West Face Capital Inc

Type: Company

Name: West Face Capital Inc

First reported May 15 2013 - Updated May 15 2013 - 1 reports

Form 13F-HR WEST FACE CAPITAL INC. For: Mar 31

StreetInsider.com - Form 13F-HR WEST FACE CAPITAL INC. For: Mar 31 ... [Published Street Insider - May 15 2013]

Entities: West Face Capital Inc

First reported Mar 06 2013 - Updated Mar 07 2013 - 1 reports

First Nickel borrows $5-million (U.S.) from West Face

First Nickel Inc. has entered into a loan agreement with a fund managed by West Face Capital Inc. in the aggregate principal amount of $5.0-million (U.S.). The Loan matures on December 31, 2013 and the proceeds will be used for working capital and corporate ... [Published Stockwatch - Mar 06 2013]

Entities: First Nickel Inc, Security Interest, West Face Capital Inc, United States

Quotes

Mr. Thomas Boehlert, President and CEO of FNI said, "Attaining full production in the first quarter at the Lockerby Mine marks a significant achievement for the Company, and coupled with the completion of the refinancing, sets the stage to move the Company forward. The Lockerby operations team demonstrated their strong commitment by exceeding production expectations while at the same time, maintaining a safe environment. Recognizing the challenging metal price environment, the Company is actively identifying opportunities to reduce expenditures and ensure that Lockerby's full potential is realized."

First Nickel loses $895,415 in fiscal Q1 2013 [Published Stockwatch - May 15 2013]

Michael Starzer, Bonanza Creek's President and Chief Executive Officer, commented, "The first quarter results were as expected and we reiterate our full year guidance of approximately 60% year over year production growth. The driver for the positive results this quarter was again the strong oily production achieved in the Wattenberg Field and Mid-Continent region. Our crude oil and liquids volumes accounted for approximately 72% of production and 89% of revenues. We are looking forward to continued execution of our 2013 development plan, having increased to four horizontal rigs in March and targeting to achieve approximately eight completions per month in the Wattenberg Field by the end of second quarter. I am pleased with the Company's progress drilling our exciting catalyst wells and look forward to sharing more detailed results in subsequent operations updates. Finally, in April, we closed on our inaugural debt offering, upsizing to $300 million of senior unsecured notes at 6.75%, a record low rate for a first time single B E&P issuer. We believe we are well capitalized with substantial liquidity for continued growth."

Bonanza Creek Energy Announces First Quarter 2013 Operational and Financial Results [Published TD Ameritrade - May 09 2013]

Mr. Thomas M Boehlert, President and CEO of FNI, commented, "FNI achieved a number of important milestones in 2012. The Lockerby Mine successfully achieved commercial production and demonstrated the ability to increase the production rate towards our goal of 10 million pounds of payable nickel and 7 million pounds of payable copper per year. While we did not achieve our target of full production by the end of 2012, we are confident full production will be reached in the first quarter of 2013. These results were achieved through the dedication of our operating and management teams. Since the end of the year, the Company has improved its financial liquidity through arranging $15 million in additional financing and agreeing to extend its debt maturity dates from December 2013 to March 2015. This financing underpins our plans to fully develop the Lockerby mine and grow the company to increase shareholder value."

First Nickel loses $36.32-million in 2012 [Published Stockwatch - Apr 03 2013]

More Content

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First Nickel loses $895,415 in fiscal Q1 2013 [Published Stockwatch - May 15 2013]
Form 13F-HR WEST FACE CAPITAL INC. For: Mar 31 [Published Street Insider - May 15 2013]
Daniel Desjardins to receive Lifetime Achieveme... [Published Financial Post \| Business » Legal Post - May 15 2013]
Bonanza Creek Energy Announces First Quarter 20... [Published TD Ameritrade - May 09 2013]
First Nickel Completes Refinancing [Published Marketwire - Breaking News Releases - Apr 08 2013]
First Nickel loses $36.32-million in 2012 [Published Stockwatch - Apr 03 2013]
First Nickel to restructure debt by increasing ... [Published Stockwatch - Apr 01 2013]
First Nickel Inc. Announces Restructuring of In... [Published Marketwire - Breaking News Releases - Apr 01 2013]
First Nickel borrows $5-million (U.S.) from Wes... [Published Stockwatch - Mar 06 2013]
FNI Arranges Additional US$5.0 Million Loan [Published Marketwire - Breaking News Releases - Mar 06 2013]
Will Safeway’s Q4 Revenue Bring Peace Of Mind T... [Published Wall St. Cheat Sheet - Feb 21 2013]

Blogs

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Daniel Desjardins to receive Lifetime Achieveme... [Published Financial Post \| Business » Legal Post - May 15 2013] Daniel Desjardins, senior vice president and general counsel of Bombardier Inc., will receive the Lifetime Achievement honor at the 2013 Canadian General Counsel Awards in June. The CGCAs, which salute Canada’s best in-house lawyers, were founded by ...
Will Safeway’s Q4 Revenue Bring Peace Of Mind T... [Published Wall St. Cheat Sheet - Feb 21 2013] Safeway Inc. ( NYSE:SWY ) reported a fourth quarter revenue of $13.8 billion and a consensus of $13.7 billion. They have also announced an identical-store sales increase of 0.8% excluding fuel, a figure which was negatively impacted by a calendar shift ...

Press Releases

sort by: Date \| Relevance
First Nickel Completes Refinancing [Published Marketwire - Breaking News Releases - Apr 08 2013]
First Nickel Inc. Announces Restructuring of In... [Published Marketwire - Breaking News Releases - Apr 01 2013]
FNI Arranges Additional US$5.0 Million Loan [Published Marketwire - Breaking News Releases - Mar 06 2013]