Completion of Acquisitions, Pricing of Offerings, Charity Event, Share Repurchase, and Expansions - Analyst Notes on Agnico Eagle, Seadrill Partners, Randgold Resources, Core Lab and PPG
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NEW YORK, June 24, 2014 /PRNewswire/ --
Today, Analysts Review released its analysts' notes regarding Agnico Eagle Mines Ltd (NYSE: AEM), Seadrill Partners LLC (NYSE: SDLP), Randgold Resources Ltd. (ADR) (NASDAQ: GOLD), Core Laboratories N.V. (NYSE: CLB) and PPG Industries, Inc. (NYSE: PPG). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/4039-100free.
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Agnico Eagle Mines Ltd Analyst Notes
On June 16, 2014, Agnico Eagle Mines Ltd (Agnico Eagle) and Yamana Gold Inc. (Yamana) jointly announced the completion of their previously announced court-approved plan of arrangement, pursuant to which both the Companies have jointly acquired 100% of the issued and outstanding common shares of Osisko Mining Corporation (Osisko). Agnico Eagle stated that under the terms of the agreement, each outstanding common share of Osisko was exchanged for - CAD2.09 in cash; 0.07264 of an Agnico Eagle common share; 0.26471 of a Yamana common share; and 0.1 of one common share of Osisko Gold Royalties Ltd. According to the Company, the following assets of Osisko were transferred to Osisko Gold Royalties Ltd, pursuant to the arrangement - a) 5% net smelter royalty (NSR) on the Canadian Malartic mine, b) CAD157 million cash, c) a 2% NSR on the Kirkland Lake assets, the Hammond Reef project, and some other properties as well as d) all assets and liabilities of Osisko in its Guerrero camp, and e) certain other investments and assets. The full analyst notes on Agnico Eagle are available to download free of charge at:
http://www.analystsreview.com/Jun-24-2014/AEM/report.pdf
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Seadrill Partners LLC Analyst Notes
On June 19, 2014, Seadrill Partners LLC (Seadrill Partners) announced the pricing of its public offering of 6.1 million common units, representing limited liability company interests, for total estimated gross proceeds of c.$200 million. Seadrill Partners added that Seadrill Limited has agreed to purchase $100 million of common units directly from the Company in a private placement at the price at which the common units will be sold to the underwriters, such private placement to close with the public offering of common units. The Company informed that the net proceeds from the public offering and the concurrent private placement are to be used for general company purposes, which may include acquisitions, repayment of indebtness, and working capital purposes. The full analyst notes on Seadrill Partners are available to download free of charge at:
http://www.analystsreview.com/Jun-24-2014/SDLP/report.pdf
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Randgold Resources Ltd. (ADR) Analyst Notes
On June 19, 2014, Randgold Resources Ltd (Randgold) reported the arrival of its Chief Executive, Mark Bristow and his 3boyzonbikes team in Kinshasa for a 10,000-kilometer four-week charity motorbike ride event from Abidjan to Cape Town. According to the Company, the purpose of the ride is to raise money for Nos Vies en Partage, a charitable foundation established by Randgold which aims to support humanitarian efforts in Africa, particularly for those who have been left behind by society such orphans and abused women. Bristow said, "Riding a motorbike through Africa is very different to flying over it. You get up close to the ordinary people in towns and villages and, as a motorbike provides no insulation against your environment, you can see the need for a helping hand to deprived communities very vividly. This is particularly true for the many orphanages we have visited during the course of our trip and it was incredibly humbling to see firsthand the sacrifices being made for the children under their care and how much they can do with so little." The full analyst notes on Randgold Resources are available to download free of charge at:
http://www.analystsreview.com/Jun-24-2014/GOLD/report.pdf
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Core Laboratories N.V. Analyst Notes
On June 19, 2014, Core Laboratories N.V. announced that it has repurchased a total of 5,750 of its common shares from Wednesday, June 11, 2014, through Thursday, June 19, 2014, at an average price of $159.63 per share, as part of the Company's existing share repurchase program. The full analyst notes on Core Lab are available to download free of charge at:
http://www.analystsreview.com/Jun-24-2014/CLB/report.pdf
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PPG Industries, Inc. Analyst Notes
On June 17, 2014, PPG Industries, Inc. (PPG) announced that it has invested about $40 million in its coatings manufacturing facility in Sumare, Sao Paolo, Brazil. According to the Company, the expansion project aims for a 65,000-square-foot plant for onsite resin production, and the resin will be used to produce PPG's electrocoat products to address the demands for automotive original equipment manufacturers (EOMs) and industrial coatings customers in the region. The Company expects the project to be completed in 2015 and plans to add over 30 new positions at the facility. Cynthia Niekamp, PPG's Senior Vice President, Automotive Coatings said, "The expansion of the Sumare facility enables PPG to localize production and demonstrates our long-term commitment to support our customers in this very important region." The full analyst notes on PPG are available to download free of charge at:
http://www.analystsreview.com/Jun-24-2014/PPG/report.pdf
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