Northland also published a note this morning: "Savannah Resources has joined the increasing number of companies moving into the lithium space with the acquisition of two early stage hard rock lithium projects, located in Finland. Both of the projects have been shown to contain lithium bearing minerals but to date no geochemical sampling has been completed, giving Savannah the opportunity to initially advance the projects at a low cost. The rise in the lithium price from US$8/kg to over US$25/kg in the past 12 months has been driven by supply shortages and has led to significant interest in the space." From Research Tree
Northland's note from this morning. "2015 was a transformational year for Mariana Resources with the discovery of the ultra-high grade Hot Maden Gold-Copper project in Turkey. Since the discovery of Hot Maden, Mariana and joint venture partner Lidya have rapidly advanced the project to an initial compliant mineral resource estimate of 3moz Au eq. t a grade of 11.2g/t Au eq. This resource estimate looks set to grow this year with subsequent drill programmes continuing to extend the mineralised zones, and the discovery of the high-grade gold mineralisation to the south." From Research Tree
AlphaValue also published one: "Wolseley reported H1 FY16 results below our estimates. In Q2, the lfl revenue growth declined sequentially for the fourth straight quarter, clocking +2.3% (vs our estimate: +4.2% and management guidance: +4%), pinned down once again by weak industrial demand in North America (the adverse impact of low oil prices, a stronger USD and destocking by manufacturers; accounts for c.15% of US sales and c.10% of Canada) and ongoing sluggishness in the UK’s RMI activity (lfl growth: -2.9% vs Q1: -1.1% and Q4 15: +3.1%; c.15% of group..."
Beaufort's note from this morning: "Wolseley delivered a resilient Q3 performance, against the backdrop of tempering demand in number of its international market and commodity price deflation. Price deflation in the US continued to affect the Group's revenues, with a 2.3% reduction in LFL revenue growth. While +5.0% growth in LFL revenue in the US were stronger than Q1 and Q2 (+4.5% and +4.0%), boosted by strong growth in Blended Branches, Waterworks, Heating, Ventilation and Air Conditioning, Fire and Fabrication and B2C businesses. In the UK, repairs, maintenance and improvement markets remained weak, but the Group made good progress reviewing its UK operating model which expects to be completed by August. In the Nordic areas, adverse weather conditions and the reduction of tax incentives impacted spring sales. In Canada, weakness in the oil prices in the West was offset by relative strength in the East. In Central Europe costs remain tightly controlled, which resulted in a slight improvement in gross margins. Overall, the Group's trading profit was encouraging, positively impacted by the extra day of trading, representing an additional £6m together with favourable exchange rates which added £11m. Post the period, the Group said LFL revenue growth so far in Q4 is about 1.0%. To summarise, although the outlook provided by the management remained somewhat unexciting, we believe Wolseley's ongoing restructuring in the UK and Europe, together with management's ability to adequately acquire and dispose assets will continue to deliver growth over the longer-term. With its full year outlook for trading profit (before restructuring costs of £20m) remaining in line with current consensus analysts' estimate at £925m, Beaufort..." From Research Tree
Beaufort's note out this morning, it's free to download from Research Tree... "The acquisition of CMI strengthens UBM's portfolio and position in the US events industry. Content marketing is an exciting sector that complements UBM's presence in the technology sector. Recently, UBM released a trading update and stated that its performance was in line with expectations for the year to date. The large events continue to drive performance, most notably, Game Developers' Conference, MAGICVegas, Enterprise Connect, MD&M West and Hotelex/FineFoods. The company made good progress in the implementation of the first events transitioning onto the new Customer Relationship Management (CRM) platform and in procurement savings on target. Integration of the recently acquired Business Journals Inc is underway. In light of the developments..."
Beaufort's note out this morning on Research tree: "Savannah has acquired two highly perspective lithium projects in Finland, a mining friendly jurisdiction. While still an early exploration play we are encouraged with the potential for lithium mineralisation in the area. Given that the global lithium demand is expected to double by 2025 on the back of the burgeoning battery market, Savannah is looking to capitalise on the lithium market and diversify its portfolio. We look forward to further updates and granting of permits as well as continued developments on the copper-gold deposits in Oman and the heavy mineral sands in Mozambique. In the meantime..."
Beaufort's note published this morning on Research Tree... "Following Horizon's announcement on 12th of May of a deal with an NGS Company, we are now given the name of the Company - QIAGEN N.V. a US$5bn NASDAQ and Frankfurt listed global leading NGS platform enterprise. Importantly, the deal demonstrates the impact Horizon's Reference Standards are having in supporting the rapidly growing NGS market. Further, future joint collaborations are expected as work continues to unlock the full clinical and research potential of both technologies. In addition, QIAGEN's GeneRead QIAact Actionable Insights Tumor Panel is the first in a family of multiplex panels for the GeneReader NGS System targeting the most prevalent types of cancer research, including breast, ovarian, colorectal, lung and melanoma. The accuracy, consistency and reliability of this Panel was validated through extensive testing compared with the control data derived from Horizon's Reference Standards, proving its performance. Yesterday's announcement validates further the quality of the Horizon Discovery's services on offer. We believe there is more opportunities for Horizon Discovery in this space. We..."
Beauforts note from this morning: "Halfords delivered excellent performance in FY 2016 on both financial and operational fronts. The company's retail segment led growth, with the motoring side of the business recording higher sales, despite unfavourable weather conditions. Cycling sales were down due to strong comparatives, poor weather and discounting across the market. Service-related sales increased 8.5%, driven in particular by cycle repair and elements of motoring fitting, such as audio and roof boxes. Halfords' Autocentres segment continued its growth momentum, recording higher margins and LFL sales growth for the 10th consecutive quarter. The company's Moving Up a Gear strategy, targeted at driving sustainable long-term growth, is developing well, including a step change in customer data, introduction of new services, product innovation and exciting collaborations. The acquisitions of Tredz and Wheelies are expected to add to capabilities in online sales of premium bikes and PACs. In light of Halfords' healthy progress in FY 2016 and bright prospects for FY 2017..." It's up on Research Tree
Beaufort's note from this morning... "CityFibre continues to progress well in the commercialisation of its asset base with the signing of a seventh contract in less than five months. The company has now signed agreements to bring 7 of the 21 acquired city markets into commercialisation, as stated at the time of acquisition. CityFibre's additional contracts signed to date cover 1,200 customer connections and £18.8m in initial contract value. The demand for wholesale fibre infrastructure can be gauged from the fact that the contract value added in these five months is around 81% of all new business taken on in 2015. We believe CityFibre has bright future prospects, well supported by impressive contracts and partnerships with UK's leading broadband service providers."
Beaufort's note from this morning, it's free to access in full from ResearchTree "With the proposed graphite acquisition Armadale is focused on diversifying its portfolio in the African resource sector. The company is looking to capitalise on the expected growth in the graphite market driven by increasing applications particularly in the energy storage market. We look forward to updates following completion of the transaction as well as further developments on the Mpokoto gold project. In the meantime, we..."