GeoPark Provides Update on Transaction in Vaca Muerta, Argentina
BOGOTA, Colombia--(BUSINESS WIRE)--GeoPark Limited ('GeoPark' or the 'Company') (NYSE: GPRK), a leading independent energy company with over 20 years of successful operations across Latin America, announces today that Phoenix Global Resources ('Phoenix'), the counterparty to the transaction through which GeoPark agreed to acquire a non-operated working interest in four unconventional blocks in Vaca Muerta (Argentina), has decided to withdraw from the agreement. As a result, the acquisition will not be completed by GeoPark.
As previously referenced during GeoPark's 1Q2025 Results Conference Call, and in accordance with the terms of the FarmOut Agreement, either party had the right to withdraw from the transaction following the contractually defined 'Outside Date' of May 13, 2025.
Notwithstanding this development, GeoPark remains firmly committed to its long-term North Star strategy—anchored in profitable, dependable, and sustainable growth through the development of Big assets, in Big plays, within Big basins. This strategy is underpinned by a solid cash balance, currently at $330 million, conservative net leverage ratio below 1.0x, a robust hedging program that now covers approximately 87% of 2025 volumes, and a disciplined capital allocation framework—which provides the Company with the flexibility to pursue other strategic opportunities and continue advancing the following core priorities:
Strengthening the Core Business - The Company remains focused on executing its 2025 organic work program, prioritizing high-return projects to maximize returns and cash generation from its core portfolio
Pursuing Value-Accretive Growth - Inorganic growth opportunities within GeoPark's defined geographies of interest continue to be actively evaluated, aiming to complement the existing portfolio and support long-term value creation
Strategic Optionalit y - GeoPark continues to evaluate a range of value-enhancing alternatives, including dividends, share buybacks, and potential debt reduction, depending on market conditions
GeoPark appreciates the continued trust and support of its shareholders and stakeholders. The Company remains committed to maintaining open communication while pursuing disciplined growth opportunities that generate long-term value for all its stakeholders.
NOTICE
Additional information about GeoPark can be found in the 'Invest with Us' section on the website at www.geo-park.com.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION
This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as ''anticipate,'' ''believe'', ''could,'' ''expect,'' ''should,'' ''plan,'' ''intend,'' ''will,'' ''estimate'' and ''potential,'' among others.
Forward-looking statements that appear in a number of places in this press release include, but are not limited to, statements regarding the intent, belief or current expectations, regarding various matters including its growth strategy, the advancement of the Company's core priorities, the Company's pursuit of disciplined growth opportunities and the generation of long-term value for the Company's stakeholders. Forward-looking statements are based on management's beliefs and assumptions, and on information currently available to the management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors.
Forward-looking statements speak only as of the date they are made, and the Company does not undertake any obligation to update them in light of new information or future developments or to release publicly any revisions to these statements in order to reflect later events or circumstances or to reflect the occurrence of unanticipated events. For a discussion of the risks facing the Company which could affect whether these forward-looking statements are realized, see the Company's filings with the U.S. Securities and Exchange Commission (SEC).
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Finlay Minerals Announces Closing of Non-Brokered Private Placement of Flow-Through Shares and Non-Flow-Through Units
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Share Purchase Plan The Company is offering shareholders who were registered as a holder of Shares as at 5.00pm (AWST) on 4 June 2025 (Record Date) and whose registered address is in Australia or New Zealand (Eligible Shareholders) the opportunity to subscribe for a maximum of A$30,000 worth of fully paid ordinary shares in the Company (SPP Shares) at an issue price of A$0.96 per SPP Share (being the same price as the Institutional Placement), to raise up to A$5.0 million (before costs) under the SPP. The Company reserves the right to take oversubscriptions in accordance with the ASX Listing Rules and the Corporations Act. An SPP booklet containing further information in relation to the SPP, including the scale-back policy and other terms and conditions, is expected to be released on ASX and dispatched to Eligible Shareholders on or around 16 June 2025. 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Indicative Timetable Key Event Date Trading halt lifted and trading resumes Tuesday, 10 June 2025 DvP Settlement of T1 Placement Shares issued under the Institutional Placement Friday, 13 June 2025 Settlement, Allotment and Trading of New Shares issued under the Charity Flow-Through Placement Friday, 13 June 2025 DvP Allotment and normal trading of T1 Placement Shares issued under the Institutional Placement Lodgement of SPP Offer booklet and SPP Offer opens Monday, 16 June 2025 Issue of New Shares under Canadian Offering Friday, 20 June 2025 Close of SPP offer Monday, 7 July 2025 Issue of SPP Shares Monday, 14 July 2025 General Meeting to approve the issue of T2 Placement Shares under the Institutional Placement Indicatively Mid-July 2025 Settlement, Allotment and Trading for T2 Placement Shares issued under the Institutional Placement Indicatively Mid-July 2025 and following the General Meeting The above timetable is indicative only and subject to change. The Company reserves the right to amend any or all of these dates and times without notice, subject to the Corporations Act, the ASX Listing Rules and other applicable laws. ABOUT FIREFLY METALS FireFly Metals Ltd (ASX, TSX: FFM) is an emerging copper-gold company focused on advancing the high-grade Green Bay Copper-Gold Project in Newfoundland, Canada, which is comprised of multiple assets, including the Ming underground mine and Little Deer exploration project. The Green Bay Copper-Gold Project currently hosts a Mineral Resource prepared in accordance with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code 2012) and Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects (NI 43-101) of 24.4Mt of Measured and Indicated Resources at 1.9% for 460Kt CuEq and 34.5Mt of Inferred Resources at 2% for 690Kt CuEq. The Company has a clear strategy to rapidly grow the copper-gold Mineral Resource to demonstrate a globally significant copper-gold asset. FireFly has commenced a 130,000m diamond drilling program. FireFly holds a 70% interest in the high-grade Pickle Crow Gold Project in Ontario. The current Inferred Resource stands at 11.9Mt at 7.2g/t for 2.8Moz gold, with exceptional discovery potential on the 500km2 tenement holding. The Company also holds a 90% interest in the Limestone Well Vanadium-Titanium Project in Western Australia. For further information regarding FireFly Metals Ltd please visit the ASX platform (ASX:FFM) or the Company's website or SEDAR+ at COMPLIANCE STATEMENTS Mineral Resources Estimate – Green Bay Project The Mineral Resource Estimate for the Green Bay Project referred to in this announcement and set out at Appendix A was first reported in the Company's ASX announcement dated 29 October 2024, titled "Resource increases 42% to 1.2Mt of contained metal at 2% Copper Eq" and is also set out in the Technical Reports for the Ming Copper Gold Mine, titled "National Instrument 43-101 Technical Report, FireFly Metals Ltd., Ming Copper-Gold Project, Newfoundland" with an effective date of November 29, 2024 and the Little Deer Copper Project, titled "Technical Report and Updated Mineral Resource Estimate of the Little Deer Complex Copper Deposits, Newfoundland, Canada" with an effective date of June 26, 2024, each of which is available on SEDAR+ at The Company confirms that it is not aware of any new information or data that materially affects the information included in the original announcement and that all material assumptions and technical parameters underpinning the Mineral Resource Estimate in the original announcement continue to apply and have not materially changed. Metal equivalents for the Mineral Resource Estimate mineralisation have been calculated at a copper price of US$8,750/t, gold price of US$2,500/oz and silver price of US$25/oz. Individual Mineral Resource grades for the metals are set out at Appendix A of this announcement. Copper equivalent was calculated based on the formula CuEq(%) = Cu(%) + (Au(g/t) x 0.82190) + (Ag(g/t) x 0.00822). Metallurgical factors have been applied to the metal equivalent calculation. Copper recovery used was 95%. Historical production at the Ming Mine has a documented copper recovery of ~96%. Precious metal metallurgical recovery was assumed at 85% on the basis of historical recoveries achieved at the Ming Mine in addition to historical metallurgical test work to increase precious metal recoveries. In the opinion of the Company, all elements included in the metal equivalent calculations have a reasonable potential to be sold and recovered based on current market conditions, metallurgical test work, and historical performance achieved at the Green Bay project whilst in operation. Mineral Resources Estimate – Pickle Crow Project The Mineral Resource Estimate for the Pickle Crow Project referred to in this announcement was first reported in the Company's ASX announcement dated 4 May 2023, titled "High-Grade Inferred Gold Resource Grows to 2.8Moz at 7.2g/t" and is also set out in the Technical Report for the Pickle Crow Project, titled "NI 43-101 Technical Report Mineral Resource Estimate Pickle Crow Gold Project, Ontario, Canada" with an effective date of November 29, 2024 available on SEDAR+ at The Company confirms that it is not aware of any new information or data that materially affects the information included in the original announcement and that all material assumptions and technical parameters underpinning the Mineral Resource Estimate in the original announcement continue to apply and have not materially changed. COMPETENT PERSON / QUALIFIED PERSON All technical and scientific information in this announcement has been reviewed and approved by Group Chief Geologist, Mr Juan Gutierrez BSc, Geology (Masters), Geostatistics (Postgraduate Diploma), who is a Member and Chartered Professional of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists. Mr Gutierrez is a Competent Person as defined in the JORC Code 2012 and a Qualified Person as defined in NI 43-101. FORWARD-LOOKING INFORMATION This announcement may contain certain forward-looking statements and projections, including statements regarding the Equity Raising, the SPP, and FireFly's plans, forecasts and projections with respect to its mineral properties and programs, including the use of proceeds of the Equity Raising and SPP and the completion and expected closings of the Equity Raising and SPP. Forward-looking statements may be identified by the use of words such as "may", "might", "could", "would", "will", "expect", "intend", "believe", "forecast", "milestone", "objective", "predict", "plan", "scheduled", "estimate", "anticipate", "continue", or other similar words and may include, without limitation, statements regarding plans, strategies and objectives. Although the forward-looking statements contained in this announcement reflect management's current beliefs based upon information currently available to management and based upon what management believes to be reasonable assumptions, such forward-looking statements and projections are estimates only and should not be relied upon. They are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors many of which are beyond the control of the Company, which may include changes in commodity prices, foreign exchange fluctuations, economic, social and political conditions, and changes to applicable regulation, and those risks outlined in the Company's public disclosures. The forward-looking statements and projections are inherently uncertain and may therefore differ materially from results ultimately achieved. For example, there can be no assurance that FireFly will be able to confirm the presence of Mineral Resources or Ore Reserves, that FireFly's plans for development of its mineral properties will proceed, that any mineralisation will prove to be economic, or that a mine will be successfully developed on any of FireFly's mineral properties. The performance of FireFly may be influenced by a number of factors which are outside of the control of the Company, its directors, officers, employees and contractors. The Company does not make any representations and provides no warranties concerning the accuracy of any forward-looking statements or projections, and disclaims any obligation to update or revise any forward-looking statements or projections based on new information, future events or circumstances or otherwise, except to the extent required by applicable laws. APPENDIX A Green Bay Copper-Gold Project Mineral Resources Ming Deposit Mineral Resource EstimateTONNES COPPER GOLD SILVER CuEq(Mt) Grade (%) Metal ('000 t) Grade (g/t) Metal ('000 oz) Grade (g/t) Metal ('000 oz) Grade (%) Measured 4.7 1.7 80 0.3 40 2.3 340 1.9 Indicated 16.8 1.6 270 0.3 150 2.4 1,300 1.8 TOTAL M&I 21.5 1.6 340 0.3 190 2.4 1,600 1.8 Inferred 28.4 1.7 480 0.4 340 3.3 3,000 2.0 Little Deer Mineral Resource EstimateTONNES COPPER GOLD SILVER CuEq(Mt) Grade (%) Metal ('000 t) Grade (g/t) Metal ('000 oz) Grade (g/t) Metal ('000 oz) Grade (%) Measured - - - - - - - - Indicated 2.9 2.1 62 0.1 9 3.4 320 2.3 TOTAL M&I 2.9 2.1 62 0.1 9 3.4 320 2.3 Inferred 6.2 1.8 110 0.1 10 2.2 430 1.8 GREEN BAY TOTAL MINERAL RESOURCE ESTIMATETONNES COPPER GOLD SILVER CuEq(Mt) Grade (%) Metal ('000 t) Grade (g/t) Metal ('000 oz) Grade (g/t) Metal ('000 oz) Grade (%) Measured 4.7 1.7 80 0.3 45 2.3 340 1.9 Indicated 19.7 1.7 330 0.2 154 2.6 1,600 1.9 TOTAL M&I 24.4 1.7 400 0.3 199 2.5 2,000 1.9 Inferred 34.6 1.7 600 0.3 348 3.1 3,400 2.0 1. FireFly Metals Ltd Mineral Resources for the Green Bay Copper-Gold Project, incorporating the Ming Deposit and Little Deer Complex, are reported in accordance with the JORC Code 2012 and NI 43-101. 2. Mineral Resources have been reported at a 1.0% copper cut-off grade. 3. Metal equivalents for the Mineral Resource Estimate has been calculated at a copper price of US$8,750/t, gold price of US$2,500/oz and silver price of US$25/oz. Metallurgical recoveries have been set at 95% for copper and 85% for both gold and silver. CuEq(%) = Cu(%) + (Au(g/t) x 0.82190) + (Ag(g/t) x 0.00822). 4. Totals may vary due to rounding. SOURCE FireFly Metals Ltd. View original content:
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Announcement by Gerdau S.A. of Results of Cash Tender Offer for Any and All Outstanding 4.875% Notes due 2027 issued by Gerdau Trade Inc.
SíO PAULO, June 9, 2025 /PRNewswire/ -- Gerdau S.A. ("Gerdau") (NYSE: GGB) announces the expiration of its previously announced offer to purchase for cash any and all of the outstanding 4.875% notes due 2027 (the "Notes") issued by Gerdau Trade Inc. ("Gerdau Trade"), fully, unconditionally and irrevocably guaranteed by Gerdau (by itself and as successor in interest of Gerdau Aços Especiais S.A.), Gerdau Açominas S.A. and Gerdau Aços Longos S.A. (together, the "Guarantors") (the "Offer"). The Offer was made upon the terms and subject to the conditions set forth in the offer to purchase dated June 3, 2025 (the "Offer to Purchase") relating to the Notes and the accompanying notice of guaranteed delivery. Information regarding the Notes and the results of the Offer is summarized in the following table: Title of Security CUSIP / ISIN Principal Amount Outstanding Principal Amount Tendered(1) Principal Amount Outstanding Following the Settlement Date(1) Consideration(2) 4.875% Notes due 2027 G3925DAD2 / USG3925DAD24 37373WAD2 / US37373WAD20 US$418,244,000 US$237,646,000 US$180,598,000 US$1,007.83__________________ (1) Does not take into account US$200,000 principal amount of Notes tendered pursuant to the Guaranteed Delivery Procedures (as defined in the Offer to Purchase), which remain subject to the holders' performance of the delivery requirements under such Guaranteed Delivery Procedures. (2) Per US$1,000 principal amount of Notes validly tendered and accepted for purchase, based on the Fixed Spread (as defined in the Offer to Purchase) plus the yield calculated to the maturity date for the Notes, based on the bid-side price of the Reference U.S. Treasury Security (as defined in the Offer to Purchase) for the Notes as of 11:00 a.m. (New York City time) on June 9, 2025. The Consideration does not include Accrued Interest (as defined in the Offer to Purchase) on the Notes, which will be payable in cash. Information on the Offer The Offer expired at 5:00 p.m., New York City time, on June 9, 2025 (the "Expiration Date"). All conditions described in the Offer to Purchase have been satisfied, and Gerdau has accepted for purchase all of the Notes validly tendered. Settlement Settlement of the Offer is expected to occur within three business days following the Expiration Date, which will be June 12, 2025 (the "Settlement Date"). For More Information The terms and conditions of the Offer are described in the Offer Documents. Copies of the Offer Documents are available at and by request to D.F. King & Co., Inc., the tender agent and information agent for the Offer (the "Tender and Information Agent"). Requests for copies of the Offer Documents should be directed to the Tender and Information Agent at +1 (800) 628-9011 (toll free) and +1 (212) 269-5550 (collect) or by e-mail to gerdau@ Gerdau Trade has engaged BofA Securities, Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC to act as the dealer managers (the "Dealer Managers") in connection with the Offer. Any questions or requests for assistance regarding the Offer may be directed to BofA Securities, Inc. collect at +1 (646) 855-8988 or toll-free (U.S. only) at +1 (888) 292-0070, Goldman Sachs & Co. LLC collect at +1 (212) 357-1452 or toll-free (U.S. only) at +1 (800) 828-3182, J.P. Morgan Securities LLC collect at +1 (212) 834-3554 / +55 11 4950 3312 or toll-free (U.S. only) at +1 (866) 834-4666 / +1 (866) 846-2874, and Morgan Stanley & Co. LLC collect at +1 (212) 761-1057 or toll-free (U.S. only) at +1 (800) 624-1808. Disclaimer This press release is for informational purposes only and does not constitute an offer to purchase or the solicitation of an offer to sell any securities. The Offer was being made solely by means of the Offer Documents. The Offer was not made to holders of the Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In those jurisdictions where the securities, blue sky or other laws require any tender offer to be made by a licensed broker or dealer, the Offer was deemed to be made on behalf of Gerdau Trade by the Dealer Managers or one or more registered brokers or dealers licensed under the laws of such jurisdiction. The Offer Documents have not been filed with, and have not been approved or reviewed by any federal or state securities commission or regulatory authority of any country. No authority has passed upon the accuracy or adequacy of the Offer Documents or any other documents related to the Offer, and it is unlawful and may be a criminal offense to make any representation to the contrary. This press release may contain forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, including those related to the Offer. Forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, and, accordingly, such results may differ from those expressed in any forward-looking statements. Gerdau S.A. Rafael Dorneles JapurVice-President and Investor Relations Officer View original content: SOURCE Gerdau S.A. 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