Kostolanys Erbe schrieb am 02.07.2015, 23:36 Uhr[/url]"]aus
http://investor-magazin.de/download/investor-magazin_2015/Investor-Magazin_Ausgabe128.pdf
Aktie der Woche - Rohstoffe
Newmarket Gold & Crocodile Gold: Die Chance des Jahres
Nach der rasanten Talfahrt der
Rohstoffwerte im letzten Quartal 2014
hat sich der Markt sichtlich beruhigt.
Seit Mitte Dezember dümpelt dieser
mittlerweile nur noch vor sich hin. Der
Toronto Stock Exchange Venture
Index, in dem die meisten Explorations–
und Produktionsgesellschaften
gelistet sind, handelt seither ohne große
Aufregung in einer Spanne zwischen
640 und 715 Punkten. Während
der Markt sich also in einer ausgedehnten
Bodenbildungsphase befindet,
geht es hinter den Kulissen rund. Dabei
sind nicht nur die Herrschaften von
Osisko Royalties (siehe auch Ar tikel
zu Falco Resources in Ausgabe 126)
aktiv, sondern auch andere Industriegrößen
positionieren sich für die
nächste Marktphase. Die mit 15 Mio.
CAD bewertete Newmarket Gold, quasi
eine Mantelgesellschaft, schluckt
den Goldproduzenten Crocodile Gold
mit einer Marktbewertung von 145
Mio. CAD. Eine Blüte, wie sie nur der
derzeitige Markt hervorbringen kann.
Für uns stellt dieser Deal die Chance
des Jahres im Rohstoffbereich da.
Allstars übernehmen das Ruder
Um die Transaktion zu verstehen,
muss man sich lediglich das Management,
den Aufsichtsrat sowie die Liste
der für Newmarket tätigen Berater
anschauen. Hier findet sich das Who-is
-Who der kanadischen Miningbranche.
Darunter sind: Chairman Raymond
Threlkeld (u.a. Ex-CEO Rainy River,
für 310 Mio. CAD verkauft),
Lukas Lundin (u.a. 7,1 Mrd. CAD
Verkauf von Red Back Mining), Randall
Oliphant (u.a. Ex-CEO von Barrick
Gold) und Ian Telfer
(Aufsichtsratsvorsitzender Goldcorp).
Zusammen hat das Team Verkäufe
von Unternehmen im Gesamtwert von
über 30 Mrd. CAD realisiert. Wir sprachen
jüngst persönlich mit Newmarket
CEO und Präsident Doug Forster (Ex-
Terrane Minerals für 750 Mio. CAD
verkauft und Potash
One, für 434
Mio. CAD an
K+S verkauft).
Wir fragten ihn
warum die Aktionäre
von
Crocodile Gold,
allen voran
Luxor Capital
aus New York
(~56%), dieser
Transaktion zustimmen
werden (HV am 6. Juli).
Newmarket solle sich zu einer Plattform
entwickeln, die nach und nach
Projekte und Produzenten übernehmen
werde. Der Fokus, so Forster, liege
dabei auf Produzenten mit einer Jahresproduktion
von 100.000 und mehr
Unzen Gold. Crocodile verfüge zwar
über ein exzellentes, operatives Team,
doch fehle es an Expertise im Bereich
Kapitalmarkt und Transaktionen. Diese
bringe nun Newmarket mit in das
Unternehmen.
Crocodile Gold: Sehr gutes Q1
Im ersten Quartal produzierte Crocodile
auf seinen Projekten in Kanada und
Australien 59.676 Unzen Gold und
befindet sich auf einem guten Weg,
das obere Ende der ausgegeben
Guidance von 220.000 Unzen Gold für
das Gesamtjahr zu schlagen. Die Cashkosten
je produzierter Unze Gold
konnten auf 683 US-Dollar gesenkt
werden (Guidance 780-860 USDollar).
Die All-In Kosten gingen
ebenfalls um 28,2% auf 938 US-Dollar
je Unze zurück. Positiv ist zudem zu
werten, dass Crocodile CEO Rodney
Lamond der neuen Newmarket als
COO erhalten bleiben wird.
Neubewertung Pflicht
Eine der Hauptaufgaben wird es sein,
für die neue Newmarket Gold ein Rerating
herbeizuführen. Im Vergleich zur
Peer-Group liegt man in Sachen
Marktbewertung deutlich zurück. Wie
wir erfahren konnten, werden nach
Transaktionsabschluss - in Abhängigkeit
der Genehmigung durch die Börse
Toronto für den 15. Juli erwartet - vier
Großbanken das Researchcoverage
aufnehmen und ihren Kunden vorstellen.
Newmarket hat jüngst eine Finanzierung
über 24,8 Mio. CAD abgeschlossen.
Allein 6 Mio. CAD soll
dabei Lukas Lundin gezeichnet haben.
Auch andere Insider haben abermals
sechs- bis siebenstellige Summen investiert.
Nach Abschluss der Transaktion
werden rund 40 Mio. CAD in der
Kasse liegen. Hier wächst etwas Großes
heran und eine Neubewertung des
Titels ist Pflicht. Sobald wir Kenntnis
vom Eröffnungskurs nach Handelsaussetzung
erlangen (wir rechnen
mit 1,50 CAD), schicken wir unseren
Abonnenten eine kurzfristige
Empfehlung per Email. (kh)
[url=http://peketec.de/trading/viewtopic.php?p=1585596#1585596 schrieb:
greenhorn schrieb am 11.05.2015, 15:02 Uhr[/url]"]
CRK - passend heute auch Top-Zahlen von CRK, Geduld hat sich gelohnt!
Crocodile Gold earns $15.7-million (U.S.) in Q1
2015-05-11 08:19 ET - News Release
Ms. Laura Lepore reports
CROCODILE GOLD REPORTS STRONG FIRST QUARTER RESULTS; CASH OPERATING COSTS OF $683 PER OUNCE LOWER THAN FULL-YEAR 2015 GUIDANCE
Crocodile Gold Corp. has provided its financial results for the three months ended March 31, 2015. Full financial statements and management discussion and analysis documents can be found at SEDAR and the company's website.
http://www.marketwired.com/press-re...ating-costs-683-per-ounce-tsx-crk-2018388.htm
First quarter highlights (Q1 2015)
Consolidated production of 59,676 ounces, up 11.4 per cent compared with Q1 2014, and seventh consecutive quarter of gold production above 53,000 ounces;
Operating cash costs of $683 per ounce sold, a 29.7-per-cent decrease from $971 in Q1 2014, below full-year 2015 guidance of $780 to $860;
All-in sustaining cash costs (AISC) per ounce sold of $938, a 28.2-per-cent decrease from $1,307 in Q1 2014, below full-year 2015 guidance of $1,020 to $1,100, and with average realized gold price of $1,185 in Q1 2015;
Revenue of $72.9-million, up 3.6 per cent, based on 61,294 ounces sold;
Operating cash flow of $27.5-million, more than doubled from the level in Q1 2014;
Net income of $15.7-million, or three-cent earnings per share, versus a net loss of $3.3-million, or one cent in Q1 2014;
Completed the termination of the net free cash flow sharing arrangement with AuRico Gold Inc. in January with a one-time payment of $16.7-million ($20-million (Canadian)) in cash, without incurring debt, and the grant of a NSR (net smelter returns) royalty over the Fosterville and Stawell gold mines as previously disclosed;
Cash balance of $27.8-million and working capital of $16.6-million;
Reported a 3.9-per-cent increase in measured and indicated (M&I) resources Fosterville gold mine and 7.8-per-cent increase in M&I resources at Cosmo gold mine following positive 2014 exploration results;
Stawell established an M&I resource for the first time since 2012, reporting of 243,000 ounces, at an average grade of 1.81 grams per tonne (g/t);
Commenced $5.4-million growth exploration program for the advancement of several strategic near-term growth projects including a diamond drill program for $2.3-million across all sites and the initiation of a $3.1-million phased feasibility study on the Maud Creek gold deposit.
Management commentary
Rodney Lamond, president and chief executive officer, Crocodile Gold, commented: "Our strong performance in the first quarter continued to demonstrate the positive impact of our focus on operational execution, cost reduction, and reserve and resource replacement. We delivered a seventh consecutive quarter of production above 53,000 ounces, and increased profitability, and positive free cash flow. These milestones were achieved in spite of a challenging gold price environment.
"We are extremely pleased with first quarter gold production of 59,676 ounces which positions us to meet the top end of our 2015 guidance range of 220,000 ounces. Revenue increased 3.6 per cent to $72.9-million on the sale of 61,294 ounces of gold. Our ongoing emphasis on cost reduction and productivity initiatives contributed to a 29.7-per-cent decrease in operating cash costs per ounce sold year over year to a record low $683, also below full-year 2015 operating cash cost guidance of $780 to $860 per ounce. Importantly, we achieved lower operating cash costs in the quarter, before the impact of foreign exchange. Based on these results, operating cash flow more than doubled to $27.5-million year over year and net income was $15.7-million, or three cents per share, compared with a net loss in the prior year. AISC decreased 28.2 per cent to $938 per ounce sold, also below full-year guidance of $1,020 to $1,100.
"With our strong start and a solid cash balance during the quarter, we are pleased to have commenced a significant exploration program for reserve and resource growth in 2015. We have initiated a $5.4-million exploration program, in addition to our sustaining capital budget of $9.4-million, for the advancement of several strategic near-term growth projects including a $2.3-million diamond drill program and the launch of a $3.1-million phased feasibility study on the Maud Creek gold deposit. Throughout 2015, we are focused on advancing additional growth projects opportunistically to ensure we continue to generate solid free cash flow."
Mr. Lamond concluded, "While it remains a challenging gold environment, we are well positioned to create shareholder value through achieving our 2015 full-year production and cost targets, and through continuing to grow our reserves and resources while generating free cash flow."
[url=http://peketec.de/trading/viewtopic.php?p=1585591#1585591 schrieb:
greenhorn schrieb am 11.05.2015, 14:39 Uhr[/url]"]
CRK - Fusion.........mit NGN
May 11, 2015 08:30 ET
Newmarket Gold and Crocodile Gold Merge to Establish a New Platform for Gold Asset Consolidation
The Combination Forms a Strong Gold Producing Company with Enhanced Capital Markets Exposure and Access to Capital
http://www.marketwired.com/press-re...-gold-asset-consolidation-tsx-crk-2018408.htm
TORONTO, ONTARIO and VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 11, 2015) - Crocodile Gold Corp. ("Crocodile Gold")(TSX:CRK) and Newmarket Gold Inc. ("Newmarket")(TSX VENTURE:NGN) today are pleased to announce that they have entered into a definitive arrangement agreement (the "Arrangement Agreement") to combine, creating a new gold industry consolidator solidly positioned to acquire high quality gold assets in the world's best mining jurisdictions (the "Transaction").
The combination ("NewCo") creates a strong gold producing company with enhanced capital markets exposure and access to capital. NewCo will benefit from Crocodile Gold's strong asset base, established gold production of over 200,000 ounces per year and track record of free cash flow generation from the Fosterville, Stawell, and Cosmo underground gold mines in Australia. NewCo will also have a proven and experienced executive management team focused on enhanced shareholder value creation. The NewCo team will be led by Douglas Forster, Rodney Lamond, Blayne Johnson, and Robert Dufour and supported by an experienced Board of Directors including Raymond Threlkeld, Lukas Lundin, Randall Oliphant and Robert Getz. Following completion of the Transaction, NewCo will be renamed "Newmarket Gold Inc."
Under the terms of the Arrangement Agreement, each Newmarket shareholder will receive one NewCo common share ("NewCo Share") for each Newmarket common share ("Newmarket Share") held. Each Crocodile Gold shareholder will have the option to elect to receive consideration per Crocodile Gold common share ("Crocodile Gold Share") of (i) 1.228 NewCo Shares, (ii) C$0.37 in cash, or (iii) a combination thereof subject to a maximum aggregate cash consideration of C$20 million (the "Crocodile Gold Consideration"). Assuming full proration, shareholders of Crocodile Gold will receive 1.088 NewCo Shares and C$0.042 in cash for each Crocodile Gold Share held. All NewCo Shares will be issued in the Transaction on a notional 1 for 5 consolidated basis. The cash component of the Crocodile Gold Consideration will be funded from the proceeds of the Private Placement (as defined below). Assuming full proration, on completion of the Transaction and Private Placement financing, it is anticipated that NewCo will have approximately 134 million NewCo Shares issued and outstanding and approximately C$40 million in cash on hand.
Based on the closing price of the Newmarket Shares on the TSX Venture Exchange of C$0.30 on May 8, 2015, the Crocodile Gold Consideration represents an offer price of C$0.37 per Crocodile Gold Share which is a premium of 37% to the closing price of Crocodile Gold Shares of C$0.27 on the Toronto Stock Exchange on May 8, 2015 and a premium of 52.5% based on the volume weighted average prices of each respective company for the period comprising the 20 trading days ended on May 8, 2015.
Following the completion of the Transaction, existing Crocodile Gold shareholders will hold approximately 80% of NewCo Shares on a fully diluted in-the-money basis. Existing Newmarket shareholders will hold approximately 12% of NewCo Shares on a fully diluted in-the-money basis with the remaining 8% to be held by investors participating in the Private Placement.
The Transaction is subject to the approval of Newmarket and Crocodile Gold shareholders, applicable regulatory approvals and the satisfaction of customary conditions. The Transaction is expected to close in the third quarter of 2015.
Highlights of the Merger
•Execution of a gold consolidation strategy: The merger establishes a material producing platform to continue to acquire high quality gold production assets and development opportunities. NewCo shareholders will be well positioned to participate in future value creation and growth opportunities.
•Strong foundation of producing gold assets: Crocodile Gold's strong asset base provides sustainable annual production with 2015 production guidance of 205,000 - 220,000 gold ounces from well-established operations in Australia, a world-class politically stable mining jurisdiction.
•Experienced operating team: Focused on operational excellence, cost reduction and reserve and resource replacement evidenced by Crocodile Gold's seven consecutive quarters of production above 53,000 ounces, and increased profitability and positive free cash flow, as at Q1 2015.
•Proven management team and Board: NewCo management team and board of directors have extensive experience in the mining industry with a long history of substantial shareholder value creation and demonstrated capabilities in financing, acquiring, and developing open pit and underground mines across the globe.
•Enhanced capital markets exposure and access to capital: NewCo management team and board of directors have relationships with key investors and analysts that will help attract strong retail and institutional support. Management's financial backing and proven ability to raise capital creates a unique operating company that can rapidly transact on value accretive gold opportunities.
•Compelling value proposition: NewCo will be well positioned with leading leverage among mid-tier gold producer equities and attractive relative valuation on net asset value, cash flow, resource, and production multiples.
•Demonstrated ability to lower costs and generate cash: Cash costs have decreased 41% since 2012 to US$683/oz in Q1 2015 and all-in sustaining cash costs ("AISC") per ounce have decreased 44% to US$938/oz in Q1 2015. Guidance for 2015 cash cost has been set at US$780 - US$860/oz and AISC guidance at US$1,020 - US$1,100/oz. Crocodile Gold generated US$74.2 million in cash from operations in 2014 and a further US$27.5 million in Q1 2015 alone. NewCo management expects the implementation of optimization efforts to lead to further declines in operating costs and superior cash flow generation.
•Large resource base with track record of resource conversion: Sustainable mining model supported by consolidated measured and indicated gold resources of approximately 4.8 million ounces and a history of replacing depleting reserves. Potential to realize additional value through exploration of over 4,000km2 of prospective landholdings in known gold fields with brownfield development capability. The Northern Territory and the State of Victoria where the Crocodile Gold mines are located have produced approximately 60 million ounces of gold to date.
Douglas Forster, President and Chief Executive Officer of Newmarket stated: "The combination of Newmarket and Crocodile Gold is designed to create a strong platform for future growth and consolidation in the gold sector. This transaction recognizes the deep value of Crocodile Gold's Australian operations that produce more than 200,000 ounces of gold annually, and the excellent work of Rodney Lamond and his team having turned Crocodile Gold's diverse operating mines into strong, stable cash flow generators. This transaction is a significant step in Newmarket's goal to deliver both immediate and long-term value to shareholders through the disciplined acquisition of quality gold assets in politically stable jurisdictions worldwide. Newmarket founder's and management's direct participation via the concurrent private placement financing demonstrates our commitment to aligning management's goals with those of our shareholders and to creating significant shareholder wealth."
Rodney Lamond, President and Chief Executive Officer of Crocodile Gold stated: "The Board and Management of Crocodile Gold fully support the planned combination between our two Companies. NewCo will be well managed by a Board of Directors and senior executive management team that have an excellent track record and history of successfully growing large portfolios of mines and projects. NewCo provides an opportunity for Crocodile Gold's shareholders to participate in the long-term value and advancement of our existing assets while growing through future acquisitions. We believe this business combination will begin to benefit shareholders of both companies immediately."
[url=http://peketec.de/trading/viewtopic.php?p=1585580#1585580 schrieb:
Kostolanys Erbe schrieb am 11.05.2015, 14:12 Uhr[/url]"]NGN halted!!!
[url=http://peketec.de/trading/viewtopic.php?p=1521602#1521602 schrieb:
Kostolanys Erbe schrieb am 20.10.2014, 22:33 Uhr[/url]"]
NGN auf meine WL genommen:
http://www.newmarketgoldinc.com/s/Home.asp
Präsentation:
http://www.newmarketgoldinc.com/i/pdf/ppt/2014-Sept-Newmarket-Gold-Corporate-Presentation.pdf
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