HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"
NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)
Message: Brookfield-Hatch-Alg...
IT's great that Noront is partnered with Hatch.
"Noront Resources (Noront) has announced that it has entered into a Master Services Agreement with Hatch to perform engineering and project support services for the Eagle’s Nest and Ring of Fire chrome projects. As part of this unique collaboration, Hatch will participate as an equity partner with Noront and form an integrated project management and engineering team to manage the development and execution of projects in the Ring of Fire. "
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And Speaking of Hatch....Brookfield likes folks from Hatch.
Brookfield recapitalized North American Palladium and acquired control of the company in 2015
Brookfield installed Jim Gallagher as its CEO
From the start of Gallagher’s tenure to now, the stock has risen from $4.20 a share to $18.90 a share.
https://canada.businesschief.com/North-American-Palladium/executives/Jim-Gallagher/127
Executive Bio
COO of North American Palladium.
Mr. Gallagher is a seasoned mining executive with over 30 years of experience in a series of roles spanning operations, projects, engineering, technology and consulting. For the last seven years, Mr. Gallagher served as Global Director of Mining at Hatch Ltd., with a mandate to build the firm’s global underground capability, where he led the firm’s global mining group involved in transitioning projects to normal operations. Prior to Hatch, the foundational part of his experience came from his 24-year career at Falconbridge in a variety of operations and project management roles, most of which were based in Northern Ontario. Mr. Gallagher also has a track record for identifying improvement opportunities and building out technical capabilities. Mr. Gallagher holds a Bachelor of Mining Engineering degree from Laurentian University in Canada.
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The below was super interesting...
Why on earth would Brookfield sell out their portion of this company for almost 20% less than its current valuation on the TSX????The minority shareholders got $19.74???
With palladium rising to record highs, a $1-billion deal for a darling of the Canadian exchange
Impala Platinum Holdings struck an agreement to pay Brookfield Business Partners $570 million for its 81% stake in North American Palladium
North American Palladium shaft opening in Thunder Bay.Thunder Bay Community Economic Development Commission (CEDC)
October 7, 2019
5:47 PM EDT
Toronto-based North American Palladium on Monday presented shareholders with a $1 billion buyout proposal from a larger South African rival just as its namesake metal touches record high prices.
Under the deal, Johannesburg-based Impala Platinum Holdings Ltd. struck an agreement to pay the private equity firm Brookfield Business Partners $570 million for its 81 per cent stake in the company, or $16 per share.
Meanwhile, it is offering $19.74 per share to minority shareholders, which the company called a 15 per cent premium on the 30-day weighted average price, but was exactly the price the stock closed at on Friday.
North American Palladium’s main asset is an underground palladium mine in northwestern Ontario and it has been riding a wave of investor excitement around the metal, which is used in catalytic convertors to control vehicle emissions. Even as global auto sales slide, a perceived shift toward tighter emission standards helped palladium prices reach a record US$1,600 per ounce in September — even more expensive than gold.
“There is a fundamental shift in emission standards and emission testing around the world,” Jim Gallagher, chief executive of North American Palladium said last month in a presentation at the Denver Gold Forum. “And it’s creating a step change in consumption of Palladium for catalytic converters.”
He estimated auto sales in China dropped by as much as 10 per cent, but said some automobiles now use 30 per cent more palladium in their catalytic converters to meet new emissions testing standards. The changes have made platinum, once considered a substitute, less viable, Gallagher said.
The upbeat tone of his talk provided a marked change from the past decade when he often talked about “turnaround” plans — its net income only turned positive in 2017 when it posted $36 million for the year.
Through the first half of 2019, the company had $91 million in free cash flows and attracted attention with aggressive returns to shareholders: In March, it introduced a three cent quarterly dividend, which in June was increased to 14 cents and later a special 35 cent dividend was added.
“When I got on the plane here in Toronto, as we’re coming down here, I met an acquaintance of mine CEO of a gold mine and asked me Jimmy, what the hell are you doing going to a gold conference?” Gallagher recounted at the Denver Gold Forum in September. “I said, we’re going to try and teach the gold miners how to give money back to shareholders.”
According to the stock exchange operator TMX Group Ltd, the company ranked 18th on the TSX in its dividend-adjusted share price appreciation during the past three years, rising from $4.80 in 2016 to $17.80 as of Oct. 1.
The share price was up a single cent to close at $19.74 on Monday.
David Stewart, an analyst at GMP Securities, wrote that the company was being acquired at a “steep discount” but it is likely a done deal given that Brookfield owns 81 per cent of the stock and only two-thirds of shareholders must approve the purchase.
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Brookfield is quite the "helper" to Essar Algoma.
We owe Brookfield a big thank you for their 20% discount allowed for the sale of the "other" Palladium player in Ontario. Makes Noront kind of a lone wolf.
You can add this post ...From the past ..
https://agoracom.com/ir/Noront/forums/discussion/topics/728202-brookfield
Brookfield is making a pattern here.
graphite electrodes, power plant bought by essar algoma, and yesterday this rail purchase...
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announced yesterday was Brookfield's purchase of Genesee & Wyoming Inc for 8.4 billion
Will they now save Huron Central Rail which is very important to Essar Steel Algoma?
https://www.bnnbloomberg.ca/brookfield-buys-rail-operator-genesee-for-8-4-billion-1.1281014
An affiliate of Brookfield Asset Management Inc. agreed to buy Genesee & Wyoming Inc. for US$8.4 billion including debt to expand its global portfolio of rail companies with a 120-line network spanning North America, Europe and Australia.
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The Huron Central’s Montreal-based parent company, Genesee & Wyoming Canada, imposed a Nov. 1 deadline to pull service on the 278-kilometre Sault Ste. Marie-to-Sudbury line.
Freight service still continued past the deadline, Romano said, since the fundamentals of the one-year agreement were already in place, just not finalized until recently.
The funding is only a fraction of the $43.2 million that the railway said it needs from the federal and provincial governments for track maintenance and government-mandated safety upgrades at level crossings.
The company’s application to the National Trade and Corridors Fund was rejected by Transport Canada last spring because matching provincial dollars were not in place, first.
The Huron Central employs 44 in the Sault and Sudbury but supports thousands of industrial manufacturing jobs in hauling steel, forest products and chemicals for Algoma Steel in Sault Ste. Marie, Domtar in Espanola, and EACOM in Nairn Centre.
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Brookfield swallowed up Graftech(maker of Graphite electrodes) in 2015 and did an IPO last year.
In recent months an unexpected crisis has erupted for steel making. Graphite electrodes are in short supply, and without them some steel makers cannot continue production. Few people have heard of graphite electrodes; that is because they are one of those parts you assume will always be readily available. Now there is a disruption, and steel buyers will face price increase. Worse still, buyers might face the looming possibility of steel shortages, shutting down manufacturing lines or construction projects.
Why are graphite electrodes important for steel? They are literally essential in one type of steelmaking, electric arc furnace, or EAF. Globally just over 25% of steel is made in electric arc furnaces. In the United States 67% of steel is created using the EAF method, and in some other major markets like Italy it is over 75%. Even blast furnaces make use of electrodes during the refining process. Stainless steel uses electrodes faster than regular carbon steel. Stainless steel is generally more processed and higher specification than carbon steel. This extra value requires extra refining.
Outokumpu imposed a surcharge back in 2017
"Outokumpu introduces a graphite electrode upcharge for all stainless steel products with immediate effect. The tight supply situation within the graphite electrodes market has led to limited global availability of graphite electrodes and sharp increases in their prices. This has in turn led to significant increase in the production costs of stainless steel."
https://www.outokumpu.com/en/news/2017/outokumpu-takes-graphite-electrode-upcharge-in-use
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power plant.. from last year....
Brookfield sold their Co-gen power plant to Essar algoma
https://www.sootoday.com/local-news/co-generation-plant-is-back-online-1004337
Former Brookfield Renewable Power co-generation plant was acquired by Algoma four months ago. supplied
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