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122322  Redrow plc 2016-02-09 12:40:00  2016-02-09 12:45:39  2016-02-09 12:45:39  Redrow builds up profits but faces central London slowdown  Redrow builds up profits but faces central London slowdown  Redrow    redrow-builds-up-profits-but-faces-central-london-slowdown-122322.html    <p> Housebuilder Redrow (<a href="-##!##-/LON:RDW/Redrow-plc/" class="companyPopupTrigger" rel="3107">LON:RDW</a>) unveiled higher first-half sales and profit but said the lucrative central London market was slowing.</p> <p> Redrow reported a 14% rise in pre-tax profit to a record £104mln on an 8% increase in revenue to £603mln in the six months to December 31.</p> <p> Legal completions in the period lifted 18% and the group doubled its interim dividend to 4p per share against the same time last year. Full-year dividend guidance was 10p against 6p last time.&nbsp;</p> <p> Chairman Steve Morgan said demand for new homes was still robust despite it being only the start of the spring selling season.</p> <p> But Redrow's shares fell 24.4p, or 5.78%, to 397.6p as the group said revenue from commercial and land sales being £27m lower than in the first six months last year.</p> <p> It added that the central London property market was facing a slowdown, although the market further out of the capital was still strong.</p> <p> Morgan said: "This is only having a limited effect on the group as we made the decision some time ago to re-focus our London business on outer London where the demand is from the local market and remains robust."</p> <p> He added: "We have a strong pipeline of new sites in planning and our strategy to grow the business and increase the number of homes we build remains on track.</p> <p> "We are therefore confident that this will be another year of significant progress for Redrow."</p> <p> &nbsp;</p> <p> &nbsp;</p>   Chairman Steve Morgan said: "Morgan said: "This is only having a limited effect on the group as we made the decision some time ago to re-focus our London business on outer London where the demand is from the local market and remains robust." He added: "We have a strong pipeline of new sites in planning and our strategy to grow the business."  NEWS        View Edit Delete
122320  Neutra Corp. 2016-02-09 07:30:00  2016-02-09 08:01:03  2016-02-09 07:32:06  Neutra Corp eyes cruise orders for anti-microbial venture  Neutra Corp eyes cruise orders for anti-microbial venture      neutra-corp-eyes-cruise-orders-for-anti-microbial-venture-122320.html    <p> Neutra Corp (<a class="companyPopupTrigger" href="-##!##-/OTCMKTS:NTRR/Neutra-Corp./" rel="12787">OTCMKTS:NTRR</a>) told investors it is set to open a new route for its anti-microbial venture, with potential new business with cruise ship operators.</p> <p> The company said that alongside its joint venture partner Surface to Air Solutions it provided service quotes to two separate cruise liners last week.</p> <p> Zero-Blast, the Texas based joint venture, proposed to deploy its microbial coatings for the ships.</p> <p> It is a non-toxic treatment suitable for fabrics, natural and synthetic fibers and surfaces. &nbsp;Neutra Corp highlighted that a treatment Zero-Blast can protect cruise passengers aboard the vessel from germs for up to three month period.</p> <p> Previously, Zero-Blast was used by one of North America’s largest ambulance fleets.</p> <p> “On cruise ships, passengers and crew are confined to close quarters, making the spread of disease and infection difficult to control,” said Chris Brown, Neutra Corp chief executive.</p> <p> “Zero-Blast’s anti-microbial coatings are a safe and invisible surface treatment that can help eliminate the risk of infection and transmission in common areas, cabins, kitchens, fitness centers and other at-risk facilities on board.”</p>   Neutra Corp (OTCMKTS:NTRR) told investors it is set to open a new route for its anti-microbial venture, with potential new business with cruise ship operators. The company said that alongside its joint venture partner Surface to Air Solutions it provided service quotes to two separate cruise liners last week.  ARTICLE        View Edit Delete
122321  MOST FOLLOWED COMPANIES 2016-02-09 12:21:00  2016-02-09 12:36:22  2016-02-09 12:36:22  Most followed: Credit crunch time again warnings dominate  Most followed: Credit crunch time again warnings dominate  Most followed    most-followed-credit-crunch-time-again-warnings-dominate-122321.html    <p style="text-align: justify;"> When in doubt blame the banks and there was finger pointing-a-plenty towards <a href="-##!##-/NYSE:DB/Deutsche-Bank/" class="companyPopupTrigger" rel="7150">Deutsche Bank</a> for the tumble in stock markets overnight.</p> <p> Reports yesterday that it was struggling to meet a coupon payment on one of its bonds sent credit default swaps in all banks soaring and share prices of financials across the globe into freefall.</p> <p> Credit defaults swaps, the market’s league table of potential defaulters, had <a href="http://markets.ft.com/tearsheets/performance.asp?s=de:DBK">Deutsche Bank</a> more vulnerable than at any time since the 2008-09 crunch.</p> <p> It also re-awoke fears over banks in Italy, Greece and the other struggling parts of the European Union that spread overnight to Japan and Australia where bonds yields tumbled as investors sought safer havens.</p> <p> While some market commentators still insist the recent stock market turbulence is nothing like a real financial crisis, an increasing number of people on social media are not so sure and, as economists will tell you, perception is a mighty big influence on people’s behaviour.</p> <p> Just to add to the gloomy backdrop, the global oil glut is bigger than previously thought, the International Energy Agency said. The recent bounce was in the crude price was likely to be a “false dawn” and oil prices are set to fall further, the oil agency said.</p> <p> Meanwhile, fracking in Lancashire reared its head again as the shale gas explorer Cuadrilla appealed against a decision not to let it drill at Little Plumpton and Roseacre Wood. The appeal is being heard at Blackpool Football Club and with both pro and anti-fracking groups attending, wags suggested it may be the League One team’s largest crowd this season.</p> <p> Pressure on the UK’s major supermarket chains remains intense according to the latest monthly report from Kantar WorldPanel.</p> <p> <a href="-##!##-/LON:SBRY/Sainsbury/" class="companyPopupTrigger" rel="3170">Sainsbury</a>’s was the only one of the big four to see sales rise in the period up until Christmas with <a href="-##!##-/LON:TSCO/Tesco/" class="companyPopupTrigger" rel="3171">Tesco</a>, <a href="-##!##-/LON:MRW/Morrisons/" class="companyPopupTrigger" rel="3169">Morrisons</a> and Asda all being squeezed by no-frills specialists Aldi and Lidl, where sales grew by 13.7% and 18.7% respectively. <a href="-##!##-/LON:TSCO/Tesco/" class="companyPopupTrigger" rel="3171">Tesco</a> is slowing its decline, however, and these were its&nbsp;best sales figures since September last year.</p> <p> Banks again and the UK financial watchdog has landed a big fine on Achilles Macris, the former JP Morgan employee who was the boss of the so-called London Whale, Bruno Iskil.</p> <p> The regulator fined Macris £800,000 for failing to inform them what his employee was up to. JP Morgan was also fined heavily over the trading scandal but the FCA failed to bring any charges against Iskil himself for the activities of the bank's credit derivatives team.</p> <p> Macris, in turn, is taking action against the FCA and said today’s action was a major climb-down by the regulator.</p> <p> &nbsp;</p>     REPORT          View Edit Delete
122318  Tesco 2016-02-09 11:45:00  2016-02-09 16:00:58  2016-02-09 11:47:53  Tesco recovery continues but Sainsbury's surges  Tesco recovery continues but Sainsbury's surges  Tesco, Sainsbury's, Morrisons, Asda    tesco-recovery-continues-but-sainsbury-s-surges-122318.html    <p> <a class="companyPopupTrigger" href="-##!##-/LON:TSCO/Tesco/" rel="3171">Tesco</a> (<a class="companyPopupTrigger" href="-##!##-/LON:TSCO/Tesco/" rel="3171">LON:TSCO</a>) is showing signs of continuing its recovery although arch-rival <a class="companyPopupTrigger" href="-##!##-/LON:SBRY/Sainsbury/" rel="3170">Sainsbury</a>'s (<a class="companyPopupTrigger" href="-##!##-/LON:SBRY/Sainsbury/" rel="3170">LON:SBRY</a>) is catching up fast, according to latest data.</p> <p> The beleaguered supermarket giant racked up its best sales figures since September last year, although they still fell 1.6% in the 12 weeks to January 31, figures from retail research group Kantar Worldpanel showed.</p> <p> <a class="companyPopupTrigger" href="-##!##-/LON:TSCO/Tesco/" rel="3171">Tesco</a>, which has wilted under the weight of an accounting controversy and competition from discounters, has launched a fightback under new chief executive Dave Lewis.</p> <p> But <a class="companyPopupTrigger" href="-##!##-/LON:SBRY/Sainsbury/" rel="3170">Sainsbury</a>'s is still leading the quest for higher sales among the UK's established chains with a 0.6% rise in sales during the period, according to Kantar.</p> <p> While <a class="companyPopupTrigger" href="-##!##-/LON:TSCO/Tesco/" rel="3171">Tesco</a> is still the market leader with a share of 28.5%, that represented a fall of 0.5 percentage points against the 29% share it had a year ago.</p> <p> But <a class="companyPopupTrigger" href="-##!##-/LON:SBRY/Sainsbury/" rel="3170">Sainsbury</a>'s leapfrogged over rival Asda into second place with a 0.1 percentage point rise to 16.8% , putting it ahead of the Walmart-owned retailer's 16.2%.</p> <p> In the same period last year, Asda's market share was 16.9% against <a class="companyPopupTrigger" href="-##!##-/LON:SBRY/Sainsbury/" rel="3170">Sainsbury</a>'s 16.7%. Sales at Asda, which has been trying to claw back market share with another round of price cuts, fell 3.8%.</p> <p> At <a class="companyPopupTrigger" href="-##!##-/LON:MRW/Morrisons/" rel="3169">Morrisons</a> (<a class="companyPopupTrigger" href="-##!##-/LON:MRW/Morrisons/" rel="3169">LON:MRW</a>), the sales decline lessened to 2.2%, while market share fell by 0.3 percentage points to 10.8%, leaving it in fourth place.</p> <p> Elsewhere, there were signs that the explosive growth achieved by discount retailers Lidl and Aldi in the last few years was slowing down as the big four fought back.</p> <p> Both accelerated their growth, with Lidl rising to 18.7% and Aldi to 13.7%, and their market shares by 0.7 percentage points, with Lidl’s rising to 4.2% and Aldi’s to 5.6%.</p> <p> But both the latter figures were down from the 10% combined market-share high at the end of 2015.</p> <p> The Co-op, meanwhile, became the fastest growing non-discounter for the first time since 2011, increasing sales by 1.4%.</p> <p> Upmarket chain Waitrose, part of the employee-owned John Lewis Partnership, increased sales in the period by 0.1%, with market share flat at 5.2%.</p> <p> The grocery market as a whole returned to slow growth after a disappointing Christmas period, increasing take-home sales by 0.2%.</p> <p> Kanta's Fraser McKevitt said: "While the overall grocery market’s growth has been slight, New Year health kicks have contributed to a strong performance across fresh foods."</p>   Tesco, which has wilted under the weight of an accounting controversy and competition from discounters, has launched a fightback under new chief executive Dave Lewis. But Sainsbury's is still leading the quest for higher sales amid the UK's established chains with a 0.6% rise in sales during the period, according to Kantar.  ARTICLE          View Edit Delete
122317  Westminster Group 2016-02-09 11:42:00  2016-02-09 13:31:55  2016-02-09 11:44:33  Westminster shares rise as cargo screening ops begin  Westminster shares rise as cargo screening ops begin      westminster-shares-rise-as-cargo-screening-ops-begin-122317.html    <p> Westminster (<a class="companyPopupTrigger" href="-##!##-/LON:WSG/Westminster-Group-/" rel="1092">LON:WSG</a>) shares advanced as it revealed it was set for an additional revenue stream - as cargo screening operations have begun at Freetown International Airport (FNA) in Sierra Leone, West Africa.</p> <p> Teams from the group's Westminster Aviation Security Services (WASS) division have now implemented all of the security features and equipment required, following regulations brought in by the European Commission after security concerns in 2010.</p> <p> This required all regulated airlines to deploy measures for all cargo bound for the EU and EEA (European Economic Area) and to ensure it was protected from interference.</p> <p> "Following an intensive audit by the EU validator in February 2016 the new cargo operations at FNA have now been accredited with full RA3 status," Westminster said.</p> <p> "These operations are just one of a few airports in West and Central Africa with such accreditation. FNA is now able to provide cargo services destined for Europe, including transit and transfer cargo and this provides considerable opportunities for FNA to become a cargo hub serving neighbouring countries."</p> <p> Westminster will now start screening export cargo for airlines travelling to the EU and elsewhere and revenues will be generated on a variable per kilo security charge tariff.</p> <p> Peter Fowler, Westminster's chief executive, told investors: "I am delighted to announce the commencement of this much needed and eagerly awaited operation.&nbsp; The hard work put in by our security teams and, in particular, our Cargo Security Manager, must be commended, particularly as much of this work was done during the Ebola crisis period.</p> <p> "With the end of the Ebola crisis, the resulting airlines returning, and increasing flight numbers, there is a demand for cargo services.&nbsp; Our investment in advanced cargo screening equipment, systems and personnel can now begin to bear fruit as this new cargo screening service represents an additional revenue stream for the company."</p> <p> Last month, the airport security business inked another memorandum of understanding (MoU) with a government client to supply long term services, bringing the total to four MoUs inked in the last 12 months and means the firm now has around 6mln embarking passengers annually under MoU.</p> <p> The latest deal was for several international airports within the country concerned, the identity of which was not disclosed, although it does have strong GDP growth, the firm said.</p> <p> Shares added 2.86% to 18p but were earlier 7% higher.&nbsp;</p>   Westminster shares advanced as it revealed it was set for an additional revenue stream - as cargo screening operations have begun at Freetown International Airport (FNA) in Sierra Leone, West Africa. Teams from the group's Westminster Aviation Security Services (WASS) division have now implemented all of the security features and equipment required, following regulations brought in by....   NEWS        View Edit Delete
122319  Asante Gold 2016-02-09 06:42:00  2016-02-09 07:53:14  2016-02-09 06:57:52  Asante Gold Corp is issuing shares against debt  Asante Gold Corp is issuing shares against debt      asante-gold-corp-is-issuing-shares-against-debt-122319.html    <p> <a class="companyPopupTrigger" href="-##!##-/CNQ:ASE/Asante-Gold/" rel="7494">Asante Gold</a> Corp (CVE:ASE) has unveiled to investors a plan to convert C$1.096 &nbsp;of debt into equity.</p> <p> The Ghana focussed junior gold company said that issuing new common shares was the best way to reduce debt in order to take advantage of the “recently opened gold financing window”.</p> <p> It maximises the company’s potential to raise significant financing to advance the Kubi gold project to production, and further explore the Betanase and Fahiakoba gold projects as well.</p> <p> Additionally, Asante also intends to raise a small amount of new capital (C$53,300) via a non-brokered private placement.</p> <p> Some 10.967mln new shares, priced at 10 cents each, will be issued against the debt, while 533,000 are being issue in the funding.</p> <p> Douglas MacQuarrie, Asante chief executive, will see his shareholding increase by 3.045mln shares as a result of the new issue of equity and he will subsequently own 27.96% of the company.</p> <p> Goknet Mining, meanwhile, will take some 2.385mln shares and its stake in the company will be 12.24%. Goknet Mining and Asante has one director in common.</p>   Asante Gold Corp (CVE:ASE) has unveiled to investors a plan to convert C$1.096 of debt into equity. The Ghana focussed junior gold company said that issuing new common shares was the best way to reduce debt in order to take advantage of the “recently opened gold financing window”.  ARTICLE        View Edit Delete
122315  LONDON OPEN 2016-02-09 09:50:00  2016-02-09 15:10:20  2016-02-09 09:55:48  Stocks see-saw after Japanese and German turbulence  Stocks see-saw after Japanese and German turbulence  Japan, Germany    stocks-see-saw-after-japanese-and-german-turbulence-122315.html    <p> London's top flight started Tuesday in see-saw mode after Asia turbulence and downbeat German economic data.</p> <p> The FTSE 100 Index began the session on the front foot, then dropped 3.4 points to 5685 after Japanese bank stocks took a hit from economic jitters.</p> <p> Japan's benchmark 10-year bond yield entered negative territory for the first time and the Nikkei dropped nearly 919 points.</p> <p> Back in Europe, figures showed Germany's industrial production in December falling to lows not seen in four months.</p> <p> In the UK, like-for-like retail sales were 2.6% higher year-on-year in January, well above the consensus of 0.3%, according to figures from the British Retail Consortium. The year-on-year growth rate was the strongest since September.</p> <p> Samuel Tombs at Pantheon Macroeconomics said: "Confident consumers are continuing to spend all the windfall from lower oil prices."</p> <p> In the markets, graphics chip-maker Imagination Technologies (<a class="companyPopupTrigger" href="-##!##-/LON:IMG/Imagination-Technologies-Group/" rel="3497">LON:IMG</a>) gained some respite after Monday's fall following news that its chief executive was leaving and it expected annual losses. The shares jumped 9.75p, or 7.5%, to 139p.</p> <p> <a class="companyPopupTrigger" href="-##!##-/LON:SOU/Sound-Energy/" rel="927">Sound Energy</a> (<a class="companyPopupTrigger" href="-##!##-/LON:SOU/Sound-Energy/" rel="927">LON:SOU</a>) eased 0.12p to 18.38p as it said it was set to ramp up production from its Nervesa gas field in Italy after completing the initial cleaning phase.</p> <p> Tungsten Corp (<a class="companyPopupTrigger" href="-##!##-/LON:TUNG/Tungsten-Corporation/" rel="27">LON:TUNG</a>) shed 2.75p to 63p after the electronic invoicing company said it was trading in line and full-year revenue should broadly match previous guidance.</p> <p> But <a class="companyPopupTrigger" href="-##!##-/LON:CYAN/Cyan-Holdings/" rel="261">Cyan Holdings</a> (<a class="companyPopupTrigger" href="-##!##-/LON:CYAN/Cyan-Holdings/" rel="261">LON:CYAN</a>) ticked up 8.77% to 0.155p as it won a first order worth £67,000 for smart meters to be fitted on street traffic cameras in Iran.</p> <p> <a class="companyPopupTrigger" href="-##!##-/LON:AFPO/African-Potash/" rel="3853">African Potash</a> (<a class="companyPopupTrigger" href="-##!##-/LON:AFPO/African-Potash/" rel="3853">LON:AFPO</a>) declined 0.15p to 1.45p after it said payment was still pending for a 20,000 metric tonne fertiliser sale to a Zambian client.</p> <h3> MARKET PREVIEW</h3> <p> UK shares are poised for another turbulent day as investor confidence is shot to bits and after sharp losses in US and Europe.</p> <p> The FTSE100 closed down&nbsp; 2.72% yesterday at 5,689, with banks taking a hit, while the Dow Jones on Wall Street closed 178 points lower. The broader-based S&amp;P500 index lost 27 to 1,855.</p> <p> The index was called by financial spread-betters at IG to continue the decline and&nbsp; open around 16 points lower.</p> <p> In Japan, while other Asian markets are closed, including China, shares fell off the cliff - with the Nikkei 225 plummeting 5.41% to 16,085.</p> <p> The benchmark ten year bond yield in Japan went into negative territory for the first time.</p> <p> The sinking global markets since the new year has been big news and many are beginning to view it as a loss of faith in the actions of Central Banks to help prop up countries' economies.</p> <p> Chris Weston, at IG, said: "It almost feels as though the markets are pushing central banks into some kind of action, but they don’t know exactly what it is they want.</p> <p> "Deeper negative rates could have untold, dire consequences.</p> <p> "Further balance sheet expansion through QE could only lead to more disappointment and an even deeper credibility issue, not to mention dislocations in markets.</p> <p> "What we are seeing is a ferocious destruction of wealth and confidence, with some rather powerful bearish trends developing. Traders and investors need to adapt, if they haven’t done so already."</p> <p> So a stormy day on the cards ahead. On the corporate front, we have a quarterly update from travel group TUI AG (<a class="companyPopupTrigger" href="-##!##-/LON:TUI/TUI-travel/" rel="3507">LON:TUI</a>) to look forward to.</p>     REPORT          View Edit Delete
122305  Tern PLC 2016-02-09 07:48:00  2016-02-09 09:58:20  2016-02-09 07:51:41  Cryptosoft's new platform is a game-changer, says CEO  Cryptosoft's new platform is a game-changer, says CEO      cryptosoft-s-new-platform-is-a-game-changer-says-ceo-122305.html    <p> The latest version of security specialist Cryptosoft's platform offers a game changing solution to the problem of security in the IoT (Internet of Things)&nbsp; arena, says Tern (<a class="companyPopupTrigger" href="-##!##-/LON:TERN/Tern-PLC/" rel="8384">LON:TERN</a>)</p> <p> Tern owns 95% of Cryptosoft, which also today announced it had appointed Dan McDuffie, an IoT visionary,&nbsp; as a board advisor.</p> <p> "With today's announcement, we are solving a critical industry problem." said Cryposoft's chief executive Darron Antill.</p> <p> "The many benefits promised by Machine-to-Machine communications and the Internet of Things will not be held back by security concerns. The era of cost-effective, reliable enterprise security, for the IoT and M2M market has now arrived..."</p> <p> The IoT&nbsp; is where devices, products and services can communicate with each other and with other people over a network.</p> <p> In recent months, numerous headlines have questioned whether reliable security solutions for IoT and M2M devices can be developed, noted Tern.</p> <p> These have included the notion of hackable machines like cars and escalators, that could potentially be controlled for malicious ends remotely.</p> <p> The new release of V4 now offers five central elements needed to deploy secure products, said Tern.</p> <p> These are -&nbsp; policy driven authentication of the user accessing the data; strong encryption around transmission&nbsp; and storage of IOT and M2M data within enterprise networks.</p> <p> Thirdly, the ability to deploy this solution with all types of devices; the ability to provide and update software and devices Over the Air (OTA) or Over the Internet (OTI), and an offering that is available at a cost-effective price.</p> <p> "By managing and distributing keys with easy scalability, the Cryptosoft platform, now incorporating the Device Authority technology, is a game changing solution to this problem," added Antill.</p> <p> "Cryptosoft is one of the most exciting companies I have seen in a long time," said McDuffie, who was group chief executive&nbsp; of Wyless - a global leader in the M2M and IoT Managed Services market.</p> <p> He has a career spanning more than 20 years in the technology industry.</p> <p> Tern shares added over 10% in early deals to stand at 13.625p.</p>   The latest version of security specialist Cryptosoft's platform offers a game changing solution to the problem of security in the IoT (Internet of Things) arena, says Tern (LON:TERN) Tern owns 95% of Cryptosoft, which also today announced it had appointed Dan McDuffie, an IoT visionary, as a board advisor.....   NEWS        View Edit Delete
122314  Xeros Technology Group 2016-02-09 08:57:00  2016-02-09 09:36:51  2016-02-09 09:04:32  Xeros Technology draws a bead on Manhattan laundry market  Xeros Technology draws a bead on Manhattan laundry market      xeros-technology-draws-a-bead-on-manhattan-laundry-market-122314.html    <p> Laundry technology company Xeros (<a class="companyPopupTrigger" href="-##!##-/LON:XSG/Xeros-Technology-Group/" rel="8386">LON:XSG</a>) has signed an eight-year contract worth around $1mln in revenue with New York City-based laundry service provider eLaundry.com.</p> <p> The AIM-listed company will provide eight of its revolutionary polymer bead washing machines to eLaundry.com, which&nbsp;operates one of the fastest growing laundries serving Manhattan, and processes more than 3.6 million pounds of laundry per year.</p> <p> Xeros's machines use less water and fewer chemicals than standard commercial washing machines and the challenge for the company is to convince commercial laundry firms of the superiority of its technology versus old-school water-intensive laundry technology.</p> <p> "This is a substantial long term contract and further evidence that customer momentum is continuing to build in our Commercial Laundry business. Our Sbeadycare service agreements provide customers with the security of long term support and planned preventative maintenance; they also provide us with visibility of forward turnover and contribution,” said Mark Nichols, chief executive of Xeros.</p> <p> Xeros Sbeadycare is described as an innovative, fully integrated programme that provides a worry-free solution across multiple laundry applications including industrial, hospitality, commercial, dry cleaners, work wear, and even athletics clubs and spas.</p> <p> The company claims it can cut a laundry's operating costs by up to a half while providing superior washing and care of fabrics.</p> <p> "This deal further demonstrates the growing demand for our innovative cleaning system which provides material reductions in energy, chemistry and water whilst simultaneously improving wash performance and fabric care," he added.</p> <p> Shares in Xeros were up 2.0% at 184.79p in the first hour of trading.</p>   Laundry technology company Xeros has signed an eight-year contract worth around $1mln in revenue with NYC-based laundry service provider eLaundry.com. The company will provide eight of its revolutionary polymer bead washing machines to eLaundry.com, which operates one of the fastest growing laundries serving Manhattan, and processes more than 3.6 million pounds of laundry per year.  NEWS        View Edit Delete
122312  ICAP 2016-02-09 08:35:00  2016-02-09 11:12:33  2016-02-09 08:46:52  Markets unlikely to return to normal soon, says ICAP  Markets unlikely to return to normal soon, says ICAP  ICAP, Tullet Prebon    markets-unlikely-to-return-to-normal-soon-says-icap-122312.html    <p> Inter-dealer broker <a class="companyPopupTrigger" href="-##!##-/LON:IAP/ICAP/" rel="3226">ICAP</a> (<a class="companyPopupTrigger" href="-##!##-/LON:IAP/ICAP/" rel="3226">LON:IAP</a>) said financial markets were unlikely to return to normal any time soon as it reported a 5% fall in third quarter revenue.</p> <p> The group, which&nbsp;matches buyers and sellers in wholesale markets in interest rates, credit, commodities and other financial products, said markets had stayed tough and client risk appetite was subdued between October 1 and December 31.</p> <p> It said volatility remained relatively low through the quarter but picked up at the start of 2016 in the wake of the US Federal Reserve's quarter percentage-point interest rate hike in December.</p> <p> <a class="companyPopupTrigger" href="-##!##-/LON:IAP/ICAP/" rel="3226">ICAP</a> chief executive Michael Spencer said: "The decision by the Fed to raise interest rates was very welcome, but we are still operating in an environment of ultra-low interest rates and we have some way to go before we return to more normal market conditions.</p> <p> "Risk appetite remains subdued and I see few signs this will pick up any time soon, even after markets began the year with a short burst of extreme volatility."</p> <p> <a class="companyPopupTrigger" href="-##!##-/LON:IAP/ICAP/" rel="3226">ICAP</a> said electronic market revenue fell 10% on a constant currency basis, or 7% on a reported basis, during the third quarter compared to the same period last year.</p> <p> Post-trade risk and information revenue rose 8%, however, on a constant currency basis and on a reported basis during the third quarter, compared to the same period last year</p> <p> <a class="companyPopupTrigger" href="-##!##-/LON:IAP/ICAP/" rel="3226">ICAP</a> is selling its global broking business to <a class="companyPopupTrigger" href="-##!##-/LON:TLPR/Tullett-Prebon/" rel="3475">Tullett Prebon</a> (<a class="companyPopupTrigger" href="-##!##-/LON:TLPR/Tullett-Prebon/" rel="3475">LON:TLPR</a>) in return for a majority stake in the enlarged group.</p> <p> Spencer said the transaction was going well. He added: "We have laid the foundations for our electronic and post trade businesses to deliver strong, cash generative returns for the future.</p> <p> "I remain confident and excited about the range of opportunities ahead of us and our ability to execute our strategy successfully and provide long-term profitable growth."</p> <p> Shares in <a class="companyPopupTrigger" href="-##!##-/LON:IAP/ICAP/" rel="3226">ICAP</a> fell 2.6p to 440.1p. Tullet Prebon's (<a class="companyPopupTrigger" href="-##!##-/LON:TLPR/Tullett-Prebon/" rel="3475">LON:TLPR</a>) stock also dipped 2.6p to 322.4p.</p>   ICAP chief executive Michael Spencer said: "The decision by the Fed to raise interest rates was very welcome, but we are still operating in an environment of ultra-low interest rates and we have some way to go before we return to more normal market conditions. "Risk appetite remains subdued and I see few signs this will pick up any time soon."  ARTICLE          View Edit Delete
122313  ValiRx 2016-02-09 08:27:00  2016-02-09 15:44:50  2016-02-09 08:50:41  ValiRx looks at broadening lead drug to fertility problem  ValiRx looks at broadening lead drug to fertility problem  drug, cancer    valirx-looks-at-broadening-lead-drug-to-fertility-problem-122313.html    <p style="text-align: justify;"> Drug developer <a class="companyPopupTrigger" href="-##!##-/LON:VAL/ValiRx/" rel="3632">ValiRx</a> (<a class="companyPopupTrigger" href="-##!##-/LON:VAL/ValiRx-/" rel="3632">LON:VAL</a>) is readying to expand the reach of its lead drug, VAL201, to &nbsp;female infertility condition endometriosis.</p> <p> VAL201 is currently going through a phase I/II trial as a prostate cancer treatment.</p> <p> <a class="companyPopupTrigger" href="-##!##-/LON:VAL/ValiRx/" rel="3632">ValiRx</a>, though, carried out pre-clinical work using the drug for the treatment of endometriosis and after the performance of VAL201 in its trial thus far, the protocol for an in-human ("in vivo") test is now being designed.</p> <p> Globally, the endometriosis market is forecast to be worth US$1.3bn by 2017 and there are estimated to be 170mln sufferers worldwide.&nbsp;</p> <p> So far, VAL201 has shown a high degree of safety and tolerability in the cancer trial with results to date comparable to pre-clinical studies both&nbsp;<em>in vivo</em>&nbsp;and&nbsp;<em>in vitro.</em></p> <p> <a class="companyPopupTrigger" href="-##!##-/LON:VAL/ValiRx/" rel="3632">ValiRx</a> is now adding additional centres for the dose escalation stage of the trial, which help it meet the planned schedule. Further cohorts of subjects are being recruited as the dose expansion phase completes.</p> <p> The company’s joint venture developing VAL401, a treatment for locally advanced or metastatic Non-Small Cell Lung Cancer, has also registered the drug for a European trial.</p>   ValiRx carried out pre-clinical work using the drug for the treatment of endometriosis and after the performance of VAL201 in its trial thus far, the protocol for an in-human test is now being designed. Globally, the endometriosis market is forecast to be worth US$1.3bn by 2017 and there are estimated to be 170mln sufferers worldwide.   ARTICLE          View Edit Delete
122311  Sabien Technology Group 2016-02-09 08:22:00  2016-02-09 08:24:33  2016-02-09 08:24:33  Sabien Technology growing pipeline but losses increase   Sabien Technology growing pipeline but losses increase       sabien-technology-growing-pipeline-but-losses-increase-122311.html    <p> Boiler optimisation firm&nbsp; Sabien Technology (<a href="-##!##-/LON:SNT/Sabien-Technology-Group/" class="companyPopupTrigger" rel="881">LON:SNT</a>) told investors it had grown its sales pipeline but reported an increased net loss in its latest half year.</p> <p> For the six months to end December the loss before tax was £984,000 compared to £521,000 in the same period of 2014.</p> <p> Sales revenue came in at £321,000 compared to £542,000 previously, while net cash at the end of the year was £868,000 compared to £1.27 mln in June last year.</p> <p> Sabien's M2G real-time monitors are retrofitted and allow commercial boiler units to function more effectively. It has also developed M1G, a retrofit control technology designed to reduce the operating costs of direct-fired water heaters.</p> <p> Last summer, it unveiled a new sales strategy, where it waived fees for initial pilot programmes, to speed up the process.</p> <p> "The key objective for management was to significantly scale up large multi-site M2G pilots in each year over the next 5 years both in the UK and overseas by running up to 35 pilots in the 2015-16 heating season, compared to 8 in 2014-15, and to improve on this level in the 5 years to 2020,"&nbsp; the firm said.</p> <p> As of today, 30 clients have signed a pilot agreement, and, of these, 12 are installed and are being monitored while the remaining 18 are currently awaiting survey.</p> <p> It is expected these pilots will be completed before the end of the current heating season at the end of April.</p> <p> Sabien said gross margins&nbsp; had been hit in the period, at 61% lower than in previous periods due to an increase in costs relating to the pilot programme.</p> <p> Since the end of last year, £412,000 of orders have been received giving total orders received for the year to date of £680,000, compared to £2mln for 2014/15, it noted.</p> <p> The sales pipeline now stands at £6.4mln, compared to £5.8mln last October, which includes both opportunities with an order date in the future and those where we have been asked to quote but where no order date has been indicated.</p> <p> "The board anticipates that the trading performance will be in line with its expectations for 2016 dependent on the group receiving a number of orders by 30 June 2016 for which customers have given an indication of the likely order date."</p>   Boiler optimisation firm Sabien Technology (LON:SNT) told investors it had grown its sales pipeline but reported an increased net loss in its latest half year. For the six months to end December the loss before tax was £984,000 compared to £521,000 in the same period of 2014.....   NEWS        View Edit Delete
122310  Motive Television Plc 2016-02-09 08:10:00  2016-02-09 08:13:20  2016-02-09 08:13:20  Motive Television reduces debt obligation to Bergen   Motive Television reduces debt obligation to Bergen       motive-television-reduces-debt-obligation-to-bergen-122310.html    <p> Tablet TV pioneer Motive Television (<a href="-##!##-/LON:MTV/Motive-Television-Plc/" class="companyPopupTrigger" rel="658">LON:MTV</a>) said Bergen Global Opportunity Fund has converted £60,190 of existing debt into Motive shares.</p> <p> The conversion reduces the nominal value of the convertible securities that could be issued to Bergen from £346,955 to £239,355.</p> <p> In all, 1,203mln Motive shares have been issued to Motive to satisfy the debt, as per the terms of the convertible securities issuance deed between the two parties.</p> <p align="LEFT"> Under the terms of the deed, Bergen has agreed to certain, substantial, limitations on its ability to dispose of the shares it is issued and it has also agreed not to short-sell the company's ordinary shares. Short-selling is the practice of selling shares a party does not own in the hope of buying them back at a cheaper rate later on.</p>   Tablet TV pioneer Motive Television said Bergen Global Opportunity Fund has converted £60,190 of existing debt into Motive shares. The conversion reduces the nominal value of the convertible securities that could be issued to Bergen from £346,955 to £239,355.  NEWS        View Edit Delete
122309  Sound Energy 2016-02-09 08:01:00  2016-02-09 08:06:18  2016-02-09 08:06:18  Sound Energy starts to ramp up production at Nervesa  Sound Energy starts to ramp up production at Nervesa  gas, Italy    sound-energy-starts-to-ramp-up-production-at-nervesa-122309.html    <p style="text-align: justify;"> <a href="-##!##-/LON:SOU/Sound-Energy/" class="companyPopupTrigger" rel="927">Sound Energy</a> (<a href="-##!##-/LON:SOU/Sound-Energy/" class="companyPopupTrigger" rel="927">LON:SOU</a>) is set to ramp up production from its Nervesa gas field in Italy after completing the initial cleaning phase.</p> <p> Production started on 3 February and since then output has been deliberately restricted to 1.0 MMscf/d during daytime hours and 0.7 MMscf/d overnight.</p> <p> Output will now increase over the coming months to the planned production rate of 1.8MMscf/d, Sound said.</p> <p> Nervesa is expected to add production volumes to the group’s steadily growing profile in Italy, where since 2013 it has previously started up two smaller fields.</p> <p> As well as Italy, Sound has been building its positin in Morocco, when a first well on its Tendrara licence is scheduled for the next few weeks through its collaboration with <a href="-##!##-/NYSE:SLB/Schlumberger/" class="companyPopupTrigger" rel="5866">Schlumberger</a>.</p>   Production started on 3 February and since then output has been deliberately restricted to 1.0 MMscf/d during daytime hours and 0.7 MMscf/d overnight. Output will now increase over the coming months to the planned production rate of 1.8MMscf/d, Sound said.  NEWS        View Edit Delete
122308  Tungsten Corporation 2016-02-09 07:51:00  2016-02-09 08:00:20  2016-02-09 08:00:20  Tungsten Corporation trading in line  Tungsten Corporation trading in line      tungsten-corporation-trading-in-line-122308.html    <p> Electronic invoicing company Tungsten (<a href="-##!##-/LON:TUNG/Tungsten-Corporation/" class="companyPopupTrigger" rel="27">LON:TUNG</a>) said trading in its fiscal third quarter was in line with market expectations.</p> <p> Ahead of a presentation to investment analysts today the company revealed that revenues for the full year are expected to be roughly in line with previous guidance.</p> <p> The company continues to expect the loss before interest, tax, depreciation and amortisation for the full year will be no more than £15mln, or £19mln including one-off items.</p> <p> Free cash at the end of the financial year (30 April) should be at least £8mln, Tungsten told investors, with the monthly cash outflow continuing to improve.</p> <p> The board said it is confident it is on track to achieve break-even on an underlying earnings (EBITDA) basis by the end of fiscal 2017, and should rack up positive EBITDA in the six months to 31 October 2017.</p>   Electronic invoicing company Tungsten said trading in its fiscal third quarter was in line with market expectations. Ahead of a presentation to investment analysts today the company revealed that revenues for the full year are expected to be roughly in line with previous guidance.  NEWS        View Edit Delete
122306  Imimobile 2016-02-09 07:46:00  2016-02-09 10:51:34  2016-02-09 07:52:59  IMIMobile's growth potential unrecognised by market  IMIMobile's growth potential unrecognised by market      imimobile-s-growth-potential-unrecognised-by-market-122306.html    <p> Watching 'Dad’s Army' recently, I was reminded of how financial services used to work.</p> <p> Arthur Lowe, the pompous Captain Mainwaring of the Home Guard, was also the local bank manager.</p> <p> What would the starch collared, morning suited, bowler hat-wearing Mainwaring and his ilk have made of my last interaction with the custodian of the Lyall overdraft?</p> <p> It was accompanied by a small vibration from my inside pocket. Fishing out my smartphone, the text revealed I’d inadvertently strayed into the red again.</p> <p> Ignoring my financial strife (or more correctly, the fact I regularly forget to move money between my savings and current accounts), this is now the norm.</p> <p> All financial communication goes via my mobile these days.</p> <p> What was once my local bank branch is now part of a well-known pub chain, while chats with Derek from the Manchester call centre and ‘Dave’ from Bangalore are now also a thing of the past.&nbsp;&nbsp;</p> <p> How I crave those oh so relaxed interactions with my buddies on the sub-continent!</p> <p> But that’s progress and the sort of progress I’m talking about requires the expertise of companies such as <a class="companyPopupTrigger" href="-##!##-/LON:IMI/IMI/" rel="3243">IMI</a>Mobile (<a class="companyPopupTrigger" href="-##!##-/LON:IMO/Imimobile/" rel="14442">LON:IMO</a>) to make the magic happen – if indeed you can call it magic.</p> <p> <a class="companyPopupTrigger" href="-##!##-/LON:IMI/IMI/" rel="3243">IMI</a> is first and foremost a software company. In fact it is a software-as-a-service (SaaS) company.</p> <p> It has a suite of products that allow the big banks, mobile phone companies, utilities and retailers to communicate directly to customers via that phone.</p> <p> The sophistication is such that <a class="companyPopupTrigger" href="-##!##-/LON:IMI/IMI/" rel="3243">IMI</a> is reaching out via anything from the state-of -the-art iPhone 6s right the way through to the old ‘candy bar’ <a class="companyPopupTrigger" href="-##!##-/NYSE:NOK/Nokia/" rel="4197">Nokia</a>.</p> <p> It can send automated but personalised texts, emails, push notifications and voice messages.</p> <p> The reason my bank uses this particular communication channel is because it reduces the costs. Gone are the endless letters telling me I’ve yet again fallen into the financial equivalent of the Twilight Zone.</p> <p> It can equally be used to interact and communicate directly with the pay-as-you-go mobile phone user.</p> <p> In the emerging markets in Africa, where <a class="companyPopupTrigger" href="-##!##-/LON:IMI/IMI/" rel="3243">IMI</a> is partnered with local champions MTN and Orange, it provides entertainment content and information services. In India, a market of 1bn mobiles, it is helping communicate with expectant mums.</p> <p> With a market valuation of just under £90mln it might be easy to mistake <a class="companyPopupTrigger" href="-##!##-/LON:IMI/IMI/" rel="3243">IMI</a> as a novice in the field. We will come onto the valuation later.</p> <p> First, it is worth pointing out <a class="companyPopupTrigger" href="-##!##-/LON:IMI/IMI/" rel="3243">IMI</a> has been around since 2000, so it’s got a track record.</p> <p> In fact, it has an impressive line-up of blue-chip customers – names such as EE and O2 in mobile, while Coca Cola, <a class="companyPopupTrigger" href="-##!##-/LON:CNA/Centrica/" rel="3440">Centrica</a> and Universal Entertainment also jump out from the roster.</p> <p> Chief executive Jay Patel reveals 25 clients spend US$500,000 or more with his company and 15 splash out more than US$1mln.</p> <p> That’s a decent bedrock of client support.</p> <p> Between 85-90% of <a class="companyPopupTrigger" href="-##!##-/LON:IMI/IMI/" rel="3243">IMI</a>’s revenues are recurring, which should help finance director Mike Jefferies sleep more soundly at night.</p> <p> “The churn rate is minimal and we are 'sticky'; its difficult to rip out a live system,” Patel says.</p> <p> The gross profit on sales is around 60%, close analysis of the most recent financial report reveals, while the EBIT (underlying earnings) margin is around 15%.</p> <p> Revenues advanced 28% in the six months to September 30 compared to the year before, while operating profits grew 25% to £3.4mln.</p> <p> Its debtor days (i.e. how quickly <a class="companyPopupTrigger" href="-##!##-/LON:IMI/IMI/" rel="3243">IMI</a> gets paid) are around 70-80 in the UK; 100-120 in Africa and 150 in India.</p> <p> Those latter two numbers would make Proactive’s credit controller wince a little – but the firm is generally owed by big companies worth US$1bn or more. In other words its debtors are well able to pay.&nbsp;&nbsp;</p> <p> Supremely cash generative, <a class="companyPopupTrigger" href="-##!##-/LON:IMI/IMI/" rel="3243">IMI</a> is sitting on around £13.5mln even after having splashed out £3.4mln on the acquisition of Archer Digital, so there are going to be no highly destructive and dilutive equity issues.</p> <p> But are dividends on the horizon? Not for a couple of years. Patel reckons as the world economy tightens, so opportunities will present themselves.&nbsp;</p> <p> He is interested in acquiring customers ahead of new products or technology.</p> <p> “We are waiting&nbsp; the opportunities to arise,” Patel explains.</p> <p> “There has been a wall of money gone into certain tech businesses. Many of them have not made money, but they do have customers.</p> <p> “A lot won’t survive. There will be opportunities.</p> <p> “So we are giving ourselves some flexibility. If it doesn't happen, then clearly we will start paying dividends.”</p> <p> So, what you have is a geographically diverse business with a blue chip client base growing at a decent clip.</p> <p> Why then is <a class="companyPopupTrigger" href="-##!##-/LON:IMI/IMI/" rel="3243">IMI</a> trading at a discount to the IT services sector, which is far more pedestrian than software-as-a-service?</p> <p> Patel reckons the investor circumspection is the result of the general poor performance of businesses in the mobile sector and the Globo fraud and the well-publicised problems of Monitise.</p> <p> Yet <a class="companyPopupTrigger" href="-##!##-/LON:IMI/IMI/" rel="3243">IMI</a> bears no resemblance at all to those two companies.</p> <p> It is fair to say the firm would gain more traction with the tech savvy investors of America’s NASDAQ exchange.</p> <p> A few years down the line it is inevitable one of the global software house will come knocking looking for an off-shelf, mobile solution to sell its clients.</p> <p> Let’s hope when that day dawns Billy Blue-chip pays the going rate – three to four times annual revenues – and doesn’t get <a class="companyPopupTrigger" href="-##!##-/LON:IMI/IMI/" rel="3243">IMI</a> on the cheap.</p>   IMI is first and foremost a software company. In fact it is a software-as-a-service company. It has a suite of products that allow the big banks, mobile phone companies, utilities and retailers to communicate directly to customers via that phone. The sophistication is such that IMI is reaching out via anything from the state-of -the-art iPhone 6s right the way through to the old Nokia.  ARTICLE        View Edit Delete
122307  TUI travel 2016-02-09 07:45:00  2016-02-09 10:48:49  2016-02-09 07:53:34  TUI reports good performance despite political turmoil  TUI reports good performance despite political turmoil  TUI    tui-reports-good-performance-despite-political-turmoil-122307.html    <p> Tour operator TUI (<a class="companyPopupTrigger" href="-##!##-/LON:TUI/TUI-travel/" rel="3507">LON:TUI</a>) reported a hit from geopolitical uncertainty but said it had still done well in the first quarter.</p> <p> TUI said it had a good performance in the first quarter, with a 7.2% improvement in underlying pre-tax earnings, despite political turbulence in some of its destinations.</p> <p> The group added it was evident&nbsp;there had been a significant shift in demand away from Turkey, with summer 2016 bookings to that destination down about 40% at the moment, but it had been able to move quickly to switch focus to alternative profitable destinations such as Spain and the Canaries.</p> <p> It revealed it was still expecting growth in underlying pre-tax earnings before interest and amortisation of at least 10% in 2015/16.</p> <p> Current trading for winter 2015/16 and summer 2016 remained in line with its expectations, taking into account the geopolitical backdrop.</p> <p> Winter 2015/16 was 82% sold to date, with bookings at a similar level to last year and average selling prices up 3%.</p> <p> Summer 2016 was in line with its expectations at this early stage with 33% sold to date, overall volumes up 1% and average selling prices up 2%.</p> <p> It also said it had saved&nbsp;€10mln in relation to corporate streamlining and destination services in the quarter.</p> <p> Group underlying pre-tax losses for the quarter improved to €102mln from €105mln a year ago, or a €97mln loss excluding the negative impact of foreign exchange translation.</p>   TUI said it was still expecting growth in underlying pre-tax earnings before interest and amortisation of at least 10% in 2015/16. Current trading for winter 2015/16 and summer 2016 remained in line with its expectations, taking into account the geopolitical backdrop. Winter 2015/16 was 82% sold to date, with flat bookings and average selling prices up 3%.  ARTICLE          View Edit Delete
122304  African Potash 2016-02-09 07:40:00  2016-02-09 07:44:08  2016-02-09 07:44:08  African Potash said notification on Zambian payment will be made in due course  African Potash said notification on Zambian payment will be made in due course      african-potash-said-notification-on-zambian-payment-will-be-made-in-due-course-122304.html    <p> <a href="-##!##-/LON:AFPO/African-Potash/" class="companyPopupTrigger" rel="3853">African Potash</a> (<a href="-##!##-/LON:AFPO/African-Potash/" class="companyPopupTrigger" rel="3853">LON:AFPO</a>) said payment is still pending for a 20,000 metric tonne fertiliser sale made to a Zambian client.</p> <p> “Notification will be made in due course as and when payment has been received,” investors were told.</p> <p> The deal, worth just over US$10mln in gross revenues, was announced on January 6 and is the first done under landmark tie-up with the African free trade grouping COMESA.</p> <p> AFPO has inked an agreement to sell 50,000 tonnes of fertiliser to an unnamed Zambian firm.</p> <p> This was to be made up of 25,000 tonnes of NPK compound and 25,000 tonnes of urea</p> <p> The sale price achieved was US$508 per tonne.</p> <p> COMESA is a free trade union of 20 African countries and the plan is to supply 500,000 tonnes a year to member states.</p>   African Potash (LON:AFPO) said payment is still pending for a 20,000 metric tonne fertiliser sale made to a Zambian client. “Notification will be made in due course as and when payment has been received,” investors were told. The deal, worth just over US$10mln in gross revenues, was announced on January 6.   NEWS      View Edit Delete
122302  Horizonte Minerals 2016-02-09 07:29:00  2016-02-09 09:18:12  2016-02-09 07:31:33  Horizonte expands its land base around flagship nickel project  Horizonte expands its land base around flagship nickel project      horizonte-expands-its-land-base-around-flagship-nickel-project-122302.html    <p> <a class="companyPopupTrigger" href="-##!##-/LON:HZM/Horizonte-Minerals/" rel="444">Horizonte Minerals</a> (<a class="companyPopupTrigger" href="-##!##-/LON:HZM/Horizonte-Minerals/" rel="444">LON:HZM</a>) has expanded its footprint around its Araguaia nickel property in northern Brazil following the award of four new concessions.</p> <p> In the wake of the acquisition of Glencore’s GAP Project it is amassing a considerable footprint in the region.</p> <p> The two northern concessions it has acquired total 4,325 hectares and butt up to GAP’s Serra do Tapa laterite deposit.</p> <p> The two new southern plots, meanwhile, cover 15,674 hectares and are next to Araguaia’s Jacutinga and Pequizeiro deposits.</p> <p> It has applications in for three further concessions totalling just under 6,000 hectares and it now owns around 110,000 hectares of land comprising 16 concessions.</p> <p> “Following the acquisition of the Glencore project in late 2015 we have been actively identifying any new target areas that may have potential to host additional nickel mineralisation adjacent to our existing resources,” said chief executive Jeremy Martin.&nbsp;</p> <p> “Furthermore we have a number of other new concession applications pending with the Mines Department.”</p> <p> He said the Horizonte team is currently in the process of bringing together Araguaia and GAP Project with the aim of delivering a pre-feasibility study by the second half of the year.</p> <p> In the shorter term the firm is focused on the completion of the environmental and social baseline data collection and working towards obtaining the preliminary mine licence.</p> <p> Horizonte’s Araguaia project contains 72mln tonnes of ore in the indicated category, grading 1.33% nickel; however, last September it unveiled plans to more than double the size of its holding in Brazil by acquiring struggling mining major Glencore’s neighbouring project, which weighs in at 105mln tonnes.</p>   Horizonte Minerals (LON:HZM) has expanded its footprint around its Araguaia nickel property in northern Brazil following the award of four new concessions. Following the acquisition of Glencore’s GAP Project it is amassing a considerable footprint in the region.  ARTICLE        View Edit Delete
122303  IN THE PAPERS 2016-02-09 07:29:00  2016-02-09 07:53:11  2016-02-09 07:33:28  Papers: Shares slide stokes fear of new bank crisis  Papers: Shares slide stokes fear of new bank crisis  papers,     papers-shares-slide-stokes-fear-of-new-bank-crisis-122303.html    <p style="text-align: justify;"> Collapsing stock markets and worries over health of the global banking sector were the main drivers today.</p> <p> The FT leads on the slide in <strong>Japanese and Australian</strong> financial markets overnight, with bank shares tumbling after a global sell-off, the yen spiking and yields on Japanese bonds at new lows.</p> <p> <strong>Bank shares</strong> on both sides of the Atlantic were pounded on Monday and the negative sentiment spilled over into Japan and Australia, with most other Asian markets still closed for the Lunar New Year holiday.</p> <p> The Mail reports that shares in <strong><a class="companyPopupTrigger" href="-##!##-/<a href="-##!##-/LON:BA./BAE-Systems/" class="companyPopupTrigger" rel="8223">LON:BA.</a>C/Barclays/" rel="2989">Barclays</a></strong> and <a class="companyPopupTrigger" href="-##!##-/LON:STAN/Standard-Chartered/" rel="2994">Standard Chartered</a>&nbsp;were suspended yesterday during a day of carnage on the financial markets.</p> <p> The Times adds that fears of a <strong>global slowdown</strong> and worries about a fresh chapter of woe for the world’s banks sent share values plunging to their lowest for three years yesterday. More than £40bn was wiped from FTSE 100 shares in London as a new spasm of investor anxiety took hold of traders across Europe and the United States.&nbsp;</p> <p> <strong>George Osborne’s</strong> finances also get a lot of coverage. The Guardian writes that Britain’s leading experts on the public finances are warning that the turmoil on global stock markets threatens to leave a £2bn black hole in deficit-reduction plans that could force the chancellor to raise taxes or make fresh cuts in spending to hit his budget targets.</p> <p> The Insitute of Financial Studies&nbsp;said Osborne’s plan to put the UK back in the black by the end of the current parliament was vulnerable to a protracted financial market panic.</p> <p> In addition, revenues generated from <strong>stamp duty</strong> in London fell by £105mln in the first nine months of last year, as George Osborne’s reform of the tax led to a slowdown in transactions for the most expensive homes in the capital, writes the paper.&nbsp;</p> <p> A replacement for Britain’s ageing <strong>Vanguard-class nuclear missile submarines </strong>has come a step closer after the Ministry of Defence awarded £201mln to <a class="companyPopupTrigger" href="-##!##-/LON:BA./BAE-Systems/" rel="8223">BAE Systems</a>&nbsp;to develop the so-called “Successor” vessels. The funding pay for the design of the new submarines and to build early prototypes, reports the Telegraph.<strong>&nbsp;</strong></p> <p> The UK is to lose another <strong>coal-fired plant</strong> from its dwindling power capacity after French firm Engie, formerly GDF Suez, said it will shut the 1GW Rugeley power station in Staffordshire, the Telegraph writes. A “deterioration in market conditions" was blamed for the shutdown.<strong>&nbsp;</strong></p> <p> One of the City’s biggest investors in banks has told bosses that it will not tolerate <strong>mega bonus payouts</strong> at lenders which are failing, reports the Telegraph.&nbsp;</p> <p> Royal London Asset Management has issued a warning to executives that they should not expect to be paid enormous US-style salaries and bonuses and particularly not when their firms are performing poorly.</p>     REPORT          View Edit Delete

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