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Great Panther to Sell Mexican Mining Assets in $14.7M Deal

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Great Panther Mining (NYSE:GPL) +12.2% post-market after saying Wednesday it agreed to sell the Guanajuato mine complex, the Topia mine, and the El Horc?n and Santa Rosa projects, all located in Mexico, to Guanajuato Silver Company for $14.7M plus up to $2M in potential additional payments.

Great Panther (GPL) said the sale of the Mexican mines will allow it to focus on maximizing the full potential of the Tucano gold mine in Brazil and complete the pivot to gold started in 2019.

The company said it expects Tucano will return to steady-state production in this year’s H2 and plans to continue investing to unlock value both from the underground as well as the regional potential of the district.

While production is expected to rise sharply in H2, Great Panther (GPL) “will still have some of the weakest margins sector-wide, making it much higher risk than its junior producer peers,” Taylor Dart writes in an analysis published recently on Seeking Alpha.

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Source Here: seekingalpha.com

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Lumber Futures Rise As Canada Cuts Wood Production

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CBOT lumber futures rose (LB1:COM) for the third straight session on Wednesday to $601.80 per 1,000 board feet, the highest intraday price since July 22, as supply cuts from a top Canadian producer outweigh rising interest rates that are hurting housing markets.

West Fraser Timber (WFG) announced production cuts at two British Columbia sawmills, equivalent to 2.5% of its total North American capacity, and it is cutting plywood output at another facility.

Other potentially relevant tickers include (WY), (LPX), (PCH), (RFP), (OTCPK:CFPZF), (OTCPK:IFSPF), (OTCPK:WFSTF)

ETFs: (NYSEARCA:XHB), (NASDAQ:WOOD), (CUT), (NAIL)

U.S. builders obtain more than 25% of their lumber from Canada, which is the world’s largest exporter of softwood lumber.

This year’s surge in borrowing costs caused ~60K deals for home sales in the U.S. to fall through in June.

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Original Post: seekingalpha.com

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CVS Health Tried to Acquire One Medical Before Amazon Eventually Did – Bloomberg

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Original Source: seekingalpha.com

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Recipe Gone Wrong: Domino’s Calls It Quits in Italy

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Seven years after entering the Italian market, Domino’s (NYSE:DPZ) is closing up shop in the homeland of pizza. While the company had already stopped offering delivery from its website on July 29, the last of its 29 local branches just shuttered their doors. Social media is abuzz on the news, with some likening the situation to selling ice in the North Pole, or how the chain could compare their pizza to an authentic Napoletana.

History: Domino’s (DPZ) opened its first outlet in Milan in 2015, via a franchising agreement with a local business called ePizza SpA. At the time, it said it hoped to win over Italian palates with “purely Italian” ingredients like Prosciutto di Parma, Gorgonzola, Grana Padano and Mozzarella di bufala Campana. The biggest catch was a national home delivery model that could take on local artisanal shops and provide an alternative to Italy’s dining out culture.

Cracks in the plan first emerged during the pandemic, especially as delivery became essential during coronavirus lockdowns. Many of the “mom & pop” restaurants went online, allowing buyers to order quality products and gourmet items straight to their homes. As takeout and delivery models were adopted, increased competition was also seen from a rising number of online platforms like Deliveroo, Glovo or Just Eat Takeaway.com.

Go deeper: ePizza borrowed heavily for plans to open over 800 Italian stores through 2030, attempting to land a 2% stake of the national pizza market. As recently as April, it filed for protection from creditors, and while the motion was granted for an initial 90 days, there have been no further updates on the court process. According to the latest audited reports, ePizza had EUR10.6M of debt at the end of 2020, but has since been running out of cash and faltering on its debt obligations.

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Original Source: seekingalpha.com

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