UK Mortgages has published its first set of accounts, covering the period from 10 June 2015 to 30 June 2016. At the end of the period, the NAV was 94.95p, the share price 96.75p and they had declared dividends totalling 3p for the period. They say that the pace of investment has been slower than […]
Mariana Resources Ltd. (MARL:AIM) (MRA:TSXV) Reports assay results for Hot Maden Project; a total of 13 infill and extension, diamond drill holes with drill log data provided for a further 7 holes for which assays are pending. The drill program is to reduce drill hole spacings to 25m intervals in order to provide detailed geotechnical data for […]
Fidelity Asian Values’ NAV increased by 33.8% over the year ended 31 July 2016, outperforming its benchmark by 18%. The company delivered a return to shareholders of 33.3%. The board is recommending a dividend of 4.50 pence per ordinary share, an increase from 2.00p in 2015. Fidelity Asian Values plans bonus issue of subscription shares Fidelity Asian Values’ board […]
JZ Capital Partners has announced its interim results for the six-month period ended 31 August 2016. JZCP’s net asset value per share increased from $10.15 to $10.40, or 2.5% in dollar terms, equating to a 3.9% total return in dollar terms. The Board has declared an interim dividend of 15.5 cents per share, compared to 16 cents (paid […]
Aberdeen Asian Smaller Companies reports a “good set of results for the year ended 31 July 2016”. The net asset value total return was 18.4%, while the share price increased by 19.4% reflecting a slight narrowing in the discount from 11.9% to 11.4%. In comparison, the MSCI AC Asia Pacific ex Japan Index returned 17.6% and […]
Sale of intu Bromley intu properties plc has exchanged contracts to sell its 63.525 per cent stake in intu Bromley to Alaska Permanent Fund Corporation (‘APFC’) for GBP177.9 million, representing a premium to its 30 June 2016 valuation of GBP175.9 million. The topped-up net initial yield based on market value at 30 June 2016 was […]
Target Healthcare REIT Limited has completed the acquisition of a purpose built care home in Tonbridge, Kent. They paid approximately GBP12.2 million for the property, including acquisition costs. Target Healthcare had previously entered into a forward commitment to acquire this property. This is a purpose built home which was completed in early October 2016. It has 101 bedrooms […]
During the six months ended 31 August 2016, BlackRock Smaller Company’s net asset value increased by 8.8% to 1079.28p per share, marginally underperforming its benchmark by 0.7%. The fund’s share price increased by 3.8% to 895.5p per share over the same period. The FTSE 100 Index rose by 11.2% over the period, the FTSE 250 Index […]
Petra Diamonds (PDL-LN): Q1 2017 (1 July – 21 October 2016), production up 30% over Q1 2016 to 1,097,523 carats, due to the positive increase to initial production from undiluted areas, improving run-of-mine (RoM) grades at both Cullinan and Finsch and increased tailings production from Kimberley Ekapa Mining. The company is on track to be cash flow […]
Goldbridges Global Resources (GBGR:LSE) The Sekisovskoye underground gold mine is progressing towards the medium term target of 100k oz Au per annum in 2019; ontime and within budget. Ore bodies 3 and 8, accesible by the second decline are now able to deliver ore to the processing plant and are expected to deliver a significant […]
Wolf Minerals has reached agreement with its major shareholders, its lenders and its concentrate offtake partners on a funding arrangement to ensure its Drakelands tungsten/tin mine can continue to ramp up operations to full, commercial production. The key points of the agreement are: 1. A standstill of the senior debt conditions until either Devon County […]
Rambler Metal & Mining (RMM-LN) (RAB-CN) The company achieved their production target of 241,080 dry metric tons milled at the Ming Mine, a 12% increase over fiscal year 2015. Achieved lower C1 costs of US$1.72 /lbs down from US$2.11/lbs in fiscal 2015. The copper grades of 2.12% and gold grades of 1.40 g/t were in […]
Ahmet Sinan Kalpakçıoğlu (born in 1961) has been indicted for aggravated theft of money from two group companies while serving as The Ottoman Fund’s CFO in Turkey. If convicted, Kalpakçıoğlu faces in excess of twelve years’ imprisonment and fines. On 19 October the Istanbul 8th Criminal Court of First Instance accepted the indictment and set a […]
Firestone Diamonds (FDI-LN), The company recovers its first diamonds from the Liqhobong Diamond mine in Lesotho, owned 75% by Firestone and 25% by the Government of Lesotho. Initial recoveries are as expected and confirm presence of fancy yellow diamonds. Commissioning is 96% complete. Waste stripping is on target and ramp-up to commercial production has commenced. […]
Jubilee Platinum (JLP-LN) Q3 2016 chromite concentrate production from the Dilokong Chrome mine (DCM) tailings project was 28,559 tons an increase of 88.04% from Q2, 2016. The revenue generated from chromite concentrate sales increased 108.22% to £2.09m over Q2, 2016. Chromite project earnings were up 108.13% to £1.55m over Q2. Earnings attributable to Jubilee, for […]
Bluefield Solar Income Fund has announced the results of its recent placing. The company says that commitments for 60,000,000 new ordinary shares were received and will be issued at a price of 101p per share, raising gross proceeds of approximately £60.6m. The New Ordinary Shares, which represent approximately 19% of the issued ordinary share capital […]
South32 (S32.L) Q1 2017 results impacted by metallurgical coal production at Illawarra. Challenging geological conditions encountered at Appin Area 9 and 7 caused a decrease is saleable production by 26% (646kt) to 1.4Mt. Coal sales of 9.3Mt now expected in FY17 as the operation has recovered and finished good inventory has been reduced by 300kt. […]
Over the twelve months to 31 August 2016, BlackRock Greater European’s net asset value per share increased by 16.9%, compared with a rise of 15.4% in the FTSE World Europe ex UK Index. The share price rose by 13.8% over the same period. The Board is proposing the payment of a final dividend of 3.65p […]
Over the year to 31 August 2016, Aberdeen Latin American Income Fund’s NAV total return was 46.2%, ahead of the 38.8% rise in its composite benchmark’s return. On a total return basis the Ordinary share price rose by 36.7% to 66.63p reflecting a widening in the level of discount to NAV per share which moved from […]
MedicX has contracted to acquire, by way of forward funding, a new primary healthcare medical centre in Brynmawr, South Wales. The property is due to be completed in November 2017. The acquisition is being made under the framework agreement with General Practice Investment Corporation (“GPI”) which was agreed in May 2013. The completed development will […]
The Board of BH Macro has announced that the company and its manager, Brevan Howard Capital Management LP, have agreed that the Manager will waive its entitlement to a management fee in respect of any performance-related growth of the Company from 3 October 2016 onwards. In addition, Brevan Howard Master Fund Limited will not charge […]
During the six months ended 31st August 2016, the total return on JPMorgan Income & Capital’s shareholder’s funds was 6.3%, compared with a return of 12.4% recorded by the composite benchmark (comprising 90% FTSE 350 Index and 10% Bloomberg Barclays Global Aggregate Corporate Bond Index in sterling terms). The Board has declared two quarterly interim […]
In the year to 30th June 2016, the total return on JPMorgan Global Convertibles Income’s net assets was 0.0% compared to -1.0% last year. The return to shareholders, which reflects the share price movement and the dividend, was -9.5%. Three quarterly dividends totalling 3.375p per share were declared and paid during the year. The Board […]
Picton Property Income has published an update following the repayment of all its 7.25% zero dividend preference shares and revolving credit facility, together with asset disposals announced in August and October: GBP45 million of NAV accretive disposals, reducing central London office exposure. Repayment of GBP15.8 million previously drawn under a revolving credit facility. Repayment of GBP29.1 million […]
UK Commercial Property Trust faces a continuation vote as it has been trading on too wide a discount. Continuation votes triggered by the fund’s discount trading at wider than 5% for 90 days were built into the structure of the fund. The vote was triggered on 11 October 2016 and the meeting will be held […]
SVG Capital has announced that it has sold 100% of its portfolio having today signed an asset transfer deed with Harbourvest. Harbourvest Structured Solutions III LP is paying £807m for the portfolio. The price is a small (0.6%) premium to the NAV at end July 2016. Taking that figure, adding SVG’s existing cash pile and allowing […]
JPMorgan Smaller Companies has published its results for the year ended 31 July 2016. The total return on net assets before dilution was -7.7% (-6.4% after dilution), which compares with +2.1% for the benchmark index. The return to shareholders was -10.1% reflecting a widening of the share price discount to diluted net asset value from 17.0% […]
Kefi Minerals has received a Front End Engineering and Design proposal for US$68 million from Lycopodium for the EPC contract to build a mine at its 95%-owned Tulu Kapi gold project, in Ethiopia. Including contingencies and provisions for non-Tulu Kapi costs, the total capital estimate for the project has been increased to approximately US$150-160m. The […]
