FFL Flash Alert - Could the Texans vet be in line for a big game in a divisional showdown?
FFL Flash Alert - Could the Texans vet be in line for a big game in a divisional showdown?
Matt Harmon opens up his metrics notebook heading into Week 8 to re-draft the first round of fantasy football this year, investigate the "Baker Mayfield is better off without Odell Beckham" narrative and much more.
New Jersey officials estimate that 190 residents at veterans homes in Paramus and Menlo Park have died of Covid-19.
IKEA's shopping malls business, one of the world's biggest, said its expansion plans remained on track with visitors quickly returning to its premises after the lifting of coronavirus-related lockdowns which had forced stores to close. Ingka Centres, which has 45 malls anchored by IKEA stores across Europe, Russia and China and plans to enter the United States in 2021, said footfall in the 12 months through August had fallen by almost a quarter and tenant sales had dropped 16% to 5.4 billion euros ($6.4 billion). "Our results this year represent a robust performance under the circumstances we have witnessed," Managing Director Gerard Groener told Reuters.
Without a national mask mandate and a closing of the bars and restaurants - the one place where masks can't work - I do not see a way out of the spiral down until we have a vaccine. Sure there can be therapeutics but, right now, I don't see them on a national scale.
The European Central Bank is expected to resist pressure to unveil fresh stimulus measures on Thursday but it will likely pave the way for action in December as fresh restrictions aimed at containing the coronavirus pandemic fuel fears over a new recession. Having already lined up unprecedented firepower to prop up the 19-member currency bloc's economy, the ECB is in no hurry to act, as its ongoing bond buying could keep markets calm well into next year. "Lagarde needs to walk a fine line with openness to do more, without pre-committing," Danske Bank economist Piet Haines Christiansen said.
Only one of these men tried to evict Big Bird.
As November 12's three-hour Station 19 Season 4/Grey's Anatomy Season 17 premiere crossover event draws ever nearer, anticipation growing ever higher, new intel is trickling out in the form of the episodes' official loglines. In the first of the two Grey's episodes, “All Tomorrow’s Parties” (9/8c that Thursday), "It's all hands on deck" as we […]
Breonna Taylor's mother, Tamika Palmer, is calling for an independent prosecutor and new grand jury to investigate the fatal shooting of her 26-year-old daughter.
NEW YORK, Oct. 28, 2020 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Credit Acceptance Corporation (NASDAQ: CACC), Precigen, Inc. f/k/a Intrexon Corporation (NASDAQ: PGEN; XON), Royal Caribbean Group (NYSE: RCL), and Mesoblast Limited (NASDAQ: MESO). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link Credit Acceptance Corporation (NASDAQ: CACC)Class Period: November 1, 2019 to August 28, 2020Lead Plaintiff Deadline: December 1, 2020Credit Acceptance provides financing programs, and related products and services to independent and franchised automobile dealers in the United States. These programs are offered through a nationwide network of automobile dealers who benefit from sales of vehicles to consumers who otherwise could not obtain financing, as 95% of Credit Acceptance’s loans are considered subprime. The Company’s tag line is “We change lives!” and the Company asserts its financing programs give consumers “a second chance” in improving their credit scores.The ugly truth about the Company’s predatory and illegal business practices was revealed on August 28, 2020 when the Massachusetts Attorney General filed the Mass AG Complaint against Credit Acceptance alleging that Credit Acceptance has, for years, been making unfair and deceptive automobile loans to thousands of Massachusetts consumers. In addition, the lawsuit specifically alleges that Credit Acceptance provided its investors with false and/or misleading information regarding the asset-backed securitizations they offered to investors, and that the Company engaged in unfair debt collection practices as well.In response to the public disclosure of the Mass AG Complaint, Credit Acceptance’s stock price fell $85.36 per share, or over 18%, to close at $374.07 per share over two trading days ending on September 1, 2020.The complaint, filed on October 2, 2020, alleges that defendants failed to disclose to investors: (i) that the Company was topping off the pools of loans that they packaged and securitized with higher-risk loans; (ii) that Credit Acceptance was making high interest subprime auto loans to borrowers that the Company knew borrowers would be unable to repay; (iii) that the borrowers were subject to hidden finance charges, resulting in loans exceeding the usury rate ceiling mandated by state law; (iv) that Credit Acceptance took excessive and illegal measures to collect debt from defaulted borrowers; (v) that, as a result, the Company was likely to face regulatory scrutiny and possible penalties from various regulators or lawsuits; and (vi) that, as a result of the foregoing, defendants positive statements about the Company’s business, operations, and adherence to appropriate laws and regulations were materially misleading and/or lacked a reasonable basis.For more information on the Credit Acceptance class action go to: https://bespc.com/cases/CACCPrecigen, Inc. f/k/a Intrexon Corporation (NASDAQ: PGEN; XON)Class Period: May 10, 2017 to September 25, 2020Lead Plaintiff Deadline: December 4, 2020On September 25, 2020, the U.S. Securities and Exchange Commission (“SEC”) issued a cease and desist order against Precigen. The cease and desist order involved “inaccurate reports concerning the company’s purported success converting relatively inexpensive natural gas into more expensive industrial chemicals using a proprietary methane bioconversion (‘MBC’) program.” The order noted that the Company was “primarily using significantly more expensive pure methane for the relevant laboratory experiments but was indicating that the results had been achieved using natural gas.” The cease-and-desist order further stated that although the Company “pitched the MBC program privately to numerous potential business partners over the course of 2017 and 2018” and “[a] number of these potential partners performed due diligence on the MBC program including reviewing lab results and plans for commercialization. [The Company] has not yet found a partner for the MBC program.”The complaint, filed on October 5, 2020, alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose to investors that: (1) the Company was using pure methane as feedstock for its announced yields for its methanotroph bioconversion platform instead of natural gas; (2) yields from natural gas as a feedstock were substantially lower than the aforementioned pure methane yields; (3) due to the substantial price difference between pure methane and natural gas, pure methane was not a commercially viable feedstock; (4) the Company’s financial statements for the quarter ended March 31, 2018 were false and could not be relied upon; (5) the Company had material weaknesses in its internal controls over financial reporting; (6) the Company was under investigation by the SEC since October 2018; and (7) as a result of the foregoing, defendants’ public statements were materially false and misleading at all relevant times.For more information on the Precigen class action go to: https://bespc.com/cases/PGENRoyal Caribbean Group (NYSE: RCL) Class Period: February 4, 2020 to March 17, 2020Lead Plaintiff Deadline: December 7, 2020The complaint, filed on October 7, 2020, alleges that throughout the Class Period defendants failed to disclose material facts about the Company’s decrease in bookings outside China, instead maintaining that it was only experiencing a slowdown in bookings from China. The Action further alleges that defendants failed to disclose material facts about the Company’s inadequate policies and procedures to prevent the spread of COVID-19 on its ships. The truth about the scope of the impact that COVID-19 had on the Company’s overall bookings and the inability of Royal Caribbean to prevent the virus’ spread on its ships was revealed through a series of disclosures.First, on February 13, 2020, Royal Caribbean issued a press release stating that it had canceled 18 voyages in Southeast Asia due to recent travel restrictions and further warning that recent bookings had been softer for its broader business. On this news, Royal Caribbean shares fell over 3 percent.Second, on February 25, 2020, Royal Caribbean filed its 2019 Form 10-K, indicating that COVID-19 concerns were negatively impacting its overall business. On this news, Royal Caribbean shares fell over 14 percent.Third, on March 10, 2020, Royal Caribbean withdrew its 2020 financial guidance, increased its revolving credit facility by $550 million, and announced that it would take cost-cutting actions due to the proliferation of COVID-19, further revealing that COVID-19 was severely impacting Royal Caribbean’s 2020 customer booking and that its safety measures were inadequate to prevent the spread of the virus on its ships. On this news, Royal Caribbean shares fell over 14 percent.Fourth, on March 11, 2020, Royal Caribbean’s largest competitor, Carnival, announced a 60-day suspension of all operations, prompting concern that Royal Caribbean would follow suit. At the same time, Royal Caribbean also cancelled two cruises, beginning a series of cancellations and suspensions to follow. On this news, Royal Caribbean shares fell almost 32 percent.Fifth, on March 14, 2020, Royal Caribbean announced a suspension of all global cruises for 30 days. On this news, Royal Caribbean stock fell over 7 percent.Sixth, on March 16, 2020, the Company revealed that global operations could be suspended longer than anticipated, announcing the cancellations of two additional cruises throughout April and into May. On this news, Royal Caribbean shares fell over 7 percent.Finally, on March 18, 2020, analysts downgraded Royal Caribbean’s stock and slashed their price targets. On this news, Royal Caribbean shares fell more than 19 percent.For more information on the Royal Caribbean class action go to: https://bespc.com/cases/RCLMesoblast Limited (NASDAQ: MESO) Class Period: April 16, 2019 to October 1, 2020Lead Plaintiff Deadline: December 7, 2020Mesoblast develops allogeneic cellular medicines using its proprietary mesenchymal lineage cell therapy platform. Its lead product candidate, RYONCIL (remestemcel-L), is an investigational therapy comprising mesenchymal stem cells derived from bone marrow. In February 2018, the Company announced that remestemcel-L met its primary endpoint in a Phase 3 trial to treat children with steroid refractory acute graft versus host disease (“aGVHD”).In early 2020, Mesoblast completed its rolling submission of its Biologics License Application (“BLA”) with the FDA to secure marketing authorization to commercialize remestemcel-L for children with steroid refractory aGVHD.On August 11, 2020, the FDA released briefing materials for its Oncologic Drugs Advisory Committee (“ODAC”) meeting to be held on August 13, 2020. Therein, the FDA stated that Mesoblast provided post hoc analyses of other studies “to further establish the appropriateness of 45% as the null Day-28 ORR” for its primary endpoint. The briefing materials stated that, due to design differences between these historical studies and Mesoblast’s submitted study, “it is unclear that these study results are relevant to the proposed indication.”On this news, the Company’s share price fell $6.09, or approximately 35%, to close at $11.33 per share on August 11, 2020.On October 1, 2020, Mesoblast disclosed that it had received a Complete Response Letter (“CRL”) from the FDA regarding its marketing application for remestemcel-L for treatment of SR-aGVHD in pediatric patients. According to the CRL, the FDA recommended that the Company “conduct at least one additional randomized, controlled study in adults and/or children to provide further evidence of the effectiveness of remestemcel-L for SR-aGVHD.” The CRL also “identified a need for further scientific rationale to demonstrate the relationship of potency measurements to the product’s biologic activity.”On this news, the Company’s share price fell $6.56, or 35%, to close at $12.03 per share on October 2, 2020.The complaint, filed on October 8, 2020, alleges that throughout the Class Period defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, defendants failed to disclose to investors: (1) that comparative analyses between Mesoblast’s Phase 3 trial and three historical studies did not support the effectiveness of remestemcel-L for steroid refractory aGVHD due to design differences between the four studies; (2) that, as a result, the FDA was reasonably likely to require further clinical studies; (3) that, as a result, the commercialization of remestemcel-L in the U.S. was likely to be delayed; and (4) that, as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.For more information on the Mesoblast class action go to: https://bespc.com/cases/MESOAbout Bragar Eagel & Squire, P.C.: Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.Contact Information: Bragar Eagel & Squire, P.C. Brandon Walker, Esq. Melissa Fortunato, Esq. Marion Passmore, Esq. (212) 355-4648 email@example.com www.bespc.com
With Pulse Connect Secure, PERSOL Group takes first step towards Zero Trust architecture for 30,000 users in its digital transformation effortsTOKYO, Oct. 28, 2020 (GLOBE NEWSWIRE) -- Pulse Secure, the leading provider of software-defined Secure Access solutions, today announced the successful delivery of a deployment at PERSOL Group, designed to provide secure, remote access to employees while enabling the company to move to a Zero Trust architecture. Based in Japan, PERSOL Group comprises 136 companies in Japan and overseas, with 492 domestic and 188 overseas offices and staffed by a total of around 50,000 employees.To overcome the challenges of maintaining its existing closed network, the group had initially sought to deploy a quarantine solution and a VPN solution to enable employees to connect to its servers securely, while enabling the IT team to control tightly where devices are accessed and by whom, with policy settings of Pulse Connect Secure.However, it was unable to find a vendor that could deliver both solutions satisfactorily and in an easy-to-manage way, until it ran a PoC (proof-of-concept) test with Pulse Secure. With this exercise, the IT team at PERSOL found that Pulse Secure was able to deliver on both fronts, enabling employees to securely access the internal network with a vastly improved user interface.As the pandemic in early 2020 forced the lockdown of cities globally, PERSOL accelerated its deployment of Pulse Connect Secure provided by Pulse Secure Japan to keep its business running amid emergency health and safety measures.“The aim was to develop an infrastructure that is easy to use yet transparent to the end-user,” said Yasutaka Iida, Section Chief of the 2nd User Infrastructure Facility of the Group IT Headquarters, PERSOL Group. “We were looking to build a secure network where we no longer need to be aware of being inside or outside the office, and that could be flexibly tailored to absorb group growth requirements.”By the end of April 2020, PERSOL was able to allow 10,000 simultaneous connections, up from an initial 5,000 in the Kanto region in Japan. More importantly, the change heralded the first step towards a modern network infrastructure, one that is based on high-performance connections and security built from the ground up with Zero Trust.Going forward, PERSOL plans to further deploy cloud proxies and IDaaS (Identity as a Service) and other cloud-based services that do not require users to always log on to an internal network.Instead of perimeter defenses, it will be looking to build a network that provides heightened security along with better performance and simpler connectivity. In 2023, it aims to decommission its existing closed network.So far, into the journey, what has inspired the development is the approval from end-users as well as leaders in the group. PERSOL now aims to use Zero Trust as a concept to build a secure and flexible network, while keeping things seamless for the end-user.“Zero Trust is a concept that we are excited about and are actively developing for because it simplifies and transforms how we manage our infrastructure,” added Iida.About Pulse Secure Pulse Secure provides easy, comprehensive software-driven Secure Access solutions for people, devices, things and services that improve visibility, protection and productivity for our customers. Our suites and SaaS platform uniquely integrate cloud, mobile, application and network access to enable hybrid IT in a Zero Trust world. Over 24,000 enterprises and service providers across every vertical entrust Pulse Secure to empower their mobile workforce to securely connect to applications and information across the data center and multi-cloud while ensuring business compliance. Learn more at www.pulsesecure.net.Follow @PulseSecure on Twitter or visit us on LinkedIn and Facebook. CONTACT: Media Contact: Tony Tan Autonomy for Pulse Secure firstname.lastname@example.org +65 6570 9139
ITO, BPO markets slump on COVID-19 concerns, as companies turn to cloud-based servicesSYDNEY, Australia, Oct. 28, 2020 (GLOBE NEWSWIRE) -- Buffeted by pandemic concerns, the managed services market in Asia Pacific fell in the third quarter to its lowest level in 14 years, according to the latest state-of-the-industry report from Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.The Asia Pacific ISG Index™, which measures commercial outsourcing contracts with annual contract value (ACV) of US $5 million or more, shows the region’s managed services market plummeted 48 percent in the third quarter, to US $338 million, its worst showing since 2006. Within managed services, information technology outsourcing (ITO) was down 50 percent, to US $277 million, and business process outsourcing (BPO) was down 32 percent, to US $61 million.Meanwhile, ACV for cloud-based services, traditionally the dominant force in the region’s sourcing success, was up 6 percent in the third quarter, to US $1.6 billion. That figure includes infrastructure-as-a-service (IaaS), up 8 percent, to US $1.4 billion, and software-as-a-service (SaaS), down 8 percent, to US $222 million—one of its lightest quarters in the last three years.Asia Pacific’s combined market (both managed services and as-a-service) was down 10 percent, to US $1.97 billion, despite overall growth in the as-a-service segment.“Asia Pacific began the year with a record quarter for cloud-based services, but the as-a-service market has drifted lower the last two quarters, reflecting slowing investment due to the pandemic,” said Scott Bertsch, partner and regional leader, ISG Asia Pacific. “This quarter, the growth in cloud-based services was not enough to lift the combined market in Asia Pacific.”Market-share battles in cloud infrastructure continue to rage across the region, especially in India, where the action is heating up in the telco, broadband internet and public cloud markets, Bertsch said. AWS, for example, signed an agreement with Bharti Airtel to bring more cloud services to companies in India, while Microsoft formed a partnership with Jio.In the managed services arena, Bertsch noted that contract volume fell back to more typical levels in the third quarter after a rise in contracting activity the previous quarter. “Virtually all the deals were below US $20 million,” said Bertsch. “Large awards, historically a challenge for Asia Pacific, have dried up since the onset of COVID-19, and the path to closing those deals has grown longer.”Notable bright spots, Bertsch said, were Accenture winning a sizable transaction with a large manufacturer in Asia, and IBM closing a deal with the Airport Authority of Hong Kong.Year-to-Date PerformanceFor the first nine months, Asia Pacific’s combined market dropped 7 percent, to US $6.4 billion. Managed services dropped 41 percent, to US $1.4 billion, on a lack of large deals, with ITO (down 40 percent, to US $1.2 billion) and BPO (down 49 percent, to US $197 million) both contributing to the poor performance. Most of the region’s geographic markets were down substantially, except for Australia-New Zealand (ANZ), which saw its ACV grow 3 percent year to date.As-a-Service, meanwhile, rose 11 percent, to US $5 billion, although this segment is growing much more slowly than in previous years. IaaS was up 14 percent, to US $4.3 billion, even as SaaS declined 6 percent, to US $695 million.Global Forecast ISG is forecasting the global managed services market will be down 6 percent for the full year, 150 basis points better than its July forecast. The firm is projecting the global as-a-service market will grow by 15.5 percent in 2020, up from its 11 percent forecast in July.About the ISG Index™The ISG Index™ is recognized as the authoritative source for marketplace intelligence on the global technology and business services industry. For 72 consecutive quarters, it has detailed the latest industry data and trends for financial analysts, enterprise buyers, software and service providers, law firms, universities and the media. In 2016, the ISG Index was expanded to include coverage of the fast-growing as-a-service market, measuring the significant impact cloud-based services are having on digital business transformation. ISG also provides ongoing analysis of automation and other digital technologies in its quarterly ISG Index presentations. For more, visit this webpage.About ISGISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 700 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com. Press Contacts:Will Thoretz, ISG +1 203 517 3119 email@example.comJim Baptiste, Matter Communications for ISG +1 978 518 4527 firstname.lastname@example.org
Resist the urge to let emotions rule on days like this, says Jim Cramer. Instead, aim your cash at these stocks.
Launching publicly today, SPOKEN GIANTS is the first royalty administration company for creators of spoken word copyrights (comedians, podcasters, authors of speeches/lectures, etc.). Founded by former BMI executive Jim King and 800 Pound Gorilla Records co-founders Ryan Bitzer and Damion Greiman, Spoken Giants represents hundreds of members, including Lewis Black, Dan Cummins, Gerry Dee, Pete Holmes, Kyle Kinane, Kathleen Madigan, the Ralphie May Estate, Leanne Morgan, and Theo Von, among others, and are scaling up dramatically.
Van Eperen, an integrated communications agency specializing in public relations, marketing, and creative services, announces the hiring of Jessica Alvarez as an account executive.
NOVATO, Calif., Oct. 28, 2020 (GLOBE NEWSWIRE) -- Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE), a biopharmaceutical company focused on the development and commercialization of novel products for serious rare and ultra-rare genetic diseases, today announced the pricing of its underwritten public offering of 4,444,444 shares of its common stock at a price to the public of $90.00 per share resulting in gross proceeds of $400 million, before underwriting discounts. In addition, the company has granted the underwriters of the offering an option for a period of 30 days to purchase up to an additional 666,666 shares of the company's common stock at the public offering price, less the underwriting discount. The offering is expected to close on or about November 2, 2020, subject to satisfaction of customary closing conditions. J.P. Morgan, Goldman Sachs & Co. LLC, BofA Securities, and Cowen are acting as joint book-running managers for the offering.A registration statement relating to these securities has been filed with the Securities and Exchange Commission and became automatically effective on February 21, 2018. This offering is being made solely by means of prospectus supplement and accompanying prospectus. When available, copies of the final prospectus supplement and the accompanying prospectus related to the offering may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by telephone at 866-803-9204, or by email at prospectus- email@example.com; Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing Prospectusfirstname.lastname@example.org; BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, or by email at email@example.com; and Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY, 11717, United States, Attn.: Prospectus Department or by telephone 1-631-274-2806.This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.About UltragenyxUltragenyx is a biopharmaceutical company committed to bringing to patients novel products for the treatment of serious rare and ultra-rare genetic diseases. The company has built a diverse portfolio of approved therapies and product candidates aimed at addressing diseases with high unmet medical need and clear biology for treatment, for which there are typically no approved therapies treating the underlying disease.The company is led by a management team experienced in the development and commercialization of rare disease therapeutics. Ultragenyx's strategy is predicated upon time- and cost-efficient drug development, with the goal of delivering safe and effective therapies to patients with the utmost urgency.Forward-Looking StatementsExcept for the historical information contained herein, the matters set forth in this press release, including statements regarding the expected closing of the public offering, are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve substantial risks and uncertainties that could cause our clinical development programs, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties related to market conditions and the completion of the public offering on the terms to which the company has agreed or at all, the uncertainties inherent in the clinical drug development process, such as the regulatory approval process, the timing of regulatory filings, and other matters that could affect sufficiency of existing cash, cash equivalents and short-term investments to fund operations and the availability or commercial potential of our drug candidates. Ultragenyx undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Ultragenyx in general, see Ultragenyx's Registration Statement on Form S-3 filed with the Securities and Exchange Commission on February 21, 2018, as may be amended from time to time, together with its preliminary prospectus supplement and accompanying prospectus filed with the Securities and Exchange Commission on October 28, 2020 and, when available, its final prospectus supplement and accompanying prospectus, and the documents incorporated by reference therein, including its Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 14, 2020, and its subsequent periodic reports filed with the Securities and Exchange Commission.Contact Ultragenyx Pharmaceutical Inc. Investors & Media Joshua Higa 415-475-6370
Maximum $100 Million – Closing November 19, 2020CALGARY, Alberta, Oct. 28, 2020 (GLOBE NEWSWIRE) -- Middlefield Group, on behalf of Real Estate & E-Commerce Split Corp. (the “Company”), is pleased to announce that it has filed a final prospectus in relation to an initial public offering of class A shares and preferred shares. The maximum amount of the offering is $100 million.The Company will invest in a diversified, actively managed portfolio of dividend-paying securities of issuers operating in the real estate or related sectors, including real estate investment trusts, that the Advisor (as defined below) believes are well-positioned to benefit from low interest rates, the rapid adoption of e-commerce, the growth of data infrastructure as well as attractive valuations in various areas of the real estate sector.The Company’s investment objectives for the:Class A shares are to provide holders with: 1. non-cumulative monthly cash distributions; and 2. the opportunity for capital appreciation through exposure to the portfolioPreferred shares are to: 1. provide holders with fixed cumulative preferential quarterly cash distributions; and 2. return the original issue price of $10.00 to holders upon maturityThe initial target distribution yield for the class A shares is 8% per annum based on the original subscription price (or $0.10 per month or $1.20 per annum).The initial target distribution yield for the preferred shares is 5.25% per annum based on the original subscription price (or $0.13125 per quarter or $0.525 per annum).Middlefield Capital Corporation (the “Advisor”) will provide investment management advice to the Company.The syndicate of agents is being co-led by CIBC Capital Markets and RBC Capital Markets, and includes BMO Capital Markets, Scotiabank, TD Securities Inc., Canaccord Genuity Corp., National Bank Financial Inc., Industrial Alliance Securities, Manulife Securities Incorporated, Raymond James Ltd., Richardson GMP, Middlefield Capital Corporation, Echelon Wealth Partners Inc. and Mackie Research Capital Corporation.For further information, please visit our website at www.middlefield.com or contact Nancy Tham or Michael Bury in our Sales and Marketing Department at 1.888.890.1868.This offering is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from your IIROC registered financial advisor using the contact information for such advisor. Investors should read the prospectus before making an investment decision.
BRISBANE, Australia, Oct. 29, 2020 (GLOBE NEWSWIRE) -- SEPTEMBER QUARTER 2020 KEY HIGHLIGHTS1The Olaroz Lithium Facility (Olaroz) continued to operate under the established Bio-Security Protocol with limits on the number of personnel on site for both operations and expansion works. Cash cost of sales was successfully maintained near recent lows at US$3,974/tonne. Market conditions and product pricing continued to be challenging with significantly higher sales volume of 3,393 tonnes at a price of US$3,102/tonne following the discounting of excess inventory in July. Work continues at the Naraha Lithium Hydroxide Plant (Naraha) although some delays are expected.OLAROZ LITHIUM FACILITY (ORE 66.5%)2 * Operational activities continue to focus on the health and well-being of our staff, contractors and communities while maintaining production at an appropriate level to meet customer demand * Production for the quarter of 2,352 tonnes was down 6% on the quarter on quarter (QoQ) due to a three week scheduled shutdown. Plant stability and operating practices continue to improve as evidenced by brine grades that are higher than at the same period in previous years and higher recoveries * Sales volume for the quarter was up 112% quarter on quarter to 3,393 tonnes, while sales revenue was up 68% QoQ to US$10.5 million following the sale of excess inventory. The realised average price achieved was US$3,102/tonne on a free on board basis (FOB)3. Sales volumes were approximately 22% battery grade lithium carbonate and the remainder primary grade lithium carbonate * Cash costs for the quarter (on a cost of goods sold basis)4 were US$3,974/tonne, excluding the export tax of US$70/tonne but including all additional costs incurred as a result of COVID-19 restrictions and operating practices * During the quarter Orocobre entered into a non-binding MOU with Prime Planet Energy and Solutions (PPES), a joint venture between Toyota (51%) and Panasonic (49%) specialising in the production of automotive battery cells, for the long-term supply of product culminating in 30kt of lithium carbonate equivalent (LCE) in CY25. Discussions are now underway to finalise the detailed terms of the agreement * Lithium prices appear to have bottomed and realised Q2 FY21 prices are expected to be higher than Q1LITHIUM GROWTH PROJECTS * Construction work on Stage 2 continued to be impacted during the quarter by COVID-19 restrictions. Construction has progressed to approximately 44% completion. Plans are in place to increase the accommodation available for expansion personnel so that appropriate social distancing can be maintained as the workforce increases. Stage 2 is expected to commence production in FY23, ramping up to full capacity of 25,000 tonnes per annum (ktpa) of industrial grade lithium carbonate by FY26 * Naraha Lithium Hydroxide Plant construction has continued throughout the period. However, delayed equipment deliveries from overseas will result in commissioning commencing in H2 CY21. Construction has achieved >80% completionBORAX ARGENTINA * Overall sales volume for the September quarter was 8,964 tonnes, down 27% QoQ and down 28% on the previous corresponding period (PCP) * Sales revenue was down 12% QoQ due to decreased volume, however the average price received was up 21% QoQ with improved sales mixCORPORATE * During the quarter Orocobre announced a Placement and Share Purchase Plan (SPP) which raised total funds of A$169 million. Funds raised will be used to support Olaroz Stage 1 ramp up and Stage 2 development through a range of operating and pricing environments, as well as capital for future growth initiatives * As at 30 September 2020, Orocobre corporate had available cash of ~US$225.3 million of which US$11.1 million and US$48.8 million have been set aside as pre-completion guarantees for the Naraha debt facility and Olaroz Expansion debt facility respectively. On October 2, the corporate cash balance increased to US$255.6 million following the completion of the Share Purchase Plan * Including SDJ, Borax and Naraha cash and project debt, net group cash at 30 September 2020 was US$102.6 million, up from US$44.6 million at 30 June 2020 OLAROZ LITHIUM FACILITYClick here for more information on OlarozCOVID-19Subsequent to the end of the quarter and as announced to the ASX on 26 October, COVID-19 infection has been identified for the first time at our operations with recently returned employees. In accordance with the Bio-Security Protocol, isolation procedures and contract tracing were initiated. Affected staff have been relocated to Jujuy for medical treatment as required but remain in good health. Operations were temporarily suspended for cleaning and rotation of staff, however production has now recommenced.Daily monitoring of workforce health continues throughout 14-21 day rosters that apply to all personnel and include those employees who would normally reside in local communities.SAFETYSafety (and health) remains the number one priority for the Company. No Lost Time Injuries (LTI) were recorded at Olaroz during the quarter. As at 30 September the operations recorded 251 days without a LTI.The Company has continued to focus this quarter on the implementation of the SICOP contractor management system. SICOP serves as a centralised control system which provides real-time visibility of contractor certifications, compliance and performance in accordance with established standards and regulations. The safety team is also developing a Contractor Safety Management standard to pre-qualify contractors and evaluate their performance with a strong focus on procedure compliance and safety practices.The Dupont programs continue to enhance our safety culture and remain a key priority even during the current COVID-19 situation. In parallel, the Intelex Safety Management database went through a detailed scope revision and was re-defined according to corporate objectives. The assessment is already concluded, and the implementation is in process (Current stage: translation and training to key users).Lagging and key leading indicators have been identified and defined to measure and improve safety and environmental performance. Annual site objectives have been defined and a control dashboard implemented.OPERATIONAL UPDATEQUALITYDespite current COVID19 restrictions, plant stability and reliability remain very good with process capability (CpK) showing on-going improvement.Brine feed concentration to the plant also demonstrates ongoing improvement year on year with CY20 concentrations remaining close to the desired range of 7000-7500ppm for much of the year despite the usual seasonal variations which occur especially during winter months.Improved operating discipline has seen magnetic particles in final purified products reduce by around 93% ensuring that product specifications remain well within requirements for battery grade material.Despite limited operational staff due to COVID-19 restrictions, the team continues to implement the Toyota Production System and to take advantage of opportunities for improvement with the Kaizen process. Scheduled maintenance to the carbonate plant was undertaken during July and was completed below budget. This work was completed by internal staff and resources to minimise costs.PRODUCTIONProduction for the September quarter was 2,352 tonnes down from 2,511 tonnes in the PCP due to COVID-19 related operational restrictions, scheduled maintenance and the scaling of production. Brine concentration remains at higher levels than in recent years allowing for high daily production rates, higher plant recovery and maintenance of lower costs, even when COVID-19 related costs are included.SALES AND COMMERCIALProduct sales were 3,393 tonnes of lithium carbonate. The average price received was US$3,102/tonne on an FOB basis and total sales revenue was US$10.5 million. The average price received during the quarter was down 21% QoQ due to a strategic marketing decision to reduce excess inventory during July, significant market softness related to COVID-19 and continued aggressive competitor pricing. Lithium pricing appears to have reached a bottom and realised Q2 FY21 prices are expected to be higher than Q1 FY21.PPES MOUDuring the quarter Orocobre entered into a non-binding MOU with PPES, a joint venture between Toyota (51%) and Panasonic (49%) specialising in the production of automotive battery cells, for the long-term supply of product culminating in 30kt of LCE in CY25. Discussions are now underway to finalise the detailed terms of the agreement.If a binding agreement is executed on the anticipated terms, it would minimise Orocobre's exposure to spot prices, significantly improve the customer mix and would result in Olaroz Stages 1 and 2, along with Naraha volumes, being fully contracted, once added to contracts that already exist with other cathode manufacturers.The MOU anticipates that certain price indicators will form the basis of arms-length pricing formulas.COSTS/MARGINSCash cost of goods sold for the quarter (including COVID-19 costs) remained near recent lows at US$3,974/tonne and down 21% on PCP. This excludes export duties for the quarter of US$70/tonne. Gross cash margins for the quarter were negative at US$872/tonne, this is expected to improve with better pricing in Q2 FY21.MetricSept. quarter 2020June quarter 2020Change QoQ (%)PCP (Sept qtr 2019)Change PCP (%) Production (tonnes)23522511-6%3,093-24% Sales (tonnes)33931601112%3,1089% Average price received (US$/tonne)331023913-21%7,027-56% Cost of sales (US$/tonne)4397439201.4%5,042-21% Revenue (US$M)11668%22-52% Gross cash margin (US$/tonne)-872-712357%1,985-144% Gross cash margin (%)-28%0%15614%28%-200% Export tax (US$/tonne)70151-54%420-83% Total cost of sales has remained at recent lows despite reduced production volumes demonstrating the significant focus and reduction of fixed costs within the operating business.STAGE 2 EXPANSION AT OLAROZPROGRESS TO DATEWork during the September quarter has continued with a reduced workforce adhering to COVID-19 restrictions. As at 6 October, 2020 construction work has achieved 43.8% of completion. Key areas of development are brine extraction wells and gathering systems, lime plant, collection ponds and soda ash handling facilities. Capital expenditure to the end of the quarter is approximately US$159 million excluding VAT and working capital.Much of the steel structure for the carbonation plant has now arrived at port and is being transported to site.Expansion of the construction camp has been contracted which will allow an increase in the workforce over the next 5 months to approximately 500 employees and then 900 by September next year. Original plans for expansion workforce accommodation envisaged two or more people per room, however with social distancing requirements limiting accommodation to one person per room, additional rooms have to be installed. Work will continue to be restricted until the additional accommodation becomes available.Stage 2 is expected to commence production in FY23, ramping up to full capacity of 25ktpa of industrial grade lithium carbonate by FY26.NARAHA LITHIUM HYDROXIDE PLANTPROGRESS TO DATEThe Naraha Plant, the first of its kind to be built in Japan, is designed to convert industrial grade lithium carbonate feedstock into purified battery grade lithium hydroxide. Feedstock for the 10,000 tonne per annum (tpa) Naraha Plant will be sourced from the Olaroz Lithium Facility’s Stage 2 Expansion that will produce industrial grade (>99.0% Li2CO3) lithium carbonate.Since construction commenced at the Naraha Plant there have been no LTIs recorded.As at 30 September, approximately US$50 million has been spent on engineering, civil works, electrical, instrumentation, fabrication and procurement at the Naraha Plant. Site operations have continued throughout the period with construction now >80% complete, however equipment deliveries from overseas are expected to be delayed with commissioning in H2 CY21.SHARED VALUE PROGRAM AND COMMUNITYWith ongoing COVID-19 restrictions, the Shared Value team continues to adapt their interaction and communication with communities that are directly, and indirectly, affected by the Company’s operations.Priorities during the quarter included: * Monthly Team Meetings: with some organisational changes in the area, the Shared Value team worked on aligning regular activities, strengthening internal communication and process optimisation. Team members are working to design and prepare programs for when the lockdown is lifted while they are working on activities that can be performed remotely * Accurate and Timely Communication: The Quarter has been characterised by COVID-19 positive cases in our communities. The team acted promptly sharing the information received by the crisis committee in a proactive manner to strengthen the community-Company relationship and reduce adverse consequences to a minimum * Community Infrastructure Program. Community Investment: During the first half of September communities continued under strict lockdown. At the beginning of October health authorities are evaluating gradually authorising increased movement of people with a move from mandatory lockdown to social distancing which is likely to allow us to expand our programs * Support to Local Suppliers: In the Framework of the health crisis created by the COVID-19 virus, we continue supporting local suppliers belonging to the communities in Orocobre's area of influence. Aiming to minimise any negative financial impact, the Shared Value team is providing comprehensive support through an active listening process, taking into consideration their needs, perceptions, questions and expectations related to working with the Company * Donation and Volunteering: Both activities are coordinated to ensure the effective use of the Company’s resources in response to COVID-19 impacts through donations to local communities and the government * A mobile X-ray machine was donated to the Nuestra Sra. de Belén Hospital in Susques. Health and sanitation articles are delivered directly to Head Coordinators in the communities as part of direct help programs * In September both the “El Toro Community Hall Work” and the “Susques Community Hall Work” resumed and have now achieved 95% completion. Both will be finished in November MARKET Early signs of improved market conditions emerged late in the quarter as several supportive demand catalysts began to build. Europe recorded year-on-year EV sales growth of approximately 170% during the September quarter (source: EV-Volumes) recovering strongly after COVID-19 related interruptions.Optimism towards the lithium market has been bolstered by the European EV sales, underpinned by supportive policy and subsidisation. Since 2018 the Chinese market has been in a state of malaise following ongoing reductions in the value of EV subsidisation. However, several positive factors appeared during the quarter to help improve sentiment in the Chinese market.After 12 consecutive months of year-on-year (YoY) declines in NEV sales, China reversed its downward trajectory recording growth during July, August and September of +23%, +28%, +73% yoy respectively (source: CAAM). Most notably, September NEV sales of approximately 138,000 were the highest on record. Ebus sales also began to improve achieving YoY sales growth of ~79% in September. The quarter started positively as China’s Ministry of Industry and Information Technology (MIIT) announced a plan to promote NEV sales in rural areas requiring all related local governments to cooperate.Historically NEV sales have been concentrated in metropolitan areas where the comparatively lower driving range of most Chinese models is not as prohibitive. However, the Chinese government’s focus on building EV infrastructure and improving battery performance standards allowing for greater presence of international EV makers continues to make rural markets increasingly feasible for EV use. In addition to this measure, the MIIT announced in early October a target of 80% electrification of public commercial vehicles such as buses and taxis.Improved Chinese demand comes at a time when seasonality plays a big part in domestic supply. Historically, domestic production contracts ~30-40% from peak levels tapering from October through to the end of Chinese New Year, as very low temperatures in the regions where Chinese brine is produced hinders both operations and logistics. Chinese brine supply is typically fed into the carbonate market rather than hydroxide. In addition, growing usage of LFP cathode in the Chinese EV and energy storage market has lifted demand.Collectively these supply and demand factors and lower inventory levels among domestic producers have led to marginal improvements in the Chinese carbonate spot price in recent weeks. It is too early to predict whether such positive momentum can be maintained as aggressive pricing from South American producers is likely to continue with market share and volume objectives expected to drive sales behaviour as 2020 comes to a close.Continued improvements in market sentiment and continued destocking from record levels in mid-2020 will require sustained momentum from European and Chinese EV markets, alongside supply discipline from marginal converters and their Chinese or Australian feedstock suppliers.Following the easing of COVID-19 restrictions, Germany and France’s EV sales grew 100% and 50% respectively year-on-year in May demonstrating the immediate impact of new subsidies on consumer EV appetite. During the quarter there were further announcements of battery and EV manufacturing partnerships, and even retooling of production facilities from ICE production to EVs.On a global basis the lithium market has suffered a setback due to COVID-19, however the medium to long term outlook remains positive and continues to be further reinforced with increasing government regulation and funding.BORAX ARGENTINA S.A.SAFETYTwo Lost Time Injuries were recorded at Borax during the quarter. One in July at Tincalayu (slip and fall with laceration to the head) and the second one in August at Campo Quijano (exposed fracture of the thumb and deep cut in elbow). Sijes has now achieved 91 days without an LTI.No environmental incidents occurred at Borax operations in the quarter.After the last LTI in Borax, senior management decided to stop the operations at Campo Quijano and undertake a comprehensive self-assessment regarding site safety conditions in the entire company. The focus of the assessment was: * Hazard analysis and standard operating procedures * Unsafe field conditions and housekeeping * Leadership involvement and accountability. PRODUCTION, SALES AND OPERATIONAL UPDATEThe September quarter saw sales of 8,964 tonnes which was down 27% QoQ and approximately 28% down from the previous corresponding period. Total sales revenue was down 12% QoQ, while the average price received was up 21% QoQ due to improved sales mix.Operations have continued under the Orocobre Bio-security Protocol and to date no cases of COVID-19 have been recorded at any Borax site.COMBINED PRODUCT SALES VOLUME BY QUARTERPrevious Year QuartersRecent Quarters December 201810,741 December 20198,614 March 201913,0415 March 202010,690 June 201911,758 June 202012,278 September 201912,480 September 20208,964 CORPORATE AND ADMINISTRATIONFINANCECASH BALANCEAs at 30 September 2020, Orocobre corporate had available cash of ~US$225.3 million of which US$11.1 million and US$48.8 million have been set aside as pre-completion guarantees for the Naraha debt facility and Olaroz Expansion debt facility respectively. On October 2, the corporate cash balance increased to US$255.6 million following the completion of the Share Purchase Plan.Cash at 30 September reconciles to the 30 June balance with inflows of US$89.3 million (net of fees) from the Institutional Placement and US$0.7 million interest income. Outflows of cash were US$16.8 million advanced to SDJ Joint Venture (SDJ) as a shareholder loan to fund the repayment of the Mizuho project finance facility (Stage 1) and paydown of working capital facilities. Corporate spend for the quarter was US$2 million, inclusive of US$0.6 million for advanced payments related to the full financial year, US$0.4 million of transaction costs related to the Advantage Lithium acquisition, US$0.3 million advanced to Borax mainly for restructuring costs and US$0.3 million of other advances.Including SDJ and Borax cash and project debt, net group cash at 30 September 2020 was US$102.6 million, up from US$44.6 million at 30 June 2020 as calculated below and after including Naraha facilities:EQUITY PLACEMENT AND SHARE PURCHASE PLANDuring the quarter Orocobre announced a Placement and Share Purchase Plan which raised total funds of A$169 million. Funds raised will be used to support Olaroz Stage 1 ramp up and Stage 2 development through a range of operating and pricing environments, as well as capital for future growth initiatives.Placement: Orocobre raised approximately A$126 million / US$91 million6 from the Placement and issued approximately 50 million new fully paid ordinary shares (New Shares), representing 18.1% of Orocobre’s existing shares on issue.The Placement issue price of A$2.52 per share represented a 13.1% discount to Orocobre’s closing price of A$2.90 on the ASX on Thursday, 27 August 2020.Share Purchase Plan: Following completion of the Placement, Orocobre conducted an offer of New Shares under a non-underwritten share purchase plan.Eligible shareholders in Australia and New Zealand were offered the opportunity to apply for up to A$30,000 of new fully paid ordinary shares free of any brokerage, commission and transaction costs.The price paid by eligible shareholders for New Shares under the SPP was the same as the Placement price at A$2.52 per New Share which was the lowest of several pricing mechanisms that were offered.The SPP was open to 10,742 Eligible Shareholders. The Company received applications from 2,469 Eligible Shareholders representing a participation rate of 23% and an average application amount of approximately A$17,000. No scale back was applied and approximately 17 million New Shares were issued on 1 October 2020.ARGENTINA ECONOMIC CONDITIONSCurrency: The official foreign exchange rate depreciated by 8% in the September Quarter from AR$70.46 at 30 June 2020, to AR$76.18 at 30 September 2020. The accumulated 12-month period from 1 October 2019 to 30 September 2020 resulted in a 32% devaluation of the AR$ against the US$.Inflation: September’s inflation was 2.8% and accumulated 7.6% in the quarter. The accumulated 12-month period from 1 October 2019 to 30 September 2020 resulted in inflation of approximately 37%.Authorised by:Rick Anthon Joint Company SecretaryFOR FURTHER INFORMATION PLEASE CONTACT:Andrew Barber Chief Investor Relations Officer Orocobre Limited P: +61 7 3720 9088 M: +61 418 783 701 E: firstname.lastname@example.org W: www.orocobre.comTwitter: https://twitter.com/OrocobreLimited LinkedIn: https://www.linkedin.com/company/orocobre-limited Facebook: https://www.facebook.com/OrocobreLimited/ Instagram: https://www.instagram.com/orocobre/ YouTube: https://www.youtube.com/OrocobreLimitedClick here to subscribe to the Orocobre e-NewsletterABOUT OROCOBRE LIMITEDOrocobre Limited is listed on the Australian Securities Exchange and Toronto Stock Exchange (ASX:ORE) (TSX:ORL) and is a substantial Argentinian-based industrial chemicals and minerals company operating a portfolio of lithium, potash and boron projects and facilities in the Puna region of northern Argentina. The Company has built, in partnership with Toyota Tsusho Corporation and the investment division of the Jujuy Provincial Government (JEMSE), the first large-scale, greenfield brine-based lithium project in approximately 20 years at the Salar de Olaroz with planned production of 42,500 tpa of low-cost lithium carbonate.The Olaroz Lithium Facility has a low environmental footprint because of the following aspects of the process: * The process is designed to have a high processing recovery of lithium. With its low unit costs, the process results in low lithium cut-off concentration, which maximises resource recovery. * The process has a zero liquid discharge design. Waste products are stored in permanent impoundments (the lined evaporation ponds). At the end of the project life the ponds will be capped and returned to a similar profile following soil placement and planting of original vegetation types. * Brine is extracted from wells with minimum impact on process water resources outside the Salar. Because the lithium is in sedimentary aquifers with relatively low permeability, drawdowns are limited to the Salar itself. This is different from halite hosted deposits such as Salar de Atacama, Salar de Hombre Muerto and Salar de Rincon where the halite bodies have very high near surface permeability and the drawdown cones can impact on water resources around the Salar affecting the local environment. * Energy used to concentrate the lithium in the brine is solar energy. The carbon footprint is lower than other processes. * The technology developed has a very low maximum process water consumption of <20 l/s for current production which is low by industry standards. This process water is produced by reverse osmosis from non-potable brackish water. * Sales de Jujuy S.A. is also committed to the ten principles of the sustainable development framework as developed by The International Council on Mining and Metals. The Company has an active and well-funded “Shared Value” Program aimed at the long-term development of the local people.In accordance with its Community Policy, Orocobre continues to empower its communities through capacity building initiatives, and to encourage and facilitate direct and indirect community involvement in its activities. Priority in employment and procurement is given to the local communities of Olaroz Chico, Huáncar, Puesto Sey, Pastos Chicos, Susques, Catua, Jama, El Toro, Coranzulí and San Juan de Quillaques, all of which it is expected to receive education, training, development and support through Orocobre’s Shared Value Program.TECHNICAL INFORMATION, COMPETENT PERSONS’ AND QUALIFIED PERSONS STATEMENTSThe Company is not in possession of any new information or data relating to historical estimates that materially impacts on the reliability of the estimates or the Company’s ability to verify the historical estimates as mineral resources, in accordance with the JORC Code. The supporting information provided in the initial market announcement on 21/08/12 continues to apply and has not materially changed. Additional information relating to the Company’s Olaroz Lithium Facility is available on the Company’s website in “Technical Report – Salar de Olaroz Lithium-Potash Project, Argentina” dated May 13 2011, which was prepared by John Houston, Consulting Hydrogeologist, together with Mr. Michael Gunn, Consulting Processing Engineer, in accordance with NI 43-101.The information in this report that relates to exploration reporting at the Cauchari project has been prepared by Mr. Murray Brooker. Mr. Brooker is a geologist and hydrogeologist and is a Member of the Australian Institute of Geoscientists. Mr. Brooker is an employee of Hydrominex Geoscience Pty Ltd and is independent of Orocobre. Mr. Brooker has sufficient relevant experience to qualify as a competent person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. He is also a “Qualified Person” as defined in NI 43-101. Mr. Brooker consents to the inclusion in this announcement of this information in the form and context in which it appears.CAUTION REGARDING FORWARD-LOOKING INFORMATION Forward-looking information may include, but is not limited to, the successful ramp-up of the Olaroz Project, and the timing thereof; the design production rate for lithium carbonate at the Olaroz Project; the expected brine concentration at the Olaroz Project; the Olaroz Project’s future financial and operating performance, including production, rates of return, operating costs, capital costs and cash flows; the comparison of such expected costs to expected global operating costs; the ongoing working relationship between Orocobre and the Provinces of Jujuy and Salta in Argentina; the on-going working relationship between Orocobre and the Olaroz Project's financiers, being Mizuho Bank and JOGMEC and the satisfaction of lending covenants; the future financial and operating performance of the Company, its affiliates and related bodies corporate, including Borax Argentina S.A. (Borax Argentina); the estimation and realisation of mineral resources at the Company’s projects; the viability, recoverability and processing of such resources; timing of future exploration of the Company’s projects; timing and receipt of approvals, consents and permits under applicable legislation; trends in Argentina relating to the role of government in the economy (and particularly its role and participation in mining projects); adequacy of financial resources, forecasts relating to the lithium, boron and potash markets; potential operating synergies between the Cauchari Project and the Olaroz Project; the potential processing of brines from the Cauchari Project and the incremental capital cost of such processing, expansion, growth and optimisation of Borax Argentina’s operations; the integration of Borax Argentina’s operations with those of Orocobre and any synergies relating thereto and other matters related to the development of the Company’s projects and the timing of the foregoing matters.Forward-looking statements are based on current expectations and beliefs and, by their nature, are subject to a number of known and unknown risks and uncertainties that could cause the actual results, performances and achievements to differ materially from any expected future results, performances or achievements expressed or implied by such forward-looking statements, including but not limited to, the risk of pandemic, further changes in government regulations, policies or legislation; that further funding may be required, but unavailable, for the ongoing development of the Company’s projects; fluctuations or decreases in commodity prices; uncertainty in the estimation, economic viability, recoverability and processing of mineral resources; risks associated with development of the Olaroz Project; unexpected capital or operating cost increases; uncertainty of meeting anticipated program milestones at the Olaroz Project or the Company’s other projects; exceptional or prolonged adverse weather conditions: risks associated with investment in publicly listed companies, such as the Company; risks associated with general economic conditions; the risk that the historical estimates for Borax Argentina’s properties that were prepared by Rio Tinto, Borax Argentina and/or their respective consultants (including the size and grade of the resources) are incorrect in any material respect; the inability to efficiently integrate the operations of Borax Argentina with those of Orocobre; as well as those factors disclosed in the Company’s Annual Report for the financial year ended 30 June 2020 and Sustainability Report 2019 available on the ASX website and at www.sedar.com.The Company believes that the assumptions and expectations reflected in such forward-looking information are reasonable. Assumptions have been made regarding, among other things: the timely receipt of required approvals and completion of agreements on reasonable terms and conditions; the ability of the Company to obtain financing as and when required and on reasonable terms and conditions; the prices of lithium, potash and borates; market demand for products and the ability of the Company to operate in a safe, efficient and effective manner. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws._____________________________________________ 1 All figures presented in this report are unaudited 2 All figures 100% Olaroz Project basis 3 Orocobre report price as “FOB” (Free On Board) which excludes insurance and freight charges included in “CIF” (Cost, Insurance, Freight) pricing. Therefore, the Company’s reported prices are net of freight (shipping), insurance and sales commission. FOB prices are reported by the Company to provide clarity on the sales revenue that is recognized by SDJ, the joint venture company in Argentina. 4 Excludes royalties, export tax, corporate costs and US$1.3 million of costs incurred due to a scheduled shutdown that will be amortised over the financial year 5 Includes 2,312 tonnes of low value mineral product 6 Based on USD / AUD exchange rate of 0.735 as at 31 August 2020.
SpaceX’s second astronaut flight is off until mid-November because red lacquer dripped into tiny vent holes in two rocket engines that now must be replaced. SpaceX and NASA officials announced the discovery of the potentially damaging contamination Wednesday. The clogged holes were found after the aborted launch of a GPS satellite on Oct. 2.
As the presidential campaign heats up, the Guardian is tracking the latest polling in eight battleground states that could decide the electiondefault Joe Biden is leading Donald Trump in the national polls for the presidential election.But that doesn’t guarantee the Democratic candidate victory. Hillary Clinton also had a clear lead over Trump in the polls for almost the entire 2016 campaign. She ended up losing in the electoral college.Because the presidential voting system assigns each state a number of electoral college votes, which go to the state’s victor regardless of the margin of victory (with the exception of Nebraska and Maine), a handful of swing states will probably decide the election and be targeted heavily by campaigners.Each day, the Guardian’s poll tracker takes a rolling 14-day average of the polls in eight swing states.In order to track how the race is developing in the areas that could decide the election, six of the eight states we focused on were those that flipped to Trump in 2016 after backing Barack Obama in 2012. Arizona and North Carolina were also added due to what they might tell us about a shifting electoral landscape – they could emerge as vital new swing states this year.We must caution that the polls – particularly some swing state polls – severely undercounted Trump supporters in 2016. We are not certain, despite assurances, that they they have corrected this. Additionally, they may be over-counting Democratic support (more people may say they will vote for Biden than actually turn out).We present the latest polls with those caveats in mind.default The national pollsThe latest polling average puts Biden ahead of Trump nationally.While the national poll tracker is a poor indicator of how the crucial swing states will sway the election, a strong polling lead across the country can point to how the race will develop.Each day, the Guardian’s national poll tracker takes a 14-day average of national voting intention polls.default On Tuesday 3 November 2020, Americans will vote for their next president, with a choice between Donald Trump, the Republican incumbent, or his Democratic challenger, Joe Biden.default MethodologyThe Guardian poll tracker tracks the latest polls in eight crucial swing states. For Biden to win, he needs to reclaim some of these swing states.The Guardian is collating polls in each of these states, as well as another set of national polls. Polls are assessed for their reliability by looking at factors such as their sample size.Our polling average is a 14-day rolling average: on any day, we collate any polls published in the last 14 days and take a mean average of their results.If any company has conducted multiple polls in the last 14 days, we average out their polling results in order to give them just one entry. After this standardization process, we take a mean average of these daily entries to present the polling average. * This article was amended on 28 October 2020 to clarify that Maine and Nebraska are alone in assigning their electoral college votes in proportion to the popular vote.