Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on PAPUA MINING PLC. We currently have 1 research reports from 1 professional analysts.
|29Nov16 07:00||RNS||Issue of Equity|
|03Nov16 03:18||RNS||Board Changes|
|07Oct16 01:27||RNS||Result of General Meeting and Offer|
|30Sep16 07:00||RNS||Interim Results|
|14Sep16 07:00||RNS||Posting of Circular and Notice of General Meeting|
|02Sep16 07:00||RNS||Subscription to raise £400,000|
|30Jun16 07:00||RNS||Final Results|
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Research reports on
PAPUA MINING PLC
PAPUA MINING PLC
Mining Review - Gold Hits Five Year Low – The Never Ending Story
23 Jul 15
Our last quarterly review referred to a sense of frustration between investors and corporates. This is a theme that has continued with some corporates openly expressing dissatisfaction at poor investment sentiment towards the sector. It is typically companies that have seen their share prices crushed, which have taken to using this sort of vernacular. Over the first six months £233.5m was raised on AIM for mining companies (over half in June) down from £335.8m in the equivalent 2014 period. In the year to date however, there has been just under £10m raised for new arrivals of mining stocks on AIM. Over the whole of 2014 this figure came to only £4.75m, just under £6m in 2013, £41.9m in 2012, £46m in 2011, and £141m in 2010 showing a long term drought in mining IPO activity which has all but dried up over the last 3 years. So whilst the secondary market is also suffering, in comparison the IPO market it is in rude health.
08 Dec 16
Elderstreet stake acquired 02 GENERAL NEWS Globalworth premium In this issue Venture capital firm Draper Esprit has taken a 30.8% stake in venture capital trust manager Elderstreet. Both investment managers focus on the technology sector and they will be able to co-invest. Elderstreet has investments in a number of AIM-quoted companies through its VCTs. The purchase was funded by an issue of Draper Esprit shares worth just over £250,000. Simon Cook, the chief executive of Draper Esprit, is a former partner at Elderstreet so he knows the business and the people who run it, although he did leave more than 14 years ago. Cook has previously acquired portfolios from 3i and Cazenove, two other firms where he has worked. Draper Esprit has an option to acquire the remaining shares in Elderstreet, which has more than £25m under management. Adding Elderstreet to the group enables Draper Esprit to offer investors a range of EIS funds, VCTs and an ISA qualifying listed evergreen patient capital fund. The enlarged group has venture capital assets under management of more than £350m. At the end of September 2016, Draper Esprit had a net asset value of 352p a share, which is similar to the current share price. The June 2016 flotation price was 300p a share. Draper Esprit is quoted on Ireland’s Enterprise Securities Market as well as AIM.
01 Nov 16
Since our last outlook note, Quadrise has begun to supply MSAR for extended LONO sea trials, paving the way for commercial adoption from calendar H217 onwards. In August it signed a memorandum of understanding with clients in the Kingdom of Saudi Arabia (KSA), which is a key enabler for progressing the production-to-combustion pilot there. In October it completed a placing and open offer raising a total of £5.25m (gross). This should enable it to transition comfortably to the commercial phase on successful completion of the LONO and KSA trials.
Dividends reinstated; is it time to turn (more) optimistic?
08 Dec 16
Glencore continues to surprise the markets, earlier with its fast pace of asset disposals and now with the reinstatement of dividends. The following were the key details shared with investors in a meeting held on 1 December 2016: 1/ completed $6.3bn of asset disposals; 2/ reduced net debt (including readily marketable inventories) by $12.5bn over the last 18 months; 3/ reiterated trading’s 2016 EBIT guidance towards the upper end of the $2.5-2.7bn range; 4/ expects healthy annualised 2016 free cash flows – even at Q1 16 commodity price lows; at 2017 forward prices, FCFs are guided to be $6.5bn; 5/ dividends would be reinstated from 2017 – with $1bn to be paid in two equal tranches in H1 and H2; thereafter (i.e. 2018 onwards), $1bn would be a fixed annual dividend payment (banking on the stability of trading’s cash flows) plus a minimum 25% of FCFs from industrial activities. Production guided to grow Source – Investor Presentation December 2016 While copper would be negatively impacted by the end-of-life impact at Alumbera and the Ernest Henry divestment, the output for all other commodities is guided to be higher (in varying degrees).
Conviction List Q4 2016
05 Oct 16
Since its inception in 2010, the Conviction List has outperformed the market in 13 of 18 periods and a reinvested Conviction List would have returned 255% against a Small Companies index that would have returned 130%. Our Conviction List returned 3.7% over the last quarter; this was set against the benchmark UK Small Companies index that returned 11.3% over the same period. Our Q4 portfolio reflects our outlook for a temporary sweet spot for UK growth during the second half of 2016. The downside risk from the uncertainty of the EU Referendum result has been countered by stimulus from the Bank of England, signs of a looser fiscal stance and an 18% YoY reduction in the Sterling Exchange Rate. Compressed corporate fixed income spreads continue to provide a valuation underpin for global equities.