Latest news with #KevinSmall
Yahoo
3 days ago
- Business
- Yahoo
Urgent £640k repairs needed at crematorium
Urgent repairs costing about £640,000 are needed at a town's crematorium, according to a report. Problems with machinery at Kingsdown Crematorium in Swindon, Wiltshire, began in 2022, when the heat exchanger, which cools the air leaving the three cremators so it can be filtered before exiting the building through its flues, failed. Since then, its flues and filtration system has also failed, with work also needed on the building's large canopy, cladding and tiles. Councillor Kevin Small, cabinet member for finance, is set to ask senior councillors to approve the budget for the work. More news stories for Wiltshire Listen to the latest news for Wiltshire According to the Local Democracy Reporting Service, if approved, the council will need to borrow the money. The report also said the failure of some of the parts had caused the council financial loss, with the council paying a fine of £45,000 per year because of the release of unfiltered gases. It also said repairs to fencing were needed at Whitworth Road Cemetery. "The cost of the repairs to the flues and filtration system is dependent on the scheduling of works as there are options around how the work is carried out," the report said. Taking the facility out of action could cost the council a significant sum, it said. The crematorium is expected to return a £730,000 surplus to the authority's finances in this financial year, but it only made that last year because there was a big underspend on repairs and maintenance. If councillors approve the borrowing of £640,000, the council expects to pay back £80,000 per year for 10 years. Follow BBC Wiltshire on Facebook, X and Instagram. Send your story ideas to us on email or via WhatsApp on 0800 313 4630. Grieving families angry at state of cemetery Plans for natural burial site for 2,000 graves Local Democracy Reporting Service Swindon Borough Council
BBC News
3 days ago
- Business
- BBC News
Urgent £640k repairs needed at Swindon crematorium, says report
Urgent repairs costing about £640,000 are needed at a town's crematorium, according to a with machinery at Kingsdown Crematorium in Swindon, Wiltshire, began in 2022, when the heat exchanger, which cools the air leaving the three cremators so it can be filtered before exiting the building through its flues, then, its flues and filtration system has also failed, with work also needed on the building's large canopy, cladding and Kevin Small, cabinet member for finance, is set to ask senior councillors to approve the budget for the work. According to the Local Democracy Reporting Service, if approved, the council will need to borrow the report also said the failure of some of the parts had caused the council financial loss, with the council paying a fine of £45,000 per year because of the release of unfiltered also said repairs to fencing were needed at Whitworth Road Cemetery."The cost of the repairs to the flues and filtration system is dependent on the scheduling of works as there are options around how the work is carried out," the report the facility out of action could cost the council a significant sum, it crematorium is expected to return a £730,000 surplus to the authority's finances in this financial year, but it only made that last year because there was a big underspend on repairs and councillors approve the borrowing of £640,000, the council expects to pay back £80,000 per year for 10 years.
BBC News
6 days ago
- Business
- BBC News
Highworth golf course new homes plan would be 'catastrophe'
A plan for hundreds of homes on a former golf course has been called a potential "catastrophe" by a campaign Borough Council (SBC) will discuss three options on 4 June for the old Highworth Golf Course; a nature reserve, 400 homes with a reserve or 700 homes with some said officers are recommending the larger homes scheme as it will provide more cash for taxpayers and more affordable against the scheme say surveys show the council-owned land is a haven for wildlife and is used by about 500 people a day. The council has said the 700 homes scheme would leave 46% of the site left as parkland for the public. Any decision from councillors will not be the final one, as officers would then have to carry out pre-application spokesman Rob New said "It would be a catastrophe if this green, open accessible land was built on."Nearly 5,000 residents signed a petition opposing that, and around 500 people use this valued space every day."He claims the council wants to "cash in" by selling part of the site for housing."The site is a haven for nature with over 300 species of flora and fauna having been identified there," added Mr New. Councillor Kevin Small, SBC's cabinet member for finance, said: "It is almost a year since we asked officers to carry out a detailed options appraisal of the former golf course and we've taken our time because this is an important decision on a popular borough-owned asset."He said SBC has consulted with the town council and community to consider the nature reserve Small added that while he understood the 700-home scheme was "unpopular", it was important to make the most of the land due to the authority's "extremely challenging position".The site, which has been owned by different councils since the 1970s, stopped being a golf course in 2019.
Globe and Mail
01-05-2025
- Business
- Globe and Mail
Minera Alamos Announces 2025 Outlook and 2024 Year End Financials
Kevin Small Appointed EVP Operations for Copperstone Development Toronto, Ontario--(Newsfile Corp. - May 1, 2025) - Minera Alamos Inc. (TSXV: MAI) (the "Company" or "Minera Alamos") is pleased to provide selected financial and operational highlights from its 2024 Annual Financial Statements and MD&A filed on Sedarplus on April 30 th, 2025. "The benefits of the new operating plan at Santana initiated in the middle of last year began to show with the improvement in mine operating performance in the last quarter of 2024. " stated Darren Koningen, CEO of Minera Alamos. "While there are signs of an improving permitting landscape in Mexico for 2025, the Company is aggressively advancing activities and plans for its newly acquired Copperstone mine in Arizona, US, providing us with a path to a meaningful increase in gold production in 2026 as we await paperwork for our next planned gold mine at Cerro de Oro. We are currently reviewing a number of indicative term sheets connected to project finance for Copperstone and hope to finalize the complete financing package in the coming months. In the meantime, we are expanding the technical team with the appointment of Kevin Small, as EVP Operations and are rapidly advancing engineering plans for the restart of the Copperstone project operations." 2025 Operational Outlook At the Santana gold mine, the Company anticipates increased gold production in 2025 over 2024 and 2023 levels as the mining and stacking activities initiated as part of the re-worked operating plan in 2024 begin to positively impact operating performance. As part of trade off studies completed at the beginning of the year, the Company focused on maximizing mining and stacking activities in Q1 2025 reducing pad availability for leaching operations. During preparation and construction of new pad areas based on the receipt of certain state level permit amendments (announced previously), the site operations can be temporarily redirected to increased gold leaching of previously stacked material until construction activities are complete. At the newly acquired Copperstone mine project engineering work continues to be ramped up. This includes optimization of the underground mine restart plans/schedule along with the completion of basis process plant design details to be submitted in the coming weeks as part of an adjustment to the existing Plan of Operations for the site which is anticipated to be approved towards the end of the year (2025). In addition, final preparations are being completed to transfer the existing used process plant equipment previously acquired by Minera Alamos to the Copperstone site so that refurbishment activities can be initiated in advance of their installation at site. Kevin Small will be formally joining the management group at Minera Alamos under the role of Executive Vice President of Mining Operations. Kevin is a Mining Engineer with 35 years in the industry and extensive involvement with the development and operation of underground mining projects. He was the former President and CEO of Jerritt Canyon Gold and an ex Director of Mining Operations at the Beta Hunt mine (Karora Resources) and has already been actively involved in the engineering work underway for the Company's Copperstone mine. Minera has received several indicative term sheets related to the project finance for the Copperstone project with due diligence ongoing. The Company expects to have a complete project finance package for the project in place early in the second half of 2025. The Project Economic Analysis ("PEA") for the Copperstone project was re-issued by Minera Alamos in February 2025. The report shows a base case NPV of US$66M at US$1800/oz gold (53.6% IRR) which rises to US$200M at US$2800/oz gold (152.7% IRR). To view an enhanced version of this graphic, please visit: At the Cerro de Oro gold project permitting process continues with the Company continuing to provide support for any follow-up requests from the permit authorities. It is expected that increased visibility should become available in the coming months as to the plans/timelines from the new government authorities in Mexico for issuing permits relating to mining activities. Engineering work continues to progress for Cerro de Oro in order to advance pre-development activities to coincide with the ultimate receipt of permits and a construction decision for the project. Included in 2025 will be further metallurgical optimization studies, detailed engineering design and additional exploration drilling aimed at filling-in and potentially expanding the areas of known gold mineralization (as outlined in Cerro de Oro Preliminary Economic Analysis (PEA) report dated October 3 rd, 2022) To view an enhanced version of this graphic, please visit: Operational Highlights (2024) At Santana, the Company completed plans to optimize the use of existing installed leach pad capacity to boost production prior to a partial pad expansion planned for mid year in 2025. These plans outlined approximately 25,000 oz of gold mineralization that could be mined and stacked over period including 2025 and around a scheduled partial leach pad expansion. Short-term mine plans (including access roads) were reworked to fall within existing authorized permit boundaries and mining activities at site started to ramp up later in 2024 following a temporary but significant reduction in mining activities in the prior year. The Company awaits a permit amendment for the long term expansion of the overall project operations. Total gold sold in 2024 was 2,806 ounces from the Santana Project of which 1,393 ounces (approximately 50%) was sold in Q4 as the benefits of the new mine plan led to increased leaching activity; with inventory on the leach pad of an additional recoverable 10,226 ounces as at December 31 st, 2024. The Suaqui Verde copper project was acquired and combined with the Company's existing Los Verdes and Potreritos copper assets in an existing Mexican subsidiary Cobre 4H de Sonora de Mexico (Minera will retain 50% ownership). Suaqui Verde is a significant copper porphyry deposit that was drilled previously by a number of groups including Phelps Dodge. The acquisition significantly compliments the Company's existing copper projects and creates the potential to form a regional copper production "hub" in southern Sonora. The Company is continuing to advance discussions regarding additional concession areas that would support advancing the copper portfolio either within the Company or as a standalone copper development company, In August 2024, the final US$1,000,000 property option payment was made resulting in full 100% ownership of the Cerro de Oro gold project that remains royalty free. In October 2024, the Company announced the acquisition of Sabre Gold Mines Corp. and its flagship Copperstone gold project, a permitted, brownfields, gold mining opportunity that can be fast tracked back into production with low capital requirements. The acquisition via Plan of Arrangement was completed in February 2025. Selected Financial Data: The following selected financial data is summarized from the Company's audited Financial Statements and related notes thereto (the "Annual Financial Statements') for the year ended December 31st, 2024, and the Management's Discussion and Analysis ("MD&A") for the year ended December 31st, 2024 (all numbers in Canadian dollars unless otherwise stated). A copy of the Financial Statements and MD&A is available on Sedarplus at Operationally, revenues (not factoring deferred revenue) totalled $8,915,799 (of which $4,955,977 was in Q4) with cost of goods sold and depletion amounting to $7,216,689 ($2,893,809 Q4) for a gross mine profit of $1,699,110 ($2,062,168 Q4). Unit costs remain temporarily higher due to the fixed costs of operations being spread over fewer ounces but still remained modestly positive. In addition, deferred revenue as at December 31, 2024 of $1,861,296 on a further 500 ounces of gold will be recorded as revenue in Q1 2025. The Company recorded net income of $1,693,960 or $0.003/share in Q4. For the full year the Company recorded a net loss of $17,567,930 or $0.038/share compared to a net loss of $2,855,552 in 2023. The change in the year over year net loss includes a non cash unrealized foreign exchange loss ($9,179,497) in the current year as compared to a gain of $7,319,954 in 2023 due the weakening of the Mexican Pesos against the Canadian Dollar.. The unrealized (loss) or gain is associated with the Company's historical accumulated inter-company funding of its operating Mexican subsidiaries which is likely to be repaid in the foreseeable future. The Mexican subsidiaries revalue the Mexican pesos at the end of each period generating a non-cash foreign exchange (loss) or gain. In addition, the net loss was exacerbated by the temporary reduction in gold production in the first three quarters of 2024 as the Company shifted Santana operations to a new mine operating plan in June as well as the final option payment for Cerro de Oro and an increase in costs which were associated with the Company's ongoing Corporate development activities. Cash and Cash Equivalents of $11,760,355 as at December 31 st, 2024 compared to $13,754,272 as at December 31 st, 2023. Working capital as of December 31 st, 2024 stood at $15,511,353 compared to $19,968,100 as at December 31 st, 2023. Cautionary Statement The Company made its production decision at the Santana gold mine without having completed a feasibility study demonstrating economic and technical viability. As such, there may be increased uncertainty of achieving planned production levels, estimated recovery of gold, the costs associated with such recovery, including increased risks associated with developing a commercially mineable deposit. Historically, such projects have a much higher risk of economic and technical failure. Mr. Darren Koningen, P. Eng., Minera Alamos' CEO, is the Qualified Person responsible for the technical content of this press release under National Instrument 43-101. About Minera Alamos Inc. Minera Alamos is a gold production and development Company. The Company has a portfolio of high-quality Mexican assets, including the 100%-owned Santana open-pit, heap-leach mine in Sonora that is currently going through the start-up of operations at the new Nicho Main deposit. The 100%-owned Cerro de Oro oxide gold project in northern Zacatecas has considerable past drilling and metallurgical work completed and the proposed mining project is currently being guided through the permitting process by the Company's permitting consultants. The La Fortuna open pit gold project in Durango (100%-owned) has a positive, robust preliminary economic assessment (PEA) completed, and the main Federal permits are in place. Minera Alamos is built around its operating team that together brought three open pit heap leach gold mines into successful production in Mexico over the last 14 years. Minera Alamos also wholly-owns the Copperstone mine and associated infrastructure in La Paz Country, Arizona, an advanced development asset with a permitted plan of operations that can be developed in parallel with planned project advancements in Mexico. The Company's strategy is to develop very low capex assets while expanding the projects' resources and continuing to pursue complementary strategic acquisitions. Caution Regarding Forward-Looking Statements This news release may contain forward-looking information and Minera Alamos cautions readers that forward-looking information is based on certain assumptions and risk factors that could cause actual results to differ materially from the expectations of Minera Alamos included in this news release. This news release includes certain "forward-looking statements", which often, but not always, can be identified by the use of words such as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". These statements are based on information currently available to Minera Alamos and Minera Alamos provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements with respect to Minera Alamos' future plans with respect to the Projects, objectives or goals, to the effect that Minera Alamos or management expects a stated condition or result to occur and the expected timing for release of a resource and reserve estimate on the projects. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, the economics of processing methods, project development, reclamation and capital costs of Minera Alamos' mineral properties, the ability to complete a preliminary economic assessment which supports the technical and economic viability of mineral production could differ materially from those currently anticipated in such statements for many reasons. Minera Alamos' financial condition and prospects could differ materially from those currently anticipated in such statements for many reasons such as: an inability to finance and/or complete an updated resource and reserve estimate and a preliminary economic assessment which supports the technical and economic viability of mineral production; changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with Minera Alamos' activities; and other matters discussed in this news release and in filings made with securities regulators. This list is not exhaustive of the factors that may affect any of Minera Alamos' forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on Minera Alamos' forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws. The Company does not have a feasibility study of mineral reserves, demonstrating economic and technical viability for the Santana project, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit. Historically, such projects have a much higher risk of economic and technical failure. Failure to commence production would have a material adverse impact on the Company's ability to generate revenue and cash flow to fund operations. NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Yahoo
07-03-2025
- Business
- Yahoo
Council selling industrial estates to pay off debt
A council has put two industrial estates up for sale for £16m to pay off some of its debt. Selling properties and increasing council tax by 4.99% were two measures approved by Swindon Borough Council last week to help plug a £14.7m shortfall. Council bosses have now confirmed they will sell Equity Trade Centre and the IO Centre on Hobley Drive in Stratton St Margaret. Councillor Kevin Small, the council's cabinet member for finance, said: "The sale and that of a number of other freeholds will be used to pay off short-term debt." More news stories for Wiltshire Listen to the latest news for Wiltshire The centres are part of a package of properties the council's cabinet agreed to sell in September, with the overall amount estimated to be about £22m, according to the Local Democracy Reporting Service. At the time, councillors were unable to confirm which properties were being sold. The industrial estates are currently let to 22 tenants on 25 separate leases, which generates about £1.1m annually in rent for the authority. Conservative shadow cabinet member for finance, councillor Dale Heenan, said the centres were "one of the crown jewels of Swindon Council's property portfolio". "This is described as a temporary measure because it can help reduce short-term borrowing costs by sacrificing £1m in annual income – money which the council needs to replace within ten years and there is no long-term plan," Mr Heenan added. Follow BBC Wiltshire on Facebook, X and Instagram. Send your story ideas to us on email or via WhatsApp on 0800 313 4630. Council puts assets up for sale to generate £21m Politicians approve maximum council tax increase Council want to sell assets to fill £14m budget hole Swindon Borough Council Local Democracy Reporting Service
