Summary of Americas Gold and Silver Conference Call Company Overview - **Company**: Americas Gold and Silver (NYSEAM:USAS) - **Primary Asset**: Galena Complex in Idaho, USA - **Other Assets**: Cosalá Mine in Mexico, Relief Canyon, and San Felipe exploration asset Key Points and Arguments 1. **Management Team**: The company emphasizes the importance of a skilled management team with a strong track record in mining operations and turnaround strategies [2][3][4] 2. **Turnaround Expertise**: Americas Gold and Silver is recognized as a turnaround expert, having successfully revitalized struggling mining assets in the past [2][4] 3. **Historical Success**: Previous successes include Klondex Mines sold for $700 million and RNC Minerals sold for $1.3 billion, showcasing the team's ability to enhance asset value [3][4] 4. **Galena Complex**: The Galena Complex has a rich mining history and is positioned in a premier silver mining area, with a production goal of returning to 5 million ounces of silver per year [8][9][10] 5. **Infrastructure Value**: The existing infrastructure at Galena is valued at over $2 billion, which provides a significant advantage for future operations [10] 6. **Production Capacity**: The company plans to increase the hoisting capacity from 350 tons per day to 900 tons per day, which will enhance mill feed and overall production [11][12] 7. **Mining Method Changes**: Transitioning from underhand cut and fill to long-hole stoping is expected to improve efficiency and production rates [12][13] 8. **Resource Endowment**: Galena has over 170 million ounces of silver, with plans to compress mine life by increasing production beyond 5 million ounces per year [14][15] 9. **High-Grade Mining**: The current head grades are around 480 grams per tonne silver, with aspirations to return to historical grades of 700 grams per tonne [15][17] 10. **Byproduct Revenue**: The renegotiated offtake agreement with Teck Resources allows the company to receive payments for byproducts, including antimony, which has significant revenue potential [19][20] 11. **Antimony Production**: Galena is the only large-scale producing antimony mine in the U.S., with plans to capitalize on this byproduct through new processing facilities [19][21] 12. **Cosalá Mine**: The Cosalá operation is producing 1.5-2 million ounces of silver annually and is set for exploration drilling to enhance production [21][22] 13. **Shareholder Alignment**: Management and directors have a strong alignment with shareholders, having increased their ownership from 7% to 63% since the deal announcement [22][23] Additional Important Information - **Market Position**: The company is positioned as the third highest-grade silver mine globally, with 87% of revenue exposure to silver [22] - **Analyst Coverage**: The company has gained interest from four new analysts, indicating growing market confidence [23] This summary encapsulates the key insights and strategic direction of Americas Gold and Silver as discussed in the conference call.

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Company Strategy & Growth - Endeavour Silver aims to become a leading senior silver producer through organic growth and strategic acquisitions [17] - The company targets production of 30 million ounces of silver equivalent (AgEq) by 2030, dubbed "30 by 30" [16] - Endeavour Silver strategically acquires key assets, exemplified by the acquisition of the Kolpa mine in Peru [14, 24] Production & Operations - YTD 2025 production reached 74 million ounces AgEq [19] - Guanaceví contributed 52% to YTD 2025 metal sales quantity, followed by Kolpa at 20% and Bolañitos at 28% [20] - Terronera mine commenced commercial production on October 1, 2025, with average daily production of 1,841 tonnes in July [18, 43, 52] Kolpa Mine Acquisition - The Kolpa mine acquisition is expected to increase Endeavour's annual production profile by approximately 50 million ounces AgEq [25] - Since May 1, 2025, Kolpa has produced 209 million ounces AgEq [22] - In Q3 2025, Kolpa produced 598,689 ounces of silver, 5,664 tonnes of lead, 3,666 tonnes of zinc, and 120 tonnes of copper [29] Pitarrilla Project - Endeavour Silver is advancing an economic study for the Pitarrilla project, one of the world's largest undeveloped silver deposits [18, 60] - In 2025, an estimated $257 million is allocated for Pitarrilla, including $166 million for feasibility study, development, and exploration [18] - Pitarrilla's resource mix is 60% silver and 40% lead/zinc [59]

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Core Insights - ScanSource (SCSC) missed Wall Street's revenue expectations for Q3 CY2025, reporting sales of $739.7 million, a 4.6% decline year on year, and a 6.1% miss against analyst estimates of $787.4 million [1][4] - The company's full-year revenue guidance of $3.2 billion at the midpoint exceeded analysts' estimates by 0.6% [1] - Non-GAAP profit per share was reported at $1.06, which was 14% above analysts' consensus estimates of $0.93 [1][4] Revenue Performance - Q3 revenue was $739.7 million, down 4.6% year on year, and missed analyst expectations by 6.1% [4] - Adjusted EBITDA was $38.59 million, beating analyst estimates of $35.03 million, with a margin of 5.2% [4] - The company reaffirmed its full-year revenue guidance of $3.2 billion and EBITDA guidance of $155 million, which is above analyst estimates of $150.8 million [4] Management Commentary - Management attributed the revenue decline to ongoing weakness in Brazil and changes in revenue reporting, particularly in the Specialty Technology Solutions segment [3] - CEO Mike Baur noted growth in some technology categories in North America but acknowledged declines in certain legacy areas [3] - The company is focusing on profitable growth through acquisitions and a shift towards higher-margin, recurring revenue businesses [3] Strategic Outlook - Management emphasized the importance of strategic M&A and channel programs for emerging tech suppliers [3] - Investments in AI education, channel expansion, and acquisition integration are seen as key drivers for future growth [3] - CFO Steve Jones highlighted potential variability in quarterly performance due to the timing of large deals and the evolving revenue mix [3]

Core Insights - Air Lease Corporation (AL) reported Q3 2025 earnings per share (EPS) of $1.29, missing the Zacks Consensus Estimate of $1.60, but showing a year-over-year improvement of 3.2% due to increased rental revenue from flight equipment [1][10] - Total revenues reached $725.4 million, falling short of the Zacks Consensus Estimate of $737.3 million, yet reflecting a 5.1% year-over-year growth [1][10] Merger Agreement - On September 2, 2025, Air Lease announced a definitive agreement to be acquired by a new holding company based in Dublin, Ireland, backed by Sumitomo Corporation, SMBC Aviation Capital Limited, and investment vehicles affiliated with Apollo and Brookfield [2] - Shareholders of Air Lease will receive $65 per share of Class A common stock in cash upon deal closure, valuing the transaction at approximately $7.4 billion, or $28.2 billion including debt obligations [3] - The deal is expected to close in the first half of 2026, pending customary closing conditions and regulatory approvals, with no financing contingency [4] Financial Performance - Revenues from the rental of flight equipment increased by 9% year over year to $681 million, driven by fleet growth and higher portfolio lease yield [5] - Revenues from aircraft sales and trading fell by 32% year over year to $44 million due to reduced sales activity, with $35 million gained from the sale of five aircraft during the quarter [6] - Operating expenses rose by 7.3% year over year to $600.9 million [6] Fleet and Financial Position - As of September 30, 2025, Air Lease owned 503 aircraft with a net book value of $29.5 billion, contributing to a total fleet size of 781 aircraft, including 228 on order [7] - The company ended Q3 with $452.21 million in cash and cash equivalents, slightly down from $454.80 million in the previous quarter, while debt financing amounted to $20.2 billion [8]

Canadian jet manufacturer Bombardier is considering mergers and acquisitions in the defense sector, seeking to capitalize on governments’ plans to spend heavily to rearm their militaries https://t.co/wcIRxsWJE8 ...

Core Insights - RSM UK has expanded its transactions tax team by hiring Alistair Haley as partner and Andrew Parker as director, both based in London [1][4] - The appointments aim to enhance the team's capacity to meet the growing demand for services in the mid-market deals space [4] Summary by Sections Alistair Haley's Background - Alistair Haley brings nearly 25 years of experience in tax advisory roles, focusing on corporate and private equity transactions [1] - His expertise includes cross-border mergers and acquisitions and knowledge of fund structures used by large investors [1][2] - Prior to joining RSM, Haley worked as a director at KPMG in Australia and later became a partner in the UK office, leading the financial services M&A tax practice [2] Andrew Parker's Background - Andrew Parker has over 30 years of experience in corporate tax work, both in the UK and internationally [3] - He previously held a partnership at Deloitte, advising large corporates, private equity groups, and real estate investors on mergers and acquisitions [3] - Parker's responsibilities included transaction structuring, due diligence projects, and refinancing activities [3] RSM UK's Strategic Goals - James Hunt, head of transactions tax at RSM UK, expressed enthusiasm about the new hires, highlighting their extensive experience in complex, cross-border transactions [4] - The firm aims to leverage the new team members' expertise to enhance service delivery and support growth objectives within the mid-market deals sector [4]

You can find original article here WealthManagement. Subscribe to our free daily WealthManagement newsletters. Modern Wealth Management, a $10 billion registered investment advisor co-founded by former United Capital executives, has appointed Derek Bruton as head of mergers and acquisitions.  Bruton joins Modern Wealth from executive recruiting firm and M&A consultancy Gladstone Group, where he oversaw RIA sell-side transactions and led the strategic growth consulting division. His past experience i ...

Core Viewpoint - Shares of Marvell Technology experienced a significant increase in premarket trading following reports that SoftBank was considering acquiring the U.S. chipmaker, which would represent a record deal [1] Company Summary - Marvell Technology's stock price surged in premarket trading, indicating strong investor interest and potential market confidence in the company's future prospects [1] Industry Summary - The potential acquisition by SoftBank highlights ongoing consolidation trends within the semiconductor industry, suggesting a competitive landscape where major players are seeking strategic partnerships and acquisitions to enhance their market positions [1]