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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
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Libra Natural | LSE:LNR | London | Ordinary Share | GB00B06CJZ79 | ORD 0.2P |
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Libra Natural Resources (LNR) Share Charts1 Year Libra Natural Resources Chart |
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Date | Time | Title | Posts |
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19/8/2008 | 15:05 | Libra Natural Resources | 3,035 |
19/8/2008 | 15:05 | LNR - Stock of 2008 | 157 |
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Posted at 22/5/2008 10:33 by turbotrader2 Result of General MeetingRNS Number : 0682V Libra Natural Resources PLC 22 May 2008 Press Release 22 May 2008 Libra Natural Resources plc (to be renamed FibreGen plc) ("the Company") Result of General Meeting Libra Natural Resources plc, the international biomass-to-energy company, announces that all resolutions put to shareholders at the General Meeting held today were duly passed. The full text of the resolutions is set out in the Company's circular to shareholders dated 30 April 2008 (the "Circular"). These included the change of the Company's name from Libra Natural Resources plc to FibreGen plc, the approval of the appointments of Richard Squires and John Stirling as Directors of the Company and a share consolidation on a 15:1 basis (the "Share Consolidation"). Under the Share Consolidation, each holder of ordinary shares of 0.2 pence each in the Company ("Existing Ordinary Shares") held at 5.00 p.m. (London time) on 22 May 2008, will have their Existing Ordinary Shares replaced with new ordinary shares of 3 pence each ("New Ordinary Shares"). Holders of Existing Ordinary Shares will receive 1 New Ordinary Share for every 15 Existing Ordinary Shares held. Application has been made to admit the 15,651,477 New Ordinary Shares arising from the Share Consolidation to trading on AIM, which is expected to occur on 23 May 2008 ("Admission"). Following the Share Consolidation and Admission, the admission to AIM and trading in the 234,772,157 Existing Ordinary Shares will be cancelled. The ISIN number of the New Ordinary Shares will be GB00B2R9BM23. Further details of the reasons for and mechanics of the Share Consolidation can be found in the Circular. The change of name to FibreGen plc is expected to become effective later today following the registration of the change with Companies House. It is expected that from 23 May 2008 the Company's New Ordinary Shares will trade under the new EPIC of "FBG" and the Company's 8 per cent. Guaranteed Convertible Bonds due 2010 will trade under the new EPIC of "FBGB". The Company will announce separately a change to its website to reflect its new name. Commenting on today's announcements, CEO Glenn Smith said, "We are extremely pleased to have completed the transformation of the Company to a focused biomass-to-energy company. Given recent significant increases in fossil fuel prices globally, we are excited by the prospects for our business activities across the residential, commercial and utility markets." - Ends - For further information: Libra Natural Resources plc Glenn Smith Tel: +1 206 366 5267 Mark Campanale Tel: +44 (0)7714 415 262 Landsbanki Securities (UK) Ltd Nominated Advisor Gareth Price/Simon Brown, Corporate Finance Tel: +44 (0) 20 7426 9000 Liberum Capital - Broker Ellen Francis / Simon Atkinson, Corporate Finance Tel: +44 (0) 20 3100 2000 Media enquiries: Abchurch Tel: +44 (0) 20 7398 7700 Joanne Shears / Justin Heath Tel: +44 (0) 20 7398 7709 joanne.shears@abchur NOTES TO EDITORS Libra Natural Resources plc (to be renamed FibreGen plc) Libra Natural Resources plc is a focused biomass-to-energy business, producing wood pellets and wood chips for sale to retail consumers (for home heating and animal bedding) as well as to,commercial and industrial customers for heat and power generation. The Company announced its strategic intention in December 2007 to increase significantly the size, scale, and range of its investments in its wood pellet business and to become a leading international biomass to energy business. The Company operates four biomass businesses in North America: * at Princeton, British Columbia, Canada which produces wood pellets; * at Westbank, British Columbia, Canada, which produces wood pellets and wood shavings; * in Louisa County, Virginia, US which produces wood chips and which is planned to have a wood pellet production; and * at Omak (WA), Hauser (ID), and (under construction) Shelton (WA) producing wood pellets and other products. The Company also has an MOU for a joint venture vehicle with Chinese and Canadian partners, to develop a plant by the end of 2008 with initial capacity of 100,000 tons of biomass fuels for sale to the Chinese power station market. The Company also owns the project site and development rights for a wood pellet production facility in West Kootenay, British Columbia, Canada. This information is provided by RNS The company news service from the London Stock Exchange END |
Posted at 01/5/2008 20:52 by spital23 Hi All not into this stock but seen this on Growth Company Investor today so thought I would post it for you - free of charge - good luck to allLibra Natural Resources - SPECULATIVE BUY Companies: LNR 01/05/2008 Green energy investor Libra is offloading its other interests to focus on its wood waste-to-energy operations in North America, and is undergoing a name change to FibreGen to reflect this. The company owns two facilities in British Columbia, Canada, which from this year onwards will produce 131,500 tons of wood pellets and shavings per annum, and a wood chipper in the state of Virginia where production capacity is being expanded to 183,000 tons. Another pellet producer, based in the US Pacific Northwest, was acquired this April in a move adding 128,000 tons of annual capacity and turning the group into the globe's sixth largest producer the aim is to produce 1.5m tons by the end of 2009. Libra's revenues come from retail and commercial customers, which burn the wood for heat, since it is cheaper than coal and natural gas. Furthermore, the company ships to Europe to sate demand from coal-burning power stations that need to burn a percentage of biomass under environmental stipulations. A recent joint venture was agreed in China and as it is 'going well' it could soon be extended from one power plant to 17, with Libra taking 25% of the equity and carbon credit rights. Results for 2007 show turnover swelled 313% to £9.7m, with operating losses increased to £1.2m, although the post-tax loss on the biomass business narrowed three-quarters to £96,000. Cash of £1.9m remained at year-end. New chief executive Glenn Smith sees 'superior returns' and the ability to 'aggressively' scale the business 'vertically', by moving upstream into the ownership of wood-growing assets and downstream to taking shares in biomass power production. The time is ripe, he stresses, as 'first-mover' advantage will allow the group to secure these assets or agreements more easily. Libra, whose green credentials are good, as all wood input is derived from logging and other wood-related waste, all of which are from sustainable forests, could attract fans. Growth Company Investor subscribers have full access to all our AIM and small-cap share recommendations. To subscribe today with a half-price offer, and gain immediate access to all the recommendations, click here. Oliver Haill Market cap: £14. 32m PE Forecast: n/a Share price: 6.12p |
Posted at 25/4/2008 07:06 by barryrog sg31,if you bought at 10p then i presume you have been a holder for about 6 months. LNR is no different from the vast majority of small caps/micro caps whose shares have plummeted during this period of time. this is market sentiment, not performance a lot of these cos. are trading at low single digit p/e's. a lot on here criticise Greensmith but as Bubface said, the guy invests a lot of his own money - his holding in LNR is in the region of 11 mill shares and his last buys were at 12.75p.. its easy to use him as a scapegoat but i own more shares than the other Directors and quite honestly, even in the current climate, if they showed the same commitment as him, that might be reflected in an improved share price. yes they have made a lot of mistakes in the past but i for one believe that the total focus on wood pellet production and growth is exactly right in todays environment and climate and i am gonna give them a chance to see if this proves to be the case. |
Posted at 20/4/2008 20:48 by irishelf wirral, Good posts I agree with your sentiment I have been in LNR since I paid 15.7p for my shares, this company has been appalling in several ways obviously the share price and the news management from the directors is atrocious.Oh I have seen the major7 on other BB I think your assessment is probably spot on. I am not sure if I should dump the LNR shares I have and salvage what little is left. |
Posted at 10/4/2008 08:10 by barryrog wirral,whether Promotheus is AIM listed or taken private is of little consequence now to LNR. i think we all pretty much agree that the dabbling in non core investments in the past has been pretty much a disaster for LNR and that has been reflected in the share price demise. as i posted earlier in the week, their holdings in Evergreen Securities become balance sheet paper transactions and whether they perform well or badly is pretty irrelevant because it looks like they never had the option to get cash for their non-core investments anyway. |
Posted at 03/4/2008 11:29 by turbotrader2 BUY3 April 2008 Libra Natural Resources PRICE: 6.75p | US/CANADA | RENEWABLES | LNR.L | LNR.LN n Building the No. 1 wood pellet producer Libra Natural Resources (LNR) has stated that its aim is to build the world's number one producer of wood pellets over the next 24 months with a total capacity of around 1.5 million tons, thereby making it the largest supplier of wood biomass fuels for renewable electricity generation and heating. n From an existing current production capacity of 131,500 tons of wood pellets and 100,000 of wood chips, LNR intends to be a major consolidator in North America of wood pellet companies by making a number of carefully selected and strategic acquisitions. In addition, the company plans to build a number of green field developments where the appropriate long-term feedstock and off-take agreements are in place. n LNR currently has over 1.5 million tons of new or existing production facilities under exclusive option, development and/or due diligence for the objective of becoming the world's leading producer of wood pellets. n As a first step, LNR has today announced the acquisition of Coeur d'Alene Fiber Fuels Inc., a profitable US producer of wood pellets. The company owns three plants, which together will have a total annual production capacity of 120,000 tons by YE 2008. In aggregate this is expected to give LNR a total capacity by year-end of 321,000 tons of wood pellets and 100,000 of wood chips. n LNR also announced today signing Heads of Agreement to form a Joint Venture in China for the production of straw and rice husk biomass with a major northern Chinese wood pellet company and a Canadian biomass products company. A demonstration plant has been constructed. Considerable expansion is expected over the coming years. n LNR is to divest all of its non-wood pellet/biomass interests, transferring them to Aim-listed Ethanol Investments plc in return for shares in that company. It is LNR's intention to reduce its holding in that entity over time, generating cash for the Company. n Libra Natural Resource is shortly to change its name to "FibreGen plc" (subject to shareholder approval at the next AGM) to reflect the Company's sole focus on building the world's number one producer of wood pellets. Nick Walker +44 (0)20 3100 2267 nick.walker@liberumc Nick Walker Head of Renewables Tel: +44 (0) 20 3100 2267 Fax: +44 (0) 20 3100 2099 Mob: +44 (0) 7983 959063 Nick.Walker@liberumc www.liberumcapital.c |
Posted at 03/4/2008 06:06 by chris1981 Operational UpdateRNS Number:4902R Libra Natural Resources PLC 03 April 2008 Press Release 3 April 2008 Libra Natural Resources plc ("LNR" or "the Company") Acquisition of leading North American wood pellet company Expansion into Chinese biomass market De-merger of remaining non-wood pellet assets Proposed name change to FibreGen plc Libra Natural Resources plc, the international waste-to-energy company, today announces a series of major strategic moves which create a focused biomass-to-energy business, and provide the platform for the accelerated development of a significant force in the international renewable energy marketplace. Highlights * Acquisition of Coeur d'Alene Fiber Fuels Inc ("CAFF"), a leading, profitable US producer of wood pellets, for U$3million, rising to U$9million on profitability milestone achievements between 2009 and 2014. * This acquisition approximately doubles LNR's wood pellet capacity, revenues and EBITDA, and brings modern, state-of-the-art pellet facilities with in-situ scale up potential. The Company is now 2nd largest producer in North America, 6th largest in the world. * Heads of Agreement signed with leading Chinese and Canadian partners, creating a joint venture vehicle to provide biomass pellets to the Chinese power station market. * De-merger of all remaining non-wood pellet operations to Evergreen Securities plc, completing the transformation of the Company into a pure biomass-to-energy entity, as previously outlined. * The Company proposes to change its name to FibreGen plc, reflecting the creation of a major, focused force in the biomass-to-energy sector. Glenn Smith, Chief Executive Officer of Libra Natural Resources plc, said: "With today's announcement, the Company completes its promised transformation into a focused international biomass-to-energy business. The acquisition of Coeur d'Alene Fiber Fuels Inc, which almost doubles the size of our core business, represents a powerful statement of intent to become the world's leading producer of wood pellets for bio-energy generation. The proposed formation of our Chinese joint venture, with strong in-country and experienced partners, emphasises the Company's commitment to prudently grow our business internationally, where the right opportunities present themselves. "The Board intends to make FibreGen plc a major force in one of the most exciting sectors of the international renewable energy marketplace. We will continue to focus on developing a global presence in the wood pellet and biomass-to-energy market, and to offer shareholders a company which delivers environmentally friendly profitability and growth. Today's news represents the start of the development of the Company into a major global force in the international renewable energy sector, and the Board looks forward with real confidence to the future." - Ends - For further information: Libra Natural Resources plc Glenn Smith Mark Campanale Landsbanki Securities (UK) Ltd Nominated Advisor Gareth Price/Simon Brown, Corporate Finance Tel: +44 (0) 20 7426 9000 Liberum Capital - Broker Ellen Francis / Simon Atkinson, Corporate Finance Tel: +44 (0) 20 3100 2000 Media enquiries: Abchurch Tel: +44 (0) 20 7398 7700 Joanne Shears / Justin Heath Tel: +44 (0) 20 7398 7709 joanne.shears@abchur www.abchurch-group.c Existing business The Company already operates three profitable wood biomass fuel businesses in North America with a current total capacity of 131,500 tons of wood pellets and 100,000 tons of wood chips: * a plant at Princeton, British Columbia, Canada which has capacity of 74,000 tons of wood pellets and which was acquired in March 2006; * a plant at West Bank, British Columbia, Canada, which has a capacity of 57,500 tons (of which 80% is wood pellets and 20% is wood shavings) and which was acquired in December 2006; * a wood chip production facility in Louisa County, Virginia in the US which currently has a 100,000 ton annual wood chip capacity, and which was acquired in October 2007. As announced in December 2007, key equipment has been ordered and is currently being manufactured for delivery later this year. Wood pellet operations are due to begin at the beginning of 2009 with a capacity of approximately 70,000 tons. The Company also owns the development rights for a wood pellet production facility at West Kootenay, British Columbia, Canada which was acquired in August 2007. Following the transactions below the Company is expected to have a total capacity by the end of 2008 of 321,500 tons of wood pellets and 100,000 tons of wood chips Acquisition of Coeur d'Alene Fiber Fuels Inc Background to, and reasons for, the Acquisition It is the stated intention of the Board to position LNR as the leading producer of wood pellets by the end of 2010. To achieve such an ambitious objective requires carefully targeted, synergistic acquisitions and greenfield developments where the appropriate long-term feedstock and off-take agreements are in place. The acquisition of CAFF represents an important next step in the achievement of this goal, bringing with it a major increase in LNR's overall market presence, significant potential synergistic benefits and enhanced operational and management expertise. * CAFF's forecast 2008 production of over 95,000 tons will almost double the size of LNR's existing wood pellet operations, moving the Company from being the 9th to the 6th largest producer in the world; * The proximity of CAFF's plants to LNR's existing British Columbia-based facilities will potentially provide significant feedstock supply, customer and management synergies. CAFF's Omak, Hauser and Shelton plants are all within two to three hundred miles of LNR's existing Princeton and Westbank facilities and less than 100 miles from LNR's proposed West Kootenay project in British Columbia; * CAFF plants have traditionally been very strong in the important bagged fuel market along the west coast of the United States, and area where LNR has historically had to rely on indirect, third-party distributors; * CAFF, although active in the animal bedding and baled shavings markets, does not have the market presence of LNR in either market, and may benefit from utilising the Company's significant presence in both of these high margin, niche-sectors. * LNR has reached agreement with Mr Eric Hanson, CAFF's majority owner and CEO, for Mr Hanson to assume a senior management role within the enlarged LNR. Information on Coeur d'Alene Fiber Fuels Inc Coeur d'Alene Fiber Fuels Inc ("CAFF") was established in 1986 and conducts business under the trade names of Atlas Pellets and Atlas Industrial. CAFF operates 2 wood pellet production facilities located in Omak, Washington (which has a capacity of 25,000+ tons per annum) and Hauser, Idaho (which has a capacity of 40,000 tons per annum), with a third facility under construction in Shelton, Washington of 55,000 tons (N.B. already fully financed and due to become operational in late Q3 2008). The business is family owned and managed, employs 45 staff, and is an S -Corporation registered in Idaho. CAFF produces several brands of high quality wood pellets for the bagged fuel market, which are sold in the western half of the USA to several hundred long term customers who buy on an annual basis. CAFF also produces small quantities of animal bedding, and baled shavings. In its unaudited results for the year ended 31 December 2007, CAFF generated turnover of U$8.9m and EBITDA of U$1.5m. Net assets were U$3.34m at that date. These results cover a full 12 months of production for CAFF's Omak facility, and approximately 6 months for the recently commissioned Hauser plant (N.B as stated, CAFF's Shelton plant is under construction, and is due to come on stream during 2008). Principal terms and conditions of the Acquisition The maximum total purchase price is $9million, $3million of which will be immediately satisfied by the issue of 23,566,379 new Ordinary Shares (the "CAFF Consideration Shares") in LNR. The number of New Ordinary Shares to be issued was determined on the basis of the volume weighted average price ('VWAP') of LNR shares over the ten business days prior to today's announcement. The vendors of CAFF have agreed to certain orderly market restrictions on the sale of the CAFF Consideration Shares for the first six months after issuance. In addition to this initial U$3million, a conditional deferred consideration of up to a maximum of U$6million will become payable if CAFF meets certain increased trading and profitability targets for the twelve month periods ending 31 December 2009 to 30 December 2014 (the "earn-out years"). Such conditional deferred consideration will be payable, in tranches of U$1million per annum, in each of the earn-out years in the form of additional New Ordinary Shares. The issue price for any such deferred New Ordinary Shares issued will be determined by reference to the VWAP over the 90 consecutive trading days prior to December 31st of the relevant earn-out year. Expansion into Chinese biomass market LNR has reached heads of agreement for the formation of a joint venture company with Heilongjiang SY Renewable Energy Co. Ltd ("SY Energy") of Heilongjiang Province, China and SBC International ("SBC") of British Columbia, Canada The purpose of the Chinese joint venture is: * initially in the Jiangsu Province of China , to construct, commission and own a series of facilities for the production of biofuels from corn residues, rice husks, rice stalk, agricultural straw-based biofuels and other woody biomass products; * to market and sell the output for use in the generation of energy or ancillary services from biomass-fired and coal-fired power plants, initially in the Jiangsu Province of China and * to market and sell any and all environmental attributes (principally carbon) resulting from the production, sale and use of products produced. Key operational and strategic details * LNR will own approximately 25% of the equity of the joint venture; * LNR will provide marketing and sales services to the joint venture, relating to all carbon related credits or attributes ascribed to the operations of the joint venture. SY Energy and SBC will provide operational management, logistics and administrative services to the joint venture and each of its operational facilities; * To reflect the relative ongoing management and operational contributions, and the capital contributions to date, made by its proposed partners, LNR will provide up to 34.8% of the future capital requirements of the joint venture; * SBC has constructed and commissioned a 50,000 tons per annum demonstration facility (the " demonstration facility"), on land owned by the proposed off-taking power utility, in the city of Baoying, Jiangsu Province, China. The demonstration facility, ownership of which will be assumed by the joint venture, commenced operations on March 1, 2008, with development costs provided by SY Energy and SBC; * It is the intention of the joint venture to further develop this demonstration facility into a 100,000 tons per annum operational plant, with full production in place by the end of 2008; * The estimated total initial investment (including development costs to date) for this first 100,000 ton operational plant is 8,500,000 Chinese Yuan (U$1.15m); * Off-take, 'take-or-pay' contracts for an initial 100,0000 tons output are under detailed negotiations with a local power company and owner of 22 power generation plants in Jiangsu Province, 17 of which are 100% biomass fuelled; * Full terms of any off-take agreement will remain commercially sensitive, but initial indications suggest potential for very attractive profitability and ROI and scale-up * The strategy of the joint venture is to produce 1 million tons of biofuels by 2010, moving to 5 million tons by 2012. De-merger of remaining non-pellet assets Further to the announcement of 18 December 2008, LNR is pleased to announce that it has signed binding Heads of Terms with the AiM-listed renewable energy company, Ethanol Investments plc ("EI"), for the sale of LNR's entire 11.55% stake in Prometheus Energy. In addition to this sale, LNR has agreed to sell EI certain other minority stakes, comprising the remaining non-wood pellet investments held by the Company. The sale of these stakes, which is subject to EI shareholder approval, values LNR's non-core assets at £2.68 million, and leaves LNR entirely focused on its core biomass-to-energy operations As consideration, LNR will receive new EI plc shares, giving the Company an estimated stake of approximately 24% in Evergreen Securities plc, the new name for EI following its scheduled re-listing on AIM next month. LNR has undertaken not to dispose, other than in certain specified circumstances, of the EI shares to be issued to it as consideration for the sale of these assets, for a limited period following their issue. It remains, however, the intention of LNR to reduce this holding over time, as EI expands its operations and dependent upon LNR's ongoing financing requirements. Proposed name change To reflect the completion of the re-positioning of the Company as a focused biomass-to-energy company, it is proposed to seek shareholder approval at the next Extraordinary General Meeting to change the name of the Company to ' FibreGen plc'. Issue and Admission of New Shares Further to completion of the acquisition of the West Kooteney development rights and Virginia plants referred to in the description of the existing business above, the Company has issued 450,451 new Ordinary Shares and 436,927 new Ordinary Shares as share consideration in relation to each acquisition respectively. The Company has also issued 1,076,588 new Ordinary Shares to an ex-employee as part of a settlement contract upon leaving the Company. Application has been made to AIM for the admission to trading of these 1,963,966 new Ordinary Shares as well as the 23,566,379 CAFF Consideration Shares. The aggregate 25,530,345 new Ordinary Shares, which will all rank pari passu with the existing Ordinary Shares, are expected to be admitted to trading on 9 April 2008. The total number of shares in issue will, following these issues, be 232,605,191. |
Posted at 26/2/2008 11:12 by barryrog Tommy,if a bid came in at say 15p a share, the Instis would assess that bid against how long they are likely to have to wait for the share price to rise beyond that level if they didn't support the bid. quite frankly, as good as the product is there is no real evidence that the current mgt can realise the full potential here and also it is not clear how much cash injection is needed to accelerate the growth plans in order to bring about a rapid recovery in the share price. i would also be asking to what extent Greensmith's personal agenda has influenced decision making in the past and what influence he can still exert over future decisions. ps i spoke to Heather Salmond and she has forwarded the article to the Board and said that they (Abchurch) were waiting for a release - whatever that is supposed to mean. . |
Posted at 26/2/2008 09:37 by barryrog major,the share price performance would suggest you could be right but i think the mgt's view would be that they are creating the foundations to fulfil their plans to become the world's largest wood pellet producer and a takeover at this stage would be the last thing on their agenda. having said that, a bid at a significant premium would probably win the day as the big Institutional investors would probably now support a takeover having seen the mgt here produce a lot of hot air but do nothing to raise the profile of the co. or take steps to improve the share price. |
Posted at 22/2/2008 12:38 by barryrog i have an awful lot of these shares (by my standards) and i'll be happy to add more as and when i am convinced that good progress is supported by regular newsflow.its a fact of life that when investing in microcaps, the nature of the beast dictates that long periods of silence will generate pi selling whatever the long term prospects may be. with hindsight, selling at 10p and buying back 25% more shares for the same money at these levels would have been the right thing to do. now many of you will say - yea but life's not like that and hindsight is a wonderful thing etc.etc. but good news producing a rise in the share price needs to be subject to regular updates otherwise the price spikes will be followed by drip drip sells leading to share price falls and punters will see that. without regular newsflow, whats been happening to the share price for the last 6 months from a charting point of view will become the norm and thats how the shares will be traded. this trend will only be broken by a positive RNS thats followed by regular updates. |
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