Less Ads, More Data, More Tools Register for FREE

Pin to quick picksNyota Minerals Share News (NYO)

  • There is currently no data for NYO

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Nyota Minerals evaluating new assets after Tulu Kapi sell-down

Fri, 14th Mar 2014 13:13

Ethiopia-focused gold miner Nyota Minerals said it is looking to evaluate new assets to add to its portfolio after selling off the bulk of its stake in the Tulu Kapi Gold Project during the first half.Nyota sold 75% of its Ethiopian subsidiary, which owns Tulu Kapi, to AIM-listed KEFI Minerals for £1m in cash and shares. Along with a retained 25% direct interest in Tulu Kapi, the share portion of the deal gave Nyota a 12.5% stake in KEFI, lifting its exposure to the gold project to 34% and also giving it access to the rest of KEFI's portfolio, which includes gold assets in the Kingdom of Saudi Arabia.The 25% direct interest in Tulu Kapi requires it to share in the project's spending. However, it is not required to do so and the stake can be diluted accordingly.Nyota also wholly owns licences in the Northern Blocks in Ethiopia, 100km north of Tulu Kapi, and has appointed SRK Exploration Services to conduct a competent person's review."This marks an exciting acceleration in activity at the licences, and accordingly this area is anticipated to be a significant source for future Nyota news flow in the near term," said Chief Executive Richard Chase.Nyota reported a loss before tax of $3.07m for the six months ended December 31st, down slightly from the $3.43m loss the year before."On a corporate level, with the sale of a majority interest in Tulu Kapi now complete, the board is now in a position to also focus on the evaluation of new assets which have the potential to enhance the value of Nyota's portfolio," Chase said.BC
More News
18 Mar 2014 13:09

UK MIDDAY BRIEFING: Sainsbury's Sales Slow But Won't Join Price War

LONDON (Alliance News) - J Sainsbury PLC reported its first sales fall in nine years for the fourth quarter of its financial year, but Chief Executive Justin King said the grocer will not get caught up in the price war within the UK supermarket sector and will ensure competiti

Read more
18 Mar 2014 11:57

UK WINNERS & LOSERS: Cairn Energy Falls 12% As It Swings To Loss

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Tuesday.

-------

FTSE 100 - WINNERS

J Sainsbury, up 0.8%. The food retailer is the latest of the big UK supe

Read more
18 Mar 2014 09:33

Nyota Slides As Shareholders Also Reject Placing Facility Proposal

LONDON (Alliance News) - Nyota Minerals Ltd saw its shares fall sharply Tuesday after its shareholders voted against its remuneration plan and against its request to approve an additional 10% share placing facility. The gold explorer had said Monday that shareholders had passed a resolution

Read more
17 Mar 2014 17:43

UPDATE: Nyota Minerals Shareholders Vote Against Remuneration Plan

LONDON (Alliance News) - Nyota Minerals Ltd said Monday that two non-executive directors, Norman Ling and Neil Maclachlan, have retired from the board, as previously announced, while shareholders have vote against a remuneration plan. The gold exploration and development company said the de

Read more
17 Mar 2014 13:43

Nyota Minerals Announces Retirements, Shareholders Vote Against Remuneration Plan

LONDON (Alliance News) - Nyota Minerals Ltd said Monday, non-executive Directors Norman Ling and Neil Maclachlan have retired from the board, as previously announced, as shareholders vote against remuneration plan. The gold exploration and development company said the departures are integra

Read more
14 Mar 2014 12:58

Nyota Pretax Loss Narrows, But Needs New Funds

LONDON (Alliance News) - Nyota Minerals Ltd Friday said its pretax loss narrowed in the first half of its financial year as administrative expenses dropped significantly, but said it needs to raise new funds in the first half of 2014 for the development of its projects. The gold exploration

Read more
12 Mar 2014 13:31

UK MIDDAY BRIEFING: More Of The Same, Just Better From Pru

LONDON (Alliance News) - Prudential is the biggest gainer on the FTSE 100 Wednesday after the insurer's closely-watched operating profit grew by 17%, driven by its US and Asian operations, while G4S has plummeted after it reported a loss and finally settled wi

Read more
12 Mar 2014 11:12

UK WINNERS & LOSERS: Ex-Dividend Stocks Weigh On FTSE 100

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Wednesday.

-------

FTSE 100 - WINNERS

Prudential, up 4%. The group reported a sharp fall in 2013 pretax prof

Read more
12 Mar 2014 10:52

KEFI Minerals Increases Resources At Tulu Kapi In Ethiopa

LONDON (Alliance News) - KEFI Minerals PLC Wednesday said it has increased the total JORC compliant resources at its newly acquired Tulu Kapi project in Ethiopia. The gold and copper exploration and development company, with operations in Saudi Arabia and Ethiopia, updated its total indicat

Read more
24 Feb 2014 13:50

UK MIDDAY BRIEFING: RSA Insurance, HSBC Lead FTSE 100 Lower

LONDON (Alliance News) - RSA Insurance is leading the FTSE 100 lower Monday after the struggling insurer confirmed it is considering a number of measures to bolster its balance sheet, while HSBC Holdings is also down after its results missed market forecasts.<

Read more
24 Feb 2014 11:55

Nyota Minerals Develops New Strategy In Ethiopia

LONDON (Alliance News) - Nyota Minerals Ltd Monday developed a renewed strategy to focus on exploration, following the sale of a majority stake in its Tulu Kapi project in Ethiopia during December. The gold exploration and development company said its initial focus is exploration at its 100

Read more
24 Feb 2014 11:42

UK WINNERS & LOSERS: Dixons, Carphone Warehouse Rise On Merger Talks

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Monday.

-------

FTSE 100 - WINNERS

Vodafone Group, up 6%. Vodafone's shares have jumped after the 6-for-11 consolidation of i

Read more
5 Feb 2014 13:22

Nyota Minerals Pretax Loss Widens On Charge As It Restarts AIM Trading

LONDON (Alliance News) - Nyota Minerals Ltd Wednesday reported a large pretax loss for its last financial year, as the company booked a significant impairment charge as it moved towards the sale of a 75% stake in its flagship Tulu Kapi project in December. The gold exploration and developme

Read more
30 Dec 2013 10:50

Nyota Minerals Suspended After Shares Fly On KEFI Deal

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.