Latest news with #USD8
India.com
2 days ago
- Business
- India.com
Cheapest Flight! First electric passenger plane completes 130 km journey, carried… passengers, ticket cost Rs…
Cheapest Flight! First electric passenger plane completes 130 km journey, carried… passengers, ticket cost Rs… First Electric Passenger Plane: In a major milestone in the aviation industry, first all-electric passenger plane successfully completed a flight in the United States. Beta Technologies' Alia CX300 has emerged as the first electric aircraft to complete the flight with passengers. According to a report by Fox News, the passenger plane travelled from East Hampton to John F Kennedy Airport with four passengers. all-electric Alia CX300 took off the flight without burning any fuel and covered a distance of around 70 nautical miles (130 kilometres) in just over 30 minutes. Surprisingly, the cost of the flight was USD8 (Rs 694). Cheapest Flight Just to show a drastic contrast between prices, a helicopter ride can cost over USD60 or Rs 13,000 in fuel to complete the same distance Alia CX300 did. According to the founder and CEO of Beta Technologies Kyle Clark said that there is no fuel cost involved in the flight, however, other charges such as pilot's salary and other aeroplane expenses. 'This is a 100% electric aeroplane that just flew from East Hampton to JFK with passengers on it, which was a first for the New York Port Authority and the New York area. We covered 70 odd nautical miles in 35 minutes.' 'Charging this thing up and flying out here cost us about $8 in fuel. Of course, you have to pay for the pilot and the aeroplane, but, fundamentally, it's way less expensive,' he added. Bye-Bye Noisy Engines And Propellers During the flight, passengers were able to talk to each other as there was no noise from engines and propellers. This can make electric air travel popular among the flyers, the company said. Beta Technologies Beta Technologies was established in 2017 and is office is located in Vermont. The company recently raised USD 318 million in funding for production and commercialisation of the electric plane. It is noteworthy that, the CX300 is on its way to receive Federal Aviation Administration (FAA) certification by the end this year. The CX300 electric aircraft can fly up to 463 km on a single charge, making it perfect for short flights between cities, eliminating the traffic snarls. This development is crucial as several transportation companies are looking for electric aircraft which is capable of doing round trips between cities, specially that can take off and land vertically. The main aim of developing this aircraft is to eliminate long traffic lines and to reduce emissions, saving both time of the passengers while saving reducing carbon footprints.
Time of India
12-05-2025
- Business
- Time of India
Top stocks to buy: Stock recommendations for the week starting May 12, 2025
Top stocks to buy (AI image) Stock market recommendations : According to Motilal Oswal Financial Services Ltd, the top stock picks for the week (starting May 12, 2025) are Indian Oil Corporation Ltd and M&M. Let's take a look: IOCL Indian Oil Corporation Ltd's 4QFY25 EBITDA was a 110% beat on est., driven by higher-than-estimated GRM (USD8/bbl) as well as marketing margins (INR5.9/lit). With tax rate coming in below est. , resultant PAT stood 5x above est. at INR72.6b. While the OMC rally may be nearing its end, near-term catalysts remain. 1Q earnings may benefit from lower LPG under-recoveries after recent ₹50/cylinder price hike, softer propane prices, higher Russian crude intake aiding GRMs, and steady marketing earnings. Operation Sindoor 'Our job is to hit target, not to count body bags': Air Marshal Bharti on Op Sindoor Precautionary blackout imposed across parts of Rajasthan, Punjab 'Indian Navy was in position to strike Karachi': Vice Admiral on Operation Sindoor It is well-positioned with major refinery expansions (~17.7mmtpa) scheduled for 4QFY6–1HFY27 & plans to add 3,000–4,000 new retail outlets in FY26 to its 40,000+ network. The recent drop in crude prices below $60/bbl—the lowest since Feb'21—also provides a favourable backdrop for margins. M&M M&M reported a better-than-expected performance in Q4, led by a strong margin beat in the FES segment (at 19.4% vs 17.3% est.). Revenue grew 24.5% YoY, and EBITDA margin expanded 180bp YoY to 14.9%, driven by improved ASPs across both the Auto and FES segments. Management remains confident of outperforming the UV industry in FY26, driven by new launches like Thar Roxx, XUV 3XO, and recent EVs. It plans to boost UV capacity to 69k/85K units in FY26/FY27, with a greenfield project for future requirements beyond FY28. We believe MM is well-placed to outperform across its core business, driven by healthy recovery in rural areas and new product launches across both UV and tractor segments. We estimate MM to post CAGR of 13%/13%/18% in revenue/EBITDA/PAT over FY25–27E. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Yahoo
11-02-2025
- Business
- Yahoo
Trigon Metals Announces Revised Terms for Sale of its Interest in the Kombat Mine and Private Placement
TORONTO, February 11, 2025--(BUSINESS WIRE)--Trigon Metals Inc. (TSX-V: TM, OTCQB: PNTZF) ("Trigon" or the "Company") announces that it has entered into an amended agreement (the "Agreement") with Horizon Corporation Limited ("Horizon") regarding the sale of its 80% ownership interest in the Kombat Mine in Namibia (the "Proposed Transaction"). The revised terms reflect a mutually agreed-upon adjustment to the financial structure of the Proposed Transaction while maintaining the strategic benefits for Trigon shareholders. Key Amendments to the Proposed Transaction: The principal amount of the loan from Horizon to Trigon has been reduced from USD$5,000,000 to USD$4,000,000, with structured advances over five tranches. Horizon will invest USD$500,000 in Trigon's private placement offering. An additional loan option of USD$2,000,000 has been introduced, providing flexibility for further financing prior to Trigon obtaining shareholder approval for the Proposed Transaction. The purchase consideration for Kombat Mine has been revised from USD$30,000,000 to USD$24,000,000, payable in eight equal quarterly instalments. Payments after the first instalment will be contingent on the parties having secured third-party debt financing of at least USD$10,000,000 for the Kombat Mine's development. If this third-party debt financing is not approved with 18 months of approval of the Proposed Transaction, then Horizon can elect to commence with the instalments, or to return 90% of the shares it holds in the Kombat Mine, with all capital it has contributed being converted to debt repayable by Trigon. Adjustments to payment terms related to outstanding liabilities to IXM S.A. and Sprott Private Resource Streaming and Royalty (B) Corp. ("Sprott") have been incorporated. A follow-on payment structure has been introduced, linking additional payments to the London Metal Exchange (LME) copper price and future mill expansion at Kombat Mine. Follow up payments related to the start-up of the Asis Far West expansion are as outlined in the table below: The Sprott trigger date is the date on which underground operations achieve average production of 2,250tpd for a 90 day period. LME 3-month Cu price (USD/Tonne) at the close on the LME on the date preceding the Sprott trigger date <9,000 9,000<10,000 >10,000 >15,000 * Payment to the Company on the Sprott trigger date USD5,500,000 USD8,000,000 USD13,000,000 N/A Payment to the Company on the 1st anniversary of Sprott trigger date 0 USD2,000,000 USD2,000,000 N/AD Payment to the Company on mill expansion to 1,500 tpd (expedited scenario*) 0 0 0 USD8,000,000 Payment to the Company on 1st anniversary of mill expansion to 1,500 tpd (expedited scenario*) 0 0 0 USD7,000,000 * Expedited option is not additional to other follow-on payments, nor is it subject to Sprott trigger date condition. The average LME Cu closing price for a period of 30 consecutive calendar days must be greater than USD$15,000. Strategic Rationale The revised terms of the Proposed Transaction enhance Trigon's financial flexibility while ensuring continued exposure to the Kombat Mine's upside potential. By restructuring the deal, Trigon secures near-term capital while minimizing dilution for existing shareholders. The Agreement also strengthens the Company's ability to focus on advancing its other core projects, particularly the Kalahari Copper Project and the Safi Silver spinout, while allowing Horizon to lead the next phase of development at Kombat Mine. This strategic alignment optimizes Trigon's asset portfolio and supports long-term value creation for shareholders. Jed Richardson, CEO and Executive Chairman of Trigon, commented, "The revised terms of the sale of Trigon's interest in the Kombat Mine ensure that Trigon's shareholders continue to benefit from the future success of the asset while reducing dilution and securing essential financing for our ongoing projects. We appreciate Horizon's commitment to investing in the Kombat Mine and the Namibian mining sector, and we look forward to completing the transaction." Bradley Rawson, Executive Chairman of Horizon, commented, "We remain excited about the opportunity to build on the Kombat Mine's legacy. These revisions allow us to move forward in a structured manner while ensuring that our financing plan supports the mine's development and community engagement in Namibia." Knowledge Katti, Namibian businessman and partner of Trigon Metals, commented, "This deal is not just a win for the mine and its investors—it's a transformative moment for Kombat and the communities surrounding the Kombat Mine. By prioritizing sustainable development and local employment, this partnership could create lasting opportunities for generations. The revised terms align economic growth with social responsibility, reinforcing our pride in supporting a project that strengthens both the country's mining sector and its people." The Proposed Transaction remains subject to shareholder approval, third-party approvals, and regulatory clearance, including TSX Venture Exchange approval. Further updates will be provided as the Proposed Transaction progresses. Private Placement Trigon intends to complete a non-brokered private placement of up to 6,800,000 common shares (the "Shares") at a price of $0.25 per Share for gross proceeds of up to $1,700,000 (the "Offering"). Closing of the Offering is expected to occur on or about February 20, 2025 and remains subject to a number of conditions, including receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. In connection with the Offering, a finder's fee may be payable in line with the policies of the TSX Venture Exchange. All securities issued in connection with the Offering will be subject to a statutory hold period of four-months and one-day. The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes. Trigon Metals Inc. Trigon is a publicly-traded Canadian exploration and development company with its core business focused on copper and silver holdings in mine-friendly African jurisdictions. Currently, the Company has operations in Namibia and Morocco. In Namibia, the Company holds an 80% interest in five mining licences in the Otavi Mountainlands, an area of Namibia widely recognized for its high-grade copper deposits, where the Company is focused on exploration and re-development of the previously producing Kombat Mine. Cautionary Notes The Term Sheet is non-binding and does not constitute a definitive agreement, and no assurances can be given that the Proposed Transaction will be completed as outlined. This news release may contain forward-looking statements. These statements include statements regarding the Offering, the use of proceeds of the Offering, the Proposed Transaction, the Company's ability to obtain the requisite approvals for the Offering, the economic viability of the Kombat Mine and the Company, the Company's ability to obtain adequate financing, the Company's strategies and the Company's abilities to execute such strategies, the Company's expectations for the Kombat Mine, and the Company's future plans and objectives. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws. 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. View source version on Contacts For further information, contact Tom Panoulias, VP Corporate Development: +1 (647) 276-6002 x 1127IR@ Website:
