“Real is rare” but synthetic diamonds are shining just as brightly – De Beers enters the synthetic diamond jewellery market The news that diamonds can be created in a lab is not news. For many years, the processes to produce synthetic diamonds has evolved to the point where they appear often in jewellery. In the […]
GRIT focused on three key investments – Global Resources Investment Trust (GRIT) has published its annual results. The NAV has slipped to 19.7p from 22.4p but there is the potential for an uplift in this figure if its Kalia deal is agreed – see below. “In the Interim Report, we advised that Siberian Goldfields had […]
Baker Steel Resources sells Prognoz Silver Mine – Baker Steel Resources Trust says that its largest investment, Polar Acquisition Limited has agreed to sell its 90% interest in Polar Silver Resources Limited to Polymetal International plc for US$72 million (to be satisfied in Polymetal shares). In January 2017, Polar sold a 10% stake in its subsidiary […]
BlackRock Commodities Income sticks with lower dividend – Over the year to 30 November 2017, BlackRock Commodities Income delivered a negative return on net assets of 3.2% and the share price return was -4.4%. Over the same period, the Euromoney Global Mining Index rose by 8.9% and the MSCI World Energy Index fell by 4.1% […]
Geiger Counter benefits from uranium production cuts – Geiger Counter says that, for the year to 30th September 2017 its net asset value fell by 7.3 per cent which was in line with the fall in the spot uranium price. The share price rose by 15.9 per cent over the year with the discount being 3.3 per […]
Central Asia Metals PLC (AIM: CAML) has received approval, from the Macedonian Competition Commission, for the acquisition of Lynx Resources (see post 24 Sept). Therefore, the transaction is expected to be completed on 6 November 2017. About Lynx Resources Lynx is a Bermudan holding company set up explicitly to acquire the Sasa mine in 2015, […]
Wolf Minerals (AIM: WLFE, ASX:WLF) has secured an additional £10m in funding from major shareholder Resource Capital Fund VI to help it complete the operating turnaround plan at its Drakelands tungsten/tin mine. This increases the existing bridge facility from £45m to £55m. The key elements of the turnaround plan are modifications to the dense media […]
Central Asia Metals plc (AIM: CAML) is on course to achieve copper production at the upper end of its 13,000t-14,000t guidance range from its Kounrad operation for 2017 after producing 3,842t in Q3. This takes the total for the year to date to 10,869t. Since starting irrigation of the Western Dumps in April 2017, the […]
City Natural lags benchmark, ETF to blame? – City Natural Resources says that on 30 June 2017 its net asset value stood at 132.7p, giving a net asset value total return for the year of 7.9%. The benchmark index returned 17.7%. The shares returned 17.8% as the discount narrowed from 22.7% to 17%. This year’s […]
Global Resources writes up Bougainville gold investment – Early this year, Global Resources Investment Trust completed an A$1,250,000 investment in Kalia Holdings Pty Ltd, a private Australian company that is the parent company of a Papua New Guinean registered subsidiary Kalia Investments Ltd. Kalia Investments Limited holds contractual rights to explore for minerals and develop […]
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