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Small caps: Atlantic Global, Kewill, UK Coal...

Mon, 19th Jul 2010 13:47

Coal miner UK Coal expects to post a higher interim loss of about £94m, up from £81.5m, after costs of its recent refinancing.The operating loss will be £52m, against losses of £37.7m, while property valuation losses are expected to be around £10m. Net debt at 26 June 2010 is expected to be around £170m and £255m excluding restricted cash."We continue to expect full year production to be around 7.6m tonnes, with deep mines production of around 6m tonnes, up from 5.7m tonnes and surface production of about 1.6m tonnes," UK Coal said.Logistics software group Kewill's trading since March has been in line with expectations, though the longer sales cycles continue in line with the difficult economic environment. Discussions continue regarding a potential offer to acquire Kewill, though there is no certainty that an offer will be made, the statement added.Business software group Atlantic Global lifted interim turnover by 20% and is back in profit after the loss of £200,000 this time last year. "The pipeline of new business opportunities is satisfactory and progress has been made on contracts arising from partnership opportunities. The directors believe that Atlantic Global will continue to produce an improved performance in the second half of 2010," it said.Contract bio manufacturer Angel Biotechnology made a first half net profit £107,000. "We expect this trend to continue and look forward to announcing a net profit for the full year 2010," it added.More than 92% of 2010 budgeted business has been signed and almost 40% of the business budgeted for 2011. "Angel has enjoyed a successful and productive first 6 months of 2010. In addition to making our first ever half year profit, we have now secured most of the business required to deliver our plan for 2010," Gordon Sherriff, COO, said.Shares in Carr's Milling advanced after the feed group said it expects profitability for the full year to be well above last year's underlying result. Entertainment products distributor MBL Group reported a 22.2% rise in full-year pre-tax profits to £9.9m on revenues up 35.7%.Miner Beacon Hill has wrapped up a $55m investment from Consolidated Minerals and Global Coke to "rapidly advance" development at its Minas Moatize coal mine in Mozambique.The pair, who will get a 26% stake for their money, also intend to enter into a mine gate off-take agreement to buy all of the coking coal produced during the mine life of Minas Moatize.Dual-fuel combustion technology firm Clean Air Power fell further Monday after warning that 2010 revenue will be less than expected due to delays in Dual-Fuel unit sales and hold-ups at a new gas facility in Tasmania.The firm, which today signed a "significant" five-year supply agreement with Volvo, said sales will come through, but won't be recognised until later in the current year or first half of 2011. It's also considering a possible equity fundraising, of which further details will be announced shortly.Uranium group Forte Energy has reported a maiden JORC Code compliant mineral resource estimate for its 100%-owned Bir En Nar uranium project in Mauritania, West Africa.There's an initial indicated and inferred resource of 1.33 million tonnes (Mt) at 704 parts per million (ppm) U3O8 for 2.06 million pounds (Mlbs) of contained U3O8."Bir En Nar is a high grade deposit which remains open at depth in several areas, including evidence for another mineralised zone between the Northern and the Southern Zones," said managing director Mark Reilly."The next drilling campaign will target these areas as well as improve the data from the RC holes which could not be incorporated in this initial resource statement."

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4 Apr 2014 09:57

Forte Energy Buys Uranium Assets In Slovakia For CAD8.5 Million

LONDON (Alliance News) - Forte Energy NL Friday said it has entered into a binding deal for the acquisition of the uranium assets of European Uranium Resources Ltd for roughly CAD8.5 million. The uranium explorer said European Uranium is a Toronto Stock Exchange-listed company with interest

2 Apr 2014 12:22

Minnow Forte Energy flies on acquisition news

Shares in AIM minerals mining minnow Forte Energy soared on news of a possible acquisition. The company announced that it had its shares suspended on the Australian Securities Exchange (ASX) pending an acquisition announcement within the next two days. Forte shares continued to trade on AIM throug

31 Oct 2013 16:22

Anite directors stock up after profit warning

Directors at Anite made a round of share purchases on Wednesday, the biggest of which was made by Chairman Clay Brendish and Non-Executive David Hurst-Brown. Brenish acquired 28,250 shares at 91.00p, costing him a total of £25,708, while Hurst-Brown bought up 50,000 shares at 89.50p for a total of

16 Sep 2013 11:24

UK Winners & Losers: Miners Hit By Gold Price Fall But Airlines Soar On Oil Slide

10 Sep 2013 11:22

Trading of Forte Energy shares remain suspended on ASX

Forte Energy shares have continued to be suspended from trading on the Australian Securities Exchange (ASX), the group said Tuesday. As previously reported, this is as a result of the pending update on due diligence and negotiations in relation to the proposed transaction to acquire Leo Mining And

3 Sep 2013 11:13

Forte Energy shares jump ahead of acquisition update

Forte Energy shares shot up on Tuesday after the group placed its shares on the Australian Securities Exchange under a trading halt. The decision was made ahead of the release of an announcement on due diligence and negotiations in relation to the previously announced proposed transaction to acqui

6 Jun 2013 11:55

Forte Energy secures two-year loan

Forte Energy has secured a one million dollar two-year loan facility with Dutchess Opportunity Cayman Fund. An initial drawdown of $0.6m has been received as part of the loan, which will accrue an interest of 8.0% per year. "We are pleased to work with the management team at Forte Energy and to he

10 Apr 2013 11:36

Forte Energy to commence drilling in Mauritania

AIM-listed Uranium explorer Forte Energy NL has signed a contract with Wallis Drilling Africa for approximately 5,000m of NQ Aircore drilling in the highly prospective areas close to the A238 prospect and at Hassi Baida in Mauritania. An operational update issued by the company showed that drill

28 Mar 2013 15:03

Two Sports Direct execs sell off entire stakes

The Chief Executive Officer and Finance Director of Sports Direct, the High Street sports retailer, sold off their entire holdings in the firm this week following a strong share-price performance over the last year. David Forsey and Robert Mellor both offloaded their remaining 803,922 shares each i

12 Mar 2013 08:58

Forte Energy identifies uranium mineralisation at Mauritania resource

Forte Energy NL, the AIM-listed uranium company focused on the development of a portfolio of uranium assets, has unveiled positive assay results from its drilling campaign in Mauritania, West Africa. The Australian company reported that drilling and assay results confirmed intermittent narrow miner

1 Mar 2013 12:40

Forte Energy shares plummet as deal talks end

Forte Energy shares plunged more than 23 per cent Friday as the uranium company said it ended negotiations over a deal it had failed to agree terms on. The AIM-listed firm, focused on West Africa assets, said it was continuing to assess alternative opportunities and will update the market according

15 Feb 2013 09:33

Forte Energy secures financing deal

Forte Energy has entered into a 10m-pound equity financing facility (EFF) with Darwin Strategic, an arm of fund manager Henderson Global Volantis Capital. Managing Director of Forte Energy, Marc Reilly, said the facility would give the company access to much needed cost effective financing. "The E

11 Feb 2013 10:41

Forte Energy: Negotiations continuing over 'potentially significant transaction'

AIM-listed Australian-based minerals company Forte Energy has advised that negotiations are 'continuing in relation to a potentially significant transaction'. The company stated that it would provide a further update "as soon as the terms of any transaction are agreed". The news comes almost two

5 Feb 2013 11:07

Forte says 'advanced negotiations are continuing'

Dual-listed Forte Energy has reported that 'advanced negotiations are continuing on a number of different transactions'. The AIM-listed Australian-based minerals company, which announced that its trading halted on the Australian Stock Exchange on February 1st, did not disclose any further informati

1 Feb 2013 13:01

Forte Energy halts trading on ASX

Forte Energy, an AIM-listed uranium company, has halted trading of its shares on the the Australian Securities Exchange (ASX) ahead of an announcement relating to a potential asset acquisition. The suspension is expected to last no more than two business days. Trading will continue on AIM during t

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