BMO to Acquire Burgundy Asset Management
Prnewswire· 2025-06-19 11:45
Core Viewpoint - BMO Financial Group is acquiring Burgundy Asset Management Ltd. to enhance its wealth management capabilities, particularly for high-net-worth and ultra-high-net-worth clients, with the transaction expected to close by the end of 2025 [1][2][3]. Company Overview - BMO Financial Group is the seventh largest bank in North America, with total assets of $1.4 trillion as of April 30, 2025, and has a long history of providing a wide range of financial services [13]. - Burgundy Asset Management, founded in 1990, is a respected independent investment manager with approximately $27 billion in assets under management as of May 31, 2025, serving high-net-worth individuals and institutions [12]. Transaction Details - The acquisition price for Burgundy is approximately $625 million, to be paid in BMO common shares, including a $125 million holdback contingent on asset retention [3]. - An earn-out component may be included based on the achievement of specific growth targets post-acquisition [3]. Strategic Implications - The acquisition is expected to strengthen BMO's position in the Canadian Investment Counsel space and enhance its offerings for high-net-worth clients, building on its recognition as Canada's Best Private Bank for Ultra-High-Net-Worth clients [2][4]. - Burgundy will continue to operate under its brand within BMO Wealth Management, with its current leadership remaining in place [4][5].
The More It Drops, The More I Buy: BrightSpire Capital
Seeking Alpha· 2025-06-19 11:35
Group 1 - The article emphasizes the importance of creating a portfolio that generates income without the need for selling assets to fund retirement dreams [1] - It addresses a common misconception among newer investors and retirees that they need to act quickly and make rapid decisions regarding their investments [2] - The service offers features such as model portfolios with buy/sell alerts, preferred and baby bond portfolios for conservative investors, and regular market updates, focusing on community and education [3] Group 2 - The article mentions that recommendations are closely monitored, and buy/sell alerts are exclusive to members, indicating a proactive approach to investment management [5]
Samsung aims to catch up to Chinese rivals for thin foldable phones as Apple said to enter the fray
CNBC· 2025-06-19 11:34
Samsung launched the Galaxy Z Fold6 at its Galaxy Unpacked event in Paris. The tech giant said the foldable device is thinner and lighter than its predecessor.Samsung will unveil a thinner version of its flagship foldable smartphone at a launch likely set to take place next month, as it battles Chinese rivals to deliver the slimmest devices to the market.Folding phones, which have a single screen that can fold in half, came in focus when Samsung first launched such a device in 2019. But Chinese players, in ...
Correction: Net Asset Value(s)
Globenewswire· 2025-06-19 11:31
Core Points - The news release titled "Foresight Ventures VCT Plc, NAV announcement" published on 17 June 2025 is to be disregarded [1] Company Information - The announcement was made by Foresight Group, and inquiries can be directed to Gary Fraser at the provided contact number [1]
Noble Plains Uranium Secures Duck Creek Project in Heart of Powder River Basin Uranium District
Newsfile· 2025-06-19 11:30
Core Insights - Noble Plains Uranium Corp. has secured an option agreement to acquire an 80% interest in the Duck Creek Project, located in Wyoming's Powder River Basin, a significant area for uranium production [1][4][10] - The Duck Creek Project spans 4,133 acres and is surrounded by major in-situ recovery (ISR) uranium operations, enhancing its strategic value [2][3] - Historical drilling data indicates a 3-mile uranium trend with 4,068 drill holes outlining a consistent, shallow roll-front uranium system [3][4] Company Overview - Noble Plains Uranium focuses on acquiring and advancing U.S.-based uranium projects that are suitable for ISR, which is recognized as a capital-efficient and environmentally responsible extraction method [14] - The company aims to rapidly delineate NI 43-101 resources and build a pipeline of ISR development opportunities [14] Project Details - The Duck Creek Project includes 78 lode mining claims and four mineral leases, with significant historical drilling conducted by Kerr-McGee Nuclear Corporation in the 1970s [3][4] - The project shows potential for both near-term development and exploration upside, particularly in the untested deeper Fort Union Formation [4] Strategic Context - Wyoming has produced over 238 million pounds of uranium since the 1950s, with the Powder River Basin being a key district for this production [9] - ISR is the dominant extraction method in the region, allowing for faster permitting and lower environmental impact, aligning with Noble Plains' strategy [9] Transaction Terms - The agreement allows Noble Plains to acquire the 80% interest over three years, with initial payments including US$250,000 and the issuance of shares [11][12] - The transaction is subject to approval by the TSX Venture Exchange [12][18]
Canadian Gold Corp. Private Placement Offering for New Hammond Reef South Program to Follow up 2024 Surface Samples That Returned 35.4 g/t Gold
Newsfile· 2025-06-19 11:30
Core Points - Canadian Gold Corp. plans a follow-up program on the newly discovered high-grade gold zone at Hammond Reef South, which returned surface samples of 35.4 g/t and 7.1 g/t gold [2][3] - The Hammond Reef South property was acquired in 2023 to enhance the company's mineral rights around major Canadian mines, with a mineralization stock work vein system identified [3][12] - The 2025 program will include surface work and a geophysical program to evaluate the gold system's extent and refine drilling targets [4] Company Strategy - The company aims to expand its high-grade gold resource at the Tartan Mine and holds interests in properties adjacent to significant gold mines in Canada [12] - A private placement offering of up to 859,375 flow-through common shares at $0.32 per share is planned to fund the program, potentially raising up to $275,000 [5][6] Geological Context - The Hammond Reef South property is located near Agnico Eagle's Hammond Reef Project, which has over 5 million ounces of gold in mineral resources [2][12] - The identified vein system has a minimum strike length of 80 meters and widths up to 20 meters, with significant gold grades reported from channel samples [3][4]
CanAlaska Announces Results from Property-Wide Airborne Surveys on 16,000 Hectare Frontier Project
Newsfile· 2025-06-19 11:30
Core Insights - CanAlaska Uranium Ltd. announced results from airborne geophysical surveys on its 100%-owned Frontier Project, identifying multiple priority exploration target zones [1][9] - The surveys aimed to identify basement conductors, characterize lithological variations, and refine areas for future drilling [1][9] - The Frontier Project is strategically located in the northeastern Athabasca Basin, near significant uranium deposits and infrastructure [1][9] Survey Details - The VTEM Plus survey covered 931 line-km with a 200-meter line spacing, followed by a high-resolution magnetic and radiometric survey covering 3,739 line-km at 50-meter line spacing [6][9] - The surveys were conducted by Geotech Ltd. and managed by Condor Consulting, Inc. [6][9] - Data processing involved 3D magnetic inversions and GeoInterp analysis, leading to the identification of target zones associated with structural features [7][9] Target Zones - A prominent 25-kilometer-long magnetic low corridor, termed the Roughrider Mineralized Corridor, was highlighted, hosting multiple uranium deposits [3][4] - The highest priority target zones are linked to magnetic low structural corridors and cross-cutting fault features [8][9] - Historical data indicated a significant uranium anomaly at the Point Lake Anomaly, with a sample returning 34.7 ppm uranium [8][9] Strategic Importance - The airborne surveys represent a critical step in CanAlaska's exploration strategy for tier 1 basement-hosted uranium deposits [9] - The company is actively seeking joint venture partners to advance the Frontier Project to the next exploration stage [9][10] - The CEO emphasized the compelling nature of the exploration targets and the strengthening uranium market, suggesting increased interest from explorers [10] Stock Options and Investor Relations - CanAlaska granted stock options to directors, officers, and consultants for a total of 6,060,000 common shares at a price of $0.88 per share [11] - The company extended its investor relations agreement with Rayleigh Capital Ltd. until December 31, 2025, for a monthly fee of $8,500 [12]
U.S. Energy: Inching Closer To Helium Production
Seeking Alpha· 2025-06-19 11:30
Core Viewpoint - U.S. Energy Corp. is advancing its development of an industrial gas processing plant with a finalized capacity of 17 MMCF, expected to be operational soon [1]. Company Summary - The industrial gas processing plant being constructed by U.S. Energy Corp. is a significant step in its development strategy [1]. - The finalized capacity of the plant is 17 million cubic feet per day (MMCF) [1]. Industry Context - The construction of gas processing facilities is crucial for enhancing the efficiency and output of energy production in the sector [1].
Westhaven Commences Summer Drill Program On The Shovelnose Gold Project, Southern British Columbia
Globenewswire· 2025-06-19 11:30
Core Viewpoint - Westhaven Gold Corp. has initiated a 5,000-meter exploration drilling program at its Shovelnose gold project, aiming to identify new areas of low sulphidation epithermal gold mineralization in the Spences Bridge Gold Belt of Southern British Columbia [1][2]. Group 1: Exploration and Drilling Plans - The summer exploration at Shovelnose is focused on testing several 'step change' target areas to discover new gold mineralization that would enhance existing deposits [2]. - The drilling program includes plans to complete at least one drill hole for additional geotechnical, geochemical, and metallurgical data on Vein Zones 1, 2, and 3 within the South Zone [2]. Group 2: Project Overview and Economic Assessment - Westhaven Gold Corp. controls approximately 61,512 hectares in the Spences Bridge Gold Belt, with the Shovelnose Gold project being the most advanced property [4]. - The recently updated 2025 Preliminary Economic Assessment indicates the potential for a robust, low-cost, high-margin underground gold mining opportunity, with an average annual life-of-mine gold production of 56,000 ounces [4]. - The project has an after-tax NPV at 6% of Cdn$454 million and an IRR of 43.2%, based on base case parameters of US$2,400 per ounce gold and US$28 per ounce silver [4]. - Initial capital costs are projected at Cdn$184 million, with a payback period of 2.1 years [4]. Group 3: Company Leadership and Contact Information - Ken Armstrong serves as the President and CEO of Westhaven Gold Corp. and is responsible for the news release [3]. - For further inquiries, the company can be contacted at 604-681-5558 or through their website [5].
Base Carbon Announces Renewal of Normal Course Issuer Bid
Globenewswire· 2025-06-19 11:30
Core Viewpoint - Base Carbon Inc. has announced the renewal of its normal course issuer bid (NCIB) to repurchase up to 6,659,310 common shares, reflecting the company's strategy to enhance shareholder value and manage its capital effectively [1][5]. Summary by Sections NCIB Details - The renewed NCIB program will commence on June 23, 2025, and will last for 12 months, concluding on June 22, 2026 [3]. - Under the current NCIB, as of June 17, 2025, the company has repurchased 7,127,736 shares at an average price of $0.4722, which is 94.1% of the authorized 7,571,314 shares [2]. - Since the initiation of its share repurchase strategy, the company has bought back a total of 19,245,694 shares at an average price of $0.4567, resulting in a 15.1% reduction in shares outstanding since June 17, 2022 [2]. Purchase Mechanics - The company may purchase up to 69,082 shares on any given day during the new NCIB, which is 25% of the average daily trading volume of 276,330 shares over the past six months [3]. - Block trades for a greater number of shares may occur once per calendar week [3]. - Purchases will be conducted in accordance with Cboe Canada's rules and will be returned to treasury for cancellation [4]. Strategic Rationale - The Board of Directors believes that the market price of the shares may not reflect the underlying value of Base Carbon, including its growth opportunities, and that the share repurchase is in the best interests of the company [5]. - An automatic share purchase plan (ASPP) has been established to facilitate repurchases during periods when the company cannot trade due to insider trading rules [6]. Company Overview - Base Carbon is focused on financing projects in the global voluntary carbon markets, aiming to be a preferred partner in carbon removal and abatement projects [7].