Proactive weekly mining round-up: Rio Tinto, Bacanora Lithium, Caerus Mineral Resources.
A run-through of some of the week s mining stories
Jacques left the FTSE 100 mining giant after it blasted the 46,000-year-old Juukan Gorge heritage areas in Australia to access iron ore. On Thursday’s AGM, over 60% of shareholders voted against two resolutions on the firm’s remuneration report, but as it only an advisory measure the company decided to ignore the vote and carry on.
Bacanora Lithium PLC’s (LON:BCN) partner and major shareholder Ganfeng has made an offer to buy out the mining group. The Chinese giant says it will offer 67.5p per share, a 45% premium to the close yesterday and valuing AIM-listed Bacanora at £259mln, including shares to be issued through a recent placing. Ganfeng already has a 29% stake in Bacanora and also a 50% stake in Sonora, the junior miner’s lithium deposit in Mexico.
Panthera Resources ends partnership with Galaxy Gold Mines following change in Indian mining law
In December 2018, Panthera announced that Indo Gold Pty Ltd (IGL), a subsidiary of Panthera, had entered into a binding term sheet with Galaxy forming a partnership in India to advance the Bhukia joint venture project
Panthera Resources PLC (LON:PAT) said it decided not to extend a term sheet with Galaxy Gold Mines Pvt Ltd following the recent change in the Indian mining law, effectively ending a partnership to advance the Bhukia joint venture gold project.
The gold exploration and development company said the term sheet with Galaxy lapsed effective 30 April 2021.
Proactive news headlines: Samarkand Group, Live Company, MGC Pharmaceuticals, Greatland Gold.
A glance at some of the day s highlights from the Proactive Investors newswire
Samarkand Group PLC (LON:SMK) said it has acquired Zita West Products Limited (ZWPL), a UK nutritional supplement brand for the fertility and pregnancy market, as well as a 51% stake in mother and baby nutritional product and probiotics maker Babawest Ltd for a total consideration of around £2.4mln.
Live Company Group PLC (LON:LVCG) said it has acquired a 16.3% stake in Start Art Global Ltd, an online and digital art sales platform that it said also had the potential for the creation of non-fungible tokens (NFTs).
TRADING UPDATES: Supreme annual revenue jumps; Pelatro in Asia deal
Tue, 4th May 2021 19:13
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
Supreme PLC - maker of fast-moving consumer goods - Expects 30% revenue hike in year ended March 31 to GBP121 million from GBP92.3 million, in line with management expectations. Adjusted earnings before interest, tax, depreciation and amortisation tipped to rise 20% to GBP19 million from GBP16.2 million. I am delighted to provide our first trading update since our AIM admission in February 2021. We continue to build on our strong track record of growth, with our strategy to focus on high growth categories such as vaping and sports nutrition really coming to fruition, Chief Executive Officer Sandy Chadha comments.
FTSE 100 consolidates early gains; US indices to open mostly lower
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FTSE 100 consolidates early gains; US indices to open mostly lower
The rising oil price has lifted BP and Royal Dutch Shell and they in turn have lifted the Footsie
FTSE 100 rises 58 points
US indices to open on the back foot
Oil price rise underpins Footsie s rise
US indices are expected to open mostly lower except for the narrowly-based Dow Jones 30-share index.
The Dow is tipped to edge 19 points higher to 23,132 but the more broadly-based S&P 500 is seen giving up 4 points at 4,189 while the tech-heavy Nasdaq 100 is expected to slide 20 points to 13,759p.