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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
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Palmaris Cap. | LSE:PMS | London | Ordinary Share | GB0009443358 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0.625 | - | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
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0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
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27/6/2003 22:07 | Sold 20,000 @8.6p, don't know why it rose today unless scottish mining have got planning permission on Blindwells, Perseverance has hardly moved all week so no help from there. | karzy | |
12/6/2003 03:57 | Looking fully valued at | karzy | |
06/6/2003 20:57 | Perseverance have deciced to use goldfields biox to process their ore if fosterville gets the go ahead, decision due later this year. Anyway have a nice weekend, going shearing some sheep to-morrow so off for a few bevvies of the old amber nectar to loosen the old joints up. | karzy | |
25/5/2003 22:12 | Another link worth a read www.scottishcoal.co. | karzy | |
09/5/2003 18:55 | thnx for that, K. (I didnt think anyone would post on thsi "research thread", but I'm glad you have) The UK coal mining sector has really slimmed down hasnt it? Maybe the survivors (and Mining Scotland is one, barely) will do well | energyi | |
09/5/2003 18:41 | A piece in the FT this week on German coal mines. they are receiving a subsidy of 100 euros per tonne for coal mined, twice the world market price for steaming coal, also on Bloomberg a quote from the Ministry of Mines saying coal production had dropped substantially in S.A. due to strong Rand and "raw production difficulties". Maybe in years to come it might pay to pump it out. | karzy | |
09/5/2003 15:06 | Industry leaders issue warning over Scottish coal mining Industry leaders have warned that coal mining in Scotland will disappear within five years unless more open-cast mining is allowed. The Confederation of United Kingdom Coal Producers, or Coalpro, says the industry is meeting only half the demand for coal because councils are rejecting so many applications for open-cast mines. Coalpro executives told the Scottish Parliament's Public Petitions Committee that it should be made easier for coal firms to develop exploitable coal deposits. Scott Brown, the group's vice chair, says: "The lack of planning permission for open-cast sites is threatening the future of coal mining in Scotland. "The approval rate for planning applications was equivalent to an annual rate of 2.9 million tonnes, less than 50% of the current annual coal demand." Mr Brown claims that the strict interpretation of planning rules by some local authorities meant the industry could "close completely within five years". The organisation made its complaints after presenting a petition to the cross-party committee. The petition insisted open cast coal was "vital to the survival of the coal industry in Scotland, including the Longannet deep mine". Story filed: 00:00 Tuesday 19th June 2001 | energyi | |
09/5/2003 14:39 | MORE ON OPEN CAST: The coal seams that do exist are of varying thickness and qualities. Opencast mining is usually restricted to a maximum depth of 150 metres, but often sites operate at much shallower horizons. In terms of quality, the calorific value is too low for specialised markets, apart from small tonnage's of low grade housecoal. The market for the Clackmannanshire coal is essentially local, to feed into the Longannet Power Station. The working life of Longannet Power Station, to 2020, cannot be guaranteed and there is uncertainty over the proposed clean coal Power Station in Kincardine. The Council recognises that Clackmannanshire opencast coal is an important contributor to the competitiveness, and therefore generating life, of Longannet Power Station, which serves as a major employer in the area. The local opencast coal needs continued production from the Longannet deep mine, and vice versa, to supply the right balance of coal qualities and quantities to the power station. working could have positive benefits in the form of clearance of dereliction, improvement of poor quality land, landscape improvement and the creation of recreational facilities. :MORE: | energyi | |
09/5/2003 14:29 | Scottish Coal SCOTTISH COAL FIRED UP BY NEW FINANCIALS Scottish Coal a subsidiary of Mining (Scotland) Limited, has a turnover of £160 million and produces over five million tonnes of coal per year. Its deep mine at Longannet accounts for 40 percent of the volume of coal produced whilst open cast mining at numerous sites around Scotland accounts for the remainder. Its primary markets are electricity generation and industrial companies in Scotland, England and Ireland. ... David McInnes, procurement manager at Scottish Coal, explains: "When we acquired British Coal's Scottish mining assets, we inherited a multitude of legacy systems. Many of these systems were not appropriate for the demands of a modern, progressive mining company. We decided to go to tender for a new system that could handle our current requirements with the scope and flexibility to allow for the company's future development. | energyi | |
09/5/2003 14:20 | OPEN CAST MINES in Scotland: ??? Opencast mining - which now accounts for over a third of UK coal output Opencast coal reserves in Scotland are almost all within the Central Belt = = = = = SCOTTISH Coal is expected to receive a #9.75m grant from the executive next month to build a railway line that will remove thousands of lorry journeys from the road network every year. 75m grant from the executive next month to build a railway line that will remove thousands of lorry journeys from the road network every year. The company, owned by Mining (Scotland) Limited, asked the executive in December 1999 for #14m to construct seven miles of new line between Auchinleck and its open-cast coal mine at Cronberry in Ayrshire. Mining (Scotland), whose chairman is Professor Ross Harper, is expected to fund the remaining #4m cost of the #13.7m project, which will transport coal to Longannet power station in Fife by rail rather than road. Shallow Coal Opencast ... APPLICATIONS Waterslap, Airth Application F/97/0831 consent granted (Millstone Grit & Fireclay Ltd) Extension to existing site to extract 6,000 tonnes. Subject to appeal. Hareburn, Avonbridge Application F/97/473 (Banks) - Council agreed to grant subject to Section 75 agreement. 300,000 tonnes of coal plus 40,000 tonnes of fireclay. Granted May 2000. Wester Jawcraig, Application F/97/18 (Millstone Grit & Fireclay Ltd ) - Near Slamannan Council agreed to grant consent subject to Section 75 agreement. 160,000 tonnes coal plus 20,000 tonnes fireclay worked over 18 months. Application withdrawn. Canada Wood, near Falkirk Application (F/98/0390) (Hall Construction). Application withdrawn. 45,000 tonnes over 2 years 8 months. Fencehillhead, by Avonbridge Workings incomplete, operator in liquidation. | energyi | |
09/5/2003 14:09 | Man-made and man-used underground structures in Scotland. By Paul W Sowan ... Coal Mines Scotland once had a very large numbers of coal mines, in several large and numerous small coalfields, most of which were in the 'central valley' between Edinburgh and Glasgow, or a little to the north of this. Smaller coalfields were worked elsewhere, as for example in Ayrshire. By 1991 only one large coalmine remained in operation by British Coal, that at Longannet near Kincardine. There were also about 10 small privately operated coal mines working in various places. An unusual coal mine, worked privately in Jurassic rather that Carboniferous coal seams, once operated at Brora on the north east coast, but this closed at some time the last 30 years. :MORE: | energyi | |
09/5/2003 14:04 | THE PAST... The Old Argument Longannet Mine This is a valuable source of very low sulphur coal with readily accessible reserves for the whole of the plan period. The surface disturbance by the operation is very small with all access to the reserves from the existing surface installations. It is not necessary to disturb any additional land. The mine directly adjoins Longannet Power Station which also has all the necessary infrastructure already installed, including transmission systems. Coal is delivered from Longannet Mine direct to the Power Station by short conveyor. There is no road or rail transport involved. This is a highly secure source of supply with a committed workforce who are currently accessing the new Kincardine Reserve area where greater geological certainty has been predicted. Conclusion Longannet Mine, with the associated opencast production, is suggested to be not only a valuable contributor to Scotland's needs but an essential part of a secure, diverse National Energy Policy. As it is highly unlikely that a similar low sulphur reserve area could be found or worked economically by underground means elsewhere, this particular mine therefore assumes an even greater strategic importance. It is therefore suggested that Scotland, and the rest of the UK, needs coal to be part of a future balanced energy portfolio if demand is to be met and the public/political opposition to other sources inevitably intensifies. | energyi | |
09/5/2003 13:56 | DEFINITELY GONE Flooding shuts down Scotland's last colliery 26 April 2002 A catastrophic flood at Longannet coal mine has forced mine owners Scottish Coal into provisional liquidation and brought Scottish underground coal mining to an end for the foreseeable future. In only 10 minutes, some 17 million gallons of water is reported to have flooded Scotland's only surviving colliery, cutting off ventilation throughout the mine and leading to all power being shut down. With the possibility of a further surge of 50 million gallons, plus the expected deterioration of the mine infrastructure and equipment in the absence of pumping, Scottish Coal ended production and called in the receivers on Good Friday. On 4 April, the provisional liquidator for Longannet, Bryan Jackson from PKF, confirmed that there had been no serious interested parties expressing interest in the mine. At an estimated cost of at least £50 million to resume operations, government support is likely to be necessary to attract a private buyer. However the mine had already received £41m from the UK Coal Operating Aid scheme, and despite Mining Scotland's investment of more than £55 m, it was still losing money. Mining had only recently resumed following earlier geological problems. | energyi | |
09/5/2003 13:50 | GONE 16 July 2002 £1.6M GOVERNMENT CASH TO HELP LONGANNET MINERS Around £1.6 million pounds in Government support for the Longannet miners, amounting to £5000 each, will be welcomed as good news, Scottish Secretary Helen Liddell said today. Mrs Liddell said: "The £5,000 per head for ex-British Coal miners at Longannet deep mine will be welcomed by miners and their families. The payments will go some way to relieve some of the obvious difficulties resulting from the closure of the mine." The payments will be made to mineworkers at Longannet who transferred from British Coal at privatisation and who are not already in receipt of British Coal redundancy payments. | energyi | |
09/5/2003 13:42 | Clydeport deal for Longannet ScottishPower has signed a seven-year agreement with Peel Holdings, owners of Clydeport, for the management of imported coal deliveries to its Longannet power station. Scottish Power said that the deal is estimated to generate £70m of incremental value over the seven year term. | energyi | |
09/5/2003 13:26 | Palmaris losses cut after closure of Longannet by Iain Dey MINING investment firm Palmaris Capital said it was reaping the benefits of the closure of Scotland's last deep-shaft coal mine yesterday, as it posted narrowed first half losses. The company's main asset is its 23 per cent of Mining Scotland, which was forced to close the Longannet coal mine in Fife - with the loss of about 350 jobs - after the main shaft unexpectedly flooded. Across its entire business, Palmaris said losses narrowed to £111,000 in the six months to 31 December 2002, against £187,000 in the previous six months. In a statement, chairman Tim Noble said: "Following the closure of the loss-making Longannet deep mine in March 2002 due to flooding, Mining Scotland has been able to reverse its fortunes." He added that Mining Scotland, whose primary concern is now a string of open cast pits spread across the country, will show pre-tax profits of £4.3 million for the six months to 30 September 2002 on a turnover of £50 million. Noble continued: "We believe the accounts for the full year to 31 March 2003 are likely to show pre-tax profits of approximately £10 million. "Our attributable share of these profits would be some £2.3 million, or 1.4p per fully diluted Palmaris share." Palmaris, formerly the Waverley Mining Finance company, re-listed on the AIM market almost two years ago. The shares closed flat in yesterday's trade at 7.25p. The improvement in the figures was also heavily influenced by a turnaround in its Palmaris Services division - a plant hire, security and guarding business operating in the west of Scotland which it acquired in 2001. Noble said this business continues to improve every month and is expected to be back in the black overall for the year to 30 June. The group's second-biggest asset, its 25.8 per cent holding in Australian gold-mining operation perseverance also made "positive progress". Its gold mine is expected to be able to produce gold at a level of 100,000 ounces per year at a cost of less than US$200 (£128) per ounce, by the end of 2004. | energyi | |
09/5/2003 13:03 | Scottish Coal's Longannet Mine Complex is the major supplier of coal to the station, which can consume up to 4.5 million tonnes of coal annually. ... It has four 600 megawatt (MW) units and burns coal which come mainly from Scottish Coal's Longannet deep mine complex clse to the station. 1. Longannet Power Station Kincardine-on-Forth, Clackmannanshire FK10 4AA. Tel: 01259 730631 Longannet Coal-fired Power Station sits beside the Forth Estuary near Kincardine. Visitor facilities include a Coal Mine Experience, which depicts how coal is won from the ground. - - - Located 2 miles (3 km) to the south east of Kincardine in Fife, on the shores of the Firth of Forth, Longannet Power Station is a 2304 megawatt coal-fired station, comprising four separate generating units. It has been operational since 1970 and for a time was the largest power station in Europe. Ash is produced by the power station at the rate of up to 4350 tonnes per day, much of it collected for environmental reasons before being expelled by the chimney. This is piped as a slurry to Preston Island (by Low Valleyfield), where it is deposited in artificial lagoons which were once salt pans. The level of ash is being built up and stablised by landscaping to reclaim the land from the Firth of Forth. Longannet is run by Scottish Power, a Scottish-American utility group based in Glasgow with an annual turnover of £6.3 billion. It takes coal by conveyor belt directly from the Longannet Colliery complex, the last deep coal mine in Scotland - - - - - PROJECT OUTLINE : Gas Reburn at Longannet Power Station This multi-partner European project led by ScottishPower aimed to demonstrate the economic and technical viability of gas-reburn technology. The EC awarded the project a grant under the THERMIE Programme in 1994. The gas-reburn system was installed on one of four 600MWe coal-fired boilers at ScottishPower's Longannet Power Station, making this the largest application of the technology so far in the world and the first application on a front-wall-fired boiler in Europe. This project was described in detail in THERMIE CCT Newsletter, Issue No 8 of May 1997. Commissioning The Unit was returned to commercial service in October 1996, which was followed by the final commissioning of the mechanical plant. The control system design provided for master pressure control of the boiler with the capability of initiating the automatic reburn system through 'soft' controls. The commissioning of these controls was delayed due to non-availability of the turbine plant associated with the Unit but was completed in the summer of 1997. Testing and Demonstration Testing commenced in May 1997 and continued through to July 1998. The programme comprised baseline, air staging and reburn tests. The tests were carried out at ~420MW and 550MW with 10%, 15%, 20% and 25% gas. In addition, parametric tests were carried out to identify the effect of changes in overfire air velocity, recycled flue gas flow rate and high and low burner firing patterns. Following all of the programmed tests an extended run of the system was carried out at loads up to 600MW over a period of five weeks. During this period the system was used by the plant operators without difficulty. The results indicated that, whilst air staging produced significant reductions in NOx, it also produced a substantial increase in carbon-in-ash (CIA) levels. With the introduction of reburn at 10% gas, NOx levels were seen to further reduce along with a marked reduction in CIA. This trend continued as the percentage of gas was increased, with the optimum NOx and CIA being produced at 20% gas. The CIA produced when operating with full reburn (20%) is typical of the other Longannet Units. Another benefit arising from the project was a more even temperature distribution across the boiler, leading to a flatter radiant superheater outlet temperature profile. This resulted from the increased mixing within the furnace. Conclusions - Reduction in NOx of up to 50% can be achieved with gas reburn technology. - The technology brings with it benefits in terms of reduced carbon dioxide ( CO2 ) and SOx through fuel substitution. :MORE: :STUDY: | energyi | |
07/5/2003 13:41 | I think I would buy PMS near to 6P | energyi | |
07/5/2003 13:10 | Psv standing @ A$0.185 today ,lots of capital gains losses from waverley days. | karzy | |
07/5/2003 11:24 | Have you seen this note on PSV? · Perseverance Corporation Ltd (PSV) carries out the business of gold mining and exploration in Victoria, primarily at the Fosterville project 20km north-east of Bendigo. · Infill drilling of the Phoenix shoot within the Fosterville project has increased the high grade resource based on a 4 g/t Au cut-off grade to 6,050,000 tonnes grading 5.9 g/t Au containing 1,150,000 oz. of gold. · The upgraded resource has 31% more ounces at a higher grade than the equivalent 4 g/t au resource announced in July 2002. · Mining studies point to initial integrated open cut and underground operations. Conditions in the Phoenix shoot suggest that substantial tonnages will be amenable to low cost, high productivity open stoping. · $3.74 million has been raised via a placement enabling acceleration of the exploration of the Fosterville lease concurrent with the company's feasibility activities. · Cash reserves at quarter end stood at A$6.21 million. FOSTERVILLE SULPHIDES Resources CLASSIFICATION TONNES GRADE . CONTAINED .................... High Grade Resources at 4 g/t Au cut off Measured... 1,435,000 : 5.9 . 274,000 Indicated.... 295,000 : 6.1 .. 58,000 Inferred... 2,970,000 : 5.6 . 543,000 Total...... 4,700,000 : 5.8 . 875,000 Global Resources at 1 g/t Au cut off Measured... 6,120,000 : 3.0 . 598,000 Indicated.. 2,700,000 : 2.3 . 196,000 Inferred... 8,780,000 : 3.3 . 946,000 Total..... 17,600,000 : 3.1 1,740,000 | sparticus2002 | |
07/5/2003 09:16 | Perseverance... FOSTERVILLE SULPHIDES Resources CLASSIFICATION TONNES GRADE AU G/T CONTAINED GOLD OZS High Grade Resources at 4 g/t Au cut off Measured 1,435,000 5.9 274,000 Indicated 295,000 6.1 58,000 Inferred 2,970,000 5.6 543,000 Total 4,700,000 5.8 875,000 Global Resources at 1 g/t Au cut off Measured 6,120,000 3.0 598,000 Indicated 2,700,000 2.3 196,000 Inferred 8,780,000 3.3 946,000 Total 17,600,000 3.1 1,740,000 | energyi | |
07/5/2003 08:24 | ARCHIVE 30 October 2001 WILSON ANNOUNCES FURTHER £6M BOOST FOR UK COAL INDUSTRY Coal mines in Scotland and Wales have received a further £6.4m injection from the Government. This takes the total amount of aid paid under DTI's scheme to assist the industry to over £137m. Brian Wilson, Minister for Energy and Industry, announced the payment of #5.4m to Longannet Mine in Scotland, and £1m to Aberpergwm Colliery in South Wales. Grants are made to assist mines with viable futures without aid through short-term market problems. Brian Wilson, Minister for Energy, said: "Coal has a continuing role to play in the energy needs of Scotland and the UK. I am determined that Longannet will be given every opportunity to achieve its full potential and this has been reflected in our support for the colliery. "I am very confident that this latest tranche of support will open a very bright future for Longannet." The Commission has approved payments as follows: - Aberpergwm Colliery (Anthracite Mining Ltd) - £1,031,066 - Longannet Mine (Mining (Scotland) Ltd) - £5,397,000 Notes to Editors 1. The money will be paid under the UK Coal Operating Aid Scheme, which was approved by the European Commission last year (15 November 2000; see press release P/2000/760). It applies to coal produced between 17 April 2000 and 23 July 2002, and provides support by the UK government for the UK coal industry. It is designed to allow mines with viable futures without aid to overcome short term market problems, caused in particular by low world gas prices and the lifting of the stricter gas consents policy on the building of gas-fuelled power stations in the UK. 2. Although the Scheme as a whole has been approved by the Commission, they also approve individual subsidy payments. The Commission has three months to consider an application for aid, but the DTI and the Commission have co-operated closely together to speed up the process as much as possible. 3. Aid is considered in three tranches covering the period 17 April 2000 to 23 July 2002. Tranche 1 covers 17 April 2000 to 31 December 2000 (£87.5m approved by the Commission); tranche 2 covers 2001 (£49.6m approved to date); and tranche 3 covers 1 January 2002 to 23 July 2002. Sixteen different collieries have received aid under the Scheme. 4. The payment to Longannet is in addition to grants of £17.5m and £18.3m paid under the first and second tranche periods respectively. However, in making their original applications Mining (Scotland) Ltd decided not to seek Commission approval for all the eligible costs detailed in their application and admissible under the Scheme. Due to unforeseen geological problems and major flooding at the mine, Mining (Scotland) Ltd requested that DTI seek Commission approval to pay the costs omitted from its 2000 and 2001 applications in August of this year. The Commission found that these costs were legitimate under the terms of the Scheme and authorised their payment on 17 October 2001. Anthracite Mining Ltd did not apply for subsidy in the first tranche period. 5. Today's announcement will take total payments under the Scheme to over £137m. The Scheme has an overall limit of £170m, although the government does not currently anticipate spending this amount. 6. All applications for aid under the Scheme are based on forecast losses. There is a reconciliation procedure whereby any excess of aid over actual losses is repaid to the Government. Nearly all payments made under tranche 1 have now been reconciled. 7. Further details of the Scheme are available at Public Enquiries: 020-7215 5000 | energyi | |
07/5/2003 07:53 | Palmaris NAV Backing/ 125mn shs x 6.75p: £8.43mn Asset --------- : Amount : Per Sh Mining Scotland : £6,440 : 5.1P Perseverance... : £3,903 : 3.1P : A$0.17/sh Other Assets... : £ ,126 : 0.2P TOTAL.......... :£10,500 : 8.4P Note: A$0.17/sh. x 46.65mn shs x £0.492 (25.8%x180.8mn) A A$0.01 move in PSV is worth: 0.18P | energyi |
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