North American Morning Briefing: Traders Await -3-

Provided by Dow Jones

Mar 31, 2023 10:19am

U.S.-Russia Rift Complicates Case of Arrested Journal Reporter

WASHINGTON-Moscow's arrest of a Wall Street Journal reporter on espionage charges this week broadens a rift between the U.S. and Russia that is already so wide, the two nuclear powers barely maintain diplomatic communications.

That will make any agreement on the release of the reporter, 31-year-old Evan Gershkovich, difficult to secure as he heads toward a trial in a court under the control of Russia's security service, the FSB, U.S. officials say.

Taiwan Leader's U.S. Visit Is Purposely Low-Key

NEW YORK-It is the highest-profile U.S. visit by a Taiwan leader in years. Nonetheless, President Tsai Ing-wen is keeping largely out of the public eye.

A U.S. stopover that began Wednesday in New York marks Ms. Tsai's first foreign travel since mid-2019 and comes at a time of heightened tensions with China that many fear could veer into future armed conflict.

Write to paul.larkins@dowjones.com TODAY IN CANADA

Earnings:

East Side Games 4Q

LifeSpeak 4Q

MediPharm Labs 4Q

Economic Calendar (ET):

0830 Jan GDP

Stocks to Watch:

Barrick Gold: Porgera Gold Mine Operations to Resume; Papua New Guinea, Govt, Barrick Niugini and New Porgera Ltd. Signed Agreement to Progress With Resumption of Mine Ops, Which Have Been Suspended Since 2020;

Porgera Has Measured & Indicated Resources of 10M Oz, Inferred Resources of 3.4M Oz; Mine Forecast to Produce Average of 700,000 Oz/Year; All Parties in Agreement Committed to Reopening Mine at Earliest Opportunity; New Porgera Project Team to Move Ahead With Filing for Special Mining Lease, Meeting Other Conditions for Reopening;

51% of Equity in New Porgera Shared by PNG Stakeholders, Including Landowners and Enga Provincial Govt; Economic Benefits Will Be Split 53% for PNG Stakeholders, 47% for Mine Operator Barrick Niugini; Goods & Services to Be Sourced Locally in Porgera Where Possible, Hiring Preference Given to Locals; Reopening Would Futher Validate 'Host-Country Partnership Model' Co Also Has in Tanzania, Pakistan

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Cathedral Announces Delay in Filing 2022 Annual Financial Statements; Delay Due to Volume of Auditing Work Related to Significant Acquisition Activity, Related Financing, Company Transformation; Audit Remains in Process; Expects to File Annual Statements by April 14;

Anticipates Record 4Q, FY Results After Record-Settting 3Q; Sees Consolidated 4Q Rev Up More Than 18% Vs 3Q on Higher Pricing, Among Other Factors; 4Q Rev Should Boost Overall Results, Including Net Income, Adj EBITDA

Other News

Rio Tinto said it will form a joint venture with First Quantum Minerals to develop the La Granja copper project in Peru.

The miner said that First Quantum will acquire a 55% stake in the project for $105 million, and commit to further invest up to $546 million into the joint venture to take the project through a feasibility study and the development works.

North American Morning Briefing: Traders Await -3-

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