Auxly Cannabis Sees Revenue Grow 21% Sequentially, Losses Narrow
Despite continued growth in topline revenue, positive net income continues to evade Auxly Cannabis (TSX: XLY). The firm this morning posted its second quarter financing results, indicated that its revenue had climbed a substantial 20.8% on a sequential basis. Revenues for the second quarter came in at $27.3 million, an improvement over the $22.6 million […]
Galaxy Digital Walks From Billion Dollar Purchase Of BitGo Over Financial Statements
A major transaction in the crypto space has been called off as a result of audited financial statements not being presented. Galaxy Digital (TSX: GLXY) this morning indicated that it will no longer be proceeding with acquiring BitGo, a crypto custodian, following the firms inability to provide audited financial statements by the deadline of July […]
Nevada Copper Posts US$5.0 Million In Revenue, US$3.9 Million In Cash Balance In Q2 2022
Nevada Copper Corp. (TSX: NCU) announced its financial results for the second quarter ended June 30, 2022. The mining firm recorded a revenue of US$5.0 million, up from Q2 2021’s US$2.1 million. But with production costs higher than the revenue, the firm ended with a gross loss of US$11.9 million, wider than last year’s loss […]
Senator Sinema Forces Market-Unfriendly Tax Provision On Stock Buybacks To Be Added To Inflation Reduction Act
A frequently used quote in politics, “Laws are like sausages, it is better not to see them being made,” comes to mind as U.S. Senate Democrats tried to appease — now successfully — Arizona conservative Democrat Kyrsten Sinema to gain her critical 50th vote for their key climate and health care package, that is for some […]
Argentina’s Central Bank Hikes Rates by 950 Basis Points as Inflation Spirals Out of Control
Argentina’s central bank urgently raised borrowing costs by a staggering 950 basis points this week, in face of 20 year-high inflation that continues to spiral out of control. The Central Bank of Argentina hiked its benchmark interest rate for the 28-day term from 60% to 69.5% on Thursday, merely two weeks after delivering an 800 […]
Trillion Energy: Increasing Offshore Gas Production In Turkey
Trillion Energy International Inc. (CSE: TCF) is a Canadian oil and gas exploration company with assets in Turkey and Bulgaria. The company’s flagship project is its 49%-owned South Akçakoca Sub-Basin (SASB) offshore natural gas field in the Black Sea off the Turkish coast.. Trillion has been actively operating in Turkey over the past 20 years […]
Argonaut Gold: BMO Drops Target To $1.00 After Messy Q2 Results
On August 10, Argonaut Gold (TSX: AR) reported its second quarter financial results. The company announced revenues of $111.4 million, down 7% yearly, while gross profits dropped 50% to $19.8 million. Net income came in at $18.4 million, down 16% yearly. The company announced that it produced 59,192 gold equivalent ounces, down from the 63,750 […]
India Using Asian Currencies Instead of Dollar to Buy Russia’s Coal
The West’s campaign in choking Russia’s economy from the rest of the world appears to be backfiring. In fact, Washington’s myopic efforts are so poorly thought out, that the sanction sandwich it imposed against Moscow is slowly eroding away at the US dollar’s global dominance. With western nations and the EU now shunning Russian commodities […]
Kinetik Holdings Raises EBITDA Guidance; Unique Energy, High Dividend Yield Story
Kinetik Holdings Inc. (NASDAQ: KNTK) earlier this week reported solid 2Q 2022 results, including US$127 million of free cash flow generated in the quarter, and boosted its full-year 2022 pro forma adjusted EBITDA projection to US$820-US$840 million from US$770-US$810 million. Kinetik is an energy company which owns minority stakes in four natural gas, natural gas liquids […]
Xebec Adsorption: BMO Cuts Price Target To Just $0.85 After Poor Q2 Margins
Xebec Adsorption (TSX: XBC) yesterday announced its second quarter financial results. The company announced revenues of $44.5 million, up from $40.33 million last quarter, while gross margins came in at $1.8 million, or just a 4% margin, compared to a 15% margin a year ago. The company also reported wider adjusted EBITDA and net losses […]