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Yahoo
27-05-2025
- Business
- Yahoo
Wesdome Reports Voting Results of Annual General Meeting of Shareholders
TORONTO, May 27, 2025 (GLOBE NEWSWIRE) -- Wesdome Gold Mines Ltd. (TSX:WDO, OTCQX:WDOFF) ('Wesdome' or the 'Company') today announces the results of its 2025 annual general meeting of shareholders (the 'Meeting') held earlier today. A replay of the Meeting is available on the Company's website. A total of 96,142,077 common shares were represented at the Meeting, representing 63.99% of the total issued and outstanding common shares of the Company. All matters presented for shareholder approval at the Meeting were approved, as follows: Election of the directors of the Company until the next annual meeting of shareholders; Appointment of Ernst & Young LLP as auditor of the Company and authorizing the directors to fix their remuneration; and Approval of an advisory non-binding resolution accepting the approach to executive compensation disclosed in the Company's Management Information Circular dated April 16, 2025. Election of Directors The following eight individuals were elected as directors of the Company until the next annual meeting of shareholders: Name of Nominee Votes For % For Votes Withheld / Abstain % Withheld / Abstain Anthea Bath 81,105,296 99.82 144,742 0.18 Edward Dowling 78,420,001 96.52 2,830,037 3.48 Louise Grondin 80,781,276 99.42 468,762 0.58 Jacqueline Ricci 79,794,650 98.21 1,455,388 1.79 Brian Skanderbeg 79,567,138 97.93 1,682,900 2.07 Edie Thome 79,505,421 97.85 1,744,617 2.15 Bill Washington 79,118,462 97.38 2,131,576 2.62 Philip Yee 81,180,828 99.91 69,210 0.09 Appointment of Auditor Based on proxies received and votes cast during the Meeting, Ernst & Young LLP, Chartered Accountants, were appointed as independent auditor of the Company until the next annual meeting of shareholders and the directors are authorized to fix their remuneration: VotesFor %For VotesWithheld / Abstain %Withheld / Abstain Appointment of Auditor 94,790,443 98.59 1,351,634 1.41 Advisory Vote on Executive Compensation Based on proxies received and votes cast by ballot during the Meeting, the advisory non-binding resolution accepting the approach to executive compensation disclosed in the Company's Management Information Circular dated April 16, 2025 was approved as follows: Votes For % For Votes Against % Against Advisory Vote on Executive Compensation 78,717,274 96.88 2,532,764 3.12 The Report of Voting Results has been filed under the Company's profile on SEDAR+ at About Wesdome Wesdome is a Canadian-focused gold producer with two high-grade underground assets – the Eagle River mine in Ontario and the Kiena mine in Quebec. The Company's primary goal is to responsibly leverage its operating platform and high-quality brownfield and greenfield exploration pipeline to build a growing value-driven Canadian gold producer. Raj Gill Trish Moran SVP, Corporate Development & Investor Relations VP, Investor Relations Phone: +1.416.360.3743 Phone: +1.416.564.4290 E-Mail: invest@ E-mail: PDF available:
Yahoo
09-05-2025
- Business
- Yahoo
Compass Minerals International Inc (CMP) Q2 2025 Earnings Call Highlights: Strategic Inventory ...
Release Date: May 08, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Compass Minerals International Inc (NYSE:CMP) successfully reduced North American highway deicing inventory values by 47% and volumes by 59% year over year. The company realized approximately $145 million in working capital release from inventory, aiding in reducing total debt by more than $170 million. Consolidated revenue for the second quarter increased by 36% year over year to $495 million. The company is well-positioned to optimize production and inventory levels for the upcoming North American highway deicing bid season. CMP increased its adjusted EBITDA guidance for the year, showing improvements in both the Salt and corporate segments. Operating loss for the quarter was $3.1 million, although improved from the previous year's $39.3 million loss. Consolidated net loss was $32 million, compared to a net loss of $38.9 million in the prior period. Pricing for salt was down 5% year over year, with net revenue per ton decreasing by 4%. Operating earnings per ton in the salt business decreased by 31%, and adjusted EBITDA per ton decreased by roughly 30%. The plant nutrition business saw an 8% decrease in pricing year over year, despite a 16% increase in revenue. Warning! GuruFocus has detected 9 Warning Signs with CMP. Q: Can you explain why accounts receivable levels rose from December to March, and if this will be a significant source of cash going forward? A: Peter Feldman, CFO, explained that there are a couple of insurance settlement matters within the accounts receivable and accounts payable balances, which caused a slight increase. However, as the quarter progresses, these balances are expected to decrease slightly due to the natural flow of inventory. Q: What insights can you share about the upcoming bid season for highway deicing salt, particularly regarding volume commitments and regional demand? A: Edward Dowling, CEO, noted that the market is more constructive compared to previous years due to lower inventories and a recent winter season. Ben Nichols, Chief Commercial Officer, added that early data points on tender sizes indicate a positive dynamic, with some regions showing significantly increased demand. Q: What are the plans for improving margins in the SOP (Sulfate of Potash) business, given recent high shipment levels? A: Edward Dowling, CEO, stated that efforts are underway to control brine chemistries and restore evaporation ponds to historical levels, which will help reduce SOP production costs. Pat Marin, COO, added that ongoing projects and capital improvements will drive incremental improvements over time. Q: How is the company addressing the balance sheet and cash flow statement, considering recent events? A: Peter Feldman, CFO, mentioned that the company is managing accounts receivable and payable balances, and expects a natural flow of inventory to help stabilize these figures. The company is also focused on reducing debt and optimizing cash flow. Q: What is the company's strategy for the North American highway deicing business, given the recent inventory drawdown? A: Edward Dowling, CEO, explained that the company successfully reduced inventory levels, freeing up cash and reducing debt. The company is now well-positioned to optimize production and inventory levels for the upcoming bid season, with a focus on maintaining flexibility in operations and capital plans. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
12-02-2025
- Business
- Yahoo
Compass Minerals International Inc (CMP) Q1 2025 Earnings Call Highlights: Navigating ...
Consolidated Revenue: $307 million, down 10% year over year. Net Loss: $24 million for the quarter. Adjusted EBITDA: Approximately $32 million for the quarter. Salt Business Revenue: $242 million, compared to $274 million a year ago. Salt Business Pricing: Up 1% year over year to approximately $97 per ton. Salt Business Volumes: Down 13% compared to the prior year period. Salt Business Operating Earnings per Ton: $11.79, down 34% year over year. Salt Business Adjusted EBITDA per Ton: $19.17, down 17% year over year. Plant Nutrition Revenue: $61 million, up 24% year over year. Plant Nutrition Sales Volumes: Up 36% from prior year periods. Plant Nutrition Pricing: Down 9% year over year. Liquidity at Quarter End: $126 million, with $46 million in cash and $80 million in revolver capacity. Net Leverage Ratio: 5.9 times, within the covenant of 6.5 times. Warning! GuruFocus has detected 9 Warning Signs with CMP. Release Date: February 11, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Compass Minerals International Inc (NYSE:CMP) successfully reduced North American highway deicing inventory volumes by approximately 10% year over year, freeing up cash and improving supply-demand balance. The company reported stronger sales volumes and lower costs in the plant nutrition business, allowing them to exceed forecasts and increase guidance for this segment. CMP is making progress in restoring the pond complex at Ogden, which is beginning to show positive results and impact on cost structure. The company is implementing a disciplined approach to capital expenditure, allowing flexibility to adjust spending based on seasonal performance. CMP is focused on improving operational efficiency and reliability, which is expected to have a positive impact on capital expenditure over time. Consolidated revenue for the first quarter was down 10% year over year, primarily due to a lighter start in sales in the salt business attributed to mild weather in October and November. The company reported a consolidated net loss of $24 million for the quarter, with adjusted EBITDA at approximately $32 million. Salt business revenue decreased to $242 million from $274 million a year ago, with volumes down 13% compared to the prior year period. Pricing in the plant nutrition business was weaker than expected, despite stronger sales volumes. CMP lowered its full-year volume guidance due to a slow start to the winter season, despite recent strong snow activity. Q: Given the recent winter weather activity, can you frame the outlook for highway deicing volumes in both Q2 and the full year? A: Edward Dowling, CEO: January was strong, especially in southern markets, and February is looking promising. We'll assess inventory and production plans based on how the season concludes in March. Q: What does "conditionally qualified" mean for Fortress? A: Edward Dowling, CEO: It refers to the initial lab-based approval by the Forest Service. The next step is the operational field evaluation, which includes integration testing with existing retardants. Q: Why did you lower your full-year volume guidance despite recent snow activity? A: Edward Dowling, CEO: We are cautious with guidance due to the slow start in October and November. If February and March perform well, we may adjust guidance upwards. Q: Can you discuss the accounts receivable line and inventory targets? A: Edward Dowling, CEO: We aim to reduce inventories below historical norms to free up cash. Brent Collins, VP of Investor Relations, added that accounts receivable reflects sales timing and a $35 million insurance-related gross-up. Q: Are you deferring or canceling $25 million in CapEx, and what projects are affected? A: Peter Fjellman, CFO: We are deferring lower-risk projects from the 2025 capital plan. These may reappear in 2026, depending on the year's performance. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
