"Yesterday’s announcement reveals the multiple work streams that are simultaneously underway during the process of completing the Integrated Bankable Feasibility Study (IBFS) for the Mbeya Coal to Power project. We look forward to completion of the Definitive Mining Feasibility Study and note that all technical work required for the IBFS is drawing to a close." Beaufort Note out this morning on research tree
Beaufort note out this morning on research tree.. "This is clearly very good news for Eurasia Mining shareholders. As Eurasia’s CEO Mr Schaffalitzky commented, it’s impressive how quickly SKRS has mobilized equipment 600km and started mining. It suggests SKRS are a competent and motivated operator. We expect further newsflow describing progress at the alluvial platinum operation (West Kytlim) culminating in first production and sales during 2H16.
"The update highlights the plan formulated by BHP Billiton for its coal business to enhance returns by reducing costs, increasing productivity and releasing latent capacity. The company has been working to build a strong portfolio to endure the negative impact of challenging market conditions. We appreciate BHP Billiton’s efforts to improve its coal business. Nonetheless, the outlook for the coal sector remains bleak, with a slowdown in some developing and emerging economies supressing demand." Beaufort's view out this morning on research tree
"Aureus receiving funds from tranche 1 of the financing agreement with MNG Gold is a positive development. This would strengthen Aureus’ balance sheet and help meet working capital requirements for the New Liberty Gold Mine in Liberia. In addition, the funds would be used to lower outstanding balances payable to creditors. Aureus delivered a strong performance in Q1 2016, recording robust revenue and production. Mining activities continued, with preparations for the forthcoming wet season well underway and an additional mining fleet (comprising five Komatsu HD785 haul trucks and a PC1250 excavator) being deployed in May 2016. The company is capitalising on the process plant’s production stoppage to complete the scheduled plant maintenance and boost ore stockpile. The firm expects this to help it to recover from the anticipated production loss later in the year. Aureus has progressed well in all aspects related to the project; given the significant potential of this project, we are optimistic about favourable production results from the company in the near future." Beaufort note out this morning on Research Tree
...results revealed 15% growth in PBT in line with our forecasts, and 20% growth in the ordinary dividend (forecast: 10%) confirmed for the next two years. A higher investment programme in its technology development and estate has resulted in a lower special dividend than forecast. finnCap note out this morning on research tree
Panmure note out today: "We think that Sanderson is well placed – given it has a product set which delivers a strong ROI (revenue opportunities and cost savings) so it is more robust than investors think, and of course 53% of revenue is recurring in nature. An ‘In’ vote should see a substantial share recovery as investors stop fretting about a potential UK downturn in retail and general business. We remind that recent trading news (Interim Results, 8 June) featured; (i) operating profit back to the level at which Sanderson sold its EPOS business in 2012A, and (ii) strong cash conversion which fuelled an 11% DPS hike." scraped from research tree
Panmure note out this morning: "FY16 pre close update from NWF shows a solid performance, with earnings in-line with board expectations (PG EBIT £8.7m). We believe this is an impressive performance given the headwinds facing each of the three divisions. Moreover, despite spending £9.5m on acquisitions (FY16E), net debt ended the year “significantly lower than anticipatedâ€. This highlights the cash generative nature of the group: post maintenance FCF has averaged £6.7m (FY12-FY16E) and provides the firepower for the group’s bolt-on acquisition strategy." scraped from research tree
"Economies are not driven by the majority, but a minority that play by different rules. Given the global newsprint devoted to the UK referendum, it would appear that the key issue facing automakers today is whether to build cars in the UK or Poland. It is not. The elephant in the room is the advance towards the autonomous (driverless) car, which is allowing new entrants (Apple, Google, etc.) to come and play in their backyard. As a solution provider for testing next-generation cars, AB Dynamics (ABD) is well placed to grow at 20% p.a. as competition for driverless cars intensifies. The 17% fall in share price since 10 May 2016 has created a great opportunity to invest in this specialist UK driverless car play." Panmure view out today on research tree
"Further deterioration in Flexonics markets is disappointing, having already downgraded significantly earlier in the year. Aerospace remains the key attraction within the Group; with increasing content on the major new commercial aircraft programmes, Senior is well placed to benefit over the next 5 to 10 years; however, ongoing Flexonics problems are overshadowing the positives elsewhere. We expect the share price to be weak today and sentiment needs to be rebuilt with a period of forecast stability." Singer note out this morning on Research Tree