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126480  Genel Energy PLC 2016-05-27 09:05:00  2016-05-27 09:08:54  2016-05-27 09:08:54  Genel confirms oil payments from Kurdistan for Tawke field  Genel confirms oil payments from Kurdistan for Tawke field      genel-confirms-oil-payments-from-kurdistan-for-tawke-field-126480.html    <p> <a href="-##!##-/LON:GENL/Genel-Energy-PLC/" class="companyPopupTrigger" rel="3862">Genel Energy PLC</a> (<a href="-##!##-/LON:GENL/Genel-Energy-PLC/" class="companyPopupTrigger" rel="3862">LON:GENL</a>) has confirmed the receipt of a US$16mln from the Kurdistan Regional Government to the partners in the Tawke field.</p> <p> The payment relates to oil sales in April, and also includes some arrears for past crude deliveries.</p> <p> It is part settlement of US$32.3mln that was invoiced for April, Genel said. The invoiced amount comprised US$27.1mln towards the contractor’s monthly entitlement and US$5.2mln recovery of historical receivables it added.</p> <p> During the month of April Genel’s 25% owned Tawke field produced 118,918 barrels of oil per day, of which some 117,815 bopd was earmarked for export. In the preceding month the field operated at 74,546 bopd.</p> <p> The payment from the KRG is to be shared pro-rata between the Tawke partners Genel and DNO.</p> <p> On Thursday, Genel also announced an US$11mln payment from the KRG for April oil sales from its 44% interest in the Taq Taq field.</p> <p> Some US$22.45mln was invoiced for Taq Taq, comprising US$18.76mln as contractor entitlement and US$3.69mln for recovery of historical receivables.</p> <p> Genel said it expects the balance of the April 2016 invoice is expected to be paid shortly. Its share of the cash paid so far amounted to US$6.05mln.</p>   Genel Energy has confirmed the receipt of a US$16mln from the Kurdistan Regional Government to the partners in the Tawke field. The payment relates to oil sales in April, and also includes some arrears for past crude deliveries.On Thursday, Genel also announced an US$11mln payment from the KRG for April oil sales from its 44% interest in the Taq Taq field.  NEWS      View Edit Delete
126479  Secure Trust Bank 2016-05-27 09:01:00  2016-05-27 09:08:44  2016-05-27 09:05:54  Arbuthnot loosens grip on Secure Trust with £145mln sale  Arbuthnot loosens grip on Secure Trust with £145mln sale  bank, shares, sale, subsidiary, disposal,     arbuthnot-loosens-grip-on-secure-trust-with-145mln-sale-126479.html    <p style="text-align: justify;"> <a class="companyPopupTrigger" href="-##!##-/LON:ARBB/Arbuthnot-Banking-Group/" rel="70">Arbuthnot Banking Group</a> PLC (<a class="companyPopupTrigger" href="-##!##-/LON:ARBB/Arbuthnot-Banking-Group/" rel="70">LON:ARBB</a>) is to sell the majority of its stake in subsidiary Secure Trust (<a class="companyPopupTrigger" href="-##!##-/LON:STB/Secure-Trust-Bank/" rel="4030">LON:STB</a>) for £145mln.</p> <p> The corporate finance house will sell a 31.9% stake in the private bank to institutional investors at £25 per share reducing its holding to 20% from 51.9%.</p> <p> Secure Trust will move to a premium listing on the main London stock market once the deal completes.</p> <p> Sir Henry Angest, the majority owner, chairman and chief executive of Arbuthnot, will also stand down as Secure Trust’s chairman on completion.</p> <p> “The growth of Secure Trust in the last four and half years has been substantial, and the Company believes that now is the appropriate time to reduce its holding in Secure Trust to a non-controlling position, in order to broaden the range of strategic options available to Secure Trust,” Arbuthnot said.</p> <p> Shares in Secure Trust fell 8% to £25.75, while Arbuthnot rose 8% to £16.11.</p>   “The growth of Secure Trust in the last four and half years has been substantial, and the Company believes that now is the appropriate time to reduce its holding in Secure Trust to a non-controlling position, in order to broaden the range of strategic options available to Secure Trust,” Arbuthnot said.  NEWS      View Edit Delete
126477  W Resources PLC 2016-05-27 08:34:00  2016-05-27 16:36:48  2016-05-27 08:40:23  W Resources sees good progress at Spanish tungsten mine  W Resources sees good progress at Spanish tungsten mine  tungsten, Spain, Portugal, production, mine, plan permit,     w-resources-sees-good-progress-at-spanish-tungsten-mine-126477.html    <p style="text-align: justify;"> <a class="companyPopupTrigger" href="-##!##-/LON:WRES/W-Resources-PLC/" rel="176">W Resources PLC</a> (<a class="companyPopupTrigger" href="-##!##-/LON:WRES/W-Resources-PLC/" rel="176">LON:WRES</a>) remains on course to get its La Parrilla tungsten mine in Spain up and running this year, its chairman said today.</p> <p> The Aim-listed junior is developing the mine in two stages, with the fast track (FTM) first stage granted approval last November.</p> <p> Michael Masterman, chairman, said work on the La Parrilla mine plan was progressing well.</p> <p> “We anticipate to finalise this in mid-2016, and, in parallel, we are continuing our discussions with regard to financing the mine at asset level and are encouraged by the response to date.</p> <p> &nbsp;“These factors, combined with the Full Mine approval, see the FTM construction on-track ahead of the ramp-up to full production in 2017.”</p> <p> La Parrilla is one of the largest tungsten deposits in the Western World with a resource of 51mln tonnes at 0.096% WO<sub>3</sub>&nbsp;(tungsten trioxide).</p> <p> Initial production at the FTM will be 1,300 tpa of 66% WO<sub>3</sub>&nbsp;concentrate and 110 tonnes of 52% Sn (tin) concentrate, at an estimated cost of US$16 million.</p> <p> First production is scheduled for late 2016 with phase two seeing a scale up in the FTM operation in 2017/2018 to 2,600 tpa at an incremental cost of US$6mln.</p> <p> In Phase three, at an estimated cost of US$30mln, the final Full Mine will incorporate ore sorters and expand the capacity to 5,000 tpa at operating costs of US$121/mtu.</p> <p> The tungsten price currently is around US$220/mtu.</p> <p> Elsewhere, at Regua in Portugal, another tungsten project, mine plan work is also is underway for a shallow open pit moving underground over a longer time frame.</p> <p> Mine development planning is now advanced and on-track for completion during mid-2016, said Masterman.</p> <p> In the year to end December, W Resources made a loss of £606,000 (£641,000).</p>   Michael Masterman, chairman, said work on the La Parrilla mine plan was progressing well. “We anticipate to finalise this in mid-2016, and, in parallel, we are continuing our discussions with regard to financing the mine at asset level and are encouraged by the response to date."  ARTICLE          View Edit Delete
126478  Directa Plus 2016-05-27 08:27:00  2016-05-27 08:49:13  2016-05-27 08:48:21  Directa Plus starts trading on AIM  Directa Plus starts trading on AIM      directa-plus-starts-trading-on-aim-126478.html    <p> <a class="companyPopupTrigger" href="-##!##-/PRIVATE:DIRA/Directa-Plus/" rel="14573">Directa Plus</a> Plc is expected to raise £12.8mln as it starts trading on AIM today.</p> <p> The graphene producer priced its initial public offering at 75p per share with 44.2mln shares in issue, giving it a market capitalisation of £33.2mln.</p> <p> Italian alternative investment firm Quadrivio Capital will remain the company's largest shareholder with a 13% holding, down from 24% prior to the IPO.</p> <p> The net proceeds will be used to support the development of its high quality engineered graphene materials, as well as increase its manufacturing capability and production volume.</p> <p> It will also be used to pay off some of the group’s loans and to boost its profile.</p> <p> Established in 2005, <a href="-##!##-/PRIVATE:DIRA/Directa-Plus/" class="companyPopupTrigger" rel="14573">Directa Plus</a> is headquartered in the Como Science and Technology <a class="companyPopupTrigger" href="-##!##-/NYSE:PKE/Park/" rel="7421">Park</a> in Lomazzo, Italy. Its graphene-based products are manufactured using its patented, high temperature ‘Plasma Super Expansion’ technology.</p> <p> Its purpose built production facility in Lomazzo is capable of producing up to 30 tonnes of graphene a year.</p> <p> The company's graphene products have been used in ski suits worn by the French national ski team.</p> <p> Directa Plus is chaired by former secretary to the Treasury and chairman of <a class="companyPopupTrigger" href="-##!##-/LON:BARC/Barclays/" rel="2989">Barclays</a>, Peter Middleton.</p>   Directa Plus Plc is expected to raise £12.8mln as it starts trading on AIM today. The graphene producer priced its initial public offering at 75p per share with 44.2mln shares in issue, giving it a market capitalisation of £33.2mln.Directa Plus is chaired by former secretary to the Treasury and chairman of Barclays, Peter Middleton.  NEWS        View Edit Delete
126476  Edenville Energy 2016-05-27 08:21:00  2016-05-27 08:24:24  2016-05-27 08:24:24  Edenville Energy shares surge on Rukwa progress news  Edenville Energy shares surge on Rukwa progress news      edenville-energy-shares-surge-on-rukwa-progress-news-126476.html    <div> <p> Shares in <a href="-##!##-/LON:EDL/Edenville-Energy/" class="companyPopupTrigger" rel="3734">Edenville Energy</a> PLC (<a href="-##!##-/LON:EDL/Edenville-Energy/" class="companyPopupTrigger" rel="3734">LON:EDL</a>) sparked over 36% higher in London as it revealed big progress had been made on the development of its Rukwa coal to power project in Tanzania.</p> <p> Among the milestones passed is that a project concept note (PCN) which started in July 2015 as part of a formal review process, has been reviewed and accepted by the State-run Tanzania Electric Supply Company Ltd ( Tanesco).</p> <p> The group also revealed it was also in discussions with power plant developers that could finance the project up to construction.</p> <p> Rufus Short, the chief executive and chairman of&nbsp; Edenville, told investors: "The project has now reached the critical point where the technical, financial and commercial requirements can be completed, in line with the timeframes and conditions set out by the Tanzanian authorities, as we also seek to secure the project finance.</p> <p> "The completion of both the EIA and Mining Licence for the mine allows the power plant section of the project to proceed at a faster rate as a large proportion of the obligations concerning the fuel source have been completed."</p> <p> The plan at Rukwa is to build a combined coal-to-power operation at an initial cost of US$175 mln.</p> <p> The power plant would have an initial capacity of 120MW in the first phase of construction.</p> <p> According to a feasibility study in 2015, there is enough coal in the ground at Mkomolo to support at least 30 years of power generation.</p> <p> On a strategic level, the thinking is that the Rukwa operations could tie in with a national expansion of the grid.</p> <p> Shares shot up 36.36% to 0.0375p.</p> </div> <p> &nbsp;</p>   Shares in Edenville Energy PLC (LON:EDL) sparked over 36% higher in London as it revealed big progress had been made on the development of its Rukwa coal to power project in Tanzania. Among the milestones passed is that a project concept note (PCN) which started in July 2015 as part of a formal review process..   NEWS        View Edit Delete
126475  Sirius Minerals PLC 2016-05-27 08:03:00  2016-05-27 08:36:13  2016-05-27 08:21:48  Sirius Minerals: Broker hails future ‘fertiliser juggernaut’   Broker hails Sirius Minerals a future ‘fertiliser juggernaut’      broker-hails-sirius-minerals-a-future-fertiliser-juggernaut-126475.html    <p> Broker Shore Capital described <a class="companyPopupTrigger" href="-##!##-/LON:SXX/Sirius-Minerals-PLC/" rel="914">Sirius Minerals PLC</a> (<a class="companyPopupTrigger" href="-##!##-/LON:SXX/Sirius-Minerals-PLC/" rel="914">LON:SXX</a>) as a future ‘fertiliser juggernaut’ at the top of a 64-page tome, in which it predicts some 150% up side to the AIM share’s price.</p> <p> Laying out the reasoning for its ‘buy’ recommendation the broker said the North Yorkshire polyhalite mine development will be a ‘paradigm-shifting’ project.</p> <p> The investment report follows the release of a definitive feasibility study for the project, and comes as Sirius is working to land project finance so that construction can start later this year.</p> <p> “The DFS results were essentially in line with our expectations, projecting a high-volume (20Mtpa), low-opex (c.US$27/t), long-life (50 years, but we believe there to be potential for &gt;100 years) operation with prodigious cash generation, high margins and attractive returns,” said ShoreCap analyst Yuen Low.</p> <p> “Key planning permits were received unchallenged in 2015, so the focus now is on raising the requisite construction funds with which to germinate this embryonic fertiliser giant – and given its myriad strengths, we do not expect this to prove overly problematic.”</p> <p> According to Low, Sirius shares will see a significant re-rating once the first phase of project finance is secured – he notes that a US$1.6bn package is anticipated as a mix of debt and equity, while phase 2 would be more traditional project financing.</p> <p> “If all goes to plan, there should be no further need to raise equity after Stage 1,” he said.</p> <p> “Dilution would no longer be an issue, and we believe the resulting improved clarity on potential equity returns could trigger a significant re-rating.”</p> <p> Low added: “While an investment in Sirius will become progressively de-risked as the company advances towards production, we believe that it already offers a more robust, lower-risk investment with the prospect of better returns than typical of its peers.”</p>   Broker Shore Capital described Sirius Minerals as a future ‘fertiliser juggernaut’ at the top of a 64-page tome, in which it predicts some 150% up side to the AIM share’s price. Laying out the reasoning for its ‘buy’ recommendation the broker said the North Yorkshire polyhalite mine development would be a ‘paradigm-shifting’ project.  ARTICLE        View Edit Delete
126473  Atlantis Resources Ltd 2016-05-27 07:50:00  2016-05-27 07:59:06  2016-05-27 07:55:10  Atlantis swings to profit in 2015; MeyGen on track  Atlantis swings to profit in 2015; MeyGen on track      atlantis-swings-to-profit-in-2015-meygen-on-track-126473.html    <p> Tidal power firm Atlantis Resources Limited (<a class="companyPopupTrigger" href="-##!##-/LON:ARL/Atlantis-Resources-Ltd/" rel="8262">LON:ARL</a>) said it made great strides in 2015, which culminated in a maiden profit, as it continues to advance its flagship MeyGen site in Scotland - the largest project of its type in the world.</p> <p> Construction there began in January 2015 and it is on track to deliver first power to Scottish homes this year.</p> <p> The pre-tax profit for 2015 was S$4.2mln (Singapore dollars) compared to a loss of $$16.2mln in 2014.</p> <p> This was largely due to the purchase from Siemens in July of MCT (Marine Current Turbines), which boosted its UK portfolio development sites by around 50%, and the sale of Atlantis's 50% stake in Atlantis Operations Canada Limited (AOC).</p> <p> Revenue for the year to end December was around S$2.9 million, compared to S$5.3 million in the previous year, largely down to consulting services provided by the group.</p> <p> The group's net assets increased to S$120.8mln over the course of the year from S$98.0 million, and post period, last month, it raised £6.5mln to fund development.</p> <p> At Meygen, 85% owned by the group, the team is preparing for onshore testing of a 1.5MW AR1500 turbine. This is one four turbines to be installed at the MeyGen site in the first phase of project roll-out.</p> <p> Financing of £53.1mln to fully fund Phase 1A - namely the first 6Mw - has been completed.</p> <p> The aim is ultimately to deliver a renewable energy plant of almost 400 megawatts (MW) powered by the tidal shifts.</p> <p> In December the firm bought the 100MW Ness of Duncansby site, just east of its flagship MeyGen project, which means the firm will look, in time to increase MeyGen's output to 500MW.</p> <p> It also purchased the 10MW Sound of Islay project in Western Scotland from ScottishPower Renewables for £6.6mln.</p> <p> Significantly, the firm also revealed infrastructure investor Equitix is&nbsp; poised to become a cornerstone investor, under a new partnership.</p> <p> Under the agreement, funds managed by Equitix will acquire at least 25% of each Atlantis project at financial close and&nbsp; work with Atlantis to help find the rest of the money needed to build the projects.</p> <p> Tim Cornelius, chief executive, said: "We have started 2016 where we left off in 2015 and the announcement of our partnership agreement with Equitix represented a major turning point in the transition from demonstration projects to the deployment of commercial scale arrays.</p> <p> He added: "We commenced construction of the world's largest commercial tidal array, remain on track to deliver our new 1.5 MW AR1500 turbine to Phase 1A of the project for installation in 2016 and have managed to consolidate the industry in the UK via two well timed, strategic acquisitions from Siemens and ScottishPower Renewables."</p>   Tidal power firm Atlantis Resources Limited (LON:ARL) said it made great strides in 2015, which culminated in a maiden profit, as it continues to advance its flagship MeyGen site in Scotland - the largest project of its type in the world. Construction there began in January 2015 and it is on track to deliver first power to Scottish homes this year.   ARTICLE          View Edit Delete
126474  Independent Oil & Gas PLC 2016-05-27 07:48:00  2016-05-27 07:57:05  2016-05-27 07:57:05  Independent Oil & Gas hails “important year of significant progress”  Independent Oil & Gas hails “important year of significant progress”      independent-oil-gas-hails-important-year-of-significant-progress-126474.html    <p> Chief executive Mark Routh described 2015 as an “important year of significant progress” for <a href="-##!##-/LON:IOG/Independent-Oil-%26amp%3B-Gas-PLC/" class="companyPopupTrigger" rel="3658">Independent Oil &amp; Gas PLC</a> (<a href="-##!##-/LON:IOG/Independent-Oil-&-Gas-PLC/" class="companyPopupTrigger" rel="3658">LON:IOG</a>).</p> <p> During the year, the company took full ownership and control of the Skipper appraisal asset, which lifted resources by 13mln barrels to 26.2mln barrel.</p> <p> It also secured important licence extensions, and landed a funding partnership with London Oil &amp; Gas which secured the group’s future.</p> <p> Now the company is in the advanced stages of planning for the Skipper well.</p> <p> With the backing of London Oil &amp; Gas it is also continuing to seek new acquisitions.</p> <p> The company ended 2015 with just £23,000 of cash, though its position was bolstered by the subsequent £10mln London Oil &amp; Gas funding arrangement.</p> <p> A reversal of a previous impairment on oil and gas properties resulted in a £5.32mln profit for the year, meanwhile admin expenses amounted to around £510,000 and there were £320,000 of share based payments in the year.</p> <p> “In spite of the exceptionally challenging ongoing market conditions, the company has successfully positioned itself for future growth and with the new financing arrangements has strengthened its position post period end,” Routh said.</p> <p> “It is now well placed to pursue low risk, value accretive opportunities created in the current market environment.&nbsp;</p> <p> “We plan to progress the Skipper appraisal well at the earliest opportunity and to pursue a Hub focussed strategy to create an established development and production focused operator delivering excellent value to shareholders over the coming years."</p>   Chief executive Mark Routh described 2015 as an “important year of significant progress” for Independent Oil & Gas. During the year, the company took full ownership and control of the Skipper appraisal asset, which lifted resources by 13mln barrels to 26.2mln barrel.  NEWS      View Edit Delete
126472  IN THE PAPERS 2016-05-27 07:14:00  2016-05-27 07:31:53  2016-05-27 07:31:53  Papers: G7 warns Brexit will hit global growth prospects  Papers: G7 warns Brexit will hit global growth prospects  Newspapers, headlines, stories, business, Brexit, HS2, BHS, Ashley, Sports Direct    papers-g7-warns-brexit-will-hit-global-growth-prospects-126472.html    <div style="text-align: justify;"> <strong>G7 leaders</strong> warned on Friday that a British vote to leave the EU next month would seriously threaten the world economy, as they promised “more forceful” policies to boost global growth but papered over differences about fiscal stimulus., reports the FT.</div> <div> &nbsp;</div> <div> But the Telegraph reports that <strong>British shoppers </strong>hit the plastic enthusiastically last month, spending a record £9.6bn on credit cards in April despite the Brexit fears. That's up by £300m on the same month of 2015 and indicates growing confidence among consumers, reports the paper.</div> <div> &nbsp;</div> <div> <strong>Axa</strong> is to sell its UK investment, pensions and insurance business Sun Life to Phoenix Group, as part of the French group’s exit from the British life assurance market, the FT reports.</div> <div> &nbsp;</div> <div> The workers’ committee at EDF on Thursday dealt a new blow to the controversial £18bn <strong>Hinkley Point </strong>nuclear power project to build a new nuclear power plant in Somerset, saying it is likely to vote against the plan, reports the FT.</div> <div> &nbsp;</div> <div> The controversial <strong>High Speed 2 rail link </strong>is five times more expensive than a similar line being built in France, according to a new report which has sparked fresh fears about the investment required for the project, writes the Telegraph.</div> <div> &nbsp;</div> <div> A Portuguese-backed consortium is closing in on a deal to rescue<strong> BHS</strong> and its 11,000 employees. The consortium, which is led by Greg Tufnell, the brother of former England cricketer Phil Tufnell, is understood to have already paid part of the sale proceeds to show its determination to complete a deal, writes the Guardian.</div> <div> &nbsp;</div> <div> The Guardian also reports that MPs investigating controversial business practices at <strong><a href="-##!##-/LON:SPD/Sports-Direct/" class="companyPopupTrigger" rel="3495">Sports Direct</a></strong> have told its founder, Mike Ashley, they will not visit the company’s headquarters before next month’s select committee hearing and made it clear they still expect him to show up at Westminster.</div> <div> &nbsp;</div> <div> A <strong>tissue manufacturer </strong>that supplies supermarket giants such as <a href="-##!##-/LON:TSCO/Tesco/" class="companyPopupTrigger" rel="3171">Tesco</a>, Aldi and <a href="-##!##-/LON:MRW/Morrisons/" class="companyPopupTrigger" rel="3169">Morrisons</a> is preparing for a £100m &nbsp;flotation on the junior Aim market next month. Accrol Group Holdings, which &nbsp;imports industrial-sized paper reels from across the world and converts them into &nbsp;products such as kitchen rolls, toilet paper and tissues, hopes to raise about &nbsp;£60m from the listing, reports the Telegraph.</div> <div> &nbsp;</div> <div> One of <strong>Britain’s most historic shipping institutions </strong>looks all but certain to pass into foreign hands after agreeing to exclusive talks with a Far Eastern buyer, reports the Mail. The Baltic Exchange, a centre for bulk cargo trading, is now in takeover talks with the Singapore Exchange – which is seeking a new outlet as its traditional markets stagnate said the paper.</div>     REPORT          View Edit Delete
126468  RESAAS 2016-05-26 16:54:00  2016-05-27 04:43:07  2016-05-26 16:58:47  RESAAS signs 5-year deal with Austin Board of Realtors  RESAAS signs 5-year deal with Austin Board of Realtors  Resaas Services Inc. (CNSX:RSS) shares advanced by 3% on Thursday after the company said it had signed a five-year agreement with the Austin Board of Realtors (ABoR), a 12,000-member organisation serving the central Texas region.     resaas-signs-5-year-deal-with-austin-board-of-realtors-126468.html    <p> <a class="companyPopupTrigger" href="-##!##-/CNQ:RSS/RESAAS/" rel="7521">RESAAS</a> Services Inc. (<a class="companyPopupTrigger" href="-##!##-/CNSX:RSS/RESAAS/" rel="7521">CNSX:RSS</a>) shares advanced by 3% on Thursday after the company said it had signed a five-year agreement with the Austin Board of Realtors (ABoR), a 12,000-member organisation serving the central Texas region.</p> <p> This partnership will allow central Texas Realtors to immediately communicate and share listings in a centralised social platform known as RealTimeMLS.</p> <p> Through RealTimeMLS, ABoR members can now share listings with all 12,000 ABoR MLS (multiple listing service) subscribers within minutes from their phones.</p> <p> <a href="-##!##-/CNQ:RSS/RESAAS/" class="companyPopupTrigger" rel="7521">RESAAS</a> shares ended Thursday up 3.03% at C$1.70.</p>   RESAAS Services shares advanced by 3% on Thursday after the company said it had signed a five-year agreement with the Austin Board of Realtors (ABoR), a 12,000-member organisation serving the central Texas region. This partnership will allow central Texas Realtors to immediately communicate and share listings in a centralised social platform known as RealTimeMLS.  ARTICLE        View Edit Delete
126463  Mkango Resources Ltd 2016-05-26 15:40:00  2016-05-26 15:45:07  2016-05-26 15:43:05  Mkango more than halves losses and boosts cash pile  Mkango more than halves losses and boosts cash pile      mkango-more-than-halves-losses-and-boosts-cash-pile-126463.html    <p> Mkango Resources (<a class="companyPopupTrigger" href="-##!##-/CVE:MKA/Mkango-Resources-Ltd/" rel="6737">CVE:MKA</a>) more than halved its losses thanks to exchange rate translation and boosted its cash pile when it reported first-quarter results on Thursday.</p> <p> Cash and cash equivalents at March 31 were at C$87,774 versus C$63,066 at March 2015.</p> <p> The company achieved a reduced total comprehensive loss of C$106,112 in the first three months of 2016, versus a loss of C$269,569 in the first three months of 2015.</p> <p> The exchange difference on translating foreign operations turned in income of C$188,544 versus a loss of C$15,570 in the earlier period.</p>   Mkango Resources (CVE:MKA) more than halved its losses thanks to exchange rate translation and boosted its cash pile when it reported first quarter results on Thursday. Cash and cash equivalents at March 31 were at C$87,774 versus C$63,066 at March 2015.  NEWS      View Edit Delete
126459  Canadian Securities Exchange (CSE) 2016-05-26 13:05:00  2016-05-26 13:33:19  2016-05-26 13:21:17  Difference Makers – CSE’s Top Performers Share More in Common than You Might Think  Difference Makers – CSE’s Top Performers Share More in Common than You Might Think      difference-makers-cses-top-performers-share-more-in-common-than-you-might-think-126459.html    <p> Every investor in microcap stocks is in it for the big win, targeting double-digit or larger gains virtually every time they make a purchase.&nbsp; Alas, if only it were that easy…most microcaps don’t turn in market-beating performance, and far too many end up costing investors all of their money.</p> <p> Professional money managers typically follow a strict set of rules for choosing the stocks to include in their portfolio – a formula, if you will, to help make the right choices.&nbsp; Stellar returns remain far from assured, but winning companies seem to share particular traits that are easily identifiable.</p> <p> By the same token, public company managers can take certain steps to give their companies the best chance for success, both in attaining corporate goals and in achieving full valuation in the market – objectives that are not exactly mutually exclusive.</p> <p> The CSE has been home to more than a few prolific performers over the years and we profile four recent success stories in this article.&nbsp; What makes these companies tick, why are their shares investor favourites, and what exactly do they do that enables their respective stock prices to perform so well?&nbsp; Is there a magic formula?&nbsp; Let’s find out.</p> <p> <a class="companyPopupTrigger" href="-##!##-/CNQ:RSS/RESAAS/" rel="7521">RESAAS</a> Services (CSE:RSS)</p> <p> “There is no magic formula,” states Cory Brandolini, CEO and founder of <a class="companyPopupTrigger" href="-##!##-/CNQ:RSS/RESAAS/" rel="7521">RESAAS</a> Services Inc. which at its peak to date sat 1,892% above its February 2011 Initial Public Offering price of $0.25.&nbsp; Priced at around $1.60 at date of publication – despite its business being miles ahead of where it was when the stock was at $4.98 – the share price still represents a gain to original investors that anyone would be happy with.</p> <p> “Share price appreciation is a function of two things,” Brandolini explains.&nbsp; “One, execute your business plan and make sure you are growing every month, and two, get that message out so people can understand clearly what you are trying to do.&nbsp; There is no magic to that – it is just hard work, execution on your model, growth of your user base in our case, and messaging that to the investment community.”</p> <p> <a class="companyPopupTrigger" href="-##!##-/CNQ:RSS/RESAAS/" rel="7521">RESAAS</a> was deliberate in formulating the right course of action before executing its business plan, spending over a year canvassing potential clients through focus group-style forums and one-on-one meetings with brokers and CEOs from all of the major brands.&nbsp; <a class="companyPopupTrigger" href="-##!##-/CNQ:RSS/RESAAS/" rel="7521">RESAAS</a> clearly had a vision as to how they felt the industry needed to evolve and the results of a year’s worth of industry data collection served to confirm the team’s ideas.</p> <p> The company then went into a calculated “stealth development” phase before launching the platform on a global basis. The result is a cloud platform connecting the entire real estate services industry around the world in real time.&nbsp; Finding out what you don’t know after you’ve already created your product can be lethally expensive, and since Brandolini and <a class="companyPopupTrigger" href="-##!##-/CNQ:RSS/RESAAS/" rel="7521">RESAAS</a> CFO Cam Shippit come from the financial industry, they understand how critical a strong start is to long-term success.</p> <p> “Our ideology is that we wanted to transform the industry – not disrupt professionals but advance their model,” says Brandolini.&nbsp; “Technology was not the industry’s strong suit.&nbsp; It needed to be solved from an outsider’s point of view, an agnostic point of view, by somebody who didn’t have a dog in the fight but was simply trying to address the legacy based problems within the real estate services industry.”</p> <p> And what an industry to choose.&nbsp; As estimated by the US Federal Reserve, the value of combined commercial and residential real estate assets in the United States alone totals some US $40 trillion.&nbsp; Even though only a small percentage of properties change hands each year, the commissions available to real estate agents reach into the billions.</p> <p> The <a href="-##!##-/CNQ:RSS/RESAAS/" class="companyPopupTrigger" rel="7521">RESAAS</a> platform is a gorgeous piece of online architecture that gives realtors, brokerages, multi-national franchises and associations their own industry-specific enterprise social network.&nbsp; Users get to custom-brand their own environment and enjoy the functionality of real-time information sharing. Think of the power of <a class="companyPopupTrigger" href="-##!##-/NASDAQ:FB/Facebook/" rel="7653">Facebook</a> (<a class="companyPopupTrigger" href="-##!##-/NASDAQ:FB/Facebook/" rel="7653">NASDAQ:FB</a>) and the productivity of <a class="companyPopupTrigger" href="-##!##-/NYSE:CRM/Salesforce.com/" rel="5864">Salesforce.com</a> (<a class="companyPopupTrigger" href="-##!##-/NYSE:CRM/Salesforce.com-/" rel="5864">NYSE:CRM</a>).&nbsp; “There had never been a platform built exclusively for the real estate enterprise side that advances the industry past its early baby boomer designed infrastructure,” says Brandolini.</p> <p> In the third quarter of 2015, the company expanded its suite of services with the addition of the RESAAS Marketplace, where industry professionals can access a wide variety of services from companies such as Top Producer, DocuSign and Dotloop at prices available only to RESAAS members.&nbsp; There are now over 50 participating companies, and counting, in the RESAAS Marketplace.&nbsp; “Our strategy early on was to allow other real estate service providers that offer best in class products the ability to integrate directly into our platform and expose their services within our Marketplace,” says Brandolini.</p> <p> Then in the fourth quarter of last year RESAAS introduced an exciting new feature on the platform called RealTimeMLS.</p> <p> “At the end of 2015 we launched a game-changer for Real Estate Associations. RealTimeMLS is a technology that looks to eliminate static data collecting and turn that process into a real-time model,” says Brandolini.&nbsp; “With RealTimeMLS, for any listing that an agent posts on the RESAAS platform, all of the members of his or her local association will be notified of that listing in real time, and the listing information will be pushed to that agent’s local MLS.”</p> <p> Standing behind this young tech juggernaut is a balance sheet that at December 2015 boasted $6.8 million in cash and just over $438,000 in accounts payable and liabilities.&nbsp; RESAAS has raised well over $20 million since it was established but at the end of last year had barely over 33 million shares outstanding.&nbsp; Talk about solid corporate financial management.</p> <p> Modern tech companies often get high-per user valuations, and there is little reason to believe RESAAS will not one day visit those hallowed realms.&nbsp; After all, its user base is ultra-focused and full of high-paid professionals with shared interests that at the same time have something in common with every single one of us, as we all need somewhere to live.</p> <p> Asked about achieving appropriate share valuation, Brandolini has one more piece of advice.&nbsp; “You have to be able to get your value proposition across,” he says.&nbsp; “Are you disrupting an industry, are you advancing an industry, or are you solving an industry problem?&nbsp; You had better be able to answer one of those three questions affirmatively if you want the value of your company to be properly recognized on the stock market.”</p> <p> <a class="companyPopupTrigger" href="-##!##-/CNQ:LTE/Lite-Access-Technologies/" rel="12984">Lite Access Technologies</a> (CSE:LTE)</p> <p> <a class="companyPopupTrigger" href="-##!##-/CNQ:LTE/Lite-Access-Technologies/" rel="12984">Lite Access Technologies</a> listed on the CSE in a transaction that saw the company raise just over $1.84 million at $0.25 per share, with its first trade printing on June 1, 2015.&nbsp; Since then, its stock price has closed as high as $1.80, up 620%, and at time of publication was $1.61, or 544% higher.</p> <p> Lite Access could hardly have chosen a better time to go public, what with a worldwide “supercycle” in optical fibre installation by large telecoms driving growth for the company’s products and services. &nbsp;And if that cycle is, as the company suggests, merely in the second inning, it is easy to understand why investors have gotten so excited about the prospects for strong, sustained earnings.</p> <p> “Everyone today is touched by the digital world and realizes that high broadband speed and capacity is essential to a modern economy, economic growth and the daily lives of most consumers,” says Michael Plotnikoff, Lite Access co-founder and Chief Executive Officer.&nbsp; “And as rapidly as fiber optic deployment is growing in a general sense, the micro-trenching and air-blown fibre sub-sector that Lite Access specializes in is growing faster.&nbsp; We not only offer pure-play exposure to the space, but our total integrated solutions are based on both proven technologies and widely accepted installation methodologies considered to be the solution of choice for fibre-optic connectivity – that is pretty difficult to find.”</p> <p> Lite Access uses specially designed proprietary equipment to create “micro-trenches” into which it places exclusive crush-proof microduct (micro-conduit) designed for all types of telecom applications, both for today’s needs and those of the future.&nbsp; The microduct serves as a medium through which optical fibre is blown using compressed air to create high-speed broadband connectivity in a matter of minutes and at a cost far less than with traditional cable installation methods.</p> <p> The beauty of the system, and a main factor driving demand, is the lack of interference with the local environment and archaeologically sensitive areas both during initial installation and any subsequent upgrade cycle.&nbsp; As the micro-trenches are narrow, Lite Access installation teams can be in and out of a site quickly (micro-trenching and installing up to 1 metre per minute of microduct) and at a cost much lower than more disruptive conventional methods.</p> <p> Later, when fibre needs to be replaced due to technological obsolescence or upgraded in support of future growth requirements, there is no need to dig up the roadway again.&nbsp; Lite Access simply blows new fibre from the starting point through to its destination at the other end and, voila, there is your upgrade.&nbsp; Nobody outside of the companies involved even knows it took place.</p> <p> As Plotnikoff explains, Lite Access is a pioneer in the micro-trenching and air-blown fibre business, and as the industry shifts into high gear he has a proven team behind him that has successfully completed dozens of projects globally, some quite challenging from an engineering perspective and at times not possible using traditional installation methods.&nbsp; Well-rounded project and management experience is serving Lite Access well from both an operations standpoint and in the market with investors.&nbsp; It is one of several important boxes it has ticked.</p> <p> Good people?&nbsp; Check.&nbsp; And that includes over a dozen partners around the world certified to install microduct and handle air-blown optical fibre installation.&nbsp; These partners will contribute to a re-balancing of the revenue stream in future years as they collectively come to install more of Lite Access’s patented equipment and supplies than the company does itself.</p> <p> Good financial management?&nbsp; Check that box, too.&nbsp; Lite Access has just 30.6 million shares outstanding and no financing has been conducted since the initial $0.25 round.&nbsp; A corporate update released February 1 explained that milestone payments had been received on a $7 million project for BC’s Haida Gwaii community, plus there was over $1 million in receivables and inventory on the most recent balance sheet.</p> <p> Another key point to note is that with the types of customers Lite Access has – which include cities and municipalities, First Nations and Native Americans, as well as private enterprise and local governments – odds are the company rarely, if ever, finds itself chasing anyone for payment.</p> <p> Plotnikoff speaks warmly about shareholders he has interacted with over the past year, saying some have essentially become advocates for the brand, helping build awareness and even calling in with business opportunities.&nbsp; Shareholders are welcome to visit the company’s headquarters and main warehouse in Richmond, British Columbia, if that level of contact is important to them.</p> <p> “Our shareholders are comfortable because they have an open line of communication and clear, transparent access to information,” explains Plotnikoff.&nbsp; “I like to think that if we preserve that approach as a principal component of our corporate culture and continue to deliver growth, we will always have a strong degree of support in the market.”</p> <p> <a class="companyPopupTrigger" href="-##!##-/CNQ:PDO/PUDO-Inc/" rel="14291">PUDO Inc</a>. (CSE:PDO)</p> <p> <a class="companyPopupTrigger" href="-##!##-/CNQ:PDO/PUDO-Inc/" rel="14291">PUDO Inc</a>. debuted on the CSE on July 28, 2015 at $0.70, proceeded to drop to $0.18, yet within two weeks was conducting a private placement of 1.1 million shares at $0.63.&nbsp; Using that as a reference price, the stock has closed up as much as 443%, and as of publication date is up a still respectable 280%.</p> <p> “While you are out and about, we’re here accepting your deliveries” reads the tagline on the company’s website, and that pretty much captures the essence of the PUDO service.&nbsp; We all know how frustrating it is to be waiting for a package, only to arrive home and find that someone tried to deliver it, but unable to do so left a sticky message indicating that you cannot obtain your parcel until the following day.&nbsp; Even more annoying is learning that the package had been delivered, only to be stolen off the front stoop.</p> <p> PUDO completely eliminates this inefficiency by creating locations called PUDO Points where customers can specify their parcels be dropped off so as to be picked up at their convenience.</p> <p> The benefits to all participants in a transaction run deeper than that, but at its core the service makes life more convenient for consumers.&nbsp; It is the simplicity and connection to all of us that PUDO CEO Frank Coccia believes is behind the impressive performance by the company’s shares in the short time the company has been public.</p> <p> “It is a story that everyone understands,” says Coccia.&nbsp; “It is not a biotech company or mining exploration where it can be difficult to see the real potential.&nbsp; I enjoy going out and speaking with investors.&nbsp;&nbsp; They see that couriers, retailers and consumers can have a field day with this.”</p> <p> Digging a little deeper, one learns why the concept would have more natural allies than competitors.&nbsp; Coccia explains that PUDO seeks nothing more than to provide pick-up points inside convenience stores and other established physical locations.</p> <p> Couriers thus know they have a guaranteed delivery and save money by not having to attempt re-deliveries after a failed visit.&nbsp; Retailers that ship product to fulfill customer orders gain flexibility to negotiate with multiple couriers and thereby reduce their shipping costs.&nbsp; The consumer gains the peace of mind that comes with knowing a parcel is available to pick up at a convenient location whenever they like.&nbsp; Convenience stores and other PUDO Points not only earn fees for holding and putting parcels in the hands of their owners, but also from impulse buys thanks to the extra foot traffic.</p> <p> Coccia says that investors also like the fact that PUDO keeps its costs under control by needing little more than to maintain and support the technology behind the service.&nbsp; “The beauty of PUDO is that we don’t own anything outside the technology,” explains Coccia.&nbsp; “The bricks and mortar is already there.&nbsp; We are just taking advantage of the elements in an ecosystem that already exists.”</p> <p> Growth on the ground has been quick to date, with Coccia saying that the company has already established some 800 PUDO Points in Canada and the US and over 6,000 registered locations, this latter category being locations signed up that have yet to go through training so they are fully ready to roll.</p> <p> “Once we hit 3,500 to 4,000 locations in Canada then we should be exactly where we want to be,” Coccia says.&nbsp; “In the US we have over 3,700 registered locations at present and ultimately want 16,000 to 20,000.&nbsp; Once we reach those two numbers we will have a fixed cost with a control centre that manages everything.”</p> <p> Experience helps small companies avoid costly mistakes, and fortunately for PUDO Coccia has been at this for 35 years.&nbsp; “I built niche courier systems, which basically are courier systems for one industry.&nbsp; We did it for the travel industry and the financial services sector and for lawyers serving one another documents and papers.&nbsp; It is all about consolidation where people can pick up mail and drop off their mail.”</p> <p> Coccia expects growth to continue apace, thanks in part to several potential partners he is talking to in the US.&nbsp; “We’d suddenly have a network in the US that could rival that of any national carrier – UPS or even the post office,” he says.</p> <p> With just 15.6 million shares outstanding, PUDO has plenty of room to maneuver if Coccia deems it necessary to raise equity capital for supporting growth.&nbsp; And while the company is not flush with cash, liabilities are fairly low as well, so with revenue beginning to come in Coccia has a good shot at preserving a nice share structure until PUDO reaches the point at which it becomes self-funding.</p> <p> Experienced management, enviable share structure, rapid growth, consistent communication.&nbsp; Does that qualify as a formula?</p> <p> <a class="companyPopupTrigger" href="-##!##-/CNQ:VAI/VirtualArmor/" rel="14340">VirtualArmor</a> (CSE:VAI)</p> <p> <a class="companyPopupTrigger" href="-##!##-/CNQ:VAI/VirtualArmor/" rel="14340">VirtualArmor</a> debuted on the CSE in November of last year at $0.25.&nbsp; It sat quietly for its first couple of months before starting to build a following that has since seen the stock close as high as $0.75 (a 200% gain), and more recently at $0.65 (up 160%).</p> <p> A basic analysis of the company yields some familiar themes, including experienced management and rapid growth underscored by hard-won advantages in a large, fast-growing market.</p> <p> Founder and Chairman Christopher Blisard explains the challenges facing every entity with a presence on the Internet, and thereby the opportunity for <a class="companyPopupTrigger" href="-##!##-/CNQ:VAI/VirtualArmor/" rel="14340">VirtualArmor</a>, in a manner hard to dispute.&nbsp; “Where we are going as a world is that everything is being moved to the edge,” Blisard explains.&nbsp; “You as a consumer or business want everything available all the time at any location.&nbsp; We’ll continue to grow because technology is pushing the boundaries of where data is stored and those areas can become very vulnerable very quickly.&nbsp; You really have no choice but to call companies like ours to take care of your problems.”</p> <p> Established in 2001, <a class="companyPopupTrigger" href="-##!##-/CNQ:VAI/VirtualArmor/" rel="14340">VirtualArmor</a> has crafted a business model over the years that Blisard says literally has no peer within the industry.&nbsp; It involves working closely with hardware manufacturers so that the <a class="companyPopupTrigger" href="-##!##-/CNQ:VAI/VirtualArmor/" rel="14340">VirtualArmor</a> team can go beyond providing a security overlay “a mile wide and an inch deep” and get inside the actual hardware, where the most talented of hackers often go to lay their traps.</p> <p> “We work hand in hand with the manufacturer, plugging their software into our platform so we can go incredibly deep into every piece of equipment we are managing on your network.&nbsp; It is not just a reactive environment at that point, but also a proactive environment.”</p> <p> When <a href="-##!##-/CNQ:VAI/VirtualArmor/" class="companyPopupTrigger" rel="14340">VirtualArmor</a> discusses security with a potential client, it insists on bringing the hardware that will serve as the backbone of the entity’s computer network.&nbsp; Instead of trying to fix the myriad bugs inherent in a system that should have been designed better in the first place, VirtualArmor brings in what it knows will work.</p> <p> Looking at the financial picture, accrual earnings were skewed in 2015 by non-cash items related to the go-public effort, but cash flow was positive for the year, and that’s the number that really counts.&nbsp; Fiscal 2016 should be more indicative, and thus far is shaping up nicely.&nbsp; The company announced on March 8 that it had booked US $2.4 million in sales in the previous 90 days.&nbsp; Given that revenue for full-year 2015 was US $7.4 million, VirtualArmor is so far on pace to beat handily year on year.</p> <p> Matthew Brennan, Vice President of Sales, points to the importance of convincing investors that growth in revenue and earnings is sustainable.&nbsp; “When you have an organization as successful as ours and all of that revenue came from two salespeople, to know we are going to end the year at between six and eight salespeople suggests you will see things move in a positive direction,” he says.</p> <p> Blisard adds that part of the benefit of listing on the CSE has been to broaden the understanding of VirtualArmor and give it new tools to conduct the full extent of the expansion it envisions.&nbsp; “Looking at 2016 to 2017, the objective will be to expand our reach internationally,” he says.&nbsp; “That includes going into Canada and Europe, and particularly the London market.”&nbsp; Blisard goes on to explain that the company has a 10-person Security Operations Center, or SOC, just outside of London that can play a very helpful role in landing and serving local customers.</p> <p> The revenue outlook is further enhanced by the stickiness of the client base, which is actually very easy to assess: “We have never lost a managed services customer and our longest one has been with us for 10 years,” says Blisard.</p> <p> Also helping the share price was the announcement March 16 that the company was cancelling just under 3 million of its shares outstanding, and that several third-party shareholders had agreed to put a total of 3 million shares into escrow.&nbsp; The resulting reduction in dilution, not to mention clear vote of confidence, set a positive tone that the stock price responded to immediately.</p> <p> Blisard is happy with the way the stock has performed to date but points out that he knows education is a process and that it will take time for the company to build the following it thinks it ultimately deserves.</p> <p> “For the Canadian markets a company like this is unique,” Blisard explains.&nbsp; “The investment community understands the importance of cybersecurity in their lives.&nbsp; The people we talk to understand the way our company is structured, how it drives revenue, how it drives profit, and where it sits within the cybersecurity world.”</p> <p> Concludes Brennan, “It is very important that an investor understands there is a roadmap.&nbsp; We made a good decision in not growing too quickly, taking our proceeds and placing smart bets on particular territories and hiring the right people.&nbsp; I think it is key that the investment community understands this.”</p> <p> The Conclusion</p> <p> The keys to success?&nbsp; Good people are absolutely indispensable – a capable management team knows how to get the most out of a business, and has the ability to address problems and get things back on track if something goes wrong.&nbsp; From corporate strategy to financial management and dynamic communications, they know what makes successful businesses work and how to fire on all cylinders.&nbsp; There is no substitute for experience.</p> <p> Share structure is another aspect valued by most investors and managers – if things go right, good structure makes it easier to achieve high EPS, and having fewer shares out to weigh on the market price is clearly a good thing.&nbsp; If things go wrong the well-structured company has superior flexibility in accessing capital markets for the funds needed to right the ship.&nbsp; More often than not, good share structure is a reflection of skillful financial management as, of course, is a strong balance sheet.</p> <p> Then there is being in the right business at the right time (good management again?) – considered another way, it is easier to ride a wave than to fight one.&nbsp; And when a company’s growth outlook is built on a history of expansion already, it serves as a key to winning investor confidence.</p> <p> So, no magic formula, unfortunately.&nbsp; Just hard work, knowing what you are doing, achieving consistent growth of your business and communicating all of this efficiently.&nbsp; It may not be the whole puzzle, but these are definitely some of its most important pieces.</p>   The CSE has been home to more than a few prolific performers over the years and we profile four recent success stories in this article. What makes these companies tick, why are their shares investor favourites, and what exactly do they do that enables their respective stock prices to perform so well? Is there a magic formula? Let’s find out.  ARTICLE        View Edit Delete
126458  Urbana Corp 2016-05-26 12:38:00  2016-05-26 12:58:42  2016-05-26 12:47:23  Urbana’s mix of private and public holdings beats street, appeals to deep value investors  Urbana’s mix of private and public holdings beats street, appeals to deep value investors      urbanas-mix-of-private-and-public-holdings-beats-street-appeals-to-deep-value-investors-126458.html    <p> One would think that with a track record like Urbana Corporation’s (CSE:URB; <a class="companyPopupTrigger" href="-##!##-/TSE:URB/Urbana-Corp/" rel="8448">TSE:URB</a>) the chance to buy its shares at a discount would be almost non-existent.&nbsp; At an annual return based on net asset value exceeding 14% since it was launched in 2002, Urbana easily ranks as one of the better performing investment companies on the block.</p> <p> Puzzling then that its stock is priced around $1.97, while its per-share net asset value is closer to $3.50.&nbsp; “Since October 2002 the rate of growth has been just under 14.54% but the share price is at a significant discount to the asset value, to an extent due to lack of coverage,” explains Thomas Caldwell, Urbana’s President and CEO.</p> <p> Caldwell, of course, is also Chairman of investment dealer Caldwell Securities Ltd.&nbsp; He is well known on Bay Street and Wall Street for making big returns from investing in stock exchanges.&nbsp; “At one point we owned 37 exchanges,” Caldwell notes.</p> <p> That legacy remains a major part of the Urbana investment approach, reflected these days more so in the heavy portfolio weighting in companies involved with the financial industry, be they major banks or service providers to the mortgage business.&nbsp; “That is where I spent most of my career and is an area we like to think we understand,” Caldwell says.</p> <p> In many ways, Urbana is structured to offer investors the best of all worlds.&nbsp; It has just shy of $200 million under management, about 55% in public investments, plus 45% in private investments that its shareholders would almost certainly be otherwise unable to access.</p> <p> Another benefit is that the closed-end nature of the fund is a perfect fit for Caldwell’s investment strategy.&nbsp; “A closed-end investment corporation like Urbana is a great way to manage money because the capital we have is permanent,” he explains.&nbsp; “The problem with mutual funds is that you get your money at the worst time – at the top of markets – and you lose it at the best time – at the bottom of markets.&nbsp; But that is when you should be doing the opposite – you should be selling at the top and buying at the bottom.&nbsp; If a market is going down I am not worried about a run-off of assets and that’s where I make our money.&nbsp; I’m a bargain hunter.”</p> <p> Well-represented sectors these days include US financials, which Caldwell says make up 32% of the portfolio, while a recent move into a set of holdings he calls “Canada Inc.” saw Urbana take meaningful positions in <a class="companyPopupTrigger" href="-##!##-/TSE:ABX/Barrick-Gold/" rel="4248">Barrick Gold</a> (<a class="companyPopupTrigger" href="-##!##-/TSE:ABX/Barrick-Gold/" rel="4248">TSE:ABX</a>), <a class="companyPopupTrigger" href="-##!##-/TSE:SU/Suncor/" rel="4256">Suncor</a> Energy (<a class="companyPopupTrigger" href="-##!##-/TSE:SU/Suncor/" rel="4256">TSE:SU</a>) and <a class="companyPopupTrigger" href="-##!##-/TSE:TCK.B/Teck-Resources/" rel="4402">Teck Resources</a> (<a class="companyPopupTrigger" href="-##!##-/TSE:TCK.B/Teck-Resources/" rel="4402">TSE:TCK.B</a>).&nbsp; “Our Canadian banks are up 10%, <a class="companyPopupTrigger" href="-##!##-/TSE:SU/Suncor/" rel="4256">Suncor</a> is up a few percent, and Teck is up 100%,” Caldwell explains.</p> <p> One of the CEO’s favourite holdings is a private company called Real Matters.&nbsp; Real Matters runs a technology platform and network of more than 100,000 independent field agents that help financial institutions and other entities in the real estate business perform appraisals, insurance inspections, title searches and mortgage closings.&nbsp; Its customers include 60 of the top 100 mortgage lenders in the US and a number of large insurance companies.</p> <p> “Real Matters is run by an extremely bright executive named Jason Smith,” says Caldwell, noting that he invited the Real Matters President and CEO to speak at Urbana’s annual general meeting this year.&nbsp; “I say now that I am not interested in ideas anymore.&nbsp; I am only interested in people who can execute on ideas.&nbsp; He can do that.”</p> <p> Caldwell sees Real Matters eventually listing in the public realm via an IPO, a path that Urbana likes its private investments to move along as they grow and mature.</p> <p> Another successful holding on the private side that anyone who follows Urbana will be aware of is the Canadian Securities Exchange, in which the investment company holds a major stake. &nbsp;Caldwell also serves as the exchange’s Chairman.</p> <p> “The CSE fills a role that I believe, and my directors and partners believe, is important to Canada,” explains Caldwell.&nbsp; “Canada is an entrepreneurial country but it is very hard to build a company here because we are losing a lot of independent dealers and don’t have the big venture pools like they have in Silicon Valley.&nbsp; So what the CSE can do as an exchange is to simplify the role of accessing capital.</p> <p> “Ned Goodman (Deputy Chairman of the CSE and founder of Dundee Corporation - a significant shareholder in the CSE) and I both say the same thing – we feel the CSE is an extremely important link in Canada’s prosperity going forward.&nbsp; We pursue this with almost religious fervor because both Ned and I feel so strongly in terms of helping Canadians.&nbsp; Remember, the large financial institutions and many of the resource companies are going to be generators of unemployment in the years to come.&nbsp; New jobs and head offices are only going to come from new enterprise.&nbsp; That’s where the CSE lives and that’s what we try to nurture.”</p> <p> Fervour certainly is an apt word to describe the way Caldwell feels about the industry he has built his life around, and it troubles him to see certain pillars of the financial community struggling so mightily.&nbsp; “Independent brokerage firms are being massacred and that is going to impact Canada’s standard of living, the number of head offices and new companies,” he explains.&nbsp; “It is a difficult environment right now for new companies trying to raise money.&nbsp; Regulators don’t see that they are addicted to evermore regulation and the damage they are doing to the economy.”</p> <p> Asked about the possibility of Urbana seeing this as an opportunity, Caldwell suggests he needs to know more.&nbsp; “I’d love to sit down with regulators at some point and find out what their intention is.&nbsp; If they are planning to wipe out an industry, which it appears they are, then naturally I would not be doing bargain hunting in it.”</p> <p> In the end, he suspects the over-regulation he witnesses does not even achieve its intended objective.&nbsp; “Quite often in an onerous environment the people who will work hard to jump through the hoops are the ones with the more speculative deals.&nbsp; So it does not even mean that you are thinning the ranks of the villains because those are the ones that will bend the rules.”</p> <p> Regulation run rampant is an issue Caldwell sees as a threat to the Canadian economy but, paradoxically perhaps, he sees strict regulation of the financial industry in the US creating an investment opportunity.&nbsp; “There has been tremendous regulatory pressure on US banks and it is the shareholders who suffer,” says Caldwell.&nbsp; “Our feeling is that they will have to ease up, which would be good for the banks.&nbsp; If they don’t then US banks may unilaterally break themselves back up into commercial and investment banks, which I think would also be good for the stocks.&nbsp; If history has shown us anything it is that when you break up a company, the parts are usually worth more than the whole.”</p> <p> With the discount to net asset value at Urbana so significant, it makes sense to use a portion of the corporation’s capital to buy back its own shares.&nbsp; “We have been very aggressive buying back stock and cancelling it,” says Caldwell.&nbsp; “We have bought back about 37 million shares at a discount, and this has benefited the remaining shareholders.”</p> <p> The buyback has doubtlessly contributed to share price stability, but there still remains a gap wide enough to present opportunity for new investors.&nbsp; “The great bargain right now with Urbana is that for $2.00 you get $3.50 working for you, and that $3.50 has been growing at over 14% per annum for the last 14 years.&nbsp; The stock price will eventually catch up with it but I think in the meantime you can get pretty good management and assets at a discount.”</p>   One would think that with a track record like Urbana Corporation’s the chance to buy its shares at a discount would be almost non-existent. At an annual return based on net asset value exceeding 14% since it was launched in 2002, Urbana easily ranks as one of the better performing investment companies on the block.  ARTICLE        View Edit Delete
126456  END OF DAY NEWS WRAP 2016-05-26 17:28:00  2016-05-26 17:30:11  2016-05-26 17:30:11  UK shares close higher; Westminster Group PLC top riser  UK shares close higher; Westminster Group PLC top riser      uk-shares-close-higher-westminster-group-plc-top-riser-126456.html    <p> FTSE 100 and small cap indices closed higher Thursday as security and services firm <a href="-##!##-/LON:WSG/Westminster-Group-PLC/" class="companyPopupTrigger" rel="1092">Westminster Group PLC</a> (<a href="-##!##-/LON:WSG/Westminster-Group-PLC/" class="companyPopupTrigger" rel="1092">LON:WSG</a>) stole the show.</p> <p> Shares soared almost 123% to 12.25p as it received a letter of intent from an unidentified Middle East airport authority relating to a long-term airport security contract.</p> <p> The potential deal is expected to generate more than £30mln in revenue for Westminster’s aviation security service business, prompting the company to brand it as a “major growth opportunity".</p> <p> Westminster also said it did not believe it would need a separate general meeting to approve a potential share restructuring which it is discussing with several financing partners.</p> <p> FTSE100 closed a smidgen- just 0.07% ahead at 6,267, while FTSE AIM100 added 0.10% to 3,452. The FTSE AIM All-share gained 0.13% to 734.450.</p> <p> Top riser on Footsie was commodities giant Glencore (<a href="-##!##-/LON:GLEN/Glencore-International/" class="companyPopupTrigger" rel="3766">LON:GLEN</a>), up 1.91% to 135.95p, while the biggest laggard was cruise operator <a href="-##!##-/LON:CCL/Carnival/" class="companyPopupTrigger" rel="3154">Carnival</a> (<a href="-##!##-/LON:CCL/Carnival/" class="companyPopupTrigger" rel="3154">LON:CCL</a>) down 3.15% to 3,379.</p> <p> South- African focused gold miner <a href="-##!##-/LON:PAF/Pan-African-Resources-plc/" class="companyPopupTrigger" rel="745">Pan African Resources plc</a> (<a href="-##!##-/LON:PAF/Pan-African-Resources-plc/" class="companyPopupTrigger" rel="745">LON:PAF</a>) surged 17.65% to 15p as it acquired a further interest in Shanduka Gold.</p> <p> <a href="-##!##-/LON:SRES/Sunrise-Resources-Plc/" class="companyPopupTrigger" rel="963">Sunrise Resources Plc</a> (<a href="-##!##-/LON:SRES/Sunrise-Resources-Plc/" class="companyPopupTrigger" rel="963">LON:SRES</a>)&nbsp; was another good riser, adding over 17% on news of a £300,000 share placing and subscription to speed up development of its precious metal exploration programme in Nevada in the US.</p> <p> <a href="-##!##-/LON:BBSN/Brave-Bison/" class="companyPopupTrigger" rel="8353">Brave Bison</a> (<a href="-##!##-/LON:BBSN/Brave-Bison/" class="companyPopupTrigger" rel="8353">LON:BBSN</a>) gained 17.14% to 5.13p. The group was formerly Rightster Group PLC.</p> <p> <a href="-##!##-/LON:MMH/Marshall-Motor-Holdings/" class="companyPopupTrigger" rel="10671">Marshall Motor Holdings</a> PLC (<a href="-##!##-/LON:MMH/Marshall-Motor-Holdings/" class="companyPopupTrigger" rel="10671">LON:MMH</a>) revved up 36p, or 24%, to 187.5p following its £107mln acquisition of Ridgeway Garages (Newbury) Limited.</p> <p> On the losing front, <a href="-##!##-/LON:SBLM/Sable-Mining-Africa/" class="companyPopupTrigger" rel="3714">Sable Mining Africa</a> Limited (<a href="-##!##-/LON:SBLM/Sable-Mining-Africa/" class="companyPopupTrigger" rel="3714">LON:SBLM</a>) dropped over 20% to 0.30p as it launched another investigation after a jury in Liberia reportedly indicted it on charges including alleged bribery.</p> <p> Sable said it noted “recent media comment and speculation regarding allegations of bribery and corruption made against the company in Liberia”.</p> <p> It said: “The company is investigating these matters and taking appropriate legal advice."</p>     REPORT          View Edit Delete
126454  Mosman Oil And Gas Ltd 2016-05-26 16:18:00  2016-05-26 16:24:45  2016-05-26 16:23:41  Mosman looks to regroup after tough year  Mosman looks to regroup after tough year  oil, gas, Australia, acquisitions, deal, diamonds, investment     mosman-looks-to-regroup-after-tough-year-126454.html    <p style="text-align: justify;"> <a class="companyPopupTrigger" href="-##!##-/LON:MSMN/Mosman-Oil-And-Gas-Ltd/" rel="8266">Mosman Oil And Gas Ltd</a> (<a class="companyPopupTrigger" href="-##!##-/LON:MSMN/Mosman-Oil-And-Gas-Ltd/" rel="8266">LON:MSMN</a>) will look for new opportunities outside its traditional business as it tries to bounce back from last year’s “disappointments”.</p> <p style="text-align: justify;"> “Mosman continues to seek to rebuild after a series of extremely challenging events, both operationally and through the market conditions impacted by the oil price.”</p> <p style="text-align: justify;"> “The Board is determined and invested in moving the business forward in 2016.”</p> <p style="text-align: justify;"> A failed takeover of <a class="companyPopupTrigger" href="-##!##-/ASX:MEO/MEO-Australia/" rel="2217">MEO Australia</a> Ltd, poor oil flow from its Petroleum Creek permit and a sell-off from some investors led to the share price dropping from 20.5p in December 2014.</p> <p style="text-align: justify;"> The firm has said it will look to opportunities “in the broader resources arena” while oil and gas prices remain relatively depressed.</p> <p style="text-align: justify;"> Mosman acquired a 20% stake in diamond company GEM International earlier in the week.</p> <p style="text-align: justify;"> Shares were down 0.03p, or 4.3%, to 0.69p.</p>   “Mosman continues to seek to rebuild after a series of extremely challenging events, both operationally and through the market conditions impacted by the oil price.” “The Board is determined and invested in moving the business forward in 2016.” Mosman acquired a 20% stake in diamond company GEM International earlier in the week.  NEWS        View Edit Delete
126449  END OF DAY NEWS WRAP 2016-05-26 16:15:00  2016-05-26 16:08:34  2016-05-26 16:08:34  Proactive news highlights: Advanced Oncotherapy, Faron Pharmaceuticals, Haydale Graphene and more  Proactive news highlights: Advanced Oncotherapy, Faron Pharmaceuticals, Haydale Graphene and more      proactive-news-highlights-advanced-oncotherapy-faron-pharmaceuticals-haydale-graphene-and-more-126449.html    <p> Faron Pharmaceuticals Ltd (<a href="-##!##-/LON:FARN/Faron-Pharmaceuticals-Oy/" class="companyPopupTrigger" rel="14252">LON:FARN</a>) is expanding the scope of the research and development activities carried out on Clevegen, which is designed to use the body’s own immune system to tackle cancer.</p> <p> The company is coupling the pre-clinical drug candidate with its newly-developed tumour immunity enabling technology.</p> <p> In other news, the Africa focussed oil firm <a href="-##!##-/LON:SAVP/Savannah-Petroleum-PLC/" class="companyPopupTrigger" rel="8321">Savannah Petroleum PLC</a> (<a href="-##!##-/LON:SAVP/Savannah-Petroleum-PLC/" class="companyPopupTrigger" rel="8321">LON:SAVP</a>) increased its prospective oil resource base for the R1/R2 asset, in Niger, to 1,19bn barrels with a new independent assessment from consultant CGG Robertson.</p> <p> A new exploration target inventory was also published during the period, and it outlined 14 drill ready exploration prospects on R1/R2, as well as some 37 exploration leads.</p> <p> Elsewhere, <a href="-##!##-/LON:RGM/Regency-Mines-Plc/" class="companyPopupTrigger" rel="858">Regency Mines Plc</a> (<a href="-##!##-/LON:RGM/Regency-Mines-Plc/" class="companyPopupTrigger" rel="858">LON:RGM</a>) revealed it has continued to make new&nbsp; investments - and seemingly a name change looks increasingly necessary - as it backed another hydrocarbon venture.</p> <p> The company, which had focussed on mining, is now backing a new vehicle called Westport Energy PLC which is targeting gas acquisitions in the United States.</p> <p> Specifically, it aims to pick up assets available via foreclosure processes.</p> <p> Over at <a href="-##!##-/LON:TERN/Tern-PLC/" class="companyPopupTrigger" rel="8384">Tern PLC</a> (<a href="-##!##-/LON:TERN/Tern-PLC/" class="companyPopupTrigger" rel="8384">LON:TERN</a>), the investment company specialising in the cloud and mobile sectors is to buy Flexiant, a provider of cloud management software.</p> <p> Tern has held a 1% interest in Flexiant since November 2013 and is now set to take full control, subject to the completion of due diligence.</p> <p> Meanwhile, Xtract Resources (<a href="-##!##-/LON:XTR/Xtract-Resources-PLC/" class="companyPopupTrigger" rel="1106">LON:XTR</a>) sold its Manica gold project in Mozambique less than a year after it acquired it.</p> <p> The explorer only received government approval for its acquisition in March but said the likely dilution in raising US$35mln to build a mine had prompted it to accept the offer from Nexus Capital/MTI.</p> <p> <a href="-##!##-/LON:AVO/Advanced-Oncotherapy/" class="companyPopupTrigger" rel="4119">Advanced Oncotherapy</a> PLC (<a href="-##!##-/LON:AVO/Advanced-Oncotherapy/" class="companyPopupTrigger" rel="4119">LON:AVO</a>) signed a deal that will allow it provide up to £24mln of vendor financing for the company’s first LIGHT machine in Harley Street, London.</p> <p> Last October the company announced the formation of the proton beam cancer therapy centre in the capital.</p> <p> Over at <a href="-##!##-/LON:WSG/Westminster-Group-PLC/" class="companyPopupTrigger" rel="1092">Westminster Group PLC</a> (<a href="-##!##-/LON:WSG/Westminster-Group-PLC/" class="companyPopupTrigger" rel="1092">LON:WSG</a>) it received a letter of intent (LoI) from a Middle East airport authority relating to a long term security contract.</p> <p> The LoI relates to the memorandum of understanding (MoU) signed by Westminster’s aviation subsidiary, Westminster Aviation Security Services (WASS), with a Middle East civil aviation authority back in March of this year. It is one of seven MoUs signed this year with the supplier of managed services and technology based security solutions.</p> <p> And finally, <a href="-##!##-/LON:HAYD/Haydale-Graphene-Industries-PLC/" class="companyPopupTrigger" rel="8277">Haydale Graphene Industries PLC</a> (<a href="-##!##-/LON:HAYD/Haydale-Graphene-Industries-PLC/" class="companyPopupTrigger" rel="8277">LON:HAYD</a>) has signed a new joint development deal which will see a thermosetting resin, based on the group’s functionalised graphene, used to develop class-leading pipeline solutions.</p> <p> The new partnership is with Flowtite Technology AS, part of the Saudi Arabian Amiantit Company, which Haydale highlighted is the world's largest glass fibre reinforced plastic pipe company.</p> <p> &nbsp;</p>     REPORT          View Edit Delete
126452  GOLD, SILVER & PRECIOUS METALS MARKET WRAP 2016-05-26 16:15:00  2016-05-27 09:32:31  2016-05-26 16:21:50  Gold bounces back, but maybe not for long  Gold bounces back, but maybe not for long  gold, silver, platinum, metal, FOMC, Fed, interest rate, bullion, UBS    gold-bounces-back-but-maybe-not-for-long-126452.html    <p> After six days of losses, gold finally started to shine again as it ended its longest run of daily losses since November.</p> <p> The metal is looking to bounce back after hitting a seven-week low just a couple of days ago.</p> <p> Despite climbing up past the US$1,030 benchmark, the metal is still set for its biggest monthly drop for more than six months.</p> <p> Speculation has mounted over the last week or two that the Federal Open Market Committee (FOMC) will raise US interest rates.</p> <p> In its April meeting minutes released last week, the Fed said it would likely increase rates in June if the economy continued to show signs of improvement.</p> <p> US unemployment figures out today seemed to confirm the general thought that the US economy is showing signs of improvement.</p> <p> The data showed that fewer Americans were unemployed than had been previously estimated, which would indicate a recovering economy and healthy labour markets.</p> <p> If the Fed does raise interest rates, it would strengthen the dollar and increase the opportunity cost of holding non-yielding bullion which would probably lead to fall in the price of the precious metal.</p> <p> Speaking to Bloomberg, Dominic Schnider, head of commodities and foreign exchange at <a class="companyPopupTrigger" href="-##!##-/NYSE:UBS/UBS/" rel="7840">UBS</a> Group AG’s wealth management unit in Hong Kong, thinks multiple rate rises are on the cards for 2016.</p> <p> “Definitely second half of the year, we’re going to get two hikes – that’s not fully priced in, and that’s why most dollar strength’s to come,” Schnider said.</p> <p> He added: “Some people are going to get caught on the wrong side. Gold is going to roll over, we’re going to fall back to US$1,150 and so be ready for more weakness in the short term.”</p> <p> Near the end of London trading, gold was up US$2 to US$1,226, silver was up 11c to US$16.40, and platinum was also up US$4 to US$993.&nbsp;</p>     REPORT        View Edit Delete
126450  OIL & GAS MARKET WRAP 2016-05-26 16:08:00  2016-05-26 16:13:31  2016-05-26 16:13:31  Oil price above US$50 sparks mixed reactions  Oil price above US$50 sparks mixed reactions  oil, price, crude, stocks, petrol, cars    oil-price-above-us50-sparks-mixed-reactions-126450.html    <p style="text-align: justify;"> Barely had the crude price risen above US$50 and commentators were warning about the impact on petrol prices.</p> <p> The AA said that the 'party is over; for motorists as concerns over escalating violence in Nigeria, lower than expected US stockpiles and the wild fires in Canada sent Brent and WTI crude higher.</p> <p> It is the highest crude price for seven months, but, according to Commerzbank, oil at this level makes shale oil production lucrative again in many places, which could dampen the fall in production in the coming months.</p> <p> “What is more, oil production is gradually resuming in those regions of Canada plagued by wildfires, which means the supply situation is likely to ease again in the coming weeks.”</p> <p> At its low in January, crude fell to under US$30 per barrel, when prices at the pumps fell to £1 per litre.</p> <p> They have since risen to 110p on average said the AA, which does not expect prices to fall back to 100p again.</p> <p> Research house Capital Economics said that the recovery in oil prices was, on balance, good news for the global economy and for equity prices.</p> <p> “Prices in the $50 to $60 range would be high enough to ease some of the pressure on producers, while still low enough to boost spending on other goods and services.”</p>     REPORT        View Edit Delete
126453  Sable Mining Africa 2016-05-26 16:00:00  2016-05-26 16:32:34  2016-05-26 16:22:57  Sable Mining Africa probes bribery claims  Sable Mining Africa probes bribery claims  Sable Mining Africa Limited    sable-mining-africa-probes-bribery-claims-126453.html    <p> <a class="companyPopupTrigger" href="-##!##-/LON:SBLM/Sable-Mining-Africa/" rel="3714">Sable Mining Africa</a> Limited (<a class="companyPopupTrigger" href="-##!##-/LON:SBLM/Sable-Mining-Africa/" rel="3714">LON:SBLM</a>) has launched another investigation after a jury in Liberia reportedly indicted it on charges including alleged bribery.</p> <p> Sable said it noted “recent media comment and speculation regarding allegations of bribery and corruption made against the company in Liberia.”</p> <p> It said: “The company is investigating these matters and taking appropriate legal advice.</p> <p> “The company will keep the market appraised of developments.”</p> <p> News agency Reuters reported on Thursday that a grand jury in the west African nation’s capital Monrovia had indicted Sable, along with government officials including the speaker of parliament and the head of the ruling party, on charges including bribery.</p> <p> The indictment alleged that the defendants conspired to use their positions to change Liberia's public procurement and concessions law, according to a Reuters report.</p> <p> It asserted they changed the law to allow the country’s mining minister to declare a concession area as a non-bidding area.</p> <p> The indictment failed to say how Sable allegedly benefited from the change and Reuters said it was unable to independently determine if Sable actually did.</p> <p> Earlier this month, anti-corruption campaign group Global Witness (GW) claimed Sable allegedly paid incentives to some of Liberia’s most senior government officials to change the country’s procurement law to win a big iron ore mining concession.</p> <p> GW alleged that Sable and its Liberian lawyer paid more than US$950,000 in bribes and “other suspicious payments”.</p> <p> Sable was formerly headed by ex-England cricketer Phil Edmonds, who stepped down as chairman in January 2014 and is no longer involved.</p> <p> In a statement issued after GW published its report, Sable said it contained “inaccurate and unsubstantiated allegations” against Edmonds and its chief executive Andrew Groves.</p> <p> The company said it appeared to have been based primarily on uncorroborated discussions with three former business partners, or their associates, of Groves and Edmonds, “whose testimony is unreliable.”</p> <p> Edmonds and Groves strenuously denied any wrongdoing, Sable added.</p> <p> Sable also said it had already carried out an investigation which had failed to find any evidence of malpractice.</p>   In a statement issued after GW published its report, Sable said it contained “inaccurate and unsubstantiated allegations” against Edmonds and its chief executive Andrew Groves. The company said it appeared to have been based primarily on uncorroborated discussions with three former business partners, or their associates, of Groves and Edmonds, “whose testimony is unreliable.”  ARTICLE          View Edit Delete
126448  WALL STREET 2016-05-26 15:52:00  2016-05-26 16:21:06  2016-05-26 16:00:54  US shares mixed as traders mull mixed macro data  US shares mixed as traders mull mixed macro data  Wall Street, US, USA, shares, NASDAQ, NYSE, crude, oil, S&P, Sears, macroeconomics    us-shares-mixed-as-traders-mull-mixed-macro-data-126448.html    <p> US shares in contrast to futures and the recent rally, were mixed on Thursday as&nbsp; traders tried to make sense of mixed data and as crude prices rose.</p> <p> The benchmark Dow is down 0.01% to 17,850, the Nasdaq is up nearly four at 4,898 and the S&amp;P500 added 0.69 to 2,091.</p> <p> The price of US crude was US$49.83.</p> <p> Meanwhile, the S&amp;P400 Midcap guage was up 0.09% to 1,482 and the small cap index - the S&amp;P600 was down 0.01% at 697.82.</p> <p> Macroeconomic indicators in the US were mixed today.</p> <p> Reports showed contracts for people to buy previously owned homes rose last month by the most since October 2010, while orders for business equipment unexpectedly declined last month (April) for a third straight month, indicating American manufacturers continue to pull back.</p> <p> Jobless claims fell for a second week, after a surge at the beginning of May.</p> <p> In company news, <a class="companyPopupTrigger" href="-##!##-/NASDAQ:SHLD/Sears/" rel="5980">Sears</a> Holdings Corp (<a class="companyPopupTrigger" href="-##!##-/NASDAQ:SHLD/Sears/" rel="5980">NASDAQ:SHLD</a>) added 4.23% to US$13.05 as it emerged the group was considering more radical moves to boost the performance of a number of businesses after another grim quarter for the retailer.</p> <p> Losses widened in the first quarter to April US$471mln (US$303mln) on sales of US$5.39bn (US$5.88bn). Stripping out one-offs, <a class="companyPopupTrigger" href="-##!##-/NASDAQ:SHLD/Sears/" rel="5980">Sears</a> lost US$199mln.</p> <p> <a class="companyPopupTrigger" href="-##!##-/NASDAQ:SHLD/Sears/" rel="5980">Sears</a>’ branded stores saw a 7.1% like-for-like decline in sales while Kmart registered a 5% fall.</p>     REPORT          View Edit Delete

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