Member Info for LesBoy

Amaroq Minerals, which holds the most exploration licenses in Greenland, is a key player in the country’s recent critical minerals resource boom. Greenland now rivals China as the planet’s main source for rare minerals essential for green technologies.

Extractive industries that embrace such tree-planting schemes may do so because they are keen to show their green credentials by “offsetting” their extraction plans. Amaroq, however, is keen to point out that it “currently has no plans on accounting for any sequestration on carbon offset”.

Though Amaroq was not involved in the initial set up of the arboretum, by funding tree plantations it is joining Greenland’s 1,000-year experiment in deliberately greening the land.

https://theconversation.com/greenland-is-getting-greener-helped-by-a-mining-company-and-a-group-of-tree-enthusiasts-244606?utm_medium=email&utm_campaign=Latest%20from%20The%20Conversation%20for%20December%206%202024%20-%203192132553&utm_content=Latest%20from%20The%20Conversation%20for%20December%206%202024%20-%203192132553+CID_61fd3ddfa006e43ead1b60b35197e522&utm_source=campaign_monitor_uk&utm_term=Greenland%20is%20getting%20greener%20%20helped%20by%20a%20mining%20company%20and%20a%20group%20of%20tree%20enthusiasts

Canadian miner Teck Resources, which produces germanium as a byproduct at its Red Dog zinc mine in Alaska and is the only supplier of the metal in North America, told Reuters it was studying whether to boost output of the critical material there now that China has blocked exports to the United States.

China’s export squeeze has triggered a surge in prices for many strategic minerals.

https://www.mining.com/web/rattled-by-china-west-scrambles-to-rejig-critical-minerals-supply-chains/

BAE Systems to make 165 tanks as era of peace fades.

Defence contractor signs deals with Denmark and Sweden worth £2.5 billion as president-elect Trump threatens to withdraw US security guarantees from Nato allies.

Britain’s largest listed defence contractor has signed contracts worth $2.5 billion with Sweden and Denmark as European nations strengthen military spending amid mounting geopolitical tensions.

BAE Systems will provide 115 new CV90 armoured combat vehicles to Denmark, and another 50 to Sweden. The agreement, which covers spares, support, logistics and training, also includes an undisclosed number of vehicles financed by the two governments to support Ukraine’s forces.

Major General Peter Boysen, chief of the Royal Danish Army, said the 115 new vehicles will “significantly enhance Denmark’s contribution to collective security and international operations providing us with substantial strength”.

Tommy Gustafsson-Rask, managing director of BAE’s Hägglunds division, which designs and produces the CV90, said the tanks would “extend the capabilities of the armed forces of Sweden and Denmark. They will also provide their crews with improved situational awareness and increased mobility, protection, and lethality”.

The multibillion-dollar order comes as European countries ramp up defence capabilities in response to Russia’s war on Ukraine and in preparation for Donald Trump’s threat to withdraw US security guarantees from Nato allies that have not met a target of spending at least 2 per cent of their GDP on defence.

While on the campaign trail, the president-elect said he told the leader of an unspecified Nato country that the US would “absolutely not” protect countries that do not pay their “fair share”.

New figures from the European Defence Agency show EU member states spent a combined €279 billion on military forces in 2023, a 10 per cent increase on the previous year with 2024 expected to hit €326 billion.

Jamie Murray, an equity analyst at Shore Capital, said stockpiles of conventional weapons had been depleted in recent years by a combination of the “peace dividend”, which has driven post-Cold War investment away from conventional weapons, and having sent equipment to Ukraine.

He added: “The contract is further evidence that Europe is increasing defence spending, which is a trend we have seen over the last few years and is expected to continue over the medium term.”

https://www.thetimes.com/article/bae-systems-to-supply-tanks-to-denmark-and-sweden-n03fsp8sp

BAE Systems has been awarded a £4.8 million contract by the U.S. Defense Advanced Research Projects Agency (DARPA) to develop tools aimed at improving the security and reliability of software systems used by the Department of Defense (DoD).

The contract is part of DARPA’s Pipelined Reasoning of Verifiers Enabling Robust Systems (PROVERS) programme, designed to enhance the accessibility and scalability of software verification methods.

The effort seeks to address longstanding challenges with formal methods tools, which use mathematical proofs to ensure software properties are reliable and secure. While effective, these tools are often complex, time-intensive, and require expert knowledge. They also need significant rewriting each time code or system specifications change, limiting their scalability in real-world defence applications.

Daniel Mitchell, technical manager at BAE Systems, highlighted the potential impact of the programme:

“Engineering practices for software-reliant systems continuously evolve, and so too must the assurance techniques that confirm systems’ correctness and security. With PROVERS, proof engineering will create higher levels of assurance – helping critical Department of Defense software systems remain free of certain defects and vulnerabilities.”

The PROVERS programme, say BAE, aims to make formal verification methods more accessible to traditional software developers and systems engineers, integrating them seamlessly into existing processes. Under the contract, BAE Systems will demonstrate how these tools can be applied to DoD systems and provide feedback to developers on improving their usability and relevance for defence applications.

The work will be carried out at BAE Systems’ facilities in Merrimack, New Hampshire; Burlington, Massachusetts; and Arlington, Virginia.

https://ukdefencejournal.org.uk/bae-systems-secures-4-8m-darpa-contract/

From The Armchair Trader:

Profits soar at easyJet

Full year numbers are out from easyJet LON:EZJ this morning with a 34% increase in profitability following another record summer season. The holidays division performed even better, with a contribution of £190m pre-tax profit, up 56% YoY, whilst the marked uplift in per seat profits is seeing the company close in on its £7-£10 target. Available Seat Kilometres (ASK) will grow 8% in the new financial year as a result of longer average sectors and the outlook is optimistic despite a reduction in planned aircraft deliveries in the mid-term.

Cheers, Crossley.

... with a strong message for a bright future for us all.

Thanks, pappalazz.

... but mostly very small numbers.

Any idea why this could be?

Peel Hunt initiated coverage on Avacta on Thursday with a ‘buy’ rating and 99p price target as it pointed out three key aspects of the investment case.

Firstly, it argued that Avacta’s pre|CISION and Affimer technology platforms have the ability to create the next generation chemotherapies.

It said they create drug conjugates, which reduce the current side effects of current cancer treatments, meaning the current therapies could replace them in the standard-of-care pathway.

Secondly, it said that clinical data from the lead asset AVA6000 looks very promising. Peel Hunt said it’s currently in a phase I trial and has been able to reduce side effects such a cardiac and bone marrow toxicity in comparison to doxorubicin, which is the standard-of-care chemotherapy.

"We forecast that AVA6000 should reach commercialisation in FY28E, and use the revenue streams FOR AVA6000 in soft tissue sarcoma and salivary gland cancer indications initially, with breast cancer sales beginning in 2030E, to reach our risk-adjusted NPV valuation for the therapeutics division," it said.

Lastly, Peel Hunt said that as Avacta moves to become a pureplay oncology biotech, it expects the company to divest its diagnostics division and models a base case expectation of a 0.75x revenue multiple, valuing the diagnostics business at around £20m, but can see a bull case valuation of around 54m.

Midas -21 November 2024:

Marks & Spencer has spent nearly 100 years on the stock market, and remains a popular share to this day. Most quoted companies attract some individual shareholders. M&S has more than most.

Not only does the retailer boast around 145,000 investors but many are deeply engaged with the business, in good times and in bad.

The shares topped £7 in 2007. But in little more than a year, they had tumbled to less than £2. Its fortunes waxed and waned thereafter, as consumers and investors fell out of love with M&S.

Now, chairman Archie Norman and chief executive Stuart Machin are turning the business around.

Six-month figures to September, revealed just a fortnight ago, showed a 6 per cent uplift in sales to £6.5billion and a 17 per cent surge in profits to more than £400million, far better than brokers expected.

Not one to sit on his laurels, Machin believes there are big opportunities to do better. And he also seems to recognise the contribution that individual investors make.

The company set up a Shareholder Panel in 2016. Under Machin, discussions between investors and management have become more frequent.

Shares have sparkled since he was appointed, soaring almost four-fold in little more than two years to £3.72.

But Chancellor Rachel Reeves’s decision to raise National Insurance contributions from employers is unwelcome. Machin, however, has plenty of self-help measures to pursue, which should ensure continued growth.

A payment of around 5p is expected for the year to next March, rising to more than 6p a share the year after. Investors who have seen their holdings surge may be tempted to sell some stock and splurge on Christmas goodies, perhaps even at M&S. But they should not sell out completely as these shares should continue to motor.

BrokenBanker‬ ‪@brokenbanker.bsky.social‬

·

5d

#VLX.L

Volex (electrical components, mkt cap £624mn) announce both a strong Q3 and also a possible offer for TT Electronics (

#TTG.L

) at a 72% premium, comprised of cash and shares. this is not as expensive as it looks, given the collapse in TT's share price since September:

Proactive 15:53 18 Nov 2024 GMT:

Ariana Resources PLC's (AIM:AAU) comment that its partners in the Zenit consortium in Turkiye [Proccea and Ozaltin] have started a project assessment study on the Dokwe gold project in Zimbabwe was an intriguing line, according to broker Panmure Liberum.

Ostensibly, the update was about the Zenit consortium’s operations in Turkiye but any involvement in Dokwe would substantially boost its development prognosis.

Last week, on its own, Ariana raised US$5 million for work at Dokwe through a loan from Riverfort but the financial firepower of Zenit has already been demonstrated In Turkiye.

Earlier this year, Zenit secured a favourable US$20 million credit agreement with Turkey’s largest bank for the under-construction Tavsan mine.

Ariana had already credited “the strength of partner” Ozaltin as being key to obtaining the loan, adding that “such strong banking relationships bode well for the development of [Ariana’s] future project pipeline.

This means not only in Turkey but potentially also for Ariana’s newly-acquired, transformational 100%-owned Dokwe gold project in Zimbabwe, the broker suggested.

In the statement today, Ariana added the Zenit group was looking to expand its areas of operation and teams from the group visited the Dokwe project in October.

Ariana is working on a feasibility study at Dokwe and targeting a resource of at least two million ounces of gold though, eventually, it might become a multi-million-ounce project given camp-scale potential in the wider area

Panmure Liberum explains that with many Archaean greenstone belt terranes, major gold deposits tend to occur as clusters within multi-million ounce ‘camps’, usually along crustal-scale shear zones.

“All these elements are present in the Dokwe region, including several untested gold-in-soil anomalies, it adds.

Pit optimisations run earlier in the year at a US$2,000/oz gold price resulted in a 16% increase in higher confidence in pit Measured & Indicated (M&I) ounces to 1.27Moz gold at1.33g/t g/t though the overall resource was unchanged.

Ariana said at the time that the enlarged in-pit resources should allow the examination of an expanded mining scenario of 75-100koz/year over 10-15 years as part of Dokwe’s Definitive Feasibility Study (DFS).

Panmure says this should result in improved returns over the revised Pre-Feasibility Study (PFS) economic model from May, which had assumed 60koz/year over 12 years, yielding post-tax NPV10% of US$160m and IRR of 41% at a US$2,000/oz gold price.

Meanwhile, in Turkiye, Tavsan’s construction remains on track for the first heap-leached gold production in early 2025 while at the current gold price (US$2,665/oz] Kiziltepe is still making good money said the update.

Amaroq Minerals Announces Key Agreements in Preparation for Gold Production in Nalunaq

15/11/2024 7:00am

UK Regulatory

Amaroq Minerals (LSE:AMRQ)

Intraday Stock Chart

Friday 15 November 2024

Click Here for more Amaroq Minerals Charts.Amaroq Minerals Announces Key Agreements in Preparation for Gold Production in Nalunaq

Reykjavík, Nov. 15, 2024 (GLOBE NEWSWIRE) -- (“Amaroq” or the “Company”)

Amaroq Minerals Announces Key Agreements in

Preparation for Gold Production in Nalunaq

TORONTO, ONTARIO – November 15, 2024 – Amaroq Minerals Ltd. (AIM, TSXV, NASDAQ Iceland: AMRQ), an independent mine development company with a substantial land package of gold and strategic mineral assets in Southern Greenland, is pleased to announce several significant agreements in connection with the expected start of gold production at Nalunaq. These agreements mark a significant step as the Company prepares for its first gold pour in Q4 2024.

Amaroq has entered into an offtake agreement with Auramet International, Inc. (“Auramet”), whereby Auramet will purchase all of the gold produced from Amaroq’s Nalunaq gold mine in South Greenland. Auramet also offers various financing facilities, such as pre-export finance, which could add to Amaroq’s financial flexibility to advance its operations.

In addition, Amaroq has secured an agreement with Metalor Technologies SA (“Metalor”), which specializes in the evaluation and refining of precious metals at its refinery located in Switzerland. Metalor will process all the doré alloy obtained from Nalunaq.

Ellert Arnarson, CFO of Amaroq, commented:

"We are pleased to have signed these important agreements with established partners in the industry, providing us with the necessary support and expertise to ensure the successful delivery and sale of gold produced from Nalunaq at competitive industry terms. Importantly, we are also committed to offering local people the opportunity to buy gold sourced from Nalunaq, and will be partnering with a UK refinery to enable us to do so. We look forward to a productive collaboration as we approach first gold and beyond."

Simon Thompson: The insurance investment company has just banked a huge profit and its other holdings are looking like they’ll provide a similar return.

It has sold an investment for 71 times the cost and there is material value in other holdings, too.

12.1 per cent shareholder return for half-year

Record NAV of £252.9mn (690p)

Post period end disposal boosts net cash to £87.5mn

Conservatively valued portfolio offers valuation upside

Dividend hiked again

im-traded insurance sector investment company BP Marsh & Partners (BPM:605p) has announced bumper interim results and a post-period-end disposal that has delivered an eye-watering return.

In the six months to 31 July 2024, the shrewdly run company increased net asset value (NAV) by 10.3 per cent to £253mn (690.8p) and generated a total shareholder return of 12.1 per cent.

From Simply Wall St:

The 2 analysts covering Greatland Gold previously expected the company to break even in 2026.

New consensus forecast suggests losses will reduce by 41% to 2024.

The company is expected to make a profit of UK£49.0m in 2025.

Average annual earnings growth of 45% is required to achieve expected profit on schedule.

https://simplywall.st/stocks/gb/materials/aim-ggp/greatland-gold-shares/future?utm_source=braze&utm_medium=email&utm_campaign=Critical+Updates:+Daily+Batch&utm_content=Variant+1

I neither believe nor disbelieve any of this... posting just for interest:

Simply Wall Street:

Down from UK£0.15, the current price target is an average from 3 analysts.

New target price is 87% above last closing price of UK£0.066.

Stock is down 11% over the past year.

The company is forecast to post a net loss per share of UK£0.001 next year compared to a net loss per share of UK£0.0044 last year.

https://simplywall.st/stocks/gb/materials/aim-ggp/greatland-gold-shares?utm_source=braze&utm_medium=email&utm_campaign=Critical+Updates%3A+Daily+Batch&utm_content=Variant+1

I see; thanks very much.

Albeit slightly... whereas in the early afternoon therer were twice as many buys as sells.

I wonder why?

Régis Schultz, Chief Executive Officer of JD Sports Fashion Plc, said:

"We have today reported record interim results with Group revenue of £5.0bn, and Profit before tax and adjusting items of £405.6m, underscoring our ability to outperform the sector in a volatile global marketplace. Our success is a direct reflection of the strength and agility of our global, multi-brand strategy, which allows us to adapt swiftly to fast-changing industry trends across the world, and our operational excellence. This ensures we continue to deliver an industry-leading customer proposition both in store and online.

"Organic sales growth in the first half was 6.4% and our underlying operating margins were in line with last year, notwithstanding continued cost investment in our long-term growth. We are reiterating our previous Profit before tax and adjusting items guidance range of £955-1,035m.

"Our acquisition of Hibbett, Inc., which completed just before the period end, is a key milestone in our international development and advances the global nature of the Group through our strengthened position in the US. I remain confident in the delivery of our exciting growth plans for North America and that the Group is well positioned to continue growing share in the world's largest sportswear market.

"I am very proud of our teams across the globe, whose dedication and hard work have been instrumental in achieving these results. Our strong business model and clear strategy position us to deliver long-term growth and value creation for our shareholders."