Member Info for mulledwine

Valuation: Compressed cash multiple Powerflute continues to trade in the 20-25p range, sitting on a value rating on FY12 earnings, even more so for FY13 without any recurrence of the mechanical disruption. The company remains in a strong net cash position and is cash generative. EV multiples are now, in our opinion, unsustainably low at c 3x, especially if one considers that Savon Sellu, as a stand-alone facility, generates c €20m EBITDA per year. A share buyback programme announced in May has, to date, bought in 5m shares (out of a total authority of 28m) at an estimated average price of 24.7p. No further purchases are to be made during the H1 closed period

http://www.edisoninvestmentresearch.co.uk/researchreports/Powerfluteupdate050712.pdf

Anglo American Buy 02-Jul-12 £15,344.26 Peter Woicke 733 @ 2,093.35p Anglo American Buy 02-Jul-12 £13,041.57 Dr Mamphela Ramphele 623 @ 2,093.35p Anglo American Buy 02-Jul-12 £13,041.57 Phuthuma F. Nhleko 623 @ 2,093.35p

A Non-Executive Director of investment firm Jupiter Fund Management has sold a total of 116,667 shares in the firm across seven transactions over a period of 10 months. The most recent sale, made on June 26th, saw Matteo Dante Perruccio dispose of 20,000 shares at 209.39p each for a total of £41,878. The first shares were sold on September 22nd 2011, with all but the most recent set of shares sold last year.

George Weston, Chief Executive of Associated British Foods, said: "Elephant Atta is the UK's leading ethnic flour brand and will complement Westmill's other leading ethnic brands including Tolly Boy rice, Rajah spices, Lucky Boat noodles and Patak's pastes and sauces." Premier Foods will continue to mill and package the flour with the brands being managed independently from Westmill Foods until regulatory approval is obtained. The cash consideration for the acquisition is £34 million.

Associated British Foods acquires Elephant Atta, the UK's leading ethnic flour brand 6 July 2012 Associated British Foods plc ("ABF"),the international food, ingredients and retail group, today announces the acquisition by Westmill Foods of Elephant Atta and smaller related ethnic flour brands from Premier Foods plc ("Premier Foods"). Elephant Atta was established in 1962 and is the leading ethnic flour brand in the United Kingdom. The brand is sold in a variety of medium, self-raising, white, brown and wholemeal flours and is used to make chapatti and other unleavened flat bread for daily consumption. Westmill Foods is the UK's leading provider of ethnic food products to ethnic retailers and wholesalers.

http://www.investegate.co.uk/Article.aspx?id=201207060700029605G

Planned Development First oil from the Kapal field is scheduled within one year followed by production from the Banang field a year later. Coastal will develop the fields using Mobile Offshore Production Units (MOPUs) and Floating Storage and Offloading Tankers (FSOs) similar to the method used to develop its assets offshore Thailand. A total of seventeen wells will be drilled with ten planned at Kapal, four at Banang and three at Meranti. The KBM Cluster The KBM Cluster fields are located within 20 kilometers of each other in a water depth of 60 meters. The main oil reservoirs are Miocene aged sandstones ranging in depths from 3800 feet to 7800 feet. Randy Bartley, President & Chief Executive Officer, commented: "We are proud to announce this new contract with PETRONAS. The KBM Cluster has similar characteristics to our existing fields offshore Thailand and we are confident that our experience and expertise in developing smaller fields quickly and efficiently will prove valuable. There is also appraisal and step-out drilling potential at the KBM Cluster which we plan to exploit during the development program. We expect that this project will generate a rate of return approaching that of our existing assets". "This is a significant step for Coastal as we begin to utilize the cash flow from our existing production to diversify our portfolio. We are happy to have PETRONAS as a partner and are looking forward to working with them on this and potential future projects"

Coastal Energy Announces Signing of Small Field Risk Service Contract with PETRONAS Coastal Energy Company (the "Company" or "Coastal") (TSX: CEN) (AIM: CEO) has entered into a Small Field Risk Service Contract ("RSC") with Petroliam Nasional Berhad ("PETRONAS") for the development and production of petroleum from the Kapal, Banang and Meranti cluster of small fields (the "KBM Cluster") offshore Peninsular Malaysia. Coastal (with 100% equity interest under the Small Field RSC) will be the operator of the KBM Cluster fields. In accordance with the Small Field RSC, Coastal is currently finalising an arrangement for a Malaysian company to participate in the Small Field RSC for 30-40% equity interest. Coastal will provide the upfront development capital, undertaking the development drilling and production of the KBM Cluster. PETRONAS will remain the owner of the project. Subject to its performance, Coastal will recover its capital and operating expenditures and will be paid a remuneration fee, which will be adjusted by key performance indicators ("KPIs") based on the timely implementation of the agreed field development plan and budget.

http://www.investegate.co.uk/Article.aspx?id=201207060700040652H

Think they drilled through a krugerrand .

Kirill Golovanov, CEO of Ovoca Gold plc, commented: "Exploration and development programs initiated in 2012 at our gold-silver projects are a high priority for the Company. We are pleased that bulk sampling and processing of samples has commenced at the Stakhanovskiy Project. Recent assay results from trenches illustrate the nuggety high-grade nature of gold in fresh rock near surface. At Rassoshinskaya we are working in areas where we intersected significant gold and silver mineralisation in our previous drilling. Contractors are on site completing the significant levels of work planned for 2012. It is an exciting opportunity for the Company to have such large tracts of prospective ground in one of the world's greatest gold and silver provinces. We look forward to providing regular updates on our efforts."

Operational Update Ovoca Gold is pleased to provide an update on its 2012 field work on its Stakhanovskiy and Rassoshinskaya projects. Highlights Stakhanovskiy Project surface trench assay results from Berezitoviy and Burovaya ore bodies of: · 2.5 metres at 281.40 g/t gold · 4.0 metres at 41.28g/t gold · 1.5 metres at 45.76 g/t gold · Processing of 5,000 tonnes of primary rock by gravity concentration plant from Berezitoviy and Zabolochenniy ore bodies Rassoshinskaya Project HQ-sized core drilling at the Zet Prospect produced two significant intersections: · 0.4 metres at 74.40 g/t gold and 342.0 g/t silver · 2.0 metres at 4.53 g/t gold and 38.9 g/t silver

http://www.investegate.co.uk/Article.aspx?id=201207060700030632H

SNR Chief Executive David Nel said, "This has been a year filled with preparation, change and achievement as we have commenced production and we continue to gear ourselves for the commencement of exports. None of this would have been possible without the shareholders and partners who support this business and the dedicated team of professionals in their service. I am looking forward to charting together the course we have set for this Company over the next financial period."

Final results for the year ended 29 February 2012 The Board of Strategic Natural Resources ("SNR") (AIM: SNRP) is pleased to announce its audited financial results for the year ended 29 February 2012. A full copy of the annual report and accounts has today been posted to shareholders, along with notice of the Company's annual general meeting ("AGM"), to be held at the offices of FTI Consulting, at Holborn Gate, 26 Southampton Buildings, London WC2A 1PB at 11.00 a.m. on 31 July 2012. The annual report and accounts and AGM noticewill also be made available on the Company's website, www.snrplc.co.uk. Highlights during the period: · Coal off-take agreements signed · Raised a total of £1.9 million through additional investment by Cooch 1095 Ltd Post period highlights: · Raised a total of £8.7 million through investment of a new shareholder, Richardsons LLP · Commencement of open cast production

http://www.investegate.co.uk/Article.aspx?id=201207060700030634H

Berenberg initiates buy on Close Brothers, target price 865p

Liberum Capital iniitiates buy on Daisy Group, target price 120p

Acquisition Completion of the acquisition of Shenzhen Embest Technology Co Limited 5 July, 2012 - London, Premier Farnell plc (LSE:pfl) announces the completion of its acquisition of Shenzhen Embest Technology Co Ltd (Embest), a leading provider of embedded system development boards and tools, as well as design engineering services with gross assets of approximately £0.5 million (at current exchange rates). Embest, which is based in China, will report through element14, Premier Farnell's operating business in Asia Pacific, while providing solutions to customers across the world.