Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
John Teeling, Chairman, commented: "There is no certainty in exploration. What lies under the ground is always unknown until drilled but the results from the work done by Botswana Diamonds and our partner in the past year are promising. Analysing the vast geological database compiled by Botswana Diamonds' geologists and using our partner's unique techniques, we have identified 13 sites ranging from 3 sq km to almost 50 sq km, which we believe are likely to contain diamondiferous kimberlites. This enables tightly focused financially efficient exploration in small areas. We have applied for licences on available ground. "The good results from this stage of exploration have led the partners to extend the technical agreement until mid 2014 in order to enable us to also study areas in the south of Botswana. We have sufficient funds to cover expected 2013 expenditure."
Earlier diamond discoveries in Botswana have been at or close to surface. It has long been believed that other kimberlites lie below the Kalahari sand and basalt which cover most of Botswana. Botswana Diamonds' partner has developed and refined exploration techniques which they have successfully used to discover buried kimberlitic pipes. Applying these techniques and using a geological data base compiled by Botswana Diamonds' geologists has identified 13 sites in the area northeast of the Orapa diamond cluster in Botswana. The targets range from a 3sq km to a 50sq km area. Once permission to explore in these areas has been obtained, a US$1 million exploration programme will commence which may involve all or some of the following: gravity, magnetic, electromagnetic surveys, systematic soil sampling and eventually drilling. We have budgeted to drill 40 holes. Following the success of the programme in the Orapa areas Botswana Diamonds has extended the Technical Cooperation Agreement until 30 June 2014 so that it can focus on the south and south east of the country. This means that there will be two separate programmes running simultaneously: target identification and detailed exploration and drilling. Botswana Diamonds is funded for forecast expenditure in 2013.
Update on Botswana Exploration Positive Results from Technical Cooperation Agreement with Diamond Major Botswana Diamonds plc (AIM: BOD) ("Botswana Diamonds" or "the Company") is pleased to report positive results from its year-long Technical Cooperation Agreement with a major diamond multinational. 13 specific sites have been identified in the northeast area of Botswana which Botswana Diamonds and the Company's partner believe are highly prospective for diamondiferous kimberlites. Prospecting licence applications have been lodged over the relevant ground. An exploration programme of detailed soil sampling, ground magnetics, gravity and drilling is ready to proceed once licences are obtained. The Technical Agreement involves the use of exploration approaches developed by Botswana Diamonds' partner to identify kimberlite bodies lying below the Kalahari sand and basalt cover.
Commenting on the acquisition, Group Chief Executive, Geraint Anderson said: "This acquisition provides an opportunity to further strengthen our IMS division and brings with it world class customers in our target markets, many of whom we already work with. We continue to identify and evaluate potential acquisitions to enhance the development of our Sensors and Components divisions which supply leading manufacturers in the defence, aerospace, medical, transportation and industrial markets."
Acquisition of ACW Technology business TT electronics plc, a global provider of performance critical technology solutions to leading manufacturers, announces it has acquired the majority of the UK business and assets of ACW Technology Limited (in administration). The Group has also agreed the transfer of associated production from ACW Technology (Zhuhai) Limited to the TT electronics facility in Suzhou, China. The acquired business provides manufacturing services to leading global customers in the defence, aerospace and industrial markets and will be integrated into the Group's IMS division. It is expected to deliver incremental revenue in 2013 in excess of £25m and will be immediately earnings enhancing on an underlying basis. The Group has paid consideration of £3.1m, including the repayment of existing debt facilities, and will acquire net assets of c£3.8m. The Group expects to incur exceptional one-off restructuring costs of approximately £0.9m in 2012 and £1.1m in 2013 in connection with the acquisition.
Said Darwazah, CEO of Hikma, said, "Hikma is pleased to be bringing argatroban injection to market. Argatroban will expand our injectables product line and help to differentiate our product portfolio in the US." According to IMS Health, sales of argatroban injection were approximately $105 million for the 12 months ending October 2012. Hikma is marketing argatroban injection in 100mg/ml vials. Hikma's argatroban was developed through Hikma's partnership with the specialty pharmaceutical company, Exela Pharma Sciences, LLC.
Hikma launches argatroban injection London, 13 December 2012 - Hikma Pharmaceuticals PLC (LSE: HIK) (NASDAQ Dubai: HIK) ("Hikma"), the fast growing multinational pharmaceutical group, today announces the US launch of argatroban injection, following the approval of its New Drug Application (NDA) by the US Food and Drug Administration (FDA) earlier this year. Hikma's argatroban is indicated for the prophylaxis or treatment of thrombosis in adult patients with heparin-induced thrombocytopenia (HIT) and as an anticoagulant in adult patients with or at risk of HIT undergoing percutaneous coronary intervention (PCI).
Whitbread is benefiting from the woes of its rivals – and this should continue into next year, despite the challenging backdrop, as the company benefits from its “robust” business model. Nevertheless, it does need to execute on its expansion plans, both at home and abroad, without sacrificing the quality of its offering. With the above in mind, The Telegraph´s Questor team says that it has not looked at Whitbread shares since September 2010, when a buy was recommended at £15.02. They have since performed very well. Expansion plans should continue to boost operating profit, which has risen by almost 70% over the past five years. Trading on a 2013 earnings multiple of 16, falling to 15 next year and yielding a prospective 2.3%, the valuation looks pretty full, the newspaper adds. Indeed, the average price target of the 16 City analysts monitored by Bloomberg is £23.63, some 5% below the current price. Hold, Questor says.
BHP Billiton Chief Executive Petroleum, J Michael Yeager, said: "The Longford Gas Conditioning Plant is a necessary extension of Bass Strait infrastructure to enable valuable hydrocarbon liquids production and domestic gas supply for years to come." BHP Billiton and Esso Australia Resources Pty Ltd (operator) each have a 50 per cent interest in the Gippsland Basin Joint Venture. Further information on BHP Billiton can be found at: www.bhpbilliton.com.
LONGFORD GAS CONDITIONING PLANT PROJECT APPROVAL BHP Billiton today announced approval for a US$520 million (BHP Billiton share) investment in the Longford Gas Conditioning Plant (LGCP) Project as part of the Gippsland Basin Joint Venture located in Victoria, Australia. The LGCP will add carbon dioxide (CO2) removal capacity to the Longford Gas Plant which is necessary to condition production from the Turrum offshore development project. The LGCP will be designed to process approximately 400 million standard cubic feet of gas per day and will reduce the CO2 content of treated gas to less than three per cent. Saleable gas production will commence in calendar year 2016.
and great production update too
Nick Clarke, Chief Executive Officer commented: "The announcement of dividend payments totalling $9.5 million representing 7 pence per ordinary share reflects the transformation that has taken place in the Company's financial position over the past two years. This is a result of our commitment across the CAML Group to capital and operational cost discipline and a successful first eight months of copper production at Kounrad. The implementation of an annual dividend policy also reflects the importance the Company places on delivering meaningful cash returns to our shareholders and sustainable value creation."
Kounrad Production Update The initial Kounrad production target for 2012 was 5,000 tonnes of copper and this was increased to 5,750 tonnes in late September 2012 at the time of the Company's interim announcement. As at 12 December 2012, production reached 6,250 tonnes of which 5,863 tonnes has been delivered to customers through the Company's off-take arrangements with Traxys. A full year production update will be announced in January 2013.
Special Dividend The Company has also decided to pay a special dividend to its shareholders of $5.0 million to recognise the significant savings the Company has achieved in the construction and commissioning of the plant at Kounrad and the better than anticipated production levels achieved. This equates to 3.70 pence per ordinary share based on an exchange rate of £1 = $1.60. The ordinary shares will go ex-dividend on 16 January 2013 and the special dividend will be payable to all shareholders registered at the record date of 18 January 2013 and will be paid on 1 February 2013. The total dividends to be paid of $9.5million, 7 pence per ordinary share, enables CAML to return cash to its shareholders, whilst also enabling it to invest in the future growth of the business. The dividends have also been agreed after due consideration of the current and expected profitability of the business, the inherent volatility associated with the commodity markets and the funding requirements for a potential second 10,000 tonne per annum SX-EW plant at Kounrad.
Annual Dividends CAML is pleased to announce that it is adopting a dividend policy which will result in the Company paying annual dividends to its shareholders. The annual dividend will be calculated as a percentage of the attributable revenues earned from its SX-EW copper project at Kounrad, Kazakhstan and will be a minimum of 20% of such revenues. The payments will be will be made by means of an interim and final dividend subject to the Company's cash reserves providing a dividend cover of three times or greater. For 2012, due to the particularly strong cash-flows generated by the Kounrad project, the Company is targeting to distribute 30% of the attributable revenue. The Directors have therefore declared a maiden interim dividend for the year of $4.5 million. This equates to 3.30 pence per ordinary share based on an exchange rate of £1 = $1.60. The ordinary shares will go ex-dividend on 16 January 2013 and the interim dividend will be payable to all shareholders registered at the record date of 18 January 2013 and will be paid on 1 February 2013. The Company currently expects that it will be in a position to declare a final dividend for the year ending 31 December 2012 of a similar amount. This will be announced at the time of the Company's annual results for 2012, which are scheduled to be released by the end of March 2013.
CAML announces maiden dividends Highlights: · Annual dividend policy adopted o Maiden interim dividend of $4.5 million declared, equivalent to 3.30 pence per ordinary share o Final dividend of a similar amount currently expected to be declared in March 2013 o In addition, special dividend of $5.0 million declared, equivalent to 3.70 pence per ordinary share · Kounrad production exceeds 6,250 tonnes of copper in first eight months of production · Current CAML Group cash balance of $29.3 million