Finance

Galiano Gold Inc (GAU) Q1 2025 Earnings Call Highlights: Strong Financial Position and …

Published

4 weeks ago

May 16, 2025

Press Room

Galiano Gold Inc (GAU) Q1 2025 Earnings Call Highlights: Strong Financial Position and …

Release Date: May 15, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Galiano Gold Inc (GAU) maintains a robust financial position with $106 million in cash and zero debt.
The company achieved significant exploration success at Abore, identifying a promising high-grade zone beneath the main pit.
A 75% increase in gold production is projected by 2026, indicating strong future growth potential.
The secondary crusher project is on track for completion in Q3 2025, which is expected to enhance mill throughput.
Operating costs are being well managed, with unit costs for mining at Abore and Assassi in line with expectations.

The company experienced two lost time injuries (LTIs) during the quarter, reflecting a need for improved safety measures.
An unscheduled two-week mill shutdown due to repairs reduced production by approximately 5,000 ounces.
Net earnings were negatively affected by fair value adjustments to the hedge book, resulting in a net loss of $29 million.
The impact of high gold prices and increased government levies could raise all-in sustaining costs (ASIC) by up to $55 per ounce.
Production figures for Q1 2025 were lower than expected, moving towards the lower end of guidance for the year.

Q: Can you walk us through your intermediate and longer-term expectations for drilling, especially in the south pit? A: Unidentified_5 (Exploration VP): We focused on the south pit to confirm the robustness of the high-grade zone, which exceeded our expectations. The strike length expanded from 90m to 180m. We discovered a new high-grade zone below the reserve pit, which was unexpected. We plan to test deeper targets along the ore body and explore both open pit and underground mining scenarios.

Q: What happened with the cost of the secondary crusher equipment versus expectations, and what downtime should we expect for the install? A: Unidentified_4 (CFO): The secondary crusher project remains on budget, with most equipment costs paid in installments. We expect minimal downtime for installation, as most pre-works can be done while the plant is running. The shutdown for tie-in will be brief, and we plan to conduct other maintenance simultaneously.

Q: Should we model any significant impact from the crusher installation shutdown? A: Unidentified_3 (COO): We don’t expect a significant impact from the shutdown. We have contingencies in place, and the production forecasts already account for this downtime.

Related Topics:gold prices secondary crusher underground mining

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Finance

Larry Fink: ‘I’m not planning to leave BlackRock anytime soon’

Published

8 hours ago

June 12, 2025

Press Room

Larry Fink: ‘I’m not planning to leave BlackRock anytime soon’

BlackRock (BLK) CEO Larry Fink said Thursday that he is not planning to leave the company “anytime soon,” offering no new clarity on who may ultimately succeed him as boss of the world’s largest money manager.

For some time, investors have wondered when the 72-year-old Fink is going to step down. He co-founded the firm in 1988 and built it into a financial giant that now manages more than $11 trillion.

Some potential successors have exited the firm recently, raising more questions about succession.

They include Mark Wiedman, who had been head of BlackRock’s global client business and now has a top job at PNC Financial Services Group (PNC). Another recent high-profile exit was Salim Ramji, who is now the chief executive of BlackRock rival Vanguard Group.

Larry Fink, chairman and CEO of BlackRock. (Jamie McCarthy/Getty Images) · Jamie McCarthy via Getty Images

“I’m not planning to leave BlackRock anytime soon,” Fink told an audience at the firm’s annual investor day in New York City, “so you don’t have to have those questions later on.”

But he added that “a top priority” for himself and BlackRock president Rob Kapito is “working with the board” to make sure “we’re developing the next generation of leaders for BlackRock.”

BlackRock under Fink is in the middle of a significant shift toward private markets.

Last year, the company spent more than $28 billion on related acquisitions, including purchases of infrastructure investment firm Global Infrastructure Partners, private markets data provider Preqin, and private credit firm HPS Investment Partners.

The BlackRock logo is pictured outside its headquarters in Manhattan. (Reuters/Carlo Allegri/File Photo) · REUTERS / Reuters

Given that push into private markets, the question of who might lead the world’s biggest asset manager next is rising in importance, Cathy Seifert, a CFRA analyst covering BlackRock, told Yahoo Finance earlier this week.

BlackRock’s succession plans “need to be a little more buttoned up, particularly in light of some of the shifts going on at the firm,” Seifert said.

Fink and BlackRock outlined some ambitious goals for the firm over the next five years. By 2030, the firm aims to grow its revenue to over $35 billion and double both its operating income and market capitalization.

Its stock was slightly down as of Thursday early afternoon. It’s up 29% for the past 12 months.

“We know you’re looking to see if we could execute,” Fink told investors in reference to the new acquisitions.

“I believe it’s very achievable,” he added.

David Hollerith is a senior reporter for Yahoo Finance covering banking, crypto, and other areas in finance.

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Finance

Arra Finance To Acquire Crescent Auto Finance, Rapidly Scaling Its Subprime Auto Finance Platform

Published

1 day ago

June 11, 2025

Press Room

Arra Finance To Acquire Crescent Auto Finance, Rapidly Scaling Its Subprime Auto Finance Platform

Arra Finance LLC

Deal to quadruple auto finance origination capacity and reduce credit application response time to a matter of seconds

IRVING, Texas, June 11, 2025 (GLOBE NEWSWIRE) — Arra Finance, LLC (“Arra” or the “Company”), a subprime indirect auto finance company, today announced that it has entered into a definitive agreement to acquire the auto financing division of Crescent Bank (“Crescent”), a New Orleans-based FDIC insured bank with approximately $1 billion in assets that has provided nationwide indirect auto lending since 1991. The deal accelerates the rapid expansion of Arra’s platform, enhancing its technology stack and analytics capacity well ahead of growth expectations. Crescent will retain its branch and online retail banking platforms, as well as its commercial lending program, and Arra will become the servicer for Crescent’s $815 million originated auto loan portfolio. The transaction is expected to close in 3Q 2025. Financial terms were not disclosed.

As a well-established operator in the subprime auto financing space, Crescent has originated upwards of $5.3 billion in auto loans nationwide over its 30-year history and $652 million in the last two years. This acquisition brings Crescent’s e-contracting, internal loan servicing and accelerated auto-decision capabilities to the Arra platform, alongside advanced analytics and additional fraud protection tools in underwriting and funding.

With financial backing from Obra Capital (“Obra”), Arra now has the operational bandwidth and capital structure necessary to provide a comprehensive suite of financing solutions to auto dealers across the country. Arra expects to rapidly scale delivery of customer financing solutions to dealers by leveraging Crescent’s existing operations, with a significantly increased auto finance origination capacity, larger dealer base and the ability to respond to credit applications within seconds of submission.

As part of the acquisition, Arra will welcome approximately 180 new employees from Crescent, expanding Arra’s best-in-class team by a factor of six. This includes 24 new sales team members, who will support the deployment of Arra’s capital base and provide a consistent touchpoint for new and existing dealer customers alike. The new additions will continue to be primarily based in Carrollton, Texas, supporting a seamless operational integration while opening new pathways for opportunity, as enabled by Arra’s access to asset-backed financing solutions.

“With today’s announcement, we have rapidly advanced Arra’s growth trajectory, substantially improving our ability to be the premier financing partner for franchise and select independent dealers,” said Kenn Wardle, Chief Executive Officer of Arra Finance. “After only six months in market, we are on track to outpace our growth targets by a number of years, and we have developed the platform capabilities necessary to deliver responses to credit applications in a matter of seconds. I look forward to welcoming our new team members as we bring our combined offerings to market and continue to streamline the car buying experience for dealers and consumers across the country.”

Gary Solomon Sr., Chairman of Crescent Bank praised the transaction, stating: “Partnering with Arra and Obra has ensured the talent, momentum and reputation Crescent has garnered over the years will continue to support the auto industry, as Crescent Bank shifts its focus to our core retail banking business.” Crescent Bank has significantly grown its online banking presence nationwide in recent years, particularly in its offering of Certificates of Deposits. Mr. Solomon added, “This is a pivotal moment for Crescent Bank, as we refocus our investment strategy in support of our local New Orleans area community and nationwide customers alike.”

“Today’s announcement is a major growth milestone for Arra, and a testament to the opportunity in the auto finance market,” added Blair Wallace, President and CEO of Obra. “With the capital structure and flexibility provided by Obra’s insurance company balance sheets, Arra has taken decisive and aggressive steps to meet the needs of dealers across the country and become a leading player in the subprime space. The business is capitalized for success in the long term, and we look forward to seeing what’s next.”

About Arra Finance
Arra Finance is a subprime indirect auto finance company that purchases and services retail installment contracts originated by U.S. automobile dealers. Arra offers fast, simplified solutions and options for dealers. The company’s cutting-edge auto finance platform provides more than 1,200 franchise and independent dealerships across 15 states (with planned business expansion to dealerships in 37 states) with auto financing solutions for used car buyers. Its scalable origination system and data warehouse provide dealers with access to finance solutions and enables them to facilitate auto sales for the dealership’s customers. For more information about Arra Finance, please visit www.arrafinance.com.

About Crescent Bank
Crescent Bank is a Louisiana chartered, FDIC insured bank which has served the New Orleans area community since 1991 providing retail banking services and direct lending to businesses and consumers. Shortly after its founding, Crescent Bank began to open loan production offices throughout Louisiana to provide auto loans to consumers who were not being served by traditional lending institutions. As the bank succeeded and grew, its geographical lending footprint expanded nationwide. In recent years it has further expanded its retail operations to include offering certificates of deposits to consumers and investors in all states.

About Obra Capital
Obra is a specialized alternative asset management firm with approximately $5.8 billion in capital under management as of May 31, 2025. Obra provides investment products and solutions across insurance, multi-sector credit, asset-based finance and longevity investment strategies. Obra aims to generate long-term value and attractive returns for investors through a variety of funds and separate accounts. With capabilities in investing, originating, structuring and servicing, Obra strives to provide differentiated investment opportunities and capital solutions for investors worldwide. For more information about Obra and its registered investment advisors, please visit www.obra.com.

Media Contact:
Dan Gagnier
Gagnier Communications
Obra@gagnierfc.com
646-569-5897

Finance

Oracle earnings, May CPI, mortgage data: What to Watch

Published

2 days ago

June 10, 2025

Press Room

Oracle earnings, May CPI, mortgage data: What to Watch

00:00:06 Speaker A

All right. Time now for to watch Wednesday, June 11th. We’ll start off on the earnings front here. We’re going to be getting some big names tomorrow. That will include Oracle, Chewy, and Victoria’s Secret. Oracle, by the way, announced some results for the fourth quarter after the market close. And it was expecting Oracle’s cloud unit to grow faster than expected, possibly more than 54% this quarter based on results from other names in the space, such as Microsoft and Google.

00:00:38 Speaker B

And taking a look at the economy, we’ll get fresh inflation data coming out in the morning with the Consumer Price Index, that’s CPI. Economists forecast total CPI will hold steady at 0.2%, while core CPI could tick up to 0.3% on a month over month basis. On a year over year basis, total and core CPI expected to rise to 2.5 and 2.8%, respectively.

00:01:08 Speaker A

And moving over to housing, weekly mortgage rate application data, that’s coming out in the morning. Last week’s number, decreasing 3.9% from the week prior, marking the third consecutive week of declines.