Down 10% in 2 days, this tyre stock may remain under pressure amid capex plans
Investors are however skittish about the company’s decision to increase the capacity of carbon black a key ingredient for tyre making.
Synopsis
The tyre capacity expansion, which will be completed by the second half of FY23 is aimed at catering higher demand and has an estimated payback period of four years at the profit before tax level.
ET Intelligence Group: Balkrishna Industries’ decision to increase the extent of carbon black supply to third parties by expanding the existing plant capacity has not gone well with investors given the lower margin profile of the activity compared with the company’s overall operating margin. The stock of the off-highway tyre maker has lost 10% in the two trading sessions after the announcement on Monday evening. Its premium valuation over peers
SilverCrest Announces Positive Feasibility Study Results and Technical Report Filing for the Las Chispas Project
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TSX: SIL | NYSE American: SILV
VANCOUVER, BC, Feb. 2, 2021 /PRNewswire/ - SilverCrest Metals Inc. ( SilverCrest or the Company ) is pleased to announce positive results from a Feasibility Study (the Feasibility Study ) for the Las Chispas Project ( Las Chispas or the Project ) in Sonora, Mexico. Details of the Feasibility Study, including an updated Mineral Resource Estimate and an initial Mineral Reserve Estimate, are provided in a technical report filed under the Company s SEDAR profile entitled, NI 43-101 Technical Report & Feasibility Study on the Las Chispas Project with an effective date of January 4, 2021 (the Technical Report ). The Technical Report has been prepared by Ausenco Engineering Canada Inc ( Ausenco ) with the assistance of several other independent engineering companies and consultants.