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Proactive news summary: Bacanora Minerals, Genel Enery, Myrtah Energy, Tethys and more...

Meaty profits for Domino's pizza, a new deal for Tethys Petroleum and Genel Energy sees a drop in revenues.
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Daily news round-up from the world of Proactive

Domino's Pizza (LON:DOM) served up meaty profits and dividends boosted by a surge in online sales but said it would face a challenge to match last year's performance in 2016.

Domino's reported an 18% rise in pre-tax profit on a 10% increase in revenue in the year to December 27. It saw nine quarters in a row of double-digit like-for-like UK sales.

In other news, Tethys Petroleum (LON:TPL TSE:TPL) announced the signing of a legally binding financing deal with Kazakh investor Olisol.

Following on from a non-binding agreement last week, the Kazakhstan focused oil and gas junior confirmed today that Olisol would provide it with a $15mln convertible debt facility.

Elsewhere in oil, Genel Energy (LON:GENL) revealed a 34% drop in revenues for 2015 as a result of falling oil prices. The impact of low prices was, however, partially offset by a rise in production. At

84,900 barrels of oil per day Genel's output was up 22% from the prior year.

Over at ECR Minerals (LON:ECR), the resources group’s subsidiary has bought two gold projects in Australia with the potential to generate near term revenue from processing historic dumps.

Snowden consultants are currently preparing a JORC technical report on the Avoca and Bailieston projects in Victoria after ECR subsidiary Mercator Gold Australia struck a deal with Currawong Resources.

Meanwhile, ITM Power’s (LON:ITM) project pipeline has risen to £18.7mln with growing interest in its rapid response electrolysers.

The hydrogen storage and fuel systems group has £9.7mln of projects contracted and a further £9mln in the final stages of negotiation. That compares with £17.7mln in total at the end of January, which itself was 55% higher than a year earlier.

Bacanora Minerals (LON:BCN CVE:BCN) has started to search for offtake partners after a pre-feasibility study on its Sonora deposit indicated it can become a major lithium producer.

Peter Secker, chief executive, said the next key step is a full Feasibility Study, which it has funded already and should be completed in a year’s time.

Mineral sands specialist Sierra Rutile (LON:SRX) said mining and investment banking veteran Robert Edwards will become independent non-executive chairman.

The 49-year-old will replace Michael Barton who stepped down on 2 March following his departure from Pala Investments, Sierra's majority shareholder, to pursue other career opportunities.

Over in green energy, Indian wind power group Mytrah Energy (LON:MYT) has refinanced its existing portfolio of sites through a US$380mln debt package with three banks.

Mytrah said it was the largest refinancing ever seen in the Indian renewables sector and the first to put ten wind power plants under one financial package.

It will mean lower interest costs and a higher credit rating.

And finally, pawnbroker H&T Group (LON:HAT) said it traded well last year, despite difficult markets, and posted a 23.6% increase in pre-tax profit.

It stabilised its core pawnbroking business and also made progress developing other revenue lines.


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