"Fabrication of the plant modifications at RHA have been completed and are being transported to site. Civil construction work has commenced and the Company is targeting 06/07/16 for completion. Bulk test-work on the tailings indicates the potential to supplement ROM ore during the underground mining ramp up phase. Early XRT results on a low-grade bulk sample from the open pit confirm the potential for the upgrading of the ore. Positive update from Premier African Minerals with the modifications to the plant remaining on schedule for the 6th July. The Company is looking to ramp up production levels to 9,000t per month from the underground mine." Northland note out this morning on research tree
Northland Capital Partners put out a note on research tree: "2015 was a difficult year for Arian Silver Corporation with the development issues at San Jose combined with the low silver prices meant that it was unable to make its debt repayments to Quintana. As a result of these issues, the Company had an orderly foreclosure and concluded a settlement deed with Quintana that resulted in the disposal of the San Jose Project, removal of the Quintana debt and associated finance, along with a cash injection in to Arian of US$700,000 from Quintana. Since this period the Company has reduced its corporate overheads by two-thirds and secured an exclusive option on the Noche Buena gold and silver tailings project. This project has a historic NI 43- 101 mineral resource estimate of 100,000oz Au at a grade of 3g/t Au and 1.7moz Ag at a grade of 55g/t Ag and represents an attractive low cost near-term production opportunity."
finnCap's note out today on research tree "Omega Diagnostics’ FY2016 results were in line with our expectations. Sales rose 5% (7% CER), driven by Food Intolerance (+19%) which offset expected declines in Allergy and Autoimmune and a flat Infectious Disease performance. We expect Allersys to launch in FY 2017. Moreover, there is a clearer roadmap to market for Visitect CD4, for which some of its technical challenges have seemingly been resolved. This enables management to invest more confidently for growth, which is reflected in our forecasts."
Zeus note from research tree "Yesterday’s update reveals “MAB has already received an unprecedented number of remortgaging enquiries from customers on its website. MAB expects the reduction in house purchase transactions that was experienced ahead of the referendum to continue until the effects of the outcome on the wider UK economy become clearer. In the meantime, MAB advisers will continue to maximise the opportunities arising from their mortgage and protection leads."
Broker Zeus Capital's view: "This morning Ceres Power revealed Nissan as the ‘global automotive partner’ in the electric vehicle (‘EV’) range extender program it is leading, which was first announced to the market on March 22nd this year, and constitutes further excellent commercial progress. Automotive OEM partner Nissan joins existing Ceres partners Honda in stationary power generation, and KD Navien (Korea’s largest boiler company) in residential micro combined heat and power (‘mCHP’)." on research tree
finnCap note out this morning on research tree "Leasehold ownership underpins much of the UK residential property market and, based on HML’s service platform, provides the group with a long-term growth opportunity. Although market complexity restricts simple economies of scale, with 60,000 units under management and capable of double-digit unit annual growth, HML’s growing national presence promises many years of progressive growth."
finnCap note out this morning on research tree.. "The final results are ahead of forecast and last year, our current year forecast remains unchanged and the introduction of a 2018 forecast implies two-year forecast growth in adjusted PBT of 70%. The group holds 6p per share net cash, and excluding any future acquisitions is expected to remain cash generative. The business is also expected to be a beneficiary of any weakness in sterling. The valuation metrics however look anomalous to us given this positive investment profile with an EV/EBITDA multiple of 2.5x and a yield of 4.3%. "
Panmure's view on the impact of brexit on avon (from research tree) "Avon Rubber is protected from the Brexit fall-out as 75% of sales are dollardenominated and only 1% of revenue is sterling-denominated. There is a small amount of exports of Protection products from the UK to Europe, which may be impacted if the UK is forced out of the single market. If cable stayed at the current level ($1.31) for the foreseeable future, we estimate it would add 4% to FY2016 EPS and 8% to FY2017 EPS. Milk prices have stabilised at low levels and the risk from this is on the upside."
Panmure note out on research tree.. "Greene King will release FY16 results (52 weeks to 01 May 2016) on Wednesday – the first leisure company to report post the referendum with its outlook statement likely to have implications for the wider sector. Like all consumer discretionary businesses, Greene King is vulnerable to a downturn in consumer confidence/spending; however, its freehold backing, low rent roll and selfhelp/integration initiatives make it less operationally geared than most of its peers."
Panmure note out this morning on research tree