Murdoch's senior advisor ditches bucket load of shares
2nd Mar 2012 16:08
Arthur Siskind, senior advisor to News Corp. Chairman Rupert Murdoch, has ditched 120,000 shares in the firm. Siskind sold the shares at $20.26 each for a total of $2,431,200 on February 29th. The transaction came just one day before James Murdoch, son of media mogul Rupert Murdoch, quit his rol
Read moreBroker snap: Mozambican 'tax-grab' bad news for Cove, says Merchant Securities
2nd Mar 2012 10:19
Merchant Securities has warned investors of east Africa-focused oil and gas group Cove Energy to watch the developments in Mozambique closely, after the firm confirmed the possibility of a tax charge levied by the government. The tax is in connection with the proposed indirect transfer of the Cove'
Read moreBroker tips: Vedanta Resources, Galliford Try, Oil stocks
22nd Feb 2012 11:25
Credit Suisse believes that a major restructuring within the businesses of miner Vedanta Resources would be a "strong positive" and continues to see significant upside in the stock. Credit Suisse said that "if the reports are correct and a merger is successful it would not change group consolidate
Read moreBroker snap: Strong read-across for Cove peers after Shell bid
22nd Feb 2012 09:49
Merchant Securities has highlighted potential for sector peers of Cove Energy after Royal Dutch Shell launched a bid for the AIM-listed oil and gas producer this morning. Shares in AIM-listed Cove Energy jumped after Anglo-Dutch integrated oil company Shell launched a bid of 195p per share. The dea
Read moreLondon open: Footsie slips as ex-div stocks provide a drag
22nd Feb 2012 08:35
- Shell makes near-£1bn bid for Cove Energy. - Markets digest Greek bailout, China data. - Ex-div stocks provide a drag. The FTSE 100 slipped slightly into the red in the opening hour on Wednesday as investors continue to digest the Greek bailout approved on Monday night. Meanwhile, Chinese manufac
Read moreSmall caps round-up: Monitise, YouGov, 1pm ...
9th Feb 2012 11:07
Monitise has announced a collaboration with Visa, in which Visa DPS will use Monitse's mobile services. The services allow financial institutions to offer their account holders the ability to monitor account history and balances, transfer funds between accounts, and receive near real time transactio
Read moreSmall caps round-up: Caza, Tower Resources, Noventa...
2nd Feb 2012 12:17
Mining firm Noventa says that operations have suffered from a "plague" of beetles as a result of tropical storms which have hit the firm's Marropino site in Mozambique over the past 10 days. The Rove Beetle is very poisonous and around 30% of the workforce at Marropino have been affected by the seve
Read moreTower Resources rises on drill funding
6th Jan 2012 11:23
Tower Resources, the Africa focused oil and gas explorer, is up 2.3% this morning on news of a new financing agreement. Tower has tapped investment fund manager, Yorkville Advisors, for an initial $3.35m loan, with the capacity to increase the amount to $6.125m if required. The loan is backed by a
Read moreOutgoing chief at Spirit buys shares
29th Nov 2011 16:29
Spirit Pub Company's outgoing chief executive Ian Dyson has purchased £58,575 worth of shares just days before he exits the company. The director, who is leaving the firm after just over a year in the job, bought up 150,000 shares at 39.05p. The former Marks & Spencer finance director will leave
Read moreTower raises $4m to fund African drilling
13th Oct 2011 09:17
Tower Resources, the Africa focused oil and gas exploration company, has raised $4m through a discounted share placing. The deal has seen 103.7m new shares issued at a price of 2.5p per share, a discount of nearly 30% on last night's price of 3.47p. In total the new shares represent around 8.46% o
Read moreProgress slow at Tower Resources
30th Sep 2011 12:51
Tower Resources gave its investors little reason to celebrate after achieving only a narrower pre-tax loss for the half year ended June. After failing to generate any revenue, the company reduced its administration expenses to cut losses from $0.86m to $0.79m on a like-for-like basis. The firm's
Read moreTower Resources trying to stay on schedule
23rd Aug 2011 10:51
Tower Resources, the Africa-focused oil exploration company, says it is one month away from deciding on a suitable well location for its Uganda concession. This follows a 2D seismic survey which finished on the 4th of August. Proposals from rig contractors and other service providers are being fina
Read moreTower Resources losses widen
18th May 2011 15:18
Oil and gas exploration group Tower Resources saw losses widen in the year to 31 December as it ramped up its activities. Pre-tax losses grew to $1.31m from $1.05m the previous year. The company is not yet accruing revenues. "A well early in 2012 will finally test one of the world-class, multi-bil
Read moreTower funded until 2012
11th Feb 2011 17:50
AIM-quoted oil and gas explorer Tower Resources has raised £4.25m at 4.75p a share and that should provide enough working capital for the business until the middle of 2012. The cash will be used to increase exploration spending onshore in Uganda and to acquire more exploration licences. House brok
Read moreSmall cap round-up: International Ferro, Norseman Gold, Atlantic Coal...
27th Sep 2010 18:32
International Ferro Metals increased its sales of ferrochrome by 87% to 190,432 tonnes in the year to June 2010. Revenues grew from Rand782,000 to Rand1.43m. IFM returned to profit in the second half but lost Rand157,000 in the year to June 2010, down from a Rand456,000 loss the year before. A ne
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