Galliford Try’s first-half performance has encouraged Liberum to repeat its buy rating on the contractor with the results showing continued progress towards its 2026 targets.
The broker’s 2026 target implies 77% upside on its underlying profit estimates for 2023, while cash and PPP contracts alone are worth 186p a share.
Atlantic Lithium’s confirmation that the Definitive Feasibility Study (DFS) at the Ewoyaa spodumene lithium project in Ghana is progressing well, and on track for release in a few months is reassuring, said Liberum.
The DFS will evaluate increased throughput, and the broker’s current target price of 56p (previously 57p) is based on an expanded 3Mtpa DFS case.
Mosman Oil and Gas Ltd (AIM:MSMN) has confirmed a significant increase in reserves at the Cinnabar project, in Texas, where it recently drilled a well.
The company, in a statement, said that following the successful development drilling of and production from the Cinnabar-1 well it has updated the field’s reserves report, resulting in a 78% increase in proved volumes.
Galliford Try Holdings PLC (LSE:GFRD) said it has been appointed to the new £2.5bn prison constructor services framework by the Ministry of Justice (MoJ).
The contractor said it has been awarded places on lot 4 (London and East England on Framework A), lot 6 (South on Framework B), lot 8 (London and East England on Framework B). and lot 9 (National Framework C).
Frontier IP Group PLC (AIM:FIPP, OTC:FGPPF) chief executive Neil Crabb has described the company’s first half as a period of “significant commercial and technical progress across our portfolio” of investments.
However, the top line numbers probably don’t reflect this with the downward adjustment of unrealised profits on its portfolio leading to a pre-tax loss of £500,000.
Ariana Resources PLC (AIM:AAU) has said production from its Kiziltepe gold mining interests in Turkey should be around 18,000 ounces of gold in 2023, with a reduction from 2022 due to lower grade ore and scheduled reduced mill throughput.
Kerim Sener, Ariana managing director, said output at this level would still be more than twice the projected level when it drew up its original feasibility plan.
Atlantic Lithium Limited (AIM:ALL, OTCQX:ALLIF, ASX:A11) has said the definitive feasibility study (DFS) for its Ewoyaa lithium project in Ghana is progressing well and on track for release in the next quarter.
Included in the study will be the recently increased mineral resource at Ewoyaa, Atlantic Lithium said, with the DFS also to evaluate an extended mine life and increased throughput to enhance the project's economics.
Quantum Blockchain Technologies PLC (AIM:QBT) said its wholly-owned subsidiary Clear Leisure has received a favourable ruling from the Venice Appeal Court in its dispute with the former management team and internal audit committee of Sipiem in Liquidazione.
As noted in Clear Leisure’s announcement in November 2022, the Venice court ruled in favour of the group for an aggregate amount of €6.2mln, plus interest and adjustments for inflation and €85,500 in legal expenses (approximately £5.6mln combined).