VANCOUVER, British Columbia, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Asante Gold Corporation (CSE:ASE | GSE:ASG | FRANKFURT:1A9 | U.S.OTC:ASGOF) (“Asante” or the “Company”) announces the filing of its financial statements and management’s discussion and analysis (“MD&A”) for the three month and nine months ended October 31, 2024 (“Q3 2025”). Dave Anthony, President and CEO stated, “We are pleased to report another solid quarter with significant growth in adjusted EBITDA, reflecting the positive impact of ongoing business improvement initiatives at Bibiani and Chirano, combined with the substitutional leverage our operations have to higher gold prices. The relocation of the Bibiani-Goaso highway was a critical milestone for unlocking further growth at Bibiani, and development of the Russel Starter Pit underlines the district-scale opportunities we have in front of us. Both of these developments justify accelerated stripping in the near term, with a corresponding increase in all-in-sustaining costs to unlock their potential. Execution of the sulphide treatment plant project at Bibiani, which is expected to increase gold recovery to 92%, remains on track with commissioning planned for March 2025. And at Chirano, metallurgical and throughput projects are starting to pay off. We were also pleased to update the market on a comprehensive package of non-dilutive finance initiatives to fund the organic growth embedded in our operations, and we look forward to providing further updates on our progress in the near term.” All dollar figures are in United States dollars unless otherwise indicated. A summary of the financial and operating results for fiscal Q3 2025 are presented in this news release. For a detailed discussion of results for the third quarter please refer to the MD&A filed on SEDAR+ at www.sedarplus.ca and Asante’s website at www.asantegold.com . Quarter ended October 31, 2024 Summary Financial Results Asante’s revenue for the three months ended October 31, 2024 was $111 million, a 15% increase from $96 million in the same period in 2023. The increase in revenue is attributable to an increase in average gold price realized per ounce of $2,347 for the three months ended October 31, 2024, compared to $1,859 in the same period in 2023. This was partially offset by a decrease in ounces sold of 43,273 for the three months ended October 31, 2024 compared to 50,573 ounces sold in the same period in 2023. Asante’s revenue for the nine months ended October 31, 2024, was $339 million, a 15% increase from $295 million for the same period in 2023. Adjusted EBITDA for the three and nine months ended October 31, 2024 was $17,552 and $50,423, respectively, compared to $1,968 and negative $19,457 in the same periods of the prior year. The positive adjusted EBITDA and increase in revenue reflect the rise in gold prices to near all-time highs. The Company produced 45,273 gold equivalent ounces for the three months ended October 31, 2024, compared to 46,525 gold equivalent ounces in the same period in 2023. The decrease in gold production was primarily the result of lower feed grades, and lower recovery at Bibiani. Asante produced 145,632 gold equivalent ounces for the nine months ended October 31, 2024 compared to 155,532 in the same period in 2023. Consolidated AISC increased by 26% for the three months ended October 31, 2024 compared to the same period in 2023 primarily due to additional costs at Bibiani resulting from the start of mining at the new Russell satellite pit, plus increased stripping in the Main Pit, lower grade ore and reduced recovery. Consolidated AISC decreased by 5% for the nine months ended October 31, 2024 compared to the same period in 2023. This decrease was mainly attributed to lower sustaining capital and reduced mining costs per ounce sold at Bibiani, as a result of decreased waste mining earlier in the year. Bibiani Mine – Summary of the quarter ended October 31, 2024 Results In the three and nine months ended October 31, 2024, ore mined decreased 57% and 27% compared to the same periods in 2023 primarily due to fleet availability issues caused by funding constraints. Gold equivalent ounces produced was 12,309 in the three months ended October 31, 2024, compared to 16,459 in the same period of 2023, and decreased to 47,945 in the nine months ended October 31, 2024, from 53,811 in the same period of 2023. This decrease was mainly due to the lower feed grade of plant feed, including the low-grade stockpile draw, and a higher proportion of sulphide ore processed without the benefit of a sulphide treatment plant, which continues to limit gold recovery. Construction of the Company’s sulphide treatment plant is underway, and is scheduled for completion in the first half of 2025, contingent on the availability of sufficient funding. AISC increased to $3,115 per ounce in the three months ended October 31, 2024, compared to $1,884 per ounce in the same period of 2023, primarily due to elevated stripping requirements and lower grade ore processed. AISC decreased to $2,286 per ounce in the nine months ended October 31, 2024, compared to $2,588 per ounce in the same period of 2023, driven by lower sustaining capital resulting from decreased waste mining requirements earlier in the year. Bibiani Outlook For the fiscal year ending January 31, 2025, the Company expects production of 52,500 to 57,500 gold equivalent ounces. For fiscal year ending January 31, 2026, the Company plans to execute on its growth strategy which includes: Expansion of the Bibiani main pit through acceleration of its waste stripping program, which is expected to significantly increase production through access to higher grade ore Construction and commissioning of the sulphide treatment plant which is planned to significantly increase gold recovery Plant throughput expansions including installation of a pebble crusher and secondary crusher during 2025 to achieve throughput increase from 3.0 Mt/y to 4.0 Mt/y Plant upgrades to the carbon-in-leach circuit Community relocation, to support main pit expansion through 2030 Road construction connecting Bibiani to Chirano Emergency generator installation during 2025 to function as a secondary power source, ensuring uninterrupted operation and reduced plant downtime Commencement of underground mining. The Underground Mining Feasibility Study was completed in September 2024 and this development program is planned to start for the quarter ended January 31, 2026. Full production from the underground mine is planned for 2028, with delivery of up to 2.6Mt/y at 3.0 g/t Au, through 2038. External financing will be required in order to execute this growth strategy. Subject to the availability of sufficient financing in early calendar 2025, the Company expects to successfully complete the above initiatives and produce between 175,000 and 205,000 gold ounces at Bibiani in the fiscal year ending January 31, 2026, including a significant increase in monthly production in the second half of the fiscal year post advancement of the planned stripping program and completion of the sulphide treatment plant. There can be no certainty that the Company will be successful in securing sufficient financing on a timely basis. Chirano Mine – Summary of the quarter ended October 31, 2024 Results Ore mined increased by 51% in the three months ended October 31, 2024, compared to the same period in 2023, and by 16% in the nine months ended October 31, 2024, compared to the corresponding period in 2023. Ore mined increased due to increased mining activity at the Obra, Mamnao North, Mamnao Central, Sariehu and Sariehu/Mamnao gap open pits, which were in the stripping stage during the three months ended October 31, 2023, as well as increased operations at the Suraw and Obra underground mines. Higher ore grades and increased ore processed contributed to increased gold equivalent ounces produced to 32,964 ounces in the three months ended October 31, 2024 from 30,076 ounces in the same period of 2023. Reduced grade during the nine months ended October 31, 2024 resulted in a decline in gold equivalent ounces produced to 97,687 ounces in the nine months ended October 31, 2024 from 101,721 ounces in the same period of 2023. AISC increased to $2,031 per ounce in the three months ended October 31, 2024, compared to $1,846 per ounce in the same period of 2023, and to $1,905 per ounce in the nine months ended October 31, 2024, compared to $1,892 per ounce in the same period of 2023. This increase was primarily driven by lower gold equivalent ounces sold, higher maintenance costs and higher sustaining capital expenditures in the current reporting period. Chirano Outlook For the fiscal year ending January 31, 2025, the Company expects production of 130,000 to 140,000 gold equivalent ounces. The Company plans to undertake the following initiatives beyond January 31, 2025, which are expected to enhance production and reduce costs in future years: Execution of process plant projects to improve performance and increase the annual mine production rate to 4Mt/annum. This includes CIL agitators and intertank screens upgrade, cyclone system upgrade to improve grinding size control, carbon regeneration system upgrade to improve carbon activity, mill discharge pumps upgrade, gold room electrowinning cells and rectifiers upgrade. Underground development of Obra to the north and at depth (wide orebody) and Suraw underground mines to ensure consistent ore delivery. Underground development of the Akwaaba, Tano and Akoti far south mines to supplement flexibility to ensure robust underground ore delivery. Development of the exploration drifts towards the north to explore and reclassify the resource at Sariehu and Mamnao underground mines as the future underground mines at Chirano. Finalization of the feasibility and bankable studies of the North mine with a conveyor system feeding directly to the process plant Run-of-Mine (“ROM”) pad. Start of Aboduabo open pit oxide mining. Ongoing underground exploration projects at the Suraw, Obra and open pit mine life extension projects at the Sariehu/Mamnao area are progressing as planned. 3D litho-structural modelling at the Obra mine is ongoing to support mine life extension. Based on preliminary budgetary estimates, the Company expects to produce between 155,000 and 175,000 gold ounces at Chirano for the fiscal year ended January 31, 2026. The Company requires external financing to execute planned capital projects and production targets for fiscal 2026, and meet other short-term obligations. The Company continues to pursue a number of financing initiatives, including those outlined in the Company’s news release of October 30, 2024, which it is seeking to conclude by early calendar 2025. There is no assurance that the Company will be able to obtain adequate financing in the future or that such financing will be on terms acceptable to the Company. Qualified Person Statement The scientific and technical information contained in this news release has been reviewed and approved by David Anthony, P.Eng., Mining and Mineral Processing, President and CEO of Asante, who is a "qualified person" under NI 43-101. Non-IFRS Measures This news release includes certain terms or performance measures commonly used in the mining industry that are not defined under International Financial Reporting Standards (“IFRS”), including “all-in sustaining costs” (or “AISC”), average gold price realized, adjusted EBITDA and working capital. Non-IFRS measures do not have any standardized meaning prescribed under IFRS, and therefore they may not be comparable to similar measures employed by other companies. The data presented is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS and should be read in conjunction with Asante’s consolidated financial statements. Readers should refer to Asante's Management Discussion and Analysis under the heading "Non-IFRS Measures" for a more detailed discussion of how Asante calculates certain of such measures and a reconciliation of certain measures to IFRS terms. About Asante Gold Corporation Asante is a gold exploration, development and operating company with a high-quality portfolio of projects and mines in Ghana. Asante is currently operating the Bibiani and Chirano Gold Mines and continues with detailed technical studies at its Kubi Gold Project. All mines and exploration projects are located on the prolific Bibiani and Ashanti Gold Belts. Asante has an experienced and skilled team of mine finders, builders and operators, with extensive experience in Ghana. The Company is listed on the Canadian Securities Exchange, the Ghana Stock Exchange and the Frankfurt Stock Exchange. Asante is also exploring its Keyhole, Fahiakoba and Betenase projects for new discoveries, all adjoining or along strike of major gold mines near the centre of Ghana’s Golden Triangle. Additional information is available on the Company’s website at www.asantegold.com . About the Bibiani Gold Mine Bibiani is an operating open pit gold mine situated in the Western North Region of Ghana, with previous gold production of more than 4.5 million ounces. It is fully permitted with available mining and processing infrastructure on-site consisting of a refurbished 3 million tonne per annum process plant and existing mining infrastructure. Asante commenced mining at Bibiani in late February 2022 with the first gold pour announced on July 7, 2022. Commercial production was announced November 10, 2022. For additional information relating to the mineral resource and mineral reserve estimates for the Bibiani Gold Mine, please refer to the 2024 Bibiani Technical Report filed on the Company’s SEDAR+ profile ( www.sedarplus.ca ). About the Chirano Gold Mine Chirano is an operating open pit and underground mine located in the Western Region of Ghana, immediately south of the Company’s Bibiani Gold Mine. Chirano was first explored and developed in 1996 and began production in October 2005. The mine comprises the Akwaaba, Suraw, Akoti South, Akoti North, Akoti Extended, Paboase, Tano, Obra South, Obra, Sariehu and Mamnao open pits and the Akwaaba and Paboase underground mines. For additional information relating to the mineral resource and mineral reserve estimates for the Chirano Gold Mine, please refer to the 2024 Chirano Technical Report filed on the Company’s SEDAR+ profile ( www.sedarplus.ca ). For further information please contact: Dave Anthony, President & CEO Frederick Attakumah, Executive Vice President and Country Director info@asantegold.com +1 604 661 9400 or +233 303 972 147 Cautionary Statement on Forward-Looking Statements Certain statements in this news release constitute forward-looking statements, including but not limited to, gold production and AISC forecasts for the Bibiani and Chirano Gold Mines, financing initiatives, estimated mineral resources, reserves, exploration results and potential, development programs, including construction of the Company's sulphide treatment plant, and the timing thereof, and increases in mine-life and gold recoveries, starter pit development and potential synergies between Chirano and Bibiani. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, the Company’s inability to obtain any necessary permits, consents or authorizations required for its planned activities, the Company’s inability to raise the necessary capital or to be fully able to implement its business strategies, and the price of gold. The reader is referred to the Company’s public disclosure record which is available on SEDAR+ ( www.sedarplus.ca ). Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except as required by securities laws and the policies of the securities exchanges on which the Company is listed, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. LEI Number: 529900F9PV1G9S5YD446. Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.LAHAINA, Hawaii (AP) — Tyrese Hunter scored 17 of his 26 points after halftime to lead Memphis to a 99-97 overtime win against two-time defending national champion and second-ranked UConn on Monday in the first round of the Maui Invitational . Hunter shot 7 of 10 from 3-point range for the Tigers (5-0), who were 12 of 22 from beyond at the arc as a team. PJ Haggerty had 22 points and five assists, Colby Rogers had 19 points and Dain Dainja scored 14. Tarris Reed Jr. had 22 points and 11 rebounds off the bench for the Huskies (4-1). Alex Karaban had 19 points and six assists, and Jaylin Stewart scored 16. Memphis led by as many as 13 with about four minutes left in regulation, but UConn chipped away and eventually tied it on Solo Ball’s 3-pointer with 1.2 seconds remaining. Memphis: The Tigers ranked second nationally in field goal percentage going into the game and shot it at a 54.7% clip. UConn: The Huskies saw their string of 17 consecutive wins dating back to February come to an end. The teams were tied at 92 with less than a minute remaining in overtime when UConn coach Dan Hurley was assessed a technical foul for his displeasure with an over-the-back call against Liam McNeeley. PJ Carter hit four straight free throws — two for the tech and the other pair for the personal foul — to give Memphis a 96-92 lead with 40.3 seconds to play. UConn had three players foul out. Memphis attempted 40 free throws and made 29 of them. Memphis will play the winner of Colorado-Michigan State on Tuesday in the second round of the invitational. UConn will play the loser of that game in the consolation bracket. Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here . AP college basketball: https://apnews.com/hub/ap-top-25-college-basketball-poll and https://apnews.com/hub/college-basketball .
Cartoon: A Good Laugh
When Inter Miami were dumped out of Major League Soccer's playoffs in the first round, their former Spain international full-back Jordi Alba questioned the fairness of the post-season format. Miami had topped the Eastern Conference and the overall regular season standings with a record points tally a performance which earned them the 'Supporters' Shield'. But there would be no title battle against the best in the West for Lionel Messi and Company after they contrived to lose two matches in their best-of-three series against an Atlanta United team which finished ninth in the East and 20th in the overall standings. "I think this format is a bit unfair. It has been done for many years but I think it should be the champion of one conference against the champion of the other, to make it as fair as possible," Alba said. Alba's comments prompted much debate among MLS fans and plenty of accusations of sour grapes but they did serve to highlight that this year's playoffs, if not MLS's playoffs in general, would certainly not be a battle of the best versus best. Defending champions Columbus Crew, who finished second in the Supporters' Shield race, were also eliminated in the first round, adding to the sense that the knockout phase of the season is very much a competition of its own. So on Saturday, after the international break disrupted the flow of the post-season, the Conference semi-finals, will see a "Hudson River Derby" between two New York teams who couldn't finish in the top 10 in the regular season. New York City, Manchester City's sister club, have home-field advantage after finishing in 13th spot while the New York Red Bulls travel from New Jersey, having ended up in 16th place. The 'home field' isn't actually NYCFC's usual home of Yankee Stadium, which is being used for a college football game, but Citi Field, home of New York's other baseball club, the Mets. Later on Saturday, in the Western Conference, 2022 MLS Cup winners and last year's beaten finalists, Los Angeles FC, are at home to the Seattle Sounders. That fixture feels much more like the kind of playoff game that was expected -- LAFC finished top of the West while Seattle were fourth. LAFC faces the Sounders for the fourth time in an elimination match over the last 13 months, having defeated Seattle in the 2023 Western Conference semifinals, the 2024 Leagues Cup quarterfinal and the 2024 US Open Cup semifinal. Each of those matches was hosted by Seattle. LAFC, with former France stars in goalkeeper Hugo Lloris and striker Olivier Giroud, enter the encounter unbeaten in their last 10 meetings with the Sounders, with their last loss to Seattle coming in a 2-0 defeat in 2021. On Sunday, surprise package Atlanta, with their 40-year-old goalkeeper Brad Guzan having impressed so many with his heroics against Miami, will return to Florida to take on Orlando City, who finished fourth in the East. Atlanta won at Orlando on the last day of the regular campaign, a victory that allowed them to sneak into the wildcard round but which also completed a home and away double for the Georgia side. "Obviously, in Major League Soccer, anything can happen," said Orlando coach Oscar Pareja. "Our responsibility is to play one game at a time. This one, we're going to be ready for sure," he added. The weekend rounds off with Los Angeles Galaxy hosting Minnesota United who, under former Manchester United assistant coach Eric Ramsay, came through a best-of-three series against higher-ranked Real Salt Lake. The Galaxy start as favourites but, as this season has shown in abundance, that counts for little. "We know they are a top team at this level with top individual players who are very difficult to beat at home but...I feel that if we are a good version of what we have been over the last 10-12 games... I certainly won't be painting it as a one sided game," said Ramsay. sev/jsHOUSEHOLDS face paying higher energy bills before they drop in price in the drive for clean energy, Ed Miliband has hinted. The Energy Secretary says consumers will see costs eventually fall but didn’t rule out costs rising in the short-term in the push to decarbonise the grid by 2030. But the Tories say the “rush” to wean the electricity system off fossil fuels by the end of the decade will cause more hardship for Brits. Proposals show the government and private firms will spend £40 billion each year as part of the eco move with a pledge to bring down bills by up to £300 in five years. He said: “I can’t guarantee what’s going to happen to bills next month, because we’re in the grip of the international fossil fuel markets .” The Cabinet Minister also said he will be able to bypass any local opposition to build onshore wind farms - with decisions previously left to councils . READ MORE ON POLITICS A predicted rise in 2025 is set to mark the third consecutive hike for energy costs after Ofgem raised its price cap in October. The energy regulator also confirmed last month the cost of yearly energy bills will rise by around £21 to £1,738 come January. And now experts at Cornwall Insights forecast the average dual fuel bill for those not on a fixed deal will rise from £1,738 to £1,762 in April. Analysts at the firm said "continued uncertainty" regarding the future of the Russia-Ukraine conflict could impact wholesale prices. Most read in Money
The PGA Tour announced its schedule of seven post-season tournaments for the fall of 2025 on Tuesday with no Las Vegas event on the calendar for the first time since 1983. The lineup is one fewer than this year and tees off with the Procore Championship in Napa, California, on September 11-14, two weeks after the 2025 Tour Championship. Absent from the schedule is the Shriners Children's Open in Las Vegas. After the Ryder Cup next September at Bethpage Black, the PGA Tour events resume with the Sanderson Farms Championship on October 2-5. The PGA Tour's Japan stop, the Baycurrent Classic, will be October 9-12 at Yokohama Country Club followed by the Black Desert Championship on October 23-26 in Utah. The World Wide Technology Championship at Los Cabos, Mexico, will be November 6-9 followed the next week by the Bermuda Championship and the RSM Classic on November 20-23 at Sea Island, Georgia. "With events in four US states, Japan, Mexico and Bermuda, the conclusion to the 2025 golf calendar promises to be exciting for our fans worldwide," said Tyler Dennis, PGA Tour chief competitions officer. Under tighter qualifying rules for the 2026 PGA Tour approved by the Player Advisory Council last month, only the top 70 players in the FedEx Cup standings will secure exempt status with the 50 who reach next year's BMW Championship being exempt into signature events for 2026. Those ranked 51st and beyond will take FedEx Cup points into the fall to try and accumulate eligibility points for the 2026 campaign. Three PGA Tour Challenge season events will be played next December -- the Hero World Challenge in the Bahamas hosted by Tiger Woods, the LPGA-PGA mixed-team Grant Thornton Invitational and the PNC Championship parent-child event. Tour commissioner Jay Monahan also announced Tuesday that the PGA is searching for a new chief executive officer whose job would be to grow the business side of the operation in light of the $1.5 billion investment in PGA Tour Enterprises by Strategic Sports Group, a set of team sports owners. js/bbBlue Origin and Estes Rockets Join ForcesBillionaire Ray Dalio sold Nvidia stock. Should you follow?
New York Rangers goaltender Igor Shesterkin agreed to a record-setting eight-year, $92 million contract on Friday, according to multiple reports. Shesterkin's deal, which averages $11.5 million annually and runs through the 2032-33 season, is the largest ever for a goaltender. The previous high was an eight-year, $84 million deal ($10.5 million average) that Carey Price signed with the Montreal Canadiens in 2017. Shesterkin, who won the Vezina Trophy as the top netminder for the 2021-22 season, turned down an eight-year, $88 million offer just prior to the start of this season. He is making $5.66 million in 2023-24 in the final season of a four-year, $22.67 million contract. The Moscow native finished third in Hart Trophy (MVP) balloting during his stellar 2021-22 season in when he went 36-13-4 and led the NHL with both a 2.07 goals-against average and .935 save percentage. Shesterkin, who turns 29 on Dec. 30, has won 36 or more games in each of the past three regular seasons. But this season, he is just 8-9-1 with a personal-worst 3.05 GAA in 18 games this season. His .908 save percentage is also his worst. Overall, Shesterkin is 143-68-18 with a 2.48 GAA and .920 save percentage in 231 appearances (226 starts) over six seasons. In the postseason, he is 23-20-0 with a 2.41 GAA and .928 save percentage. Reports of the deal began circulating shortly after the Rangers traded captain Jacob Trouba to the Anaheim Ducks. That freed up money for next season as Trouba was in the sixth season of a seven-year, $56 million deal. This article first appeared on Field Level Media and was syndicated with permission.
NASA's 2 stuck astronauts face more time in space with return delayed until at least late March
Direct Line has rejected a £3.3bn takeover offer from its bigger UK rival Aviva , the second time it has rebuffed a suitor this year. Aviva, the UK’s largest insurer, said it offered 250p a share, made up of cash and Aviva shares, in a non-binding proposal on 19 November. This was rejected by Direct Line on Wednesday, which has declined to engage further with Aviva, according to the statement. The announcement came after markets shut. Aviva’s share price closed 1.6% higher at 489.5p, while Direct Line shares slipped by 0.2% to 158.7p. Its share price has fallen by 14% this year, giving the company a market value of £2.1bn. By contrast, Aviva’s shares are nearly 13% higher, valuing it at £13.2bn. “Aviva believes that an acquisition of Direct Line would be consistent with its strategy to accelerate growth in its UK businesses and further pivot the group towards capital-light business lines,” the insurer said. It added that it would create a more efficient platform from which to serve existing and new customers, and would allow Direct Line customers to “benefit from Aviva’s breadth, scale and financial strength”. However, Direct Line, known for its motor insurance, said it had considered the proposal with its advisers and concluded that it was “highly opportunistic and substantially undervalued the company”. It added: “The board has considerable conviction in the capabilities of our newly established leadership team and stands firmly behind their delivery of our strategy. Under this strategy, the company continues to make early progress towards our financial targets, and expects to deliver attractive growth in profitability, capital generation and shareholder returns.” The Kent-based company said earlier this month that it plans to cut 550 jobs as part of a turnaround plan aimed at saving £50m next year. It lost nearly 400,000 car insurance customers in the past year. Adam Winslow joined as chief executive in March from Aviva, where he ran the general insurance business in the UK and Ireland. In February, Direct Line rejected a £3.1bn takeover approach from Belgian insurer Ageas , saying it was “uncertain and unattractive” for shareholders. The company was spun out of Royal Bank of Scotland in 2012 and listed on the London Stock Exchange two years later. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion Aviva has sold businesses in France, Italy, Asia and elsewhere to focus on the UK, Ireland and Canada under chief executive Amanda Blanc. In March, it announced it was returning to the Lloyd’s insurance market through the £242m purchase of Probitas and completed the deal in July. Under UK takeover rules, Aviva has until 5pm on 25 December to announce a firm intention to make an offer or walk away.With favourites out MLS playoffs promise more upsets