Some of the most active companies traded Thursday on the Toronto Stock Exchange:Toronto Stock Exchange (15,618.25, up 8.59 points):Titan Medical Inc. (TSX:TMD). Health care. Up 3.5 cents, or 12.07 per cent, to 32.5 cents on 19.2 million shares.Bombardier Inc. (TSX:BBD.B). Aerospace, rail equipment. Up 11 cents, or 5.24 per cent, to $2.21 on 10.6 million shares.BlackBerry Ltd. (TSX:BB). Wireless communications. Up $1.47, or 12.75 per cent, to $13.00 on 8.8 million shares. The Waterloo-based company reported second-quarter earnings of US$19 million or four cents per basic share, compared with a loss of US$372 million or 71 cents per share a year ago. Software and services revenue hit a record $185 million in the quarter. Overall revenue totalled US$238 million, down from US$334 million from the same quarter last year.Encana Corp. (TSX:ECA). Oil and gas. Down 12 cents, or 0.81 per cent, to $14.61 on 7.9 million shares.Lundin Mining Corp. (TSX:LUN). Miner. Up seven cents, or 0.82 per cent, to $8.58 on 7.5 million shares.Pembina Pipeline Corp. (TSX:PPL). Oil and gas. Up 65 cents, or 1.49 per cent, to $44.16 on 5.1 million shares.Companies reporting major news:DHX Media Ltd. (TSX:DHX.B). Entertainment. Down 97 cents, or 16.11 per cent, to $5.05 on 1.6 million shares. The Halifax-based company says its “Teletubbies” programming for pre-school children has underperformed in the U.S., contributing to disappointing financial results for fiscal 2017. However, DHX says it’s well-positioned to take advantage of exploding budgets as industry giants like Netflix, Disney and others look for family-friendly premium content for their video-on-demand services. DHX reported a net loss of $18 million for the fourth quarter as revenue was down 16.3 per cent from a year earlier, falling to $87.6 million. Revenue for the year was $298.7 million, down two per cent from fiscal 2016, while the full-year net loss of $3.6 million compared with a year-earlier profit of $27.7 million.
A 52-year-old maintenance technician was on Monday night robbed of his motorcycle, among other valuables, when he was attacked by two gunmen while making his way home.Kurt Garner of Meadowbrook Drive, Georgetown was attacked just before midnight by the two men who were reportedly armed with handguns.INews understands that Garner was pushing his motorcycle into his yard when the men approached him from behind.They reportedly held him at gunpoint and demanded that he hand over the keys to his cycle and also ordered that he hand over his valuables.The victim however, did not comply which resulted in the bandits assaulting him before pushing him into his yard to lay on the ground, where they then reportedly lashed him to his face.A round was also discharged into the air by one of the perpetrators who then took away the motorcycle keys, two cellphones and $10,000 in cash.The bandits then made good their escape East along the Meadowbrook Drive.A report was made at the East La Penitence Police Station and an investigation has since been launched. Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)RelatedMan robbed on Thomas St by armed duo who also wanted his motorcycleJuly 19, 2018In “Crime”Welfare officer robbed of motorcycle by armed duoFebruary 26, 2018In “Crime”Enmore father of 2 trailed from bank, shot, robbed by armed banditsFebruary 21, 2018In “Crime”
Peabody has signed a definitive agreement to purchase the Shoal Creek metallurgical coal mine from private coal producer Drummond Co for $400 million. Shoal Creek is located on the Black Warrior River in Central Alabama and serves Asian and European steel mills with high-vol A coking coal. The transaction involves the purchase of the mine, preparation plant and supporting assets, and excludes legacy liabilities other than reclamation. The purchase price is subject to customary working capital adjustments. Closing is expected prior to the end of 2018 and is subject to regulatory approvals, certain conditions precedent, including negotiation by Drummond of a collective bargaining agreement with the union-represented workforce, and other customary conditions.“Peabody has consistently outlined our intention to upgrade our metallurgical coal platform and make strategic investments using a strict set of filters. We believe the purchase of the well-capitalized and high-quality Shoal Creek Mine meets these filters, offers major logistical advantages and represents an opportunity to create significant value,” said Peabody President and Chief Executive Officer Glenn Kellow. “The acquisition allows us to expand volumes and margins from our met coal platform, enhances our scale, and offers complementary products to customers. We applaud the Drummond team for developing a high-quality operation, and we look forward to advancing that reputation for excellence.”Peabody believes the acquisition is consistent with the company’s previously stated investment filters: maintain financial strength; fit within the company’s strategic focus areas of the PRB, ILB, seaborne met and seaborne thermal; provide expected returns above Peabody’s weighted average cost of capital with a reasonable payback period; bring about tangible synergies; and create value for the company’s shareholders.The acquisition represents a number of strategic and financial benefits for Peabody:Upgrading Peabody’s metallurgical coal platform: Shoal Creek represents the next phase of Peabody’s initiative to upgrade its metallurgical coal platform. The mine adds approximately 2 Mt/y of high quality hard coking coal sales that are expected to expand Peabody’s met coal volumes and margins, with costs comparable to Peabody’s average met coal rangeQuality assets serving growing demand centres: Shoal Creek is strategically positioned on the Black Warrior River with direct access to barge transportation, eliminating trucking or rail requirements. The mine accesses seaborne markets through the Port of Mobile in the Gulf of Mexico serving Asia-Pacific and European steel millsAttractive valuation: The projected return exceeds Peabody’s weighted average cost of capital with an expected rapid payback periodMaintaining financial strength: Peabody intends to finance the transaction with cash on the balance sheet, putting existing assets to work to create additional value for shareholdersMultiple synergies: Peabody expects Shoal Creek to seamlessly integrate into Peabody’s operating and SG&A platforms with minimal friction costs. The acquisition represents an opportunity to accelerate usage of a portion of Peabody’s substantial net operating loss tax positionContinuing evolution of seaborne emphasis: The acquisition will further enhance Peabody’s exposure to highly attractive, growing seaborne demand centres.Shoal Creek mine was developed in 1994 and employs a workforce of approximately 400. The current mine plan accesses 17 Mt of reserves under a minimal-capital plan. Shoal Creek uses longwall mining technology to mine both the Blue Creek and Mary Lee coal seams, with low capital investment requirements. Transportation is accommodated through loading Panamax and Cape-sized vessels at the McDuffie Terminal in Mobile, Alabama with substantial available capacity.In 2017, the mine sold some 2 Mt. Shoal Creek’s mining costs per ton approximate the average cost of Peabody’s metallurgical coal platform. Shoal Creek coal typically prices at or near the high-vol A index. Peabody intends to revise its guidance targets on relevant key metrics following closing of the transaction.