Noventa Limited

Press: 19.08.11: -8.75, (27.75) Press: Noventa fell after announcing plans to raise GBP18.4m via an issue of new shares at 25p. Source - Financial Times

Press: 19.08.11: -8.75, (27.75) Press: Noventa fell after announcing plans to raise GBP18.4m via an issue of new shares at 25p. Source - Financial Times

Press: 04.07.11: -4.00, (38.25) Press: Noventa fell after a disappointing update from its operations in Mozambique. Traders said the deposits... read more

Press: 04.07.11: -4.00, (38.25) Press: Noventa fell after a disappointing update from its operations in Mozambique. Traders said the deposits to the north east and south of its existing Marropino mine deposits would not be economic to mine at grades reported on Monday. ?In our view the company needs to get back to basics and focus on getting the existing operation to 600k lbs per annum in the least dilutive fashion to equity holders,? said Canaccord Genuity. Source - Financial Times

Press: 28.06.11: -6.75, (39.00) Press: Noventa fell despite announcing the appointment of Fernando Fernandez-Torres, a qualified industrial... read more

Press: 28.06.11: -6.75, (39.00) Press: Noventa fell despite announcing the appointment of Fernando Fernandez-Torres, a qualified industrial engineer, with over 30 years experience, as its new chief executive. Canaccord Genuity was impressed by the hire.?Fernando has a reputation for turning around difficult mining operations, recently working for EMED Mining specifically focusing on its Rio Tinto Copper Mine in Spain, the broker said. ?The market for tantalum remains strong and we do not believe the current share price recognises the value inherent in these assets, even after accounting for the necessary additional capital requirement of $25m." Source - Financial Times

Press: 02.06.11: -105.38, (66.00) Press: Noventa fell after warning of delays and rising costs at its Marropino tantalum mine in Northern... read more

Press: 02.06.11: -105.38, (66.00) Press: Noventa fell after warning of delays and rising costs at its Marropino tantalum mine in Northern Mozambique. ?It has become increasingly apparent that the capital expenditure required to bring the new plant, with a capacity of 600,000 lbs per annum, into full operation will be significantly higher than originally anticipated,? the company warned in a statement that surprised investors. Collins Stewart said the fact Noventa had been unable to negotiate a suitable contract with an engineering company to build and manage the project was a worrying development that brought into question management?s ability. ?It sounds like the project has stalled while the company has haemorrhaged cash. We don?t expect to see a happy ending to this story, mostly likely a deeply discounted rights issue or expensive debt, as management now needs to demonstrate that its costs estimate are right this time round,? the broker said. Source - Financial Times