank Company, formerly First Federal Savings and Loan Association of Gadsden, Alabama, announced a net income of approximately $176,000, or $0.23 per basic and diluted share, for the quarter ended September 30, 2024, as compared to a net income of approximately $367,000, or $0.48 per basic and diluted share, for the quarter ended September 30, 2023. Gates Little, President and ...

Norfolk Southern and activist Ancora struck a deal to avert a second proxy fight in as many years, the railroad announced Thursday morning.Norfolk's board will expand from 13 members to 14 members as part of the settlement, the railroad said. An unspecified candidate will join the railroad's board after a search process, the company said. Ancora had nominated four candidates to Norfolk's board in anticipation of an eventual proxy fight but withdrew those candidates as part of the cooperation agreement.Ancor ...

ATLANTA, Nov. 14, 2024 /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) ("Norfolk Southern" or the "Company") today announced that it has entered into a cooperation agreement with Ancora Holdings Group, LLC (together with certain of its affiliates, "Ancora") after constructive engagement. Under the terms of the agreement, Norfolk Southern and Ancora will work together to identify an independent director to join the Company's Board of Directors (the "Board"). The addition of the new director, who is ...

Norfolk Southern’s (NSC) proactive cost-cutting initiatives are boosting operational efficiency. However, NSC is grappling with economic uncertainties and lackluster liquidity, adversely impacting the company’s operations.Factors Favoring NSCNorfolk Southern's strong commitment to safety bodes well for the company. While the FRA personal injury rate has increased, the company has made significant strides in reducing serious injuries and total accidents, with declines of 40% and 20%, respectively. This refle ...

Core Insights - Georgia Power has launched its first grid-connected battery energy storage system (BESS) at the Mossy Branch facility, which has a capacity of 65 megawatts (MW) and can supply energy back to the grid for four hours, enhancing the resilience of Georgia's electric grid [1][3][4] Group 1: Project Overview - The Mossy Branch Battery Energy Storage System was approved by the Georgia Public Service Commission as part of Georgia Power's 2019 Integrated Resource Plan (IRP) [3] - The facility is designed to connect directly with the electric grid, allowing it to charge and discharge energy efficiently [2][3] - The project aims to improve the reliability of the electric system and support renewable energy resources by storing excess energy for later use [3] Group 2: Strategic Importance - Kim Greene, Georgia Power's CEO, emphasized the importance of battery energy storage in making the grid more reliable, especially during extreme weather events [4] - The Mossy Branch facility represents a significant milestone in Georgia Power's collaboration with the Georgia PSC to enhance the state's power grid [4] Group 3: Future Developments - Georgia Power is actively developing additional BESS projects, including a 265 MW project in Cherokee County expected to be operational by the end of 2026 [5] - The company plans to procure an additional 1,000 MW of battery energy storage through competitive bidding processes in the coming years [6] - Recently announced projects include 500 MW of new BESS, with specific capacities located near military bases and other strategic sites [6]

Core Insights - Alan McIntyre has been appointed as the Vice President of Engineering and Operations at Southern Linc, where he will lead a team focused on providing reliable wireless voice and data services for Southern Company and government customers [1][2]. Leadership and Experience - McIntyre brings 30 years of experience in wireless telecommunications, having previously served as Engineering Director at Southern Linc, where he oversaw the LTE technology transformation and the construction of two geographically redundant core data centers and 1,300 LTE cell sites [3]. - His contributions include the installation of VoLTE and mission-critical push-to-talk (MCPTT) sub-systems, facilitating thousands of conversions of voice and data devices to LTE [3]. Industry Contributions - McIntyre has significant expertise in wireless spectrum management, having participated in FCC proceedings that provided Southern Linc with contiguous spectrum and enabled broadband operations [4]. - He was also involved in auction teams that successfully acquired licenses in multiple FCC-conducted spectrum auctions [4]. Educational Background - McIntyre holds a Bachelor's degree in Electrical Engineering and an MBA in Management Information Systems from Auburn University, where he has served on the board advising the Wireless Engineering Research and Education Center since 2017 [5]. Company Overview - Southern Linc is a subsidiary of Southern Company, providing secure LTE voice and data services to electric utilities and various businesses and public sector agencies across Alabama, Georgia, and southeastern Mississippi [6]. - The CriticalLinc™ network offers over-the-air encryption from devices to towers and supports encryption from towers to the network's core data centers [6].

Group 1 - The sector has underperformed the S&P 500 by more than 90 points over the past ten years [1] - Year-to-date performance of the sector is a remarkable 29%, making it one of the best-performing sectors [1]

Financial Data and Key Metrics Changes - For Q3 2024, adjusted earnings were $1.43 per share, a $0.01 increase from Q3 2023, driven by investments in state-regulated utilities and customer growth, offset by higher interest, depreciation, and operating expenses [15][16] - For the nine months ended September 30, 2024, adjusted earnings per share were $3.56, compared to $3.01 for the same period in 2023, influenced by weather-related impacts [16] - The adjusted EPS estimate for Q4 is $0.49, leading to a projected full-year adjusted earnings of $4.05 per share [17] Business Line Data and Key Metrics Changes - Weather-normalized total retail electricity sales were flat compared to Q3 2023, with a 0.4% negative impact from Hurricane Helene [17] - Strong electricity sales were noted in the chemical, pipeline, and transportation segments, with data center power usage up 10% year-over-year [18] - Residential customer additions included 12,000 in electric businesses and 7,000 in natural gas distribution [19] Market Data and Key Metrics Changes - Economic development in electric service territories was robust, with 42 companies establishing or expanding operations, generating over 5,000 potential new jobs and approximately $2.6 billion in capital investments [20] - Alabama Power experienced its strongest quarter in years, driven by announcements in metals, renewable energy, and chemicals [21] Company Strategy and Development Direction - The company is positioned to benefit from projected energy demand growth, supported by disciplined planning and regulatory processes [24] - The focus remains on maintaining a disciplined approach while exploring growth opportunities in the energy sector [40][70] Management's Comments on Operating Environment and Future Outlook - Management expressed pride in the team's response to Hurricane Helene and emphasized the importance of community commitment [5][11] - The company is optimistic about future growth, with a focus on long-term planning and regulatory alignment [24][92] Other Important Information - The estimated cost for storm-related restoration and rebuild from Hurricane Helene is approximately $1.1 billion, with potential changes as actual costs are finalized [13][14] - The company has deferred all storm costs, with a process in place for recovery through regulatory channels [27] Q&A Session Summary Question: Will all storm costs be deferred and what is the recovery process? - All costs have been deferred, and the recovery process will be determined by regulatory decisions, which have historically been constructive [26][27] Question: How has the load growth pipeline developed in Georgia? - The pipeline has seen commitments grow from 3,600 megawatts to 8,000 megawatts, indicating strong momentum [30] Question: Are there opportunities for Southern Power to extend contracts? - There is interest in renewing contracts as they approach expiration, with potential for improved returns [36][40] Question: What is the typical cash recovery lag for storm costs? - Recovery periods have historically ranged from a couple of years to six years, depending on the storm's magnitude [45] Question: What is the company's perspective on nuclear technology? - The company is engaged in research on SMR technology but emphasizes the need for risk mitigation before moving forward [80][84] Question: How long would it take to build new gas generation? - Generally, it takes three to five years to develop gas generation from concept to operation, with the company well-positioned for future projects [88][89] Question: How will storm cost deferrals impact customer bills? - The objective is to ensure that costs are recovered in a manner that benefits existing customers [72][94]

Earnings and Financial Performance - Southern Company's Q3 2024 earnings per share (EPS) as reported was $1.40, compared to $1.30 in Q3 2023[10] - Year-to-date (YTD) 2024 EPS as reported was $3.53, compared to $2.86 in YTD 2023[10] - Excluding certain items, adjusted EPS for Q3 2024 was $1.43, slightly up from $1.42 in Q3 2023[10] - YTD 2024 adjusted EPS was $3.56, compared to $3.01 in YTD 2023[10] - The company projects a full-year 2024 adjusted EPS of $4.05[13] Hurricane Helene Impact - Hurricane Helene caused significant damage to Georgia Power's infrastructure, breaking over 11,800 power poles and downing over 1,500 miles of power lines[9] - The storm resulted in 1.5 million total outages, with 523,000+ customers restored within the first 48 hours and 95% restored within 8 days[9] - The company mobilized over 20,000 personnel for restoration efforts[9] - The hurricane had an estimated impact of -0.4% on total retail sales for the quarter[14] Sales and Customer Growth - The company experienced robust customer growth in Q3 2024, with an increase of 12,000 residential electric customers and 7,000 residential gas customers[14] - Usage by existing data centers within the commercial class increased by 10% for the quarter compared to 2023[14] - YTD 2024 retail electric sales increased by 5.4% for residential and 3.7% for commercial customers[16] Capital Expenditures and Financing - The company projects $48 billion in capital expenditures from 2024-2028, with $38.7 billion for state-regulated electric and $8.5 billion for state-regulated gas[17] - Total long-term debt issuances are projected at $11.9 billion for 2024R-2026[23] - Total equity financings are projected at $350 million for 2024 and $814 million for 2024R-2026[23] - The company has over $7.9 billion in committed credit facilities and nearly $6.7 billion in available liquidity as of September 30, 2024[27]