Sign of the Times: Yancoal Gets Few Takers FacebookTwitterLinkedInEmailPrint分享The Australian:Yancoal Australia’s $US2.35 billion ($3bn) equity raising has met with next to no interest from institutional and retail shareholders, leaving its underwriters and Chinese backers on the hook for almost the entire amount.Yancoal, which needed the cash to complete its acquisition of Rio Tinto’s Coal & Allied business in NSW, only attracted $US4 million worth of applications from its existing non-Chinese share register while institutional investors applied for just $US59m of the more than $US1.3bn in entitlements up for offer under a bookbuild at the weekend.The weak appetite means Yancoal’s existing major shareholder, Chinese state-owned group Yanzhou Coal Mining Company, will take up the full $US1bn in new shares to which it had committed while the bookbuild’s underwriters — China Shandong Investment, Cinda International and Glencore — will take up the remaining $US1.28bn.While there was an expectation going into the raising that Yancoal would have to rely on its underwriters for much of the funding, the response was nevertheless weaker than expected.The flat investor response to the raising has been blamed on a confluence of factors, including Yancoal’s poor record of performance in Australia (it has recorded four straight years of losses totalling more than $1.6bn), the dominant position held on Yancoal’s share register by Chinese interests, and the broader softening of investor interest in coal generally.The raising also took place at a time when many investors are tipping a fall in coal prices following a strong 12 months for the commodity.In one potential sign that the coal market may be nearing a peak, veteran coal investor Tony Haggarty yesterday revealed he had just sold almost 2 million shares in coal producer Whitehaven Coal for $6.4m, cashing out a portion of his holdings at a time when Whitehaven shares are at their highest level since 2013.Coal heavyweight Glencore, which is helping fund the Yancoal acquisition, yesterday announced it was putting up for sale its Rolleston thermal coalmine in Queensland. The sale process for the mine, which produced 13.3 million tonnes of saleable coal in 2016, is being handled by Merrill Lynch.Contango Asset Management managing director George Boubouras told The Australian the combination of Yancoal’s China-heavy share register and the wider shift away from coal among many investors were probably to blame for the weak uptake.More: Yancoal’s $3bn equity raising shunned by investors
Those fans who tossed the B.C. Lions onto the scrap pile back in July are going get a huge surprise waking up Monday morning after reading the morning website.Because surprise, surprise, the B.C. Lions are 2011 Grey Cup Champions.The Canadian Football League’s Most Outstanding Player, Travis Lulay, tossed consecutive second half touchdown passes to Kierrie Johnson and Arland Bruce sparking the Lions to a 34-23 victory over the Winnipeg Blue Bombers Sunday at B.C. Place in Vancouver.“It’s a championship game. You’ve got to keep the faith and this feels pretty sweet,” Lulay told TSN following the game after struggling before getting the job done.Lulay completed 21 of his 37 passes for 320 yards and two scores.The Lions, winning the sixth championship in franchise history, are the first team in CFL history to start the season with five straight losses and win the Grey Cup.“I told the guys to stay focused,” said Geroy Simon when asked about the 0-5 start.B.C. led 10-0 a field goal by Paul McCallum and touchdown by Andrew Harris.A single point along with a field goal by McCallum increased the lead to 14-0 before Winnipeg kicked two fields goals to make the score 14-6 at the half.The teams exchanged field goals before Lulay & Company went to work as the B.C. quarterback connected with Kierrie Johnson on a 66-yard TD pass.In the fourth quarter after Odell Willis muffed on a potential game-changing interception, the Lions engineered a nine-play 82-yard drive that ended in a six-yard TD pass to Arland Bruce.Winnipeg scored two late touchdowns before McCallum put the game away with a 34-yard field goal. Lulay revealed after the game he was playing with a bad groin injury suffered during the first quarter. The injury slowed Lulay’s ability to run during the game.The Lions win tied head coach Wally Buono with Don Matthews and Hugh Campbell with the most Grey Cup wins at five.B.C. running back Andrew Harris was named the Most Outstanding Canadian in the Grey Cup.There are four teams in CFL history to win a Grey Cup at home. The Lions have done it twice, also capturing the title in 1994.
ARCADIA, Calif. (March 12, 2016)–Halo Farms’ front-running Danzing Candy cruised to an impressive two length win under Mike Smith in Saturday’s Grade II, $400,000 San Felipe Stakes at Santa Anita. Trained by Clifford Sise, the lightly raced Kentucky-bred colt by Twirling Candy got 1 1/16 miles in 1:43.04 and picked up 50 Kentucky Derby qualifying points, assuring him of a berth in the Run for the Roses on May 7.“He warmed up great, he was on his toes,” said Smith. “Our game plan was to put him on the lead unless he didn’t jump out of there well. We didn’t want to experiment…I left there very aggressive and he didn’t get away with anything (slow fractions). If you go 22 on this track today, you’re smokin’. And for him to hold off the caliber of horses he held off, was very impressive.”Bred by Ted Aroney’s Halo Farms and owned by Halo Farms and Jim and Diane Bashor, Danzing Candy paid $13.00, $5.20 and $3.40. A maiden special weight winner two starts back on Dec. 26, Danzing Candy was a 5 ¾ length allowance winner here on Feb. 4 and thus picked up his third win from four starts. With the winner’s share of $240,000, he increased his earnings to $308,650.“I expected him to be on the lead,” said Sise. “We didn’t want to experiment in this race. Mike just said, ‘I’ll let him come out the first few jumps and if he’s there, he’s there. If somebody sends, he’ll sit second.“He (broke) much better today. He’s good now. We’ll stay for the Santa Anita Derby (Grade I, $1 million at 1 1/8 miles April 9). He’s three for three on this track. Why would we change now? I don’t see any reason to, but you never know. You’ve got to leave that up to the owners.”Ridden by Gary Stevens, favored Mor Spirit appeared to get a bit rank around the Club House turn, but settled readily down the backside when next to last going past the half mile pole. With a cue from Stevens, he picked it up between horses around the far turn, rallied well, while within himself for second money and galloped out on terms with the winner past the wire.Off at 8-5 in a field of six Derby hopefuls, Mor Spirit paid $3.40 and $2.20.“I’m very happy, because he was way too keen in the early part of the race, he was really fresh…” said Stevens. “He was super sharp. As I was coming into the lane, I knew I wasn’t going to catch the winner, but I knew we had to get some (Kentucky Derby) points. I like where we’re sitting for the Santa Anita Derby. I lost a battle today, but I like our position. Bob (Baffert) was happy, so I’m happy…He’ll settle a little better for me in the Santa Anita Derby.Exaggerator, who is trained by Keith Desormeaux and ridden by his brother, Kent, was content to lag early and picked it up in eye-catching fashion heading into the far turn as he skimmed the rail, but he flattened out late, finishing three quarters of length behind Mor Spirit.The second wagering choice at 2-1, Exaggerator paid $2.40 to show.With the winner getting 50 Kentucky Derby qualifying points, the second, third and fourth place finishers earned 20, 10 and five points respectively.Danzing Candy set fractions of 22.96, 46.11, 1:11.04 and 1:36.38 over a main track that although was listed as fast, had been dulled by heavy afternoon rains on Friday. 1-2-3 FINISHERS HEADED TO GRADE I, $1 MILLION SANTA ANITA DERBY ON APRIL 9
“He called me and he said: ‘Hey, man, the planet’s getting worse and I want to make another climate-change movie, and I want you to do it with me’” recalled Stevens, an actor and filmmaker whose past environmentally focused projects include “Mission Blue” and “Racing Extinction” and working as a producer on the Oscar-winning documentary “The Cove.”“He said: ‘Yeah, I’m willing to be in this one.’ And I think he regretted that for sure — at first. He wasn’t used to having the cameras in his face like that, and he was quite uncomfortable at times, not having lines, not playing a character — just being Leo.“He’s a wonderful person,” Stevens added. “(I said to him): ‘You’re the guy. If ever we can use a movie to move the needle, you’re the guy.’”The timing of the documentary’s release is no coincidence. The duo was determined to have it completed in advance of the looming U.S. election.“The Senate and the Congress, as you see in the film, is full of people on the payroll of the fossil fuel industry, and (who) are worried that they’re going to lose their seats if they push the climate agenda,” said Stevens.“We’re going to have some swing state screenings (and) get rid of these people if we can. It’s really time. It’s finally time that people wake up.”Stevens said he was haunted by images of burning forests in Indonesia, where palm oil is produced for use in a vast range of products including cosmetics, food and household items.“Very few people are profiting off of a huge part of the population being affected, and that’s kind of like a theme in climate change.”But Stevens remained buoyed by positive trends that have emerged, pointing to renewable energy becoming more affordable, U.S. President Barack Obama speaking out on climate change, as well as Pope Francis’s encyclical on the environment.“We’re not trying to preach to the converted. That wasn’t our interest. We want to make a cool film, a film that people really drink in.”BY Lauren La Rose – The Canadian Press Advertisement Login/Register With: DiCaprio is a producer on the film, which sees the actor travel to several continents and the Arctic, meeting with political and religious leaders, scientists and activists.The Oscar-winning actor has been a longtime advocate for environmental issues, and was designated a United Nations Messenger of Peace with a special focus on climate change in 2014. Still, Stevens said DiCaprio was initially hesitant to appear onscreen, despite his passion for the film and the cause. Facebook Advertisement Canada features prominently in Leonardo DiCaprio’s new climate-change documentary Before The Flood and director Fisher Stevens said he was “really horrified” by scenes in the oilsands of northeastern Alberta.“It does employ a lot of people,” said Stevens of the oil industry, during an interview at the Toronto International Film Festival, where Before the Flood had its world premiere. The documentary will be screened in 171 countries, in 45 languages, when it debuts on the National Geographic Channel on Sunday.“Look, we all want work, we all need jobs — God knows. And it would be great if it was like: ‘Now, we take all of these people and we replant all of that forest.’ Wouldn’t that be amazing?” Advertisement Twitter LEAVE A REPLY Cancel replyLog in to leave a comment