Company news

Mining Sector: Weatherly soars on progress at Tschudi copper mine

Weatherly International’s (LON:WTI) shares soared after it reported that the Tschudi copper mine is well ahead of its original schedule, with first copper expected next month. The crushing and processing plant is now in full operation and functioning effectively. “We are using a proven technology to extract high grade copper in a low cost operation,” […]

Shell corrects results after error in stock valuation

Royal Dutch Shell’s income attributable to shareholders has been reduced after the company corrected its fourth quarter and full-year results which were announced yesterday. The company says that after making its announcement, a stock valuation error in its downstream operations was discovered. The value of inventories in the condensed consolidated balance sheet, reported as $19,981m, […]

Investec completes Kensington Group sale

Investec has completed the sale of Kensington Group and related assets to Blackstone Tactical Opportunities Advisors LLC and TPG Special Situations Partners as announced on 19 December. At 2:41pm: (LON:INVP) Investec PLC share price was -1.75p at 566.25p Story provided by

BSD Crown update on claim against Apple

B.S.D Crown is considering an order by a US district court judge denying its motion for a judgment as a matter of law, or, alternatively, for a new trial in its legal claim against Apple. Apple’s motion for judgment as a matter of law, which was submitted conditionally upon the success of BSD’s motions, was […]

CMA looks at GW Butler-Healthcare Environmental deal

The Competition and Markets Authority is looking at the completed acquisition of GW Butler Limited by Healthcare Environmental Services Limited. The CMA is considering whether this transaction has resulted in the creation of a relevant merger situation under the provisions of the Enterprise Act 2002 and, if so, whether that has resulted, or may be […]

Azonto minimising expenditure

Azonto Petroleum is taking difficult but necessary measures to minimise expenditure as it focuses on weathering the macro storm, managing director Grégory Stoupnitzky says in a quarterly activities report. He said: “last 3 months have been characterised by a material decline in the price of oil, and an adverse operating environment for companies in oil, […]

Berkeley update on Salamanca progress

Berkeley Resources has issued a report for the three months to the end of December when the primary focus continued to be the advancement of the Salamanca project in Spain. Berkeley’s flagship Salamanca project comprises the Retortillo, Alameda, Zona 7 and Gambuta deposits, plus a number of other satellite deposits located in western Spain. Highlights […]

JLT unveils senior management changes

Jardine Lloyd Thompson has unveiled a raft of senior management appointments within its UK employee benefits business and JLT Asia. These appointments are subject to obtaining the appropriate regulatory approvals, where required. Mark Wood is retiring from his role as the chief executive of JLT’s UK Employee Benefits business and will be leaving the group […]

Fitch affirms Kiwibank mortgage covered bonds at 'AAA'

Fitch Ratings has affirmed Kiwibank Limited’s NZ$191m equivalent outstanding covered bonds at ‘AAA’. The outlook is stable. The rating is based on KWB’s long-term issuer default rating (IDR) of ‘AA’, an unchanged discontinuity cap (D-Cap) of 3 (moderate-high risk) and the highest nominal asset percentage (AP) in the last 12 months (60.6%), as KWB’s short-term […]

Ferratum starts operations in Canada

Ferratum Oyj – an international provider of mobile consumer loans – launched its business in Canada today. The market entry in Canada is part of Ferratum’s growth strategy that calls for operations to be expanded to a total of 30 countries in the mid-term. With the launch of Ferratum’s services in Canada, the company is […]

Dalata gets approval for acquisition

Dalata Hotel Group has received CCPC approval for its proposed acquisition of the Moran Bewley’s Hotel Group. At 8:43am: (LON:DAL) Dalata Hotel Group Plc Ord Eur0.01 share price was -3.62p at 222.63p Story provided by

Alpha Prospects update on Active Energy JV

Alpha Prospects has informed shareholders of an update issued by its investee company Active Energy Group about its Canadian forestry joint venture. The update said that Active Energy welcomed an investigation into Métis procedures related to KAQUO Forestry & Natural Resources Development Corporation. AEG’s board said it noted comments in The Edmonton Journal and confirmed […]

Bowleven gets presidential decree for farm-out

Bowleven has received the signed presidential decree approving the Etinde farm-out deal with LUKOIL/NewAge. Bowleven says it is now await the gazetting of the decree, the final condition to completion of the Etinde farm-out and receipt of transaction proceeds. At 8:34am: (LON:BLVN) BowLeven PLC share price was +1.5p at 27.25p Story provided by

Aquarius update on Zimbabwe export tax

Aquarius Platinum has issued an update on Zimbabwe’s proposed export tax on unrefined platinum. The tax was proposed by the government in 2013 to encourage mining companies to invest in smelting and refining capacity in Zimbabwe. The tax, at a rate of 15% of revenue, was deferred to take effect from 1 January 2015. In […]

Dee Valley warns of challenge from new price limits

Dee Valley has accepted Ofwat’s final determination of price limits for 2016 to 2020 which will cut average household bills by around 2%. Dee Valley says the final determination outcome for the group and indeed the whole sector presents a significant challenge with Ofwat allowing a considerably lower return on capital of 3.6% (2010-11/2014-15: 5.1%). […]

Asian Citrus turnover and core net profits fall

Asian Citrus has confirmed that turnover and core net profit for the six months ended 31 December will be lower than last time. The group says this was anticipated and the key factors affecting the trading performance were highlighted in previous announcements. The actual winter orange crop yield of Hepu Plantation was approximately 7,146 tonnes, […]

InfraStrata inks data release agreement

InfraStrata, the independent petroleum exploration and gas storage company, has concluded a data release agreement in respect of proprietary seismic data in Northern Ireland for which its subsidiary Islandmagee Storage Limited will receive £400,000 in cash. This will be applied towards the funding of the 2015 programme, central to which is the drilling of the […]

Herencia to sell La Serena project for up to $4m

Chile-focused Herencia Resources has entered into an option agreement with Cuprum Resources Chile Limitada to divest the La Serena project for US$4m. Cuprum is part of the B&A Mineracao group and has several mining projects located in South America including nearby in Chile. An initial non-refundable payment of US$150,000 has been received by Herencia. If […]

Mining Sector: Landore up as winter exploration campaign starts

Landore Resources (LON:LND) was one of the sector’s biggest risers after confirming the start of the winter exploration campaign at its 100%-owned Junior Lake property in Ontario. It says that a review of existing data has established that the Alpha Zone immediately adjacent to the B4-7 nickel-copper-cobalt-PGEs deposit is far more significant than previously determined […]

Black Sea Property agrees loan

The Black Sea Property Fund has agreed an unsecured loan of up to £350,000 with Mamferay Holdings. Black Sea Property said £100,000 is to be drawn down immediately and the remaining £250,000 may be drawn down once the company has received approval from the Jersey Financial Services Commission to extend the life of the company. […]

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