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Investor Update: Bushveld reveals updated resource for Vametco mine

Top stories from the Proactive Investors UK newsroom:

Barrick Gold (NYSE:GOLD) (TSX:ABX) has made an offer to buy out the minority stake in Acacia Mining (LON:ACA) to resolve the ongoing dispute with the Tanzanian government over unpaid taxes.  Barrick has been negotiating with the Tanzanians over the issue but Acacia has been excluded from these talks.

Bushveld Minerals (LON:BMN) has more than doubled its reserves of vanadium ore at the Vametco mine in South Africa to 279,100 tonnes, with the grade also rising.  The miner said the new reserves mean it can mine at the site for decades.

IXICO PLC (LON:IXI) has swung to a profit in its first half as the company began to reap the benefits of a number of contract wins. For the six months ended 31 March, the neuroscience-focused data analytics group reported a pre-tax profit on ordinary activities of £106,000, up from a £514,000 loss in the prior year.

Motif Bio (LON:MTFB) has signed an agreement with a German university to conduct a study evaluating anti-biotic iclaprim as a treatment for a toxic blindness-causing parasite.

M&S has confirmed a £601mln rights issue to fund its delivery joint venture with Ocado. Terms are one-for-five at a price 185p.

Royal Mail is to take an axe to its dividend as more restructuring costs saw annual profits fall by 30%.  This year’s payout is held at 25p but next year it will drop to 15p to help pay for an £1.8bn, five-year investment programme.

 
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