Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
CHINA: Huge increases in the price of a vital component in the production of HFCs could place further pressure on global refrigerant gas prices. The price of fluorspar, a mineral from which HFC component hydrofluoric acid is produced, has hit a four-year high in the home of the world�s largest producer, China. Fluorspar prices have risen by nearly 40% since February, leading to increases in China of around 60% in the price of R22 and R134a, a 130% increase in the price HFC component R125, and a massive 160% rise in the cost of R32. The increases are blamed on new environmental constraints in China on both fluorspar mining and in the production of hydrofluoric acid. Since the end of 2016 China�s environmental law enforcement efforts have been significantly strengthened. As a result, the production of products like hydrofluoric acid, a highly corrosive chemical, has come under new environmental protection and safety requirements. With China supplying over 50% of the world demand for fluorspar, the increases are likely to put further pressure on refrigerant prices, particularly in Europe where the HFC phase-down is already impacting high GWP gases.
Nice to see a TR1 in. The investors who are participating in the Placing (the �Placees�) are experienced in the natural resources sector and have indicated that they will work closely with the existing Board to establish the best way to exploit the significant coal resources at the Arckaringa project. Mr. Kloepper has worked in investment banking and structured finance throughout a 30 year career. He has held executive positions with JP Morgan, Citibank, Bank of America, and North American Trust, in Canada, the US and Europe. More upside to come from this company.
Cybersecurity Ventures projects $1 trillion will be spent globally on cybersecurity from 2017 to 2021.
Great pod cast, very happy with FLX, lots more to come yet
We recognised the need to dramatically increase client awareness of the value of managed Cyber Defence services, we also recognised the signs of a relatively young Cyber Security market where education and client-side advice were more effective than traditional sales strategies. The acquisition of Advanced Security Consulting as the trusted advisor to clients, providing practical, timely and cost effective solutions and guiding organisations to our managed service platform solved both of these issues. The result of this decision has been extremely pleasing. With a reorganised Group, increased revenue and reduced costs, the Board is very encouraged by the Group’s prospects for the coming year and expects to report very significant growth in Cyber Defence revenue for the first half of Financial Year 2016/17
Drop in sp to let buyers in.
Drop in sp to let buyers in.
7p paid now, and still moving.
The construction value of the project is £22 million, after which a 20 year operation and maintenance phase will commence. It will require unique innovative technology as there are two water systems in Gibraltar, one supplying drinking water and the other using sea water for all sanitary purposes. The saline sea water content of the waste water presents an additional challenge to the normal sewage treatment equipment and processes. Land availability for the treatment works is also limited with the works to be built on a small footprint and include utilising existing underground tunnels in the Rock. It will be completely enclosed and landscaped to visually enhance the local environment. Her Majesty’s Government of Gibraltar (HMGoG) has appointed a Joint Venture between Northumbrian Services Limited, part of Northumbrian Water Group (NWG),and UK-based Modern Water Services Limited (MWSL) as the preferred bidder.
Just over 32 to buy now.
Oil Discovery at 14/20-2 exploration well on the Isobel/Elaine Fan Complex Highlights · Oil discovery confirmed at Isobel Deep · Significant oil column of over 480 metres · Net oil pay 27m · No oil-water contacts or gas encountered · Four additional oil bearing F3 reservoirs Falkland Oil and Gas Limited (AIM:FOGL), the oil and gas exploration company focused on its extensive licence areas to the North, South and East of the Falklands Islands, is pleased to announce the successful results of the 14/20-2 exploration well on the Isobel/Elaine structure (The "Well"). This was a re-drill of the Isobel-1 (14/20-1) well, which discovered oil in the Isobel Deep reservoir but had to be prematurely abandoned for operational reasons. The Well is located on licence PL004a in which FOGL has a 40% working interest. This will increase to 64% following the merger with Rockhopper Exploration, which is expected to complete on the 18 January 2016. The Well successfully re-drilled the Isobel Deep reservoir at a location 4 kilometres west of the original Isobel-1 well and reached a total depth of 3014 metres. Although the Well was principally designed to re-drill the Isobel Deep sands, it was also able to test other sand bodies within the F3 sand system. The well successfully penetrated five separate fans within the complex, including: Isobel Deep, Isobel, Elaine South, Emily and Irene. All five of these fan systems were oil bearing and no gas was encountered. The well did not encounter an oil-water contact in any of the sands. The well discovered total net pay of 27m in the Isobel Deep, Isobel and Emily reservoirs. A very large oil column (in excess of 480 metres) has now been proven between from the crest of the structure to the current location. The location selected for the re-drill of Isobel Deep was not optimal for any of the other fans. As such, most of the fans were penetrated at their margins and FOGL expects that based on analogous systems, better quality reservoir will be present in the main bodies of the fans. Whilst the data acquired is still to be fully evaluated and integrated, the initial view of the Company is that the Isobel/Elaine complex is likely to contain commercially viable quantities of recoverable oil. The 14/20-2 well will now be plugged and abandoned.
LONDON (Alliance News) - Greka Drilling Ltd noted the sharp fall in its share price on Tuesday but said it is not aware of any reason for the movement. Greka shares were trading down 27% on Tuesday afternoon at 4.00 pence per share. Greka, which specialises in drilling unconventional gas prospects in China, said it will publish a full operations update in February. In the first six months of 2015, the company reported a pretax loss of USD626,000 compared to USD787,000 loss a year earlier despite revenue remaining broadly flat at USD2.7 million. Chairman Randeep Grewal said he was "quite pleased" with the results and was confident on the expansion of the company's client base. London-listed Green Dragon Gas Ltd uses LiFaBriC wells, which are wells drilled using a technique developed by Greka Drilling that has adapted the horizontal drilling methods traditionally used for drilling in coal seam reservoirs and is designed to provide a precise and high-quality completions' technique. It was designed specifically for Chinese geology.
On 30 November 2015, the Company announced that it had entered into an agreement to reschedule $57.1m of debt owing to Korea Zinc (the "KZ Agreement"). The terms of such agreement were set out in the announcement and included a condition set by Korea Zinc that the Company raise at least $5m (net of expenses) before 31 December 2015. Following intensive efforts over recent weeks to raise at least $5m before the end of the year, the Company announces that it has not been able to secure sufficient investors to fund this amount. Accordingly, under the terms of the KZ Agreement, the Company is obligated to transfer 90 per cent. of its interest in its wholly owned Korean subsidiary, ZincOx Korea Limited ("KRP" or "ZincOx Korea"), owner of the Korean recycling plant, to Korea Zinc, or, upon Korea Zinc's request, have KRP cancel all, or part, of the existing issued share capital of KRP, and issue and allot to Korea Zinc new shares in KRP through conversion of the outstanding loans into equity such that Korea Zinc owns 90 per cent. of KRP in each case for nil consideration (the "Disposal"). The Company will continue to retain a 10 per cent. interest in KRP. As announced on 30 November 2015, since the Disposal would constitute a "fundamental change of business" for the purposes of Rule 15 of the AIM Rules, in the event of an unsuccessful fundraising the Company sought, and was granted, approval by Shareholders for the Disposal at a General Meeting of the Company on 18 December 2015. The Disposal will now be formally effected during the course of January 2016. There will be no cash or other consideration receivable by the Company in respect of this Disposal. It has been agreed with Korea Zinc that ZincOx Korea's share structure will be reorganized so that 90 per cent. of the shares will be valued at the amount of the loans, which currently stand at US$57.1 million giving an imputed value for these purposes of US$63.4 million to ZincOx Korea. ZincOx Korea will, subject to the loans raised during the transition period as set out below, be debt free. The transfer is expected to take at least a month to complete and during this transition period ZincOx will continue to assist the operation, as required, on a day to day basis so as to enable a smooth transition into management by Korea Zinc. The KRP plant is currently closed to carry out a repair to the evaporative cooler and production is expected to resume on the 7th January. During the transition period, outstanding invoices owed by KRP for 2015, current remediation costs and operating losses are expected to amount to about US$3.4 million and this will be covered by Korea Zinc and be treated as a loan to KRP. There will be no recourse to the Company for this loan. In view of the current and negative short term outlook for the price of zinc, KRP may continue to suffer losses in the near term. If Korea Zin
rise is coming
under valued at 15million and sitting at 3.1 million now.
50,000 tonnes lower energy cost.
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What a shake that was, gave people chance to top up. Hope your filling your santa stockings up ;-)
2.10 just hit