MIDEAST STOCKS - Factors to watch - May 24
DUBAI, May 24 Here are some factors that may affect Middle East stock markets on Wednesday. Reuters has not verified the press reports and does not vouch for their accuracy.
TORONTO Shares of Primero Mining Corp (P.TO) rose more than 41 percent shortly after the market open on Friday after the junior gold miner said it had received a positive ruling from Mexican tax authorities on how it reports silver revenues.
The ruling confirms that Primero can record silver revenue and taxes from its San Dimas gold mine in Durango state at the realized silver price rather than the spot price.
It is an important distinction, as Primero has a stream deal whereby it sells silver by-product produced at the mine to Silver Wheaton Corp SLW.TO for just over $4 per ounce. That is well below the current spot price of $34.89 per ounce.
Shares of the Toronto-based miner rose 41.7 percent $7.51 on Friday morning on the Toronto Stock Exchange.
(Reporting by Julie Gordon; Editing by Peter Galloway)
* Trade Desk announced pricing of follow-on offering of 4.32 million shares of class a common stock by certain selling stockholders at price to public of $52/share Source text for Eikon: Further company coverage:
May 23 Newark Liberty International Airport in New Jersey was reopened late on Tuesday night after it was shut down when 131 people were evacuated from a United Airlines flight after flames were spotted coming from one of the jet's engines.