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LONDON (Alliance News) - Former UK coal miner Coalfield Resources PLC Wednesday said it swung to profit in the first half, following a strong performance from its Rotherham-based property asset. Coalfield Resources which has effectively become a property company after a restructuring, posted pretax profit of GBP3.2 million for the six months ended June 30, compared with a GBP65,000 loss a year earlier, while revenue dipped to GBP767,000 from GBP843,000. Harworth Estate Property is Coalfield's only significant investment. Harworth, in which Coalfield holds a 25% stake, owns and manages 30,000 acres across 200 sites, including commercial, residential and tenancy projects. Wide Coal Pension Funds holds the remaining stake in the firm. Harworth Estate reported pretax profit of GBP12.6 million during the first half, of which Coalfield's share was GBP3.2 million. At an operating level, Coalfield said Harworth's major developments division continued its progress on bringing large consented sites to market. In addition, the strategic land division continued to invest in planning applications to deliver the next stream of sites for major developments. Coalfield said at Logistic North, near Bolton, the first land disposal was completed to food retailer Aldi. The discount supermarket chain is constructing a 450,000 square foot distribution hub on the site. The company expects further progress on sales at this site during the second half of the year. Overall, Coalfield siad its net asset stood at GBP247.3 million compared with GBP234.7 million at the end of December. Financially, it said it has no debt and a positive cash balance. Looking ahead, the company said Harworth Estate's first half results demonstrate the value that "is inherent within its property portfolio." "While the majority of the portfolio remains relatively immature in planning terms, the mixture of brownfield sites with strong strategic locations, including transport and utilities infrastructure, means that a considerable amount of value can still be added by the work performed in advancing the sites through the planning process," Coalfield said. Coalfield Resources shares were up 4.9% at 6.35 pence Wednesday morning.
Nice to see this share rise a little this morning with a good RNS, lets hope this holds huh
· Net assets of £58.4m (FY13: £55.2m) · Net assets per share of 9.6 pence (FY13: 9.1 pence) · Focus on 24.9% investment in Harworth Estates whose assets include: - Investment properties valued at £283.7m (FY13: £278.5m); and - Net assets of £247.3m (FY: £234.7m) · No debt, positive cash balance · Profit from continuing operations before tax in the period of £3.2m (HY13 loss of £0.1m, FY13 profit of £3.3m) principally from the Group's investment in Harworth Estates
http://www.shdlogistics.com/news/view/man-u-stars-launch-peel-programme A 200,000 sq ft motor parts warehouse is to be built in Liverpool, a celebrity event has been told. The revelation came as Manchester United’s “Class of 92” stars launched Peel Logistics UK development programme. The event include a question-and-answer session with Gary Neville and an exhibition football match in which the Class of 92 stars went down 5-1 to Salford City FC. The only celebrity goal coming from a Ryan Giggs penalty. The event at Salford’s AJ Bell Stadium saw Peel Logistics director Matthew Fitton unveil plans for design and build warehousing at the 75-acre multi-modal Port Cheshire site, as well as existing schemes at Port Salford, Knowsley 700 and Liverpool International Business Park where 2m sq ft has been built so far. Fitton explained proposals were being worked up for a 200,000 sq ft design and build facility that will be marketed directly to the automotive sector. Peel Logistics comprises land assets from The Peel Group, Peel Ports and through a strategic alliance with Harworth Estates where The Peel Group has a shareholding. Peel Logistics can provide occupiers with development solutions from small industrial units up to 1m sq ft e-fulfilment centres.
I'm not worried Ken, managed to pick up some more this morning ;-)
Im only out temp ...... still have a little log burning here!! don't worry
When did you sell Ken?
I am out for a short time just a candle burning.... I will be back!!
Any views on the tight spread?
She is probably still trying to get a word in edgeways :). Harworth shafts are now in the process of being capped, HEL tried to get on site to moniter the ongoing work, but were politely told to do one by UK COAL as they still have ownership of harworth until the capping is complete. The land then reverts to HEL, the capping should be completed mid november. Regards Demac
ps wheres that ZIENNA gone. she had all the info on PEELs interest years ago??? ************************************************************
ahhhh all that work.... its a big bluddy pain I know, I have this week dip-ped in and out to trade ( which I dont normally do) HURRICANE stock. put the profit into EUROPA (EOG) and as Im a glutton for Punishment FRR ( FRONTERA) My thoughts turn to the takeover of HEL ( Harworth estates) by CRES as this is the only function of CRES? so as and when this happens, it may explain the dead dog price. ********************************************************************* However, its a usefull parking space for my little stock
No one can blame you Bridget, all the best with your future investments, sorry to see you leave us ;-)
got bored and sold up at a loss but hoping to use the cash wisely elsewhere and possibly buy back in if sommat happens ,good luck to all holders .. don't panic not going too far ..still around and watching
MORE CRES ( HEL) Please
Harworth Estates partners with Anesco to install 30MW of solar on former collieries http://www.solarpowerportal.co.uk/news/harworth_estates_partners_with_anesco_to_install_30mw_of_solar_on_5267 Three former colliery sites in Nottinghamshire will soon be transformed into solar farms capable of generating enough electricity to supply 10,000 local homes. UK property regeneration company, Harworth Estates has partnered with renewable installer, Anesco to install a portfolio of 30MW on its former coal mines. Construction has already begun on the first project in the portfolio, an 11.2MW solar farm at the Welbeck Colliery in Mansfield. Following its completion, work will begin on two 5.74MW projects at Gedling and Blisthorpe. A fourth site in Yorkshire is also planned, pending planning permission. Eddie Peat, director of Natural Resources at Harworth Estates, commented that low-carbon energy projects formed “an important part of Harworth Estates’ commitment to the community and the environment”. Peat added that the solar farm project would not only bring clean energy to thousands of local homes but also new jobs for the region. The government recently unveiled measures designed to curb the expansion of large-scale, ground-mounted solar farms in the UK with Greg Barker, minister for climate change, pledging to shift the focus toward commercial rooftop developments. Speaking to Solar Power Portal, Barker explained that the step away from ground mount solar is designed to “avoid solar becoming the new onshore wind from pushing too many insensitively placed sites...That is not to say that in the right place, large arrays can’t work, particularly Brownfield sites”. Adrian Pike, CEO of Anesco explained that the announced 30MW solar portfolio is a perfect example of sensitively-sited solar. He said: “Through these installations we will not only be regenerating disused land but will be creating employment, generating renewable energy and helping to reduce the UK’s carbon emissions. “Working with landowners to develop sites likes these former collieries fits perfectly with government policy, with the Department of Energy and Climate Change pushing the focus of growth in solar to be on brownfield sites and domestic and industrial roofs. These sites are based in the Midlands and north of England, which is important as we believe it is essential that solar developments are made across the UK and not just in the south west.” Harworth Estates owns close to 200 former coal sites across the UK and plans to develop a range of low-carbon energy projects in addition to solar, including wind, hydro and anaerobic digestion.
I've got 720,000 trying to get to 1M without moving the price up. Keep the faith ;-)
possible need new guy to assist takeover??/ Sale of harworth Insurance etc blah blah
Keep those frontera embers glowin. :-*
all alone on here ... your buying and I am selling but not all ..keep the faith and one day the SP could get to the dizzy high of 7p . you may be right with the buy out ?? had the same idea many many moons ago ..will check in again next week ... have a good one !!!
lonely board here!! shout out please any one..........anyone !! :-D
HI LEGO more top up again today..... ya seen the CUMBRIA mine. are you still in at CRES. very quiet at the moment....... they are selling the insurance division this year & also dollars on the books from releasing them selves further from assistance on the MINE Closures, which is on the cards. CRES WILL BECOME HEL in my opinion (HARWORTH ESTATES) UK GOV will want the 150 MILL for the PENSIONs so sale to CRES will be a first option this will be backed by PEEL and the CITY. watch this space http://harworthinsurance.co.uk/ http://www.coalfieldresources.com/uploads/assets/pdf/748_20130823finalcfrinvestorpresentationgeneralmeeting.pdf
me own thoughts turn to HEL and this crops up more and more COALFIELDS is a dead and buried name IMO after all you cant give COAL away, even though we dont mine it.... 'HEL' is cropping up in the news ,,,,, is and when will CRES become HEL.... I know 150 MILL short on pension fund for UK GOV, prob a bot convinient that CRES raise the dosh to buy out HEL.... ?????????? just my thoughs hey
Coalfield Resources Says UK Coal Mine Wind Down Won't Proceed LONDON (Alliance News) - Coalfield Resources PLC Thursday said Harworth Estates Property Group, its only significant investment, has not been able to secure an extended wind-down of two of Britain's last remaining deep coal mines operated by UK Coal Production Ltd, after Hargreaves Services PLC on Wednesday said that it will no longer be involved in providing loan finance to UK Coal as part of coal miner's plan to close the mines. Harworth Estates, as the freeholder of most UK Coal's sites, had been in talks with the British government and UK Coal over a loan to allow the managed closure of the company's mines. In April, UK Coal said it planned to close two of its three remaining deep-pit coal mines, resulting in the loss of 1,300 jobs from its total 2,000 workforce. The UK government agreed to give the country's largest coal producer a GBP10 million loan, in addition to an equal loan from the private sector, to facilitate the "managed closure" of the mines. In the same statement on April 10, solid fuels and bulk material logistics company Hargreaves Services said it was working closely with the government and key stakeholders with the intention of providing marketing and operational support on commercial terms, including the provision of a GBP5 million secured loan to UK Coal. However, Hargreaves Services said in a statement Wednesday that it was not possible to agree a plan that it is able to support. "In these circumstances the company is no longer able to provide loan finance and has now withdrawn from the process," Hargreaves Services said in the statement. Harworth Estates said Thursday that it no longer expects the wind down and closure plan to proceed. Harworth "was a supportive participant in the consortium but has reminded its shareholders that it provided for the anticipated higher cost of an immediate closure of UKCP mines in its 2013 accounts," Coalfied said in a statement. Harworth does not expected a further negative impact on its property valuations, and as such Coalfield said it does not expect a reduction in the carrying value of its investments in Harworth. Following a restructuring, Coalfield Resources has effectively become a property company through its 24.9% shareholding in Harworth Estates Property Group Ltd, the property business it owns jointly with its former mining company's pension fund. Harworth Estates owns and manages 30,000 acres across 200 sites, including commercial, residential and tenancy projects. Wide Coal Pension Funds holds the remaining stake in the firm. Coalfield shares were quoted down 0.2% at 6.11 pence Thursday. By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews Copyright 2014 Alliance News Limited. All Rights Reserved.
Lots of sells of late Stock being held? But its not being given away is it???? still piloting at +6pence any comments???