News

Over the year to the end of December 2016, Aberforth Smaller Companies delivered a return on net assets of 5.8%, lagging its benchmark which returned 11.1%. The discount widened and so the return to shareholders was -4.2%. They are paying dividends for the year of 27.35p, which represents an increase of 5.2% on 2015. The […]

Epiris, managers of Electra, have announced the sale of leading insurance claims service provider Davies Group to HGGC, the US based private equity firm, for GBP90 million. Electra has received proceeds of GBP45 million from the sale, an uplift of GBP2 million or 4% on the valuation of its investment in Davies at 30 September […]

Sylvania Platinum (SLP:AIM) Results from its PGM, Sylvania Dump Operations (“SDO”) in the Bushveld region of South Africa, for the quarter ended 31 December 2016 (Q2). The company produced a record 18,562 oz for the quarter, an 8% increase on the previous quarter of 17,257 oz. H1 production was 35,819 oz. The outlook for the […]

Duet Real Estate Finance has announced that full repayment of all principal and accrued interest has been received on the Master Fund’s Belgian Office loan (Loan 11), earning returns in-line with its investment criteria. The Company will announce further details concerning returning its cash to shareholders in the most efficient and cost effective manner shortly. […]

Pacific Industrial & Logistics REIT (PILR) has announced that on 19 January 2017 it completed the purchase of a site at Holmewood Industrial Park, Chesterfield, from Tangerine Confectionary Limited for a total consideration of £4.8m. PILR says that the purchase has been financed using proceeds from its recent placing (which raised £11.1m) but that this […]

Alliance Trust has announced that it has entered into an agreement with its largest shareholder, Elliott International, L.P., The Liverpool Limited Partnership and Elliott Associates L.P. (collectively Elliott), to repurchase all ordinary shares in the Company in respect of which Elliott has a disclosable interest – this being 19.75% of Alliance Trust’s issued share capital. […]

The Board of London & St. Lawrence Investment Company  is proposing a scheme of reconstruction and members’ voluntary liquidation. Under the reconstruction, shareholders will have the option of electing to: (a) roll over their investment into new units in Practical Investment Fund, a unit trust with the objective of providing investors with above average capital […]

MedicX is entering a joint venture agreement with General Practice Investment Corporation Limited (“GPIC”), a leading developer of primary healthcare centres which has delivered over 200 schemes across the UK since it was established in 1995. A 50:50 jointly controlled company will be created which will be called GP Property Limited. GP Property Limited will be […]

BlackRock Income Strategies has published results for the year ended 30 September 2016. It recorded a 0.4% loss for investors on an NAV basis and a 10.2% loss to shareholders based on the share price. The dividend was unchanged at 6.54p. These returns are disappointing in the context of the fund’s investment objective but the […]

Pan African Resources (PAF:AIM) The company issued a trading statement today as their financial results will differ by at least 20% from those of the previous corresponding period. The company estimates that EPS for H2 2016 will be 0.87p to 0.99p which is 45% to 65% higher then the 0.60p EPS for the prior reporting […]

Amerigo Resources (ARG:TSX) The company reported record annual production from Minera Valle Central (“MVC”) operation located near Rancagua, Chile. MVC produced 56.8 million lbs of copper in 2016 at a cash cost of $1.73/lb. Good performance from the Cauquenes deposit resulted in the record copper production within the original guidance. Q4 2016 production was 13.6m […]

Highland Gold Mining (HGM:LSE) The company achieved production in the upper half of guidance for 2016. Gold and gold equivalent production for the year was 261,159 oz, this compares to 262,495 oz for 2015. The slight decline in production could be attributed to the treatment of low-grade ore stockpiles (-1 g/t) at Belaya Gora during […]

Firestone Diamonds (FDI:AIM) The Liqhobong Diamond Mine, 75% owned by Firestone and 25% by the Government of Lesotho, is ramping up to nameplate capacity after completing construction in early Q4, 2016. First diamond recoveries occurred in late October 2016. By the end of the quarter ended 31 December 2016, over 20 special stones larger than […]

Rambler Metals (RMM:AIM) (RAB:TSXV) The company provided production guidance for the 2017 fiscal year, which will now be the same as the calendar year. Also provided five month Stub period for production ending December 31, 2016 as they transition their fiscal year. Saleable metal for 2017 is expected to be 5,100-5,800 tonnes of copper and […]

Aberforth Geared Income Trust (AGIT) has announced its interim results for the six months ended 31 December 2016. During the period, AGIT’s total asset total return (its ungeared portfolio performance) was 17.4%. However, with the benefit of the gearing provided by the ZDP share, in a rising market, the ordinary share’s net asset value total […]

Oakley Capital Investments Limited (OCIL) has announced a placing of up to 17 million treasury shares in the Company. The placing will be priced at 157 pence per treasury share and will be conducted by means of an accelerated bookbuild to institutional investors. OCIL says that the final number of treasury shares and the price […]

John Laing Environmental Assets (JLEN) has announced that it is proposing to raise £25m by way of an initial placing under its placing programme, the prospectus for which was published on 16 December 2016. It intends to use the net proceeds to fund a near term pipeline of opportunities across the Solar, Wind and Biomass […]

Rambler Metals (RMM:AIM) (RAB-TSXV) The company has been testing the use of Dense Media Separation (‘DMS’) as a pre-concentration step before milling of the ore in the processing plant with the objective of expanding the Ming Mine beyond the current planned 1,250 metric tonnes per day (‘mtpd) mining rate. The test processed 2,200 dry metric […]

Shanta Gold (SHG:AIM) The company reported record annual gold production for 2016 of 87,713 oz; beating guidance of 82k-87k oz. All in sustaining cost for 2016 was US$661/oz which was lower than guidance of US$690-740/oz and an improvement over 2015 AISC of US$845/oz. Q4 2016 production was 18,897 oz Au, at AISC of US$747/oz. The […]

Juridica Investments (JIL) has announced that it has been informed of a change in ownership at Juridica Asset Management Limited (JAML), its investment manager. It says that, effective 11 January 2017, Richard Fields, founder and sole owner of JAML, sold the entirety of his interest to John Sicilian. John Sicilian and William Yuen previously had […]

Dolphin Capital Investors (Dolphin) has announced that it has entered into an agreement for the disposal of its 60% interest in Pearl Island, a private island development off the coast of Panama, to Grivalia Hospitality S.A. (Grivalia). Dolphin is to receive a cash consideration of €27m, before related tax and fees, which it says represents […]

Redefine International (RDI) has announced that it has completed the sale of four German office assets for a gross consideration of €106m. The assets, which it says were disposed of via a share sale, were held in a joint venture with the Menora Mivtachim Group (Menora). RDI has earned an IRR of 27% on the […]

Central Asia Metals plc has released the results of a definitive feasibility study (DFS) for its 75%-owned Copper Bay tailings project, in Chile. Based on a mineable resource of 34.8Mt at a grade of 0.24% copper (84,635t contained), the project could produce 8,640t/y of copper for seven years at an average C1 cash cost of […]

On 29 November 2016, Acorn Income Fund’s (AIF’s) Board announced proposals including the extension of the life of the existing ZDP Shares to 28 February 2022; a Continuation Offer to ZDP Shareholders whereby such holders were given an opportunity to either receive their 2017 Final Capital Entitlement in cash on 31 January 2017 or to […]

Empiric Student Property (Empiric) has announced that it has acquired the freehold of a 220 bed student accommodation scheme, Foss Studios, in York for £23.3m (excluding costs). Empiric says that Foss Studios was completed for the 2015/16 academic year and comprises 220 large, well specified, studio rooms across three purpose built buildings. The scheme is […]

Standard Life Investments Property Income Trust has announced that it has completed the sale of The Quadrangle, in Cheltenham, for £11.075m. The Quadrangle is a 1970s office block that extends to approximately 58,900sqft. The Trust acquired The Quadrangle in Dec 2015 as part of the Pearl portfolio for £10.05m including costs. The property was single […]

Mariana Resources (MARL:AIM) (MARL:TSX-V) Mariana announces a positive preliminary economic assessment (PEA)  for the Hot Maden underground mining project, 30% owned with Tukish partner Lidya who owns 70%. Post-tax NPV US$1.37 billion. Post-tax IRR for the base case mining 153% excluding acquisition costs. Total metal production of 2.6 million ounces of gold and 142,000 of copper over […]

Picton Property Income has announced that it has disposed of two small, non-core retail assets in Bath for a total of £3.23m. The sale price reflects an aggregate net initial yield of 4.7% and a 29% premium to the 30 September external valuation. The company says that the disposals of 2 Bath Street and 6 […]

Symphony International Holdings has announced the implementation of an ongoing buyback programme starting today. The company says that its shares continue to trade at a significant discount (approximately 32% to latest published NAV). However, it says that ‘nvestments in listed securities and cash cover the share price by 1.04 times. As such, it says that […]