Mining investment specialist Metal Tiger (LON:MTR) today hailed an excellent year in 2014 as assets, profits and its market value all grew sharply.
Year-on-year, the company’s net assets increased by 1,900%, its market capitalisation by over 400%, its borrowings were cut to zero, and it turned the previous year’s £190,000 loss into a profit of £106,000.
The key date was June 2014, when Cameron Parry was appointed as chief executive. Other management appointments followed, £400,000 in new money was raised, and an active investment programme got underway.
It was among a mixed news offering on the day. Here are some highlights.
Elsewhere, the market didn’t enjoy the latest set of results from Zanaga (LON:ZIOC), marking the company’s shares down on the back of a US$110mln impairment charge and losses of US$164mln.
The market is spooked because Zanaga’s key asset is 50% less one share of the huge Zanaga iron ore project in the Republic of Congo, and iron ore is very much out of favour at the moment, having halved in price over the past year or so.
But inside Zanaga, there’s still an air of quiet confidence.
That’s partly because the company had US$12 million as at the end of December, which should be enough to take it through two more years of development and fine-tuning work, if required.
And it’s also because the quality of the Zanaga product is much higher than that for most normal mines, meaning that margins should be very healthy indeed.
Elsewhere, collectibles seller Stanley Gibbons (LON:SGI) successfully launched its online marketplace on 21 May and has been encouraged by the early response.
The company said it would be in a better position to report on visitor numbers and online gross material values when it reports its interim results, as it unveiled sales and profits for the year just gone that were bang in line with expectations.
The company, which changed its year-end last year, racked up sales of £56.9mln in the year ended 31 March, versus sales of £51.8mln in the 15 months to the end of March 2014, it reported today.
Elsewhere, Red Rock Resources (LON:RRR) shares advanced today after it reported on the final results of Australia based miner Jupiter Mines, in which it has a 1.2% stake.
Jupiter holds a 49.9% joint venture interest in Tshipi é Ntle Manganese Mining, which owns two manganese projects in the Kalahari Manganese fields - Tshipi Borwa and Tshipi Bokone.
Meanwhile, ahead of next week’s key planning decision, Sirius Minerals (LON:SXX) shares got a boost from M&A stirrings in the potash sector.
News that PotashCorp, already the world’s largest producer, had launched a US$7bn takeover bid for German rival KALI+SALZ provides further support to Sirius’s claims that a potash mine in Yorkshire can have a significant economic benefit.
PotashCorp’s approach will likely be spurned by KALI+SALZ as the offer is deemed too low, investment bank Credit Suisse said in a note.
Plastics and environmental firm Symphony Environmental Technologies (LON:SYM) is upbeat about the group's future sales potential globally.
Speaking at today's AGM, chief executive Michael Laurier said: "Further to statements made in our 2014 preliminary results announcement on 13 April 2015, the company continues to generate momentum in all operating parts of the business."