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Algoma Steel Group Inc. Warrant - ASTLW STOCK NEWS

Welcome to our dedicated page for Algoma Steel Group Warrant news (Ticker: astlw), a resource for investors and traders seeking the latest updates and insights on Algoma Steel Group Warrant stock.

Algoma Steel Group Inc. is a Canadian company headquartered in Sault Ste. Marie, Ontario, specializing in the production of clean and consistent light gauge steel. They offer a diverse range of hot and cold rolled steel sheet and plate products. Algoma operates in the basic steel production segment, including sheets, plates, slabs, and freights. The company's revenue is primarily derived from contracts for producing, shipping, and delivering steel products. Geographically, they serve Canada, the United States, and global markets, with a focus on domestic sales. Algoma generates the majority of its revenue from the sale of steel sheets and strips. Committed to environmental stewardship, Algoma is investing in modernization and adopting electric arc technology to reduce carbon emissions. They aim to become one of North America's leading producers of green steel, ensuring a secure steel supply and a sustainable future.
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Algoma Steel Group Inc. reports a fatal incident involving an employee of a contractor who was performing maintenance work. The worker lost consciousness while cleaning an out-of-service gas line and later succumbed to their injuries. An investigation is underway.
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Algoma Steel Group Inc. will release its fiscal 2023 Q4 and full year financial results on June 21, 2023. A webcast and conference call will be held on June 22, 2023, to review the results and discuss recent events.
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Algoma Steel Group Inc. has increased its senior secured asset-based revolving credit facility from US$250 million to US$300 million and extended the term to May 2028. The interest rate will be based on the Secured Overnight Financing Rate (SOFR) plus a credit spread adjustment of 10 basis points plus an applicable margin. This move strengthens Algoma's liquidity, extends maturity, and increases financial flexibility.
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Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) has provided its fiscal 2023 fourth quarter guidance, projecting total steel shipments between 555,000 and 565,000 tons and Adjusted EBITDA of CDN $25 million to $30 million. CEO Michael Garcia noted the company's operations have stabilized, contributing to improved EBITDA compared to the previous quarter. Current steel prices are at a nine-month high, suggesting a positive market environment. Algoma is also advancing its strategic electric arc furnace project, aiming for startup by mid-2024. The company emphasizes its commitment to producing green steel and enhancing operational efficiency.

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Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) announced the immediate resignation of Brian Pratt from its Board of Directors due to personal reasons. Pratt, who joined the board in 2021, contributed significantly to the Operations and Capital Projects, as well as the Human Resources and Compensation Committees. Chairman Andy Harshaw expressed gratitude for Pratt's contributions and support for his decision. This change comes amid Algoma's ongoing transformation, as the company focuses on modernizing its operations and sustainability efforts, including investments in electric arc technology to reduce carbon emissions and enhance its steel production capabilities.

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Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) has appointed EllisDon as the Construction Manager for its Electric Arc Furnace (EAF) project, a significant step in Canada's effort to reduce carbon emissions. The project, on track for mid-2024 completion, aims to increase Algoma's steelmaking capacity from 2.8 million tons to 3.7 million tons while cutting carbon emissions by approximately 70%. CEO Michael Garcia emphasized the project's timely progress and EllisDon's role in enhancing operational efficiency. This partnership highlights Algoma's commitment to modernizing its production facilities and leading the green steel initiative in North America.

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Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) announced the renewal of its normal course issuer bid (NCIB), approved by the Toronto Stock Exchange. Starting from March 6, 2023, the Company plans to acquire up to 5,178,394 common shares, approximately 5% of the outstanding shares, over 12 months. The aim is to leverage market opportunities and enhance shareholder value as the shares may not reflect their true worth. Additionally, an automatic repurchase plan has been established to facilitate purchases during regulatory restrictions. As of the previous NCIB, Algoma repurchased 3,364,262 shares at an average price of US$8.5146.

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Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) will participate in the BMO 32nd Global Metals, Mining & Critical Minerals Conference from February 27-28, 2023. They will share a presentation in the Investors section of their website prior to the event. This announcement emphasizes Algoma's commitment to its modernized operations, focusing on sustainability through electric arc technology and reducing carbon emissions. As a key North American steel producer, Algoma aims to provide a secure steel supply while committing to ecological stewardship and community values.

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FAQ

What is the current stock price of Algoma Steel Group Warrant (astlw)?

The current stock price of Algoma Steel Group Warrant (astlw) is $1.3999 as of December 23, 2024.

Where is Algoma Steel Group Inc. headquartered?

Algoma Steel Group Inc. is headquartered in Sault Ste. Marie, Ontario, Canada.

What products does Algoma Steel Group Inc. offer?

Algoma Steel Group Inc. offers a range of hot and cold rolled steel sheet and plate products.

What segment does Algoma Steel Group Inc. operate in?

Algoma Steel Group Inc. operates in the basic steel production segment, including sheets, plates, slabs, and freights.

Where does Algoma Steel Group Inc. generate its revenue from?

The company generates its revenue primarily from contracts to produce, ship, and deliver steel products.

What is Algoma Steel Group Inc.'s focus geographically?

Algoma Steel Group Inc. serves Canada, the United States, and global markets, with a strong emphasis on domestic sales.

What is Algoma Steel Group Inc.'s commitment to the environment?

Algoma Steel Group Inc. is investing in modernization and adopting electric arc technology to significantly lower carbon emissions and become a leading producer of green steel.

What is Algoma Steel Group Inc.'s vision for the future?

Algoma Steel Group Inc. aims to deliver secure steel supply and a sustainable future as a partner in steel, drawing on its rich steelmaking tradition.

What sets Algoma Steel Group Inc. apart as a steel producer?

Algoma Steel Group Inc. stands out as a key supplier of steel products in North America and the only producer of discrete plate products in Canada.

How is Algoma Steel Group Inc. contributing to a greener future?

Algoma Steel Group Inc. is focusing on modernization and adopting environmentally friendly technologies to reduce carbon emissions and enhance sustainability.

What industries does Algoma Steel Group Inc. cater to?

Algoma Steel Group Inc. delivers responsive, customer-driven product solutions to industries such as automotive, construction, energy, defense, and manufacturing.

Algoma Steel Group Inc. Warrant

Nasdaq:ASTLW

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104.42M
Steel
Basic Materials
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United States of America
Sault Ste. Marie