Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
50% of total Project construction complete.
• Decline development is progressing as planned, with the lower decline currently at 277m and upper decline at 177m at 21 November.
• All long lead items ordered and equipment delivery is expected on schedule, with first concentrate production anticipated in Q3 2023.
• Construction of 24.5km Haul Road is well underway and on track for completion by Q3 2023.
• Exploration and infill drilling (88% complete) at Rupice continues, with results feeding into the planned Mineral Resource Estimate update in Q1 2023.
• Staff headcount increased to 183; contractor headcount totalling 222.
issued today
https://www.britishbulls.com/m/SignalPage.aspx?lang=en&Ticker=ttg.L
https://www.britishbulls.com/m/SignalPage.aspx?lang=en&Ticker=thg.L
TT will not be required to make any future contributions into the Scheme regarding defined benefit liabilities and the buy-in delivers greater security to the Scheme's members. The Scheme's circa £400 million of liabilities are now matched by the insurance policy, and TT no longer bears any investment, longevity, interest rate or inflation risk in respect of the Scheme.
There will be an immediate benefit to the Group's current year cash flow of £6 million and an equivalent annual improvement to free cash flow in future years.
The pension benefits that Scheme members will receive in the future are almost entirely unaffected by this transaction.
Mark Hoad, TT Chief Financial Officer commented:
"This transaction is an excellent outcome for our defined benefit pension scheme members, TT and our shareholders. We have worked hand in hand with the Scheme's Trustee over the last few years to reach this position. Those efforts, combined with excellent stewardship by the Scheme's Trustee Directors, has meant that the Scheme can now be fully de-risked for the benefit of members and the Group.
TT Electronics plc ("TT", "the Group"), a global provider of engineered electronics for performance critical applications, is pleased to announce that it has completed a buy-in of all its UK defined benefit pension liabilities giving an immediate £6 million cash flow benefit.
The Trustee of the TT Electronics Pension Scheme (the "Scheme") has purchased a bulk annuity insurance policy from Legal and General Assurance Society Limited ("L&G"), covering all liabilities required to pay all future defined benefit pensions for the Scheme's circa 5,000 members and any eligible dependants.
The purchase of this insurance policy is the successful culmination of extensive work over the last few years by TT and the Scheme Trustees. The insurance policy has been purchased using existing assets held within the Scheme, without the need for TT to make any additional contributions.
TT will not be required to make any future contributions into the Scheme regarding defined benefit liabilities and the buy-in delivers greater security to the Scheme's members. The Scheme's circa £400 million of liabilities are now matched by the insurance policy, and TT no longer bears any investment, longevity, interest rate or inflation risk in respect of the Scheme.
target 250p
https://www.britishbulls.com/m/SignalPage.aspx?lang=en&Ticker=zphr.L
https://www.britishbulls.com/m/SignalPage.aspx?lang=en&Ticker=ttg.L
@ 244.56p
these will recover - as it is an over-reaction
https://www.britishbulls.com/m/SignalPage.aspx?lang=en&Ticker=thg.L
https://www.britishbulls.com/m/SignalPage.aspx?lang=en&Ticker=ttg.L
https://www.britishbulls.com/m/SignalPage.aspx?lang=en&Ticker=thg.L
https://www.britishbulls.com/m/SignalPage.aspx?lang=en&Ticker=igas.L
https://www.britishbulls.com/m/SignalPage.aspx?lang=en&Ticker=adt1.L
TT Electronics PLC - Woking, England-headquartered manufacturer of electronic components - Says its revenue growth has "accelerated" in the four months to October, as it expected. Records strong volume growth augmented by pricing and material pass-through costs. Says its order book remains "well above historic levels" across the business and provides excellent visibility for 2023. Expects to report full-year adjusted pretax in line with expectations. "Momentum across the group continues to be strong reflecting our successful positioning in structural growth markets. The team is executing well against the ongoing challenging backdrop, and we continue to expect to deliver margin improvement in the second half. While mindful of the wider macroeconomic backdrop, the continued growth in order book extends our visibility of revenues for 2023," CEO Richard Tyson comments.
https://www.britishbulls.com/m/SignalPage.aspx?lang=en&Ticker=CMCX.L/
I value your input Mr Picky. Of course my 195p is just a hope, but as a retired Accountant I like the company, and the direction it is going in -is pleasing to me. And I do not think the RBC target is so far fetched.
on track to deliver improved cash generation and a year-end leverage position within our target 1-2x net debt to adjusted EBITDA range.
before Christmas
IMO