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NoneGus Malzahn is resigning as Central Florida's head coach to become Florida State 's offensive coordinator, a person familiar with the hire told The Associated Press on Saturday. Read this article for free: Already have an account? To continue reading, please subscribe: * Gus Malzahn is resigning as Central Florida's head coach to become Florida State 's offensive coordinator, a person familiar with the hire told The Associated Press on Saturday. Read unlimited articles for free today: Already have an account? Gus Malzahn is resigning as Central Florida’s head coach to become Florida State ‘s offensive coordinator, a person familiar with the hire told The Associated Press on Saturday. The person spoke on condition of anonymity because the Seminoles have not confirmed Malzahn’s move, which is pending a state background check. ESPN first reported the decision. The Knights made official that Malzahn is leaving in a statement released a day after UCF (4-8) concluded its season with a 28-14 loss to Utah. “We would like to thank Coach Malzahn for his contributions to our football program over the past four seasons, including our transition into the Big 12 Conference,” the school said. “We appreciate his professionalism and dedication to our student-athletes throughout his tenure at UCF and wish he and his wife, Kristi, the very best in their future endeavors.” Malzahn finished with a 28-24 mark in four years at UCF, the last two ending with losing records after joining the Big 12. He coached at Auburn for eight seasons before being fired in 2020. Malzahn replaces offensive coordinator/offensive line coach Alex Atkins, who was fired Nov. 10 following a 52-3 loss at Notre Dame. The Seminoles rank 131st out of 134 in total offense and scoring offense, averaging 15.8 points a game heading into Saturday night’s rivalry game against Florida. The Seminoles (2-9) have dropped significantly since going 13-1 last season and winning the Atlantic Coast Conference championship. The Knights, meanwhile, struggled mightily in Malzahn’s fourth season — most of it because of quarterback issues. Four players took snaps from center as the Knights finished 2-7 in conference play. It was the program’s worst record since going 0-12 in former coach George O’Leary’s final season in 2015. Florida State coach Mike Norvell fired Atkins, defensive coordinator Adam Fuller and receivers coach Ron Dugans amid the Seminoles’ season-long skid. Winnipeg Jets Game Days On Winnipeg Jets game days, hockey writers Mike McIntyre and Ken Wiebe send news, notes and quotes from the morning skate, as well as injury updates and lineup decisions. Arrives a few hours prior to puck drop. ___ Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here. AP college football: https://apnews.com/hub/ap-top-25-college-football-poll and https://apnews.com/hub/college-football Advertisement Advertisement
ATLANTA (AP) — The Atlanta Falcons are back in first place in the NFC South and again in control of their playoff hopes. Rookie quarterback Michael Penix Jr. showed the poise in his first NFL start the Falcons will need to take advantage of their opportunity to end a six-year playoff drought. Powered by a big-play defense that produced two pick-6s, a solid starting debut by Penix and two rushing touchdowns by Bijan Robinson, the Falcons cruised past the hapless New York Giants 34-7 on Sunday. On Sunday night, the Falcons (8-7) received the assist they needed when Tampa Bay lost at Dallas . Because the Falcons swept the Buccaneers, they hold the tiebreaker advantage if they remain tied atop the division. The Falcons have games remaining at Washington on Sunday night and at home against Carolina to close the regular season. If Atlanta wins both games, it would win the division and have a home playoff game. The Falcons are assured of their best record since a 10-6 finish under coach Dan Quinn in 2017, their most recent playoff season. Quinn is in his first season as Washington's coach and has led the Commanders (10-5) to three straight wins, including Sunday's 36-33 victory over Philadelphia. Penix, the No. 8 overall pick in this year's NFL draft, was promoted after coach Raheem Morris benched Kirk Cousins. Penix completed 18 of 27 passes for 202 yards with one interception on a pass that should have been caught by tight end Kyle Pitts. Penix is not a dual-threat quarterback, but he showed the ability to escape pressure in the pocket that Cousins lacks following his 2023 Achilles tendon injury. The left-hander's superior arm strength also was immediately obvious. Robinson's production provided a safety net for the offense which helped make for a smooth transition to Penix. Robinson had scoring runs of 2 and 4 yards. Robinson has rushed for 10 touchdowns this season. He's the first Atlanta player with 10 more more rushing touchdowns since Devonta Freeman during the 2016 Super Bowl season. Robinson ran for 94 yards on 22 carries and had 103 yards from scrimmage. His 11th game this season with at least 100 yards from scrimmage are the most for the Falcons since Warrick Dunn's 11 in 2005. Morris said Robinson deserves to be considered with Philadelphia's Saquon Barkley in discussions regarding the league's top running backs. “Bijan has been outstanding all year in the things that he’s able to do," Morris said. “He’s special. If it wasn’t for this other guy out in Philly, he’d get a lot more recognition across the league. But that guy is having a special year, and Bijan’s not far behind him.” With kicker Younghoe Koo on injured reserve and watching from the sideline, Riley Patterson was wide left on his first field-goal attempt from 43 yards. Patterson rebounded to make attempts from 52 and 37 yards. Jessie Bates III and Matthew Judon each had a pick-6 to highlight a day of big plays for the defense. Arnold Ebiketie had his fifth sack of the season and added a fumble recovery. Kaden Ellis added a strip-sack. He also has five sacks this season, including sacks in four consecutive games. It is the longest streak for Atlanta since Patrick Kerney had sacks in five straight games in 2001. There was some thought that a change at quarterback could be good news for Pitts, who often seemed to be missing in action with Cousins running the offense. After all, a tight end often is a natural target for quick passes from a rookie making his first start. Instead, Pitts had a poor start to the Penix era when he bobbled his first pass from the left-hander, creating an interception by cornerback Cor’Dale Flott. Pitts caught a 7-yard pass on his only other target. For the season, Pitts has 41 catches for 543 yards and three touchdowns. There will be much interest in this week's injury report after WR Drake London (hamstring) was hurt in the second half. Morris provided an optimistic postgame outlook on London. CB Antonio Hamilton (quad) did not return after leaving the game in the first half. 8: Bates has four interceptions and four forced fumbles. His combined eight forced turnovers lead the NFL. The game against Jayden Daniels and the Commanders is a reminder Penix was only the fourth of six quarterbacks selected in the first round of the NFL draft. Daniels, from LSU, was the No. 2 overall pick behind Caleb Williams by Chicago. AP NFL: https://apnews.com/hub/nflIntech Investment Management LLC decreased its holdings in shares of MSA Safety Incorporated ( NYSE:MSA – Free Report ) by 39.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,508 shares of the industrial products company’s stock after selling 2,977 shares during the quarter. Intech Investment Management LLC’s holdings in MSA Safety were worth $799,000 as of its most recent SEC filing. A number of other hedge funds have also modified their holdings of the business. GAMMA Investing LLC boosted its position in shares of MSA Safety by 198.8% during the 2nd quarter. GAMMA Investing LLC now owns 245 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 163 shares during the last quarter. Blue Trust Inc. boosted its holdings in MSA Safety by 486.0% in the 3rd quarter. Blue Trust Inc. now owns 252 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 209 shares during the last quarter. Covestor Ltd boosted its holdings in MSA Safety by 985.1% in the 3rd quarter. Covestor Ltd now owns 803 shares of the industrial products company’s stock valued at $143,000 after purchasing an additional 729 shares during the last quarter. Kowal Investment Group LLC acquired a new stake in shares of MSA Safety during the 2nd quarter worth approximately $204,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of MSA Safety during the 2nd quarter worth approximately $206,000. 92.51% of the stock is currently owned by institutional investors and hedge funds. MSA Safety Trading Down 0.3 % NYSE MSA opened at $173.80 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.68 and a quick ratio of 1.56. The stock has a market capitalization of $6.83 billion, a P/E ratio of 25.12 and a beta of 0.99. The firm’s 50-day moving average is $172.33 and its two-hundred day moving average is $179.03. MSA Safety Incorporated has a 12 month low of $160.02 and a 12 month high of $200.60. MSA Safety Announces Dividend The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Friday, November 15th. MSA Safety’s dividend payout ratio (DPR) is 29.48%. Wall Street Analysts Forecast Growth Separately, B. Riley started coverage on MSA Safety in a research report on Tuesday, November 5th. They issued a “buy” rating and a $200.00 price objective for the company. Read Our Latest Report on MSA Safety MSA Safety Company Profile ( Free Report ) MSA Safety Incorporated develops, manufactures, and supplies safety products and technology solutions that protect people and facility infrastructures in the fire service, energy, utility, construction, and industrial manufacturing applications, as well as heating, ventilation, air conditioning, and refrigeration industries worldwide. Further Reading Five stocks we like better than MSA Safety The Significance of Brokerage Rankings in Stock Selection The Latest 13F Filings Are In: See Where Big Money Is Flowing Best ESG Stocks: 11 Best Stocks for ESG Investing 3 Penny Stocks Ready to Break Out in 2025 The Significance of a Trillion-Dollar Market Cap Goes Beyond a Number FMC, Mosaic, Nutrien: Top Agricultural Stocks With Big Potential Receive News & Ratings for MSA Safety Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MSA Safety and related companies with MarketBeat.com's FREE daily email newsletter .
The MLB Draft Lottery has generated some incredible results for the league. The completely unpredictable process allowed teams like the Cleveland Guardians and Cincinnati Reds to enter the lottery in 2024 despite relatively respectable seasons. Nonetheless, the anti-tanking process has made for some interesting results. Thanks to the St. Louis Cardinals and Seattle Mariners jumping up into the lottery, the Chicago Cubs fell from their original spot. Beginning the evening with the highest likelihood of remaining at their 14th pick, the Cubs fell back three spots with teams like the Oakland Athletics and Chicago White Sox also jumping up into the top 12 following horrific seasons. The results for the top 18 picks are as follows: MLB Draft Lottery 2025 Results 18 Arizona Diamondbacks (16, 0.27%) 17 Chicago Cubs (14, 0.68%) 16 Minnesota Twins (12, 1.09%) 15 Boston Red Sox (11, 1.22%) 14 Tampa Bay Rays (10, 1.50%) 13 San Francisco Giants (9, 1.90%) 12 Texas Rangers (8, 2.45%) 11 Oakland Athletics (ineligible) 10 Chicago White Sox (ineligible) 9 Cincinnati Reds (7, 3.67%) 8 Toronto Blue Jays (5, 7.48%) 7 Miami Marlins (1-T, 22.45%) 6 Pittsburgh Pirates (6, 5.31%) 5 St. Louis Cardinals (13, 0.82%) 4 Colorado Rockies (1-T, 22.45%) 3 Seattle Mariners (15, 0.53%) 2 Los Angeles Angels (3, 17.96%) 1 Washington Nationals (4, 10.20%) Although the Cubs fell, they're still in position to add another impact player. In 2023, the Cubs landed top prospect Matt Shaw at the 13th spot and in 2024 landed Cam Smith, another top-10 prospect, with the 14th overall selection . Perhaps the Cubs' front office can channel some of that luck again and find another impact player at the 17th spot. The 2025 MLB Draft will take place July 13-15 from Atlanta, home of the 2025 MLB All-Star Game. This article first appeared on On Tap Sports Net and was syndicated with permission.
Movie Review: Nicole Kidman commands the erotic office drama 'Babygirl'ORCHARD PARK — Kyle Juszczyk was inches from the goal line. Matt Milano’s arms were wrapped around his waist, but his legs were still pumping. And then Taylor Rapp made a quick right jab at the ball, jarring it from Juszczyk’s grasp as it rolled to Christian Benford’s waiting hands. Juszczyk’s fumble came on the first drive of the second half with the San Francisco 49ers trailing 21-3. But the 49ers moved the ball during the first half, started the second with a 60-yard kickoff return and could sniff the end zone. Instead they came away with nothing and lost 35-10. It wasn’t a turnover, Buffalo Bills defensive coordinator Bobby Babich insists. It was a takeaway and the Bills have created one in every game this season, seemingly always at the right moment. The Bills are second in takeaways (one behind the Pittsburgh Steelers) and 11 of their 24 forced turnovers have come on their side of the field. It might seem like fool’s gold, luck or a dangerous way to play. But in a flukey statistic, the Bills are consistently among the NFL leaders under coach Sean McDermott. In fact, the Bills have 212 takeaways since 2017 and no other team in the league has 200. The Bills have finished in the top-10 in takeaways each year since 2018, finishing in the top-four since 2021. Meanwhile, Buffalo’s 130 interceptions since 2017 are one behind the New England Patriots, while finishing no worse than eighth since McDermott took over. “You get what you emphasize,” Babich said. “... I think what happens is kind of when you walk in this door, that standard is kind of like a cloud just sitting over the top of us of, they know, even in practice, as simple as it is, if we don’t take the ball away, we make sure we understand that that’s not good enough.” The #Bills won their fifth AFC East championship in a row, while the #Sabres followed three wins with four losses to remain predictably unpredictable. @billhoppe.bsky.social dig into it all. fireside.fm/episode/sMvb... [image or embed] Emphasis or not, it’s up to the players to force turnovers and a large piece of that comes down to the type of players the Bills place in their defense. Both McDermott and general manager Brandon Beane have spoken at length about finding football players with instincts rather than eye-popping workout results. When the Bills can’t draft those players, they find them in free agency or in the draft. Rapp had 10 takeaways in four seasons with the Los Angeles Rams, while cornerback Rasul Douglas had 11 in the 2 1⁄2 seasons with the Green Bay Packers before being traded to the Bills last season. There are some instincts that cannot be taught, but the Bills have been able to develop and strengthen instincts for players who are in the system for a longer period of time. The Bills teach players to be aware of the ball, to not just make a tackle, but swipe at the ball while doing so. In a scenario like Rapp’s forced fumble, the Bills teach players that the first man’s responsibility is to make a tackle and the second man goes for the ball. “I’d say for me, like, as far as, like, my mind being on the ball more often than it was when I was a younger player,” said Bills cornerback Taron Johnson, who has four forced fumbles in the last two seasons after recording four in his first five years combined. “So I’m looking for opportunities, more opportunities to take the ball away than I was when I was younger.” Turnover consistency has been steady despite the Bills slightly tweaking their defensive philosophy in recent years. During McDermott’s first five seasons, the Bills blitzed on more than 30% of passing plays and that number has dropped to 21.5% over the last three seasons, including 17.5% this year under Babich, the third-lowest rate in the league. Early in McDermott’s tenure, the Bills were one of the best teams in the league at disguising coverages, changing what the quarterback was seeing pre-snap compared to when he actually had the ball. They still do their share of disguising, but now the Bills try to attack the quarterback with four rushers and play a soft zone in the secondary until opponents cross midfield. “We always talk about rush and coverage working together,” Bills linebacker Terrel Bernard told GNN Sports. “So we do our part on the back end of disguising the picture or studying routes and understanding concepts that makes them hold it a little bit, which in turn gives the D-line a better chance to get back there and affect them. When that happens, then the ball comes to us.” If the Bills can affect the quarterback with four rushers, not only can they prevent more big plays, but more areas in the secondary are covered. But it’s not a simplistic defense, in fact, it’s one of the most complex in the NFL . Being comfortable with the different communications and disguises takes time. The Bills had the same safety pairing for most of McDermott’s first seven seasons and the system has largely been the same for his entire run. Even without Jordan Poyer and Micah Hyde (until Wednesday ) the Bills still had plenty of experience on defense. Fifteen players have been with the Bills at least three seasons, with eight having at least four. “The more comfortable you are in the system, the better you can disguise because you know your issues in certain defenses and certain coverages,” said Bills practice squad quarterback Mike White, who played against the Bills for three seasons with the Dolphins and Jets. “But it’s interesting. You know what they’re going to play, they know you know what they’re going to play, but they still do a good job of disguising and get you to just second-guess for a minute.” It’s a brand of defense many teams have adopted in the NFL, which is why rushing yards are up and passing yards are down. The Bills have given up the fewest 30-yard passes (79) and the fewest passes of 50 yards or more (14) since McDermott became coach. “That’s part of our philosophy and who we are,” said Bernard, who has nine takeaways in 26 games as a starter. “I think that standard has just been set since before I got here. So buying into that and believing that and I think everybody on this defense believes in that.” NOTES: WR Keon Coleman (wrist) and S Taylor Rapp (neck/shoulder) wore red non-contact jerseys and were limited in practice Thursday. ... TE Dalton Kincaid (knee), TE Quintin Morris (shoulder/groin) and WR Curtis Samuel (foot) were also limited.
Harris: Fine Gael ‘will gain seats’ amid further fragmentation of Irish politicsVandals burn a car and spray graffiti in latest antisemitic attack in Sydney
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Movie Review: Nicole Kidman commands the erotic office drama 'Babygirl'DALLAS — The New York Yankees, wasting no time shrugging off the disappointment of Juan Soto’s defection , went shopping again, agreeing with left-handed starter Max Fried to an eight-year, $218 million contract, a person with direct knowledge of the contract told USA TODAY Sports. The person spoke on the condition of anonymity because the deal won’t become official until Fried passes his physical. The deal, which includes no deferrals or opt-outs, is the richest contract ever given to a left-handed pitcher, and the fourth-largest among all pitchers in history. The Yankees, who were left at the altar Sunday when Soto rejected their 16-year, $760 million contract and instead took $5 million more and a year less from the Mets, acted like they weren’t that all broken-hearted. They knew they had plenty of holes to fill and if they had signed Soto, they would have had no financial flexibility to fill their other needs. Follow every MLB game: Latest MLB scores, stats, schedules and standings. Now, they have one of the best lefties in baseball to go with ace Gerrit Cole, and have plenty of money left to find a third baseman, center fielder, first baseman and a reliever or too. The Yankees, according to one official, have expressed interest in potentially trading for St. Louis Cardinals third baseman Nolan Arenado, center fielder Cody Bellinger of the Chicago Cubs, and pursuing free agent first baseman Christian Walker and reliever Tanner Scott. And they still will have plenty of money left that wasn’t used to Soto. “Look, it's not going to stop us from hopefully going to put together another great team," Yankees manager Aaron Boone said Tuesday morning. “There's different ways of doing it. We don't even know which way that is this winter. You don't know how it's going to unfold, what free agents come into the mix, who you match up with, who you maybe match up with in a trade. That's the fun part about now and trying to make good evaluations and good decisions ultimately to put us in a good spot moving forward." That pain of losing Soto was certainly eased with the signing of Fried, 30, a two-time All-Star with a 2.81 ERA the past five years in Atlanta. The Yankees beat out the Boston Red Sox and Toronto Blue Jays in the bidding for Fried. “Our expectation is to still go out and build and put together a great team to go compete for a championship again next year,’’ Boone said. “That doesn't stop.’’ They certainly took a huge first step in doing just that while vying for their first World Series title since 2009. Follow Nightengale on X: @Bnightengale The USA TODAY app gets you to the heart of the news — fast . Download for award-winning coverage, crosswords, audio storytelling, the eNewspaper and more .
Giannis Antetokounmpo returns for Bucks after missing 1 game with knee swellingMONCTON, New Brunswick, Dec. 05, 2024 (GLOBE NEWSWIRE) -- Major Drilling Group International Inc. (“Major Drilling” or the “Company”) (TSX: MDI), a leading provider of specialized drilling services to the mining sector, today reported results for the second quarter of fiscal 2025, ended October 31, 2024. Quarterly Highlights: Revenue of $189.3 million, in line with the $190.0 million generated in fiscal Q1, but down 8.6% from $207.0 million in the same period last year. Adjusted gross margin (1) of 30.5%, consistent with the 31.0% achieved in the same period last year as the Company remained focused on higher-margin specialized drilling. EBITDA (1) of $38.7 million, down from $43.6 million in the same period last year. Net earnings of $18.2 million (or $0.22 per share), down from $23.7 million (or $0.29 per share) in the same period last year. Net cash (1) increased by $23.5 million to $100.4 million, enabling the Company to react to potential growth opportunities. Subsequent to quarter end, completed the acquisition of Explomin, a leading specialty drilling contractor based in Lima, Peru, for an up-front cash payment of US$63 million (approximately C$88 million). “For Q2 of fiscal 2025, Major Drilling’s globally diversified operations and reputation as the driller-of-choice enabled us to maintain our revenue run rate relative to fiscal Q1, despite challenging conditions in certain markets,” commented Mr. Denis Larocque, President & CEO of Major Drilling. “We were pleased once again by our Australasian and Chilean operations, which continue to offset lower activity levels in North America, primarily driven by lower junior exploration expenditures.” “The Company delivered solid financial results for the quarter, supported by an adjusted gross margin of 30.5%. This represented an increase from 28.9% in fiscal Q1 and is in line with the 31.0% achieved over the same period last year as the Company remains focused on profitable operations and our best-in-class specialized drilling services,” commented Ian Ross, CFO of Major Drilling. “As previously disclosed, our 2021 McKay acquisition successfully met all of the EBITDA milestones in the earnout period, with the final contingent payment of $9.1 million made during the quarter. We also continue to modernize our drill fleet, having spent $20.1 million in capex, which includes the addition of 5 new drills and support equipment, while disposing of 4 older, less efficient rigs, bringing Major Drilling’s total fleet to 610 drills. Given another strong operational performance, our net cash position increased to $100.4 million at quarter end, while we continue to retain an industry leading balance sheet, enabling the acquisition of Explomin in early fiscal Q3,” concluded Mr. Ross. “With McKay continuing to demonstrate strong results in Australasia since its acquisition in 2021, our focus now turns to the integration of Explomin – a leading South American driller with operations in Peru, Colombia, the Dominican Republic and Spain. I am excited to welcome Explomin and its employees to the Major Drilling team. Their long-standing reputation, strong base of senior mining customers, and focus on specialized drilling, with its well-maintained fleet of rigs, complement our existing operations and offer further potential growth opportunities in South America,” said Mr. Larocque. “As Peru has been on our radar for quite some time given its status as the second largest copper producer, Explomin solidifies our South American presence, supplementing our existing operations in Brazil, Chile, Argentina, and throughout the Guyana Shield.” “Looking ahead to our seasonally slower third quarter of fiscal 2025, we are expecting programs in North America to pause for the holiday period slightly earlier than in prior years, although this is expected to be partially offset by ongoing strength in Australia and Chile. While we will be adding revenue from the Explomin operations, we expect them to have the same usual seasonality as the rest of our South American operations. Demand from senior customers for calendar 2025 is expected to remain robust, while we are optimistic regarding the activity levels of juniors following a slight increase in financing activity. The combination of elevated commodity prices, translating to increased free cash flow generation for mining companies, coupled with depleted reserve bases, should lead to increases in demand for drilling services over the years to come.” “Our well-maintained fleet ensures that we retain utilization capacity which, combined with our optimal inventory levels and experienced crews, puts us in an excellent position to capitalize on these increased levels of demand for our drilling services. Our core strategy is to remain the leader in specialized drilling as new discoveries are made in increasingly challenging and remote locations. Our solid foundation, supplemented by ongoing technological innovation, puts us in an ideal position to take on these new and exciting challenges." “I’m extremely proud to announce that our Canadian team was recently awarded the Safe Day Every Day Gold Award by the Association for Mineral Exploration, Prospectors & Developers Association of Canada, and Canadian Diamond Drilling Association. Our Canadian team achieved over 1,146,000 hours without a lost time injury, an achievement that demonstrates our ongoing dedication to maintaining high safety standards across all projects around the world,” concluded Mr. Larocque. Finally, Major Drilling announces the resignation of Mr. Robert Krcmarov from the Board of Directors effective December 5, 2024, to focus on his new role as Chief Executive Officer of Hecla Mining Company. Kim Keating, Chair of the Board, commented: “On behalf of the Board and the leadership team at Major Drilling, I would like to congratulate Rob on this appointment, and thank him for his significant contributions during his tenure on the Board. Rob’s experience and insights were of great benefit to Major Drilling’s Board and leadership team. He was instrumental in the development of Major Drilling’s Decarbonization Action Plan and in strengthening the Company’s health and safety program, as well as his timely advice regarding the most recent acquisition of Explomin Perforaciones earlier this month. We thank Rob for his invaluable advice and wish him all the best in his new role leading Hecla Mining Company.” Second Quarter Ended October 31, 2024 Total revenue for the quarter was $189.3 million, down 8.6% from revenue of $207.0 million recorded in the same quarter last year. The foreign exchange translation impact on revenue and earnings, when comparing to the effective rates for the previous year, was minimal. Revenue for the quarter from Canada - U.S. drilling operations decreased by 20.0% to $85.4 million, compared to the same period last year. While senior and intermediate activity levels increased slightly, this only partially offset the decline in demand from juniors relative to the same period last year as they continued to face challenging financing opportunities. South and Central American revenue decreased by 6.5% to $49.1 million for the quarter, compared to the same quarter last year. While operations in Chile remain robust, this was offset by slowdowns in other parts of the region. Australasian and African revenue increased by 14.4% to $54.7 million, compared to the same period last year as demand for specialized drilling services in Australia and Mongolia continue to drive growth in the region. Gross margin percentage for the quarter was 23.4%, compared to 25.3% for the same period last year. Depreciation expense totaling $13.4 million is included in direct costs for the current quarter, versus $11.8 million in the same quarter last year. Adjusted gross margin, which excludes depreciation expense, was 30.5% for the quarter, compared to 31.0% for the same period last year. Adjusted gross margin remained relatively unchanged as the Company remains disciplined with respect to pricing. General and administrative costs were $18.4 million, an increase of $0.8 million compared to the same quarter last year. This increase primarily relates to inflationary wage adjustments. Other expenses were $2.5 million, down from $3.2 million in the same quarter last year due primarily to lower incentive compensation expenses given the decreased profitability. Foreign exchange gain was $0.5 million, compared to a loss of $0.9 million for the same quarter last year. While the Company's reporting currency is the Canadian dollar, various jurisdictions have net monetary assets or liabilities exposed to various other currencies. The income tax provision for the quarter was an expense of $6.5 million, compared to an expense of $7.4 million for the prior year period. The decrease from the prior year was driven by reduced profitability. Net earnings were $18.2 million or $0.22 per share ($0.22 per share diluted) for the quarter, compared to net earnings of $23.7 million or $0.29 per share ($0.29 per share diluted) for the prior year quarter. Non-IFRS Financial Measures The Company’s financial data has been prepared in accordance with IFRS, with the exception of certain financial measures detailed below. The measures below have been used consistently by the Company’s management team in assessing operational performance on both segmented and consolidated levels, and in assessing the Company’s financial strength. The Company believes these non-IFRS financial measures are key, for both management and investors, in evaluating performance at a consolidated level and are commonly reported and widely used by investors and lending institutions as indicators of a company’s operating performance and ability to incur and service debt, and as a valuation metric. These measures do not have a standardized meaning prescribed by IFRS and therefore may not be comparable to similarly titled measures presented by other publicly traded companies and should not be construed as an alternative to other financial measures determined in accordance with IFRS. EBITDA - earnings before interest, taxes, depreciation, and amortization: Adjusted gross profit/margin - excludes depreciation expense: Net cash – cash net of debt, excluding lease liabilities reported under IFRS 16 Leases: Forward-Looking Statements This news release includes certain information that may constitute “forward-looking information” under applicable Canadian securities legislation. All statements, other than statements of historical facts, included in this news release that address future events, developments, or performance that the Company expects to occur (including management’s expectations regarding the Company’s objectives, strategies, financial condition, results of operations, cash flows and businesses) are forward-looking statements. Forward-looking statements are typically identified by future or conditional verbs such as “outlook”, “believe”, “anticipate”, “estimate”, “project”, “expect”, “intend”, “plan”, and terms and expressions of similar import. All forward-looking information in this news release is qualified by this cautionary note. Forward-looking information is necessarily based upon various estimates and assumptions including, without limitation, the expectations and beliefs of management related to the factors set forth below. While these factors and assumptions are considered reasonable by the Company as at the date of this document in light of management’s experience and perception of current conditions and expected developments, these statements are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements and undue reliance should not be placed on such statements and information. Such forward-looking statements are subject to a number of risks and uncertainties that include, but are not limited to: the level of activity in the mining industry and the demand for the Company’s services; competitive pressures; global and local political and economic environments and conditions; the level of funding for the Company’s clients (particularly for junior mining companies); the Company’s dependence on key customers; the integration of business acquisitions and the realization of the intended benefits of such acquisitions; efficient management of the Company’s growth; exposure to currency movements (which can affect the Company’s revenue in Canadian dollars); currency restrictions; safety of the Company’s workforce; risks and uncertainties relating to climate change and natural disaster; the geographic distribution of the Company’s operations; the impact of operational changes; changes in jurisdictions in which the Company operates (including changes in regulation); failure by counterparties to fulfill contractual obligations; disease outbreak; as well as other risk factors described under “General Risks and Uncertainties” in the Company’s MD&A for the year ended April 30, 2024, available on the SEDAR+ website at www.sedarplus.ca . Should one or more risk, uncertainty, contingency, or other factor materialize or should any factor or assumption prove incorrect, actual results could vary materially from those expressed or implied in the forward-looking information. Forward-looking statements made in this document are made as of the date of this document and the Company disclaims any intention and assumes no obligation to update any forward-looking statement, even if new information becomes available, as a result of future events, or for any other reasons, except as required by applicable securities laws. About Major Drilling Major Drilling Group International Inc. is the world’s leading provider of specialized drilling services primarily serving the mining industry. Established in 1980, Major Drilling has over 1,000 years of combined experience and expertise within its management team. The Company maintains field operations and offices in North America, South America, Australia, Asia, Africa, and Europe. Major Drilling provides a complete suite of drilling services including surface and underground coring, directional, reverse circulation, sonic, geotechnical, environmental, water-well, coal-bed methane, shallow gas, underground percussive/longhole drilling, surface drill and blast, a variety of mine services, and ongoing development of data-driven, high-tech drillside solutions. Webcast/Conference Call Major Drilling Group International Inc. will provide a simultaneous webcast and conference call to discuss its quarterly results on Friday, December 6, 2024 at 8:00 AM (EST). To access the webcast, which includes a slide presentation, please go to the investors/webcasts section of Major Drilling’s website at www.majordrilling.com and click on the link. Please note that this is listen-only mode. To participate in the conference call, please dial 416-340-2217, participant passcode 4769038# and ask for Major Drilling’s Second Quarter Results Conference Call. To ensure your participation, please call in approximately five minutes prior to the scheduled start of the call. For those unable to participate, a taped rebroadcast will be available approximately one hour after the completion of the call until Monday, January 6, 2025. To access the rebroadcast, dial 905-694-9451 and enter the passcode 1708283#. The webcast will also be archived for one year and can be accessed on the Major Drilling website at www.majordrilling.com. For further information: Ryan Hanley Director, Corporate Development & Investor Relations Tel: (506) 857-8636 Fax: (506) 857-9211 ir@majordrilling.com MAJOR DRILLING GROUP INTERNATIONAL INC. NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE AND SIX MONTHS ENDED OCTOBER 31, 2024 AND 2023 (UNAUDITED) (in thousands of Canadian dollars, except per share information) 1. NATURE OF ACTIVITIES Major Drilling Group International Inc. (the “Company”) is incorporated under the Canada Business Corporations Act and has its head office at 111 St. George Street, Moncton, NB, Canada. The Company’s common shares are listed on the Toronto Stock Exchange (“TSX”). The principal source of revenue consists of contract drilling for companies primarily involved in mining and mineral exploration. The Company has operations in North America, South America, Australia, Asia, and Africa. 2. BASIS OF PRESENTATION Statement of compliance These Interim Condensed Consolidated Financial Statements have been prepared in accordance with IAS 34 Interim Financial Reporting (“IAS 34”) as issued by the International Accounting Standards Board (“IASB”) and using the accounting policies as outlined in the Company’s annual Consolidated Financial Statements for the year ended April 30, 2024. On December 5, 2024, the Board of Directors authorized the financial statements for issue. Basis of consolidation These Interim Condensed Consolidated Financial Statements incorporate the financial statements of the Company and entities controlled by the Company. Control is achieved when the Company is exposed or has rights to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. The results of subsidiaries acquired or disposed of during the period are included in the Consolidated Statements of Operations from the effective date of acquisition or up to the effective date of disposal, as appropriate. Intercompany transactions, balances, income and expenses are eliminated on consolidation, where appropriate. Basis of preparation These Interim Condensed Consolidated Financial Statements have been prepared based on the historical cost basis, except for certain financial instruments that are measured at fair value, using the same accounting policies and methods of computation, with the exception of those detailed in note 4 below, as presented in the Company’s annual Consolidated Financial Statements for the year ended April 30, 2024. 3. APPLICATION OF NEW AND REVISED IFRS ® ACCOUNTING STANDARDS The Company has not applied the following IASB standard amendment and standard that have been issued, but are not yet effective: IAS 21 (as amended in 2023) - The Effect of Changes in Foreign Exchange Rates - effective for periods beginning on or after January 1, 2025, with earlier application permitted. The amendments contain guidance to specify when a currency is exchangeable and how to determine the exchange rate when it is not. IFRS 18 (as issued in 2024) - Presentation and Disclosure of Financial Statements - effective for periods beginning on or after January 1, 2027, with earlier application permitted. The standard replaces IAS 1, Presentation of Financial Statements, and includes requirements for the presentation and disclosure of information in financial statements. The Company is currently in the process of assessing the impact the adoption of the above amendment and standard will have on the Consolidated Financial Statements. 4. MATERIAL ACCOUNTING POLICIES With the exception of the policy detailed below, all accounting policies and methods of computation remain the same as those presented in the Company's annual Consolidation Financial Statements for the year ended April 30, 2024. Investment in associate Associates are companies that the Company has significant influence over and are accounted for under the equity method. Significant influence is the power to participate in the financial and operating policy decisions of the investee, but is not control or joint control over those policies. Significant influence is presumed when the Company has an ownership interest greater than 20%, unless certain qualitative factors overcome this assumption. In assessing significant influence and the ownership interest, potential voting or other rights that are currently exercisable are taken into consideration. Investments in associates are accounted for using the equity method and are initially recognized at cost, inclusive of transaction costs. The Interim Condensed Consolidated Financial Statements include the Company's share of the income or loss and equity movement of equity accounted associates. The Company does not recognize losses exceeding the carrying value of its interest in the associate. 5. KEY SOURCES OF ESTIMATION UNCERTAINTY AND CRITICAL ACCOUNTING JUDGMENTS The preparation of financial statements, in conformity with IFRS, requires management to make judgments, estimates and assumptions that are not readily apparent from other sources, which affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods. Significant areas requiring the use of management estimates relate to the useful lives of property, plant and equipment for depreciation purposes, inventory valuation, determination of income and other taxes, recoverability of deferred income tax assets, assumptions used in compilation of share-based payments, provisions, contingent considerations, impairment testing of goodwill and intangible assets and long-lived assets. The Company applied judgment in determining the functional currency of the Company and its subsidiaries, the determination of cash-generating units (“CGUs”), the degree of componentization of property, plant and equipment, the recognition of provisions, the determination of the probability that deferred income tax assets will be realized from future taxable earnings, and the determination of whether the Company exerts significant influence with respect to its investment in associate under the equity accounting method. 6. SEASONALITY OF OPERATIONS The third quarter (November to January) is normally the Company’s weakest quarter due to the shutdown of mining and exploration activities, often for extended periods over the holiday season. 7. PROPERTY, PLANT AND EQUIPMENT Capital expenditures for the three and six months ended October 31, 2024 were $20,073 (2023 - $17,443) and $41,324 (2023 - $33,717). The Company did not obtain direct financing for the three and six months ended October 31, 2024 or 2023. 8. INVESTMENT IN ASSOCIATE On July 22, 2024, the Company purchased shares in DGI Geoscience Inc. (“DGI”) for $15,000 in cash consideration, a 39.8% equity interest (that provides the Company with 42.3% of the voting rights). DGI and its subsidiaries are privately held entities, headquartered in Canada, focused on downhole survey and imaging services as well as using artificial intelligence for logging scanned rock samples. In addition to the equity interest, Major Drilling's representation on the DGI Board of Directors gives the Company significant influence over DGI. While there are special approval rights granted to the Company as part of the investment, these are more protective in nature and therefore, would not result in control, or joint control of DGI. As a result, the Company concluded that the equity method of accounting is appropriate for its investment in DGI. During the prior quarter, the Company incurred costs of $205 for this investment, relating to external legal fees and due diligence costs. These amounts have been recorded as part of the cost of the investment in associate in the Interim Condensed Consolidated Balance Sheets. In the current quarter, the Company's earnings from investment in associate is $27. 9. SHARE BUYBACK During the prior year, for the three and six months ended October 31, 2023, the Company repurchased 875,268 and 1,020,568 common shares, respectively, at an average price of $8.31 and $8.40, respectively, under its Normal Course Issuer Bid. 10. EXPENSES BY NATURE Direct costs by nature are as follows: General and administrative expenses by nature are as follows: 11. INCOME TAXES The income tax provision for the periods can be reconciled to accounting earnings before income tax as follows: The Company periodically assesses its liabilities and contingencies for all tax years open to audit based upon the latest information available. For those matters where it is probable that an adjustment will be made, the Company records its best estimate of these tax liabilities, including related interest charges. Inherent uncertainties exist in estimates of tax contingencies due to changes in tax laws. While management believes they have adequately provided for the probable outcome of these matters, future results may include favourable or unfavourable adjustments to these estimated tax liabilities in the period the assessments are made, or resolved, or when the statutes of limitations lapse. 12. EARNINGS PER SHARE All of the Company’s earnings are attributable to common shares, therefore, net earnings are used in determining earnings per share. The calculation of diluted earnings per share for the three and six months ended October 31, 2024 excludes the effect of 200,000 options for both periods (2023 - 297,000 and 205,000, respectively) as they were not in-the-money. The total number of shares outstanding on October 31, 2024 was 81,842,086 (2023 - 82,093,486). 13. SEGMENTED INFORMATION The Company’s operations are divided into the following three geographic segments, corresponding to its management structure: Canada - U.S.; South and Central America; and Australasia and Africa. The services provided in each of the reportable segments are essentially the same. The accounting policies of the segments are the same as those described in the Company’s annual Consolidated Financial Statements for the year ended April 30, 2024. Management evaluates performance based on earnings from operations in these three geographic segments before finance costs, general corporate expenses and income taxes. Data relating to each of the Company’s reportable segments is presented as follows: *Canada - U.S. includes revenue of $25,695 and $34,074 for Canadian operations for the three months ended October 31, 2024 and 2023, respectively and $57,543 and $70,762 for the six months ended October 31, 2024 and 2023, respectively. **General and corporate expenses include expenses for corporate offices and stock-based compensation. *Canada - U.S. includes property, plant and equipment as at October 31, 2024 of $64,041 (April 30, 2024 - $62,991) for Canadian operations. 14. FINANCIAL INSTRUMENTS Fair value The carrying values of cash, trade and other receivables, demand credit facilities and trade and other payables approximate their fair value due to the relatively short period to maturity of the instruments. The carrying value of contingent consideration and long-term debt approximates their fair value as the interest applicable is reflective of fair market rates. Financial assets and liabilities measured at fair value are classified and disclosed in one of the following categories: Level 1 - quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 - inputs other than quoted prices included in level 1 that are observable for the assets or liabilities, either directly (i.e., as prices) or indirectly (i.e., derived from prices); and Level 3 - inputs for the assets or liabilities that are not based on observable market data (unobservable inputs). The Company enters into certain derivative financial instruments to manage its exposure to market risks, comprised of share-price forward contracts with a combined notional amount of $8,654, maturing at varying dates through June 2027. The fair value hierarchy requires the use of observable market inputs whenever such inputs exist. A financial instrument is classified to the lowest level of the hierarchy for which a significant input has been considered in measuring fair value. The Company’s derivatives, with fair values as follows, are classified as level 2 financial instruments and recorded in trade and other receivables (payables) in the Interim Condensed Consolidated Balance Sheets. There were no transfers of amounts between level 1, level 2 and level 3 financial instruments for the three and six months ended October 31, 2024. Credit risk As at October 31, 2024, 96.1% (April 30, 2024 - 95.9%) of the Company’s trade receivables were aged as current and 3.5% (April 30, 2024 - 3.5%) of the trade receivables were impaired. The movements in the allowance for impairment of trade receivables during the periods were as follows: Foreign currency risk As at October 31, 2024, the most significant carrying amounts of net monetary assets and/or liabilities (which may include intercompany balances with other subsidiaries) that: (i) are denominated in currencies other than the functional currency of the respective Company subsidiary; and (ii) cause foreign exchange rate exposure, including the impact on earnings before income taxes (“EBIT”), if the corresponding rate changes by 10%, are as follows (in $000s CAD): Liquidity risk The following table details contractual maturities for the Company’s financial liabilities: 15. SUBSEQUENT EVENT On November 5, 2024, the Company completed the purchase of all of the issued and outstanding shares of Explomin Perforaciones ("Explomin"), a leading specialty drilling contractor based in Lima, Peru. This acquisition provides Major Drilling with increased exposure to the copper market as Explomin is one of the largest South American drilling contractors, with the majority of their operations in Peru, while also servicing markets in Colombia, Dominican Republic, and Spain. The purchase price for the acquisition is valued at an amount up to US$85 million, consisting of: (i) a cash payment of US$63 million payable on closing, subject to working capital adjustments; and (ii) an earnout of up to US$22 million payable in cash over the next three years, based on the achievement of certain milestones. The cash portion of the purchase price has been funded from Major Drilling’s cash and existing debt facilities.
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Advisors Asset Management Inc. Purchases 478 Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO)The demands of achieving both one-day shipping and a satisfying orgasm collide in Halina Reijn’s “Babygirl,” a kinky and darkly comic erotic thriller about sex in the Amazon era. Nicole Kidman stars as Romy Mathis, the chief executive of Tensile, a robotics business that pioneered automotive warehouses. In the movie’s opening credits, a maze of conveyor belts and bots shuttle boxes this way and that without a human in sight. Romy, too, is a little robotic. She intensely presides over the company. Her eyes are glued to her phone. She gets Botox injections, practices corporate-speak presentations (“Look up, smile and never show your weakness”) and maintains a floor-through New York apartment, along with a mansion in the suburbs that she shares with her theater-director husband ( Antonio Banderas ) and two teenage daughters (Esther McGregor and Vaughan Reilly). But the veneer of control is only that in “Babygirl,” a sometimes campy, frequently entertaining modern update to the erotically charged movies of the 1990s, like “Basic Instinct” and “9 1⁄2 Weeks.” Reijn, the Danish director of “Bodies Bodies Bodies” has critically made her film from a more female point of view, resulting in ever-shifting gender and power dynamics that make “Babygirl” seldom predictable — even if the film is never quite as daring as it seems to thinks it is. The opening moments of “Babygirl,” which A24 releases Wednesday, are of Kidman in close-up and apparent climax. But moments after she and her husband finish and say “I love you,” she retreats down the hall to writhe on the floor while watching cheap, transgressive internet pornography. The breathy soundtrack, by the composer Cristobal Tapia de Veer, heaves and puffs along with the film's main character. One day while walking into the office, Romy is taken by a scene on the street. A violent dog gets loose but a young man, with remarkable calmness, calls to the dog and settles it. She seems infatuated. The young man turns out to be Samuel (Harris Dickinson), one of the interns just starting at Tensile. When they meet inside the building, his manner with her is disarmingly frank. Samuel arranges for a brief meeting with Romy, during which he tells her, point blank, “I think you like to be told what to do.” She doesn't disagree. Some of the same dynamic seen on the sidewalk, of animalistic urges and submission to them, ensues between Samuel and Romy. A great deal of the pleasure in “Babygirl” comes in watching Kidman, who so indelibly depicted uncompromised female desire in Stanley Kubrick’s “Eyes Wide Shut,” again wade into the mysteries of sexual hunger. “Babygirl,” which Reijn also wrote, is sometimes a bit much. (In one scene, Samuel feeds Romy saucers of milk while George Michael’s “Father Figure” blares.) But its two lead actors are never anything but completely magnetic. Kidman deftly portrays Romy as a woman falling helplessly into an affair; she both knows what she’s doing and doesn’t. Dickinson exudes a disarming intensity; his chemistry with Kidman, despite their quickly forgotten age gap, is visceral. As their affair evolves, Samuel’s sense of control expands and he begins to threaten a call to HR. That he could destroy her doesn’t necessarily make Romy any less interested in seeing him, though there are some delicious post-#MeToo ironies in their clandestine CEO-intern relationship. Also in the mix is Romy’s executive assistant, Esme (Sophie Wilde, also very good), who's eager for her own promotion. Where “Babygirl” heads from here, I won’t say. But the movie is less interested in workplace politics than it is in acknowledging authentic desires, even if they’re a little ludicrous. There’s genuine tenderness in their meetings, no matter the games that are played. Late in the film, Samuel describes it as “two children playing.” As a kind of erotic parable of control, “Babygirl” is also, either fittingly or ironically, shot in the very New York headquarters of its distributor, A24. For a studio that’s sometimes been accused of having a “house style,” here’s a movie that goes one step further by literally moving in. What about that automation stuff earlier? Well, our collective submission to digital overloads might have been a compelling jumping-off point for the film, but along the way, not every thread gets unraveled in the easily distracted “Babygirl.” Saucers of milk will do that. “Babygirl,” an A24 release, is rated R by the Motion Picture Association for “strong sexual content, nudity and language.” Running time: 114 minutes. Three stars out of four.Uwill Founder & CEO Michael London Named Innovator in Healthcare
Global stocks mostly fall ahead of ECB, US inflation data
NoneGus Malzahn is resigning as Central Florida's head coach to become Florida State 's offensive coordinator, a person familiar with the hire told The Associated Press on Saturday. Read this article for free: Already have an account? To continue reading, please subscribe: * Gus Malzahn is resigning as Central Florida's head coach to become Florida State 's offensive coordinator, a person familiar with the hire told The Associated Press on Saturday. Read unlimited articles for free today: Already have an account? Gus Malzahn is resigning as Central Florida’s head coach to become Florida State ‘s offensive coordinator, a person familiar with the hire told The Associated Press on Saturday. The person spoke on condition of anonymity because the Seminoles have not confirmed Malzahn’s move, which is pending a state background check. ESPN first reported the decision. The Knights made official that Malzahn is leaving in a statement released a day after UCF (4-8) concluded its season with a 28-14 loss to Utah. “We would like to thank Coach Malzahn for his contributions to our football program over the past four seasons, including our transition into the Big 12 Conference,” the school said. “We appreciate his professionalism and dedication to our student-athletes throughout his tenure at UCF and wish he and his wife, Kristi, the very best in their future endeavors.” Malzahn finished with a 28-24 mark in four years at UCF, the last two ending with losing records after joining the Big 12. He coached at Auburn for eight seasons before being fired in 2020. Malzahn replaces offensive coordinator/offensive line coach Alex Atkins, who was fired Nov. 10 following a 52-3 loss at Notre Dame. The Seminoles rank 131st out of 134 in total offense and scoring offense, averaging 15.8 points a game heading into Saturday night’s rivalry game against Florida. The Seminoles (2-9) have dropped significantly since going 13-1 last season and winning the Atlantic Coast Conference championship. The Knights, meanwhile, struggled mightily in Malzahn’s fourth season — most of it because of quarterback issues. Four players took snaps from center as the Knights finished 2-7 in conference play. It was the program’s worst record since going 0-12 in former coach George O’Leary’s final season in 2015. Florida State coach Mike Norvell fired Atkins, defensive coordinator Adam Fuller and receivers coach Ron Dugans amid the Seminoles’ season-long skid. Winnipeg Jets Game Days On Winnipeg Jets game days, hockey writers Mike McIntyre and Ken Wiebe send news, notes and quotes from the morning skate, as well as injury updates and lineup decisions. Arrives a few hours prior to puck drop. ___ Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here. AP college football: https://apnews.com/hub/ap-top-25-college-football-poll and https://apnews.com/hub/college-football Advertisement Advertisement
ATLANTA (AP) — The Atlanta Falcons are back in first place in the NFC South and again in control of their playoff hopes. Rookie quarterback Michael Penix Jr. showed the poise in his first NFL start the Falcons will need to take advantage of their opportunity to end a six-year playoff drought. Powered by a big-play defense that produced two pick-6s, a solid starting debut by Penix and two rushing touchdowns by Bijan Robinson, the Falcons cruised past the hapless New York Giants 34-7 on Sunday. On Sunday night, the Falcons (8-7) received the assist they needed when Tampa Bay lost at Dallas . Because the Falcons swept the Buccaneers, they hold the tiebreaker advantage if they remain tied atop the division. The Falcons have games remaining at Washington on Sunday night and at home against Carolina to close the regular season. If Atlanta wins both games, it would win the division and have a home playoff game. The Falcons are assured of their best record since a 10-6 finish under coach Dan Quinn in 2017, their most recent playoff season. Quinn is in his first season as Washington's coach and has led the Commanders (10-5) to three straight wins, including Sunday's 36-33 victory over Philadelphia. Penix, the No. 8 overall pick in this year's NFL draft, was promoted after coach Raheem Morris benched Kirk Cousins. Penix completed 18 of 27 passes for 202 yards with one interception on a pass that should have been caught by tight end Kyle Pitts. Penix is not a dual-threat quarterback, but he showed the ability to escape pressure in the pocket that Cousins lacks following his 2023 Achilles tendon injury. The left-hander's superior arm strength also was immediately obvious. Robinson's production provided a safety net for the offense which helped make for a smooth transition to Penix. Robinson had scoring runs of 2 and 4 yards. Robinson has rushed for 10 touchdowns this season. He's the first Atlanta player with 10 more more rushing touchdowns since Devonta Freeman during the 2016 Super Bowl season. Robinson ran for 94 yards on 22 carries and had 103 yards from scrimmage. His 11th game this season with at least 100 yards from scrimmage are the most for the Falcons since Warrick Dunn's 11 in 2005. Morris said Robinson deserves to be considered with Philadelphia's Saquon Barkley in discussions regarding the league's top running backs. “Bijan has been outstanding all year in the things that he’s able to do," Morris said. “He’s special. If it wasn’t for this other guy out in Philly, he’d get a lot more recognition across the league. But that guy is having a special year, and Bijan’s not far behind him.” With kicker Younghoe Koo on injured reserve and watching from the sideline, Riley Patterson was wide left on his first field-goal attempt from 43 yards. Patterson rebounded to make attempts from 52 and 37 yards. Jessie Bates III and Matthew Judon each had a pick-6 to highlight a day of big plays for the defense. Arnold Ebiketie had his fifth sack of the season and added a fumble recovery. Kaden Ellis added a strip-sack. He also has five sacks this season, including sacks in four consecutive games. It is the longest streak for Atlanta since Patrick Kerney had sacks in five straight games in 2001. There was some thought that a change at quarterback could be good news for Pitts, who often seemed to be missing in action with Cousins running the offense. After all, a tight end often is a natural target for quick passes from a rookie making his first start. Instead, Pitts had a poor start to the Penix era when he bobbled his first pass from the left-hander, creating an interception by cornerback Cor’Dale Flott. Pitts caught a 7-yard pass on his only other target. For the season, Pitts has 41 catches for 543 yards and three touchdowns. There will be much interest in this week's injury report after WR Drake London (hamstring) was hurt in the second half. Morris provided an optimistic postgame outlook on London. CB Antonio Hamilton (quad) did not return after leaving the game in the first half. 8: Bates has four interceptions and four forced fumbles. His combined eight forced turnovers lead the NFL. The game against Jayden Daniels and the Commanders is a reminder Penix was only the fourth of six quarterbacks selected in the first round of the NFL draft. Daniels, from LSU, was the No. 2 overall pick behind Caleb Williams by Chicago. AP NFL: https://apnews.com/hub/nflIntech Investment Management LLC decreased its holdings in shares of MSA Safety Incorporated ( NYSE:MSA – Free Report ) by 39.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,508 shares of the industrial products company’s stock after selling 2,977 shares during the quarter. Intech Investment Management LLC’s holdings in MSA Safety were worth $799,000 as of its most recent SEC filing. A number of other hedge funds have also modified their holdings of the business. GAMMA Investing LLC boosted its position in shares of MSA Safety by 198.8% during the 2nd quarter. GAMMA Investing LLC now owns 245 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 163 shares during the last quarter. Blue Trust Inc. boosted its holdings in MSA Safety by 486.0% in the 3rd quarter. Blue Trust Inc. now owns 252 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 209 shares during the last quarter. Covestor Ltd boosted its holdings in MSA Safety by 985.1% in the 3rd quarter. Covestor Ltd now owns 803 shares of the industrial products company’s stock valued at $143,000 after purchasing an additional 729 shares during the last quarter. Kowal Investment Group LLC acquired a new stake in shares of MSA Safety during the 2nd quarter worth approximately $204,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of MSA Safety during the 2nd quarter worth approximately $206,000. 92.51% of the stock is currently owned by institutional investors and hedge funds. MSA Safety Trading Down 0.3 % NYSE MSA opened at $173.80 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.68 and a quick ratio of 1.56. The stock has a market capitalization of $6.83 billion, a P/E ratio of 25.12 and a beta of 0.99. The firm’s 50-day moving average is $172.33 and its two-hundred day moving average is $179.03. MSA Safety Incorporated has a 12 month low of $160.02 and a 12 month high of $200.60. MSA Safety Announces Dividend The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Friday, November 15th. MSA Safety’s dividend payout ratio (DPR) is 29.48%. Wall Street Analysts Forecast Growth Separately, B. Riley started coverage on MSA Safety in a research report on Tuesday, November 5th. They issued a “buy” rating and a $200.00 price objective for the company. Read Our Latest Report on MSA Safety MSA Safety Company Profile ( Free Report ) MSA Safety Incorporated develops, manufactures, and supplies safety products and technology solutions that protect people and facility infrastructures in the fire service, energy, utility, construction, and industrial manufacturing applications, as well as heating, ventilation, air conditioning, and refrigeration industries worldwide. Further Reading Five stocks we like better than MSA Safety The Significance of Brokerage Rankings in Stock Selection The Latest 13F Filings Are In: See Where Big Money Is Flowing Best ESG Stocks: 11 Best Stocks for ESG Investing 3 Penny Stocks Ready to Break Out in 2025 The Significance of a Trillion-Dollar Market Cap Goes Beyond a Number FMC, Mosaic, Nutrien: Top Agricultural Stocks With Big Potential Receive News & Ratings for MSA Safety Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MSA Safety and related companies with MarketBeat.com's FREE daily email newsletter .
The MLB Draft Lottery has generated some incredible results for the league. The completely unpredictable process allowed teams like the Cleveland Guardians and Cincinnati Reds to enter the lottery in 2024 despite relatively respectable seasons. Nonetheless, the anti-tanking process has made for some interesting results. Thanks to the St. Louis Cardinals and Seattle Mariners jumping up into the lottery, the Chicago Cubs fell from their original spot. Beginning the evening with the highest likelihood of remaining at their 14th pick, the Cubs fell back three spots with teams like the Oakland Athletics and Chicago White Sox also jumping up into the top 12 following horrific seasons. The results for the top 18 picks are as follows: MLB Draft Lottery 2025 Results 18 Arizona Diamondbacks (16, 0.27%) 17 Chicago Cubs (14, 0.68%) 16 Minnesota Twins (12, 1.09%) 15 Boston Red Sox (11, 1.22%) 14 Tampa Bay Rays (10, 1.50%) 13 San Francisco Giants (9, 1.90%) 12 Texas Rangers (8, 2.45%) 11 Oakland Athletics (ineligible) 10 Chicago White Sox (ineligible) 9 Cincinnati Reds (7, 3.67%) 8 Toronto Blue Jays (5, 7.48%) 7 Miami Marlins (1-T, 22.45%) 6 Pittsburgh Pirates (6, 5.31%) 5 St. Louis Cardinals (13, 0.82%) 4 Colorado Rockies (1-T, 22.45%) 3 Seattle Mariners (15, 0.53%) 2 Los Angeles Angels (3, 17.96%) 1 Washington Nationals (4, 10.20%) Although the Cubs fell, they're still in position to add another impact player. In 2023, the Cubs landed top prospect Matt Shaw at the 13th spot and in 2024 landed Cam Smith, another top-10 prospect, with the 14th overall selection . Perhaps the Cubs' front office can channel some of that luck again and find another impact player at the 17th spot. The 2025 MLB Draft will take place July 13-15 from Atlanta, home of the 2025 MLB All-Star Game. This article first appeared on On Tap Sports Net and was syndicated with permission.
Movie Review: Nicole Kidman commands the erotic office drama 'Babygirl'ORCHARD PARK — Kyle Juszczyk was inches from the goal line. Matt Milano’s arms were wrapped around his waist, but his legs were still pumping. And then Taylor Rapp made a quick right jab at the ball, jarring it from Juszczyk’s grasp as it rolled to Christian Benford’s waiting hands. Juszczyk’s fumble came on the first drive of the second half with the San Francisco 49ers trailing 21-3. But the 49ers moved the ball during the first half, started the second with a 60-yard kickoff return and could sniff the end zone. Instead they came away with nothing and lost 35-10. It wasn’t a turnover, Buffalo Bills defensive coordinator Bobby Babich insists. It was a takeaway and the Bills have created one in every game this season, seemingly always at the right moment. The Bills are second in takeaways (one behind the Pittsburgh Steelers) and 11 of their 24 forced turnovers have come on their side of the field. It might seem like fool’s gold, luck or a dangerous way to play. But in a flukey statistic, the Bills are consistently among the NFL leaders under coach Sean McDermott. In fact, the Bills have 212 takeaways since 2017 and no other team in the league has 200. The Bills have finished in the top-10 in takeaways each year since 2018, finishing in the top-four since 2021. Meanwhile, Buffalo’s 130 interceptions since 2017 are one behind the New England Patriots, while finishing no worse than eighth since McDermott took over. “You get what you emphasize,” Babich said. “... I think what happens is kind of when you walk in this door, that standard is kind of like a cloud just sitting over the top of us of, they know, even in practice, as simple as it is, if we don’t take the ball away, we make sure we understand that that’s not good enough.” The #Bills won their fifth AFC East championship in a row, while the #Sabres followed three wins with four losses to remain predictably unpredictable. @billhoppe.bsky.social dig into it all. fireside.fm/episode/sMvb... [image or embed] Emphasis or not, it’s up to the players to force turnovers and a large piece of that comes down to the type of players the Bills place in their defense. Both McDermott and general manager Brandon Beane have spoken at length about finding football players with instincts rather than eye-popping workout results. When the Bills can’t draft those players, they find them in free agency or in the draft. Rapp had 10 takeaways in four seasons with the Los Angeles Rams, while cornerback Rasul Douglas had 11 in the 2 1⁄2 seasons with the Green Bay Packers before being traded to the Bills last season. There are some instincts that cannot be taught, but the Bills have been able to develop and strengthen instincts for players who are in the system for a longer period of time. The Bills teach players to be aware of the ball, to not just make a tackle, but swipe at the ball while doing so. In a scenario like Rapp’s forced fumble, the Bills teach players that the first man’s responsibility is to make a tackle and the second man goes for the ball. “I’d say for me, like, as far as, like, my mind being on the ball more often than it was when I was a younger player,” said Bills cornerback Taron Johnson, who has four forced fumbles in the last two seasons after recording four in his first five years combined. “So I’m looking for opportunities, more opportunities to take the ball away than I was when I was younger.” Turnover consistency has been steady despite the Bills slightly tweaking their defensive philosophy in recent years. During McDermott’s first five seasons, the Bills blitzed on more than 30% of passing plays and that number has dropped to 21.5% over the last three seasons, including 17.5% this year under Babich, the third-lowest rate in the league. Early in McDermott’s tenure, the Bills were one of the best teams in the league at disguising coverages, changing what the quarterback was seeing pre-snap compared to when he actually had the ball. They still do their share of disguising, but now the Bills try to attack the quarterback with four rushers and play a soft zone in the secondary until opponents cross midfield. “We always talk about rush and coverage working together,” Bills linebacker Terrel Bernard told GNN Sports. “So we do our part on the back end of disguising the picture or studying routes and understanding concepts that makes them hold it a little bit, which in turn gives the D-line a better chance to get back there and affect them. When that happens, then the ball comes to us.” If the Bills can affect the quarterback with four rushers, not only can they prevent more big plays, but more areas in the secondary are covered. But it’s not a simplistic defense, in fact, it’s one of the most complex in the NFL . Being comfortable with the different communications and disguises takes time. The Bills had the same safety pairing for most of McDermott’s first seven seasons and the system has largely been the same for his entire run. Even without Jordan Poyer and Micah Hyde (until Wednesday ) the Bills still had plenty of experience on defense. Fifteen players have been with the Bills at least three seasons, with eight having at least four. “The more comfortable you are in the system, the better you can disguise because you know your issues in certain defenses and certain coverages,” said Bills practice squad quarterback Mike White, who played against the Bills for three seasons with the Dolphins and Jets. “But it’s interesting. You know what they’re going to play, they know you know what they’re going to play, but they still do a good job of disguising and get you to just second-guess for a minute.” It’s a brand of defense many teams have adopted in the NFL, which is why rushing yards are up and passing yards are down. The Bills have given up the fewest 30-yard passes (79) and the fewest passes of 50 yards or more (14) since McDermott became coach. “That’s part of our philosophy and who we are,” said Bernard, who has nine takeaways in 26 games as a starter. “I think that standard has just been set since before I got here. So buying into that and believing that and I think everybody on this defense believes in that.” NOTES: WR Keon Coleman (wrist) and S Taylor Rapp (neck/shoulder) wore red non-contact jerseys and were limited in practice Thursday. ... TE Dalton Kincaid (knee), TE Quintin Morris (shoulder/groin) and WR Curtis Samuel (foot) were also limited.
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Movie Review: Nicole Kidman commands the erotic office drama 'Babygirl'DALLAS — The New York Yankees, wasting no time shrugging off the disappointment of Juan Soto’s defection , went shopping again, agreeing with left-handed starter Max Fried to an eight-year, $218 million contract, a person with direct knowledge of the contract told USA TODAY Sports. The person spoke on the condition of anonymity because the deal won’t become official until Fried passes his physical. The deal, which includes no deferrals or opt-outs, is the richest contract ever given to a left-handed pitcher, and the fourth-largest among all pitchers in history. The Yankees, who were left at the altar Sunday when Soto rejected their 16-year, $760 million contract and instead took $5 million more and a year less from the Mets, acted like they weren’t that all broken-hearted. They knew they had plenty of holes to fill and if they had signed Soto, they would have had no financial flexibility to fill their other needs. Follow every MLB game: Latest MLB scores, stats, schedules and standings. Now, they have one of the best lefties in baseball to go with ace Gerrit Cole, and have plenty of money left to find a third baseman, center fielder, first baseman and a reliever or too. The Yankees, according to one official, have expressed interest in potentially trading for St. Louis Cardinals third baseman Nolan Arenado, center fielder Cody Bellinger of the Chicago Cubs, and pursuing free agent first baseman Christian Walker and reliever Tanner Scott. And they still will have plenty of money left that wasn’t used to Soto. “Look, it's not going to stop us from hopefully going to put together another great team," Yankees manager Aaron Boone said Tuesday morning. “There's different ways of doing it. We don't even know which way that is this winter. You don't know how it's going to unfold, what free agents come into the mix, who you match up with, who you maybe match up with in a trade. That's the fun part about now and trying to make good evaluations and good decisions ultimately to put us in a good spot moving forward." That pain of losing Soto was certainly eased with the signing of Fried, 30, a two-time All-Star with a 2.81 ERA the past five years in Atlanta. The Yankees beat out the Boston Red Sox and Toronto Blue Jays in the bidding for Fried. “Our expectation is to still go out and build and put together a great team to go compete for a championship again next year,’’ Boone said. “That doesn't stop.’’ They certainly took a huge first step in doing just that while vying for their first World Series title since 2009. Follow Nightengale on X: @Bnightengale The USA TODAY app gets you to the heart of the news — fast . Download for award-winning coverage, crosswords, audio storytelling, the eNewspaper and more .
Giannis Antetokounmpo returns for Bucks after missing 1 game with knee swellingMONCTON, New Brunswick, Dec. 05, 2024 (GLOBE NEWSWIRE) -- Major Drilling Group International Inc. (“Major Drilling” or the “Company”) (TSX: MDI), a leading provider of specialized drilling services to the mining sector, today reported results for the second quarter of fiscal 2025, ended October 31, 2024. Quarterly Highlights: Revenue of $189.3 million, in line with the $190.0 million generated in fiscal Q1, but down 8.6% from $207.0 million in the same period last year. Adjusted gross margin (1) of 30.5%, consistent with the 31.0% achieved in the same period last year as the Company remained focused on higher-margin specialized drilling. EBITDA (1) of $38.7 million, down from $43.6 million in the same period last year. Net earnings of $18.2 million (or $0.22 per share), down from $23.7 million (or $0.29 per share) in the same period last year. Net cash (1) increased by $23.5 million to $100.4 million, enabling the Company to react to potential growth opportunities. Subsequent to quarter end, completed the acquisition of Explomin, a leading specialty drilling contractor based in Lima, Peru, for an up-front cash payment of US$63 million (approximately C$88 million). “For Q2 of fiscal 2025, Major Drilling’s globally diversified operations and reputation as the driller-of-choice enabled us to maintain our revenue run rate relative to fiscal Q1, despite challenging conditions in certain markets,” commented Mr. Denis Larocque, President & CEO of Major Drilling. “We were pleased once again by our Australasian and Chilean operations, which continue to offset lower activity levels in North America, primarily driven by lower junior exploration expenditures.” “The Company delivered solid financial results for the quarter, supported by an adjusted gross margin of 30.5%. This represented an increase from 28.9% in fiscal Q1 and is in line with the 31.0% achieved over the same period last year as the Company remains focused on profitable operations and our best-in-class specialized drilling services,” commented Ian Ross, CFO of Major Drilling. “As previously disclosed, our 2021 McKay acquisition successfully met all of the EBITDA milestones in the earnout period, with the final contingent payment of $9.1 million made during the quarter. We also continue to modernize our drill fleet, having spent $20.1 million in capex, which includes the addition of 5 new drills and support equipment, while disposing of 4 older, less efficient rigs, bringing Major Drilling’s total fleet to 610 drills. Given another strong operational performance, our net cash position increased to $100.4 million at quarter end, while we continue to retain an industry leading balance sheet, enabling the acquisition of Explomin in early fiscal Q3,” concluded Mr. Ross. “With McKay continuing to demonstrate strong results in Australasia since its acquisition in 2021, our focus now turns to the integration of Explomin – a leading South American driller with operations in Peru, Colombia, the Dominican Republic and Spain. I am excited to welcome Explomin and its employees to the Major Drilling team. Their long-standing reputation, strong base of senior mining customers, and focus on specialized drilling, with its well-maintained fleet of rigs, complement our existing operations and offer further potential growth opportunities in South America,” said Mr. Larocque. “As Peru has been on our radar for quite some time given its status as the second largest copper producer, Explomin solidifies our South American presence, supplementing our existing operations in Brazil, Chile, Argentina, and throughout the Guyana Shield.” “Looking ahead to our seasonally slower third quarter of fiscal 2025, we are expecting programs in North America to pause for the holiday period slightly earlier than in prior years, although this is expected to be partially offset by ongoing strength in Australia and Chile. While we will be adding revenue from the Explomin operations, we expect them to have the same usual seasonality as the rest of our South American operations. Demand from senior customers for calendar 2025 is expected to remain robust, while we are optimistic regarding the activity levels of juniors following a slight increase in financing activity. The combination of elevated commodity prices, translating to increased free cash flow generation for mining companies, coupled with depleted reserve bases, should lead to increases in demand for drilling services over the years to come.” “Our well-maintained fleet ensures that we retain utilization capacity which, combined with our optimal inventory levels and experienced crews, puts us in an excellent position to capitalize on these increased levels of demand for our drilling services. Our core strategy is to remain the leader in specialized drilling as new discoveries are made in increasingly challenging and remote locations. Our solid foundation, supplemented by ongoing technological innovation, puts us in an ideal position to take on these new and exciting challenges." “I’m extremely proud to announce that our Canadian team was recently awarded the Safe Day Every Day Gold Award by the Association for Mineral Exploration, Prospectors & Developers Association of Canada, and Canadian Diamond Drilling Association. Our Canadian team achieved over 1,146,000 hours without a lost time injury, an achievement that demonstrates our ongoing dedication to maintaining high safety standards across all projects around the world,” concluded Mr. Larocque. Finally, Major Drilling announces the resignation of Mr. Robert Krcmarov from the Board of Directors effective December 5, 2024, to focus on his new role as Chief Executive Officer of Hecla Mining Company. Kim Keating, Chair of the Board, commented: “On behalf of the Board and the leadership team at Major Drilling, I would like to congratulate Rob on this appointment, and thank him for his significant contributions during his tenure on the Board. Rob’s experience and insights were of great benefit to Major Drilling’s Board and leadership team. He was instrumental in the development of Major Drilling’s Decarbonization Action Plan and in strengthening the Company’s health and safety program, as well as his timely advice regarding the most recent acquisition of Explomin Perforaciones earlier this month. We thank Rob for his invaluable advice and wish him all the best in his new role leading Hecla Mining Company.” Second Quarter Ended October 31, 2024 Total revenue for the quarter was $189.3 million, down 8.6% from revenue of $207.0 million recorded in the same quarter last year. The foreign exchange translation impact on revenue and earnings, when comparing to the effective rates for the previous year, was minimal. Revenue for the quarter from Canada - U.S. drilling operations decreased by 20.0% to $85.4 million, compared to the same period last year. While senior and intermediate activity levels increased slightly, this only partially offset the decline in demand from juniors relative to the same period last year as they continued to face challenging financing opportunities. South and Central American revenue decreased by 6.5% to $49.1 million for the quarter, compared to the same quarter last year. While operations in Chile remain robust, this was offset by slowdowns in other parts of the region. Australasian and African revenue increased by 14.4% to $54.7 million, compared to the same period last year as demand for specialized drilling services in Australia and Mongolia continue to drive growth in the region. Gross margin percentage for the quarter was 23.4%, compared to 25.3% for the same period last year. Depreciation expense totaling $13.4 million is included in direct costs for the current quarter, versus $11.8 million in the same quarter last year. Adjusted gross margin, which excludes depreciation expense, was 30.5% for the quarter, compared to 31.0% for the same period last year. Adjusted gross margin remained relatively unchanged as the Company remains disciplined with respect to pricing. General and administrative costs were $18.4 million, an increase of $0.8 million compared to the same quarter last year. This increase primarily relates to inflationary wage adjustments. Other expenses were $2.5 million, down from $3.2 million in the same quarter last year due primarily to lower incentive compensation expenses given the decreased profitability. Foreign exchange gain was $0.5 million, compared to a loss of $0.9 million for the same quarter last year. While the Company's reporting currency is the Canadian dollar, various jurisdictions have net monetary assets or liabilities exposed to various other currencies. The income tax provision for the quarter was an expense of $6.5 million, compared to an expense of $7.4 million for the prior year period. The decrease from the prior year was driven by reduced profitability. Net earnings were $18.2 million or $0.22 per share ($0.22 per share diluted) for the quarter, compared to net earnings of $23.7 million or $0.29 per share ($0.29 per share diluted) for the prior year quarter. Non-IFRS Financial Measures The Company’s financial data has been prepared in accordance with IFRS, with the exception of certain financial measures detailed below. The measures below have been used consistently by the Company’s management team in assessing operational performance on both segmented and consolidated levels, and in assessing the Company’s financial strength. The Company believes these non-IFRS financial measures are key, for both management and investors, in evaluating performance at a consolidated level and are commonly reported and widely used by investors and lending institutions as indicators of a company’s operating performance and ability to incur and service debt, and as a valuation metric. These measures do not have a standardized meaning prescribed by IFRS and therefore may not be comparable to similarly titled measures presented by other publicly traded companies and should not be construed as an alternative to other financial measures determined in accordance with IFRS. EBITDA - earnings before interest, taxes, depreciation, and amortization: Adjusted gross profit/margin - excludes depreciation expense: Net cash – cash net of debt, excluding lease liabilities reported under IFRS 16 Leases: Forward-Looking Statements This news release includes certain information that may constitute “forward-looking information” under applicable Canadian securities legislation. All statements, other than statements of historical facts, included in this news release that address future events, developments, or performance that the Company expects to occur (including management’s expectations regarding the Company’s objectives, strategies, financial condition, results of operations, cash flows and businesses) are forward-looking statements. Forward-looking statements are typically identified by future or conditional verbs such as “outlook”, “believe”, “anticipate”, “estimate”, “project”, “expect”, “intend”, “plan”, and terms and expressions of similar import. All forward-looking information in this news release is qualified by this cautionary note. Forward-looking information is necessarily based upon various estimates and assumptions including, without limitation, the expectations and beliefs of management related to the factors set forth below. While these factors and assumptions are considered reasonable by the Company as at the date of this document in light of management’s experience and perception of current conditions and expected developments, these statements are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements and undue reliance should not be placed on such statements and information. Such forward-looking statements are subject to a number of risks and uncertainties that include, but are not limited to: the level of activity in the mining industry and the demand for the Company’s services; competitive pressures; global and local political and economic environments and conditions; the level of funding for the Company’s clients (particularly for junior mining companies); the Company’s dependence on key customers; the integration of business acquisitions and the realization of the intended benefits of such acquisitions; efficient management of the Company’s growth; exposure to currency movements (which can affect the Company’s revenue in Canadian dollars); currency restrictions; safety of the Company’s workforce; risks and uncertainties relating to climate change and natural disaster; the geographic distribution of the Company’s operations; the impact of operational changes; changes in jurisdictions in which the Company operates (including changes in regulation); failure by counterparties to fulfill contractual obligations; disease outbreak; as well as other risk factors described under “General Risks and Uncertainties” in the Company’s MD&A for the year ended April 30, 2024, available on the SEDAR+ website at www.sedarplus.ca . Should one or more risk, uncertainty, contingency, or other factor materialize or should any factor or assumption prove incorrect, actual results could vary materially from those expressed or implied in the forward-looking information. Forward-looking statements made in this document are made as of the date of this document and the Company disclaims any intention and assumes no obligation to update any forward-looking statement, even if new information becomes available, as a result of future events, or for any other reasons, except as required by applicable securities laws. About Major Drilling Major Drilling Group International Inc. is the world’s leading provider of specialized drilling services primarily serving the mining industry. Established in 1980, Major Drilling has over 1,000 years of combined experience and expertise within its management team. The Company maintains field operations and offices in North America, South America, Australia, Asia, Africa, and Europe. Major Drilling provides a complete suite of drilling services including surface and underground coring, directional, reverse circulation, sonic, geotechnical, environmental, water-well, coal-bed methane, shallow gas, underground percussive/longhole drilling, surface drill and blast, a variety of mine services, and ongoing development of data-driven, high-tech drillside solutions. Webcast/Conference Call Major Drilling Group International Inc. will provide a simultaneous webcast and conference call to discuss its quarterly results on Friday, December 6, 2024 at 8:00 AM (EST). To access the webcast, which includes a slide presentation, please go to the investors/webcasts section of Major Drilling’s website at www.majordrilling.com and click on the link. Please note that this is listen-only mode. To participate in the conference call, please dial 416-340-2217, participant passcode 4769038# and ask for Major Drilling’s Second Quarter Results Conference Call. To ensure your participation, please call in approximately five minutes prior to the scheduled start of the call. For those unable to participate, a taped rebroadcast will be available approximately one hour after the completion of the call until Monday, January 6, 2025. To access the rebroadcast, dial 905-694-9451 and enter the passcode 1708283#. The webcast will also be archived for one year and can be accessed on the Major Drilling website at www.majordrilling.com. For further information: Ryan Hanley Director, Corporate Development & Investor Relations Tel: (506) 857-8636 Fax: (506) 857-9211 ir@majordrilling.com MAJOR DRILLING GROUP INTERNATIONAL INC. NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE AND SIX MONTHS ENDED OCTOBER 31, 2024 AND 2023 (UNAUDITED) (in thousands of Canadian dollars, except per share information) 1. NATURE OF ACTIVITIES Major Drilling Group International Inc. (the “Company”) is incorporated under the Canada Business Corporations Act and has its head office at 111 St. George Street, Moncton, NB, Canada. The Company’s common shares are listed on the Toronto Stock Exchange (“TSX”). The principal source of revenue consists of contract drilling for companies primarily involved in mining and mineral exploration. The Company has operations in North America, South America, Australia, Asia, and Africa. 2. BASIS OF PRESENTATION Statement of compliance These Interim Condensed Consolidated Financial Statements have been prepared in accordance with IAS 34 Interim Financial Reporting (“IAS 34”) as issued by the International Accounting Standards Board (“IASB”) and using the accounting policies as outlined in the Company’s annual Consolidated Financial Statements for the year ended April 30, 2024. On December 5, 2024, the Board of Directors authorized the financial statements for issue. Basis of consolidation These Interim Condensed Consolidated Financial Statements incorporate the financial statements of the Company and entities controlled by the Company. Control is achieved when the Company is exposed or has rights to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. The results of subsidiaries acquired or disposed of during the period are included in the Consolidated Statements of Operations from the effective date of acquisition or up to the effective date of disposal, as appropriate. Intercompany transactions, balances, income and expenses are eliminated on consolidation, where appropriate. Basis of preparation These Interim Condensed Consolidated Financial Statements have been prepared based on the historical cost basis, except for certain financial instruments that are measured at fair value, using the same accounting policies and methods of computation, with the exception of those detailed in note 4 below, as presented in the Company’s annual Consolidated Financial Statements for the year ended April 30, 2024. 3. APPLICATION OF NEW AND REVISED IFRS ® ACCOUNTING STANDARDS The Company has not applied the following IASB standard amendment and standard that have been issued, but are not yet effective: IAS 21 (as amended in 2023) - The Effect of Changes in Foreign Exchange Rates - effective for periods beginning on or after January 1, 2025, with earlier application permitted. The amendments contain guidance to specify when a currency is exchangeable and how to determine the exchange rate when it is not. IFRS 18 (as issued in 2024) - Presentation and Disclosure of Financial Statements - effective for periods beginning on or after January 1, 2027, with earlier application permitted. The standard replaces IAS 1, Presentation of Financial Statements, and includes requirements for the presentation and disclosure of information in financial statements. The Company is currently in the process of assessing the impact the adoption of the above amendment and standard will have on the Consolidated Financial Statements. 4. MATERIAL ACCOUNTING POLICIES With the exception of the policy detailed below, all accounting policies and methods of computation remain the same as those presented in the Company's annual Consolidation Financial Statements for the year ended April 30, 2024. Investment in associate Associates are companies that the Company has significant influence over and are accounted for under the equity method. Significant influence is the power to participate in the financial and operating policy decisions of the investee, but is not control or joint control over those policies. Significant influence is presumed when the Company has an ownership interest greater than 20%, unless certain qualitative factors overcome this assumption. In assessing significant influence and the ownership interest, potential voting or other rights that are currently exercisable are taken into consideration. Investments in associates are accounted for using the equity method and are initially recognized at cost, inclusive of transaction costs. The Interim Condensed Consolidated Financial Statements include the Company's share of the income or loss and equity movement of equity accounted associates. The Company does not recognize losses exceeding the carrying value of its interest in the associate. 5. KEY SOURCES OF ESTIMATION UNCERTAINTY AND CRITICAL ACCOUNTING JUDGMENTS The preparation of financial statements, in conformity with IFRS, requires management to make judgments, estimates and assumptions that are not readily apparent from other sources, which affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods. Significant areas requiring the use of management estimates relate to the useful lives of property, plant and equipment for depreciation purposes, inventory valuation, determination of income and other taxes, recoverability of deferred income tax assets, assumptions used in compilation of share-based payments, provisions, contingent considerations, impairment testing of goodwill and intangible assets and long-lived assets. The Company applied judgment in determining the functional currency of the Company and its subsidiaries, the determination of cash-generating units (“CGUs”), the degree of componentization of property, plant and equipment, the recognition of provisions, the determination of the probability that deferred income tax assets will be realized from future taxable earnings, and the determination of whether the Company exerts significant influence with respect to its investment in associate under the equity accounting method. 6. SEASONALITY OF OPERATIONS The third quarter (November to January) is normally the Company’s weakest quarter due to the shutdown of mining and exploration activities, often for extended periods over the holiday season. 7. PROPERTY, PLANT AND EQUIPMENT Capital expenditures for the three and six months ended October 31, 2024 were $20,073 (2023 - $17,443) and $41,324 (2023 - $33,717). The Company did not obtain direct financing for the three and six months ended October 31, 2024 or 2023. 8. INVESTMENT IN ASSOCIATE On July 22, 2024, the Company purchased shares in DGI Geoscience Inc. (“DGI”) for $15,000 in cash consideration, a 39.8% equity interest (that provides the Company with 42.3% of the voting rights). DGI and its subsidiaries are privately held entities, headquartered in Canada, focused on downhole survey and imaging services as well as using artificial intelligence for logging scanned rock samples. In addition to the equity interest, Major Drilling's representation on the DGI Board of Directors gives the Company significant influence over DGI. While there are special approval rights granted to the Company as part of the investment, these are more protective in nature and therefore, would not result in control, or joint control of DGI. As a result, the Company concluded that the equity method of accounting is appropriate for its investment in DGI. During the prior quarter, the Company incurred costs of $205 for this investment, relating to external legal fees and due diligence costs. These amounts have been recorded as part of the cost of the investment in associate in the Interim Condensed Consolidated Balance Sheets. In the current quarter, the Company's earnings from investment in associate is $27. 9. SHARE BUYBACK During the prior year, for the three and six months ended October 31, 2023, the Company repurchased 875,268 and 1,020,568 common shares, respectively, at an average price of $8.31 and $8.40, respectively, under its Normal Course Issuer Bid. 10. EXPENSES BY NATURE Direct costs by nature are as follows: General and administrative expenses by nature are as follows: 11. INCOME TAXES The income tax provision for the periods can be reconciled to accounting earnings before income tax as follows: The Company periodically assesses its liabilities and contingencies for all tax years open to audit based upon the latest information available. For those matters where it is probable that an adjustment will be made, the Company records its best estimate of these tax liabilities, including related interest charges. Inherent uncertainties exist in estimates of tax contingencies due to changes in tax laws. While management believes they have adequately provided for the probable outcome of these matters, future results may include favourable or unfavourable adjustments to these estimated tax liabilities in the period the assessments are made, or resolved, or when the statutes of limitations lapse. 12. EARNINGS PER SHARE All of the Company’s earnings are attributable to common shares, therefore, net earnings are used in determining earnings per share. The calculation of diluted earnings per share for the three and six months ended October 31, 2024 excludes the effect of 200,000 options for both periods (2023 - 297,000 and 205,000, respectively) as they were not in-the-money. The total number of shares outstanding on October 31, 2024 was 81,842,086 (2023 - 82,093,486). 13. SEGMENTED INFORMATION The Company’s operations are divided into the following three geographic segments, corresponding to its management structure: Canada - U.S.; South and Central America; and Australasia and Africa. The services provided in each of the reportable segments are essentially the same. The accounting policies of the segments are the same as those described in the Company’s annual Consolidated Financial Statements for the year ended April 30, 2024. Management evaluates performance based on earnings from operations in these three geographic segments before finance costs, general corporate expenses and income taxes. Data relating to each of the Company’s reportable segments is presented as follows: *Canada - U.S. includes revenue of $25,695 and $34,074 for Canadian operations for the three months ended October 31, 2024 and 2023, respectively and $57,543 and $70,762 for the six months ended October 31, 2024 and 2023, respectively. **General and corporate expenses include expenses for corporate offices and stock-based compensation. *Canada - U.S. includes property, plant and equipment as at October 31, 2024 of $64,041 (April 30, 2024 - $62,991) for Canadian operations. 14. FINANCIAL INSTRUMENTS Fair value The carrying values of cash, trade and other receivables, demand credit facilities and trade and other payables approximate their fair value due to the relatively short period to maturity of the instruments. The carrying value of contingent consideration and long-term debt approximates their fair value as the interest applicable is reflective of fair market rates. Financial assets and liabilities measured at fair value are classified and disclosed in one of the following categories: Level 1 - quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 - inputs other than quoted prices included in level 1 that are observable for the assets or liabilities, either directly (i.e., as prices) or indirectly (i.e., derived from prices); and Level 3 - inputs for the assets or liabilities that are not based on observable market data (unobservable inputs). The Company enters into certain derivative financial instruments to manage its exposure to market risks, comprised of share-price forward contracts with a combined notional amount of $8,654, maturing at varying dates through June 2027. The fair value hierarchy requires the use of observable market inputs whenever such inputs exist. A financial instrument is classified to the lowest level of the hierarchy for which a significant input has been considered in measuring fair value. The Company’s derivatives, with fair values as follows, are classified as level 2 financial instruments and recorded in trade and other receivables (payables) in the Interim Condensed Consolidated Balance Sheets. There were no transfers of amounts between level 1, level 2 and level 3 financial instruments for the three and six months ended October 31, 2024. Credit risk As at October 31, 2024, 96.1% (April 30, 2024 - 95.9%) of the Company’s trade receivables were aged as current and 3.5% (April 30, 2024 - 3.5%) of the trade receivables were impaired. The movements in the allowance for impairment of trade receivables during the periods were as follows: Foreign currency risk As at October 31, 2024, the most significant carrying amounts of net monetary assets and/or liabilities (which may include intercompany balances with other subsidiaries) that: (i) are denominated in currencies other than the functional currency of the respective Company subsidiary; and (ii) cause foreign exchange rate exposure, including the impact on earnings before income taxes (“EBIT”), if the corresponding rate changes by 10%, are as follows (in $000s CAD): Liquidity risk The following table details contractual maturities for the Company’s financial liabilities: 15. SUBSEQUENT EVENT On November 5, 2024, the Company completed the purchase of all of the issued and outstanding shares of Explomin Perforaciones ("Explomin"), a leading specialty drilling contractor based in Lima, Peru. This acquisition provides Major Drilling with increased exposure to the copper market as Explomin is one of the largest South American drilling contractors, with the majority of their operations in Peru, while also servicing markets in Colombia, Dominican Republic, and Spain. The purchase price for the acquisition is valued at an amount up to US$85 million, consisting of: (i) a cash payment of US$63 million payable on closing, subject to working capital adjustments; and (ii) an earnout of up to US$22 million payable in cash over the next three years, based on the achievement of certain milestones. The cash portion of the purchase price has been funded from Major Drilling’s cash and existing debt facilities.
Hurricanes visit the Panthers in Eastern Conference action
Advisors Asset Management Inc. Purchases 478 Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO)The demands of achieving both one-day shipping and a satisfying orgasm collide in Halina Reijn’s “Babygirl,” a kinky and darkly comic erotic thriller about sex in the Amazon era. Nicole Kidman stars as Romy Mathis, the chief executive of Tensile, a robotics business that pioneered automotive warehouses. In the movie’s opening credits, a maze of conveyor belts and bots shuttle boxes this way and that without a human in sight. Romy, too, is a little robotic. She intensely presides over the company. Her eyes are glued to her phone. She gets Botox injections, practices corporate-speak presentations (“Look up, smile and never show your weakness”) and maintains a floor-through New York apartment, along with a mansion in the suburbs that she shares with her theater-director husband ( Antonio Banderas ) and two teenage daughters (Esther McGregor and Vaughan Reilly). But the veneer of control is only that in “Babygirl,” a sometimes campy, frequently entertaining modern update to the erotically charged movies of the 1990s, like “Basic Instinct” and “9 1⁄2 Weeks.” Reijn, the Danish director of “Bodies Bodies Bodies” has critically made her film from a more female point of view, resulting in ever-shifting gender and power dynamics that make “Babygirl” seldom predictable — even if the film is never quite as daring as it seems to thinks it is. The opening moments of “Babygirl,” which A24 releases Wednesday, are of Kidman in close-up and apparent climax. But moments after she and her husband finish and say “I love you,” she retreats down the hall to writhe on the floor while watching cheap, transgressive internet pornography. The breathy soundtrack, by the composer Cristobal Tapia de Veer, heaves and puffs along with the film's main character. One day while walking into the office, Romy is taken by a scene on the street. A violent dog gets loose but a young man, with remarkable calmness, calls to the dog and settles it. She seems infatuated. The young man turns out to be Samuel (Harris Dickinson), one of the interns just starting at Tensile. When they meet inside the building, his manner with her is disarmingly frank. Samuel arranges for a brief meeting with Romy, during which he tells her, point blank, “I think you like to be told what to do.” She doesn't disagree. Some of the same dynamic seen on the sidewalk, of animalistic urges and submission to them, ensues between Samuel and Romy. A great deal of the pleasure in “Babygirl” comes in watching Kidman, who so indelibly depicted uncompromised female desire in Stanley Kubrick’s “Eyes Wide Shut,” again wade into the mysteries of sexual hunger. “Babygirl,” which Reijn also wrote, is sometimes a bit much. (In one scene, Samuel feeds Romy saucers of milk while George Michael’s “Father Figure” blares.) But its two lead actors are never anything but completely magnetic. Kidman deftly portrays Romy as a woman falling helplessly into an affair; she both knows what she’s doing and doesn’t. Dickinson exudes a disarming intensity; his chemistry with Kidman, despite their quickly forgotten age gap, is visceral. As their affair evolves, Samuel’s sense of control expands and he begins to threaten a call to HR. That he could destroy her doesn’t necessarily make Romy any less interested in seeing him, though there are some delicious post-#MeToo ironies in their clandestine CEO-intern relationship. Also in the mix is Romy’s executive assistant, Esme (Sophie Wilde, also very good), who's eager for her own promotion. Where “Babygirl” heads from here, I won’t say. But the movie is less interested in workplace politics than it is in acknowledging authentic desires, even if they’re a little ludicrous. There’s genuine tenderness in their meetings, no matter the games that are played. Late in the film, Samuel describes it as “two children playing.” As a kind of erotic parable of control, “Babygirl” is also, either fittingly or ironically, shot in the very New York headquarters of its distributor, A24. For a studio that’s sometimes been accused of having a “house style,” here’s a movie that goes one step further by literally moving in. What about that automation stuff earlier? Well, our collective submission to digital overloads might have been a compelling jumping-off point for the film, but along the way, not every thread gets unraveled in the easily distracted “Babygirl.” Saucers of milk will do that. “Babygirl,” an A24 release, is rated R by the Motion Picture Association for “strong sexual content, nudity and language.” Running time: 114 minutes. Three stars out of four.Uwill Founder & CEO Michael London Named Innovator in Healthcare
Global stocks mostly fall ahead of ECB, US inflation data