News Article | April 17, 2017
The US dollar abruptly reversed and moved higher last week, finishing up 0.8 points to close at 100.2 on the Dollar Index. The US dollar remains at a critical technical juncture, and as the currency typically has an overwhelming impact on gold prices over the short-term, we place our primary attention there this week. After seeming to break down during the overnight hours in Asia a week ago, the US dollar abruptly reversed and moved higher last week, finishing up 0.8 points to close at 100.2 on the dollar index. The dollar is whipsawing traders at present and is caught immediately in the crosshairs of an important technical battle. Despite the failure to follow-through in last week’s breakdown, the dollar remains within the zone of former support, which may now act as resistance, beneath 100.5 on the index. This zone is shown in black. The important point about the short-term technical picture is that the dollar has now put in three separate lower lows (99.5, 99.2, and 98.8) since the breakout from the 2015 – 2016 consolidation. This is not the sign of a market prepared to make another multi-year advance. The bids at the retest lows we observe (below 99.5) are not enthusiastic; rather, they are fading as time progresses. In a strong breakout of a multi-year consolidation, we might indeed expect one or two retests of the former resistance zone. Yet following these retests, a market should move strongly higher to hit the consolidation target (which was calculated as 108 on the dollar index). We have seen no such strength in the dollar since its breakout. Instead, we have seen three retests – each one occurring lower than the prior. If the dollar does somehow manage to rally at this juncture – perhaps by some jawboning statement by the Federal Reserve about a “strong dollar policy” – we expect the US currency could stage a marginal final rally toward the aforementioned 108 target. If this does materialize, we expect to see precious metals not sell-off materially, but instead to show relative strength – perhaps consolidating with slight downward bias – as the dollar makes its terminal advance. Essentially, the precious metals should anticipate that the dollar is in the final stages of its advance, whether or not the exact top print has already been posted. In retrospect – this is exactly what gold and silver have done thus far during the past 15 months. Gold is up nearly $200 and silver up $4.50 even as the dollar is just shy of a 9-year high. We suspect buyers have entered the precious metals market ahead of time, knowing that the dollar was approaching an important multi-year top. The next few weeks continue to be critical to monitor for the dollar. On the chart above we can see that the US currency is now “sandwiched” between its rising (blue) trendline from the May 2016 low and its falling short-term trendline (teal) from the January high, all the while sitting squarely within the 2015 – 2016 resistance zone (black double lines). This is a tight technical situation indeed. Gold advanced nominally last week, rising $2.70 or 0.2% to close at $1,251 as of the final trade on the New York COMEX on Friday afternoon. Minor resistance was seen as anticipated below $1,265. The high trade for the week came in at $1,262. Minor support levels exist at $1,200 and $1,180. The near-term technical situation remains largely unchanged from our most recent update, and is focused upon the resolution of the pennant formation (red highlight) visible on the chart above. As this pattern is drawing closer to a resolution, we will begin to regularly track the precise figures which would constitute a breakout in either direction. Those levels are: Whichever of these boundaries breaks first, the resolution of this pattern will set the stage for the direction of the entire precious metals market for the subsequent 12-18 months. It will be an exciting remainder to 2017 to say the least! Christopher Aaron has been trading in the commodity and financial markets since the early 2000's. He began his career as an intelligence analyst for the Central Intelligence Agency, where he specialized in the creation and interpretation of the pattern of life mapping in Afghanistan and Iraq. Technical analysis shares many similarities with mapping: both are based on the observations of repeating and imbedded patterns in human nature. His strategy of blending behavioral and technical analysis has helped him and his clients to identify both long-term market cycles and short-term opportunities for profit.
News Article | April 17, 2017
The next 2-3 trading weeks will set the trajectory for gold price for the remainder of 2017. Early indicators suggest the eventual outcome will be higher. Gold is inching ever closer to a resolution of the primary converging pattern that we have been monitoring for the last six months. The resolution of this pattern is going to define the trajectory for the precious metals market into 2018, so it continues to deserve our foremost attention. We have supporting indicators from other markets, but we should always evaluate gold as a distinct entity. The price action over the last week has been encouraging, although not yet decisive. For the week, gold finished higher by 2.5% or $31, to close at $1,288 as of the final trade on the New York COMEX late Friday afternoon. There are two significant technical concerns at this juncture. Please reference the updated 18-month gold chart below: High volume reversals are near-universally never exceeded on the first attempt to overcome them. The reason for this is the sheer number of gold buyers who purchased futures contracts that day and are now underwater, and who then desire to sell at break-even when the price matches their entry level. Again, gold’s November 9 reversal saw the highest ever daily volume in gold trading history, and so barring an outbreak of major international war, we place the odds of gold exceeding the $1,310 - $1,337 Trump Reversal Resistance at near-zero on its first attempt. Yes, international tensions are on the rise, as can be seen over the last two weeks with the United States retaliation against Syria; the US dropping the largest non-nuclear bomb ever detonated against ISIS in Afghanistan; continued saber-rattling between North Korea, China, and the US; and uncertainty regarding Russian support for Syria. Yet unless world superpowers are literally on the edge of World War III – an event we see as a low probability – the two technical resistance levels referenced above are the ones that will exert primary influence on the gold market here and now. This week we noticed early warning trend indicators coming from the gold mining complex. Note in the chart below how the senior gold miners index (HUI) has broken out through its similarly-shaped converging pattern (blue lines). At this juncture, it appears that the miners are hinting that strength is to be expected in gold bullion itself. The pending breakout pattern for gold will be important because the initial target of the breakout is calculated to be equal to the 2016-2017 consolidation amplitude: roughly $330 ($1,378 - $1,045, rounded down). As gold’s consolidation reaches an apex at $1,205 (see far right, gold chart page 1), the gold target for a breakout is $1,535 within 6-12 months. The timing for gold’s next advance therefore depends on when it indeed breaks its long-term downtrend. Two scenarios are thus illustrated on the chart (page 1) above, highlighted in green and orange/red. The next 2-3 trading weeks will set the trajectory for the remainder of 2017. A strong advance through the declining long-term downtrend sets the stage for a first challenge of the Trump Reversal Resistance zone, which should be followed by a retest of the broken line. We then expect a strong impulsive advance to target new highs for gold in 2018. Conversely, a rejection at the long-term downtrend means gold must continue to consolidate within its primary converging pennant for Q2 – Q3. Early indicators suggest the eventual outcome will be higher, although a low-probability resolution to the downside must be monitored until proven otherwise. Christopher Aaron has been trading in the commodity and financial markets since the early 2000's. He began his career as an intelligence analyst for the Central Intelligence Agency, where he specialized in the creation and interpretation of the pattern of life mapping in Afghanistan and Iraq. Technical analysis shares many similarities with mapping: both are based on the observations of repeating and imbedded patterns in human nature. His strategy of blending behavioral and technical analysis has helped him and his clients to identify both long-term market cycles and short-term opportunities for profit.
News Article | April 24, 2017
WiseGuyReports.Com Publish a New Market Research Report On – “HBOT Chamber Market by Manufacturers,Types,Regions and Applications Research Report Forecast to 2022”.Pune, India - April 24, 2017 /MarketersMedia/ — This report studies the HBOT Chamber market status and outlook of global and major regions, from angles of manufacturers, regions, product types and end industries; this report analyzes the top manufacturers in global and major regions, and splits the HBOT Chamber market by product type and applications/end industries. The global HBOT Chamber market is valued at XX million USD in 2016 and is expected to reach XX million USD by the end of 2022, growing at a CAGR of XX% between 2016 and 2022. Get a Sample Report @ https://www.wiseguyreports.com/sample-request/1217857-2012-2022-report-on-global-hbot-chamber-market-competition-status-and For more information or any query mail at firstname.lastname@example.org The major players in global HBOT Chamber market include Sechrist Industries (US) ETC BIOMEDICAL SYSTEMS (US) OxyHeal Health Group (US) Gulf Coast Hyperbarics (US) Fink Engineering (AU) HAUX-LIFE-SUPPORT (DE) Hearmec (JP) Hyperbaric SAC (PE) IHC Hytech (NL) Perry Baromedical (US) Hipertceh Hyperbaric (TR) COMEX (FR) GAUMOND MEDICAL GROUP INC. (CA) Oxavita - Revitalair (AR) Tekna Manufacturing (US) SMP LTD (UK) Submarine Manufacturing & Products Ltd (UK) Mediconet (KR) Oxygen Generating Systems Intl (US) Medical Equipment and Consumer Goods Plant (RU) Baromedic Healthcare Pvt. Ltd (IN) 02Life (AU) Oxynova (CA) Veterinary Hyperbaric Oxygen-VHO2 (US) ONTARIO HBOT Inc (CA) AHA Hyperbarics GmbH (DE) Hongyuan (CN) Huaxin (CN) Binglun (CN) Dongke (CN) Source: Annual Reports, Secondary Information, Press Releases, Expert Interviews and QYResearch, Apr 2017 Geographically, this report is segmented into several key Regions, with production, consumption, revenue, market share and growth rate of HBOT Chamber in these regions, from 2012 to 2022 (forecast), covering North America EU China Japan Southeast Asia India South America Middle East and Africa On the basis of product, the HBOT Chamber market is primarily split into By Capacity (Monoplace/Multiplace Types) By Installation (Mobile/Fixed Types) On the basis on the end users/applications, this report covers Hospital Use Home Use Others Complete Report Details @ https://www.wiseguyreports.com/reports/1217857-2012-2022-report-on-global-hbot-chamber-market-competition-status-and Table Of Contents – Major Key Points Global HBOT Chamber Market Research Report 2017 1 HBOT Chamber Market Overview 1.1 Product Overview and Scope of HBOT Chamber 1.2 HBOT Chamber Segment by Types (Product Category) 1.2.1 Global HBOT Chamber Production (K Units) and Growth Rate (%) Comparison by Types (2012-2022) 1.2.2 Global HBOT Chamber Production Market Share (%) by Types in 2016 1.2.3 By Capacity (Monoplace/Multiplace Types) 1.2.4 By Installation (Mobile/Fixed Types) 1.3 Global HBOT Chamber Segment by Applications 1.3.1 Global HBOT Chamber Consumption (K Units) Comparison by Applications (2012-2022) 1.3.2 Hospital Use 1.3.3 Home Use 1.3.4 Others 1.4 Global HBOT Chamber Market by Regions (2012-2022) 1.4.1 Global HBOT Chamber Market Size and Growth Rate (%) Comparison by Regions (2012-2022) 1.4.2 North America HBOT Chamber Status and Prospect (2012-2022) 1.4.3 China HBOT Chamber Status and Prospect (2012-2022) 1.4.4 Europe HBOT Chamber Status and Prospect (2012-2022) 1.4.5 Japan HBOT Chamber Status and Prospect (2012-2022) 1.5 Global HBOT Chamber Market Size (2012-2022) 1.5.1 Global HBOT Chamber Revenue Status and Outlook (2012-2022) 1.5.2 Global HBOT Chamber Production (K Units) Status and Outlook (2012-2022) 2 Global HBOT Chamber Market Competition by Manufacturers 2.1 Global HBOT Chamber Production and Share by Manufacturers (2012-2017) 2.2 Global HBOT Chamber Revenue and Share by Manufacturers (2012-2017) 2.3 Global HBOT Chamber Average Price by Manufacturers (2012-2017) 2.4 Manufacturers HBOT Chamber Manufacturing Base Distribution, Sales Area, Product Types 2.5 HBOT Chamber Market Competitive Situation and Trends 2.5.1 HBOT Chamber Market Concentration Rate 2.5.2 HBOT Chamber Market Share (%) of Top 3 and Top 5 Manufacturers 2.5.3 Mergers & Acquisitions, Expansion …….. 7 Global HBOT Chamber Manufacturers Profiles/Analysis 7.1 Sechrist Industries (US) 7.1.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors 7.1.2 HBOT Chamber Product Category, Application and Specification 126.96.36.199 Product A 188.8.131.52 Product B 7.1.3 Sechrist Industries (US) HBOT Chamber Production (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) 7.1.4 Main Business/Business Overview 7.2 ETC BIOMEDICAL SYSTEMS (US) 7.2.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors 7.2.2 HBOT Chamber Product Category, Application and Specification 184.108.40.206 Product A 220.127.116.11 Product B 7.2.3 ETC BIOMEDICAL SYSTEMS (US) HBOT Chamber Production (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) 7.2.4 Main Business/Business Overview 7.3 OxyHeal Health Group (US) 7.3.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors 7.3.2 HBOT Chamber Product Category, Application and Specification 18.104.22.168 Product A 22.214.171.124 Product B 7.3.3 OxyHeal Health Group (US) HBOT Chamber Production (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) 7.3.4 Main Business/Business Overview 7.4 Gulf Coast Hyperbarics (US) 7.4.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors 7.4.2 HBOT Chamber Product Category, Application and Specification 126.96.36.199 Product A 188.8.131.52 Product A 7.4.3 Gulf Coast Hyperbarics (US) HBOT Chamber Production (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) 7.4.4 Main Business/Business Overview 7.5 Fink Engineering (AU) 7.5.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors 7.5.2 HBOT Chamber Product Category, Application and Specification 184.108.40.206 Product A 220.127.116.11 Product B 7.5.3 Fink Engineering (AU) HBOT Chamber Production (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) 7.5.4 Main Business/Business Overview 7.6 HAUX-LIFE-SUPPORT (DE) 7.6.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors 7.6.2 HBOT Chamber Product Category, Application and Specification 18.104.22.168 Product A 22.214.171.124 Product B 7.6.3 HAUX-LIFE-SUPPORT (DE) HBOT Chamber Production (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) 7.6.4 Main Business/Business Overview 7.7 Hearmec (JP) 7.7.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors 7.7.2 HBOT Chamber Product Category, Application and Specification 126.96.36.199 Product A 188.8.131.52 Product B 7.7.3 Hearmec (JP) HBOT Chamber Production (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) 7.7.4 Main Business/Business Overview Continued……. For more information or any query mail at email@example.com Buy 1-User PDF @ https://www.wiseguyreports.com/checkout?currency=one_user-USD&report_id=1217857 ABOUT US: Wise Guy Reports is part of the Wise Guy Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe. Wise Guy Reports features an exhaustive list of market research reports from hundreds of publishers worldwide. We boast a database spanning virtually every market category and an even more comprehensive collection of rmaket research reports under these categories and sub-categories. Contact Info:Name: Norah TrentEmail: firstname.lastname@example.orgOrganization: WiseGuy Research Consultants Pvt Ltd.Address: Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar Pune - 411028Phone: +1-646-845-9349 Source URL: http://marketersmedia.com/hbot-chamber-market-by-manufacturerstypesregions-and-applications-research-report-forecast-to-2022/189544For more information, please visit https://www.wiseguyreports.comSource: MarketersMediaRelease ID: 189544
News Article | May 3, 2017
HIGHLAND HEIGHTS, Ky.--(BUSINESS WIRE)--General Cable Corporation (NYSE: BGC) reported today results for the first quarter ended March 31, 2017. For the quarter, reported diluted earnings per share were $0.24 and reported operating income was $24 million. The Company generated adjusted earnings per share for the quarter of $0.27 and adjusted operating income of $45 million. See pages 2 and 3 of this press release for the reconciliation of reported to adjusted results and related disclosures. Michael T. McDonnell, President and Chief Executive Officer, said, “ We’re very pleased with our strong first quarter results. First quarter adjusted operating income was above expectations driven in part by the execution of our strategic initiatives in North America and substantial improvement in Latin America. We continue to be encouraged with the progress of North America as we execute our strategic roadmap. We expect to see improvement in Europe through the remainder of 2017 as we are continuing to address delays in a European restructuring project while also driving favorable performance in our land turn-key project business and improved backlog in our subsea project business. Overall, we are moving our businesses forward despite declines in certain key end markets over the recent past, and we maintain a positive outlook on our ability to execute against our roadmap in 2017.” North America – Unit volume was even with the prior year as stronger demand for construction and industrial and specialty (I&S) products was offset by lower demand for rod products. Overall in the first quarter of 2017, demand for our products in construction and I&S markets was up 18% and 6%, respectively, year over year. Demand year over year for electric utility products was stable. Europe – Unit volume was relatively flat as stronger demand for electric utility products including land-based turnkey projects as well as energy cables helped to offset the easing performance of the Company’s submarine turnkey project business and continued weak demand for industrial and construction projects throughout the region. Latin America – Unit volume remained relatively flat as increased shipments of aerial transmission cables in Brazil were offset by the continued pressure across the portfolio driven by uneven spending on electric infrastructure and construction projects. At the end of the first quarter of 2017 and the end of the fourth quarter of 2016, total debt was $1,053 million and $939 million, respectively, and cash and cash equivalent was $83 million and $101 million, respectively. The increase in net debt was principally due to investment in working capital, partly due to rising metal prices, and payments of $33 million related to our FCPA resolution. Revenues in the second quarter are expected to be in the range of $925 to $975 million. Unit volume is anticipated to be up low-single digits year over year. Reported operating income is anticipated to be in the range of $20 to $35 million and adjusted operating income is anticipated to be in the range of $30 to $45 million for the second quarter. Reported diluted earnings per share are anticipated to be in the range of $0.05 to $0.20 per share and adjusted earnings per share are expected to be in the range of $0.15 to $0.30 per share for the second quarter. The second quarter outlook assumes copper (COMEX) and aluminum (LME) prices of $2.60 and $0.88, respectively. Foreign currency exchange rates are assumed constant in the second quarter outlook. The second quarter outlook for adjusted operating results does not include results from Asia Pacific and Africa. Adjusted operating income (defined as operating income before extraordinary, nonrecurring or unusual charges and other certain items), adjusted earnings per share (defined as diluted earnings per share before extraordinary, nonrecurring or unusual charges and other certain items) and net debt (defined as long-term debt plus current portion of long-term debt less cash and cash equivalents) are “non-GAAP financial measures” as defined under the rules of the Securities and Exchange Commission. Metal-adjusted revenues, and return on metal-adjusted sales on a segment basis, non-GAAP financial measures, are also provided herein. See “Segment Information.” These Company-defined non-GAAP financial measures exclude from reported results those items that management believes are not indicative of our ongoing performance and are being provided herein because management believes they are useful in analyzing the operating performance of the business and are consistent with how management reviews our operating results and the underlying business trends. Use of these non-GAAP measures may be inconsistent with similar measures presented by other companies and should only be used in conjunction with the Company’s results reported according to GAAP. Historical segment adjusted operating results are disclosed in the First Quarter 2017 Investor Presentation available on the Company’s website. A reconciliation of GAAP operating income (loss) and diluted earnings (loss) per share to adjusted operating income and earnings per share follows: The following reconciliation of estimated operating income and diluted earnings per share to adjusted operating income and adjusted earnings per share for the second quarter of 2017 contains forward-looking information. All forward-looking information involves risks and uncertainties. Actual results may differ materially from those contemplated by the forward-looking information as a result of factors, risks and uncertainties over many of which we have no control. See “Cautionary Statement Concerning Forward-Looking Statements” at the end of this press release. General Cable will discuss first quarter results on a conference call that will be broadcast live at 8:30 a.m., ET, on May 4, 2017. The live webcast of the Company’s conference call will be available in listen only mode and can be accessed through the Investor Relations page on our website at www.generalcable.com. Also available on our website is a copy of an Investor Presentation that will be referenced throughout the conference call. General Cable Corporation (NYSE:BGC) is a global leader in the development, design, manufacture, marketing and distribution of copper, aluminum and fiber optic wire and cable products and systems for the energy, industrial, specialty, construction and communications markets. Visit our website at www.generalcable.com. Certain statements in this press release are forward-looking statements that involve risks and uncertainties, predict or describe future events or trends and that do not relate solely to historical matters. Forward looking statements include, among others, expressed expectations with regard to the following: “believe,” “expect,” “may,” “will,” “anticipate,” “intend,” “estimate,” “project,” “plan,” “assume,” “seek to” or other similar expressions, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those discussed in forward-looking statements as a result of factors, risks and uncertainties over many of which we have no control. These factors include, but are not limited to: the economic strength and competitive nature of the geographic markets that the Company serves; our ability to increase manufacturing capacity and productivity; our ability to increase our selling prices during periods of increasing raw material costs; our ability to service, and meet all requirements under, our debt, and to maintain adequate domestic and international credit facilities and credit lines; our ability to establish and maintain internal controls; the impact of unexpected future judgments or settlements of claims and litigation; the impact of foreign currency exchange rate fluctuations; the impact of future impairment charges; compliance with U.S. and foreign laws, including the Foreign Corrupt Practices Act; our ability to achieve the anticipated cost savings, efficiencies and other benefits related to our restructuring program and other strategic initiatives, including our plan to exit all of our Asia Pacific and African operations, and the other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission (“SEC”), including but not limited to, its annual report on Form 10-K filed with the SEC on February 24, 2017, and subsequent SEC filings. You are cautioned not to place undue reliance on these forward-looking statements. General Cable does not undertake, and hereby disclaims, any obligation, unless required to do so by applicable securities laws, to update any forward-looking statements as a result of new information, future events or other factors.
News Article | April 26, 2017
MIAMI, April 26, 2017 (GLOBE NEWSWIRE) -- Republic Metals Corporation made a charitable donation to Vets Helping Heroes, a not-for-profit organization that raises funds to sponsor the training of assistance dogs for disabled American veterans and active-duty military personnel recovering from the physical and psychological challenges they suffer as a result of their service to our country. The assistance dogs become a source of much-needed enjoyment for the family members, and provide greater independence to their disabled owners, with specialized skills such as the ability to warn of an oncoming seizure up to ten minutes before one takes place. Private donors, like Republic Metals Corporation, are the main source of support for Vets Helping Heroes, and private donations like the one made by Republic Metals Corporation, have contributed to the millions of dollars used to train and place 125 dogs with veterans and active-duty personnel in need. Republic Metals, in continuing its responsibility as a Department of Defense-recognized “Patriotic Employer,” is committed to supporting United States active military personnel and veterans, and encourages all who have the financial ability, to please visit the Vets Helping Heroes website to donate. Headquartered in Miami, Republic Metals was established in 1980 and has since grown to become one of the largest and most respected primary precious metals refineries in the world. Throughout its illustrious history, Republic Metals has displayed excellence in precious metals refining in a manner that is considered environmentally friendly, as demonstrated through its long-standing ISO14001 registration. Republic Metals currently holds listings on the LBMA, Shanghai Gold Exchange, and COMEX with recognitions from the Responsible Jewellery Council, Conflict Free Smelter Initiative, and Ethical Alliance. As an LBMA-designated “Responsible Gold Party,” all business conducted by Republic Metals is performed in accordance with its stringent Patriot Act compliance and supply chain policies. A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/1e9c5064-79f2-40f3-b17f-92b6c6c509da
News Article | May 5, 2017
Miami, Florida, May 05, 2017 (GLOBE NEWSWIRE) -- Lindsey Rubin, Secretary of Republic Metals Corporation, spoke on technological alchemy, ethical sourcing and responsible business practices at the Seventh Annual International Gold Conference, hosted by Initiatives in Art and Culture in New York City on Thursday, April 27th. The event took a comprehensive look at gold, with a focus on jewelry; it explored the underpinnings of gold's abiding emotional power, allure, and enduring value. Mrs. Rubin sat on a panel discussion about the different transformations of gold, and on another panel addressing the topics of ethical sourcing, transparency, and responsible practices relating to gold, where she outlined Republic’s narrow sourcing model. “Republic Metals’ proprietary refining techniques allow us to offer end-consumers the ability to trace the chain-of-custody of their material back to the originating mine,” said Mrs. Rubin. “I was honored to share this new initiative with an audience of talented and brilliant leaders of social change who understand the importance of responsible sourcing and ethical business practices.” About Initiatives in Art and Culture “Initiatives in Arts and Culture (IAC) educates diverse audiences in the fine, decorative, and visual arts. Our primary activities are conferences, publications, and exhibitions that take an interdisciplinary approach, considering issues related to fabrication, connoisseurship, cultural patrimony, cultural preservation, and the future of culture. Particular areas of emphasis include American painting, precious substances, the history of frames, the Arts and Crafts movement, the influence of Asian cultures on American fine and decorative art, and the history and future of fashion. IAC’s projects have been supported by a wide array of individual, corporate, and foundation funders.”1 Headquartered in Miami, Republic Metals was established in 1980 and has since grown to become one of the largest and most respected primary precious metals refineries in the world. Throughout its illustrious history, Republic Metals has displayed excellence in precious metals refining in a manner that is considered environmentally friendly, as demonstrated through its long-standing ISO14001 registration. Republic Metals currently holds listings on the LBMA, Shanghai Gold Exchange, and COMEX with recognitions from the Responsible Jewellery Council, Conflict Free Smelter Initiative, and Ethical Alliance. As an LBMA-designated “Responsible Gold Party,” all business conducted by Republic Metals is performed in accordance with its stringent Patriot Act compliance and supply chain policies. A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/af8cd53f-0404-4c55-9c4c-47df955d1c1c A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/cd2e8202-8bd5-47b4-8583-4144bbbfed95
News Article | February 22, 2017
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 22, 2017) - FIRST MAJESTIC SILVER CORP. (FRANKFURT:FMV)(TSX:FR)(NYSE:AG)(BVM:AG) (the "Company" or "First Majestic") is pleased to announce the consolidated financial results for the Company's fourth quarter and year ended December 31, 2016. The full version of the financial statements and the management discussion and analysis can be viewed on the Company's website at www.firstmajestic.com, on SEDAR at www.sedar.com and EDGAR at www.sec.gov. All amounts are in U.S. dollars unless stated otherwise. "First Majestic delivered yet another record year of production, realizing the high end of our annual production guidance of 18.7 million silver equivalent ounces while achieving an all-in sustaining cost of $10.79 per ounce that came in well below our cost guidance range of $11.50 to $12.35 per ounce," said Keith Neumeyer, President and CEO of First Majestic. "Our operating cash flows were more than sufficient to internally fund our capital expenditures program in addition to strengthening our treasury to $129.0 million at year end, the highest balance in the Company's history. The cash flows currently being generated are being reinvested in our 2017 budget which is expected to result in production growth in 2018. The key areas of focus in 2017 are the construction of the roasting system at the La Encantada mine and the exploration and development programs at both the La Guitarra mine and the Plomosas project." Full year revenues achieved a new record of $278.1 million, an increase of $58.7 million or 27% compared to 2015, primarily due to a 16% increase in total production and the increase in silver prices. The Company realized an average silver price of $17.16 per ounce in 2016, slightly beating the COMEX annual silver price average of $17.10 per ounce and representing a 7% increase compared to 2015. Annual mine operating earnings totaled $49.2 million, an increase of 464% compared to $8.7 million in 2015. The increase in mine operating earnings was primarily driven by record-breaking production, lower production costs and higher silver prices. The Company generated net earnings of $8.6 million (earnings per share of $0.05) in 2016 compared to a net loss of $108.4 million (loss per share of $0.84) in 2015. In 2015, the Company recorded an impairment charge of $108.4 million, or $70.2 million net of tax, on certain operations and development projects due to the decline in market consensus on long-term silver price forecasts during 2015 and the consequential impact on the Company's Reserves and Resources. Adjusted EPS normalized for non-cash or unusual items, such as impairment of non-current assets, deferred income tax expense or recovery and share-based payments was $0.12 per share in 2016. Cash flows before movements in working capital and taxes increased by 80% to $107.3 million ($0.67 per share) compared to the prior year primarily due record production output and higher silver prices. Cash flows were also more than sufficient to fully fund the Company's capital budget program. The Company ended 2016 with a record $129.0 million in cash and cash equivalents compared to $51.0 million at the end of 2015. In addition, the Company ended the year with a surplus in working capital of $130.6 million compared to $15.6 million at the end of 2015. Revenues generated in the fourth quarter of 2016 totaled $66.2 million, representing a slight increase compared to $66.0 million in the fourth quarter of 2015. The Company realized an average silver price of $17.10 per ounce, relatively in line with the COMEX quarterly silver price average of $17.12 per ounce and representing a 12% increase compared with the fourth quarter of 2015. Mine operating earnings were $9.9 million compared to $3.9 million in the fourth quarter of 2015. The increase was driven by the increase in silver prices, partially offset by a 9% decrease in production. The Company generated net earnings of $1.8 million (earnings per share of $0.01) compared to a net loss of $103.0 million (loss per share of $0.66) in the fourth quarter of 2015. Adjusted for non-cash or unusual items such as impairment of non-current assets, deferred income tax expense or recovery and share-based payments, the Company reported a loss of $0.01 per share. Cash flows before movements in working capital and income taxes were $23.4 million ($0.14 per share), compared to $17.5 million ($0.11 per share) in the fourth quarter of 2015. The Company produced a record 11.9 million ounces of silver in 2016, near the high end of the revised guidance and representing a 6% increase compared to 11.1 million ounces produced in the previous year. The increase was primarily attributed to the addition of the Santa Elena mine for the full year, partially offset by lower production from Del Toro and San Martin, both of which lowered throughput to focus on mining profitable ounces. Total production in 2016 reached a record of 18.7 million silver equivalent ounces, also near the high end of the 2016 guidance, representing an increase of 16% compared to the previous year. The increase in production was primarily attributed to incremental production from Santa Elena, partially offset by lower by-product production from Del Toro and La Parrilla. Cash cost per ounce in the year was $5.92, a decrease of 25% or $1.95 per ounce compared to the previous year and within the Company's guidance. The decrease in cash cost per ounce was attributed to ongoing company-wide cost reduction efforts and a focus on producing profitable ounces, a decrease in smelting and refining costs as a result of renegotiated sales agreements that were effective on July 1, 2016, and weakening of the Mexican pesos against the U.S. dollar. AISC per ounce in 2016 was $10.79, a decrease of 20% or $2.64 per ounce compared to the previous year and is below the revised annual guidance of $11.50 to $12.35 per ounce. The decrease in AISC per ounce was reflective of the Company's ongoing effort to reduce production costs, weakening of the Mexican pesos against the U.S. dollar, as well as the addition of the Santa Elena mine to the Company's portfolio of assets, which became the Company's lowest cost mine. The Company's total capital expenditures in 2016 was $65.9 million, an increase of 6% compared to the prior year, primarily consisting of $15.2 million at Santa Elena, $10.0 million at La Encantada, $11.5 million at Del Toro, $11.1 million at La Parrilla, $6.4 million at San Martin and $9.0 million at La Guitarra. The investments consisted of underground development, exploration, construction and expansion projects and acquisitions of new mining equipment. As previously announced, the Company plans to invest a total of $124.0 million on capital expenditures in 2017 consisting of $46.2 million for sustaining requirements and $77.8 million for expansionary projects. The Company is preparing for future production growth by developing additional mine production levels at each of the Company's operations, preparing for the upcoming expansion at La Guitarra, completing the roasting circuit and preparing for block caving at La Encantada, in addition to the exploration work at Plomosas which is expected to result in a new Preliminary Economic Assessment in 2018. In the fourth quarter, the Company produced 2.8 million ounces of silver, a decrease of 9% compared to the previous quarter, primarily due to a 9% decrease in average silver grade. Total production reached 4.4 million silver equivalent ounces in the fourth quarter, representing a decrease of 3% compared to the previous quarter. The decrease in silver grades is primarily due to lower grades at Del Toro in the month of October due to limited production at the high grade Dolores mine. As a result, the Company increased production rates at the San Juan mine to offset the decrease. Beginning in November, production at the Dolores mine returned to normal operating levels. Average silver grade at La Encantada also decreased 9% compared to the prior quarter primarily due to the continued blending of ore from old stopes, stockpiles and the recovery of pillars. Grades are expected to improve towards the end of 2017 following the start of block caving production within the San Javier Breccia. Cash cost per ounce in the quarter was $6.49, an increase of 11% or $0.65 per ounce compared to the previous quarter. The increase in cash cost per ounce was primarily the result of lower silver grades leading to lower silver production and higher mining contractor costs attributed to ore development activities at the Santa Elena mine. All-in sustaining cost per ounce ("AISC") in the fourth quarter was $12.90, an increase of 23% or $2.38 per ounce compared to the previous quarter. The increase in AISC was primarily attributed to an increase in sustaining capital expenditures to catch up with program targets in addition to higher cash cost per ounce. Capital expenditures in the fourth quarter were $25.7 million, an increase of 24% compared to the prior quarter, primarily consisting of $3.2 million at Santa Elena, $5.6 million at La Encantada, $4.0 million at Del Toro, $5.0 million at La Parrilla, $2.2 million at San Martin and $4.3 million at La Guitarra. In the fourth quarter of 2016, the Company entered into two option agreements to acquire additional mining concessions around the Del Toro and Santa Elena mines. In October 2016, the Company entered into an agreement to acquire an additional 7,205 hectares of mining concessions near Del Toro for the total purchase price of $1.5 million, payable over six equal payments every six months, with $0.3 million having been paid as of December 31, 2016. In addition, the Company entered into an option agreement in December 2016 with Compania Minera Dolores, S.A. de C.V., a subsidiary of Pan American Silver Corp., to acquire 5,802 hectares of mining concessions adjacent to the Santa Elena mine. In exchange, First Majestic has agreed to incur $1.6 million in exploration costs on the property over four years, a 2.5% NSR royalty on the related concessions, and to pay $1.4 million in cash, of which $0.1 million was due on or before the date of agreement (paid), $0.2 million in December 2017, $0.2 million in December 2018, $0.3 million in December 2019 and $0.7 million in December 2020, respectively. The Company will be holding a conference call and webcast on Wednesday, February 22, 2017 at 10 am PDT (1 pm EDT). To participate in the conference call, please dial the following: Participants should dial in 10 minutes prior to the conference. Click on WEBCAST on the First Majestic homepage as a simultaneous audio webcast of the conference call will be posted at www.firstmajestic.com. The conference call will be recorded and you can listen to an archive of the conference by calling: The replay will be available approximately one hour after the conference and will available for seven days following the conference. The replay will also be available on the Company's website for one month. First Majestic is a mining company focused on silver production in Mexico and is aggressively pursuing the development of its existing mineral property assets. The Company presently owns and operates six producing silver mines; the La Parrilla Silver Mine, the San Martin Silver Mine, the La Encantada Silver Mine, the La Guitarra Silver Mine, Del Toro Silver Mine and the Santa Elena Silver/Gold Mine. Production from these six mines is projected to be between 11.1 to 12.4 million ounces of pure silver or 16.6 to 18.5 million ounces of silver equivalents in 2017. This news release includes certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "schedule" and similar words or expressions, identify forward-looking statements or information. These forward-looking statements or information relate to, among other things: the price of silver and other metals; the accuracy of mineral reserve and resource estimates and estimates of future production and costs of production at our properties; estimated production rates for silver and other payable metals produced by us, the estimated cost of development of our development projects; the effects of laws, regulations and government policies on our operations, including, without limitation, the laws in Mexico which currently have significant restrictions related to mining; obtaining or maintaining necessary permits, licences and approvals from government authorities; and continued access to necessary infrastructure, including, without limitation, access to power, land, water and roads to carry on activities as planned. These statements reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or information and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: fluctuations in the spot and forward price of silver, gold, base metals or certain other commodities (such as natural gas, fuel oil and electricity); fluctuations in the currency markets (such as the Canadian dollar and Mexican peso versus the U.S. dollar); changes in national and local government, legislation, taxation, controls, regulations and political or economic developments in Canada, Mexico; operating or technical difficulties in connection with mining or development activities; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins and flooding); risks relating to the credit worthiness or financial condition of suppliers, refiners and other parties with whom the Company does business; inability to obtain adequate insurance to cover risks and hazards; and the presence of laws and regulations that may impose restrictions on mining, including those currently enacted in Mexico; employee relations; relationships with and claims by local communities and indigenous populations; availability and increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses, permits and approvals from government authorities; diminishing quantities or grades of mineral reserves as properties are mined; the Company's title to properties; and the factors identified under the caption "Risk Factors" in the Company's Annual Information Form, under the caption "Risks Relating to First Majestic's Business". Investors are cautioned against attributing undue certainty to forward-looking statements or information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.
News Article | March 1, 2017
Radixweb, leading IT Outsourcing and Software Development Company, announced that it will be a part of COMEX 2017 in Oman from 28th to 30th March. Radixweb team is confident that booth 917 will become a beehive of activity for visitors who seek to redefine business approach, accelerate revenue growth and want to lead the race. To make most of personalized consultation COMEX Oman 2017 visitors can book an appointment now. COMEX Oman signifies to be one of the most awaited premier events in the Middle East, as it is an ideal confluence of IT, Telecom and emerging technology on a single platform. Spurred by the rapid growth in IT, the entire Middle East region is looking forward to make the right IT investment decision and choose the right partner. To tap this very sentiment of COMEX this year, Radixweb is highly focused on showcasing cutting-edge technologies and proven processes tailored for Middle East region and help visitors gain the best out of IT and transform business. Full Spectrum of Showstopper Exhibits by Radixweb for COMEX 2017: Enterprise Software Development: Entire range of bespoke development services to convert ideas into reality Enterprise Mobility: Evolve beyond ‘mobile first’ approach and imbibe mobile-driven strategies using EMM Application Modernization: Re-engineer legacy systems to adopt cloud and latest technology platforms to stay a step ahead Cloud Computing & Consulting: Leverage best of clouds to deliver greater user experiences Microsoft Dynamics CRM: Add more value and power to specific business needs with Dynamics 365 At COMEX, Radixweb’s best tech-driven trio of Pratik Mistry (Sr. Business Head), Maitray Gadhavi and Nihar Raval (Sr. Business Development Managers) will be on the floor. “It is imperative for businesses to adapt the knack of changing technology and emerge as a winner- to meet complex customer demands. Radix, a globally trusted partner for IT consulting and strategy services, works as a perfect catalyst for enterprises to reduce cost of maintenance, increase flexibility and scalability. As we are in our hat trick year at COMEX, our team is fully geared up to give personalized consultation on how to leverage tech to attain sustainable growth for businesses and also meet our existing customers to strengthen their technology footprint”, says Mr. Pratik Mistry, Senior Business Head- Radixweb. “With each passing year, our association with COMEX and its attendees continues to grow fruitfully. Being a regular participant since last two years, we plan to help more visitors to resolve their constraints revolving around field service automation and cloud enablement- the in-trends of the technology landscape with our sought after solutions”, quips Gadhavi. Established in 2000, Radixweb is a leading software product development and IT Outsourcing services provider. The company delivers a complete range of IT services and enterprise-class solutions to clients from SMEs to fortune 500 companies across the globe. Radixweb key Service offerings include Bespoke Software Development, Embedded Software Development, Software Product Development, Web & Desktop Application Development, Application Performance Optimization and more. Due to consistent and reliable service delivery, the company earned credentials like Microsoft Gold Partner, Top Enterprise Software Development firm 2016 & Top .Net Developers 2016 by Clutch, Kentico Bronze Partner, nopCommerce Partner, ISO Certification for quality processes and Adobe Solutions Partner. For details, please visit http://simplified-it-outsourcing.com
News Article | February 20, 2017
Based on the recent analysis, we can conclude that gold itself still has further room to run over the intermediate timeframe. There are several unique signals showing us that – barring minor intra-week corrections that could occur at any time – gold is set to move higher toward the $1,300 region before any more significant retracement may be due. To arrive at this target, we examine both the relative strength of the gold mining complex and also the price action in silver. Based on analysis of these related but separate markets, we can conclude that gold itself still has further room to run over the intermediate time frame. Let us begin by examining the relative strength of the gold-mining sector versus the price action of gold bullion itself. Below we show the GDX large-cap gold mining fund on top with the price of gold immediately below it – stripped of all our typical annotations for a direct examination of relative performance. The top green band shows that the gold miners are now back to a resistance level between 25-26 on the GDX fund, which was previously reached both last August and immediately following the Trump-victory in November. The two vertical grey bands correspond to these points in August and November. By following the bands downward, we can observe what the price of gold was the last time the mining sector was valued near 25-26 on the GDX fund. The last two times the GDX traded between 25-26, gold averaged $1,305 per ounce. The gold mining complex is intrinsically related to the price of the metal itself, as the sector’s profits are derived largely from spot bullion prices. Closing the week at $1,238 as of the last trade on the New York COMEX on Friday, the mining sector is already pricing in nearly a $67 per ounce increase in spot gold. To further the case for the $1,300 gold target, we turn next to the latest action in silver. As of Friday, we note that gold’s cousin rose for the 8th week in a row last week, rising 0.5% or $0.10 cents to finish at $18.03 as of the final bid in New York. We maintain a target of $18.75 for silver, based on the amplitude ($1.50) of the bottoming pattern observed prior to the breakout above $17.25 in late-January. It would be rare for silver to achieve a higher target without gold moving higher as well, and so the silver analysis that follows has direct implications for the $1,300 gold target referenced above. There is an important point that traders may wish to note on the silver chart. Our typical analysis is based on best-fit trend lines, to use the term from statistical analysis. However, as the highs composing the upper trend line do not fit perfectly (no trend lines ever will), and as we are anticipating a breakout with some volatility along the way, it would also be wise to identify an absolute-highs trend line. Such is indicated above on the silver chart by the lighter dashed blue line. Using an absolute-highs trend line, the declining primary trend would come in closer to $18.20. Which line is more relevant toward the breaking of silver’s downtrend and the establishment of a new period of rising prices? Generally, the breaking of a best-fit line is most critical. However, the absolute-highs line is important to keep in mind solely for the reason that some traders will be focusing on it. We should expect some traders to treat it as the defining trend line for the primary decline which began in July 2016. As such, some short-term selling pressure should be seen there. In due time, those sellers at $18.20 should be taken out during the upcoming advance toward $18.75 if our technical targets are to be met. From that point onward, we will have to re-assess the silver’s short-term setup. Having broken through the best-fit trend line of the primary declining channel (royal blue), silver now finds itself directly challenging the absolute highs trend line. While grinding price action lasting up to 2 weeks could be expected underneath the absolute highs trend line, prices should be well-supported by the $17.25 support level (black line). We expect that the absolute highs trend line will be broken within the next two weeks, and when it does, the advance toward the $18.75 target will be quick, needing only 3-5 trading days to reach this level. Please keep in mind that silver, being an extremely small market at only $20 billion in annual physical sales, is prone to overshoot technical targets – both to the upside and to the downside. Should silver exceed $18.75 on this move, a surge to $19.75 is not out of the question as an overshoot by mid-April. Once we observe the price action around the next high, we will begin to gauge the potential for an intermediate retracement. The price action of both metals is set to get increasingly volatile through 2017, but as the investment adage goes: “with volatility comes opportunity”. Christopher Aaron has been trading in the commodity and financial markets since the early 2000's. He began his career as an intelligence analyst for the Central Intelligence Agency, where he specialized in the creation and interpretation of the pattern of life mapping in Afghanistan and Iraq. Technical analysis shares many similarities with mapping: both are based on the observations of repeating and imbedded patterns in human nature. His strategy of blending behavioral and technical analysis has helped him and his clients to identify both long-term market cycles and short-term opportunities for profit.
News Article | February 15, 2017
Two scenarios would change the validity of the basing action we are observing in the long-term cup formation of gold price. Gold was resilient over the last two weeks in holding up over the $1,200 level. But for the week, gold closed down $16 or 1.4% to finish at $1,188 as of the final trade on the New York COMEX on Friday.