Duke Royalty shareholders approved the strategy changes proposed at the recent AGM and the fund’s new investments will now be focused on royalty streams. The NAV of the legacy resources assets fell by 69% over the year to the end of March 2015, finishing the period at 7p. the Board initiated a number of cost […]
Petra Diamonds produced 3.2 million carats in the financial year ended 30 June 2015, up 2% from the previous year and in line with company guidance. The company expects production to increase to 3.3-3.4 million carats in FY2016 and targets production of 5.0 million carats by FY2019 as mining at the Cullinan mine moves to […]
The value of Kubera Cross Border Fund’s net assets decreased from $56.9m to $54.8m during the six month period, which ended on 30 June 2015. The Fund’s net asset value per share decreased by 3.8% from $0.52 to $0.50. The company reckons the decrease in NAV is primarily attributable to the depreciation of Indian Rupee vis-à-vis the […]
EPE Special Opportunities has paid £8.6m to buy the Limited Partnership interest held by DES Holdings IV(A) LLC in ESO Investments 1 LP (the Limited Partnership through which it holds most of its existing portfolio). After the deal EPE Special Opportunities is the only investor in ESO 1. The £8.6m is being paid as £5.7m now and £2.9m before 30 September 2015. […]
Marwyn Value Investors revealed its plans for the bulk of the money it raised the other day by selling down its investment in entertainment one. Marwyn is investing £55m in Zegona Communications to help fund that company’s acquisition of Telecable Capital Holding. This deal will take Marwyn’s investment in Zegona up to £67m. They will […]
Scottish American interims covering the six months ended 30 June 2015 show the fund beating the FTSE All World Index with the net asset value total return being 4% vs. 2.2% for the index. Shareholders did even better as the fund moved to trading on a large premium (currently over 8%); the return to shareholders […]
The three Doric Nimrod Trusts have announced results for the year ended 31 March 2015. Doric Nimrod Air One says everything is going according to plan, Emirates have made all payments as they fell due and the company continues to pay quarterly dividends of 2.25p. As at 31 March 2015, the average of three external valuations showed a […]
Acacia Mining’s H1 2015 earnings fell 64% from H1 the previous year to US$14.8 million. Despite increasing gold production by 6%, to 367.3 koz, the combination of a lower received gold price (US$1,200/oz against US$1,290/oz previously) and higher All-in Sustaining costs (ASIC) (up marginally to US$1,133/oz) were principally responsible for the fall in earnings. Results were also […]
Damille 2’s interims, covering the six months ended 31 May 2015, show the NAV rising by 7%. They also returned £9.7m to shareholders via a redemption offer, bringing the total returned to shareholders to date to £19.2m. They say they have been taking advantage of market weakness to add to holdings. Since the Period end […]
LMS Capital’s interims for the first half of 2015 show its NAV rising by a penny to 94p. They sold off investments worth £26.6m including the sale of five fund positions in the secondary market which raised £9.2m after costs; ChyronHego Corporation (one of our US quoted investments) was bought by Vector Capital – the cash proceeds […]
