Pembridge Resources PLC jumps by a third after positive Minto mine report
() Shares soared after a positive update on the Minto mine in Yukon, Canada.
A JDS Engineering report on the copper, gold and silver mine – where Pembridge has an investment in the operator – indicated that its expected life had doubled to 8 years.
Total resources have increased from 22.5 million tonnes to 24.1 million tonnes, with an average annual production of 38 million pounds of copper. Average annual revenues are expected to exceed US $ 40 million from 2021 to 2025.
The report puts the after-tax net present value of the mine at US $ 84 million, based on long-term copper price assumptions of US $ 3.10 per pound.
General Manager Gati Al-Jebouri said: “The technical report prepared by JDS confirms our expectations for the life of the Minto mine as well as the potential for further development. Minto’s intrinsic value is now clearly identified and the Minto team is very excited to realize and increase this value for all Minto stakeholders. “
Pembridge shares are up 35.86% or 2.51p to 9.51p.
2:20 p.m .: Engines from upcoming car dealers
PLC (), the car dealership whose brands include Bristol Street Motors, has seen profits accelerate despite the imposition of the lockdown.
He said profits for the full year were £ 22.4million, up from £ 7.3million the year before, despite a drop in revenue of £ 3.06bn to £ 2.5 billion.
And he now expects to earn between £ 24-28million for the current year.
It benefited from the good performance of its Click2Drive online sales platform and despite the closure of its showrooms in the first quarter of the year, it still managed to deliver 38,446 vehicles.
Chief Executive Officer Robert Forrester said: “These results, which exceed expectations, are exceptional in the circumstances interrupted by COVID-19 …
“We have started the new fiscal year very vigorously, generated record levels of cash flow and have a very strong balance sheet. We … are extremely well positioned to take advantage of the changes and opportunities that lie ahead.”
Shares of the company climbed 3.56% or 1.6p to 46.6p.
11:49 am: A luxury design group strengthens its Asian presence
Interior design has been in the spotlight recently thanks to Boris Johnson’s antics, but that’s not why Sanderson Design Group PLC (LON: SDG) is in demand right now.
The luxury interior design and furniture group has just signed a licensing agreement for its Morris & Co brand in Asia with the Japanese Sangetsu Corporation.
The two companies have been working together for several years already, but the new agreement means Sangetsu will become the exclusive owner of Morris & Co wallpapers in 14 countries in Asia and will also hold non-exclusive rights in China and Hong Kong.
Sangetsu CEO Steve Yasuda said, “Morris & Co has been a long-loved brand in Japan and we are very excited to create and launch new Morris & Co products for Japan, Asia’s markets. ‘East and Southeast through this strategic alliance with Sanderson. Design Group. “
The deal lifted Sandeson’s shares 10p or 7.38% to 145.5p.
10:37 am: The van rental group accelerates
White Van Man strikes again.
() saw its shares pick up a gear after saying earnings would be better than expected.
The commercial van rental specialist said the group’s total revenue, including vehicle sales, rose 51% in the second half, helped by the inclusion of figures from fleet management group Redde in the following its merger with Northgate in February 2020.
The total number of vehicles for hire increased by 2% across the group, with good performances in the UK and Ireland, but with Spain broadly stable.
With better-than-expected performance, the company now expects full-year profits to be “moderately” above the city’s forecast of between £ 83.3 million and £ 88million, and in any case no less than 92 million pounds.
Managing Director Martin Ward said: “Our integration plans have almost met our revised cost reduction targets well in advance, and well below the one-time cash costs to be implemented. ..
“We enter [the 2022 financial year] in a position of strength, and we look forward to keeping abreast of progress as we continue to implement our strategy.
Its shares are 4.73% or 17.28p better at 382.28p.
9:35 am: Construction group sees strong demand
Stone and concrete specialist PLC () posted a good increase, reporting strong trading for the first part of the year.
In the four months leading up to April, revenue rose 46% to £ 191million compared to the same period last year, which was of course disrupted by Britain’s first lockdown. Compared to 2019, the growth is 6%.
There was good demand in the domestic market, improved trade in the public sector and the commercial market, and increased growth internationally.
With the positive trend continuing and strong order books, the company said the full year performance was likely to be above its previous expectations.
Shares of the company climbed 5.67% or 40.97p to 763.47p.
8:25 am: a virtual reality group lifted by the Chinese agreements
() is in demand after strengthening its presence in China.
The virtual reality technology company has announced agreements with its partner and 20% shareholder HTC Corporation, the Taiwanese consumer electronics giant, which are expected to increase the deployment of its Engage software platform.
HTC has said that Engage, sold as Vive Sessions in China, will be included in the software package for its new headset. He also unveiled an agreement with HP to deploy Vive Sessions on new HP ProBook laptops sold in China.
Fittingly, the HTC announcements were made through two live virtual events held on the Engage platform.
Earlier this month, VR Education announced that Engage reached 100 business customers after launching in May 2019.
Its Managing Director, David Whelan, said, “We believe these announcements represent a major milestone in our deployment in China. China is the world’s fastest growing immersive market. We look forward to the many exciting opportunities at the horizon. “
Shares of the company climbed 9.03% or 1.4p to 16.9p.
The higher position is also () after an update on its litigation against Samsung for the alleged willful infringement of its intellectual property.
Its shares are up 14.46% or 3.71p to 29.36p after a hearing to interpret sentences relevant to the affected patents. In four of the five patents in the case, Nanoco’s constructions were confirmed and in the fifth patent, Nanoco and Samsung each have a confirmed construction.
The trial date for a jury hearing has been set for October 2021, although this may still be delayed.
Managing Director Brian Tenner said: “Although this is just one more step in a long process, it is positive with regards to the credibility of Nanoco’s patents and therefore maintains our confidence in our case according to which Samsung willfully infringed on our intellectual property prior to trial in October. “
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() highlighted the main results of a new preliminary economic assessment technical report for the Minto mine.
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