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Fri, 12th Feb 2016
Anthony Coombs, chairman of specialist lender S&U (LON:SUS), is looking actively and rigorously...
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Fri, 12th Feb 2016
Anthony Coombs, chairman of specialist lender S&U (LON:SUS), is looking actively and rigorously for future acquisitions after last July’s sale of its home credit business Loansathome4u. Speaking to Proactive, Coombs is confident about the company after the 78-year-old business announced record monthly collection figures of £7mln. “We’re writing more and more business. The quality of the business that we’re writing is the best it’s ever been.” Customer numbers are now up over 32% compared to the same time last year while the business has seen £27 million of investment in the last 12 months. The firm trading is in line with market expectations
S&U actively looking for acquisitions says Chairman
Fri, 12th Feb 2016
Paul Johnson, the recently appointed chief executive of Metal Tiger (LON:MTR), says, “This is a cyclical market. We have to find a way of crystallizing value in our interests and distributing that value to our shareholders so we do have an exit plan in mind.” Johnson, speaks to Proactive at the end of a week where he took up his new role, government approval was given to drill in Botswana, a £50,000 investment was made in ZimNRG (ISDX:ZIMO) and extra time to given mull on its option over the Semenovsky gold tailings project in Bashkiria, Russia.
Metal Tiger not a long term business says new CEO
Fri, 12th Feb 2016
Keras Resources (LON:KRS) managing director Dave Reeves speaks to Proactive on its new gold venture in Australia, which is on time and on budget. Production is expected to start in the second quarter, and Reeves says he is looking forward to “stop talking about resources and start to talk about production and cash flow”. He adds that putting together a rising gold price, decreasing Australian dollar, low labour costs and good rates of equipment hire makes for “probably some of the best margins that we’ve seen in Australian gold in living memory.”
Keras MD excited by margins from Australian gold venture
Fri, 12th Feb 2016
Tom Pugh, commodities analyst at Capital Economics, tells Proactive that companies in the oil sector will have to look at reducing production to stay afloat, having already “cut pretty much all of the fat from their operations.” He says oil production has been “surprisingly and quite stubbornly resilient” in the wake of the 70% slump in oil prices since mid-2014, but thinks this is about to change. He expects prices to remain quite weak for the first half of the year, due to a potential rise in supply coming from Iran and a general unwillingness from other countries to reduce their production. But he sees supply cuts coming through in the second half of the year, along with some evidence of stronger demand, which Pugh says “should help to rebalance the market.”
Oil price to rise by the end of the year, says Capital Economics
Thu, 11th Feb 2016
Paul Parmar, chief executive of Constellation Healthcare Technologies (LON:CHT), says that his company is undervalued and he is a “definite buyer” of the shares at the current price. He attributes general market volatility to the suppression of the stock and says the true valuation of the company, which provides billing services to doctors in the U.S., is closer to US$400mln than today’s market cap of US$188mln. Parmar spoke to Proactive after confirming the company’s fourth acquisition since Constellation listed on AIM in December 2014. An upfront payment of US$28mln has been made for MDRX Medical Billing which could rise to US$30mln depending on MDRX's performance over the next two years.
Constellation Healthcare’s true valuation closer to US$400mln, says boss
Thu, 11th Feb 2016
Neil Mehta, fixed income analyst at financial services company Markit, said “the potential for a big market event within banks at the moment seems unlikely.” Speaking to Proactive, Mehta argues banks can withstand the challenges being faced by the industry which do not include the systemic problems that plagued the sector in 2008 and 2011. Headwinds buffeting the sector now include a volatile macro environment, slowing global growth, the introduction of negative interest rates and the ongoing debate about the UK’s membership of the European Union. Two banks of concern are Standard Chartered (LON:STAN) and HSBC (LON:HSBA). Both are exposed to the slowdown in emerging markets which Mehta says ‘could potentially engulf them’.
Banking sector withstanding challenges says Markit’s Mehta
Thu, 11th Feb 2016
Solo Oil (LON:SOLO) chairman Neil Ritson talks to Proactive about the firm’s decision to further increase its stake in the soon-to-produce Kiliwani North project, onshore Tanzania. The firm bought an additional 3.825% stake in the venture from Aminex, increasing its interest to 10% from 6.125% but Ritson says that Solo still has cash to invest elsewhere. He adds that the Tanzanian authorities have asked the firm to be ready to start the well next week, which, he says they will be.
Solo Oil looking at other projects following Kiliwani investment
Thu, 11th Feb 2016
DP Poland (LON:DPP) chief executive Peter Shaw tells Proactive he is “very pleased” with the progress made by the company in 2015. “Demand is continuing to grow and our like-for-like (LFL) sales show the stores are performing well, marketing is proving effective and most importantly we are seeing growing loyalty with our customers,” he adds. LFL system sales in 2015 were up 16% on the year before, while the LFL order count was up 14%.
DP Poland boss pleased with LFL performance in 2015
Wed, 10th Feb 2016
After his resignation from the board, Golden Saint Resources' outgoing CEO Cyril D'Silva tells Proactive Investors he feels the company's board needs regeneration and a fresh start. He says Golden Saint is a "fantastic company" and that "the hard work has been done" and is confident the company will "climb back up".
Golden Saint Resources' outgoing CEO Cyril D'Silva says board needs regeneration
Wed, 10th Feb 2016
88 Energy (LON:88E) announced better than expected permeability test results it has now crossed off two of three potential ‘Achilles heels’ of its new shale play in Alaska. Speaking to Proactive, chief executive Dave Wall, says that results received so far are “either very, very, close to or have exceeded expectations.” Results are from the matrix permeability tests on samples recovered from the HRZ shales in the Icewine-1 well, which Wall says are “very encouraging”.
88 Energy chief hails “very encouraging” results from Icewine project
Wed, 10th Feb 2016
George Morris, chief operating officer of ValiRx (LON:VAL), tells Proactive that the results is a “major hurdle” that the company has surpassed. Valirx is readying to expand the reach of its lead drug, VAL201, which is currently going through a phase I/II trial as a prostate cancer treatment to female infertility condition endometriosis. “Hopefully in the little while with the latter stages of the Phase II bit of the Phase I/II trial, we will begin to see a proper efficacy profile which will then be turned into a serious therapeutic” Morris adds.
ValiRx COO “extremely happy” with latest VAL201 trial results
Wed, 10th Feb 2016
NetScientific (LON:NSCI) chief executive Francois Martelet says he is “extremely pleased” with the partnership between its portfolio company PDS Biotechnology and the US National Cancer Institute. The co-operative research and development agreement is for phase II clinical trials of a novel range of cancer immunotherapies. Martelet adds that the deal has “largely validated this new immunotherapy platform,” and that the firm will look to develop treatments using its Versamune platform for tumour-related proteins in prostate, breast, and HPV-related cancers.
Netscientific CEO: New PDS deal validates immunotherapy platform