PEMBROKE, Bermuda--(BUSINESS WIRE)--Gold Reserve Ltd. (TSX.V: GRZ) (BSX: GRZ.BH) (OTCQX: GDRZF) ("Gold Reserve†or the "Company†) announces that today the U.S. District Court for the District of Delaware (the "Delaware court†) issued an Order and Opinion adopting the recommendation of the Special Master that the PDVH shares should be sold to Elliott/Amber Energy despite its bid being $2 billion lower in price than the $7.9 billion, fully-financed bid submitted by Gold Reserve/Dalinar Energy and. ...

Mercuria Energy Trading will provide up to $100 million in prepayments to Eurasian Resources Group as part of a three-year supply agreement for copper from Democratic Republic of Congo https://t.co/JuboQdU1fW ...

Core Insights - Indian Oil Corporation (IOC) plans to form a joint venture with Vitol to enhance its global crude and fuel trading operations [1][2] - The partnership will be based in Singapore and is expected to last five to seven years, with an exit clause for both parties [2] - The joint venture aims to leverage Vitol's trading expertise to reduce crude procurement costs and increase margins for IOC [3] Company Strategy - IOC, along with its subsidiary Chennai Petroleum, controls approximately 31% of India's refining capacity, which is 5.17 million barrels per day (bpd) [3] - The company traditionally focuses on domestic trading but aims to establish a stronger presence in global trading through this partnership [3][5] - The joint venture will enable IOC to expand its exports of refined fuels and utilize Vitol's distribution channels and market intelligence [5] Market Context - The partnership will benefit Vitol by strengthening its position in India, the world's third-largest oil consumer and importer [4] - India's refining capacity is projected to increase from 5.17 million bpd to 6.2 million bpd by 2030, with long-term goals of reaching 9 million bpd [4] - This growth in refining capacity is expected to position India as one of the top three global refining hubs, especially as 20% of existing global refining capacity is anticipated to close by 2035 [4]

Core Viewpoint - A consortium of Swiss companies, including energy trader Mercuria and private equity firm Partners Group, has committed over $6 billion to U.S. energy investments to facilitate the reduction of U.S. tariffs on Switzerland [1] Group 1: Companies Involved - The group includes notable firms such as Mercuria, an energy trader, and Partners Group, a private equity firm [1] Group 2: Investment Details - The total pledged investment exceeds $6 billion, indicating a significant commitment to the U.S. energy sector [1]

Core Insights - Digi Power X Inc reported strong financial results for August, with revenues of $3.5 million from Bitcoin mining and energy trading, and a cash balance exceeding $29 million [1][5][6] - The company is valued at over $100 million with an annualized run rate exceeding $40 million, indicating strong growth momentum [2][6] - The ongoing conversion of the Alabama facility into a tier three AI data center is progressing well, with expectations to announce a tenant by the end of the year [7][9] Financial Performance - Revenues for August reached $3.5 million, driven by Bitcoin mining and energy trading activities [1][5] - The company holds a cash balance of over $29 million, which includes US dollars, Bitcoin, and Ethereum [1][5] - Ethereum holdings have increased significantly, with over 1,000 ether acquired, reflecting a 93% month-over-month growth [5][6] Strategic Developments - The Alabama facility is being converted into a tier three AI data center, with a power capacity of 40MW and total power availability of 55MW [8] - The company is collaborating with Super Micro to implement AI-ready modular solution pods that can scale from half a megawatt to the full capacity of the site [8] - Discussions are ongoing with major institutions for project financing, anticipated to be on favorable terms [9] Market Position - There is increasing institutional interest in Digi Power X, with new research coverage initiated by Alliance Global Partners [10][11] - The company is experiencing heightened demand in the cryptocurrency space, which is described as "white hot" [11] - The focus remains on executing the development of the Alabama facility and securing tenants [11]

Top natural gas trader Sutterby is rejoining Mercuria Energy Trading for a third stint after spending only a few weeks at Vitol Group, people with direct knowledge of the matter said https://t.co/JfqUZgcLNK ...

Financial Data and Key Metrics Changes - In Q4 2024, the company reported an adjusted EBITDA of BRL 1.3 billion and a net income of almost BRL 600 million, with a full-year adjusted EBITDA of BRL 5.1 billion and net income of BRL 2.8 billion, nearly BRL 3 billion [7][10][34] - The adjusted EBITDA for Q4 2024 was 12% lower than the BRL 1.4 billion reported in Q4 2023, primarily due to a smaller sales mix at Copel GeT and increased curtailment [23][24] Business Line Data and Key Metrics Changes - Copel Distribuicao generated an EBITDA of BRL 715 million in Q4 2024, marking a 23.6% increase compared to the same period last year, driven by a 2.5% growth in the billed grid market and a 2.7% adjustment in TUSD [24][25] - Copel GeT reported an adjusted EBITDA of BRL 613 million, impacted by a BRL 93 million loss due to lower performance of wind complexes and curtailment [26][27] Market Data and Key Metrics Changes - The company experienced a curtailment of 13.1% in Q4 2024 compared to 8.3% in Q4 2023, affecting the performance of wind assets [23][26][88] - The trading segment closed the quarter with an adjusted EBITDA of negative BRL 15 million, reflecting lower trading margins due to price variations in submarkets [27] Company Strategy and Development Direction - The company aims to optimize its asset portfolio and simplify its operating structure through strategic asset swaps and divestments, including the sale of minority stakes [12][16][74] - Future focus includes completing the investment program for Copel Distribuicao, enhancing operational excellence, and pursuing opportunities in energy trading [18][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to generate value through disciplined capital allocation and a focus on operational excellence, despite challenges from curtailment and market volatility [11][17][78] - The company anticipates a positive outlook for 2025, with expectations of improved EBITDA driven by tariff cycle renewals and operational efficiencies [17][34][110] Other Important Information - The company proposed a total of BRL 2.3 billion in dividends for 2024, resulting in a payout ratio of 86% and a dividend yield of approximately 8.4% [10][34] - The company executed a historical CapEx focused on regulatory remuneration and service quality, with 88% of total investments directed towards Copel Distribuicao [34] Q&A Session Summary Question: Capital allocation and optimum capital structure - Management discussed the ongoing study to determine the optimum capital structure, emphasizing the importance of maintaining flexibility for future investments while optimizing short-term capital allocation [40][44][49] Question: Energy price scenario and liquidity - Management highlighted the ability to capitalize on higher energy prices, with trading volumes exceeding BRL 180 in Q4 2024, and noted no significant liquidity issues [53][54][56] Question: Timing for optimum capital structure study and capacity auction - Management plans to present the findings of the optimum capital structure study and new dividend policy in May, alongside the first quarter earnings call [61][62] Question: Regulatory discussions on curtailment - Management acknowledged ongoing discussions regarding curtailment and emphasized the need for regulatory adjustments to mitigate its impact [69][78] Question: Performance of wind assets - Management explained that the performance of wind assets was affected by curtailment and maintenance issues, but measures are being taken to address these challenges [85][88]