Welcome to our dedicated page for BASE CARBON news (Ticker: BCBNF), a resource for investors and traders seeking the latest updates and insights on BASE CARBON stock.
Base Carbon Inc (BCBNF) delivers industrial technology solutions and household device innovations through strategic global operations. This news hub provides investors with direct access to official corporate updates, including detailed progress reports on initiatives like the Vietnam Household Devices Project.
Our curated collection features press releases covering operational milestones, manufacturing advancements, and technology integrations. Users will find updates on production capacity improvements, partnership announcements, and market expansion strategies directly from company sources.
The resource serves both casual observers and professional analysts with unfiltered access to BCBNF's financial disclosures, project timelines, and executive commentary. Content spans earnings reports, sustainability initiatives, and operational efficiency achievements without editorial interpretation.
Bookmark this page for continuous access to Base Carbon's evolving story in industrial technology. Check regularly for new developments in manufacturing processes, product innovations, and international project updates that shape the company's market position.
Base Carbon Inc. (BCBNF) reported its Q2 2024 financial results, highlighting significant progress in its carbon credit projects. The company received $12.5 million from carbon credit sales in Vietnam during the quarter, with an additional $11.2 million post-quarter from Vietnam and Rwanda projects. The Rwanda cookstoves project achieved its first issuance of 717,558 Article 6 Authorized carbon credits, valued at $9.3 million. The India ARR project has planted over 82% of its planned 6.5 million trees.
As of June 30, 2024, Base Carbon had total assets of $127.2 million, including $7.5 million in cash and $108.8 million in carbon credit project investments. The company reported a net income of $7.47 million for the quarter, with gains on carbon credit project investments of $10.67 million.
Base Carbon Inc. (Cboe CA: BCBN) (OTCQX: BCBNF) has announced receipt of $11.2 million from carbon credit sales from its Vietnam and Rwanda projects. Key highlights include:
1. Total payments of $30 million from the Vietnam project, achieving full payback within 2 years.
2. Inventory of 700,000 Article 6 labeled carbon credits from the Rwanda project, potentially eligible for CORSIA.
3. Expected additional proceeds of $6.3 million from the Vietnam project off-take arrangement.
4. Rights to purchase approximately 25 million carbon credits in 'phase 2' of the Vietnam project.
5. Completed a 'test-trade' of 20,000 carbon credits from the Rwanda project.
Base Carbon has announced the results of its Annual General and Special Meeting held on June 25, 2024. The meeting saw representation of 67,395,288 common shares, or 56.234% of the company's outstanding shares. Five directors were elected: Catherine Flax, Margot Naudie, Bruce Tozer, Michael Costa, and Andrew Fedak, with high approval ratings ranging from 95.992% to 99.869%.
Additionally, shareholders reappointed KPMG LLP as auditors with a 99.225% approval rate, and approved the company's amended equity incentive plan with a 98.212% majority. For more details, the management information circular dated May 10, 2024, is available on the company's profile at sedarplus.ca.
Base Carbon announced the renewal of its normal course issuer bid (NCIB) approved by Cboe Canada. From June 21, 2024, to June 20, 2025, Base Carbon may repurchase up to 7,571,314 common shares, equivalent to approximately 6.5% of its outstanding shares and 10% of its public float. This renewal follows the completion of the current NCIB on June 20, 2024, during which 4,702,702 shares were repurchased. The daily maximum purchase is set at 49,709 shares, 25% of the average daily trading volume over the last six months. Block trades are permitted once per week. All repurchased shares will be canceled. The company also entered an automatic share purchase plan (ASPP) to ensure repurchases during blackout periods. The Board believes these actions align with shareholder interests and reflect the company's value and growth potential.
Base Carbon (BCBNF) announced its Q1 2024 financial results and key operational highlights.
Notable achievements include a $12.5 million payment from the Vietnam project and the first issuance of 717,558 carbon credits from the Rwanda cookstoves project. The company reported total assets of $121.1 million, with $118.3 million invested in carbon credit projects and $0.7 million in cash and cash equivalents.
However, they faced significant losses, including an unrealized accounting loss of $38.6 million from the Vietnam project and an overall net loss of $19.8 million. Operating expenses increased to $1.8 million, leading to an operating loss of $20.6 million. The company continues to invest in carbon credit projects, including a new $13.6 million reforestation initiative in India.
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