Metals Exploration Share News (MTL)

Dow Jones smallcap news is now on Twitter, allowing you to catch up on the news away from your desk. Go to http://twitter.com/DJ_UK_Smallcaps HMV GROUP PLC (HMV.LN), a U.K. entertainment retailer, said Friday it has completed the refinancing of its GBP240 million revolving credit facility with its existing group of eight banks a year ahead of schedule. HMV's existing facility was due to expire in October 2011. At 1052 GMT, shares +1 pence or 1.7% at 60.75 pence. BEAZLEY PLC (BEZ.LN), a Lloyd's of London insurer, is keeping a cautious outlook on recession-related claims on professional indemnity cover, Chief Executive Andrew Horton said, despite recent falls in claims levels on some lines of business. "The view of some insurers seems to be that recession-related claims won't come through," Horton said, adding that this was leading to high levels of competition in some lines and lower insurance rates. "Our view is that it takes a bit longer to see if the professional indemnity claims are going to come," he added. At 1052 GMT, shares +0.3 pence or 0.3% at 122.3 pence. FULLER, SMITH & TURNER PLC (FSTA.LN), a pub and brewery group, announced a solid start to the 2011 fiscal year, as people flocked to its beer gardens to enjoy a drink and food outside in the sunshine. The firm said sales at its managed pubs and hotels open more than a year rose 4.1% in the 16 weeks to July 17, with comparable profits at its tenanted pubs climbing 1%. Sales of its own-brewed beer fell 2%. At 1052 GMT, shares +8.5 pence or 1.5% at 559.5 pence. CLOSE BROTHERS GROUP PLC (CBG.LN), a financial services firm, said it was confident of solid performance for its fiscal 2010, reflecting better-than-expected loan growth and an improvement in its bad debt ratio. The firm warned bad debts are still sensitive to the economic environment, adding that its loan book totaled GBP2.9 billion at June 30, up from GBP2.6 billion at the end of January, with good organic growth from its asset finance unit as well as its motor and premium finance divisions. At 1052 GMT, shares -21.5 pence or 3% at 689 pence. SALAMANDER ENERGY PLC (SMDR.LN), an oil and gas firm, said it didn't find any oil at an exploration well offshore Vietnam, marking another setback in its drilling campaign. Salamander said it plugged and abandoned the Tom Hum Xanh-1X well as a dry hole after drilling to more than 2,000 meters without finding any hydrocarbons. Salamander said the next stage of its drilling campaign will be at the Kutei basin, offshore Indonesia. At 1052 GMT, shares -1.9 pence or 0.9% at 222.1 pence. METALS EXPLORATION PLC (MTL.LN), a gold and molybdenum miner, received a takeover offer from property tycoon Christian Candy pitched at GBP35.8 million. Candy's investment vehicle Solomon Capital offered 13 pence a share to acquire Metals Exporation, a 27% premium to the company's closing price Thursday. Metals Exploration said it is considering the offer and will respond shortly. At 1053 GMT, shares +2.75 pence or 27% at 13 pence. W.H. IRELAND GROUP PLC (WHI.LN), a stockbroker, swung to a first-half pretax loss as revenue was hit by the loss of a major client, but said it is better positioned for difficult markets following its restructuring, and named Paul Compton as its new chief executive. At 1053 GMT, shares +1.3 pence or 3.4% at 38 pence. DIGITAL BARRIERS PLC (DGB.LN), a security services company, said it has bought a division of security services company Overtis Group Ltd. for GBP3.2 million in cash. At 1053 GMT, shares +2.5 pence or 1.9% at 137.5 pence. EBIQUITY PLC (EBQ.LN), a media consultancy, reported a sharp fall in fiscal-year profit due to acquisition costs, and said it is poised to benefit from companies' increasing scrutiny of their own marketing efforts. At 1053 GMT, shares +1.5 pence or 2.5% at 61 pence. DJ UK Smaller Cos +0.3% AIM +0.4% -By Rachael Gormley, Jason Douglas & Hannah Benjamin, Dow Jones Newswires; +44 (0) 20 7842 9272; uksmallcaps@dowjones.com (END) Dow Jones Newswires July 23, 2010 07:30 ET (11:30 GMT)