Member Info for mulledwine

General The following discussion of performance, financial condition and future prospects should be read in conjunction with the interim consolidated financial statements of the Group and notes thereto for the period from 1 January 2011 to 30 June 2011. All amounts are stated in sterling. Overview Landore Resources Limited is listed on the Alternative Investment Market in London, with the trading symbol of LND.L. The Company is based in Guernsey in the Channel Islands and its operating subsidiary, Landore Resources Canada Inc, is engaged in the exploration and development of a portfolio of precious and base metal properties in North America. Results of Operations The financial results for the six months to 30 June 2011 show a loss of £1,903,093 (2010: loss of £2,098,990). These results are in line with expectations. During the six month period exploration costs were £1,337,695 (2010: £1,483,823) and administrative expenses were £569,490 (2010: £615,192). During the period under review £3,307,980 net of expenses was raised from the issue of 23,025,000 shares. Subsequent to the period end a further £450,000 has been raised from the issue of 3,000,000 new ordinary shares as a result of warrants being exercised at 15p per share. As a result of these fundraisings the Group is fully funded for this season's exploration and drilling activities.

http://www.investegate.co.uk/Article.aspx?id=201109020700094952N

Singer Capital downgrades Topps Tiles from fair value to sell, target price cut from 56p to 22p.

Conclusion This is an exciting time for anyone involved Kryso Resources. The company is well down the path of transition from explorer to producer. They are in control of a vast gold deposit and there is still potential for more discoveries and resource expansion. The backing of CNMIM is extremely important. Raising US$108million might well prove to be a great hurdle to overcome for a company of Kryso’s size in the current climate. However the sheer scale of their resource, plus the support of CNMIM gives Kryso enormous leverage. Having a guarantor on 70% of their funding requirement should also make the securing of finance an easier task. Although the funding deal from the China Export Import Bank has yet to be confirmed, given the ongoing process and engagement and the substantial “resource in ground” valuation that Kryso should attract; all the indicators point to the high likelihood of a positive outcome. Right now the proposition for investors centres on progress being made towards the initial production goal in 2013. The discount available in Kryso’s current value is reflective of this and there is certainly enough headroom on the upside. If all goes to plan, then ultimately the price will catch up with the reality of events as they unfold and as each significant milestone is achieved, it will likely be accompanied by its own re-rating event. Whether using the historical average of $35/oz, Kryso’s peer review estimate of $64/oz or the Edison Investment Research Benchmark, from where the share price currently sits, they all suggest a significant multiple of the current market capitalisation. However, how much more valuable will the company be when funding is secured, mine construction completed and production finally underway!!

http://www.miningmaven.com/k2/companies/kryso-resources/kryso-resources-straight-to-business/

DensitronBUY 31/08/2011 Miles Nolan We recently recommended shares in Densitron (DSN) and the electronic displays minnow has repaid our faith with a solid set of figures. In the six months to June, sales increased 31% to £11.3m as pre-tax profits soared more than five-fold to £504,000 (2010: £97,000). Despite the recent payout of a 5p a share special dividend, shareholders are to benefit from a doubling of the interim payment to 0.2p a share. Orders booked in the first half rose 6% to £11.2m, though stripping out a large one-off £500,000 order gain last time the underlying growth was nearer 10%. Sales in Europe stepped up 26% to £5.9m, as gross profits increased 15% to £1.3m. Growth in the US was good, however Asia proved the star performer - here sales leapt 75% to £1.4m. Speaking to Growth Company Investor, finance director Tim Pearson said 'despite the global economy, we are encouraged that our business is moving in the right direction.' On future growth he highlighted the intention to open an office in India next year, to tap into its 'massive economy' and the 'huge number of leads it receives.' Densitron has withdrawn its appeal against the rejection of planning for the 1.25 acre strip of land it owns in Blackheath, this will be a slow-burn is potentially very valuable. Broker Westhouse forecasts 2011 pre-tax profits of £1.3m and EPS of 1p. We suggested buying Densitron in June at 10.5p, with the price currently at 11.625p we retain our view. Buy.

http://www.growthcompany.co.uk/recommendations/1650848/densitron.thtml

Barclays downgrades Reckitt Benckiser from equal weight to underweight, target cut from 3,370p to 3,000p

James Menzies, Chief Executive, Salamander Energy, said: "We have realised excellent full cycle returns on the investment in these mature assets, and this is a timely moment for exit. The strategic motivation for this deal is to re-deploy capital from declining assets into operated, material growth projects where Salamander has influence."

Sale of interests in Offshore Northwest Java and South East Sumatra PSCs Salamander Energy announces that it has agreed terms with Risco Energy Pte Ltd ("Risco") for the sale of Salamander Energy (Java & Sumatra) B.V. through which the Group holds five per cent interests in the Offshore Northwest Java ("ONWJ") and Southeast Sumatra ("SES") PSCs respectively. The cash consideration is $55 million plus working capital adjustments of $1.3 million, with a further deferred cash consideration payable upon the buyer's participation in any extension of the ONWJ PSC. Highlights · Salamander has agreed to sell its five percent interests in the ONWJ and SES PSCs to Risco, with an effective date of 30th June 2011. The initial cash consideration for the transaction is $55 million plus working capital adjustments of $1.3 million. The deal is not subject to any additional approvals. · In addition, a deferred cash payment is to be made upon confirmation of Risco's participation in the extension of the ONWJ PSC. The amount of the deferred payment will be dependent on the timing and level of participation in the ONWJ PSC extension. For a 5% participation, the payment will be capped at $4 million. The payment will be pro-rated to the 5% interest. · Production attributable to the net 5% interests in the first half of 2011 averaged c. 6,000 boepd and proved and probable reserves attributable to the interests are estimated to be 13 million barrels of oil equivalent as at the mid-year 2011.

http://www.investegate.co.uk/Article.aspx?id=201109020700084866N

Foster’s chief executive John Pollaers has characterised SABMiller’s A$9.5bn hostile bid as a “slow seduction”, while putting the ball firmly back in the court of the UK-listed brewer. Mr Pollaers’ comments come as SABMiller is putting the finishing touches to a formal bid, which will be put directly to the Australian brewer’s 150,000 shareholders within the next fortnight, the Financial Times reports.

We have been fans of Aggreko for some time now, says the Investment Column at the Independent. Our confidence has been down to the fact that it is well placed to meet the global demand for power. The temporary power provider boasts both the know-how and the reach to meet the needs of its customers, whether it be during crises that knock out conventional supplies, or during big sporting events. The one fly in the ointment, however, is that the Aggreko story is far from secret. The market is very much alive to the growth potential, something that is reflected in the share price, which is up more than 100 per cent since the beginning of last year. You could, in other words, argue that it would be prudent to bank profits. We would disagree. Buy, says the Independent.

For the first set of figures as a company with a main listing, the interims from Cape were a touch underwhelming, according to the Tempus column at the Times. They were greeted with a 6¾p fall in the share price to 480p. Revenues were pretty well flat at £335 million and profits before tax fell by 12.5 per cent to £28.6 million. Operating margins slipped from 12.1 per cent to 11.5 per cent. Of the factors that held performance back, probably the most significant were aggressive competition in the North Sea, the completion of earlier work in the Middle East and a delay to starting on a large liquified natural gas plant in Algeria. Long-term, the shares look a pretty good bet, given the markets where Cape is focused and the higher visibility of the shares on the main market, says the Times

Down, up and shake it all about !

Exane BNP upgrades Drax Group from neutral to outperform,target price raised from 550p to 630p.

Peel Hunt initiates buy on Spirit Pub, target price 81p

UBS downgrades Regus from buy to neutral, target price cut from 130p to 80p

Nomura upgrades Informa from neutral to buy, target price raised from 482p to 515p.

Espirito Santo downgrades Hansteen Holdings from buy to neutral, target price cut from 93p to 81p.