Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on FERRUM CRESCENT LTD. We currently have 8 research reports from 3 professional analysts.
|16Jan17 07:00||RNS||Update re Moonlight Project's BFS Phase I|
|09Jan17 07:00||RNS||Chairman Employment Contract & Manager Appointment|
|19Dec16 07:00||RNS||Issue & Admission Date for Shares|
|12Dec16 07:00||RNS||Placing to raise approximately £550,000 gross|
|30Nov16 07:00||RNS||Result of AGM|
|24Nov16 07:00||RNS||Exercise of Options and Issue of Equity|
|10Nov16 07:00||RNS||Toral Lead-Zinc Exploration Work Commenced|
Frequency of research reports
Research reports on
FERRUM CRESCENT LTD
FERRUM CRESCENT LTD
Small Cap Breakfast
12 Dec 16
ECSC—Schedule 1 from provider of cyber security services. Raising £5m. Vendor sale £0.9m. Target date 14 Dec. Expected market cap £15m, with issue price of 167p. RM Secured Direct Lending - The secured direct lending fund intends to float on the Main Market on 15 December raising up to £100m
Iron ore and more…
02 Dec 16
Following corporate restructuring in 2016, Ferrum Crescent’s new management is focusing on its two main projects, zinc in Spain and the Moonlight magnetite project in Limpopo. At Moonlight, under previous management Ferrum completed a PFS and obtained a 30-year mining right. The current plan is to produce a “reduced cost model”, which will primarily look to lower upfront capex and should improve project economics. This, along with continued engagement with potential South African based strategic partners, should help unlock Moonlight’s value. Management’s greatest impact thus far was its GoldQuest acquisition earlier this year. As a result, Ferrum now owns (100%) of the highly prospective Toral and Lago zinc deposits in Spain. Toral has been partially explored before and comes with 42,000m of deep diamond drilling and c.9Mt resources. Management believes a re-interpretation of the geological model and additional drilling could add significant shallow resources. Drilling is planned at Toral for H1 2017.
10 Nov 16
"Quite astonishingly, markets yesterday chose to give Mr Trump the benefit of the doubt. His acceptance speech, in which a rehearsed, conciliatory and more presidential tone was adopted, marked the turning point for European markets to reverse their opening panic into broad optimism as the US$ clawed back much of the losses taken during the Asian session. Markets warmed to a vision of a dramatically reflated US economy being the means by which the western world might find its way out of the 'lower for longer' scenario that otherwise has become etched deep into the minds of global central bankers. It's an awful lot to take on trust and many sceptics remain like the Wall Street Journal, for example, headlining 'Trump's Upset Will Sink In' but nevertheless, all Principal US indices staged gains of over 1% as an economic advisor to the president-elect surprised many by stating that Fed Chair, Janet Yellen's resignation is not being sought after all effectively putting market expectation of a December rate-hike back on again. Asia followed suit with Japan, yesterday's major casualty, recovering dramatically with the Nikkei ending up 6% while other regional markets put on between 1% and 3%, despite being reminded of Trump's threats to impose tariffs of up to 45% on Chinese imports while also exiting trade pacts like NAFTA. As soon as details of his proposed Cabinet and advisory team are released, markets should start to have a greater understanding of exactly how he proposes to keep his promises and, indeed, whether the Republican victory could even lead to a reversal of the US financial regulations that followed the 2008 crisis. One thing is for sure though, Trump is a great believer in debt. And so he needs to be. In attempting to power annual growth back to 4% or more, some $600bn of infrastructure spending has been suggested, with the ambition to create millions of new jobs, while his tax reforms have been estimated to cost the nation as much as US$4.4tr. Add it all up and some US$6.2tr will be added to US national debt, while the US credit rating could potentially find itself under treat. Exactly where such huge sums will be found is the big question, although some speculate that major US corporations with giant cash piles held offshore, like Microsoft, could be tempted to bring it back through some form of interim tax concession. With the ECB's Coeuré noting that Trump's victory reflects transformation in developed economies, for the time being hope will continue to win over despair. This leaves equities to extend Wednesday's gains today, with the FTSE-100 seen up around 40 points in opening trade as traders give up on some of the safe-haven positioning they took as a hedge against such an outcome. Today, the UK is expected release of figures from the Council pf Mortgage lenders along with earnings or trading updates from the likes of 3i Group (III.L), AstraZeneca (AZN.L), Bovis Homes (BVS.L), Dairy Crest (DCG.L), Gem Diamonds (GEMD.L), Halfords (HFD.L), National Grid (NG..L) and Ophir Energy (OPHR.L)." - Barry Gibb, Research Analyst
23 Sep 16
"The Financial Policy Committee appeared to fire a warning shot across Philip Hammond's bow yesterday. Stating in no uncertain terms that the UK faces a period of uncertainty and adjustment, while noting that households may struggle to service debts if the economy weakens due to a hard landing following Brexit negotiations, the Bank of England effectively told the Chancellor 'we have done our bit, now it's up to you'. Having seen the UK fare surprisingly well on the back of Mark Carney's immediate post-Referendum rate cut and major injection of fiscal stimulus, the baton clearly now has to be picked up on 23rd November as Hammond delivers his first Autumn Statement. And here, the BOE's obvious demand is for some relaxation of the stiff terms of austerity enforced by George Osborne along with additional access to cheap capital in order to power the Country's entrepreneurial society. Having reminded London that the problems of Brexit have not gone away, but have simply been deferred, the FTSE-100 is seen opening somewhat cautionary this morning, losing 10 or so points in early trade. The US markets by comparison extended their celebrations of Wednesday's Fed decision, with all principal equity indices putting in a reasonable performance and the NASDAQ again leading the way as it closed on a second consecutive record high. Asia, on the other hand, ended mixed with only the commodity-heavy ASX reflecting Wall Street's confidence while the Nikkei, re-opening after its Autumn Festival holiday, moved negative on concerns about the strengthening Yen. Macro data due from the UK today includes Hometrack's Cities House Price Index, while the Secretary of State for International Trade, Liam Fox, is due to attend a EU trade meeting in Slovakia. Release of Eurozone PMI figures is also anticipated. No major UK corporates are due to provide earnings today, although a couple of second-liners like Cogenpower (CGP.L), CVS Group (CVSG.L), Haydale Graphene (HAYD.L) and Pathfinder Minerals (PFP.L) are scheduled. Traders will also be keeping an ear open for any further messages from Boris Johnson regarding possible timing of the UK effecting Article 50, along with any media suggestions of breakthrough or otherwise by OPEC and Russia regarding their negotiated production cap." - Barry Gibb, Research Analyst
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
The Monthly January 2017
09 Jan 17
Despite all the hullaballoo of the Brexit vote and the subsequent election of Donald Trump as the next US President, the UK stock market prospered last year, especially in the latter few months of 2016. The combination of a depreciating currency – making $ earnings more valuable in relative terms - and the Trump emphasis on infrastructure expenditure drove the stock market higher
Small Cap Breakfast
17 Jan 17
Global Energy Development (GED.L) — To be renamed Nautilus Marine Services. Schedule 1 from developer and seller of hydrocarbons and related products. Reverse takeover. Raising $10.5m via a convertible. Expected 9 Feb. Eco (Atlantic) Oil & Gas—TSX-V listed oil and gas exploration has announced its intention to float on AIM. Assets in Guyana and Namibia. Proposed £2m-£3m fundraise. Diversified Gas & Oil—According to LSE website first day of trading on AIM now expected for 30 January.
Minor delay but lower cost and better visibility enhance the investment profile
13 Jan 17
First oil at Stella is delayed by about a month, reducing the contribution of Stella to FY17 production by the same period. While this has an impact on FY17e free cash flow, this is negligible to our valuation. More importantly, FY17 opex are estimated at only US$18/boe, below our estimates of US$20/boe. There are opportunities to reduce opex further. Harrier is expected to reach first oil in 2018, one year earlier than we expected and at a cost of US$40 mm lower than we anticipated. The overall development cost is less than US$6.0/boe. Ithaca holds numerous discoveries around Stella that would be developed with a similar cost structure to Harrier.
10 for 17
09 Jan 17
As always at the start of a year, there are significant uncertainties about the year ahead but I think in 2017, the level of uncertainly has decisively moved up a gear. In fact, a leading economist at the LSE, Ethan Ilzetzki, was recently quoted as saying “I view the current global economic environment as the most uncertain in modern history”. Wow.