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Mining & Metals
Troilus Mining Upsizes Debt Financing Mandate for up to US$1.2 Billion
Troilus Mining (TLG.TO) increased its previously announced debt financing mandate from up to US$1.0 billion to up to US$1.2 billion.The upsizing reflects "continued strong lender support and advancing progress toward a fully funded construction package for the Troilus copper-gold project, located in north-central Quebec, Canada," it said.The financing is being led by a syndicate of leading global financial institutions, including Societe Generale, KfW IPEX-Bank, and Export Development Canada, and is expected to form the cornerstone of the project's overall financing structure, the company added.Shares of the company closed down 1.2% to $1.59 on Monday on the Toronto Stock Exchange.
$TLG.TO
Research
Research Alert: Idexx Posts Solid Q1 Fueled By Innovation And Strong Cag Group Performance
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:IDEXX posted strong Q1 results with EPS of $3.47 (+17% Y/Y), beating expectations by $0.06, while revenue reached $1.141B (+14% Y/Y), $30M above consensus. CAG Diagnostics recurring revenue grew 14% Y/Y to $920M, demonstrating resilient demand for core diagnostic solutions. Operating margin expanded 10 bps to 31.8%, supported by strong recurring revenue gains and operational productivity initiatives. International markets showed particular strength with CAG revenue growing 22.7% compared to 11% domestically, highlighting successful global expansion efforts, in our view. The 12% expansion in the global premium instrument installed base and 20% growth in VetLab consumables underscore continued innovation adoption. Management raised the full-year 2026 guidance, reflecting confidence in the business trajectory, in our view: IDXX sees 2026 sales in the range of $4.675B-4.760B vs. prior $4.632B-$4.720B, representing +8.6%-10.6% Y/Y growth and EPS of $14.45-$14.90 vs. prior $14.29-$14.80, reflecting +11%-14% Y/Y.
$IDXX
Commodities
Marathon Petroleum Q1 Refining Inputs Flat, Midstream Throughputs Down
US downstream and midstream energy company Marathon Petroleum (MPC) Tuesday reported its Q1 results, showing relatively steady refining inputs and a decline in pipeline and terminal throughputs.For the quarter ended March 31, net refinery throughputs were largely unchanged from a year earlier at around 2.9 million barrels per day. Crude oil capacity utilization also remained flat at 89%, with crude oil refining capacity little changed at about 3.0 million barrels per calendar day.On the Gulf Coast, net refinery throughput rose year over year to 1.21 mmbbls/d from 1.16 mmbbls/d. On the West Coast, throughput also climbed to 529,000 barrels per day from 504,000 b/d.However, lower refinery inputs in Mid-Continent offset these increases. Net refinery throughput in the region dropped to 1.1 mmbbls/d from 1.2 mmbbls/d.During the period, the company's refining segment processed 48% sour crude oil and 52% sweet crude oil. This compares with the previous year's mix of 46% sour and 54% sweet crude.The company projects refinery throughputs will increase to about 3 mmbbls/d in Q2.In the midstream segment, the company saw pipeline throughputs declining year over year to 5.8 mmbbls/d from 6.0 mmbbls/d. Terminal throughputs also dropped to 3.0 mmbbls/d from 3.1 mmbbls/d.At the same time, gathering system throughputs eased to 6.49 million cubic feet per day from 6.52 mcf/d, and natural gas processed fell to 9.4 mcf/d from 9.8 mcf/d.The company also said its renewable diesel business posted a lower utilization level due to planned downtime at the Martinez Renewables joint venture facility, which weighed on the segment margin.
$MPC