On Monday, shares of Suncor Energy Inc. (USA)(NYSE:SU), included 2.91% and shut at $31.84 inside the end purchasing and offering session. The last exchanging scope of the stock ranges amongst $31.38 and $31.93. Suncor released its 2017 corporate guidance recently which includes a capital spending program of between $4.8 billion and $5.2 billion and average production of 680,000 to 720,000 barrels of oil equivalent per day (boe/d). The midpoints of these ranges represent a year over year increase to production of more than 13 per cent and a reduction to capital spending of about $1 billion even with a full year of raised Syncrude ownership.
The guidance includes a projected Suncor Oil Sands operations cash operating costs per barrel range of $24.00 – $27.00 influenced by about $1.00 per barrel year over year as a result of assumed rising natural gas prices. The midpoint of the range represents a 37 per cent reduction since 2011. Syncrude cash operating costs per barrel are expected to be $32.00 – $35.00, also reflecting continued improvement over previous years.
Shares of China Natural Resources Inc (NASDAQ:CHNR), added 53.19% and shut at $3.60 inside the last exchanging session. The rest of the purchasing and offering scope of the stock levels among $2.40 and $4.25. The association’s commercial center capitalization is $85.87 Billion with the general uncommon loads of 24.91 million. CHINA NATURAL RESOURCES, INC. (CHNR), a company based in the People’s Republic of China, recently released unaudited interim financial information for the three and six months ended June 30, 2016.
Mr. Edward Wong, the Company’s Chairman and CEO, commented on the 2016 interim results: “While exploration of additional mineable ore at Yangchong Mine is in progress, the Group has decided to continue the temporary suspension of mining and sales operations as the current market price of iron concentrates remains too low for economically viable operations. The sales price of iron concentrates has been improving in 2016 and we expect to resume our sales operations when the price rebounds to an acceptable level. We continue to explore opportunities to acquire other projects in China that can generate cash and add value to our shareholders.”