Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
TORONTO--(BUSINESS WIRE)-- TMAC Resources Inc. (TSX: TMR) (“TMAC” or the “Company”) is pleased to announce today that it has concluded the previously announced plan of arrangement (the “Transaction”) pursuant to which Agnico Eagle Mines Limited (“Agnico Eagle”) has acquired all of the issued and outstanding common shares of the Company (the “Common Shares”). TMAC is now a wholly-owned subsidiary of Agnico Eagle. As a result of the Transaction, the Common Shares are expected to be delisted from the Toronto Stock Exchange after the close of trading on February 3, 2021 and Agnico Eagle will appl...
TORONTO--(BUSINESS WIRE)-- TMAC Resources Inc. (TSX: TMR) (“TMAC” or the “Company”) announces that it has received an amended final order from the Ontario Superior Court of Justice (Commercial List) approving the acquisition of TMAC by Agnico Eagle Mines Limited (“Agnico Eagle”) as the substituted purchaser under the previously approved plan of arrangement (the “Transaction”). As previously announced, the Transaction provides for the acquisition by Agnico Eagle of all the issued and outstanding common shares of TMAC at an all-cash price of C$2.20 per share by way of a statutory plan of arrange...
TORONTO--(BUSINESS WIRE)-- TMAC Resources Inc. (TSX: TMR) (“TMAC” or the “Company”) is pleased to update the market on its transaction with Agnico Eagle Mines Limited (“Agnico Eagle”) and provide notice to its shareholders of the hearing scheduled to consider the Agnico Final Order (as defined below). As announced on January 5, 2021, TMAC and Agnico Eagle agreed that Agnico Eagle will acquire all of the issued and outstanding common shares of TMAC at an all-cash price of C$2.20 per share (the “Transaction”). The Transaction is being effected by way of assignment to Agnico Eagle of the arrange...
TORONTO--(BUSINESS WIRE)-- Agnico Eagle Mines Limited (NYSE: AEM, TSX: AEM) ("Agnico Eagle") and TMAC Resources Inc. (TSX: TMR) ("TMAC") announced today that they have entered into agreements pursuant to which Agnico Eagle has agreed to acquire all of the outstanding common shares of TMAC (the "Transaction") at a price of C$2.20 per share (the "Offer Price") in cash, which represents an increase of C$0.45 per share as compared to the offer price of C$1.75 offered by Shandong under the original Arrangement Agreement, as further described below. The Transaction is being effected by way of assig...
TORONTO--(BUSINESS WIRE)-- TMAC Resources Inc. (TSX: TMR) (“TMAC” or the “Company”) has been informed that the Governor in Council has issued an order under the Investment Canada Act (Canada) directing Shandong Gold Mining Co., Ltd. and its affiliate (“Shandong”) not to implement the plan of arrangement (the “Transaction”). As a result, the Transaction between TMAC and Shandong will not proceed. TMAC and Shandong are in discussions regarding termination of the Transaction. Jason Neal, President and Chief Executive Officer of TMAC, stated, “The Transaction whereby Shandong would acquire 100% o...
The independent financial analyst theScreener just awarded an improved star rating to TMAC RESOURCES (CA), active in the Gold Mining industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 4 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date December 8, 2020, the closing pr...
TORONTO--(BUSINESS WIRE)-- TMAC Resources Inc. (TSX: TMR) (“TMAC” or the “Company”) announces that the national security review under the Investment Canada Act (Canada) of the plan of arrangement (the “Transaction”) with Shandong Gold Mining Co., Ltd. and its affiliate (“Shandong” or the “Purchaser”) has been extended for a further period of up to 45 days. The Transaction was agreed and announced on May 8, 2020 and, as previously disclosed, the Transaction provides for the acquisition by the Purchaser of all of the issued and outstanding common shares of TMAC not already owned by Shandong or a...
TORONTO--(BUSINESS WIRE)-- TMAC Resources Inc. (TSX: TMR) (“TMAC” or the “Company”) reports its financial results for the third quarter of 2020. All amounts are in Canadian dollars, unless otherwise indicated. THIRD QUARTER 2020 FINANCIAL HIGHLIGHTS Gold production and sales 18,420 ounces produced; 27,650 ounces sold Gross revenues $70.5 million Average realized gold price $2,549 per ounce (US$1,910 per ounce) Cash Costs(1) US$901 per ounce of gold sold Cost of sales(2) US$1,219 per ounce of gold sold All-in Sustaining Costs (“AISC”)(...
TORONTO--(BUSINESS WIRE)-- TMAC Resources Inc. (TSX: TMR) (“TMAC” or the “Company”) held its annual general meeting of shareholders in Toronto today. Each of the nominee directors listed in TMAC’s management information circular dated September 8, 2020 was elected as per the vote by ballot below. Nominee Votes For % For Votes Withheld % Withheld Andrew B. Adams 85,041,887 98.4% 1,354,728 1.6% Leona Aglukkaq 86,285,971 99.9% 110,644 0.1% Ross R. Bhappu 86,287,572 99.9% ...
TORONTO--(BUSINESS WIRE)-- TMAC Resources Inc. (TSX: TMR) (“TMAC” or the “Company”) announces receipt of notification that the federal Cabinet has ordered a national security review under the Investment Canada Act (Canada) of the plan of arrangement (the “Transaction”) with Shandong Gold Mining Co., Ltd. and its affiliate (“Shandong” or the “Purchaser”). The Transaction was agreed and announced on May 8, 2020. As previously disclosed, the Transaction provides for the acquisition by the Purchaser of all of the issued and outstanding common shares of TMAC not already owned by Shandong or an affi...
TORONTO--(BUSINESS WIRE)-- TMAC Resources Inc. (TSX: TMR) (“TMAC” or the “Company”) was informed on September 28, 2020 that seven additional workers at its Hope Bay mine site have tested positive for the COVID-19 virus. TMAC is working hard to maintain the health and safety of its employees and contractors, their families and the community. Hope Bay continues to execute its Infectious Disease Control Plan and COVID-19 safety measures, while following public health authorites’ guidance regarding response and containment measures. On September 21, 2020, the Company provided an update on two cam...
TORONTO--(BUSINESS WIRE)-- TMAC Resources Inc. (TSX: TMR) (“TMAC” or the “Company”) was informed on September 19, 2020 that two camp services workers at its Hope Bay site have tested positive for the COVID-19 virus. TMAC values the health and safety of its employees and contractors, their families and the community. The mine site will continue to execute its Infectious Disease Control Plan, implemented on March 12, 2020, and follow public health authorities’ guidance regarding response and containment measures. The workers who tested positive travelled to the Hope Bay site on September 8, 202...
TORONTO--(BUSINESS WIRE)-- TMAC Resources Inc. (TSX: TMR) (“TMAC” or the “Company”) announces that, effective today, Alan Pangbourne is joining the Board of Directors (the “Board”) of the Company. Andrew Adams, Chair of the Board of TMAC, stated, “We are pleased to welcome Alan Pangbourne. Despite the pending sale of TMAC to Shandong Gold it is important to ensure our Board has the requisite technical skills and experience prior to closing. Jacques Perron had been the independent Chair of the Technical Committee of the Board until his departure on June 26, 2020, as the result of taking a new...
TORONTO--(BUSINESS WIRE)-- TMAC Resources Inc. (TSX: TMR) (“TMAC” or the “Company”) reports its financial results for the second quarter of 2020. All amounts are in Canadian dollars, unless otherwise indicated. Q2 2020 Highlights: Implemented plan to operate at reduced levels while also managing the risks related to the COVID-19 pandemic. Reduced cost structure in line with the reduced operating levels. Generated positive cash flow from operations of $25.4 million before working capital. Earnings per share of $0.13 per on a basic and fully diluted basis. Cash cost of US$865 per ou...
TORONTO--(BUSINESS WIRE)-- TMAC Resources Inc. (TSX: TMR) (“TMAC” or the “Company”) provided a regulatory update on its previously announced plan of arrangement (the “Transaction”) with Shandong Gold Mining Co., Ltd. and its indirect wholly-owned subsidiary, Streamers Gold Mining Corporation Limited (together “Shandong” or the “Purchaser”). As previously disclosed, the Transaction provides for the acquisition by the Purchaser of all of the issued and outstanding common shares of TMAC not already owned by Shandong, by way of a statutory plan of arrangement under the Business Corporations Act (O...
TORONTO--(BUSINESS WIRE)-- TMAC Resources Inc. (TSX: TMR) (“TMAC” or the “Company”) reports second quarter 2020 results for production and certain operating metrics. SECOND QUARTER 2020 PRODUCTION SUMMARY Production: 28,970 ounces of gold produced, and 32,830 ounces of gold poured Sales: 27,870 ounces of gold sold Mining: 630 tonnes per day (“tpd”), with a grade of 11.6 grams per tonne (“g/t”) Au Processing: 1,330 tpd, with a feed grade of 8.8 g/t Au, and 84% recovery Development metres: 600 metres at Doris Jason Neal, President and Chief Executive Officer of TMAC, stated, “The...
TORONTO--(BUSINESS WIRE)-- TMAC Resources Inc. (TSX: TMR) (“TMAC” or the “Company”) announces that it has received a final order from the Ontario Superior Court of Justice approving the previously announced plan of arrangement (the “Transaction”) with Shandong Gold Mining Co., Ltd. and an affiliate (“Shandong” or the “Purchaser”). As previously disclosed, the Transaction provides for the acquisition by the Purchaser of all of the issued and outstanding common shares of the Company (“Common Shares”) not already owned by Shandong, by way of a statutory plan of arrangement under the Business Corp...
TORONTO--(BUSINESS WIRE)-- TMAC Resources Inc. (TSX: TMR) (“TMAC” or the “Company”) announces that, at a special meeting of shareholders held today, its shareholders approved a special resolution (the “Transaction Resolution”) with respect to the previously announced plan of arrangement (the “Transaction”) with Shandong Gold Mining Co. Ltd. and an affiliate (“Shandong” or the “Purchaser”). The Transaction provides for the acquisition by an affiliate of the Purchaser of all of the issued and outstanding common shares of TMAC (“Common Shares”) not already owned by Shandong. Cash consideration of...
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