CORAL SPRINGS, Florida, April 19, 2013 /PRNewswire/ --
FinancialNewsMedia.com issues market news report for today's Active Energy/Mining Companies: New Colombia Resources, Inc.(OTCQB: NEWC), Peabody Energy Corp. (NYSE: BTU), Walter Energy, Inc. (NYSE: WLT), Chesapeake Energy Corporation (NYSE: CHK) and Westport Innovations Inc. (NASDAQ: WPRT)
New Colombia Resources, Inc. (OTCQB: NEWC) recently engaged SGS Colombia S.A., considered one of the world's leading inspection, verification, testing and certification company for Metallurgical Testing and Failure Analysis. SGS is to begin a N.I. 43-101 compliant drill program. The N.I. 43-101 Technical Report is an international standard used for the public disclosure of information relating to mineral properties; it is broadly comparable to the Joint Ore Reserves Committee Code (JORC Code) which regulates the publication of mineral exploration reports. At the conclusion of the program, New Colombia will hire an international drilling company to drill the holes according to the plan. SGS will take custody of the core samples back to their laboratory in Barranquilla, Colombia and provide drill hole database management services. Other services SGS will provide include a Topographic Survey and Geological Mapping. Once the drill holes samples have been analyzed, a Qualified Person (QP), as defined by the National Instrument 43-101, will provide a technical report. The drill hole results will also allow the company to complete and submit their Environmental Impact Study. "We are aggressively moving forward to get into production as soon as possible," stated John Campo, President of New Colombia Resources.
Peabody Energy (NYSE: BTU) reported first quarter 2013 revenues of $1.75 billion, leading to Adjusted EBITDA of $280.1 million. Loss from Continuing Operations totaled ($10.3 million) with Diluted and Adjusted Diluted Loss Per Share from Continuing Operations of ($0.05). "Peabody's first quarter results reflect the success of strong cost containment programs across the global platform," said Peabody Energy Chairman and Chief Executive Officer Gregory H. Boyce. "We continue to aggressively reduce costs, exercise capital discipline, maximize cash flows and reduce debt. Within global markets, U.S. coal demand is rebounding, Chinese and Indian coal imports are rising, and additional production rationalization and project delays are taking place." To read the full release and report details please go to http://finance.yahoo.com/news/peabody-energy-announces-results-quarter-120000678.html
Walter Energy, Inc. (NYSE: WLT) News: Audley Capital Advisors LLP (including certain related funds and investment vehicles, "Audley Capital") reiterated the overall strength of its five highly-qualified and experienced nominees for election to the Board of Directors of Walter Energy, Inc. ("Walter Energy" or "the Company") at the Company's upcoming 2013 Annual Meeting of Stockholders on April 25, 2013. Julian Treger, Managing Partner of Audley Capital Advisors, said, "We believe that the Board has been dominated for too long by a clique of long-time directors who have not worked in the best interest of stockholders. At this most critical time in Walter Energy's history, we believe that there is a substantial lack of mining and public market experience among the current Board members. With a significant leveraged bet on met coal price recovery, we think the Board has put the Company in an extremely precarious position. Met coal pricing continues to be under pressure and the Company may be forced later this year to seek working capital. Left to what we see as the continued poor decision-making by the current Board, we believe stockholders will pay the price."
Chesapeake Energy Corporation (NYSE: CHK) announced the expiration and final results of its previously announced cash tender offers (collectively the "Tender Offers" and each a "Tender Offer") for any and all of its 7.625% Senior Notes due 2013 (the "2013 Notes") and its 6.875% Senior Notes due 2018 (the "2018 Notes" and, together with the 2013 Notes, the "Notes"). The tender offers expired at 11:59 p.m., New York City time, on April 12, 2013 (the "Expiration Date"). The full terms and conditions of the Tender Offers are set forth in the Offer to Purchase and the related Letter of Transmittal, each dated March 18, 2013. As previously announced, on April 1, 2013 Chesapeake purchased $216,187,000 principal amount of its outstanding 2013 Notes and $376,595,000 principal amount of its outstanding 2018 Notes validly tendered and not validly withdrawn as of 5:00 P.M., New York City time, on March 28, 2013 (such date and time, the "Early Tender Date"). Chesapeake has received and accepted for purchase an additional $619,000 principal amount of its outstanding 2013 Notes and $415,000 principal amount of its outstanding 2018 Notes validly tendered subsequent to the Early Tender Date and prior to the Expiration Date.
Westport Innovations Inc. (NASDAQ: WPRT), the global leader in natural gas engines, announced recently that shareholders have approved all resolutions presented at its Annual and Special Meeting held on April 11, 2013 , including the election of directors of Westport for the next year; the amendment of the Corporation's Omnibus Incentive Plan; and the appointment of auditors for Westport for the next year and the authorization of the directors to fix their remuneration. The returning board members re-elected are Warren J. Baker (86.76% in favour), John A. Beaulieu (97.81% in favour), M.A. (Jill) Bodkin (97.79% in favour), David R. Demers (97.95% in favour), Nancy S. Gougarty (97.87% in favour), Philip B. Hodge (97.92% in favour), Dezsö J. Horváth (97.85% in favour), Douglas R. King (97.88% in favour), and Gottfried (Guff) Muench (97.80% in favour). Albert T. Maringer did not stand for re-election to the Board of Directors. Mr. Maringer will join the Westport Advisory Board effective immediately.
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