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Companies: ANTO RIO FXPO AAL TRR GLEN BHP
Liberum
Companies: AAL GLEN BHP TGA
Companies: ANTO RIO FXPO AAL GLEN BHP
Companies: LGO ALBA KP2 GEM IMC GLEN LZM
SP Angel
Companies: ASM RIO GLEN CEY CUSN
Companies: FAU IXR MMA ZNWD POW GLEN LUC PRU
Amaroq Minerals (AMRQ LN) – £30m equity raise to accelerate development at Nalunaq and expand exploration Bluejay Mining* (JAY LN) – Bluejay appoint new senior geologist as management cut £1.3mpa of payroll costs Glencore (GLEN LN) – Koniambo nickel to go on care and maintenance Tertiary Minerals* (TYM LN) – Additional funding for exploration in Zambia & Nevada
Companies: TYM JAY GLEN AMRQ
Arkle Resources* (ARK LN) – Drilling results from Inishowen, Donegal Bushveld Minerals* (BMN LN) – Orion convertible loan refinancing completed Ferr-Alloy Resources (FAR LN) – Revised Balasausqandiq Vanadium Project FS timing Galileo Resources (GLR LN) – Additional targets identified in the Kalahari Copperbelt, Botswana Gem Diamonds (GEMD LN) – Production volumes hold up at Letšeng while average prices come under pressure Glencore (GLEN LN) – Stronger H2 production volumes across most commo
Companies: GLR POW BMN FAR ARK GLEN SVML GEMD
Companies: Glencore plc (GLEN:LON)Thungela Resources Limited (TGA:LON)
Companies: ALL CXB ATYM HZM GGP KOD GWMO GLEN CMCL
Finally, Glencore has managed to acquire Teck Resources’ met coal assets. This means that half of its initial Teck ambition has been accomplished. While there are some questions with respect to the way forward and its associated timelines, the markets seem to be on board with the firm’s plans. Overall, our positive stock recommendation is reiterated, underpinned by the intact long-term re-rating prospects for a potentially strong non-fossil/metals asset portfolio.
Companies: Glencore plc
AlphaValue
According to the WSJ, Glencore is close to acquiring Teck Resources’ met coal assets. While there has been no official confirmation as yet, this could be a good move if it also culminates in the acquisition of Teck’s non-fossil assets. This is possibly a reflection of Teck’s limited options at present and Glencore finally gaining the upper hand. Overall, Glencore’s attractiveness as our preferred diversified miner is reiterated.
Companies: TIE ARS OMI AYM BMN GLEN CUSN GMET ARCM
Research Tree provides access to ongoing research coverage, media content and regulatory news on Glencore plc. We currently have 7 research reports from 9 professional analysts.
Supreme’s FY24 trading update confirms a record performance in the 12 months to 31 March 2024. Organic revenue and profit growth across all four divisions has driven Group revenue +45% YOY to £225m, with FY24 adj. EBITDA almost doubling to ‘at least £38m’, driving record levels of cash generation. Supreme is actively exploring complementary M&A, supported by a debt free balance sheet. Trading on an undemanding FY25 PE of just 6.7x, with a 3.4% yield, we believe downside risks are more than price
Companies: Supreme PLC
Zeus Capital
Companies: FOG PHC FEN BBSN ELIX
Cavendish
Shore Capital
Companies: MPE TRI VNET BVXP HVO
Companies: James Latham Plc
Headlam Group has laid out an ambitious long-term revenue target of between £900m and £1bn, as it seeks to grow its share of the UK floor coverings distributor market. Despite a challenging backdrop due to the low level of residential housing transactions, management is seeking to expand each of its sales channels: Trade Counters, Larger Customers, Regional Distribution and Europe & Other. The FY23 results reflected the more challenging environment and the group trades at a discount to its long-
Companies: Headlam Group plc
Edison
The focus of Hardman & Co Research is on the nine quoted Infrastructure Investment Companies (IICs) and on the 22 Renewable Energy Infrastructure Funds (REIFs): the stocks analysed are all members of the Association of Investment Companies (AIC). We are updating our publication of January 2023, assessing both the lacklustre share price performances during 2023 and the key issues, including interest rates, inflation and power prices. As a 31-strong group, its combined market capitalisation is no
Companies: AEIT ROOF DGI9 INPP GSF SEIT USFP HICL ORIT BSIF TRIG NESF SEQI HEIT GRP GCP FSFL 3IN AERI PINT RNEW BBGI GSEO DORE TENT GRID CORD HGEN AEET
Hardman & Co
Vianet’s FY24 trading update shows FY24 revenue +1% ahead of our previous forecast, adjusted EBITA +2% ahead, EFCF and net debt +£0.6m ahead, and a strategic new customer win with prominent forecourt operator Wilcomatic. A robust FY25 pipeline and outlook leads us to reiterate our FY25E forecasts at this point, with the update highlighting: strong progress renewing and winning new customers on 3-5 year contracts as they migrate from 3G to Vianet’s advanced 4G LTE solutions; the successful integr
Companies: Vianet Group plc
Vianet has published a positive trading update for FY24 with turnover up 7.6% to £15.18m, a 3.5 percentage point increase in gross margin YoY, and adjusted EBITA ahead of market expectations. Net debt continues to fall and closed FY24 at £1.52m (£2.1m at 30 September 2023), demonstrating strong free cash flow generation, even without the benefit of the £0.9m tax receipt received in 1H24, which augers well for a final dividend. The company reported a new contract with Wilcomatic Wash Systems, the
Capital Access Group
Companies: CLA STM GLN FXPO KAV GWMO CEY BHP THX EEE
Companies: Ilika plc
24th April 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced Dish of the day Admissions: Delistings: What’s baking in the oven? ** Potential**** Initial Public Offerings: Reverse Takeovers: 16 April 2024: Electric Guitar (ELEG.L) Concurrent with its Admission to trading on AIM, Electric Guitar is proposing to acquire the entire issued share capital of 3radi
Companies: FTC AGL SRT SOU G4M AOM SUP
Hybridan
Companies: Gattaca plc
Companies: Severfield Plc
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