International Wastewater Systems (IWS:CSE) Announces Australian Project
IWS Announces Australian Project
– Momentum Public Relations – March 16, 2016
International Wastewater Systems Inc. (“IWS” or the “Company”) (IWS:CSE)(FRANKFURT:IWI) is pleased to announce its inaugural project in Australasia, a SHARC wastewater heat recovery system (“SHARC”) to be installed at a facility operated by the Australian Wool Testing Authority (“AWTA”) in Melbourne.
AWTA is the largest wool testing organization in the world and utilizes significant amounts of hot water at its testing facilities. Once testing is complete, thousands of liters of hot water are diverted to cooling tanks before being sent to the sewer system.
The SHARC will intercept the water being discarded from AWTA tests, capture the heat and then transfer the heat back into the boiler system. This will offset a significant amount of natural gas currently being used by ATWA’s boilers. The SHARC system at the ATWA facility is expected to produce approximately 680 kW/h of heat, reducing ATWA’s energy costs by up to 80{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} for the same application and reducing carbon emissions by approximately 600,000 kilograms annually.
The SHARC installation for ATWA is being led by Environmental Technology Solutions of Australia, a leading provider of energy efficiency and sustainability solutions with offices in Canberra and Melbourne. The SHARC is expected to be installed during the second quarter of 2016 with a value of approximately CDN $300,000.
This will be the third installation of IWS technology at an industrial facility following installations at the Sechelt Water Resource Centre in Canada and the Camden County Wastewater Treatment Plant in the United States.
ON BEHALF OF THE BOARD
Lynn Mueller, Chairman and Chief Executive Officer
About International Wastewater Systems Inc.
International Wastewater Systems Inc. (IWS:CSE)(FRANKFURT:IWI) is a world leader in wastewater heat recovery. IWS systems recycle thermal energy from wastewater, generating the most energy efficient and economical systems for heating, cooling & hot water for commercial, residential and industrial buildings.
- Published in Green Technology, International Wastewater Systems, News Home, Technology
A Giant is Brought Down
Pharma Giant Valeant has been Brought Down
– Momentum Public Relations –
Shareholders in Valeant Pharmaceuticals (VRX) have undoubtedly had a rough year. Unfortunately, the struggling drug maker shows no signs of improvement. After losing nearly half the stock’s value in the last week, the company’s downward spiral continues.
By the close of the day on March 14, Valeant was valued at $23.6 billion. This is a dramatic drop from its value of $89.6 billion during its peak trading price in mid-August. March 15 share prices closed at $40.20, the same level as March 15, 2011. Shares had been consistently above $50 since 2012, with a high of $263.70 in August 2015.
Valeant’s biggest shareholders are feeling the pain of the company’s struggles. Pershing Square is left with about $800 million in losses from this week alone. ValueAct is down roughly $390 million.
Several factors are affecting Valeant’s stock price.
• Excessive Debt: The company is heavily in debt due a lengthy acquisitions binge, carrying over $30 billion in net debt and levered with a debt-to-equity ratio of nearly 5-to-1. They’re also at risk of defaulting on certain debts, due to a failure to file their 10-K for 2015 within the 15-day extension window required by regulators.
• Weak Growth: Multiple analysts believe Valeant’s emphasis on serial acquisitions has been camouflaging week growth. Unaudited fourth-quarter earnings were well below expectations and several drugs in the company’s portfolio aren’t living up to the company’s promises to investors. For example, a drug that claims to boost a woman’s libido, Addyi, is unlikely to hit the sales of $100 million to $115 million that the company had previously stated. Lower growth across the board is expected in Valeant’s US dermatology, gastrointestinal, and women’s health portfolios.
• Legal Trouble: Valeant’s pricing strategies have been widely criticized, leading to investigations from the US Attorney’s Office for the District of Massachusetts, the US Attorney for the Southern District of New York, and the US House Oversight Committee. Valeant is under investigation by the SEC in regards to its previous relationship with drug distributor Philidor Rx Services LLC. The Federal Trade Commission is investigating the company’s growing control of the production of rigid gas permeable contact lenses following the acquisition of Paragon Vision Service and a series of unilateral price increases in 2015.
• Employee Retention: Valeant paid out employee bonuses last week, but insiders say employee retention is a concern. The company is an exceptionally challenging place to work for, but savvy investors know Valeant can’t recover without a team of capable leaders.
Also adding to the company’s troubles was the lengthy absence of CEO Mike Pearson, who was on medical leave from last December to the first of March due to a severe case of pneumonia. Howard B. Schiller served as Valeant’s interim chief executive officer, but having the company’s leader missing in action during a time of crisis shook investor confidence. Troubles were compounded when the company was less than forthcoming about the seriousness of Pearson’s condition.
There have been rumors circulating that Valeant’s board has considered firing Pearson, but decided to keep him on to avoid paying out a $200 million severance package. Pearson insists that’s not the case, stating he’d only be entitled to a modest payment for vested stock if the board decided to replace him.
Since his return, Pearson has pledged to focus on “improving Valeant’s reporting procedures, internal controls and transparency.” However, it remains to be seen if Pearson is a strong enough leader to save Valeant from the brink of destruction.
Based in Laval, Quebec, Valeant’s subsidiaries include Bausch & Lomb, Salix Pharmaceuticals, Medicis Pharmaceutical, Solta Medical, Dendreon, OraPharma, and Obagi. Before last year’s regulatory troubles began, the company was considered to be the poster-child for the lucrative model of high-profile takeovers in the pharmaceutical industry.
Update on the Oil Crisis in Canada and Abroad
Update on the Oil Crisis in Canada and Abroad
– Momentum Public Relations –
According to financial prognosticators the recession that recently hit Canada will continue to affect Canadians; particularly those who live in Calgary and Edmonton. For instance, according to the Conference Board of Canada, Edmonton’s economy will contract by an additional 1.3{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} in 2016, while Calgary’s economy is expected to shrink by an additional 1.2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} this year. The continual decline in the two cities economies can be attributed to the decline in the price of oil, and the impact of the steep drop has trickled into other sectors of the economy as well.
Furthermore, job loss numbers are also expected to increase in 2016, as Calgary will suffer from an additional 2.1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} loss in employment growth, bringing the overall unemployment rate to 7.5{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} this year. Alarmingly, the 7.5{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} unemployment rate is actually higher than the national average, a figure that Calgary has not hit since 1987. Moreover, the sectors that are expected to get hit the hardest by the steep decline in oil prices are the trade and construction industries respectively.
Residents of Edmonton will also not fare that much better, as unemployment rates are expected to hit 7{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} this year; an almost 2 decade high. It should also be noted that the real estate market will also take a subsequent hit from the massive layoffs, as the excess of office space created by all the layoffs will discourage investments in non-residential construction as well as office buildings. De facto, pundits expect a 33{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} drop in housing starts in Edmonton in 2016, while Calgary can expect a housing start drop of 18{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} this year.
What’s more, on March 3rd, 2016, Canadian National Resources Ltd reported an 89{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} drop in quarterly profit ($131 million), due mainly to the steep decline in oil prices. Canadian National Resource Ltd is Canada’s second largest gas and oil producer, and the enterprise is currently projecting capital expenditures ranging from 3.5 to 3.9 billion dollars, in stark comparison to the 4.5 to 5 billion dollar range that they projected in 2015. Annual production values of oil are also expected to drop by 2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} this year in comparison to last year, and the Calgary/Alberta based entity’s share prices dropped to 12 cents per share in Q4 2015, compared to $1.09 per share during the same period in 2014. In sum, Canadian National Resources Ltd reported that revenues fell by 36{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} to 2.79 billion dollars.
Moving beyond the dire economic situation currently facing Edmonton and Calgary, airplane manufacturing is also expected to take a severe hit from declining oil prices. For instance, airplane retirements for Boeing and Airbus fell to only 28 in Q1 of 2016, compared to 104 in Q1 of 2015. In other words, the decline in oil prices has led to a reduction in demand for more energy efficient aircrafts, because they are currently not seen as a priority from a cost perspective.
Globally, the latest numbers indicate that over one million barrels are being oversupplied every day. That is, the oversupply is being caused by the fact that there are insufficient storage areas to store oil. In fact, the situation has become so dire that some experts are suggesting that pumped oil be stored in swimming pools due to insufficient storage spaces. In addition, oil tankers are also being sent on longer voyages to help reduce tanker pile up debacles at junction ports, as 50 oil tankers are currently remaining stationary in the port of Rotterdam, which is the highest figure being reported since 2009. A similar situation is currently taking place in the United States’ largest oil hub, which is based in Cushing, Oklahoma.
The marked drop in crude oil prices has also forced ExxonMobil to cut its capital spending to only 23 billion this year; a 25{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} drop from the previous year. Russia has also been hit hard by the oil crisis, as the country is currently trying to recover from its own recession. In fact, automotive sales dropped by 36{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} last year, and massive layoffs in plants like the Avtovaz plant in Tolyatti have forced many workers to leave their homes and move in with their parents to make ends meet.
Unfortunately, the global oil crisis is expected to get worse in the future, as many experts believe that the increase in the adoption rates of electric cars will further reduce the demand for gas guzzling vehicles. To learn more about how electric cars can exacerbate the oil crisis please visit here.
- Published in Blog, Business, Energy, Oil and Gas
Trudeau and Obama Strengthen Relationship
Prime Minister Trudeau and President Obama
– Momentum Public Relations –
In the first official visit for a Canadian Prime Minister in 19 years, Prime Minister Justin Trudeau visited US President Barack Obama last week as part of an effort to strengthen ties between the two countries. Environment Minister Catherine McKenna, Fisheries Minister Hunter Tootoo, Defence Minister Harjit Sajjan, Foreign Affairs Minister Stephane Dion, and International Trade Minister Chrystia Freeland, also traveled with Trudeau to meet their Washington counterparts.
When Trudeau arrived in the US, members of the press compared his progressive politics and themes of hope and change to Obama’s 2008 campaign. Obama himself said Trudeau’s time in office would bring “new energy and dynamism not only to Canada but to the relationship between our nations.”
Trudeau showed his appreciation for the First Family with a series of thoughtful gifts. Mr. Obama received an aboriginal statue, Mrs. Obama received a beaded cape, their daughters Sasha and Malia received scarves from an Ottawa designer, and their pet dogs Bo and Sunny received Canadian-made dog boots called “Muttluks.” He also expressed admiration for the President’s accomplishments, stressing that he hoped to learn valuable lessons from Obama’s two terms in office. “He’s somebody with a big heart, but also a big brain. And for me to be able to count on a friend who has lived through many of the things that I’m about to encounter on the political stage, on the international stage, it’s a great comfort to me,” Trudeau said.
Topics discussed during Trudeau’s visit highlighted many of the similarities between the counties.
- Canada is the United States’ largest trading partner and sends over $2 billion of goods and services across the border on a daily basis. As such, both countries have a vested interest in taking steps to liberalize trade and reduce bottlenecks at the border.
- Trudeau and Obama will make it easier to travel between Canada and the United States by setting up customs pre-clearance checkpoints in additional locations. The amount of time it currently takes to go between countries has long been a source of irritation for citizens of both the US and Canada.
- As neighboring Arctic nations, Canada and the United States have agreed to fight climate change by reducing methane emissions reductions by 40-45{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} from 2012 levels by 2025.
- Trudeau and Obama have agreed to fight terrorism and enhance security by sharing more information about each country’s no-fly list, while creating a working group to resolve identity errors on the lists.
Although the talks highlighted many areas of agreement between the two countries, there were some notable differences.
- When discussing the plight of Syrian refugees, Trudeau referred to the 25,000 refugees who had arrived in Canada in the past four months as a “source of strength” for the nation. In comparison, over half of governors in the US are opposed to welcoming refugees into their states.
- The decades old softwood lumber dispute, in which the US believes Canada unfairly subsidized its lumber industry, was promised to be resolved soon — despite both Trudeau and Obama stating that neither side would be likely to get everything they wanted in the final deal.
- The US opposition to the Keystone XL Pipeline on environmental grounds has long been a chilly spot in US-Canada relations, although both Obama and Trudeau expressed interested in working towards “environmental harmony” moving forward.
Trudeau’s visit to the US concluded with a formal State Dinner at the White House. The event was attended by about 200 guests, including Canadian stars such as actors Michael J. Fox, Mike Myers, and Ryan Reynolds. The menu for the black tie affair highlighted American culinary traditions but paid tribute to Canada’s most popular cuisine with poutine, Nanaimo bars, and white chocolate snowballs. Entertainment was provided by the American Youth Philharmonic Orchestra, the Washington Performing Arts Children of the Gospel Choir, and American singer Sara Bareilles.
At the conclusion of his visit, Trudeau told reporters that he’d invited Obama to address Canada’s Parliament later in the year. It’s possible that this visit could coincide with the North American Leaders Summit Canada will host this summer.
- Published in Blog
Target Price for Sirona Biochem (SBM:tsxv) 0.98$
Sirona Biochem (SBM:tsxv) Gets BUY Rating : Target Price CAD 0.98$
– Momentum Public Relations –
Yesterday, First Berlin Equity Research published a research update on Sirona Biochem Corp. (SBM:tsxv). Analyst Ellis Acklin reiterated his BUY rating and increased the price target from CAD 0.90 to CAD 0.98.
This is an abbreviated summary. The full text of this story (including disclosure) is included below.
Abstract:
Sirona Biochem Corp. (Sirona) published annual results for the year ended 31 October 2015. Results were largely in line with our forecasts. The company continues to communicate confidence in the signing of a new agreement for its promising skin lightening treatment TFC-1067. We see this as a potential watershed event for the company. Potential upfront, milestone and royalty payments harbour significant upside for Sirona once a deal is sealed. After recalibrating our forecasts and model, we raise our price target to C$0.98 (previously: C$0.90) and reiterate our Buy rating.
Financial Forecasts: |
2013 |
2014 |
2015 |
2016E |
2017E |
2018E |
Revenue (CADm) |
0.00 |
0.21 |
0.01 |
0.38 |
8.79 |
21.45 |
EBIT (CADm) |
-2.64 |
-3.48 |
-3.48 |
-3.20 |
5.13 |
17.69 |
EPS (diluted) (CAD) |
-0.03 |
-0.03 |
-0.03 |
-0.01 |
0.02 |
0.07 |
FCF (CADm) |
-2.62 |
-2.09 |
-3.18 |
-2.88 |
2.76 |
10.88 |
http://www.slideshare.net/MomentumPR/first-berlin-equity-research-sbmtsxv
- Published in Blog, Life Sciences, Sirona Biochem
A Big year for the Annual PDAC Convention in Toronto
A Big Year for the Annual PDAC Convention in Toronto
– Momentum Public Relations – Stephanie Boucher
Today marked the last day of the PDAC Convention 2016. The four-day international event is the world’s leading convention for people, companies and organizations in mineral exploration. Hosted yearly in Toronto, the convention brings together 1,000 exhibitors and over 23,000 attendees from around the world. In addition to the conference, attendees could also take part in an exciting lineup or programs, including short courses, technical sessions, corporate presentations, investor exchange, a trade show and social networking events.
Because of its size, the convention is the place where players in the mining industry come to do business, find jobs or investment opportunities. The internationally renown event attracts executives, government officials, prospectors, analysts, investors and brokers from all over the world, with attendees from the United States, Australia, Peru, Mexico, Argentina, Chile and South Africa, to name a few, which represents more countries in attendance than at the 2015 Toronto Pan Am Games and the 2010 Vancouver Olympics. “It is an iconic event for the city of Toronto that provides huge tourism opportunities and injects upwards of $60 million each year into the local economy,” said Rod Thomas, president of PDAC.
This represents such an important event for the city that the Toronto Stock Exchange and the TSX Venture Exchange opened and closed the markets from the floor of the PDAC Convention. Delegations from around the world were invited to open and close the market every day. Other notable highlights included a De Beers Canadian diamond display and the Royal Canadian Mint celebrating their 100-year anniversary by introducing new proprietary anti-counterfeiting technology. Visually stunning-minerals from the Kirwin Collection from the Royal Ontario Museum were also displayed at the convention’s trade show, open to the public.
The yearly event also serves as a meeting place for experts within the industry. “It’s a huge networking opportunity,” said Rod Thomas, president of PDAC. “It’s the one time of year when people in the industry can count on seeing all their colleagues from around the world, face to face, and a lot of deals get done as a result.”
This year, the convention had reasons to celebrate. Unlike in previous years, the metal market prices are no longer falling, and share values in many sectors have been climbing since January. Even the junior gold market is showing strength amid some market turmoil. After years of industry decline, there was a sense of optimism at the PDAC Convention, which moves in tandem with industry trends. “We’ve started to see a little light at the end of the tunnel. There’s optimism there, and I haven’t felt that for the past three years,” added Thomas.
About PDAC
Established in 1932 in response to proposed government regulation, the Prospectors and Developers Association of Canada (PDAC) represents the Canadian mineral exploration and development Industry. Today, the national organization has over 7,000 individual members and over 1,000 corporate members. The PDAC strives to promote a responsible, vibrant and sustainable Canadian mineral exploration and development sector. They encourage leading practices in technical, environmental, safety and social performance in Canada and internationally. During the convention, PDAC elected eight new members to its board of directors.
Equitas Signs Definitive Agreement with Gold Producer
Equitas Resources Corp. Completes Due Diligence and Signs Definitive Agreement to Acquire Alta Floresta Gold Ltd.
– Momentum Public Relations – March 7, 2016
Equitas Resources Corp. (TSXv: EQT) (FSE: T6UN) (USA: EQTRF) (“Equitas” or the “Company”) is pleased to announce it has signed a definitive agreement to acquire a 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} interest in Alta Floresta Gold Ltd. (“Alta Floresta Gold”). Upon regulatory approval of the acquisition, Equitas plans to construct a gravity plant to expand the current production activities at the Cajueiro gold zones.
Alta Floresta Gold Ltd. is a private company which holds a 60{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} equity interest in Alta Floresta Mineracao Ltd. (“Alta Floresta Mineracao”). Alta Floresta Mineracao holds six gold properties, and four production licences, over 184,410 hectares of land in the Mato Grosso and Para states of Brazil. Alta Floresta Mineracao is focused on production activities and defining additional gold resources at the Cajueiro Project.
About Equitas Resources Corp.
Equitas Resources is a Canadian-based mineral exploration company with a focus on nickel, copper, platinum group metals (PGM) and cobalt. The Company’s Garland Property is 23,386 hectares and located in the Voisey’s Bay district of Labrador, Canada. Upon approval of the definitive agreement Equitas will become a Canadian-based mineral production, development and exploration company.
For more information on Equitas Resources please visit our website at: www.equitasresources.com.
- Published in Equitas Resources, Mining, News Home
Kevin O’Leary says Canadian Stocks are a Good Buy
Kevin O’Leary Shows His Patriotism by Advocating Investment in Canadian Stocks
– Momentum Public Relations –
Kevin O’Leary, co-founder and chairman of O’Leary Funds, is one of Canada’s most respected investors and financial commentators. He came from humble middle class beginnings, but built a company which he sold for more than $4 billion dollars. O’Leary has long shunned the Toronto Stock Exchange in favor of the more diversified S&P 500, but it appears he has suddenly gotten in touch with his patriotic side.
O’Leary is the father of two children, Savannah, 22, and Trevor, 19. He’s always been open with his kids about money, offering regular advice on financial responsibility as well as sound investment tips. His most recent tip was for both his son and daughter to keep 40{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of their portfolios in Canadian stocks and 60{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} in dividend paying S&P with 10 sectors of diversification. If you’re looking for the right mix of investments in your Tax Free Savings Account, O’Leary advises you to do the same.
In the February 12 episode of Ask O’Leary on BNN, O’Leary told a caller, “The TSX has been crushed because of the energy and energy service sector. I think we’re getting near the eighth or ninth inning of that decline. I’m very bullish should we get our acts together. In other words, hopefully there will be a pipeline announcement in the near future.”
Describing himself as an optimist, O’Leary called Canada a “good buy” for savvy investors at the moment. However, he advised the caller to wait a few weeks until the budget comes out. If the government issues a budget with a deficit of over $30 billion, O’Leary says he’ll withdraw with advice and personally exit Canada in terms of investments. Claiming an added budget deficit would be proof the government doesn’t know what it’s doing, O’Leary said he wanted to wait and see what lawmakers would do before speculating further.
This tidbit was only one of several interesting investment tips O’Leary has offered in the last month. Highlights from recent episodes of Ask O’Leary include:
- O’Leary publicly praised Canadian banks by saying Canada’s intense fiscal regulations made for tightly managed financial institutions, offering extra protection for investors. In fact, he went as far to call them the “best managed financial institutions on the globe” in today’s economy.
- When asked what advice he’d offer for investors debating the merits of Canadian banks versus American banks, O’Leary recommended callers stick to Canadian banks after pointing out the unfavorable nature of the currency conversion. The Canadian dollar closed at 71.77 cents on February 10, a substantial drop from its high of 105.95 in July 2011. Yet, O’Leary remains convinced the loonie is near the end of its struggle and will eventually bounce back stronger than ever.
- For those interested in investing in rental properties, O’Leary said the best investment is pay down the mortgage on the property as soon as possible. Using the income to reduce the debt guarantees increasing returns on the building as the debt gets paid off. Relaying a story about an immigrant couple who only ate pasta while struggling to pay off their first investment property mortgage, he told the caller, “Get rid of debt so you don’t have to eat beans.”
O’Leary has also been in the news due to his recent announcement that he is interested in running for the leadership of the Conservative Party of Canada. Stating that he had been inspired by Donald Trump’s campaign for President in the United States, O’Leary created further political controversy when he offered to invest $1 million in the economy of Alberta in exchange for Premier Rachel Notley’s resignation.
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