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X @The Wall Street Journal
The Wall Street Journal· 2025-07-17 05:32
Palestinians in Gaza are facing a tough decision every day: starve or risk death while trying to get food from one of the aid distribution centers https://t.co/YzF1ftXE6m ...
Century Aluminum Company Announces Pricing of Private Offering of $400 million of Senior Secured Notes
GlobeNewswire· 2025-07-17 02:30
CHICAGO, July 16, 2025 (GLOBE NEWSWIRE) -- Century Aluminum Company (NASDAQ: CENX) (“Century”) announced today that it had priced its previously announced private offering (the “Secured Notes Offering”) of $400 million aggregate principal amount of 6.875% senior secured notes due August 2032 (the “Secured Notes”). The Secured Notes will be issued at a price equal to 100.00% of their aggregate principal amount. The Secured Notes will pay interest semi-annually in arrears on February 1 and August 1 of each ye ...
First Andes Silver Closed First Tranche of Private Placement
Newsfile· 2025-07-17 01:04
Core Viewpoint - First Andes Silver Ltd. has successfully closed the first tranche of its non-brokered private placement financing, raising gross proceeds of $1,017,000 by issuing 10,170,000 units at a price of $0.10 CAD per unit [1][4]. Group 1: Financing Details - Each unit consists of one common share and one-half of a share purchase warrant, with each whole warrant exercisable at $0.15 CAD per share for two years [2]. - The securities issued are subject to a four-month resale restriction, and the company paid a finder's fee of $42,350 along with 423,500 share purchase warrants [3]. - The second tranche of the offering is expected to close within seven days, pending acceptance from the TSX Venture Exchange [4]. Group 2: Use of Proceeds - Proceeds from the first tranche will be utilized to expand the current drill program at the Santas Gloria silver property and for general working capital [4]. Group 3: Company Overview - First Andes Silver Ltd. holds a 100% interest in the Santas Gloria silver property, located 55 km east of Lima, Peru, which features established road access and is situated in a known mining district [5]. - The property hosts over 12 km of multiphase veins that had not been historically drilled or explored using modern techniques prior to 2024 [5]. - The company's maiden diamond drill program reported high-grade silver across all drilled vein systems, confirming the silver endowment and necessitating high-priority follow-up drilling in 2025 [5].
X @Bloomberg
Bloomberg· 2025-07-17 00:35
Investment Strategy - ShawKwei & Partners, a private equity firm, is staying away from China [1] - The firm relocated from Hong Kong to Singapore three years ago [1]
Pure Cycle (PCYO) 2025 Investor Day Transcript
2025-07-16 20:00
Summary of the Conference Call Company and Industry - The conference call pertains to a land development company involved in residential and commercial real estate, specifically focusing on water rights and infrastructure development in the Denver area. Core Points and Arguments 1. **Current Development Status**: The company is actively developing multiple phases of residential lots, with phase two d being 40% complete and delivering 230 lots this month. The company is also engaged in utility work during winter months, which is temperature sensitive [5][6][7]. 2. **Sales Performance**: Approximately 80-90% of the homes built in phase two b have been sold, with some homes sold before construction began. The average selling rate is about 16 to 18 homes per month across four builders [7][34]. 3. **Market Dynamics**: The company is experiencing cyclical challenges in housing and land development, particularly due to updated county building regulations that delayed permit approvals. This has impacted the builders but has not significantly slowed down overall progress [15][16][19]. 4. **Revenue Recognition**: The company recognizes revenue as it builds infrastructure for its builders. In the current phase, there is a higher than usual number of lots under construction, leading to expectations of significant revenue catch-up in the fourth quarter [25][26][22]. 5. **Commercial Development Valuation**: The company has estimated the value of its commercial development at $423 million, based on a conservative metric of two to three and a half times the value of residential lots [37][39]. 6. **Water Rights and Revenue**: The company has a significant water rights portfolio, with a book value of $31.7 million. The estimated market value of these rights could be around $2.5 billion, considering the potential for 60,000 connections [47][50][91]. 7. **Share Buybacks and Market Perception**: There is a discussion regarding the company's share repurchase strategy, with some shareholders expressing concerns that it competes with their buying efforts. The management argues that share buybacks can enhance shareholder value by reducing the number of shares outstanding [55][61][82]. 8. **Future Growth Potential**: The company anticipates that as it continues to develop its land and water resources, it could significantly increase its capacity for future taps, potentially serving up to 120,000 connections [110][115]. Other Important but Overlooked Content 1. **Data Center Opportunities**: There is potential for developing data centers on the company's land, leveraging its water resources. However, the management acknowledges that this is not their primary focus and would require further exploration [117][129]. 2. **Market Dynamics and Indexing**: The company faces challenges in being indexed well, which affects its stock price relative to its intrinsic value. The management is aware of the need to attract institutional investors to bridge this gap [97][100][106]. 3. **Long-term Projections**: The management emphasizes the importance of demonstrating consistent growth and execution to build credibility with investors, which could lead to a more favorable market perception [103][104]. This summary encapsulates the key points discussed during the conference call, highlighting the company's current status, challenges, and future opportunities in the land development and water rights industry.
Private equity in retirement plans: Here's what 401k owners need to know
CNBC Television· 2025-07-16 19:22
Welcome back to Power Lunch. President Trump is reportedly expected to sign an executive order in the coming days that would help make private market investments more available to US retirement plans. Could pave the way for big managers of these private assets to access the vast sums of retirement savings held by workers who don't have a traditional pension. What it could mean for you and your money. Let's ask no one better than CNBC senior personal finance correspondent Sharon Eper. Sharon, um, we've talke ...
X @The Wall Street Journal
The Wall Street Journal· 2025-07-16 18:40
A development battle in Tennessee is splitting a deep-red county over what it means to be conservative. 🔗 https://t.co/B6hn7uLima https://t.co/5fTVVOKprj ...
Bone Fide Wealth's Doug Boneparth breaks down the risk-reward of private assets in 401(K)s
CNBC Television· 2025-07-16 18:33
Concerns Regarding Private Market Assets in 401(k) Plans - Introducing complexity with private equity might not be the best idea for most investors, as many struggle with basic investment principles [3] - There are concerns about the track record of private equity, especially in the current high-interest rate environment [4] - The private equity industry has changed significantly in the last 20 years, and it's unclear if current returns justify its inclusion alongside stocks in retirement accounts [5] - Liquidity and pricing issues are significant concerns, as these assets are not marked to market daily [5] - Transparency is lacking, making it difficult to objectively determine appropriate allocation amounts [11] Considerations for Including Private Market Assets - For young investors with a long-term investment horizon, private equity in a 401(k) might be suitable, but this is the exception, not the rule [6][7] - Private assets may offer greater diversification and non-correlation to a portfolio [8] - Private credit has performed well in recent years, but its future performance is uncertain due to increased competition and changing market conditions [10] Recommendations and Cautions - Investors should master investing in traditional asset classes like large-cap, mid-cap, small-cap, international stocks, and credit before considering alternative assets [13] - Advisors, the public, and everyone should do their homework and wait for more performance data before investing in private market assets [14] - Alternative investments should only be considered for accounts above a certain size [12]