Cathedral Energy Rallies After Announcing US$100 Million Acquisition Of US-Based Drilling Firm
Cathedral Energy Services Ltd. (TSX: CET) announced on Monday the agreement to acquire US-based directional drilling firm Altitude Energy Partners. The transaction is reportedly for a total cash consideration of US$100 million. The acquisition is set to be satisfied in a cash and stock deal: composed of US$62.7 million in cash and around 67.0 million shares […]
Hot Water In Hot Waters: German City Might Be Rationing Heating Soon
As Germany considers all possible scenarios should Russia decide to cut off all its gas exports to the West, the city of Hamburg could be facing possible rationing of hot water and limited heater usage–according to its environment senator. The comments come after Russia, Germany’s main source of gas, has cut down exports through the […]
Zimbabwe Answers Rising Inflation With Gold Coins
Zimbabwe will soon start selling gold coins to store value in an attempt to tame rising inflation. The country’s central bank governor John Mangudya announced on Monday that the new gold-based tender will be available on July 25 and can be bought using either local or foreign currency, including US dollars. The “Mosi-oa-tunya” coin, named […]
Emerita: Impressive First Drill Hole Results at Romanera Project
Back on the Daily Dive is David Gower, the CEO and Director of Emerita Resources (TSXV: EMO). David returns to share his thoughts on gold, the mining sector, and updates on the Romanera project and the Aznalcollar property. Emerita Resources Corp is a Canadian natural resource company engaged in the acquisition, exploration and development of […]
Dutch Farmers Block Roads, Supermarket Entrances in Protest Over New Emission Rules
Farmers in the Netherlands are staging protests over the government’s upcoming changes to environmental regulations aimed at substantially reducing pollutant emissions, sparking further fears of food shortages and inflation for the European Union. Dutch farmers have become fed up with the country’s shift towards substantially more stringent emission rules, and have blocked entrances into food […]
Saudi Arabia Is “Wildly Exaggerating” Its Oil Business – Analyst
The Kingdom of Saudi Arabia is now caught in a bind as the oil crisis is pushing importing states to demand more production from the oil-producing country. The catch, however, is that the kingdom may have been embellishing its oil-producing capacity–which could be a threat to its perceived power as an oil-rich state, according to […]
Nexo Reportedly Mulling Acquisition Of Troubled Crypto Lender Vauld
A day after halting withdrawals, trading, and deposits on its platform, Vauld is reportedly in discussions to sell out to another crypto lender. The firm has reportedly entered into a term sheet with Nexo, pending due diligence. Reported by CoinDesk earlier this morning, the transaction would see Nexo wholly acquire the crypto lender, as it […]
Dollarama To Repurchase Up To 7.5% Of Common Shares Under Renewed Share Buyback Program
Dollarama (TSX: DOL) is looking to give its share price a boost via the process of repurchasing shares. The firm this morning indicated it has received TSX approval to renew its normal course issuer bid. The program will see the company eligible to repurchase up to 18.7 million of its outstanding common shares, representing 7.5% […]
Auxly Sells Nova Scotia Facility For $6.0 Million
The trend of the sale of assets within the cannabis space amid poor market conditions plodded on today, with the announcement that Auxly Cannabis (TSX: XLY) has sold off a facility in Kentville, Nova Scotia. The facility, which previously was utilized to produce product under the firms Robinson’s brand, was shuttered in early February as […]
Alexco To Be Acquired By Hecla Mining For US$0.47 Per Share In All-Stock Deal
M&A activity continues within the Canadian resource sector, with the latest transaction occurring between Alexco Resources (TSX: AXU), and Hecla Mining (NYSE: HL). The transaction will see the largest silver producer in the US acquire one of the most promising silver properties in Canada. The transaction will see Alexco shareholders receive 0.116 shares of Hecla […]