Latest news with #Ambrosia
TimesLIVE
3 hours ago
- Business
- TimesLIVE
Canada's Allied Gold could look at options for power supply deal at Mali mine
Canadian miner Allied Gold could look at alternative options for a power supply deal at its Sadiola mine in Mali following a surge in gold prices and the emergence of new opportunities, its CEO told Reuters in an interview on Monday. The gold miner signed an agreement in February with UAE-based Ambrosia Investment, giving Ambrosia a 50% stake in the mine in return for installing a new power supply system that would have improved the mine's costs. Allied Gold was also supposed to receive $500m (R8.86bn), with approximately $250m (R4.43bn) in upfront cash consideration from Ambrosia. The deal is yet to close. Allied Gold CEO Peter Marrone said the deal may close in June — but if it does not, it is because other options have become available to the company. "Our position in the country has changed dramatically along with gold prices," Marrone said. "The world has changed since we put the deal together." Gold prices have surged nearly 30% this year to date and hit a record $3,500.05 per ounce on April 22. Ambrosia Investment did not immediately respond to a request for comment.
Yahoo
6 hours ago
- Business
- Yahoo
Allied Gold explores new power supply options for Sadiola mine
Canadian miner Allied Gold is contemplating alternative options for a power supply deal at its Sadiola mine in Mali, CEO Peter Marrone stated in an interview with Reuters. This move follows a surge in gold prices and the emergence of new opportunities. Allied Gold signed an agreement in February with United Arab Emirates-based Ambrosia Investment, granting Ambrosia a 50% stake in the mine in exchange for installing a new power supply system aimed at reducing operational costs. The agreement, which includes a provision for Allied Gold to receive $500m (C$684.92m), with approximately $250m in upfront cash consideration from Ambrosia, has yet to close. Marrone indicated that while the deal may close in June, the company is open to exploring other options if they become available. 'Our position in the country has changed dramatically along with gold prices. The world has changed since we put the deal together,' Marrone said. Gold prices have surged nearly 30% this year to date, reaching a record $3,500.05/oz on 22 April. Ambrosia Investment did not immediately respond to a request for comment regarding the deal. Marrone noted that the landscape of power solutions for Allied Gold shifted significantly after the company signed a new mining convention with the Mali Government last year. Mali is Africa's third-largest gold producer and the military-led government is keen to increase revenue from the mining sector. The government has expressed concerns that current arrangements are unfair and has stated that foreign multinationals must comply with its demands to continue operations. The country is currently in dispute with another Canadian miner, Barrick Mining, the only gold miner that has not signed Mali's new mining code. Barrick is seeking World Bank arbitration over a possible government takeover of its Loulo-Gounkoto gold complex in the country. Allied Gold has adopted a pragmatic approach to settling with the government. 'We looked at how best we can deliver returns to our investors, and came to the conclusion that let's take an action based on cooperation and support,' Marrone said. "Allied Gold explores new power supply options for Sadiola mine" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Time of India
6 days ago
- Entertainment
- Time of India
'I love the vibe of...': GTA 6 fans can't stop talking about this new location in the game; find out which place is this
After a year-long wait, Rockstar Games has finally released the second trailer of GTA 6, and since the launch of the trailer, it has become the biggest video launch in history, garnering 475 million views in its first 24 hours across all platforms. With the release of the second trailer of the game, the studio has also released multiple screenshots and fresh artworks from the game, which has also been updated on the website. All this fresh content has sparked discussions about new theories and rumors. Amid this, the anticipations surrounding the game have left fans discussing the new characters, weapons, maps, and more. The most recent one is Port Gellhorn. What is that? Let's find out. 'Port Gellhorn looks the coolest, in my opinion' Recently, a popular Reddit post shared some pictures of Port Gellhorn in the GTA 6 Subreddit and said, "I can already picture the side mission encounters and people we are going to meet in this town. I can't wait; I love the vibe of Port Gellhorn." As soon as the post surfaced on the platform, fans quickly shared their thoughts, one wrote, "I'm gonna spend so much time in Port Gellhorn and Mount Kalaga." "Dude, Mount Kalaga looks so good, I feel like I'm gonna have a hard time not spending every second of the game up there," another added. While one said, "Seems such a shady area, full of crime. Man that motel scene excites me so much, cannot wait to visit spend nights and set off causing chaos" "yeah its gonna be cool seeing the residential area and others we haven't seen of it yet, rockstars holding back on showing us something about here and Ambrosia" What is Port Gellhorn? Port Gellhorn is a major town in Grand Theft Auto 6, which is located in the fictional state of Leonida, which is loosely based on Florida. The place is described as a "forgotten coast" area filled with "cheap motels, shut-down attractions, and empty strip malls." While past its prime, Port Gellhorn is a hive of activity for the local criminal scene and is expected to play a major role in the game's plot for Lucia and Jason, the main characters of the game.
Powys County Times
15-05-2025
- Business
- Powys County Times
Premier Foods reveals rising profits amid stronger Mr Kipling sales
Mr Kipling maker Premier Foods has revealed stronger-than-expected profits as sales of sweet snacks increased. The group said it benefited from strong shopper demand for its premium branded products despite pressure of consumers finances. Premier Foods, which also owns Ambrosia and Bisto, reported that overall revenues grew by 3.5% to £1.15 billion for the year to March 29, compared with a year earlier. It said this was buoyed by a 5.2% rise in all revenues across its branded business. The group's branded sweet treats business, which includes Mr Kipling and licenced Cadbury products, saw revenues grow by 7.3% for the period. Sales of Mr Kipling's Signature premium ranges were particularly strong, with the group highlighting a 78% jump in sales of its brownie bites while its 'best ever' mince pies saw revenues double. The company's separate grocery arm, which includes Batchelors and Sharwoods, saw branded revenues grow by 4.5% for the year. However, the company saw a slump in revenues from its non-branded division after it left the frozen pizza base market and shut its Leicestershire factory last year, which had 57 workers. Premier Foods also hailed strong performances from recently acquired brands The Spice Tailor and Fuel10K. The business told shareholders that trading profits grew by 6% to £187.7 million, ahead of market expectations. Alex Whitehouse, chief executive officer, said: 'The business has delivered another strong year, with branded revenue growth up 5.2%, exceeding £1 billion, and driven by particularly good volumes which resulted in us taking further market share. 'With this strong branded performance, trading profit grew 6% compared to last year, exceeding our previously raised expectations. 'Our premiumisation strategy continues to be highly relevant, reflecting the trend for consumers to trade up and treat themselves to ranges such as our Ambrosia Deluxe and Mr Kipling Signature Bites, both of which delivered very strong revenue growth this year.'
Rhyl Journal
15-05-2025
- Business
- Rhyl Journal
Premier Foods reveals rising profits amid stronger Mr Kipling sales
The group said it benefited from strong shopper demand for its premium branded products despite pressure of consumers finances. Premier Foods, which also owns Ambrosia and Bisto, reported that overall revenues grew by 3.5% to £1.15 billion for the year to March 29, compared with a year earlier. It said this was buoyed by a 5.2% rise in all revenues across its branded business. The group's branded sweet treats business, which includes Mr Kipling and licenced Cadbury products, saw revenues grow by 7.3% for the period. Sales of Mr Kipling's Signature premium ranges were particularly strong, with the group highlighting a 78% jump in sales of its brownie bites while its 'best ever' mince pies saw revenues double. The company's separate grocery arm, which includes Batchelors and Sharwoods, saw branded revenues grow by 4.5% for the year. However, the company saw a slump in revenues from its non-branded division after it left the frozen pizza base market and shut its Leicestershire factory last year, which had 57 workers. Premier Foods also hailed strong performances from recently acquired brands The Spice Tailor and Fuel10K. The business told shareholders that trading profits grew by 6% to £187.7 million, ahead of market expectations. Alex Whitehouse, chief executive officer, said: 'The business has delivered another strong year, with branded revenue growth up 5.2%, exceeding £1 billion, and driven by particularly good volumes which resulted in us taking further market share. 'With this strong branded performance, trading profit grew 6% compared to last year, exceeding our previously raised expectations. 'Our premiumisation strategy continues to be highly relevant, reflecting the trend for consumers to trade up and treat themselves to ranges such as our Ambrosia Deluxe and Mr Kipling Signature Bites, both of which delivered very strong revenue growth this year.' However, shares in the business were flat at 199.6p on Thursday morning.
