Latest news with #MTB
Yahoo
15-05-2025
- Business
- Yahoo
MTB Metals to Focus on its Telegraph Copper-Gold Porphyry and Sell Certain Non-Core Assets
MTB to sell interests in four non-core exploration projects, preserving upside by retaining royalty interests. Strengthened balance sheet will help advance its Telegraph copper-gold porphyry project. Focus will be on advancing the multiple porphyry copper-gold targets identified at Telegraph. Several majors are showing interest in this project, located in British Columbia's prolific Golden Triangle. Vancouver, British Columbia--(Newsfile Corp. - May 15, 2025) - MTB Metals Corp. (TSXV: MTB) (OTCQB: MBYMF) (FSE: E8H) ("MTB" or the "Company") is pleased to announce that it has agreed to sell its interests in four of its exploration properties, the American Creek Property (consisting of Mountain Boy Property, Silver Crown Property, and Dorothy Property), Theia Property, BA Property and Red Cliff Property. Following the sale, the Company will focus on its main project - the Telegraph porphyry copper-gold project, located in British Columbia's prolific Golden Triangle. The four exploration properties are being acquired by Dolly Varden Silver Corporation ("Dolly Varden") in return for shares of Dolly Varden and a royalty across certain sale properties. One of the properties is located immediately adjacent to Dolly Varden's namesake property and the other properties are located nearby, in the Stewart region. Dolly Varden will assume and step into MTB's obligations under MTB's option agreement to acquire the Dorothy Property (the "Dorothy Option") and MTB's joint venture agreement with respect to the Red Cliff Property Lawrence Roulston, CEO of MTB Metals, stated: "We are delighted to become shareholders of Dolly Varden as it advances its large high-grade silver-gold project. MTB's Theia project, located immediately adjacent to Dolly Varden's Kitsault Valley project, will complement the Kitsault Valley project. In addition, Dolly Varden is well-funded and actively progressing exploration of these projects. The retained royalties ensure that MTB shareholders will benefit from exploration success on any of the properties. This transaction will provide MTB with a solid balance sheet and enable us to focus solidly on our Telegraph porphyry copper-gold project." Under the terms of the purchase and sale agreement between MTB and Dolly Varden, MTB will sell to Dolly Varden its interest in four non-core projects: the American Creek Property (consisting of Mountain Boy Property, Silver Crown Property, and Dorothy Property), Theia Property, BA Property and Red Cliff Property. In return, MTB will receive up to 500,000 shares of Dolly Varden (the "Consideration Shares") (valued at $1,825,000 based on Dolly Varden's closing price on May 14, 2025). MTB will also receive a 1% net smelter return (NSR) royalty across all the properties being transferred except Red Cliff and Dorothy. Dolly Varden is arm's length to MTB. No finders fees or commissions are payable by the Company in connection with the transaction. The transaction is subject to normal closing conditions including the approval of the TSX Venture Exchange ("TSXV"). In addition to the customary four month hold on the shares to be received, MTB has agreed that it will provide notice to Dolly Varden if it plans to sell any of the Consideration Shares. MTB will now focus on advancing its Telegraph porphyry copper-gold project (Figures 1 & 2). Earlier drilling has outlined a copper-gold mineralized porphyry system at the Dok zone spanning at least 3.3 km. Other large-scale porphyry targets have been identified on the 350 sq km Telegraph property, including Strata (5 km northeast of Dok) and Yeti (14 km southeast of Yeti). The Telegraph project is located in the same geological setting as four notable deposits in the northern part of the Golden Triangle, including the Red Chris mine, operated by Newmont. Figure 1 - Location of MTB Metal's Telegraph and Southmore Projects and 4 neighboring world class projects including the Red Chris Porphyry Cu-Au mine in northwestern British Columbia. To view an enhanced version of this graphic, please visit: Figure 2: Cross Section through drill hole DK-2023-001 and chargeability. The merged data is from 3 IP programs, conducted in 2012, 2022 and October of 2023 (after completion of the drilling). The data has not been formally leveled by a geophysicist and is for illustrative purposes only. To view an enhanced version of this graphic, please visit: The Telegraph property, with potential for multiple large-scale porphyries, has attracted considerable interest from major mining companies. Geologists from majors have travelled to MTB's cores storage facility at Stewart to examine the drill core, with visits to the Telegraph property planned for this summer. For further details on Telegraph, see the news releases dated: November 6, 2023, December 12, 2023 and January 17, 2024. MTB will also continue to advance the Southmore copper-gold project. Surface samples from Southmore include values of 20% copper and 35 g/t gold. The property hosts potential for a variety of deposit types, including skarn and porphyry. The Company anticipates securing a joint venture partner to fund further work at Southmore. Lawrence Roulston summarized the outlook for MTB: "This transaction will allow us to focus on the Telegraph project, where we see significant potential. The initial holes at the Dok target have confirmed the presence of a mineralized porphyry system spanning 3.3 kilometers which remains wide open. There are at least two other large-scale porphyry targets on the property. This is an extensive, complex, multi-phase system located in the same geological setting as four notable deposits. With a strong balance sheet, and interest from major mining companies, MTB Metals believes it is well-positioned to unlock the value of this extensive copper-gold system." QA/QC The technical disclosure in this release has been read and approved by Andrew Wilkins, a qualified person as defined in National Instrument 43-101. About MTB On closing of the transaction with Dolly Varden, MTB will have working interests in two projects and royalties on 4 projects which collectively span 601 square kilometres (60,100 hectares) in the prolific Golden Triangle of northern British Columbia. Telegraph: MTB controls 344 square kilometres of property located in the vicinity of 4 notable porphyry deposits being advanced by major mining companies: Galore (Teck/Newmont), Schaft (Teck), Saddle (Newmont) and the operating Red Chris copper-gold mine (Newmont). Field work by MTB, together with earlier results, provides compelling evidence for the presence of one or more porphyries, similar to others in the area. Southmore (100%) is in the midst of some of the largest deposits in the Golden Triangle. It was explored in the 1980s through the early 1990s and was overlooked until MTB consolidated the property and carried out airborne geophysics and field work which confirmed several zones of gold and copper, with values up to 20% copper and 35 g/t gold. Theia (1% NSR), adjacent to Dolly Varden's main project. Work by MTB and previous explorers has outlined a silver bearing mineralized trend, highlighted by a 2020 grab sample that returned 39 kg per tonne silver (1,100 ounces per ton). Two other zones on the property produced copper values over 5%. American Creek project (1% NSR) is centered on the historic Mountain Boy silver mine. The project is road accessible and 20 km from the deep-water port of Stewart. There are multiple silver, gold and copper occurrences on the property, including a 2006 drill hole that encountered 5 kgs of silver over 5 metres. BA (1% NSR): 182 drill holes have outlined a substantial zone of silver-lead-zinc mineralization located 4 km from the highway. Several targets with high-grade silver potential remain to be tested. The George Copper zone on the property hosts copper mineralization. Red Cliff (1.35% NSR) is a past producing gold and copper mine. Drill results from 2023 include 2 meters of 26 g/t gold. On behalf of the Board of Directors: Lawrence Roulston President & CEO For further information lawrence@ 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. This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, the exploration of the Company's properties and the benefits the Company will derive from the sale of certain non-core exploration projects to Dolly Varden. These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, that the Company will not receive the necessary regulatory approvals in respect of the sale of certain non-core exploration projects, that the Company will not continue to focus on its Telegraph porphyry copper-gold project, that the Company's shareholders will not benefit from exploration success on the sold properties, that the Company will not continue to advance its Southmore copper-gold project or that it will be unable to secure a joint venture partner to fund further work at Southmore, and that the Company is not well positioned to unlock the value of the copper-gold system at the Telegraph porphyry copper-gold project. In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company will receive the necessary regulatory approvals in respect of the sale of certain non-core exploration projects, that the Company's exploration plans will align with management's current expectations, that the Company will derive the benefits from the sale of the properties currently anticipated, and that the Company will secure a joint venture partner to further work at Southmore. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor. To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22-02-2025
- Business
- Yahoo
M&T Bank Full Year 2024 Earnings: In Line With Expectations
Revenue: US$8.67b (down 3.7% from FY 2023). Net income: US$2.45b (down 7.1% from FY 2023). Profit margin: 28% (down from 29% in FY 2023). The decrease in margin was driven by lower revenue. EPS: US$14.71 (down from US$15.85 in FY 2023). Net interest margin (NIM): 3.58% (down from 3.83% in FY 2023). Cost-to-income ratio: 56.9% (up from 54.9% in FY 2023). Non-performing loans: 1.25% (down from 1.62% in FY 2023). All figures shown in the chart above are for the trailing 12 month (TTM) period Revenue was in line with analyst estimates. Earnings per share (EPS) was also in line with analyst expectations. The primary driver behind last 12 months revenue was the Retail Bank (Includes Retail Banking, Business Banking and Residential Mortgage Banking) segment contributing a total revenue of US$4.81b (55% of total revenue). The largest operating expense was General & Administrative costs, amounting to US$4.51b (73% of total expenses). Explore how MTB's revenue and expenses shape its earnings. Looking ahead, revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Banks industry in the US. Performance of the American Banks industry. The company's shares are down 2.7% from a week ago. You still need to take note of risks, for example - M&T Bank has 1 warning sign we think you should be aware of. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
Associated Press
14-02-2025
- Business
- Associated Press
Macedonian Thrace Brewery: European Court of Justice Rules That Heineken N.V Must Answer for the Market Abuses of Its Greek Subsidiary
The European Court of Justice (ECJ) this week ruled that damages claims arises from market abuses by Heineken's Greek subsidiary should be decided in the Netherlands court. The ruling is a crucial milestone in efforts to make Heineken as a corporation accountable for the actions of its subordinate businesses. It followed closely ECJ Advocate General Kokott's September 2024 opinion, finding that there is a 'close connection' between the claims brought against both Heineken and its 98.8%-owned subsidiary on the basis that they form one and the same undertaking which infringed competition law which is sufficient to establish that the Netherlands is the appropriate jurisdiction to hear these claims. This week's decision represents the final setback for Heineken as it seeks to dodge liability in the Netherlands for the actions of Athenian Brewery. In October 2024, the Amsterdam District Court already cleared the way for MTB to seek damages from Heineken, finding that Heineken and its subsidiary formed part of a single undertaking and, as such, are jointly and severally liable for Athenian Brewery's proven market abuses. This week's ECJ ruling confirms that the Dutch Court is able to determine the amount in damages Heineken owes to MTB, in a hearing likely to be held this year. MTB is pursuing damages in excess of €180 million, including interest to date. At current rates, more than €7.8 million in interest is accruing annually. Heineken also faces similar claims from competitors – most immediately from Carlsberg, which revealed in October 2024 that it is seeking more than €300 million from the beer giant in a near identical damages claim also stemming from Heineken's market abuses in Greece. In recent years, Heineken has been fined or investigated by competition authorities in Austria, the US, UK, Hungary, India and elsewhere. Just this week, as Heineken announced its Full Year Results, a hearing began in the Austrian Cartel Court to determine the final sanction its subsidiary Brau Union will face for proven competition violations. The Austrian competition authority (AFCA) found in 2023 that it had committed anti-competitive practices 'that restrict the sales opportunities and market entry of competing brewers and oust existing drinks retailers from the market'. Given the scale of Brau Union's market abuse, the final penalty could be up to 10% of Heineken's global turnover generated in the preceding business year. Demetri Chriss, Director of Business Development at MTB, said: 'The ECJ ruling has finally confirmed, at the very highest level, that MTB was right to pursue damages claims in the Netherlands against both Heineken and Athenian Brewery. We find it fitting that the ECJ decision has been handed down 27 years to the day after MTB launched Vergina beer in Greece. There is no doubt in our minds that Heineken's elaborate tapestry of market abuses has been masterminded and orchestrated at head office, implemented through its revolving cast of Heineken 'lifers' who rotate in and out of their Greek Operating Company. We look forward this year to obtaining redress for the market abuses that Greece's competition regulator definitively identified more than a decade ago.' Palatine Communications Copyright Business Wire 2025. PUB: 02/14/2025 05:46 AM/DISC: 02/14/2025 05:47 AM
