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Enbridge (ENB-TSX); BUY, C$63.00
Companies: Enbridge Inc.
Stifel FirstEnergy
Enbridge (ENB-TSX); BUY, C$62.00
2020 Outlook
Companies: TNZ CNQ PXT TOU TVE 0KTI PD K 0P6E LUN TCN AIF ATS TCS ARE ARE CCL/B SIS SIS TXG
Enbridge (ENB-TSX); BUY, C$62.00 | Keyera (KEY-TSX); BUY, C$37.00
Companies: Enbridge Inc. (0KTI:LON)Keyera Corp. (KEY:TSE)
Enbridge (ENB-TSX); BUY, C$62.00 | Gibson Energy (GEI-TSX); BUY, C$30.00 | PrairieSky Royalty (PSK-TSX); BUY, C$17.50
Companies: 0KTI GEI PSK
Impact: Neutral, as this announcement is aligned with comments made by Enbridge within the scope of the Spectra acquisition that ~$2 bn of non-core assets will be divested; however, the announcement came sooner than expected. The Company indicated that this sale will be accretive to the Fund Group's ACFFO on a per unit basis. We believe this implies that the interest savings from lowering corporate debt by $1,075 mm is greater than the ACFFO being generated by the asset base being sold. Our 2016
ENB has announced the acquisition of Spectra Energy Corp (SE-N, not covered) for a transaction value of US$48 billion (C$61 billion). At closing, this will make ENB the largest energy infrastructure company in North America. We view the deal positively and would be buyers of the stock as we believe the strategic rationale for the transaction is strong, but that it will take a number of years for integration due to the size and scope of the transaction. We estimate that EBIT from Gas Pipelines
Impact: We believe this transformational transaction creates long-term value through the significantly increased natural gas business platform. Enbridge estimates that roughly half of its EBITDA will come from natural gas related activities if the transaction closes. The Company's long-term growth outlook for ACFFO is unchanged, the dividend growth profile has been increased and extended while diversifying the operational platform. We view all of the prior traits positively. Synergies and enhanc
The revised terms agreed with Maxit Capital should provide Solgold with the financial capacity to accelerate its exploration at Cascabel significantly. The ability to investigate the priority targets, some of which show a larger surface expression than the Alpala target which has received most of the exploratory work to date, enables Solgold to plan an exploration campaign which gives a more detailed view of the full scale of the Cascabel licence area. A maiden resource for the Alpala prospect
Adjusted EBIT was $1.1 bn and in line with both FCC’s and the Street’s estimate of $1.1 bn. As expected, throughput volumes were negatively impacted in 2Q16 by the wildfires in northeastern Alberta, which significantly curtailed production from the oil sands; as a result, EBIT was $74 mm lower than it would have been without the outages, though, still up y/y due to new projects coming on line. Enbridge has deployed $1.8 bn of its capital program so far this year, including the Tupper gas plant a
Impact: Neutral. Adjusted EPS of $0.50/share was in line with street expectations of $0.50/share (FCC $0.44/share). Enbridge showed a y/y improvement of $40 mm for adjusted EBIT. Throughput volumes and EBIT were impacted in 2Q16 by the wildfires in northeastern Alberta, which curtailed production from the oil sands. The liquids mainline system is expected to return back to anticipated throughput levels in the third quarter. Despite the unexpected interruption of oil sands production, Enbridge an
On June 30, 2016, the Canadian Federal Court of Appeal ruled that the National Energy Board (NEB)/Federal Cabinet process to review Enbridge's Northern Gateway oil pipeline from Edmonton, AB to Kitimat, BC, which originally resulted in an approval in 2014, had failed the constitutional duty to consult aboriginal groups. The approval of the pipeline has been referred back to the federal cabinet for a 'prompt redetermination'.
On May 19, 2016, the National Energy Board approved Kinder Morgan’s (KMI-N, no research coverage) proposed expansion to its Trans Mountain pipeline (TMX), with 157 conditions. If built, the pipeline would provide 590,000 b/d of additional capacity between Alberta’s oil reserves and Pacific markets from California to China. We believe that Enbridge’s Line 3 Expansion (L3R) and one additional export pipeline (possibly TMX) need to begin construction in the near term to provide adequate export capa
Enbridge reported strong earnings in the quarter, beating both our estimate and consensus.
Research Tree provides access to ongoing research coverage, media content and regulatory news on Enbridge Inc.. We currently have 2 research reports from 3 professional analysts.
NextSource is uniquely positioned to build a leading vertically integrated position, ex China, in the supply of Lithium-ion battery anode material which is essential for the Energy Transition. The company is commissioning phase 1 of its world-class Molo graphite mine in Madagascar and is in the final permitting process for its first Battery Anode Facility (BAF) to be located in Mauritius. The company is backed by Vision Blue, established by Sir Mick Davis, former CEO of Xstrata. On our calculat
Companies: NextSource Materials Inc
Capital Access Group
Falcon has raised gross proceeds of US$8.9m via a placing and subscription at a price of 6p/share and the granting of overriding royalty interests. The net proceeds, together with Falcon’s existing cash resources (cUS$4.3m) will be used to fund Falcon’s net share of 2024 capex (cUS$9m) associated with the 40MMscf/d Shenandoah South Pilot Project, including the drilling, stimulation, and flow testing of two 10,000ft horizontal wells. The funds will also enable Falcon to fund its share of the cost
Companies: Falcon Oil & Gas Ltd.
Cavendish
Beowulf is advancing a portfolio of projects in Europe focussed on metals and minerals that are critical to enabling the continent’s transition to a greener economy. Awareness of Europe’s over-reliance on external supply sources for such vital raw materials is driving growing political support for ‘home-grown’ projects. Beowulf is strategically positioned to leverage this fast-evolving trend – its Kallak project in Sweden holds potential to deliver high-quality iron ore to lower the carbon-inten
Companies: Beowulf Mining PLC
Alternative Resource Capital
Companies: FOG PHC FEN BBSN ELIX
Companies: 88E CNC FTC TRCS HEIQ CREO ZAM
• Multiple tests over multiple zones in multiple horizons were run at the Mopane-1X exploration well. The flows achieved during the well test reached the maximum allowed limits of 14 mboe/d. The flow rate was constrained by the size of the available surface facilities. • The AVO-1 horizon encountered at Mopane-1X and Mopane-2X are in the same pressure regime, suggesting that the entire area (8 km diameter) between the two wells is connected. Overall, in the Mopane complex alone, and before dril
Companies: SINTANA ENERGY
Auctus Advisors
Companies: Touchstone Exploration Inc
Shore Capital
Companies: Ferrexpo plc
Liberum
Companies: AURA OMI AAL KAV POW BMN EST SVML
SP Angel
Jubilee today reports its Q3 and third quarter operational results from its expanding operations in Zambia (copper) and South Africa (chrome and PGM). South Africa is on a growth trajectory with record chrome production of 409kt in the quarter (Q2 FY2024 381kt) and a monthly record in March of 145kt and production YTD of 1.13Mt (0.94Mt). Jubilee is well underway to its annual target capacity of 2,1Mt/yr especially with the new 300kt/yr chrome plant at Thutse expected to be operational in August
Companies: Jubilee Metals Group PLC
WHIreland
Companies: CLA STM GLN FXPO KAV GWMO CEY BHP THX EEE
Adriatic Metals has announced their transition from mining contractor to mining operator at Rupice. The transition is expected to continue to benefit the development and productivity rates being achieved at Rupice mine, as well as result in cost efficiencies and improved HSE standards. The company has also announced a short-term loan facility with Orion of $25m, that is drawable at the option of the company in Q3/4 this year.
Companies: Adriatic Metals Plc Shs Chess Deposit Interests Repr 1 Sh
Tamesis Partners
Alien today reports intraday that the Western Australian Government has granted a mining licence for the Hancock iron ore project for a 21-year term. The granting of the mining licence is the latest milestone delivered by Alien as it advances the project towards development and production.
Companies: Alien Metals Ltd
I3 has announced the sale of the majority of its royalty interests in Canada, for US$24.8m cash. This allows the company to fully repay amounts drawn on its debt facility and create a working capital surplus, giving I3 significant additional funding flexibility going forward
Companies: i3 Energy Plc
Zeus Capital
Since November, the JOG share price has moderated from a high of 250p to current levels of 149.5p. This is despite JOG having now made significant progress towards FID on its c.70mmboe Buchan project, with FID upcoming later this year. In our view this share price move is unjustified, with current levels further enhancing the value on offer, and making an attractive opportunity for investors.
Companies: Jersey Oil & Gas PLC
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