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Strategic Natural Resources in talks with potential investor

Fri, 28th Mar 2014 14:44

South African miner Strategic Natural Resources (SNR) is in talks with a potential financial saviour only a day after saying it had received a winding-up order.SNR, which owns 74% of Elitheni Coal, said it was in ongoing talks with a potential "strategic investor group" about potential funding."Whilst there can be no guarantee these discussions will result in additional funding for the company, the directors of SNR are hopeful they will be able to announce a successful conclusion to these discussions in the near term," SNR said.On Thursday, SNR said lawyers for London Commodity Brokers (LCB) had filed a winding-up petition with the Companies Court in London, with a hearing due on May 12th.LCB was claiming about $1.15m linked to contractual arrangements put in place under the Trasteel off-take agreement, announced by the company in April 2011.Also on Thursday, SNR said Elitheni had received notice of a court order from creditor Thelo Rolling Stock Leasing which it believed effectively froze SNR's interest in Elitheni.SNR said on Friday that if the funding talks with the potential investor failed, it would have to take steps to protect the interests of the company's creditors. "Further announcements will be made in due course," it added.After falling by nearly half on Thursday, SNR's shares bounced back 1.6p or 54.2% to 4.6p at 15:05 in London on Friday.PW
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17 Sep 2014 12:34

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23 Jul 2014 17:28

Strategic Natural Resources Is To Be Delisted

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21 Jul 2014 11:46

Strategic Natural Pulls Out Of Investment In Millennium Energy

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7 Jul 2014 14:53

Strategic Natural Resources Chairman, CEO Alexander MacDonald Resigns

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1 Jul 2014 09:58

Strategic Natural Reviews Elitheni, Receives Subscription Offer For GBP1.2 Million

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16 Jun 2014 11:28

Winding Up Petition Against Strategic Natural Resources Dismissed

LONDON (Alliance News) - Shares in Strategic Natural Resources PLC surged by more than a quarter Monday, after it said that the winding-up petition filed by London Commodity Brokers has been dismissed, following its settlement of the agreed amounts due. Strategic Natural Resources shares w

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13 May 2014 13:11

UK MIDDAY BRIEFING: AstraZeneca Continues To Reject Pfizer

LONDON (Alliance News) - AstraZeneca Tuesday again rejected Pfizer's "opportunistic" GBP63 million takeover approach, as UK politicians grilled executives of both companies about the potential deal and what it will mean for the UK's pharmaceutical industry.

Cruciall

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13 May 2014 11:09

UK WINNERS & LOSERS: easyJet, TUI Travel Lower As Housebuilders Rise

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Tuesday.
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FTSE 100 - WINNERS
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Barratt Developments, up 3.1%, and Persimmon, up 2.1%. The housebuilders have

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13 May 2014 10:33

Strategic Natural Resources Gets Some Of The Funding It Needs

LONDON (Alliance News) - Strategic Natural Resources saw its shares fall Tuesday after the company said it had secured an investment of GBP1.5 million in the company, secured a deal to pay off at least one creditor, and said it will appoint several new executives to run the company. The mon

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12 May 2014 11:59

UK MIDDAY BRIEFING: BSkyB Confirms Talks To Buy Sky Italia, Deutschland

LONDON (Alliance News) - British Sky Broadcasting confirmed Monday that it is working on the potential acquisition of 21st Century Fox's interests in Sky Deutschland and Sky Italia.

Bloomberg, citing people familiar with the matter, reported that talks about the pot

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12 May 2014 11:13

UK WINNERS & LOSERS: Mining Stocks Rise; BSkyB Falls Sharply

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Monday. ------- FTSE 100 - WINNERS ------- Rio Tinto, up 3.6%, BHP Billiton, up 2.4%, Antofagasta, up 2.4%, Anglo American, up 1.6%, and Glencore Xstrata,

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12 May 2014 10:11

Strategic Natural Resources' Winding Up Hearing Adjourned ForWeek

LONDON (Alliance News) - Strategic Natural Resources PLC said it has agreed with London Commodity Brokers to adjourn its winding up hearing, which was supposed to take place Monday, for one week. The natural resources development company said it continues to hold discussions with London Com

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12 May 2014 07:29

UK MORNING BRIEFING: BSkyB Confirms Deutschland, Italia Merger Talks

LONDON (Alliance News) - UK shares have opened cautiously higher Monday, amid a lack of economic data and with a wary eye on developments in Ukraine.

BSkyB confirmed press reports that has approached its major shareholder 21st Century Fox about buying Sky Deutschlan

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25 Apr 2014 15:37

Strategic Natural Subsidiary Concludes Arbitration With Creditors

LONDON (Alliance News) - Strategic Natural Resources PLC Friday said that its subsidiary Elitheni Coal Ltd has ended arbitration proceedings with certain of its creditors, paying out ZAR5.4 million plus costs of ZAR600,000. The natural resources development company said the payment was less

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31 Mar 2014 14:44

Strategic Natural Resources Pretax Loss Widens; Discussions For New Funding Continue

LONDON (Alliance News) - Strategic Natural Resources PLC said Monday its pretax loss widened during the half-year as it reported the business's first revenues, though warned that if it cannot secure new funding sources soon, its shares may be suspended. In its interim results for the six mo

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