Date: Tuesday 10 Aug 2010
LONDON (ShareCast) - Ambrian has started coverage of pan-African resources firm Mwana Africa with a ‘buy’ stance and risked net asset value of 30p a share.
That follows an audited resource and reserve that the company says confirms the economic viability of its plan to restart the Trojan mine.
Now that the report is complete, Bindura Nickel Corporation, in which Mwana has a controlling interest, can complete financing and offtake arrangements for the restart of production.
Gold production at AIM-listed Goldplat’s two gold recovery businesses in South Africa and Ghana continues to perform strongly.
Boss Demetri Manolis is also highly confident of the potential that the Nyieme project in Burkina Faso - a “key focus” for the firm – and is looking at possible acquisitions in southern and West Africa.
Kazakhstan-focused Roxi Petroleum has completed the 2010 seismic acquisition programme at the BNG Contract Area, where it has a 23.4% interest, ahead of schedule.
Chief executive David Wilkes hopes to proceed with the 2011 seismic programme later this year.
Hold-ups out of Roxi's control have delayed a third party assessment of its resource base in BNG until the fourth quarter of 2010.
Industrial fastener and components group Trifast will “significantly” exceed market expectations for the current year as an uplift in business continued through to the first quarter of the new financial year.
Revenue for the three months ended 30 June was up 28% on the same period last year, while gross margins stayed at levels similar to those of the second half of last financial year.
Condor Resources is living up to its name today. The shares are soaring after the gold exploration company announced that a trench and drill sampling programme is underway on its El Rodeo Concession in La India Gold District of Nicaragua.
Tissue replacement products developer Tissue Regenix has received European CE Marking for its dCELL Vascular Patch, which is intended to be permanently implanted into the human body for vascular repair.
Indian property investment company Naya Bharat made a profit before tax of $15.09m in the year to 31 March, compared to a loss of $51.13m the year before when the company took a $50.45m hit on the value of its financial assets. Net asset value per share at the end of March was $0.53.
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|% Change||0.00 %|
|52 Week High||16.38|
|52 Week Low||8.81|
|Time||Volume / Share Price|
|16:24||5,586 @ 8.95p|
|16:21||22,185 @ 8.93p|
|16:02||8,646 @ 8.83p|
|15:58||12,000 @ 8.94p|
|14:58||10,000 @ 9.00p|
|Finance Director||Ian Visagie|
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