Barrick Weighs Sale of Gold Mine to Discovery Silver
Discovery Silver is in the final stages of a process Barrick launched in April to sell the Hemlo gold mine in Ontario, the people said, who asked not to be named. There's no certainty the deliberations will lead to a transaction, the people said.
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Associated Press
2 minutes ago
- Associated Press
Owens & Minor Reports Second Quarter 2025 Financial Results
RICHMOND, Va.--(BUSINESS WIRE)--Aug 11, 2025-- Owens & Minor, Inc. (NYSE: OMI) today reported financial results for the second quarter ended June 30, 2025. In connection with a likely sale of the Company's Products & Healthcare Services segment, the results herein, unless otherwise noted, reflect the Company's continuing operations which primarily represent what was previously the Patient Direct segment and certain functional operations. 'We are in the final stages of our robust process for the divestiture of the Products & Healthcare Services segment, and, as a result, have classified this segment as discontinued operations. We are looking forward to concluding the sale of the business and working with a buyer who has the vision and greater flexibility to better support our customers and long-term growth,' said Ed Pesicka, Owens & Minor's Chief Executive Officer. Mr. Pesicka concluded, 'I am excited about the opportunities ahead as we transition into a focused, pure-play Patient Direct business. Building on the momentum gained since we entered the Patient Direct space eight years ago, and supported by favorable demographic trends and meaningful scale, we are confident in our ability to lead as the market continues to evolve.' 2025 Continuing Operations Financial Outlook The Company will provide its 2025 financial outlook for continuing operations during its earnings conference call this morning at 8:30 a.m. EDT. Investor Conference Call for Second Quarter 2025 Financial Results Owens & Minor will host a conference call for investors and analysts on Monday, August 11, 2025, at 8:30 a.m. EDT. Participants may access the call via the toll-free dial-in number at 1-888-300-2035, or the toll dial-in number at 1-646-517-7437. The conference ID access code is 1058917. All interested stakeholders are encouraged to access the simultaneous live webcast by visiting the Investor Relations page of the Owens & Minor website available at A replay of the webcast can be accessed following the presentation at the link provided above. Safe Harbor This release is intended to be disclosure through methods reasonably designed to provide broad, non-exclusionary distribution to the public in compliance with the SEC's Fair Disclosure Regulation. This release contains certain 'forward looking' statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, the statements in this release regarding our future prospects and performance, including our expectations with respect to our financial performance, our 2025 financial results, Owens & Minor's ability to successfully complete the sale of the P&HS business in any specific transaction on favorable terms or at all, our cost saving initiatives, future indebtedness and growth, industry trends, as well as statements related to our expectations regarding the performance of our business, including our ability to address macro and market conditions. Forward-looking statements involve known and unknown risks and uncertainties that may cause our actual results in future periods to differ materially from those projected or contemplated in the forward-looking statements. Investors should refer to Owens & Minor's Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on February 28, 2025, including the section captioned 'Item 1A. Risk Factors,' as applicable, and subsequent quarterly reports on Form 10-Q and current reports on Form 8-K filed with or furnished to the SEC, for a discussion of certain known risk factors that could cause the Company's actual results to differ materially from its current estimates. These filings are available at Given these risks and uncertainties, Owens & Minor can give no assurance that any forward-looking statements will, in fact, transpire and, therefore, cautions investors not to place undue reliance on them. Owens & Minor specifically disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise. About Owens & Minor Owens & Minor, Inc. (NYSE: OMI) is a Fortune 500 global healthcare solutions company providing essential products and services that support care from the hospital to the home. For over 100 years, Owens & Minor and its affiliated brands, Apria®, Byram® and HALYARD*, have helped to make each day better for the patients, providers, and communities we serve. Powered by more than 20,000 teammates worldwide, Owens & Minor delivers comfort and confidence behind the scenes so healthcare stays at the forefront. Owens & Minor exists because every day, everywhere, Life Takes Care™. For more information about Owens & Minor and our affiliated brands, visit or follow us on LinkedIn and Instagram. * Registered Trademark or Trademark of O&M Halyard or its affiliates. Share-based awards for the three months ended June 30, 2025 and 2024 of approximately 2.5 million and 1.6 million shares were excluded from the calculation of diluted loss per common share as the effect would be anti-dilutive. Share-based awards for the six months ended June 30, 2025 and 2024 of approximately 2.2 million and 1.6 million shares were excluded from the calculation of diluted loss per common share as the effect would be anti-dilutive. The following table provides a reconciliation of reported operating (loss) income, net loss from continuing operations, net of tax and net loss from continuing operations per share to non-GAAP measures used by management. The following tables provide reconciliations of net loss from continuing operations, net of tax and total debt to non-GAAP measures used by management. The following tables provide reconciliations of capital expenditures to a non-GAAP measure used by management. Use of Non-GAAP Measures This earnings release contains financial measures that are not calculated in accordance with U.S. generally accepted accounting principles (GAAP). In general, the measures exclude items and charges that (i) management does not believe reflect Owens & Minor, Inc.'s (the Company) core business and relate more to strategic, multi-year corporate activities; or (ii) relate to activities or actions that may have occurred over multiple or in prior periods without predictable trends. Management uses these non-GAAP financial measures internally to evaluate the Company's performance, evaluate the balance sheet, engage in financial and operational planning and determine incentive compensation. Management provides these non-GAAP financial measures to investors as supplemental metrics to assist readers in assessing the effects of items and events on its financial and operating results and in comparing the Company's performance to that of its competitors. However, the non-GAAP financial measures used by the Company may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies. The non-GAAP financial measures disclosed by the Company should not be considered substitutes for, or superior to, financial measures calculated in accordance with GAAP, and the financial results calculated in accordance with GAAP and reconciliations to those financial statements set forth above should be carefully evaluated. OMI-CORP OMI-IR SOURCE: Owens & Minor, Inc. View source version on CONTACT: Investors Alpha IR Group Jackie Marcus or Nick Teves [email protected] Leon Executive Vice President & Chief Financial Officer [email protected] Stacy Law [email protected] KEYWORD: UNITED STATES NORTH AMERICA VIRGINIA INDUSTRY KEYWORD: MEDICAL SUPPLIES MEDICAL DEVICES HEALTH HOSPITALS SURGERY MANAGED CARE SOURCE: Owens & Minor, Inc. Copyright Business Wire 2025. PUB: 08/11/2025 06:30 AM/DISC: 08/11/2025 06:29 AM
Associated Press
2 minutes ago
- Associated Press
Lifezone Metals Secures $60 Million Bridge Loan from Taurus Mining Finance
NEW YORK--(BUSINESS WIRE)--Aug 11, 2025-- Lifezone Metals Limited's ( NYSE: LZM ) Chief Executive Officer, Chris Showalter, today announced that Lifezone's wholly-owned subsidiary, Kabanga Nickel Limited, has entered into a $60 million bridge loan facility agreement with Taurus Mining Finance Fund No. 2, L.P. ( Taurus ), a leading global provider of structured finance to the mining sector. The facility will support the advancement of the Kabanga Nickel Project, located in north-west Tanzania, by funding the development of critical early works and infrastructure development as the Company moves toward securing long-term project financing. Mr. Showalter stated: 'This announcement further demonstrates the preparation and strategic steps Lifezone has taken in anticipation of consolidating 100% ownership of Kabanga Nickel Limited, which we completed last month. The support from Taurus, a respected and experienced mining finance partner, reflects the strength of our project and our team's ability to deliver. With the Feasibility Study now complete, Taurus's funding enables us to advance critical early-stage development while progressing the competitive process underway with Standard Chartered to select additional strategic investment partners. In parallel, we are advancing the project financing process with Societe Generale, as we work toward a comprehensive funding solution for the Kabanga Nickel Project.' Strategic importance of the facility The senior secured bridge loan is a key step in Lifezone's broader financing strategy to advance the Kabanga Nickel Project towards production. It provides essential funding to maintain project momentum during the execution readiness phase, bridging the period between Feasibility Study completion and Final Investment Decision, expected in mid-2026. The loan bears interest at a rate of 9.25% per annum on drawn amounts, payable quarterly. It is subject to an arrangement fee of 2.25% and a commitment fee of 2.5% per annum on undrawn amounts. The loan is secured by a security interest in the shares that Lifezone indirectly holds in Kabanga Nickel Limited and security interests in other assets relating to the Kabanga Nickel Project. The loan is also guaranteed by other subsidiaries of Lifezone. As part of the transaction, Lifezone Metals issued 2.5 million warrants to Taurus, exercisable at an exercise price of $5.42 per share. The warrants will expire five years from the date of issuance. Availability of borrowings under the facility is subject to the satisfaction of customary conditions precedent. The facility has a scheduled maturity date of July 31, 2027, with an option available to Kabanga Nickel Limited to extend the term by an additional six months. In connection with the bridge loan facility agreement, the Company and the debentureholders amended certain terms of the Company's current outstanding Senior Unsecured Convertible Debentures. Supporting a world-class nickel, copper and cobalt project The Kabanga Nickel Project is believed to be one of the world's largest and highest-grade development-ready nickel, copper and cobalt sulfide deposits. Highlights of the Feasibility Study Technical Report Summary, filed on July 18, 2025 (refer to the Company's EDGAR profile, investor relations website and July 18, 2025 news release ), include: Project metrics shown on a 100% basis – the Kabanga Nickel Project is 84% owned by Lifezone and 16% by the Government of Tanzania. If you would like to sign up for Lifezone Metals news alerts, please register here. Social Media LinkedIn | X | YouTube About Lifezone Metals Lifezone Metals (NYSE: LZM) is committed to delivering cleaner and more responsible metals production and recycling. Through the application of our Hydromet Technology, we offer the potential for lower energy consumption, lower emissions and lower cost metals production compared to traditional smelting. Our Kabanga Nickel Project in Tanzania is believed to be one of the world's largest and highest-grade development-ready nickel sulfide deposits. By pairing it with our Hydromet Technology, we are working to unlock a new source of nickel, copper and cobalt for the global battery metals markets and to empower Tanzania to achieve in-country beneficiation. Through our US-based recycling partnership, we are working towards applying our Hydromet Technology to the recovery of platinum, palladium and rhodium from responsibly sourced spent automotive catalytic converters. Our process is expected to be cleaner and more efficient than conventional smelting and refining methods, supporting a circular economy for precious metals. Forward-Looking Statements Certain statements made herein are not historical facts but may be considered 'forward-looking statements' within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the 'safe harbor' provisions under the Private Securities Litigation Reform Act of 1995 regarding, amongst other things, the plans, strategies, intentions and prospects, both business and financial, of Lifezone Metals Limited and its subsidiaries. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events or results of operations, and any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements may be accompanied by words such as 'believes,' 'estimates,' 'expects,' 'predicts,' 'projects,' 'forecasts,' 'may,' 'might,' 'will,' 'could,' 'should,' 'would,' 'seeks,' 'plans,' 'scheduled,' 'possible,' 'continue,' 'potential,' 'anticipates' or 'intends' or the negatives of these terms or variations of them or similar terminology or expressions that predict or indicate future events or trends or that are not statements of historical matters; provided that the absence of these does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, statements regarding future events, the estimated or anticipated future results of Lifezone Metals, future opportunities for Lifezone Metals, including the efficacy of Lifezone Metals' hydrometallurgical technology (Hydromet Technology) and the development of, and processing of mineral resources at, the Kabanga Nickel Project, our approach to environmental stewardship, social responsibility, safety and governance (ESG), and other statements that are not historical facts. These statements are based on the current expectations of Lifezone Metals' management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Lifezone Metals and its subsidiaries. These statements are subject to a number of risks and uncertainties regarding Lifezone Metals' business, and actual results may differ materially. These risks and uncertainties include, but are not limited to: general economic, political and business conditions, including but not limited to economic and operational disruptions; global inflation and cost increases for materials and services; capital and operating costs varying significantly from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; changes in government regulations, legislation and rates of taxation; inflation; changes in exchange rates and the availability of foreign exchange; fluctuations in commodity prices; delays in the development of projects and other factors; the outcome of any legal proceedings that may be instituted against Lifezone Metals; our ability to obtain additional capital, including use of the debt market, future capital requirements and sources and uses of cash; the risks related to the rollout of Lifezone Metals' business, the efficacy of the Hydromet Technology, and the timing of expected business milestones; the acquisition of, maintenance of and protection of intellectual property; Lifezone's ability to achieve projections and anticipate uncertainties (including economic or geopolitical uncertainties) relating to our business, operations and financial performance, including: expectations with respect to financial and business performance, future operating results, financial projections and business metrics and any underlying assumptions; expectations regarding product and technology development and pipeline and market size; events relating to environmental issues, social responsibility, safety and/or governance matters, expectations regarding product and technology development and pipeline; future acquisitions, partnerships, or other relationships with third parties; maintaining key strategic relationships with partners and customers; the timing and significance of contractual relationships; the effects of competition on Lifezone Metals' business; the ability of Lifezone Metals to execute its growth strategy, the development and processing of the mineral resources at the Kabanga Nickel Project; obtaining additional capital, including use of the debt market, future capital requirements, and sources and uses of cash; manage growth profitably and retain its key employees; the ability of Lifezone Metals to reach and maintain profitability; enhancing future operating and financial results; complying with laws and regulations applicable to Lifezone Metals' business; Lifezone Metals' ability to continue to comply with applicable listing standards of the NYSE; our ability to comply with applicable laws and regulations, stay abreast of accounting standards, or modified or new laws and regulations applying to our business, including privacy regulation; and other risks that will be detailed from time to time in filings with the U.S. Securities and Exchange Commission (SEC); meeting future liquidity requirements and complying with restrictive covenants related to long-term indebtedness; and dealing effectively with litigation, complaints, and/or adverse publicity. The foregoing list of risk factors is not exhaustive. There may be additional risks that Lifezone Metals presently does not know or that Lifezone Metals currently believes are immaterial that could also cause actual results to differ from those contained in forward-looking statements. In addition, forward-looking statements provide Lifezone Metals' expectations, plans or forecasts of future events and views as of the date of this communication. Lifezone Metals anticipates that subsequent events and developments will cause Lifezone Metals' assessments to change. These forward-looking statements should not be relied upon as representing Lifezone Metals' assessments as of any date subsequent to the date of this communication. You should not place undue reliance on forward-looking statements in this communication, which are based upon information available to us as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. In all cases where historical performance is presented, please note that past performance is not a credible indicator of future results. Except as otherwise required by applicable law, we disclaim any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data, or methods, future events, or other changes after the date of this communication. View source version on CONTACT: Investor Relations – North America Evan Young SVP: Investor Relations & Capital Markets [email protected] Relations – Europe Ingo Hofmaier Chief Financial Officer [email protected] KEYWORD: AFRICA UNITED STATES TANZANIA NORTH AMERICA NEW YORK INDUSTRY KEYWORD: MINING/MINERALS NATURAL RESOURCES SOURCE: Lifezone Metals Copyright Business Wire 2025. PUB: 08/11/2025 06:30 AM/DISC: 08/11/2025 06:30 AM
Associated Press
2 minutes ago
- Associated Press
Ben van Beurden Appointed Lead Director of Barrick, Succeeding Stalwart Brett Harvey in the Position
TORONTO, Aug. 11, 2025 (GLOBE NEWSWIRE) -- Barrick Mining Corporation (NYSE:B)(TSX:ABX) today announced that Ben van Beurden has been appointed Lead Independent Director of the Board, succeeding Brett Harvey. Mr van Beurden, former CEO of Shell, joined Barrick's Board in May 2025 and brings nearly four decades of global leadership in the energy and natural resources sectors. At Shell, he led the company's strategic transformation from an oil-focused business to a diversified energy leader, with significant investments in natural gas and renewables. He also streamlined Shell's structure, consolidated its headquarters in London and positioned the company among the leaders in the energy transition. In addition to his role at Barrick, Mr van Beurden is a senior advisor on energy transition investments at KKR, an independent member of the Board of Supervisors of Mercedes-Benz Group AG and Chairman of Clariant, a Swiss specialty chemicals company. Brett Harvey has been a member of the Board since 2005 and has served as Lead Director since 2013. Over more than a decade in that role, he has been a driving force in strengthening the company's governance, fostering board renewal and advancing diversity to better reflect the regions and communities in which Barrick operates. He will continue to serve as a valued member of the Board. Barrick Chairman John Thornton said: 'Brett's tenure as Lead Director has been marked by exceptional leadership and a steadfast commitment to sound governance.' He added that Mr van Beurden had already brought valuable insights to the Board's deliberations and that his appointment as Lead Director would build on that contribution. 'Ben's strategic acumen, global perspective and deep experience in sustainable business management will further enhance our ability to deliver lasting, responsible value to shareholders,' Thornton said. Thornton noted that van Beurden's appointment reflects Barrick's continued commitment to board renewal as part of a broader ongoing strategic initiative to refresh the Board's composition and ensure the Company has the leadership needed to navigate the evolving dynamics of the industry. About Barrick Mining Corporation Barrick is a leading global mining, exploration and development company. With one of the largest portfolios of world-class and long-life gold and copper assets in the industry — including six of the world's Tier One gold mines — Barrick's operations and projects span 18 countries and five continents. Barrick is also the largest gold producer in the United States. We create real, long-term value for all stakeholders through responsible mining, strong partnerships and a disciplined approach to growth. Barrick shares trade on the New York Stock Exchange under the symbol 'B' and on the Toronto Stock Exchange under the symbol 'ABX'. Enquiries +44 20 7557 7738 [email protected]
