Latest news with #MVC
Indian Express
2 days ago
- Indian Express
Maha Vir Chakra awardee's kin present his medals to Garhwal Rifles Regiment
In a solemn ceremony to commemorate the 60th death anniversary of Captain Chander Narain Singh who had laid down his life during the India Pakistan War of 1965, the officer's family presented his medals to the Garhwal Rifles Regiment as a tribute to his legacy. Sukhdev Singh, brother of the late officer, handed over the Maha Vir Chakra (MVC) and other service medals to Lieutenant General DS Rana, Commander-in-Chief, Andaman and Nicobar Command (CINCAN), who received them on behalf of the Regiment. Lt Gen DS Rana paid tributes to Captain Singh, describing him as a true symbol of bravery, leadership and patriotism. He expressed deep gratitude to the family for entrusting the Regiment with his medals and affirmed that the legacy of the officer would continue to inspire future generations of Indian soldiers. Captain Singh was posthumously awarded the Maha Vir Chakra, India's second-highest wartime gallantry award, for his exceptional bravery and leadership during the India Pakistan War of 1965. Born on July 7, 1939 in Shikarpur, Garhwal (Uttar Pradesh), he was attached to Headquarters 120 Infantry Brigade when, on August 5, 1965, reports emerged of over 100 Pakistani infiltrators in the Brigade's Area of Responsibility. Tasked with verifying the threat, he led a patrol to a high-altitude region comprising Chhu-i-Nar and Op Hill features. While flushing the area, his team came under heavy enemy fire and grenade attacks. Undeterred and despite being outnumbered, he chose to launch a night assault, during which his small team neutralised six enemy soldiers and injured several others, forcing the rest to retreat. Even after being hit in the head by enemy fire during a counterattack, Captain Singh continued to lead and refused evacuation, ultimately laying down his life in the line of duty. The medals presented by the family members of the Braveheart will be preserved and displayed at the Garhwal Rifles Regimental Centre Museum in Lansdowne, Uttarakhand.
Time of India
3 days ago
- General
- Time of India
60 years on, 1965 war heroism lives on: Family gifts Capt C N Singh's Maha Vir Chakra to Garhwal Rifles
Chandigarh: A moment of immense honour unfolded in Dharamshala, Himachal Pradesh, on Tuesday, when Sukhdev Singh — brother of the valiant late Capt Chander Narayan Singh — presented the Maha Vir Chakra (MVC) and other medals of his decorated war hero brother to the Garhwal Rifles regiment. Capt Chander Narayan Singh, popularly called Capt C N Singh, is remembered as one of Himachal Pradesh's 13 recipients of the Maha Vir Chakra—the nation's second-highest military gallantry award for bravery in the face of enemy. On behalf of the Garhwal Rifles, the MVC was received by Lt Gen D S Rana, colonel of the Garhwal Rifles and Garhwal Scouts and the commander-in-chief of the Andaman and Nicobar Command. The ceremony was also attended by Lt Gen Rajan Sharawat, GOC, 9 Corps; Brig Vinod Singh Negi, commandant, Garhwal Rifles Regimental Centre; Col Vishal Kumar Singh, commanding officer of 2 Garhwal Rifles, several veterans, and serving officers and troops of the Garhwal Rifles. In his address, Lt Gen Rana expressed gratitude to the family of Capt C N Singh for presenting the medals and alluded that the war hero was a true embodiment of courage, leadership, and bravery. "His legend will continue to inspire generations of Indian youth and future soldiers. The medals will be displayed at the Garhwal Rifles Regimental Centre Museum, Lansdowne, Uttarakhand. This will serve as a source of inspiration and will keep the legacy of Capt CN Singh alive in the heart of the Indian Army and the Nation for posterity," he added. On Aug 5, 1965, during the Indo-Pak war, Capt C N Singh, a young officer of 2 Garhwal Rifles, made the supreme sacrifice in the line of duty while fighting Pakistani infiltrators. For his exceptional courage, bravery, and devotion to the nation, he was conferred with the Maha Vir Chakra. The handing over of the MVC by the family to the regiment was organised by the army on Tuesday to mark the 60th death anniversary of the gallant soldier.
Yahoo
30-07-2025
- Business
- Yahoo
Amerigo Announces Q2-2025 Results & Quarterly Dividend
Q2-2025 Net Income of $7.5 million Robust EBITDA1 of $17.8 million and Free Cash Flow to Equity1 of $6.5 million 16th Consecutive Quarterly Dividend of Cdn$0.03 Declared $7.6 million Returned through Dividends and Share Buybacks in Q2-2025 VANCOUVER, British Columbia, July 30, 2025 (GLOBE NEWSWIRE) -- Amerigo Resources Ltd. (TSX: ARG; OTCQX: ARREF) ('Amerigo' or the 'Company') is pleased to announce a strong financial performance for the three months ended June 30, 2025 ('Q2-2025'). Dollar amounts in this news release are in U.S. dollars unless indicated otherwise. Amerigo's Q2-2025 financial results included net income of $7.5 million, earnings per share ('EPS') of $0.05, EBITDA1 of $17.8 million, operating cash flow from operations before changes in non-cash working capital1 of $11.9 million and free cash flow to equity1 of $6.5 million. In Q2-2025, Amerigo returned $3.5 million to shareholders through its quarterly dividend of Cdn$0.03 per share and $4.0 million from the purchase and cancellation of 3.1 million common shares through a Normal Course Issuer Bid ('NCIB'). 'We are pleased to report strong financial results for the second quarter of 2025. Our operation, Minera Valle Central ('MVC'), once again met its production, cash cost1 and safety targets. Building upon those achievements, Amerigo is on track to meet annual guidance and be debt-free by year-end,' said Aurora Davidson, Amerigo's President and CEO. 'On the back of MVC's stellar operational performance and rising copper prices, Amerigo continues to rapidly return capital to shareholders under the Company's well-established Capital Return Strategy. In Q2-2025 alone, Amerigo bought and cancelled 3.1 million shares under its Normal Course Issuer Bid and paid its fifteenth consecutive quarterly dividend. In the first half of the year, the Company's free cash flow to equity1 was $11.3 million, and $12.1 million was returned to shareholders,' she added. 'We continue to expect strong, long-term copper demand around the world. Supportive fundamentals remain in place, despite trade tensions and the tariff-induced short-term logistical repositioning of significant copper cathode stocks to the United States. This repositioning has created a historical price arbitrage between the Comex and LME markets, which we believe will be resolved over time, albeit with continued upward pressure on copper prices. 1 This is a non-IFRS measure. See 'Non-IFRS Measures' for further information. In this macro setting, we believe that Amerigo's unique business model, which produces copper without a mine and avoids traditional mining and exploration risks, will continue to shine. With minimal debt and a significant, consistent return of capital to shareholders, Amerigo provides a clean and unencumbered exposure to the rising copper prices that we expect will continue,' Ms. Davidson added. On July 28, 2025, Amerigo's Board of Directors declared its sixteenth consecutive quarterly dividend. The dividend will be in the amount of Cdn$0.03 per share, payable on September 19, 2025, to shareholders of record as of August 29, 20253. Amerigo designates the entire amount of this taxable dividend to be an 'eligible dividend' for purposes of the Income Tax Act (Canada), as amended from time to time. Based on Amerigo's June 30, 2025, share closing price of Cdn$2.17, the Cdn$0.03 quarterly dividend declared on July 28, 2025, represents an annual dividend yield of 5.53%. This news release should be read with Amerigo's interim consolidated financial statements and Management's Discussion and Analysis ('MD&A') for Q2-2025, available on the Company's website at and on the SEDAR+ website at Q2-2025 Q2-2024 $ $ MVC's copper price ($/lb)4 4.42 4.39 Revenue ($ millions) 50.8 51.6 Net income ($ millions) 7.5 9.8 EPS ($) 0.05 0.06 EPS (Cdn) 0.06 0.08 EBITDA1 ($ millions) 17.8 22.3 Operating cash flow before changes in non-cash working capital1 ($ millions) 11.9 14.3 FCFE1 ($ millions) 6.5 6.7 June 30, 2025 Dec. 31, 2024 Cash ($ millions) 23.3 35.9 Restricted cash ($ millions) 0.9 4.4 Borrowings ($ millions) 7.0 10.7 Shares outstanding at end of period (millions) 161.5 164.5 Highlights and Significant Items In Q2-2025, Amerigo's posted net income of $7.5 million (Q2-2024: $9.8 million), driven by copper production from MVC of 15.5 million pounds ('M lbs') (Q2-2024: 14.0 M lbs) at an average MVC copper price of $4.42 per pound ('/lb') (Q2-2024: $4.39/lb). In Q2-2024, net income was higher as a result of $6.9 million in positive fair value adjustments to copper revenue receivables from a sharp quarter-on-quarter copper price appreciation (Q2-2025: $0.7 million). EPS in Q2-2025 was $0.05 (Cdn$0.06), compared to $0.06 (Cdn$0.08) in Q2-2024. The Company generated operating cash flow before changes in non-cash working capital1 of $11.9 million in Q2-2025, compared to $14.3 million in Q2-2024. The Company's quarterly net operating cash flow was $6.3 million (Q2-2024: $23.8 million) after changes in working capital in the period, most notably a $9.5 million reduction in current income tax liabilities associated with MVC's final 2024 income tax payment and reductions of $2.1 million in trade and other receivables. Free cash flow to equity1 was $6.5 million in Q2-2025 (Q2-2024: $6.7 million), after debt repayments of $4.0 million (Q2-2024: $4.2 million) and capital expenditures ('Capex') payments of $1.4 million (Q2-2024: $3.4 million). In Q2-2025, Amerigo returned $7.6 million to shareholders (Q2-2024: $3.6 million). This included $3.5 million returned to shareholders through Amerigo's regular quarterly dividend of Cdn$0.03 per share (Q2-2024: $3.6 million or Cdn$0.03 per share) and $4.0 million from the purchase and cancellation of 3.1 million common shares through a NCIB (Q2-2024: $nil). Q2-2025 cash cost1 was $1.82/lb (Q2-2024: $1.96/lb). The $0.14/lb reduction in cash cost was primarily due to a $0.19/lb decrease in smelting and refining charges, in response to the current annual benchmark, offset by a $0.03/lb increase in lime cost and a $0.03/lb increase in other direct costs. On June 30, 2025, the Company held cash and cash equivalents of $23.3 million (December 31, 2024: $35.9 million), restricted cash of $0.9 million (December 31, 2024: $4.4 million), and its working capital deficiency was $5.4 million, down from a working capital deficiency of $6.5 million on December 31, 2024. The Company's financial performance is sensitive to changes in copper prices. MVC's Q2-2025 provisional copper price was $4.42/lb. The final prices for April, May, and June 2025 sales will be based on the average London Metal Exchange ('LME') prices for July, August, and September 2025, respectively. A 10% increase or decrease from the $4.42/lb provisional price used on June 30, 2025, would result in a $6.9 million change in revenue in Q3-2025 regarding Q2-2025 production4. Investor Conference Call on July 31, 2025 Amerigo's quarterly investor conference call will occur on Thursday, July 31, 2025, at 11:00 a.m. Pacific Daylight Time/2:00 p.m. Eastern Daylight Time. Participants can join by visiting and entering their name and phone number. The conference system will then call the participants and place them instantly into the call. Alternatively, participants can dial directly to be entered into the call by an Operator. Dial 1-888-510-2154 (Toll-Free North America) and state they wish to participate in the Amerigo Resources Q2-2025 Earnings Call. Interactive Analyst Center Amerigo's public financial and operational information is available for download in Excel format through Virtua's Interactive Analyst Center ('IAC'). You can access the IAC by visiting under Investors > Interactive Analyst Center. About Amerigo and Minera Valle Central ('MVC') Amerigo Resources Ltd. is an innovative copper producer with a long-term relationship with Corporación Nacional del Cobre de Chile ('Codelco'), the world's largest copper producer. Amerigo produces copper concentrate, and molybdenum concentrate as a by-product at the MVC operation in Chile by processing fresh and historic tailings from Codelco's El Teniente mine, the world's largest underground copper mine. Tel: (604) 681-2802; Web: ARG:TSX; OTCQX: ARREF. Contact Information Aurora Davidson Graham Farrell President and CEO Investor Relations (604) 697-6207 (416) 842-9003 ad@ graham@ Summary Consolidated Statements of Financial Position June 30, December 31, 2025 2024 $ thousands $ thousands Cash and cash equivalents 23,253 35,864 Restricted cash 876 4,449 Property, plant and equipment 138,652 143,708 Other assets 23,722 21,450 Total assets 186,503 205,471 Total liabilities 83,177 100,682 Shareholders' equity 103,326 104,789 Total liabilities and shareholders' equity 186,503 205,471 Summary Consolidated Statements of Income and Comprehensive Income Three months ended June 30, 2025 2024 $ thousands $ thousands Revenue 50,846 51,602 Tolling and production costs (38,697 ) (35,109 ) Other expenses (1,542 ) (797 ) Finance expense (419 ) (353 ) Income tax expense (2,644 ) (5,576 ) Net income 7,544 9,767 Other comprehensive (loss) income (430 ) 42 Comprehensive income 7,114 9,809 Earnings per share - basic & diluted 0.05 0.06 Summary Consolidated Statements of Cash Flows Three months ended June 30, 2025 2024 $ thousands $ thousands Cash flow from operating activities 11,869 14,315 Changes in non-cash working capital (5,525 ) 9,490 Net cash from operating activities 6,344 23,805 Net cash used in investing activities (1,357 ) (3,384 ) Net cash used in financing activities (9,414 ) (6,001 ) Net decrease in cash and cash equivalents (4,427 ) 14,420 Effect of foreign exchange rates on cash 22 515 Cash and cash equivalents, beginning of period 27,658 13,801 Cash and cash equivalents, end of period 23,253 28,736 1 Non-IFRS Measures This news release includes five non-IFRS measures: (i) EBITDA, (ii) operating cash flow before changes in non-cash working capital, (iii) free cash flow to equity ('FCFE'), (iv) free cash flow ('FCF') and (v) cash cost. These non-IFRS performance measures are included in this news release because they provide key performance measures used by management to monitor operating performance, assess corporate performance, and plan and assess the overall effectiveness and efficiency of Amerigo's operations. These performance measures are not standardized financial measures under International Financial Reporting Standards as issued by the International Accounting Standards Board ('IFRS Accounting Standards'), and, therefore, amounts presented may not be comparable to similar financial measures disclosed by other companies. These performance measures should not be considered in isolation as a substitute for performance measures in accordance with IFRS Accounting Standards. (i) EBITDA refers to earnings before interest, taxes, depreciation, and administration and is calculated by adding depreciation expense to the Company's gross profit. (Expressed in thousands) Q2-2025 Q2-2024 $ $ Gross profit 12,149 16,493 Add: Depreciation and amortization 5,686 5,821 EBITDA 17,835 22,314 (ii) Operating cash flow before changes in non-cash working capital is calculated by adding back the decrease or subtracting the increase in changes in non-cash working capital to or from cash provided by operating activities. (Expressed in thousands) Q2-2025 Q2-2024 $ $ Net cash provided by operating activities 6,344 23,805 Add (deduct): Changes in non-cash working capital 5,525 (9,490 ) Operating cash flow before non-cash working capital 11,869 14,315 (iii) Free cash flow to equity ('FCFE') refers to operating cash flow before changes in non-cash working capital, less capital expenditures, plus new debt issued less debt repayments. FCFE represents the amount of cash generated by the Company in a reporting period that can be used to pay for the following: a) potential distributions to the Company's shareholders and b) any additional taxes triggered by the repatriation of funds from Chile to Canada to fund these distributions. Free cash flow ('FCF') refers to FCFE plus repayments of borrowings. (Expressed in thousands) Q2-2025 Q2-2024 $ $ Operating cash flow before changes in non-cash working capital 11,869 14,315 Deduct: Cash used to purchase plant and equipment (1,357 ) (3,384 ) Repayment of borrowings, net of new debt issued (4,000 ) (4,244 ) Free cash flow to equity 6,512 6,687 Add: Repayment of borrowings, net of new debt issued 4,000 4,244 Free cash flow 10,512 10,931 (iv) Cash cost is a performance measure commonly used in the mining industry that is not defined under IFRS. Cash cost is the aggregate of smelting and refining charges, tolling/production costs net of inventory adjustments and administration costs, net of by-product credits. Cash cost per pound produced is based on pounds of copper produced and is calculated by dividing cash cost by the number of pounds of copper produced. (Expressed in thousands) Q2-2025 Q2-2024 $ $ Tolling and production costs 38,697 35,109 Add (deduct): Smelting and refining charges 3,554 5,791 Transportation costs 407 374 Inventory adjustments (367 ) (548 ) By-product credits (7,023 ) (6,399 ) Depreciation and amortization (5,686 ) (5,821 ) DET royalties - molybdenum (1,299 ) (1,056 ) Cash cost 28,283 27,450 Copper tolled (M lbs) 15.52 13.98 Cash cost ($/lb) 1.82 1.96 2 Capital returned to shareholders The table below summarizes the capital returned to shareholders since the implementation of Amerigo's Capital Return Strategy in October 2021. (Expressed in millions) Shares repurchased Dividends Paid Total $ $ $ 2021 8.8 2.8 11.6 2022 12.3 15.8 28.1 2023 2.6 14.6 17.2 2024 1.8 19.4 21.2 2025 5.1 7.0 12.1 30.6 59.6 90.2 3 Dividend dates A dividend of Cdn$0.03 per share will be paid on September 19, 2025, to shareholders of record as of August 29, 2025. Under the 'T+1 settlement cycle', the Company's shares will commence trading on an ex-dividend basis at the opening of trading on August 29, 2025. Shareholders purchasing Amerigo shares on or after the ex-dividend date will not receive this dividend, as it will be paid to the selling shareholders. Shareholders purchasing Amerigo shares before the ex-dividend date will receive the dividend. 4 MVC's copper priceMVC's copper price is the average notional copper price for the period before smelting and refining, DET notional copper royalties, transportation costs and excluding settlement adjustments to prior period sales. MVC's pricing terms are based on the average LME copper price of the third month following the delivery of copper concentrates produced under the DET tolling agreement ('M+3'). This means that when final copper prices are not yet known, they are provisionally marked to market at the end of each month based on the progression of the LME-published average monthly M and M+3 prices. Provisional prices are adjusted monthly using this consistent methodology until they are settled. Q1-2025 copper deliveries were marked to market on March 31, 2025, at an average price of $4.42/lb and were settled in Q2-2025 as follows: January 2025 sales settled at the April 2025 LME average price of $4.17/lb February 2025 sales settled at the May 2025 LME average price of $4.32/lb March 2025 sales settled at the June 2025 LME average price of $4.46/lb Q2-2025 copper deliveries were marked to market on June 30, 2025, at an average price of $4.42/lb and will be settled at the LME average prices for July, August, and September 2025. Cautionary Statement Regarding Forward-Looking Information This news release contains certain 'forward-looking information' as such term is defined under applicable securities laws (collectively called "forward-looking statements"). This information relates to future events or the Company's future performance. All statements other than statements of historical fact are forward-looking statements. The use of any of the words "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "should", "believe" and similar expressions are intended to identify forward-looking statements. These forward-looking statements include, but are not limited to, statements concerning: forecasted production and operating costs; our strategies and objectives; our estimates of the availability and quantity of tailings and the quality of our mine plan estimates; prices and price volatility for copper, molybdenum and other commodities and materials we use in our operations; the demand for and supply of copper, molybdenum and other commodities and materials that we produce, sell and use; sensitivity of our financial results and share price to changes in commodity prices; our financial resources and financial condition; interest and other expenses; domestic and foreign laws affecting our operations; our tax position and the tax rates applicable to us; our ability to comply with our loan covenants; the production capacity of our operations, our planned production levels and future production; potential impact of production and transportation disruptions; hazards inherent in the mining industry causing personal injury or loss of life, severe damage to or destruction of property and equipment, pollution or environmental damage, claims by third parties and suspension of operations estimates of asset retirement obligations and other costs related to environmental protection; our future capital and production costs, including the costs and potential impact of complying with existing and proposed environmental laws and regulations in the operation and closure of our operations; repudiation, nullification, modification or renegotiation of contracts; our financial and operating objectives; our environmental, health and safety initiatives; the outcome of legal proceedings and other disputes in which we may be involved; the outcome of negotiations concerning metal sales, treatment charges and royalties; disruptions to the Company's information technology systems, including those related to cybersecurity; our dividend policy, including the security of the quarterly dividends and our Capital Return Strategy; and general business and economic conditions, including, but not limited to, our assessment of strong market fundamentals supporting copper forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such statements. Inherent in forward-looking statements are risks and uncertainties beyond our ability to predict or control, including risks that may affect our operating or capital plans; risks generally encountered in the operation, permitting and development of mineral projects such as unusual or unexpected geological formations, negotiations with government and other third parties, unanticipated metallurgical difficulties, delays associated with permits, approvals and permit appeals, ground control problems, adverse weather conditions (including, but not limited, to heavy rains), process upsets and equipment malfunctions; risks associated with labour disturbances and availability of skilled labour and management; risks related to the potential impact of global or national health concerns; government or regulatory actions or inactions, including, but not limited to, the imposition of tariffs on the importation of copper; fluctuations in the market prices of our principal commodities, which are cyclical and subject to substantial price fluctuations; risks created through competition for mining projects and properties; risks associated with lack of access to markets; risks associated with availability of and our ability to obtain both tailings from Codelco's Division El Teniente ('DET') current production and historic tailings from tailings deposit; the availability of and ability of the Company to obtain adequate funding on reasonable terms for expansions and acquisitions; mine plan estimates; risks posed by fluctuations in exchange rates and interest rates, as well as general economic conditions; risks associated with environmental compliance and changes in environmental legislation and regulation; risks associated with our dependence on third parties for the provision of critical services; risks associated with non-performance by contractual counterparties; risks associated with supply chain disruptions; title risks; social and political risks associated with operations in foreign countries; risks of changes in laws affecting our operations or their interpretation, including foreign exchange controls; and risks associated with tax reassessments and legal proceedings. Many of these risks and uncertainties apply to the Company and its operations, as well as DET and its operations. DET's ongoing mining operations provide a significant portion of the materials the Company processes and its resulting metals production. Therefore, these risks and uncertainties may also affect the Company's operations and have a material effect. Actual results and developments will likely differ materially from those expressed or implied by the forward-looking statements in this news release. Such statements are based on several assumptions which may prove to be incorrect, including, but not limited to, assumptions about: general business and economic conditions; interest and currency exchange rates; changes in commodity and power prices; acts of foreign governments and the outcome of legal proceedings; the supply and demand for deliveries of and the level and volatility of prices of copper, molybdenum and other commodities and products used in our operations; the ongoing supply of material for processing from DET's current mining operations; the grade and projected recoveries of tailings processed by MVC; the ability of the Company to profitably extract and process material from the historic tailings deposit; the timing of the receipt of and retention of permits and other regulatory and governmental approvals; our costs of production and our production and productivity levels, as well as those of our competitors; changes in credit market conditions and conditions in financial markets generally; our ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; the availability of qualified employees and contractors for our operations; our ability to attract and retain skilled staff; the satisfactory negotiation of collective agreements with unionized employees; the impact of changes in foreign exchange rates and capital repatriation on our costs and results; engineering and construction timetables and capital costs for our expansion projects; costs of closure of various operations; market competition; tax benefits and tax rates; the outcome of our copper concentrate sales and treatment and refining charge negotiations; the resolution of environmental and other proceedings or disputes; the future supply of reasonably priced power; average recoveries for fresh and historic tailings; our ability to obtain, comply with and renew permits and licenses in a timely manner; and Our ongoing relations with our employees and entities with which we do production levels and cost estimates assume no adverse mining or other events significantly affecting budgeted production levels. Climate change is a global issue that could pose significant challenges affecting the Company's future operations. This could include more frequent and intense droughts followed by intense rainfall. In the last several years, Central Chile has experienced both drought conditions and significant rain episodes. The Company's operations are sensitive to water availability and the reserves required to process projected historic tailings tonnage. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond the Company's control, the Company cannot assure that it will achieve or accomplish the expectations, beliefs or projections described in the forward-looking statements. The preceding list of important factors and assumptions is not exhaustive. Other events or circumstances could cause our results to differ materially from those estimated, projected, and expressed in or implied by our forward-looking statements. You should also consider the matters discussed under Risk Factors in the Company`s Annual Information Form. The forward-looking statements contained herein speak only as of the date of this news 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
Time of India
25-07-2025
- Time of India
98% UK entry guaranteed but with forgery! How Pakistanis are tricking their way into Britain with fake £50k visa documents
A visa fraud network is being run by some Pakistani consultants who are exploiting loopholes in the UK immigration system, with one firm claiming a '98% success' rate for entry, according to a report by The Telegraph. The investigation found that forged documents, including fake CVs, employment letters, and bank statements, were being sold for up to £50,000 to secure work and student visas. These materials, riddled with basic errors, were being waved through by the UK home office, enabling illegal but technically 'legal' entry into Britain. PM Modi Sends Veiled Message To Pakistan In UK, Thanks PM Starmer For Condemning Pahalgam Attack '98% entry guaranteed!' The report revealed that a widespread visa fraud operation targeting Britain's immigration system, orchestrated by Pakistani consultants, with one guarantying entry into the UK with "98% success". "Syed Kamran Haider, the chief executive of Mirpur Visa Consultant (MVC) in the Pakistan-administered region of Kashmir, was found to be operating openly online, where he advertises loopholes in the UK asylum system, which experts described as 'easy to manipulate'," the report said. MVC was charging thousands of pounds to fabricate documents such as fake CVs and bank statements for visa applicants. These falsified materials were used to meet UK immigration criteria. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like American Investor Warren Buffett Recommends: 5 Books For Turning Your Life Around Blinkist: Warren Buffett's Reading List Undo One such forged application, including a bogus employment letter from a non-existent hospital riddled with grammatical errors, was successfully used to secure a UK work visa, it said. 'Broken system, easy to manipulate' UK-based immigration lawyer Harjap Bhangal blamed the nation's "broken system" which was "easy to manipulate". 'If you claim asylum before that visa runs out, you can still work. The Home Office is a broken institution... They are not realising where the loopholes are [and] what is being done, what migrants are doing,' The Telegraph quoted him as saying. 'These visa 'consultants' are 'selling them a dream,' he said, adding: '[They are] selling a product essentially to people who don't want to come back [home]. They have found their market. [It's] quite a sophisticated scam.' Last year, Pakistanis filed 10,542 asylum applications in the UK, the highest from any single nationality and an 80% surge from the previous year, the report said citing government data. Despite these soaring numbers, Pakistanis rarely featured among the top 10 nationalities crossing into Britain via small boats, suggesting they were entering through legal visa channels, and staying there.
The Print
03-07-2025
- General
- The Print
Indian Army celebrates Jhangar Day to commemorate sacrifice of Brigadier Usman
A wreath-laying ceremony was held at the Usman Memorial in Jhangar by the Commander of the 80th Infantry Brigade and Bal Sainik Shri Basant Singh, honouring Brig Usman and the brave soldiers who laid down their lives for the nation, officials added. Brig Usman, widely regarded as the 'Lion of Naushera', attained martyrdom in the 1947-48 operation in Rajouri's Naushera sector in Jammu and Kashmir. His leadership in the Battle of Jhangar turned the tide in defence of the region. Rajouri/Jammu, Jul 3 (PTI) The Indian Army on Thursday celebrated 'Jhangar Day' to commemorate the sacrifice made by Maha Vir Chakra (MVC) awardee Brigadier Mohammad Usman, officials said. The Usman Memorial website ( launched a digital platform offering worldwide access to the memorial, along with e-learning content, archival material and community resources and connecting people with the legacy of sacrifice and acting as a gateway to learning and civic inspiration, they said. The launch was accompanied by community outreach activities, including a medical camp, plantation drive, play events, and relief kit distribution in collaboration with Amazon India for locals affected during Operation Sindoor. The event concluded with the felicitation of war awardees and an interaction with villagers over refreshments, blending remembrance with community solidarity. PTI COR AB APL HIG This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
