BUZ INVESTORS Tesla Model 3 There's never a quiet day at Tesla. The brain behind this (related to fighting authority or causing huge, important changes) company is forever busy brewing up disruptive ideas.

Tesla sells $1.8B of bonds at 5.3% yield in upsized offering

Tesla sells $1.8B of bonds at 5.3% yield in upsized offering

Tesla sells $1.8B of bonds says it raised $1.8B, <a href=$300M more than expected, at a 5.3% yield in its first traditional " width="300" height="183" srcset="https://i1.wp.com/investorsbuz.com/wp-content/uploads/2017/03/Tesla-Stock6-300x183-Small.jpg?resize=300%2C183 300w, https://i1.wp.com/investorsbuz.com/wp-content/uploads/2017/03/Tesla-Stock6-300x183-Small.jpg?resize=768%2C468 768w, https://i1.wp.com/investorsbuz.com/wp-content/uploads/2017/03/Tesla-Stock6-300x183-Small.jpg?w=787 787w" sizes="(max-width: 300px) 100vw, 300px" />

Tesla sells $1.8B of bonds(NASDAQ:TSLA) says it raised $1.8B, $300M more than expected, at a 5.3% yield in its first traditional bond offering, marking a vote of confidencein the company and another sign of investors’ appetite for corporate debt at a time when government bonds provide meager returns.

TSLA is “at the right place at the right time with the right product,” says CreditSights analyst Hitin Anand.

Goldman Sachs was the lead underwriter of the eight-year bonds, which were rated B- by S&P and B3 by Moody’s.



Tesla sells $1.8B of bonds

Efraim Levy of CFRA says the bond investors are expecting profitability from TSLA’s more affordable Model 3, but “by 2025 there’s no more room for excuses.”

The deal “speaks to the sheer insanity found in the high-yield market to have a deal like this upsized with terms so unappealing to investors,” says Larry McDonald of The Bear Traps Report. “Congrats to Elon Musk.”

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Buz Investors EURUSD Marginally Higher A very light economic calendar and some easing political concerns are resulting in a modest gain in EUR/USD in today’s trading. The pair is currently at 1.0619, up 0.10% over Friday’s close.

EURUSD Sells Off on ECB Rate Decision

EURUSD Sells Off on ECB Rate Decision

BUZ INVESTORS EURUSD Sells Off This morning at 09:40 GMT, the EUR is trading at 1.0895 against the USD, 0.06% lower from the New York close.

EURUSD

BUZ INVESTORS EURUSD Sells Off  This morning at 09:40 GMT, the EUR is trading at 1.0895 against the USD, 0.06% lower from the New York close. On the data front, the Eurozone’s consumer confidence index advanced as initially estimated in April, while Germany’s GfK consumer confidence index rose more-than-anticipated in May. This morning, the pair traded at a high of 1.0921 and a low of 1.0890. The Euro traded 0.12% higher against the US Dollar in the New York session yesterday, with the pair closing the session at 1.0902. The pair is expected to its find support at 1.0860 and its first resistance at 1.0926.



EURUSD Sells Off 

Euro Dollar Exchange Rate  | Data | Chart | Calendar

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The euro fell 0.3% against the US dollar to $1.8705 around 2:15 PM London time on Thursday after hitting a high for the day of $1.0929, as ECB’s president Mario Draghi said policymakers were not sufficiently confident that inflation will converge with the central bank’s target in the medium-term for them to consider an end to QE. Historically, the Euro Dollar Exchange Rate – EUR/USD reached an all time high of 1.87 in July of 1973 and a record low of 0.70 in February of 1985. The euro was only introduced as a currency on the first of January of 1999. However, synthetic historical prices going back much further can be modeled if we consider a weighted average of the previous currencies.

The EURUSD spot exchange rate specifies how much one currency, the EUR, is currently worth in terms of the other, the USD. While the EURUSD spot exchange rate is quoted and exchanged in the same day, the EURUSD forward rate is quoted today but for delivery and payment on a specific future date. This page provides the latest reported value for – Euro Dollar Exchange Rate – EUR/USD – plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Euro Dollar Exchange Rate – EUR/USD – actual data, historical chart and calendar of releases – was last updated on April of 2017.

Eurozone Jobless Rate Falls To Near 8-Year Low Of 9.5%

The unemployment rate in the Euro Area dropped to 9.5 percent in February 2017 from 9.6 percent in January and in line with market expectations. It was the lowest level since May 2009. A year earlier, the unemployment was higher at 10.3 percent.

Compared with January 2017, the number of unemployed decreased by 140,000 to 15.439 million in the Euro Area. Compared with the previous year, it fell by 1.246 million.
Considering the European Union, the unemployment rate was 8 percent in February 2017, down from 8.1 percent in January and from 8.9 percent a year ago. This remains the lowest rate recorded in the EU28 since January 2009. There were 19.750 million people unemployed, a decrease of 153,000 from the previous month and of 1.852 from February 2016.
2017-01-31 10:00 AM Dec 9.6% 9.7% 9.8% 9.7%
2017-03-02 10:00 AM Jan 9.6% 9.6% 9.6% 9.6%
2017-04-03 09:00 AM Feb 9.5% 9.6% 9.5% 9.5%
2017-05-02 09:00 AM Mar 9.5% 9.5%
2017-05-31 09:00 AM Apr 9.4%
2017-07-03 09:00 AM May 9.4%

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major currencies: (EUR-USD) (USD-JPY) (USD-GBP) (USD-CHF), (USD-CAD), (AUD-USD)

Stock Market 3563.29 3578.71 4557.57 1809.98 points [+]
Currency 1.09 1.09 1.87 0.70 [+]
Government Bond 10y -0.45 -0.44 2.57 -0.50 percent [+]

 




 

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Euro Area Business Confidence | 1985-2017 | Data | Chart | Calendar

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Euro Area Current Account | 1999-2017 | Data | Chart | Calendar | Forecast

Anaconda Mining sells 16,023 ounces and generates $7.0M of EBITDA at the Point Rousse Project in fiscal 2016

Anaconda Mining sells 16,023 ounces and generates $7.0M of EBITDA at the Point Rousse Project in fiscal 2016

Anaconda Mining sells 16,023 ounces and generates $7.0M of EBITDA at the Point Rousse Project in fiscal 2016

Anaconda Mining sells 16,023 ounces and generates $7.0M of EBITDA at the Point Rousse Project in fiscal 2016

TORONTO, Aug. 26, 2016 /CNW/ – Anaconda Mining Inc. (“Anaconda” or the “Company”) – (TSX:ANX) is pleased to report its financial and operating results for the fiscal year ended May 31, 2016. The Company sold 16,023 ounces of gold in fiscal 2016 resulting in$24,361,471 in revenue at an average sales price of $1,520 (USD$1,151) per ounce. Cash cost per ounce sold at the Point Rousse Project for fiscal 2016 was $1,081 (USD$819). Earnings before interest, taxes, depreciation and amortization and other non-cash expenses (“EBITDA”) at the project level were $7,036,401. Net income for the year ended May 31, 2016 was $195,449. As at May 31, 2016, the Company had cash and cash equivalents of $1,636,161 and net working capital of $819,322. All dollar amounts are in Canadian dollars unless otherwise noted.

President and CEO, Dustin Angelo, stated, “During fiscal 2016, the Company, for the first time ever, sold more than 16,000 ounces of gold, generating over $7.0M of EBITDA at the Point Rousse Project. It is the fifth year in a row Anaconda has generated positive cash flow from operations for a total of approximately $35 million in EBITDA at the project level over the five-year period. The Pine Cove Mill hit another new record level of ore processed, up 13% year over year, which offset the relatively lower grades we have been experiencing in the recent mine plan. During the year, the Company took its first step in mining and processing ore from Stog’er Tight, successfully demonstrating the ability to blend higher-grade ore through the Pine Cove Mill which is part of the Company’s long-term strategy. Looking ahead to the next potential source of ore for the Pine Cove Mill, the Viking Project acquisition in February significantly increased our land package and resource base. We are poised for substantial growth, anchored by a continuously improving mill and the potential to expand our resource base and find higher-grade ore at our two projects.”

The Company has budgeted to produce and sell over 16,000 ounces of gold in fiscal 2017 and generate over $24 million of revenue using a gold price of $1,500 per ounce. Due to an expected reduction in grade during the first half of fiscal 2017, Anaconda is projecting to generate lower EBITDA at the Point Rousse Project ($3.4 million) compared to fiscal 2016, most of which will come in the latter half of the fiscal year. The Company is currently undertaking a 17,000-metre drill program focusing on resource expansion as well as targeting higher-grade resources in an effort to increase, in the long-term, the average grade of ore going through the Pine Cove Mill and increase profitability.

Highlights for the year ended May 31, 2016

  • As at May 31, 2016, the Company had cash and cash equivalents of $1,636,161 and net working capital of $819,322.
  • The Company sold 16,023 ounces of gold and generated $24,361,471 in revenue at an average sales price of $1,520 (USD$1,151)per ounce.
  • Cash cost per ounce sold at the Point Rousse Project was $1,081 (USD$819).
  • All-in sustaining cash cost per ounce sold (“AISC”) (see Reconciliation of Non-GAAP Financial Measures), including corporate administration, capital expenditures and exploration costs was $1,522 (USD$1,152).
  • The Pine Cove Mill processed 387,694 tonnes of ore at an average rate of 1,134 tonnes per operating day.
  • Mill availability, recovery and head grade were 93%, 85% and 1.50 g/t respectively.
  • Mining operations at the Pine Cove Pit produced 370,561 tonnes of ore and 2,366,842 tonnes of waste.
  • Mining operations at the Stog’er Tight Deposit produced 27,260 tonnes of ore at an average grade of 2.22 g/t and 55,038 tonnes of waste.
  • EBITDA (see Reconciliation of Non-GAAP Financial Measures) at the Point Rousse Project and on a consolidated basis were$7,036,401 and $4,335,115 respectively.
  • Net income was $195,449.
  • Purchase of property, mill and equipment was $3,079,646. Key items included mill automation and equipment upgrades of$1,241,000, tailing expansion and polishing pond construction of $804,000, construction of ore shed enclosure of $289,000 and pit development costs of $588,000 at Pine Cove and Stog’er Tight.
  • Production stripping assets include additions of $1,883,022 and amortization of $37,258.
  • Approximately $1,347,000 was spent at Point Rousse on exploration activities such as drilling, trenching, mapping and mineral resource estimates for the year ended May 31, 2016.
  • On February 5, 2016, the Company completed the acquisition of the Viking Project.

Highlights subsequent to the year ended May 31, 2016

  • On July 13, 2016, the Company announced that it entered into a Line of Credit Agreement with the Royal Bank of Canada (“RBC”) for a $1,000,000 revolving credit facility as well as a $500,000 revolving equipment lease line of credit.
  • On July 27, 2016, the Company announced a $2,037,265 flow-through equity financing to fund a 17,000-metre diamond drilling campaign at the Point Rousse and Viking Projects which will focus on near-surface resource expansion as well as targeting relatively higher-grade mineral resources at four main areas – Stog’er Tight, Argyle, Goldenville and Viking.

Operations overview

During the year ended May 31, 2016, the gold sales volume of 16,023 ounces represented a 1% increase over fiscal 2015, largely due to increased mill availability, throughput and recovery. Average sales price for the year ended May 31, 2016 was $1,520 per ounce compared to $1,405 per ounce in fiscal 2015. As a result of the higher sales volume and gold price, gross revenue for the year endedMay 31, 2016 of $24,361,471 was higher than fiscal 2015 by $2,127,400 or 10%.

MILLING OPERATIONS

The following table summarizes the key mill operating metrics for the years ended May 31, 2016 and 2015:

OPERATING STATISTICS:

For the year ended

May 31

2016

May 31

2015

Mill

Operating days

342

336

Availability

93%

92%

Dry tonnes processed

387,694

343,178

Tonnes per 24-hour period

1,134

1,021

Grade (grams per tonne)

1.50

1.72

Overall mill recovery

85%

84%

Gold sales volume (troy oz.) 

16,023

15,821

 

The mill operated for 342 days during fiscal 2016; 6 additional days compared to fiscal 2015. Ore processed totaled 387,694 dry tonnes of ore resulting in an average run rate of 1,134 tonnes per operating day. Tonnes processed in fiscal 2016 was a 13% increase from fiscal 2015. Mill availability of 93% and recovery of 85% were both 1% higher respectively, compared to fiscal 2015.

The Company processed 25,158 tonnes of ore from the Stog’er Tight Property at an average grade of 2.22 g/t, producing 1,462 ounces of gold. During fiscal 2016, the Company has demonstrated the ability to successfully blend Stog’er Tight and Pine Cove ore through the Pine Cove Mill.

The Pine Cove Mill continues to demonstrate improvements in operations year-over-year attaining record levels of throughput. Initiatives during fiscal 2016 were centered around the mill automation project and equipment repairs and upgrades on the ball mill motor and other components. The repairs to the ball mill motor have enabled it to start up with a higher ball charge, which has helped improve throughput through the year. Mechanical issues with the regrind mill experienced in the third quarter were resolved and allowed the operation to maintain a stable feed size of concentrate to the leach tanks resulting in improvements in recovery. In fiscal 2017, the Company intends to focus on maintaining consistent and optimized operations. The mill automation project will play a significant role in streamlining and monitoring various processes which are expected to result in reduced costs and increased productivity during fiscal 2017.

MINING OPERATIONS

The following table summarizes the key mining operating metrics for the years ended May 31, 2016 and 2015:

OPERATING STATISTICS:

For the year ended

May 31

2016

May 31

2015

Mine – Total

Operating days

292

250

Ore production (tonnes)

397,821

321,532

Waste production (tonnes)

2,421,880

1,762,312

Total production (tonnes)

2,819,701

2,083,844

Waste: Ore ratio

6.1

5.5

Mine – Pine Cove Pit

Operating days

269

250

Ore production (tonnes)

370,561

321,532

Waste production (tonnes)

2,366,842

1,762,312

Total production (tonnes)

2,737,403

2,083,844

Waste: Ore ratio

6.4

5.5

Mine – Stog’er Tight

Operating days

23

Ore production (tonnes)

27,260

Waste production (tonnes)

55,038

Total production (tonnes)

82,298

Waste: Ore ratio

2.0

 

Mining operations included 269 days of production at the Pine Cove Pit and 23 days of production at the Stog’er Tight Deposit. Total production for fiscal 2016 resulted in 397,821 tonnes of ore and 2,421,880 tonnes of waste including 27,260 tonnes of ore and 55,038 tonnes of waste from Stog’er Tight. Tonnes mined in fiscal 2016 was 35% higher compared to fiscal 2015.

The Company reduced truck haul distance and cost per tonne of waste mined through use of the North Pit Waste Dump. The Company continuously explores various mine plan scenarios in order to maintain this benefit in mine production going forward. The increased levels of production per the mine plan are expected to continue as production is focused on Phase III of the Pine Cove Pit and material is required for construction of the tailings facility expansion in fiscal 2017.

Reconciliation of Non-GAAP financial measures

The Company has included certain non-GAAP financial measures in this document. These measures are not defined under IFRS and should not be considered in isolation. The Company believes that these measures, together with measures determined in accordance with IFRS, provide investors with an improved ability to evaluate the underlying performance of the Company. The inclusion of these measures is meant to provide additional information and should not be used as a substitute for performance measures prepared in accordance with IFRS. These measures are not necessarily standard and therefore may not be comparable to other issuers.

Adjusted net earnings measure the performance of the Company, excluding certain impacts which the Company believes are not reflective of the Company’s underlying performance for the reporting period, such as the impact of foreign exchange gains and losses, impairment charges, and non-hedge derivative gains and losses. Although some of the items are recurring, the Company believes that they are not reflective of the underlying operating performance of its current business and are not necessarily indicative of future operating results.