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Shares in Gem Diamonds (GEMD) tumbled by 7.8p to 201.2p after it reported a cave-in at the entrance to its Ghaghoo mine in Botswana, claiming the lives of two workers. The firm said it will look to improve safety standards at the site, and the commencement of diamond production is now expected to be delayed until the first half of 2014, from the expected start date in 2013. Gem Diamonds added that the project is on budget, having spent around 31 million dollars (19.8 million pounds) of the budgeted 85 million dollars (54.2 million pounds).

Daniel Stewart maintained its "buy" recommendation for Thalassa Holdings (THAL) with an increased target price of 86p, from 61p. The oil and gas services company reported 15 million dollars (9.6 million pounds) of contracted revenues for the year ending December 2012, which the broker noted is a 500% rise on 2011 levels. Daniel Stewart added that on its projections the shares trade on an EV/EBITDA multiple of just 2.5 times for 2012, compared to a peer group average of 8.4 times. Shares in Thalassa jumped by 2p to 57p

Canaccord Genuity retained its "buy" stance on SABMiller (SAB) with a 2,830p target price. The brewer's MillerCoors' subsidiary has a 35% share of the beer market in the southern United States and the broker believes there are positive signs towards the stemming of the volume decline of its key Miller Lite brand. On Canaccord's earnings forecasts, the shares trade on a prospective multiple of 14 times for 2013, which it noted is broadly in-line with its European peer group average of 13.7 times. The broker feels that this is unfair given SAB's significantly superior exposure to emerging markets. The shares grew by 24.5p to 2,478.5p.

Panmure Gordon reiterated its "buy" rating for Ashtead Group (AHT), with a target price of 304p, ahead of Thursday's full year results. The broker expects the construction equipment rental company to report a strong finish to the financial year ended 30th April 2012, benefiting for increase investment in its fleet. Panmure noted the firm's focus on developing its specialist divisions, which the broker accounts for between 15% and 20% of group revenues and offer higher margins. Ashtead shares inched up by 0.9p to 233.2p.

WH Ireland initiated coverage of Cluff Gold (CLF) with a "buy" recommendation and 101p target price. The broker is impressed with the gold miner's diversified production assets across Western Africa, adding that the firm also has a number of near-term developments. WH Ireland pointed to the group's Baomahun project in Sierra Leone which is expected to add 135 thousand ounces to annual production, as well as the Yaoure site in Cote d'Ivoire which it believes could contain a significant gold deposit. The shares advanced by 1.25p to 68p.

Papua New Guinea focused gold and copper explorer Papua Mining posted a full year profit compared to a loss the previous year following an exceptional credit. The group reported an operating profit of $55,589 for the year ended December 31st due to an exceptional credit, compared to a loss of £213,000 in 2010. Papua Mining, which has three exploration licences in Papua New Guinea, said it is positive about its prospects for drilling success. Chief executive officer Hugh McCullough said, "Our licence holdings make Papua Mining one of the more prominent explorers in the region. We are operating in a highly prospective area with a strong team of professional geologists and technicians with proven track records." "We have carried out an intensive exploration programme over the past 12 months, the results of which have confirmed management's confidence in the targets already identified and several promising new targets have also emerged."

Elster, which is incorporated in Germany, is listed on the New York Stock Exchange (NYSE: ELT) and currently has a market capitalisation of US$1.9 billion. Elster is a world leading engineering company and one of the world's largest providers of gas, electricity and water meters, gas utilisation products and related communications, networking and software solutions. Elster generated revenues of $1,869 million in 2011 from providing products and solutions for use in residential, commercial and industrial end markets, as well as transmission and distribution applications, and has one of the most extensively installed meter bases in the world. Elster's products and solutions measure and control the supply of electricity and gas and water in traditional and ''Smart Grid'' markets in 130 countries worldwide, and in total Elster has deployed more than 200 million meters over the course of the last decade. Regulatory information on Elster can be found on http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001492261&owner=exclude&count=40.

Possible Acquisition Further to recent press speculation, Melrose PLC ("Melrose") confirms that it is in discussions with the Board of Elster Group SE ("Elster") regarding a recommended cash offer for the entire issued share capital of Elster (the "Transaction"). Elster agreed to due diligence which is currently on-going, and Melrose has indicated that it would not proceed with the Transaction without a recommendation from the Board of Elster and a hard irrevocable undertaking from Elster's largest shareholder, Rembrandt Holdings S.A., which is owned by funds advised by CVC Capital Partners. Any Transaction would be funded through a combination of new debt and a fully underwritten rights issue to existing Melrose shareholders. The Board of Melrose will only proceed with the Transaction if it meets Melrose's acquisition criteria, including the terms on which financing for the Transaction can be raised. This will include, but not be limited to, the Melrose share price at the time of announcement.

http://www.investegate.co.uk/Article.aspx?id=201206180700065360F

Bualuang Far East-1 Exploration Well Spud Salamander Energy plc announces the spud of the Bualuang Far East-1 ("FE-1") exploration well in Block B8/38, Gulf of Thailand. The Bualuang Far East prospect is located approximately 7km to the northeast and up-dip of the Bualuang oil field. The FE-1 well will be drilled to a total vertical depth of 1,452 metres subsea. The primary target is the T5 Miocene sandstones with secondary targets comprising an underlying Permian-age Ratburi carbonate and a T4 Miocene sandstone stratigraphic trap. The main T5 objective has potential mean recoverable resources of 20 million barrels of oil. The well will be drilled by the Ensco-53 jack up rig and is expected to take approximately 20 days to complete on an untested basis. Salamander has a 100% interest in, and is the operator of, the B8/38 production licence. This contains the Bualuang oil field and East Terrace oil discovery.

http://www.investegate.co.uk/Article.aspx?id=201206180700055221F

WH Ireland kept its "buy" recommendation for Avesco Group* (AVS) with a 225p target price. The media firm reported a trading profit of 2.1 million pounds in its first half, ended 31st March 2012, compared to a loss of 0.3 million pounds in 2011's comparable period, with the broker noting that the firm introduced an interim dividend of 1p per share. WH Ireland added that if the verdict for the company's case against Disney is upheld, with a decision expected in 2013, it would be worth 140p per share to the firm. Shares in Avesco were flat at 150p.

Singer Capital retained its "buy" rating for M&C Saatchi (SAA) with an increased target price of 165p, from 161p. The broker noted that the advertising agency has enjoyed several contract wins since the start of the new financial year, adding that a number of deals from 2011 will make their first revenue contributions in 2012 as well. Singer raised its revenue target for 2012 by 6.4% to 164.7 million pounds, with earnings forecasts putting the shares on a prospective multiple of 8.7 times. The shares crept up by 1p to 138.5p.

Thalassa Holdings (THAL) finished off what has been a good week for the marine surveying company, its shares surging by 10.5p to 55p on news it has acquired a further two compressor units, increasing the firm's operational flexibility. The units have been purchased in order for Thalassa to meet the increased level of interest in its services; the group announced on Monday that contracted revenues for 2012 stood stood at circa 15 million dollars.

Young & Co's Brewery 'A' Shares Buy 14-Jun-12 £48,576.00 Stephen Goodyear 8,832 @ 550.00p Young & Co's Brewery 'A' Shares Buy 14-Jun-12 £93,500.00 Rupert J. Clevely 17,000 @ 550.00p

Young & Co's Brewery 'A' Shares Buy 14-Jun-12 £23,375.00 Roger Lambert 4,250 @ 550.00p Young & Co's Brewery (Non-Voting) Buy 14-Jun-12 £18,000.00 Roger Lambert 4,000 @ 450.00p

Security firm Red24 reported its fourth year of double digit profits and boosted its dividend by a third. Full year revenue increased by 10.6% to £5.8m, while pre-tax profits came in up 16% at £863,093. Earnings per share were up to 1.53p and the firm rewarded shareholders with a dividend increase of 33% to 0.32p per share. "Our special risk business for insurers has performed strongly and our growing reputation in this area has enabled us to develop additional services in the confidence that there is a ready market for them," said Chairman Simon Richards. "Our focus on the quality of business has led to the growth in both the levels of business and in our financial performance and is reflected in the increasing strength of our balance sheet," he added.

15-Jun-12 UBM UBM Panmure Gordon Sell - target 475.00p Reiteration

15-Jun-12 Atkins (WS) ATK Numis Securities Add - target 810.00p Upgrade

We expect Aggreko to deliver further, high margin predictable growth over the medium term – and that isn’t a phrase we can use writing about too many other companies out there,” write analyst at ,Panmure Gordon this morning about the temporary power provider. Backing up those expectations, they say, is the good order intake in international power projects (IPP), which has led the company to ramp up capital expenditure plans for the year – a great indicator for confidence and potential for 2013.