-- Alembic Pharmaceuticals (NSE:APLLTD, BOM:506235) has established a subsidiary called Alembic Lifesciences Philippines Inc. in the Philippines, according to a Wednesday filing to the Indian stock exchanges.
Shares of the company rose over 2% in Thursday's trading.
The company will hold a 99.99% stake in the new entity, which will focus on marketing and distribution of pharmaceutical products in the region, the filing said.
Fortuna Mining Corp. (NYSE: FSM and TSX: FVI) was down 1.5% in US premarket trade Thursday after it provided an updated consolidated Mineral Reserve and Mineral Resource estimates for its operating mines and projects in West Africa and Latin America.Mineral Reserves increased by 15% year-over-year, after accounting for production related depletion, Fortuna said in a statement.An updated estimate for Seguela as of March 31, 2026, reported an increase of 34% in underground Mineral Reserves and a 55% increase in Inferred Mineral Resources for the Sunbird deposit "as a result of the successful infill and exploration drilling program executed in the second half of 2025", the company added.Among highlights, Consolidated Proven and Probable Mineral Reserves are reported containing 3.0 million gold equivalent ounces representing a year-over-year increase of 15%, the company said. Changes are due to the upgrading of resources to reserves representing 819,000 GEOs, primarily at Seguela, offset by production related depletion of 378,000 GEOs, it added.Consolidated Measured and Indicated Resources exclusive of Mineral Reserves are reported containing 2.1 million GEOs representing a year-over-year increase of 56%, Fortuna said. Primary drivers for the net increase are the result of drilling at Diamba Sud, upgrading 781,000 GEOs, a 165% increase, offset by the upgrading of resources to reserves at Seguela, it added.Consolidated Inferred Mineral Resources are reported containing 2.2 million GEOs representing a year-over-year increase of 4%, the company said. The change is the result of drilling discovering 726,000 GEOs counteracting the impact of upgrading 628,000 GEOs, it added.Underground Mineral Reserves for Seguela's Sunbird deposit are reported as 4.4 Mt averaging 3.80 g/t Au containing 539,000 ounces of gold, an increase of 34% to its maiden estimate, Fortuna said. Inferred Mineral Resources are reported as 2.9 Mt averaging 4.45 g/t Au containing 417,000 ounces of gold, a 55% increase, it added.Diamba Sud's feasibility study remains on track for first-time reporting of Mineral Reserves in support of a construction decision by the end of this quarter, the company said.Mineral Reserves are estimated using a gold price of US$2,300/oz and Mineral Resources are estimated using a gold price of $2,600/oz, except for the Diamba Sud Project where Mineral Resources are estimated using a gold price of $3,300/oz, the company noted.Shares in Fortuna were up 2.75% in Canada and 2.7% in the U.S. yesterday.
Malaysian shares ended in green on Thursday, bucking a downbeat regional trend. The investor sentiment rebounded following the extended ceasefire between US and Iran.The FTSE Bursa Malaysia KLCI gained 11.31 points to end 0.7% higher at 1,721.70. The day range was between 1,714.41 and 1,723.51.In local news, Malaysia does not own the 200 million liters of diesel bound for Australia, government-owned Bernama reported, citing Communications Minister Fahmi Fadzi. Fadzi said the diesel belongs to an international company that uses Malaysia as a storage hub, and is not Malaysian-produced diesel.In corporate news, Glass Lewis issued a controversy alert for PPB Group (KLSE:PPB) ahead of its May 14 AGM, citing governance and ESG concerns tied to Wilmar International. The alert follows a 4.17 billion ringgit impairment on PPB's Wilmar investment, which led to a group-level net loss. The write-down reflects regulatory, legal and compliance risks in Indonesia and weaker conditions in China, raising concerns over Wilmar's future earnings contribution.Shares of Leform (KLSE:LEFORM) dropped about 3% on Thursday's close after it signed a memorandum of understanding with Nippon Steel Trading and NST Trading Malaysia, to establish a long-term collaboration framework.
Teck Resources (TECK-B.TO) was at last look down 1.2% in US premarket trade after it earlier Thursday reported a jump in first-quarter adjusted earnings, supported by record quarterly copper sales.Adjusted profit attributable to shareholders was C$858 million, or $1.75 per share, a surge from $303 million, or $0.60 per share. The result beat the first-quarter non-GAAP consensus earnings per share estimate of $1.12 compiled by FactSet.Revenue came in at $3.94 billion, up from $2.29 billion. The result beat the first-quarter sales consensus sales estimate of $3.23 billion compiled by FactSet.Adjusted EBITDA was $2.09 billion, up from $927 million. The increase was driven by record quarterly copper sales volumes, higher commodity prices and increased revenue from by-products.Quebrada Blanca copper sales volumes of 70,300 tonnes in the first quarter was a quarterly record. Production volumes for the quarter were 55,500 tonnes.Teck maintained its 2026 copper production guidance of 455,000 to 530,000 tonnes.