Member Info for mulledwine

Provision of a US$55m loan facility by an Indonesian bank Archipelago is pleased to announce a US$55m secured loan facility from a prominent Indonesian bank which will be used to complete construction of the Toka Tindung Gold Project ("the Project" in Sulawesi, Indonesia in which the Company has a 95% interest. The initial facility's agreement date is today and the key terms of the facility are as follows: · Maturity date of 9 months from the initial facility's agreement date; · An interest rate of 5.5% per annum with interest paid every 3 months; Upon maturity of the initial 9 month facility above, a second loan facility of US$55m will be available if required to, refinance the initial facility, the key terms of which are as follows: · Maturity date of 4 years after the agreement date of the second loan facility; · An interest rate of 5.75% per annum with interest paid every 3 months; Both loan facilities will have a facility fee and an administration fee payable within 5 days of the respective agreement date. Management are of the opinion that these terms are considered financially competitive and generally commensurate with industry loans of this type. Revenue protection is required in the form of put options intended to provide a floor price of circa US$900/oz for approximately 100,000 ounces of gold in total over the life of the loan. All of the Company's production will remain exposed to any increases in the gold price. The Toka Tindung Gold Project has a resource of 1.7 million ounces of which 1.1m will be minable by way of open pit mining. It will be in production by the end of March 2011 and is targeted to produce 110,000 ozs of gold equivalent in calendar year 2011, with an annual average production of 160,000 ozs of gold equivalent over the first 6 years of the initial 8 year project life. Mining has been underway since the third quarter of 2010 and the processing plant is nearing completion and undergoing pipe and cable installation. In addition the Company will spend US$30m, the majority of which will be funded from operational cash flow, on an exploration program to be undertaken over the next two years following up the Company's many prospective exploration targets.

http://www.investegate.co.uk/Article.aspx?id=201101120700053001Z

Johan Dippenaar, Chief Executive Officer, said: "The strong growth in revenue for the Period reflects the strength of the market and the positive rough diamond price environment, which is underpinned by continued growth in demand from emerging markets, particularly China and India, as well as by the steady recovery in the US market. Petra continues to invest in its operations and our core objective to double annual production to around 2.5 million carats by FY 2014 and to increase production further to over 3 million carats by 2019 remains firmly on track."

Production · Gross production of 582,102 carats (H1 FY 2010: 614,594 carats) · The decrease in production was due to the planned roll-out of the expansion programme at Williamson (down 59,050 carats on H1 FY 2010; there was no production from the main Williamson pit for the Period due to the closing of the production plant for refurbishment), coupled with the planned depletion of the high-grade optical sorting plant ("OSP") tailings resource at Cullinan during the preceding period (down 25,859 carats on H1 FY 2010), partially offset by increased production from the other operations (in total up 52,417 carats on H1 FY 2010) · Outlook for H2 FY 2011: o Steady state production expected across South African operations, augmented by increased production from Kimberley Underground o Limited production from the refurbished plant at Williamson during the fourth quarter of FY 2011 when commissioning will commence Corporate · US$83m debt facilities in place with IFC and RMB · Repayment in full of Al Rajhi Holdings W. L. L. ("Al Rajhi") loan (US$30.7 million) and accrued interest · Effective interest in Koffiefontein mine increased from 70% to 74% · Black Economic Empowerment ("BEE") partner introduced at Helam mine; ownership is now 74% Petra and 26% BEE partner; all Petra South African operations are fully compliant with BEE legislation

Highlights Sales · Gross mine revenue* up 44% to US$90.0 million (H1 FY 2010: US$62.4 million) · Group mine revenue* up 87% to US$90.0 million (H1 FY 2010: US$48.2 million) · Gross carats sold up 2% to 584,234 carats (H1 FY 2010: 572,227 carats) · Revenue growth due to increased production from South African operations and stronger rough diamond prices achieved during the Period

http://www.investegate.co.uk/Article.aspx?id=201101120700053010Z

Production and Oil Price Oil sales from the Patos-Marinza oilfield in Albania during the fourth quarter averaged 10,424 bopd compared to third quarter sales of 9,826 bopd, an increase of 6%. Average production for the fourth quarter was 10,838 bopd and oil inventory on December 31, 2010 was approximately 145,000 barrels. The exit production rate for 2010 exceeded 12,100 bopd. Sales achieved record levels for December, averaging 13,500 bopd. The Patos-Marinza fourth quarter's average oil price was US$53.13 per barrel representing 61% of the Brent oil price, compared to third quarter's average oil price of US$46.61 per barrel (61% of Brent), an increase of 14%.

http://www.investegate.co.uk/Article.aspx?id=20110111120000P44A5

Archipelago Resosurces Plc ("Archipelago" or "the Company") is pleased to announce that it has today acquired an additional 10% interest in the Toka Tindung Gold Project ("Project") from the 15% Indonesian minority interest holders PT Austindo Nusantara Jaya ("ANJ") and The Estate of Mr Julius Tahija ("Tahija"), taking Archipelago's total interest in the project from 85% to 95%, with the remaining 5% interest purchased by Archipelago's major shareholder Rajawali Corpora in accordance with Indonesian local ownership regulations. The acquisition of the 10% and 5% interests have been approved by Indonesian Government authorities. The 15% interest was free carried and has been purchased for the sum of US$6.8m, of which US$4.53m approx will be paid by Archipelago for its 10% interest and US$2.27m approx will be paid by Rajawali for its 5% interest. The Company is very pleased with this timely pre-production acquisition which will simplify management procedures for the Indonesian operating companies and ensure that Archipelago together with its major shareholder have full control over the Project and its revenues. Production is targeted for the end of March 2011. Archipelago is a mining company listed on the AIM market of the London Stock Exchange. The Company's principal activities are gold mining and exploration in Indonesia (as 95% owner of the near production Toka Tindung Gold Project in Sulawesi), Vietnam (as majority party in the Pac Lang and Cam Thuy/Ba Thuoc joint ventures with VINACOMIN a Vietnamese Government mining company) and the Philippines (via entitlement to not less than an 80% interest in exploration company Corplex).

http://www.investegate.co.uk/Article.aspx?id=201101110916472487Z

No holding this back just now

Having raised market expectations back in November, Howden Joinery did so again on Tuesday after it put in a strong finish to 2010. In the period from 4 October to 25 December, total sales of Howden Joinery UK depots were over 6% higher than in the corresponding period in 2009, if the benefit of an additional day's trading in the 2010 pre-Christmas week is excluded.

Another well deserved SP rise

http://brokermandaniel.com/2011/01/10/johnson-service-group-slowly-slowly-catchy-monkey/

From top chartist Zak Mir of Zaks-TA.com Smith & Nephew (SN.) You did not need to know that S&N had rejected an approach from J&J (JNJ) last month, but it would have helped those buyers of the stock remain in place through last week’s dip for the shares. The view now – apart from taking a well earned profit, would be to remain long of the shares while there is no end of day close back below the initial January intraday high of 692p.

http://www.investegate.co.uk/Article.aspx?id=201101110800012404Z

Commenting on the update, Chief Executive Officer, Neil O'Brien, said: "We have continued to see strong, organic growth in our core coal mine methane business and we are encouraged by our progress in related markets such as biogas. Alkane remains well positioned to capitalise on a strengthening outlook for electricity prices and we continue to see opportunities for further growth."

Alkane (AIM: ALK), the profitable alternative energy company, today announces an update on trading ahead of the results for the year ended 31 December 2010 which the Company will publish on 9 March 2011. Trading for the year ended 31 December 2010 has been very encouraging, with output increasing by more than 25% compared to the same period last year. For the period, the Group expects to have delivered an estimated full year electricity output of circa 120GWh (2009: 95GWh). This increase reflects the contribution of the three new sites which became operational during the year, at Florence in Staffordshire, Newmarket in West Yorkshire and Kings Mill Hospital in Nottinghamshire. As at the year end, the Company had 12 operating sites (2009: 9). The average electricity sales price for 2010 is expected to be around £44/MWh (2009: £54/MWh). The Board expects that the results for the year ended 31 December 2010 will be in line with market expectations. The on-going roll out programme is progressing well and Alkane remains confident of opening a further three coal mine methane sites during 2011. Electricity pricing has shown greater strength over recent months and as at 31 December 2010, approximately 65% of the Group's expected 2011 output is now contracted at an average price of £48/MWh. Alkane continues to work on a number of new biogas projects. We have secured a contract to supply the gas to power facilities to the TEG Group PLC anaerobic digestion plant at Glenfarg, Scotland in 2011. During the year we have also worked on municipal food waste projects in collaboration with TEG, and we are working together on ongoing bids for three of the regions in the Welsh Assembly Government's food and green waste treatment programme.

http://www.investegate.co.uk/Article.aspx?id=201101110700092165Z

Mike Norris, CEO of Computacenter commented: "Customers are refreshing, upgrading, improving and investing in their IT infrastructures and we are well placed to meet these needs. The growth of long-term services contract revenue remains fundamental to the long-term success for Computacenter and it is pleasing to note that we have seen approximately an 8% increase in the annual services contract base. There was significant product revenue decline in 2009, mainly due to the economic environment. However, in 2010 we have seen strong product revenue recovery and we anticipate that product revenue will grow steadily in 2011, subject to the overall economic environment."