B2Gold Q4 net profit sliced almost in half gold sales improve to

VANCOUVER – B2Gold Corp. (TSX:BTO) saw its net income cut almost in half in the fourth quarter amid higher taxes and other costs that more than offset improved revenue from gold sales.The Vancouver-based miner with operations in Nicaragua and interests in other Latin American countries, as well as the Philippines and Africa, said Thursday that it had US10.9 million or three cents per share of net profits in the quarter.That compared with US$20.8 million or six cents in the fourth quarter of 2011.Its adjusted net income was $17.6 million or five cents per share in the three months ended Dec. 31, down from $23.3 million or seven cents per share a year earlier.The adjusted net income excludes deferred income taxes, stock-based compensation, the write off of a property option and exploration costs, acquisition costs and foreign exchange gains or losses.B2Gold’s quarterly revenue from gold sales improved to US$70.7 million from US$66.9 million but its cash flow from operating activities declined to $31.1 million or eight cents per share from $35.4 million or 10 cents per share due to a higher tax rate in Nicaragua.In addition to higher taxes, B2Gold reported higher total costs for sales along with increased stock-based compensation payments and additional acquisition and writeoff expenses in the quarter.For the full year, the company reported net income of US$51.9 million or 13 cents per diluted share on gold revenue of US$$259.1 million, compared with net income of US$56.3 million or 16 cents on revenue US$225.4 million. by The Canadian Press Posted Mar 28, 2013 9:57 am MDT B2Gold Q4 net profit sliced almost in half; gold sales improve to US$70.7M AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email read more

The price of oil edged up to 10746 on Middle East North

The price of oil edged up to $107.46 on Middle East, North Africa turmoil AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email by The Associated Press Posted Aug 16, 2013 5:20 pm MDT The price of oil rose for the sixth consecutive day Friday on continuing violence in Egypt and supply disruptions elsewhere in the Middle East and North Africa.Benchmark West Texas Intermediate crude edged up 13 cents to US$107.46 a barrel and was up 1.4 per cent for the week.Brent crude, used to price oil imported by many U.S. refineries, rose 80 cents to US$110.40 per barrel for October delivery.Turmoil in the Middle East and North Africa has disrupted some production and exports, especially in Libya and Iraq. It has also raised the spectre of spreading violence that could block important supply routes.Violence in Egypt continued Friday as tens of thousands of Muslim Brotherhood supporters fought with armed civilians, police and troops in Cairo. At least 60 people were killed in fighting across the country, with nearly 700 having been killed since violence erupted Wednesday.Egypt is not a major oil exporter, but there is concern that an escalation in fighting could spread to neighbouring countries or disrupt the Suez Canal, a major trade route.Rising oil production in the U.S., Canada and elsewhere has helped keep the market supplied with oil, and global demand is rising only modestly. That has kept prices from rising even further amid the Middle Eastern violence, analysts say.In other energy futures trading, heating oil rose one cent to close at US$3.08 a U.S. gallon (3.79 litres), wholesale gasoline fell one cent to US$2.97 a gallon and natural gas fell five cents to $3.37 per 1,000 cubic feet.(TSX:ECA), (TSX:IMO), (TSX:SU), (TSX:HSE), (NYSE:BP), (NYSE:COP), (NYSE:XOM), (NYSE:CVX), (TSX:CNQ), (TSX:TLM), (TSX:COS.UN), (TSX:CVE) read more

Crude oil jumps 15 to US9480 a barrel on strong gasoline demand

by The Associated Press Posted Nov 6, 2013 2:50 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email NEW YORK, N.Y. – Oil rose 1.5 per cent Wednesday as the U.S. government reported a strong increase in demand for gasoline last week.Benchmark West Texas Intermediate crude for December delivery gained $1.43 to close at US$94.80 a barrel on the New York Mercantile Exchange. However, oil was still down about nine per cent since closing at US$104.10 on Oct 2.The government said gasoline supplies dropped by 3.8 million barrels last week, almost four times the decline analysts were expecting.For the four-week period ended Nov. 1, gasoline demand rose 5.4 per cent to an average of 9.1 million barrels per day. Demand for distillates, which includes diesel and heating oil, rose 8.2 per cent for the same period.Those figures overshadowed another increase in U.S. crude stockpiles. Oil supplies rose by 1.6 million barrels.Brent crude, the international benchmark, fell nine cents to US$105.24 a barrel on the ICE Futures exchange in London.In other energy futures trading on Nymex, wholesale gasoline added three cents to US$2.55 a U.S. gallon (3.79 litres), heating oil rose one cent to US$2.87 a gallon and natural gas gained three cents to US$3.50 per 1,000 cubic feet.(TSX:ECA), (TSX:IMO), (TSX:SU), (TSX:HSE), (NYSE:BP), (NYSE:COP), (NYSE:XOM), (NYSE:CVX), (TSX:CNQ), (TSX:TLM), (TSX:COS), (TSX:CVE) Crude oil jumps 1.5% to US$94.80 a barrel on strong gasoline demand read more

Starting Monday BC businesses will foot the bill for recycling costs

Starting Monday, B.C. businesses will foot the bill for recycling costs VANCOUVER – The B.C. government’s controversial new recycling program takes effect Monday, irking some local business owners who say that additional costs will drive up the price of consumer goods.The new regulations require that all businesses that supply packaging and printed paper to B.C. residential customers be responsible for collecting and recycling the material once customers are done with it.Anita Huberman, CEO of the Surrey Board of Trade, says this will create additional costs for businesses, which will pass the extra expenses onto consumers.“Producers will be adding costs to food, newspapers, and other things distributed to retailers, then retailers will extend their traditional markup to consumers,” wrote Huberman in an email. “This additional cost will make them less competitive with competitors from other provinces and countries.”“In Ontario, cardboard is being charged at eight cents a kilogram while in B.C. this program is at 29 cents a kilogram — this is huge,” she wrote.Huberman says that B.C.’s recycling fees should be reduced to match those in Ontario.However, the director of the non-profit organization overseeing the new recycling program on behalf of 940 companies says the increased costs from the new rules would only hurt small businesses, who are generally exempt from the new regulations anyway.“I think the exemptions that have been announced by the government address many of the concerns with respect to small business,” said Allan Langdon of Multi-Material BC in an interview.He says businesses that either make less than $1 million in sales, produce less than 1,000 kilograms of print and packaging or businesses that do not operate as a chain or franchise are exempt from the new program.“From our perspective that’s really taken away the impact on the kind of small businesses that maybe have had a problem with the administration or costs,” he said.Langdon says up to 3,000 corporations are affected by the new regulations and those companies who are not signed onto Multi-Material BC will have to co-ordinate their own recycling efforts.About 1.25 million households will be receiving service from the non-profit organization starting Monday, he said.In municipalities where there are already recycling trucks, Multi-Material BC has offered cash incentives to help foot the bill, while some areas that don’t have curbside service will be seeing pickups for the first time.Collection services for the North Okanagan, the Trail area, Rossland, the Castlegar area, Coquitlam, Anmore, Prince George and Quesnel will be phased in during the next few months starting Monday, Langdon said.For consumers who are already putting out their recycling bins, perhaps the most noticeable change will be that some municipalities will be asking their residents to separate glass from other recycled goods.Langley, Richmond and possibly Burnaby will implement separate glass collection bins, Langdon said.This will prevent glass from being shattered and contaminated, which ensures that it will get recycled, he said.The change is being implemented because Multi-Material BC is required to measure how much material is recycled — not just how much is picked up, he said.Note to readers: Minor edits by Steven Chua, The Canadian Press Posted May 18, 2014 12:43 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email read more