Latest news with #Goldrush
The Citizen
01-07-2025
- Business
- The Citizen
Place your bets please
Respected investment manager Piet Viljoen took a huge bet by getting involved in Goldrush. Is it time for a big payout? Gaming player Goldrush has a 50% stake in Sizekhaya, which will operate the National Lottery for eight years from June 2026. Picture: AdobeStock Founder and chief executive of the erstwhile Regarding Capital Management (RECM) is well known and well respected in SA's investment community. It is a reputation he built by delivering good returns over many decades by investing in solid, if sometimes boring, shares. That a value investor put a big bet on a gambling company that operates bingo games, one-armed bandits, online gambling and sports betting might have surprised many of his followers. He now has a piece of the National Lottery – and it looks like the punt on gambling company Goldrush Group will pay off within a year or so. The price of the listed Goldrush Holdings preference shares doubled within days of the announcement that Sizekhaya Holdings was awarded the licence to take over the operations of South Africa's National Lottery for a period of eight years. Goldrush Group has a share of 50% in Sizekhaya, which will reduce to 40% once other shareholders are introduced into Sizekhaya per the lottery licence conditions. The Goldrush prefs were trading below R5 at the beginning of May 2025, but jumped to R10 by 29 May after the minister of trade, industry and competition announced the winning bidder of the lottery licence. Read more Both Lotto and PowerBall had jackpot winners over the weekend The ordinary shares, which hold the voting rights, are not listed. Viljoen is still focused on investment management and manages billions on behalf of clients. Still, Goldrush slowly became a big investment in RECM. Eventually, the listed RECM sold its other investments and transformed into an operating gambling operation. Goldrush Holdings owns nearly 60% of the operating business, Goldrush Group. The group describes itself as a diversified gaming group with interests in sports betting, limited payout machine operations, bingo and a casino, as well as operating internet gambling sites. It says its activities include more than 4 400 electronic bingo terminals in 37 premises in six provinces, more than 2 700 gambling machines in 417 sports in seven provinces, 27 sports betting outlets in four provinces and two online sports betting sites. It claims over 20 years of operating in the SA and African gambling market and says it employs around 2 000 people. ALSO READ: You can still play Lotto today, after last minute announcement Billions Gambling in SA is a multi-billion-rand industry. Goldrush, only one of several big operators in SA, published its results for the year to end March 2025 on Monday, disclosing that gambling income increased by 5.6% over the previous year to R1.85 billion. This income comprises its net winnings, after paying out lucky gamblers. Revenue from selling food and beverages to gamblers added another R70 million. Operating profit came to R242 million and earnings after interest and tax amounted to just below R120 million. Jan van Niekerk, financial director of Goldrush, says RECM (and the Astoria private equity fund based in Mauritius) became big investors in Goldrush some 10 years ago. As with any private equity investment, the investment managers became closely involved in the business. 'Goldrush has shown good growth, because of a good management team,' he says, adding that the focus is to continue to grow profitability in order to reduce debt. The company is looking to increase its online offerings, but figures included in the annual results indicate that Goldrush can also increase its limited payout presence. It currently has 2 763 machines, but is licensed to operate 5 200. ALSO READ: Big change to Lotto operations: Will tickets be on sale next week? Lotto Viljoen and Van Niekerk are careful to tone down expectations about the national lottery licence in view of media reports claiming the operator will make billions. Van Niekerk says Sizekhaya will operate the lottery totally independent of Goldrush. 'Sizekhaya has the right and the obligation to promote and administer the sales of lottery tickets for the National Lottery,' says Van Niekerk. 'From the sales of the tickets, half of the proceeds must be used to fund payments to Lotto winners. 'After this, there is a compulsory contribution to the National Lotteries Distribution Trust Fund, a separate statutory entity established by the National Lotteries Commission to fund charitable and developmental initiatives across South Africa. 'From the remainder of the sales, the operator must fund the expenses of running the lottery. If it manages to do this efficiently, it will be left with a profit.' Viljoen added some perspective in his commentary to the results. 'Since the announcement, many of our shareholders have asked us to help them understand the value of this licence to Goldrush. 'Without being too glib about its prospects, we would caution shareholders to exercise appropriate judgement when reading any news about the National Lottery,' says Viljoen. 'The licence to operate the national lottery is obviously valuable. Helpfully, technology has improved and the cost of technology has reduced since the inception of the previous lottery periods. ALSO READ: Lotto jackpot is over R100m tonight, here are the biggest SA winners 'Some of the publicly available information we can share with you to help you shape your expectations is that the annual lottery ticket sales revenue in the most recently disclosed year was R6.5 billion. We think that a competent operator should make a profit margin in the low to mid-single digits,' he says. This indicates that profiting from the Lotto operations will be a year or two away as the starting date of the eight-year term is only 1 June 2026. 'The framework we use to think about the value to our shareholders is that the first year's profits will have to pay for the equipment and set-up costs (the business and physical infrastructure needed to run the business) and, on our assumption of the profit margins, shareholders of the operator could expect seven annual dividend payments after that,' says Van Niekerk. 'For the next year, Sizekhaya will be building the business infrastructure and physical infrastructure needed to take over the running of the lottery on 1 June 2026.' ALSO READ: National Lotteries Commission rolls out lifestyle audits, anti-fraud initiatives 'to rebuild trust' Lucrative The lottery contract is lucrative. The latest available annual report from the National Lotteries Commission discloses that the current operator generated nearly R7.3 billion in ticket sales in the year to March 2024. It notes that the contribution to good causes was R1.8 billion. It says the operator spent R968 million in procuring goods and services to support lottery operations. The listed Goldrush preference shares offer direct economic exposure to all of the Goldrush Group's interests. Preference shareholders can expect dividends based on gambling operations, including the future profits from Sizekhaya's running of the national lottery. This article was republished from Moneyweb. Read the original here.
Globe and Mail
23-06-2025
- Business
- Globe and Mail
Barrick Mining's Key Projects Advance: Will Execution Fuel the Future?
Barrick Mining Corporation B is executing its slate of high-return growth projects, underscoring a disciplined strategy that could reshape its production profile over the next decade. Its major gold and copper growth projects are advancing, laying the groundwork for the next generation of profitable production. The Goldrush mine is ramping up to the targeted 400,000 ounces of production per annum by 2028. Bordering Goldrush is the 100% Barrick-owned Fourmile, which is yielding grades double those of Goldrush and is anticipated to become another Tier One mine. The project has progressed to a pre-feasibility study, following a successful drilling program. Also, the Reko Diq copper-gold project in Pakistan is designed to produce 460,000 tons of copper and 520,000 ounces of gold annually in its second development phase, with the first production expected by the end of 2028. The Super Pit expansion at its Lumwana copper mine in Zambia is another strategic driver that entails doubling the present process circuit's throughput and substantially boosting mining volumes. Upon completion, the $2 billion project has the potential to transform Lumwana into a long-term, high-yielding, top-25 copper producer and Tier One copper mine. These assets are poised to deliver significant, low-cost production growth, enhancing Barrick's diversification and free cash flow profile should it execute these on schedule and within budget. With successful execution, Barrick will emerge with a more diversified production profile as copper would contribute more meaningfully to its revenue mix. Among its major peers, Newmont Corporation NEM continues to invest in growth projects in a calculated manner. Newmont is pursuing several projects, including Tanami Expansion 2 in Australia, the Ahafo North expansion in Ghana and Cadia Panel Caves in Australia. These projects should expand production capacity and extend mine life, driving Newmont's revenues and profits. Agnico Eagle Mines Limited AEM is making steady progress with its key value drivers and pipeline projects, including the Odyssey project in the Canadian Malartic Complex, Detour Lake, Hope Bay, Upper Beaver and San Nicolas. Agnico Eagle's Hope Bay project, with proven and probable mineral reserves of 3.4 million ounces, is expected to play a significant role in generating cash flow in the coming years. At Canadian Malartic, Agnico Eagle is advancing the transition to underground mining with the construction of the Odyssey mine and executing other opportunities to beef up annual production. B's Price Performance, Valuation & Estimates Barrick's shares have surged 35.1% year to date against the Zacks Mining – Gold industry's rise of 54.4%, courtesy of the gold price rally. From a valuation standpoint, B is currently trading at a forward 12-month earnings multiple of 10.51, a roughly 24.8% discount when stacked up with the industry average of 13.97X. It carries a Value Score of A. The Zacks Consensus Estimate for B's 2025 and 2026 earnings implies a year-over-year rise of 43.7% and 13.7%, respectively. The EPS estimates for 2025 and 2026 have been trending higher over the past 60 days. B stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Zacks' Research Chief Names "Stock Most Likely to Double" Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest. This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%. Free: See Our Top Stock And 4 Runners Up Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Newmont Corporation (NEM): Free Stock Analysis Report Agnico Eagle Mines Limited (AEM): Free Stock Analysis Report Barrick Mining Corporation (B): Free Stock Analysis Report
Yahoo
20-06-2025
- Business
- Yahoo
B vs. AEM: Which Gold Mining Stock Should You Bet on Now?
Barrick Mining Corporation B and Agnico Eagle Mines Limited AEM are two leading players in the gold mining space with global operations and diversified portfolios. While gold prices have fallen from their April 2025 peak, they remain favorable, aided by geopolitical tensions, and are currently hovering close to the $3,400 per ounce level. Against this backdrop, comparing these two major gold producers is particularly relevant for investors seeking exposure to the precious metals prices have rallied roughly 29% this year, largely attributable to aggressive trade policies, including sweeping new import tariffs announced by President Donald Trump that have intensified global trade tensions and heightened investor anxiety. Also, central banks worldwide have been accumulating gold reserves, led by risks arising from Trump's policies. Prices of the yellow metal catapulted to a record high of $3,500 per ounce on April 22. Increased purchases by central banks and geopolitical tensions worsened by the Israel-Iran conflict are factors expected to help the yellow metal sustain the rally. Let's dive deep and closely compare the fundamentals of these two Canada-based gold miners to determine which one is a better investment now. Barrick is well-placed to benefit from the progress in key growth projects that should significantly contribute to its production. Its major gold and copper growth projects, including Goldrush, the Pueblo Viejo plant expansion and mine life extension, Fourmile, Lumwana Super Pit and Reko Diq, are being executed. These projects are advancing on schedule and within budget, laying the groundwork for the next generation of profitable production. The Goldrush mine is ramping up to the targeted 400,000 ounces of production per annum by 2028. Bordering Goldrush is the 100% Barrick-owned Fourmile, which is yielding grades double those of Goldrush and is anticipated to become another Tier One mine. The project has progressed to a prefeasibility study on the back of a successful drilling program. The Reko Diq copper-gold project in Pakistan is designed to produce 460,000 tons of copper and 520,000 ounces of gold annually in its second development phase. The first production is expected by the end of October 2024, Barrick announced the commencement of the development of a Super Pit at its Lumwana copper mine in Zambia. The Super Pit Expansion entails doubling the present process circuit's throughput and substantially boosting mining volumes. Upon completion, the $2 billion project has the potential to transform Lumwana into a long-term, high-yielding, top-25 copper producer and Tier One copper mine. The expansion is expected to deliver 240,000 tons of copper production annually over the life of the has a solid liquidity position and generates healthy cash flows, positioning it well to take advantage of attractive development, exploration and acquisition opportunities, drive shareholder value and reduce debt. At the end of first-quarter 2025, Barrick's cash and cash equivalents were around $4.1 billion. It generated strong operating cash flows of roughly $1.2 billion in the quarter, up 59% year over year. Free cash flow surged to around $375 million in the first quarter from $32 million in the prior-year quarter. Barrick returned $1.2 billion to its shareholders in 2024 through dividends and repurchases. Barrick's board, in February 2025, authorized a new program for the repurchase of up to $1 billion of its outstanding common shares. It repurchased shares worth $143 million under this program during the first quarter. Barrick offers a dividend yield of 1.9% at the current stock price. Its payout ratio is 28% (a ratio below 60% is a good indicator that the dividend will be sustainable), with a five-year annualized dividend growth rate of roughly 5.1%.Barrick, however, is challenged by higher costs, which may eat into its margins. Its cash costs per ounce of gold and all-in-sustaining costs (AISC) — the most important cost metric of miners — increased around 16% and 20% year over year, respectively, in the first quarter. AISC increased due to higher total cash costs per ounce and higher minesite sustaining capital expenditures. For 2025, the company projects total cash costs per ounce of $1,050-$1,130 and AISC in the range of $1,460-$1,560 per ounce. These projections suggest a year-over-year increase at the midpoint of the respective ranges. Increased mine-site sustaining capital spending and higher labor costs may lead to higher costs. Agnico Eagle is focused on executing projects that are expected to provide additional growth in production and cash flows. It is advancing its key value drivers and pipeline projects, including the Odyssey project in the Canadian Malartic Complex, Detour Lake, Hope Bay, Upper Beaver and San Nicolas. The Hope Bay Project, with proven and probable mineral reserves of 3.4 million ounces, is expected to play a significant role in generating cash flow in the coming years. The processing plant expansion at Meliadine was completed and commissioned in the second half of 2024, with mill capacity expected to increase to roughly 6,250 tons per day in merger with Kirkland Lake Gold established Agnico Eagle as the industry's highest-quality senior gold producer. The integrated entity now has an extensive pipeline of development and exploration projects to drive sustainable growth. It also has the financial flexibility to fund a strong pipeline of growth has a robust liquidity position and generates substantial cash flows, which allow it to maintain a strong exploration budget, finance a strong pipeline of growth projects, pay down debt and drive shareholder value. Its operating cash flow jumped roughly 33% year over year to record $1,044 million in the first generated solid first-quarter free cash flows of $594 million, up around 50% year over year, backed by the strength in gold prices and strong operational results. It remains focused on paying down debt using excess cash, with net debt reducing by $212 million sequentially to just $5 million at the end of the first quarter. Its long-term debt-to-capitalization is just around 5%, lower than Barrick's 12.3%. AEM also returned around $920 million to its shareholders through dividends and repurchases last year and $251 million in the first quarter. AEM offers a dividend yield of 1.3% at the current stock price. It has a five-year annualized dividend growth rate of 10.3%. AEM has a payout ratio of 32%.Despite these positives, Agnico Eagle is still exposed to higher production costs. In the first quarter, its total cash costs per ounce of gold were up modestly from the previous year to $903. While AISC declined in the quarter due to the deferral of certain sustaining capital expenditures, AEM projects the same to increase in the remainder of 2025. AEM forecasts total cash costs per ounce in the range of $915 to $965 and AISC per ounce between $1,250 and $1,300 for 2025, suggesting a year-over-year increase at the midpoint of the respective ranges. While AEM is taking actions to control costs, the inflationary pressure is likely to continue over the near term, weighing on its profit margins and overall financial performance. Year to date, Barrick stock has gained 36.3%, while AEM stock has rallied 56.8% compared with the Zacks Mining – Gold industry's increase of 55.4%. Image Source: Zacks Investment Research Barrick is currently trading at a forward 12-month earnings multiple of 10.73, lower than its five-year median. This represents a roughly 23.8% discount when stacked up with the industry average of 14.08X. Image Source: Zacks Investment Research Agnico Eagle is trading at a premium to Barrick. The AEM stock is currently trading at a forward 12-month earnings multiple of 20.27, above the industry. Image Source: Zacks Investment Research The Zacks Consensus Estimate for B's 2025 sales and EPS implies a year-over-year rise of 13.7% and 43.7%, respectively. The EPS estimates for 2025 have been trending higher over the past 60 days. Image Source: Zacks Investment Research The consensus estimate for AEM's 2025 sales and EPS implies year-over-year growth of 23.6% and 43%, respectively. The EPS estimates for 2025 have been trending northward over the past 60 days. Image Source: Zacks Investment Research (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.) Both B and AEM currently have a Zacks Rank #3 (Hold), so picking one stock is not easy. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks Barrick and Agnico Eagle are well-positioned to capitalize on the current gold price environment. Both have a strong pipeline of development projects, solid financial health and strong earnings growth prospects, and are seeing favorable estimate revisions. On the flip side, both are buffeted by higher production costs. AEM's higher dividend growth rate suggests that it may offer better investment prospects in the current market environment. AEM's lower leverage also indicates lesser financial risks. Investors seeking exposure to the gold space might consider Agnico Eagle as the more favorable option at this time. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Agnico Eagle Mines Limited (AEM) : Free Stock Analysis Report Barrick Mining Corporation (B) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Metropolis Japan
19-06-2025
- Entertainment
- Metropolis Japan
Release Party of 旋回 / OVERFALL, Deep Blue / Deey & Leo Iwamura
To celebrate the release of OVERFALL's first album, Swirling, a release party will be held on Saturday, July 12, at nightclub solfa. The event also serves as the release of Deep Blue, a joint album by OVERFALL member Leo Iwamura and Okinawan rapper Deey. The music group OVERFALL arose in Tokyo when producers Leo Iwamura and ShinyAppLe connected over their love of early 1970s jazz. They soon enlisted bassist Daisuke Kazaoka, who brings reggae and dub influences to the mix. The members handle all aspects of the production, fusing Ableton-driven beat-making with live guitar, keys and other instruments. Their 2023 single Goldrush drew attention to itself and were picked up by Spotify's Mellow Beats playlist, and has racked up over 600,000 plays. In the wake of that success, OVERFALL has taken its show abroad–performing in Bangkok, Austin and Los Angeles; steadily building an international audience. It's possible to reserve tickets through this link.
Otago Daily Times
19-06-2025
- Otago Daily Times
A world-class wilderness adventure that's right in the backyard!
The adventure that you've been craving is on your doorstep, with the amazing Hollyford Wilderness Experience in Fiordland. Hollyford Wilderness Experience business manager Adam Dooney was inspired by many things when he first did the guided multi-day walk. Along with the stunning scenery, it was the guides and the hosting staff at the lodges along the way that impressed him most. 'I did not expect the quality of delivery, and how much passion and intimacy they bring to the experience,' he says. A true adventure, the all-inclusive Hollyford Wilderness Experience is extremely accessible to most walkers The unforgettable three night experience was a winner of Trip Advisor's Travellers' Choice Award in 2024, ranking it as one of the world's top attractions. Yet while international travellers visit for such experiences, many locals aren't aware of what's on offer right here. For those mature travellers in the lower South Island looking for an accessible adventure, the Hollyford Wilderness Experience is the perfect choice. The low altitude walk will take you from the mountains to the sea, and includes spectacular transfers by jet boat and helicopter. Small groups of no more than 16 people are led by engaging local guides. The experience is coloured by their rich storytelling that takes in both the natural history, and that of Ngāi Tahu and early European pioneers. And comfort is not compromised on the Hollyford Wilderness Experience. You'll only carry the essentials, while well-appointed private lodges deep in the native forest offer private rooms, hearty cuisine, outdoor hot tubs, and warm hospitality. Adam Dooney says it's the entire experience that separates the Hollyford Wilderness Experience from other options in the area. 'It's not just another walk, it's a full experience,' he emphasises. 'The Hollyford is one of the most beautiful valleys in Fiordland. You see everything from the foothills of some of Fiordland's largest mountains, through the beech forests, and out to the coastal environment of the West Coast.' Walkers will be deeply immersed in the hugely diverse natural environment of this incredible part of Aotearoa. The extremely knowledgeable guides weave stories of the area throughout the walk. This includes the Hollyford's history as a pounamu trail, historical Ngāti Mahaki pā at Martins Bay, and the proposed European settlement of Jamestown from the Goldrush era. 'Our staff absolutely love the place and enjoy sharing it with people,' Adam says. 'Some have been working for us for 25 years, so there's a lot of knowledge and a lot of passion there. What shines through is the connection between our customers and staff, and that's what really brings the whole place to life for everybody.' What is on offer with the Hollyford Wilderness Experience is sure to appeal to an emerging segment of the adventure market who are focused on quality. They're looking for something different, a more fulfilling experience that they emerge from richer than when they went in. As Adam says, it's amazing what we have on our back doorstep in this country - and particularly in this region. 'Fiordland and the Hollyford Valley are right there for the taking,' he marvels. 'These walks are so accessible for many people, and on an international basis they offer great value for money.' Anyone looking for a superb experience should visit for more information, or have a chat with one of the reservation team on 0800 832 226.
