Member Info for mulledwine

http://www.investegate.co.uk/Article.aspx?id=201101260700110698A

Luis da Silva, Chief Executive of African Aura, commented: "The geology and extent of iron ore mineralisation within the initial 3km long Nkout centre area bodes very well for the future upside to be tested along the balance 8km of strike. The extensions east and west and further anomalies to the south will be part of a more aggressive drilling campaign in 2011. This should allow the pending resource estimate to be both increased and the resources category upgraded. The excellent drill results to date combined with the successful metallurgical testing bode very well for the potential of Nkout."

· Phase one programme of 4,191m of diamond drilling completed at Nkout Centre · Best results intersected include: o 92.5m of haematite dominant cap at 46.7% Fe (hole NKGS004) o 178m of magnetite BIF at 35.1% Fe (hole NKDD002) and o 100m of magnetite BIF at 38.1% Fe (hole NKDD009) · Maiden NI 43-101 compliant resource statement anticipated by early February 2011 · Intensive drill campaign of 24,000m planned for 2011

http://www.investegate.co.uk/Article.aspx?id=201101260700120824A

22% increase in gold production - nice

J.G. Cluff, Executive Chairman of Cluff Gold, commented: "2010 has been a year of solid growth built on strong fundamentals for Cluff Gold. We are proud to have achieved a significant milestone with our positive operational cash flow, which has allowed us to markedly strengthen our balance sheet. This cash generation is extremely important as we advance Baomahun towards production. Peter Spivey's appointment is a crucial one for the Company. Competition for executives of Peter's calibre and experience is intense and it is a tribute to the Company's potential that he has joined us."

HIGHLIGHTS · US$32m exploration programme for 2011 focused on both extending mine life and demonstrating sulphide potential at Kalsaka and Angovia; completion of the bankable feasibility study at Baomahun; and extending resource base along strike at Baomahun · Cash flow from continuing production will be used to fund and accelerate exploration programme · 22% increase in total annual production from both producing mines to over 94,000oz in 2010 · Strengthening of management team, with Peter Spivey appointed Chief Executive Officer from 1 January 2011, bringing a wealth of experience building and operating gold mines in Africa

Highlights For the year ended 30 September 2010 · Revenue £50.2 million (2009: £57.6 million, including £2.5 million from closed businesses) · Gross profit £14.0 million (2009: £16.8 million) · Administrative expenses down 17.3% to £11.9 million (2009: £14.4 million) · Profit before taxation (excluding amortisation and share based payment charges) £2.0 million (2009: 2.2 million) · Profit after tax £1.99 million (2009: £2.03 million) · Basic EPS of 2.15p before amortisation and share based payment charges (2009: 2.89p) · Net debt reduced from £3.4 million at September 2009 to £3.0 million at September 2010 · Cash generated from operations in the year was £2.4 million (2009: £3.2 million)

http://www.investegate.co.uk/Article.aspx?id=201101260700120822A

Petmin (LON:PTMN) (PTMN, 27.25p, ▼ (0.91%)) announce that they have entered into an agreement with Hummingbird and its wholly owned subsidiary Iron Bird Resources Inc, relating to the Mount Ginka licence for exploration of iron ore in Liberia. Under this agreement, Petmin will provide up to a total sum of US$2M for the exploration of the Mount Ginka licence area. I ron Bird will issue new shares equivalent to 15% of its issued share capital to Petmin for a consideration of US$500,000. This investment is conditional on the transfer of the Mount Ginka licence to Iron Bird. On successful completion of Phase 1 of the work programme, Petmin will invest a further US$1,500,000 in Iron Bird, to increase its shareholding to 50%.

Titan Wood, a wholly owned subsidiary of Accsys (AXS), the environmental science and wood technology company, has entered into a licence option agreement with a "major multinational corporation" in relation to the production and sale of Accoya using Titan Wood's proprietary acetylation technology. Under the agreement, Titan Wood has granted an exclusive option to enter into a licence agreement, pursuant to which rights over the technology may be granted in certain states within Europe. Accsys shares advanced 7p to 39p.

Shares in ACP Capital (APL) soared 0.25p to 2.25p after the group announced it was returning in excess of 4 million pounds to shareholders following the disposal of interests in Leasecom Group SAS, and plans to cancel admission of its shares to trading on AIM. The return of capital will be on 18th February 2011 to shareholders on the register on 4th February 2011. It added that, following the delisting, it expects to finalise its accounts and thereafter make arrangements to be liquidated.

Arbuthnot reiterated its"strong buy" rating for Ultimate Finance Group (UFG) with a 19p target price. The broker was encouraged by the trading update provided by the company that stated it had performed ahead of management expectations in the first half as demand for its services remained strong. What's more, Arbuthnot added, the integration of Ashley Commercial Finance is progressing well and cross-selling opportunities are continuing to validate the rationale behind the acquisition

Panmure Gordon switched its recommendation for De La Rue (DLAR), the security printer and papermaker group, from "hold" to "sell" with a reduced target price of 566p, down from 800p. Having approached the group over the weekend with a slightly improved verbal offer of 935p, Oberthur announced last night that it has decided not to proceed, having failed to obtain the backing of the De La Rue board. This leaves a situation still requiring clarity over current trading, and a stock the broker believes remains over valued given background fundamentals and the absence of any bid interest.

Evolution Securities issued a "neutral" rating for retailer Northern Foods (NFDS) with a 73p target price. Given the significant category overlap that would likely lead to value creation through meaningful cost savings and revenue synergies, the broker believes the industrial logic of a Greencore/Northern Foods tie-up appears to be higher than that of a Boparan's 2 Sisters/Northern Foods combination. However with Greencore's net debt/EBITDA at 2.3x, the company would likely need to undertake a substantial equity fundraising to finance a rival all cash bid. Evolution thinks this limits Greencore's ability to offer a significant premium to Boparan's bid

http://www.investegate.co.uk/Article.aspx?id=201101251434420600A

Managing Director, Geoff Davis commented: "It is pleasing to see the Company continuing to meet its forecasts and timeframes in terms of gold production and completion of expansion works to enhance the operation. The Board's decision to approve the construction of a new self-funded mill to increase production capacity at Co-O to 200,000 ounces per year is a major step forward in the Company's five year growth path. At the Co-O Mine, the Saga Shaft will significantly enhance the mine operations. The commencement of a Level 1 adit on the Royal Veins is an important step in opening-up the Royal and North Tinago veins for production in the future, and will provide additional development ore in the process. The encouraging drill results from the First Hit Vein at the Saugon Project add the potential for the development of an additional ore source. At the Bananghilig Project six rigs are now operational with two rigs commencing validation drilling of the current resource and four rigs undertaking extensional drilling. The Company is confident it can deliver on its production forecast for FY 2011."

OVERVIEW: Co-O MINE PRODUCTION & DEVELOPMENT § Board approval for construction of new Co-O plant with capacity for 200,000 ounces per year (750,000 tonnes per year) § Record quarterly production of 26,123 ounces at an average recovered grade of 13.09 g/t at cash cost of US$185 per ounce § Saga Shaft: collar completed and sinking of 3-compartment shaft has commenced. Headframe steel work is being erected § Royal Veins: New portal for 800 metre long Level 1 adit to the Tinago Shaft will commence in the last week of January 2011 Co-O MINE & REGIONAL DRILLING § Drilling is continuing with six surface rigs and four underground rigs. A fifth underground rig has been ordered. § Results include 1.00 metre at 76.51g/t gold, 1.00 metre at 69.90 g/t gold, 2.75 metres at 50.38g/t gold and 1.20 metres at 48.72g/t gold BANANGHILIG DEPOSIT § Extensional drilling is progressing with four rigs with two more to commence work on validation of the known resource SAUGON PROJECT § Drilling with three rigs continuing. Results include 2.15 metres at 13.30 g/t Au and 179 g/t Ag, 3.90 metres at 9.63 g/t Au and 125 g/t Ag, 3.35 metres at 11.71 g/t Au and 154 g/t Ag, 1.40 metres at 27.65 g/t Au and 398 g/t Ag FINANCIALS & CORPORATE § Total cash and gold on metal account at end of quarter approximately US$87.2 million § A maiden unfranked dividend of A$0.05 per share was paid to shareholders on 8 November 2010 § Medusa commenced trading on the Main Market of the London Stock Exchange on 28 October 2010.

http://www.investegate.co.uk/Article.aspx?id=201101250913530281A

Rotherham Metropolitan Borough Council has given Oak Holdings (OAH) notice that it intends to terminate the current development agreement relating to the YES Project after the property developer failed to secure funds needed to commence the development phase of the project. The agreement, which commenced in May 2003, will be terminated with effect from 31st January 2011