Company news

Mining Roundup

Karelian Diamond Resources (LON:KDR) made significant progress in the year and the acquisition of Lahtojoki may well deliver a mine faster than previously thought, shareholders at the annual general meeting were told. Chairman Professor Richard Conroy said: “The year has been an excellent one for your company. We have acquired the Lahtojoki diamond deposit together […]

FDA accepts AZ's durvalumab for BLA in bladder cancer

AstraZeneca and its global biologics research and development arm, MedImmune, says the US Food and Drug Administration has accepted the first biologics licence application (BLA) for durvalumab, a PD-L1 human monoclonal antibody (mAb), and granted priority review status with a Prescription Drug User Fee Act (PDUFA) set for the second quarter of 2017. The BLA […]

Weatherly reschedules repayment

Weatherly has formally concluded a further amendment and restatement agreement with Orion Mine Finance (Master) Fund I LP in relation to the facility agreement between Orion and the company’s subsidiary Ongopolo Mining Limited. Under the amended facility, the repayment of facility D has been deferred to 28 February and interest accruing on the loans made […]

IPF looks at Poland consumer credit plans

International Personal Finance is reviewing proposed changes to consumer credit legislation in Poland and the effect it would have on the profitability of its Polish business. IPF said the Polish Ministry of Justice published a draft Bill on its website aimed at strengthening anti-usury legislation in Poland. Among other things, it proposes further changes to […]

BlueRock agrees settlement with former director

BlueRock Diamonds has agreed an acquisition and settlement with former director John Kilham. BlueRock has agreed to acquire a crusher from Kgalagadi Geoservices (Pty) Limited, a company controlled by Kilham for ZAR630,000 payable in cash in three equal monthly instalments commencing on 1 February. The crusher was previously being rented by the company. BlueRock has […]

LGO drawdown under Lind funding

LGO has confirmed the refinancing, which was announced on 7 December, has now completed and first close on the transaction occurred today. LGO received the proceeds from the first drawdown of US$1.825 million on the Lind funding agreement and paid BNP Paribas the closing sum of US$1.75m in full settlement of all amounts due to […]

Andes Energia appoints joint broker

Andes Energia has appointed Panmure Gordon (UK) as joint broker and joint financial adviser alongside Stockdale Securities. The appointment is with immediate effect. Chairman Nicolas Mallo Huergo said “Panmure has a strong presence in the natural resources sector and complements Stockdale very well and we look forward to working with our advisers in pursuing the […]

L&G to change external auditor

Legal & General Group has announced its intention to propose the appointment of KPMG as its external auditor for the financial year ending 31 December 2018. The scheduled change follows a tender process carried out during 2016, as previously announced in the Group’s 2015 Annual Report & Accounts. L&G says this process has ensured that […]

Ancala notes opposition to Severn Trent's rival bid

Ancala Fornia has highlighted employee opposition to Severn Trent Water’s rival offer for Dee Valley. The group says the employee opinion contains the following summary: “In summary, we are against the offer made by Severn Trent Water, and are so concerned that we have raised our objections to the Competition and Markets Authority explicitly outlining […]

IG response over BaFin plans for CFDs

IG Group, a global leader in online trading, has noted an intended measure issued by BaFin, a supervisor of the company’s activities in Germany, regarding the marketing, distribution and sale of CFDs to retail clients. The BaFin announcement proposes that the marketing, distribution and sale of CFDs to retail clients in Germany can only be […]

Boussard & Gavaudan NAV update

Boussard & Gavaudan Holding says the estimated net asset value of its sterling shares was £19.1014 at the close of business on 8 December. The estimated NAV of its euro shares was €21.7821. At 8:46am: (LON:BGHS) Boussard Gavaudan Holding share price was 0p at 1582.5p Story provided by

X5 Retail opens 9,000th store

X5 Retail Group, a leading Russian food retailer, has opened its 9,000th store in Russia. The company opened nine new stores today, including eight Pyaterochkas in Sochi, St Petersburg, Samara, Chelyabinsk, Kemerovo, Cheboksary, Lipetsk and Reutov, and a Perekrestok in Pyatigorsk. The milestone store is a new Pyaterochka in Sochi at 53A Demokraticheskaya Street. The […]

Lucara's Karowe mine sales top $1bn

Accumulated sales from Lucara Diamond Corp’s Karowe mine have exceeded $1.0 billion in since the start of production in June 2012 following the close of the fourth regular tender of 2016. The Q4 2016 revenue, inclusive of the second exceptional stone tender held in November, is $66.1 million at an average of $743 per carat.4 […]

Berendsen confirms probe by CMA

Berendsen has confirmed that its UK Cleanroom business is under investigation by the Competition and Markets Authority. The investigation relates to a joint venture to which a Berendsen subsidiary was a party, including in relation to agreements entered into by the joint venture in May 2012. The subsidiary was acquired by Berendsen in September 2014. […]

Condor settles NSR dispute

Condor Gold has reached terms of a settlement with B2Gold Corporation and Royal Gold over a disputed net smelter return royalty over part of Condor’s flagship La India project in Nicaragua. Condor is also acquiring from B2Gold approximately 3,508 hectares of land surface rights which cover the area of the estimated mineral resource and reserves […]

Mining Roundup

Rio Tinto (LON:RIO) has appointed two executives to its management team to step up performance in its people and partnering capabilities, which are core enablers of the company’s strategy and long-term focus under CEO J-S Jacques. Vera Kirikova will assume the role of Human Resources Group executive and Simone Niven the role of Corporate Relations […]

Tarsus completes Connect acquisition

Tarsus, the international business-to-business media group, has completed the acquisition of 80.1% of Connect. At 3:41pm: (LON:TRS) Tarsus PLC share price was -2.62p at 256.38p Story provided by

Diageo board committee change

Diageo has announced the appointment of Alan Stewart as chairman of its audit committee, effective 1 January 2017. This appointment was approved at a meeting of the board on 6 December 2016. Stewart replaces Philip Scott, who is stepping down from the role but will remain on Diageo’s board of directors and as a member […]

INPP consortium to take 61% stake in GDN

International Public Partnerships is part of the Quad Gas Group consortium that has agreed to acquire a 61% interest in National Grid’s gas distribution network. INPP expects to invest up to £275 million, with the remaining risk capital funded by the other consortium partners who include other leading UK and international institutional investors, including: Allianz […]

Elektron to close Torquay site

Elektron Technology plans to close its Torquay site when the lease expires in August 2017. The group has prioritised five businesses for investment – Bulgin (connectors and switches), Checkit (internet of things), Elektron Eye Technology (eye testing instruments), Queensgate (nano-positioning) and Sheen (materials testing instruments). These businesses have all developed new product development roadmaps with […]

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