JPMorgan Claverhouse beat the FTSE All-Share Index over the first half of 2015, posting a 4.2% return on net assets as compared to a 3.0% return on the benchmark. The discount to net asset value at which the Company’s shares trade widened out from 3.4% at the end of the last financial year to 6.6% […]
JPMorgan American just edged ahead of its benchmark in H1 2015 in what turned out to be a flat period for the US market – JPMorgan American’s net asset value return was 0.5% as compared to a 0.2% return on the S&P500 Index. The manager says that the portfolio benefitted from strong stock selection in the health […]
Randgold Resources’ H1 2015 earnings were US$1.10/share, down 20% from the corresponding period of 2014 as the company received a gold price US$91/oz lower than 2014, and despite increasing gold production (and sales). Gold production rose to 580 koz for the half year, with Q2 2015 production reaching a record 300 koz. Total cash costs […]
Ferrexpo, the iron ore pellet producer with mines in the Ukraine, has reported a 45% fall in EBITDA for H1 2015, from the corresponding period of 2014, to US$176 million, with EPS down 44% to USc19.6. Despite an 8% increase in pellet production, to a record 5.8 Mt, and a 30% reduction in cash costs, […]
UK-based precious metal consultancy group, Metals Focus, has estimated that at the current gold price of below US$1,100/oz, some 24%, or around 400 t, of annual gold production is being mined at a loss, using the all-in sustaining cost (AISC) measure. The consultancy bases its conclusion on its annual global cost curve, which represents some 1,650 […]
Over the year to the end of May 2015, Henderson Smaller Companies generated a 20.4% return on net assets and a 28.2% return to shareholders both of which compare well to a 10.4% return on the Numis Smaller Companies Index for the same period and the average returns for HSL’s peer group (14.3% on NAV […]
Xtract Resources has intersected a second high grade gold reef system (’Reef system B’) at the Colin mining area at its developing Chepica gold and copper mine, in Chile. The new system grades 3.9 g/t over a 4.1 m width in situ and to-date the company has developed 10 m along strike. Xtract believes that […]
The Board of Pacific Alliance Asia Opportunities has been worried about the fund becoming too small and believes a large number of shareholders want to swap their investment for one in the underlying feeder fund through which the fund invests. It is proposing therefore that the closed-end fund be wound up. they have called an […]
MedicX Fund Limited has announced that it has negotiated extended terms for the £50m private placement of loan notes issued in two tranches during August and December 2014. The renegotiation was facilitated by the original loan note arranger Independent Debt Capital Markets. The loan notes previously had a duration of five years maturing in August […]
John Laing Environmental Assets has bought two solar plants for £20.37m. Monksham Solar is located near Frome in Somerset, with a total generating capacity of 10.7MW and is accredited for 1.6 ROCs. John Laing Environmental Assets has bought all its ‘B’ shares plus other economic interests from the founding shareholders and Green Nation, the developers of […]
