Resources round-up: Paternoster, Beacon Hill, Urals Energy

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.

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.

Urals Energy, an independent oil exploration and production company with operations in Russia, has won another victory in its arbitration case against Vyatcheslav Rovneiko. The arbitrator has issued a third partial final award which orders that Rovneiko is liable to pay to Urals Energy the sum of $3.73m. Urals Energy said the only remaining issues in the arbitration process are to determine the amount of Rovneiko's liability to pay interest on the loan and the allocation of the costs of the arbitration. Urals Energy will be seeking to recover its costs now that Rovneiko's liability for the full amount of the principal of the loan has been finally determined by the arbitrator in favour of the company.

Recommended

Share tips of the week - 12 August
Share tips

Share tips of the week - 12 August

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
12 Aug 2022
Britain’s ten most-hated shares – w/e 9 August
Stocks and shares

Britain’s ten most-hated shares – w/e 9 August

Rupert Hargreaves looks at Britain's ten most-hated shares, and what short-sellers are looking at now.
10 Aug 2022
Aviva: One for income investors to tuck away
Share tips

Aviva: One for income investors to tuck away

Insurance giant Aviva is one of the highest yielding stocks in the FTSE 100 – and it’s cheap, too, making it a tempting target for income investors. R…
10 Aug 2022
Director dealings w/e 5 August: what company insiders are buying and selling
Stocks and shares

Director dealings w/e 5 August: what company insiders are buying and selling

Directors’ share dealings can often give investors an insight into the sentiment of company insiders. Here are some of the biggest deals by company di…
9 Aug 2022

Most Popular

UK House Prices Set To Fall? It’s Not So Simple
House prices

UK House Prices Set To Fall? It’s Not So Simple

Figures suggest UK house prices are starting to slide, but we shouldn’t take these numbers at face value, explains Rupert Hargreaves.
11 Aug 2022
Are UK house prices finally heading for a crash?
House prices

Are UK house prices finally heading for a crash?

The latest house price figures show a fall of 0.1% in July. With interest rates rising, inflation hitting double figures and a recession on the cards,…
5 Aug 2022
Three solar stocks to invest in
Renewables

Three solar stocks to invest in

This week, professional investor Nicholas Mersch of the HANetfS&P Global Clean Energy Select HANzero UCITS ETF tells us three solar stocks to invest i…
12 Aug 2022