TALV.L Share News (TALV)

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Talvivaara assessing all funding options after liquidity position deteriorates

Thu, 10th Oct 2013 08:46

Shares in Talvivaara Mining tumbled by a fifth after the Finnish miner said it was assessing all available options for additional funding after its liquidity position weakened more than expected.The company once lauded for its pioneering metals extraction process known as bioheapleaching has been rocked by a series of waste water leaks.It said that excess water in its older heaps had continued to dilute metal grades in the leach solution throughout the third quarter while the market environment had remained challenging due to the weak nickel price.Chief Executive Officer Pekka Pera said: "Despite our intensive efforts to revive the older heaps from the effects of excess water, we have only achieved moderate success which in turn has limited our production volumes through the year. "This together with the weak nickel price has impacted our liquidity position more than anticipated and in order to secure sufficient financial flexibility and liquidity going forward, we are now assessing all available options for additional funding."Talvivaara has been cutting its headcount to save money. It shed 68 members of staff through redundancy and retirement and reduced the headcount by a further 96 through not renewing temporary contracts.Shares in the company were down 20% to 6.85p.TB

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4 Jul 2014 15:48

Sector movers: Evraz lifts industrial metals higher

A surge in the share price of steel group Evraz helped the industrial metal and mining sector to the top of the pile on an otherwise quiet trading session in London. While markets were subdued on the whole, with analysts citing low volumes due to a public holiday in the States, Evraz shares were 5.

13 Jun 2014 14:54

Talvivaara To Delist In London, Remain On Helsinki Exchange

LONDON (Alliance News) - Talvivaara Mining Company PLC Friday said it plans to cease trading on the Main Market of the London Stock Exchange as it seeks to reduce the costs associated with the listing. Talviaara said there is no significant benefit in maintaining its London listing, given t

28 May 2014 07:13

Talvivaara Mining Pretax Loss Narrows

LONDON (Alliance News) - Talvivaara Mining Company PLC Wednesday reported that its first-quarter loss before income tax narrowed to 17.12 million euros from 31.73 million euros in the prior year quarter. Loss attributable to owners of the parent narrowed to 14.57 million euros from 21.01 m

21 May 2014 13:04

Talvivaara Mining Granted Deadline Extension For Reorganisation

LONDON (Alliance News) - Talvivaara Mining PLC Wednesday said it has been granted a deadline extension for submitting its proposals for its reorganisation programme. In a statement, the base metal producer with operations in Finland said it has been granted a deadline extension by the Dist

14 May 2014 08:09

UPDATE 1-Talvivaara plans to delist from London bourse

(Adds comment, background) HELSINKI, May 14 (Reuters) - Troubled Finnish nickel miner Talvivaara plans to delist its shares from the London Stock Exchange, leaving its only listing in Helsinki, in a bid to cut costs. Hurt by falling nickel prices and repeated production disruptions,

14 May 2014 06:10

Talvivaara plans to delist from London bourse

HELSINKI, May 14 (Reuters) - Troubled Finnish nickel miner Talvivaara plans to delist its shares from the London Stock Exchange, leaving its only listing in Helsinki, in a bid to cut costs. The firm said the London delisting, if approved at its shareholder meeting next month, would take ef

29 Apr 2014 05:17