In today’s briefing:
- MMG Limited (1208.HK) Rights Issue – 98.18% Taken Up
- Tianqi Warns of $670 Million-Plus Loss Over Lithium Price Plunge
- Alamos Gold Inc.: Expansion and Optimization of Magino Mill As A Key Growth Lever! – Major Drivers
- Balchem Corporation: What Are The Challenges Faced In Animal Nutrition & Health? – Major Drivers
- Louisiana-Pacific Corporation: Will Their Efforts Towards Optimization of Production and Operational Efficiency Improve The Bottom-Line? – Major Drivers
- Silgan Holdings Inc.: Expansion in Global Dispensing Business & Their Biggest Competitive Advantages! – Major Drivers
MMG Limited (1208.HK) Rights Issue – 98.18% Taken Up
- While there may be still be some overhang once the rights shares start trading, this is a good entry point
- Applications for 6.4 Billion excess rights shares received from 11 applications
- Rights shares will start trading on Tuesday 16th of July
Tianqi Warns of $670 Million-Plus Loss Over Lithium Price Plunge
- Chinese lithium giant Tianqi Lithium Corp. (002466.SZ -1.01%) is forecasting a net loss exceeding $670 million for the first half of the year as plummeting lithium prices hurt the bottom line of producers of this essential battery raw material.
- Tianqi said Tuesday that it anticipates a significant net loss of between 4.9 billion yuan and 5.5 billion yuan ($674 million and $756 million) for the six-month period.
- This includes a projected net loss of between 983 million yuan and 1.6 billion yuan for the second quarter, which is narrower than the 4 billion-yuan loss reported in the first quarte
Alamos Gold Inc.: Expansion and Optimization of Magino Mill As A Key Growth Lever! – Major Drivers
- Alamos Gold Inc. reported a robust first quarter of 2024, showcasing a mixture of operational excellence and strategic acquisitions that positioned the company for significant growth and enhanced value creation.
- The quarter was highlighted by a strong operational performance with a total production of 135,700 ounces of gold, surpassing the company’s quarterly guidance.
- This was primarily driven by record production from the La Yaqui Grande mine.
Balchem Corporation: What Are The Challenges Faced In Animal Nutrition & Health? – Major Drivers
- Balchem Corporation’s first quarter of 2024 displayed commendable performance with a blend of robust financial metrics and strategic corporate initiatives.
- Revenues increased by 3.1% to $240 million, indicative of heightened product demand and expanded market reach.
- This was accompanied by an impressive 11.4% growth in gross margin dollars, with a significant margin expansion to 34%.
Louisiana-Pacific Corporation: Will Their Efforts Towards Optimization of Production and Operational Efficiency Improve The Bottom-Line? – Major Drivers
- Louisiana-Pacific Corporation showcased a robust performance in the first quarter of 2024, notably driven by strong outcomes from both the Siding and OSB (Oriented Strand Board) segments.
- The company recorded sales of $724 million, marking a 24% increase year-over-year, while adjusted EBITDA surged to $182 million, up $116 million from the first quarter of 2023.
- The growth in the Siding segment was particularly notable, with a 9% increase in revenue driven by a compound effect of increased net selling prices and higher volumes.
Silgan Holdings Inc.: Expansion in Global Dispensing Business & Their Biggest Competitive Advantages! – Major Drivers
- Silgan Holdings reported their financial performance with results that lean into both the strengths and challenges faced by the company in its first quarter of 2024.
- The report demonstrated a mixture of developments across its key business segments highlighting how market dynamics and operational efficiencies intersect.
- Positively, Silgan reported strong operational execution and cost performance, which helped in achieving adjusted earnings per share at the high end of expected ranges.
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