Paternoster Resources, an investment company focused on the natural resources sector, highlighted the discrepancy between its net asset value per share of 0.52p versus its current share price after it invested in the recent placing of shares in Quadrise Fuels International. As at the close of trading on November 6th, Quadrise's shares were trading five-eighths above their placing price.
Coking coal producer Beacon Hill Resources is to raise around £3m through the issue of unsecured convertible loan notes. The funds raised, along with the recent issue of equity to contractors, strengthens the company's balance sheet and means the company is funded through to the completion of the Phase II wash plant upgrade. The loan notes are convertible into ordinary shares of Beacon Hill at 4p each. The notes mature on June 30th, 2015 and pay a coupon of 10 percentage points above the London interbank offered rate (LIBOR) per annum on a quarterly basis.
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