Panmure published a note this morning.. "Brighton Pier Group (BPG) offers investors exposure to a unique and highly cash generative entertainment, catering and hospitality business. The group recently raised £18m to fund the acquisition of Brighton Pier which effectively reversed into Eclectic Bars. The new enlarged group has more robust and stable cash flows with significant scope for growth through expanding its catering offer, investing in new attractions and through leveraging scale and experience. We believe that the current multiple of 7.4x 2017E EV/EBITDA is..." taken from ResearchTree
SP Angel's note out this morning on Research Tree... "Atalaya Minerals has hosted an analysts visit to demonstrate progress on the Proyecto Rio Tinto. It is apparent that, with a committed and energetic team at the helm, the project is ramping up to the planned 9.5mtpa rate of the phase 2 development smoothly and is well placed to meet or improve upon the target date of achieving this throughput by Q3 this year. The ramp-up of production is proceeding well, and we look forward to further news on possible resource/reserve updates and upgrades."
SP Angel's note out this morning, pulled from Research Tree: "Horizonte Minerals reports that the Environmental Agency of Para State has granted a Preliminary Environmental Licence for the mining and treatment plant at Araguaia. The Preliminary Environmental Licence signals that the State authorities are supportive in principle to the development of Araguaia, however there will be a number of further milestones along the route to development. The release of the updated PFS in the second half of this year is likely to be an important step towards the Definitive Feasibility Study required for the next regulatory step – the Installation Licence."
SP Angel note out this morning on Research Tree: "Shanta Gold report they have completed the restructuring of their convertible loan. We sat down with management last week to understand the deal...There appears to be significant potential from the exploration and development of extensions to the existing pits and new underground workings. Shanta looks well set on the road to financial recovery with relatively steady gold production and an improved mine plan in place. The team understand so much more about the geology of the license area with the potential to discover allot more high grade gold ore in our view."
SP Angel's note out this morning: "Sirius Minerals reports that it has “entered into a new take-or-pay agreement ... with Yunnan Dian Huang Peony Industrial Group†(Dian Huang) The agreement will cover a “period of ten years from first production, ramping up to one million tonnes per annum over the first six years of the contractâ€. Pricing will remain confidential, however the Company advises that... Sirius Minerals continues to expand and develop market acceptance of the polyhalite product. The restructuring of the offtake agreements with Dian Huang and TCT provides a longer tenure to the agreement and hence adds an improved level of “confidence to both parties moving forward". Scraped this from Research Tree
Beaufort's note from this morning on Research Tree: "The decision to review strategic opportunities for Gocompare.com is a good initiative considering the positive results anticipated from the latter’s business. In the past one year, esure has taken a lot of steps to boost the business of Gocompare.com. The possible demerger of the business would enhance the value delivered to shareholders. The appointment of Mr Crummack would also support Gocompare.com’s business as it expands in insurance companion and focusses on a range of products. Nonetheless, the claims environment for the motor market remains weak which may hamper the earnings of esure."
Beaufort's note out this morning on Research Tree:"Minerals continues to progress and refine the Tulu Kapi gold project as it looks to secure funding. Management continues to de-risk the project and the above announcement reflects the commitment of contractors in their support of the project. Over the coming weeks and months, we look forward to updates regarding finalisation of project financing combined with the recently announced US$20m equity investment by the Government of Ethiopia."
New note out today by Beaufort, scraped from Researchtree: "Stratex continues to support Goldstone, as it increased the loan amount provided to the latter. Goldstone would use the money for general working capital as it progresses in its portfolio of West African gold projects. Goldstone would also use the funds to provide settlement to former CEO Mr Jurie Wessels. Recently, Stratex secured financing for Tembo gold licence, which is a positive move considering the rising gold price and the recent awakening interest in gold projects and gold stocks. The Tembo tenements adjacent to Acacia Mining's Bulyanhulu Mine have yielded multiple gold intersections from previous drill programmes and it now remains to deliver a coherent resource with further drilling. Furthermore, Stratex is directing its future efforts and expenditures towards opportunities in West Africa, a region where management remains focused on exploration and the potential acquisition of new projects. Stratex also continues to consider opportunities in Turkey and the wider region where it already has a footprint in terms of intellectual and operating experience along with a successful exploration team."
Beaufort Securities's note out this morning on Research Tree: "Tiziana progressed well during the FY2015. It strengthened its portfolio by acquiring exclusive licence for both milciclib and foralumab which brings the Group two research projects and two clinical programmes together plus research into a cancer stem cell diagnostic. Group’s successful fund raisings during the period demonstrated Board’s confidence as well as shareholders’ continuing support. Post the period, the Group raised a further £709,406 through the issue of unsecured convertible loan notes to existing shareholders, further expanded its highly experienced clinical development team and announced plans for additional development of foralumab in two clinical indications: i) graft vs host disease, and ii) ulcerative colitis. Moreover, the research agreement with Cardiff University has led to the identification of lead clinical candidate, CB1, a Bcl-3 inhibitor with potent anti-metastatic activity and impressive in-vivo efficacy and safety profile. An Investigational New Drug Application for CB1 will be filed in 2016, with clinical trials expected to begin before the year end. The strengthened balance sheet will support Tiziana to progress its existing and new clinical trials and give Group the resources to expand its presence internationally. We are encouraged by the Group’s performance last year and the commitment by existing investors."
"Zambeef (ZAM LN), the vertically integrated agri-business with operations in Zambia, Nigeria and Ghana, has released interim results for the period ended 31 March 2016 (H1 2016). Revenue: US$98.8m, -3.3% YoY (H1 2015: US$102.1m); FactSet FY 2016 consensus is currently US$198.6m. Adjusted PBT (ex. unrealised FX): US$8.4m (H1 2015: -US$0.3m); FactSet FY 2016 consensus is currently US$7.1m." VSA Capital from Research Tree