Upstream Share Discussion Threads

[master rsi] 13/11/2024 16:32

How the UPS are performing during last month

[master rsi] 13/11/2024 16:11

How the UPS are performing today

[master rsi] 13/11/2024 15:58

KEFI 0.603p /Kefi Gold launches strategic review of GMCO joint venture
(Sharecast News) - Kefi Gold and Copper announced a strategic review of its stake in the Gold and Minerals (GMCO) joint venture in Saudi Arabia on Wednesday, which it holds with majority partner Abdulrahman Saad AlRashid & Sons (ARTAR).

The AIM-traded firm said that as part of the review, it would forego a $10m investment to maintain its 25% interest, resulting in a reduction of its stake to 15%.

Kefi said it was also evaluating the potential sale of its remaining 15% stake in GMCO, with proceeds from any future sale potentially providing further capital for the company.

The board said the decision reflected Kefi's strategic priority on majority-owned projects, particularly the Tulu Kapi Gold Project in Ethiopia, which was nearing financial close, as well as its significant exploration pipeline in the region.

ARTAR had solely funded GMCO's recent exploration activities, covering Kefi's share, with the dilution based on the historical cost of investments by both partners.

Kefi said it believed any potential sale of the 15% stake could yield a premium, though there were no guarantees.

GMCO, which had spent around $80m on discoveries and feasibility studies, was preparing for significant growth and had outlined a two-stage development plan for its key projects - the Hawiah Copper-Gold-Zinc-Silver and Jibal Qutman Gold deposits.

Initial development would focus on open-pit mining of shallow oxide ores with carbon-in-leach processing, followed by further exploration and expansion to access deeper resources.

Additionally, GMCO said it was set to expand its regional exploration efforts, drawing on its extensive experience and data from 15 years of exploration in Saudi Arabia.

Over the next six months, Kefi and ARTAR would assess strategic options to maximise GMCO's growth and value, ensuring alignment with Kefi's focus on its majority-owned projects.

"Both of Kefi's host countries, Saudi Arabia and Ethiopia, have recently pivoted towards an improved environment for mining," said executive chairman Harry Anagnostaras-Adams.

"And the gold price is at all-time highs. In that context, Kefi considers it important that the two operating partnerships play to their strengths and capitalise on the market dynamics in each country.

"Today's announcement of the strategic review at GMCO reflects that the partners will, over the next six months, review various scenarios to determine the best way forward for the joint venture to build on its successful discoveries and feasibility studies."

Anagnostaras-Adams said that in the meantime, the Kefi board believed it was in the best interests of shareholders to remove the outstanding exploration liabilities with a consequential reduction in the company's stake in GMCO.

"Kefi has made it clear that the priority for its capital is to now optimise shareholder value via majority-owned projects."

[master rsi] 13/11/2024 15:31

BITCOIN/ BTC

Another spike UP with $4.000 today to $91,945

[master rsi] 13/11/2024 15:08

EEE 6.25p +0.35p (5.93%)to move forward with a large volume

Today have decided to move forward with a volume 2.59 Million



Big charts...

[master rsi] 13/11/2024 14:47

DOW

On the up with 82 points

[master rsi] 13/11/2024 14:12

Cordel hails two new contract wins with railway operators

(Alliance News) - Cordel Group PLC on Wednesday said it has won two new contracts with two different railway companies.

The London-based company, whose flagship platform uses artificial intelligence to supply transport corridor analytics, said the first contract was to process clearances for Aurizon Holdings Ltd, which is "Australia's largest rail freight operator".

Cordel will provide automated, AI-enhanced clearance assessments across part of Aurizon's 5,100 kilometre rail network.

The second contract was with UK passenger train operator SE Trains Ltd, which trades under the name Southeastern. Cordel will help to "optimise the accessibility of new trains" for the company.

These trains will form part of the "new or upgraded fleet" that Southeastern is developing to "support growing demand, provide better customer facilities and improve accessibility".

Shares in Cordel were up 5.3% at 7.11 pence each in London on Wednesday afternoon.

[master rsi] 13/11/2024 13:39

TGL 124.20p +1p / Regional REIT upbeat on third-quarter performance
(Sharecast News) - Regional REIT issued a positive third-quarter trading update on Wednesday, marked by a 9.3% increase in new letting income this year.

The London-listed real estate investment trust said supported by a £110.5m equity fund raise, it repaid a £50m retail bond and allocated funds to reduce bank facilities and enhance its portfolio with capital projects aimed at boosting earnings and long-term value.

High tenant retention remained a feature of the quarter, with 77.7% of the rent roll up for renewal retained, and 55 new tenant leases totaling 161,668 square feet secured year-to-date, contributing £2.6m in annual rental income.

The capital raise was driving refurbishment projects, including a £2.7m upgrade at Ashby Park, which led to a 10-year lease with Ashfield Healthcare and Q Collection UK, generating £0.5m in annual rent.

Regional REIT declared a third quarter dividend of 2.2p per share, continuing its commitment to dividend distributions.

On the ESG front, Regional REIT said it was advancing its sustainability goals with a portfolio EPC improvement aligned with its target of achieving an EPC B rating by 2030.

The company added that its GRESB score increased to 73, earning a two Green Star status.

Despite a subdued investment market, Regional REIT said it remained focused on portfolio repositioning to capture further growth opportunities, while maintaining dividend distributions and advancing its sustainability agenda.

"The group continued to trade well, achieving strong rent collection and lease retention for the quarter, with an average rental income uplift of 9.3% for the year to 30 September, against a backdrop of uncertain market conditions," said Stephen Inglis, head of the asset manager, ESR Europe LSPIM.

"The deployment of the capital raise proceeds into capital accretive projects has commenced at a pace with eight projects in course for a total investment of £15m.

"We have already completed the full refurbishment project at Ashby Park, Ashby De La Zouch leading to a new 10-year lease generating £0.5m pa rental income."

At 1252 GMT, shares in Regional REIT were up 0.81% at 124.2p.

[master rsi] 13/11/2024 13:09

DIY retailer Homebase set for administration and partial rescue
(Alliance News) - Homebase could be heading for a partial collapse, putting thousands of jobs at risk, amid reports that the chain has appointed insolvency experts with a potential buyer of parts of its 130-store estate also circling.

The DIY retailer is reportedly lining up insolvency practitioners at the Teneo consultancy, which could see it placed into administration.

Retail magnate Chris Dawson, who owns The Range homeware outlets, is also reportedly planning a last-minute rescue deal which could see him buy as many as 70 Homebase stores.

If the buyout deal goes ahead, it could see about 1,500 jobs saved, but at least 1,700 others would still be in doubt, Sky News reported.

Homebase was bought for GBP1 by investment firm Hilco Capital, which has since brought in a swathe of cost-cutting measures.

But the retail chain has struggled as customers cut back on spending amid the cost-of-living crisis, and reported an GBP84.2 million loss last year.

In August, Sainsbury's struck a deal to buy 10 Homebase stores and convert them into supermarkets.

Homebase declined to comment, while Teneo and The Range have been contacted for comment.

It comes after a hunt for a buyer from Homebase's current owners which is thought to have lasted for the last two months.

Mr Dawson is also in talks to buy Homebase's 40-year-old brand and its website, in a deal which could cost about GBP30 million.

The businessman, whose CDS Superstores acts as parent company to The Range, bought parts of high street retailer Wilko after it collapsed last year.

He told the Telegraph newspaper: "We are delighted to be able to save so many stores and jobs, and look forward to adding the Homebase brand and subsidiaries to the expanding Range group of companies."

The Range sells homeware and DIY products from its more than 200 store estate in the UK.

[master rsi] 13/11/2024 12:22

How the UPS are performing during last month

[master rsi] 13/11/2024 12:02

How the UPS are performing today

[master rsi] 13/11/2024 11:52

Fuller sees profit rise as it stays on track to meet expectations

(Alliance News) - Fuller, Smith & Turner PLC on Wednesday reported an improvement in interim profit as it revealed it is on track to meet market expectations for the full-year.

In the six months to September 28, the London-based pub chain said pretax profit rose 95% to GBP29.0 million from GBP14.9 million the prior year, bolstered by the disposal of The Mad Hatter in July for GBP20 million.

On an adjusted basis, pretax profit rose 21% to GBP17.6 million from GBP14.5 million as Fuller reduced its utility costs through lower energy consumption and continued its focus on cost management.

Revenue for its first-half increased by 2.8% to GBP194.1 million from GBP188.8 million the prior year, as like-for-like sales in its managed pubs and hotels grew by 5.2%.

Drink like-for-like sales grew by 4.9% on-year, with Food like-for-like sales up by 5.5%.

Fuller said it is on track to meet market expectations for its full-year and increased its interim dividend by 12% to 7.41 pence from 6.63p the prior year.

[master rsi] 13/11/2024 10:55

Boku inks new agreement with Amazon Japan

(Sharecast News) - Mobile payments firm Boku revealed on Wednesday that it has struck a new commercial agreement to supply digital wallet and other local payment methods to Amazon Japan.

Boku stated its new agreement with Amazon JP enabled the processing of payments through the amazon.co.jp website.

The AIM-listed group also highlighted that revenue from the new agreement will be based on the transaction value that it processes.

Chief executive Stuart Neal said: "This new agreement with Amazon JP is a testament to Boku's goal to provide innovative and secure mobile payment solutions to global merchants.

As of 1040 GMT, Boku shares were up 1.33% at 190.0p.

[master rsi] 13/11/2024 10:04

Flutter upgrades guidance following strong third-quarter

(Alliance News) - Flutter Entertainment PLC on Wednesday upgraded its full-year guidance amid strong revenue growth in the third quarter.

The New York-based owner of Sky Bet and PaddyPower said its revenue grew 27% to USD3.25 billion in the three months that ended September 30 from USD2.56 billion a year prior, with growth in the UK and Ireland driven by a broader product range across sports and iGaming.

Outisde of the US, Flutter reported a good performance across all of its divisions throughout the period.

Adjusted earnings before interest, tax, depreciation and amortisation rose 74% to USD450 million from USD258 million the previous year.

Flutter shares were up 4.4% to 20,120.00 pence on Wednesday morning in London, giving the company a GBP35.94 billion market capitalisation.

The company said its performance in the quarter well exceeded market expectations, and it upgraded its guidance for the full year in response.

Flutter nudged up revenue expectations overall by 1%, adding that excluding the US, it now expects to book between USD8.1 billion and USD8.3 billion in 2024, instead of between USD7.85 billion and USD8.15 billion

[master rsi] 13/11/2024 09:42

SBTX 14.125p +0.125p ( 14 v 14.25p )

The desire of the MMs to have a double bottom in the chart, did the trick yesterday.

There was only a smaller amount of sales v buys at the end of the day but yet the was a 0.625p drop in the price.

Today the buys are doing the job to get the stock back up, bid moving up to 14p v 14.25p now

[master rsi] 13/11/2024 09:30

The market decided to go up just now, which I suspect is only because the OIL price is rising so the Large Oil companies are moving higher also.

FTSE 100 +29 points
FTSE 250 +90 points

[master rsi] 13/11/2024 09:15

MARKET REPORT
LONDON MARKET OPEN: London stocks green as "Trump trade" wears off

(Alliance News) - Stock prices in London opened higher on Wednesday morning, with market participants' eyes on a key US inflation reading due later.

FXStreet-cited market consensus expects the US consumer price index to post a 2.6% annual rise for October.

That said, Lloyds analysts declined to put much figurative stock in the release, saying: "Just as yesterday the message from the UK data was that it counted for less this time because the Budget had changed the outlook, so a similar story goes for the normally key US data release this week as October inflation data will tell us little of the path forward post a Trump election victory.

"This very near-term data may though have some influence on the December Fed decision, even if thereafter changes in political choices need to be given more weight in the subsequent outlook."

Swissquote's Ipek Ozkardeskaya added: "The CPI data has regained importance since Donald Trump was re-elected President of the US. Jobs data remains crucial for the Fed's policy path, as the last thing the Fed wants is to panic and lose control of the situation, but the Fed's victory over inflation looks more vulnerable today than it did a month ago."

The FTSE 100 index opened up 19.84 points, 0.3%, at 8,045.61. The FTSE 250 was up 89.78 points, 0.4%, at 20,517.58, and the AIM All-Share was up 1.56 points, 0.2%, at 732.42.

The Cboe UK 100 was up 0.4% at 809.02, the Cboe UK 250 was up 0.5% at 17,946.03, and the Cboe Small Companies was up 0.9% at 10,624.59.

"FTSE100 earnings have surprised on the upside, while earnings growth has disappointed so far for the European index," said XTB's Kathleen Brooks. "A stronger showing for Q3 earnings season, hopes that Trump will take pity on the UK and give us some sort of trade deal and immunity from tariffs, and political discord in Germany and the EU, is providing a shield for UK stocks, which may limit the downside if the global sell off continues."

Smiths Group led the FTSE 100, rising 14%.

The engineering company has raised full-year guidance, now expecting organic revenue growth of 5% to 7%. First-quarter organic revenue growth has picked up to 16% from 3.5% the prior year.

Smiths also said it is initiating the second tranche of its previously announced buyback, and increasing the programme's upper limit to GBP150 million from GBP100 million.

Intermediate Capital led the laggers, down 4.4%.

The private equity investor's half year pretax profit has decreased to GBP198.4 million from last year's GBP241.9 million, although net asset value per share rose on-year to 788p from 704p at September 30.

It did however increase the interim dividend to 26.3p from 25.8p.

Dowlais topped the FTSE 250 with a 16% gain.

Another engineering group, Dowlais said adjusted revenue for the ten months to October has decreased 6.1% on-year to GBP4.2 billion, driven by continued weakness in its ePowertrain line.

However Dowlais said full-year guidance is unchanged as it "continues to execute well and remains confident" it will deliver the previously forecast mid-to-high single-digit adjusted revenue decline and an adjusted operating margin of between 6.0% and 7.0% at constant exchange rates.

On the FTSE Fledgling index, Creightons was the biggest winner having jumped 18%.

The consumer goods manufacturer said it expects half-year pretax profit to be "notably higher" on an annual basis, and that operating profit before exceptionals will surpass the prior year's GBP1.5 million.

"Despite a small reduction in revenue, the groups' strategy of maintaining a tight control on costs, whilst aligning the overhead cost base with activity levels, has delivered a healthy operating profit," Creightons said.

In European equities on Wednesday, the CAC 40 in Paris was up 0.1%, while the DAX 40 in Frankfurt was up 0.2%.

France's unemployment rate ticked up a notch to 7.4% in the third quarter of the year, with the jobless rate decreasing for women aged 25 to 49, but rising for men and young people.

Meanwhile German Chancellor Olaf Scholz plans to address lawmakers in the lower house of parliament today following the collapse of his three-party coalition a week ago. The political upheaval means Europe's biggest economy is now to hold an early election on February 23 instead of September as originally planned.

The pound was quoted at USD1.2742 early on Wednesday in London, edging up compared to USD1.2739 at the equities close on Tuesday. The euro stood higher at USD1.0610, against USD1.0600. Against the yen, the dollar was trading higher at JPY155.02 compared to JPY154.69.

In Asia on Wednesday, the Nikkei 225 index in Tokyo was down 1.7%. In China, the Shanghai Composite was up 0.5%, while the Hang Seng index in Hong Kong was down 0.1%. The S&P/ASX 200 in Sydney closed down 0.8%.

"China's economy continues to be a worry, with the authorities' attempts to inject the economy with stimulus seen as underwhelming. The impact of a second Trump term and its implications for global trade is also being mulled over," commented Hargreaves Lansdown's Susannah Streeter.

In the US on Tuesday, Wall Street ended lower as the post-election 'Trump trade' eases off, with the Dow Jones Industrial Average down 0.9%, the S&P 500 down 0.3% and the Nasdaq Composite down 0.1%.

"The hot enthusiasm which powered Wall Street higher following Trump’s re-election has cooled off. Investors are assessing the realities of governing for Trump’s second term," Streeter noted.

Brent oil was quoted lower at USD71.89 a barrel early in London on Wednesday from USD72.02 late Tuesday.

Gold was quoted higher at USD2,608.68 an ounce against USD2,600.40.

XS analyst Antonio Di Giacomo nonetheless warned that "gold prices remain vulnerable due to global economic factors and Federal Reserve policies. Rising bond yields and the strong dollar have created an unfavourable environment for gold, reducing its appeal as a safe-haven asset. However, the upcoming CPI data could shift this situation if inflation proves higher than expected, potentially forcing the Fed to reconsider its interest rate decisions."

Still to come on Wednesday's economic calendar, as well as CPI data the US has a monthly budget statement. Also, later this morning expect comments from UK Bank of England Monetary Policy Committee member Catherine Mann.

[master rsi] 13/11/2024 08:35

Thames Water deal reaches "important milestone" in creditor backing
(Alliance News) - Thames Water Utilities Ltd has won support from three-quarters of its creditors for an emergency funding deal which would throw the struggling utility company a GBP3 billion lifeline.

The Reading-based firm said on Wednesday that creditors holding more than 75% of its Class A debt – the least risky class of bonds in its debt pile – have agreed to the deal.

A cluster of large investment firms including BlackRock Inc, Abrdn PLC and M&G PLC drew up the funding plan, which, if approved, effectively guarantees Thames Water can keep operating until October 2025.

But the 75% threshold is significant because it is the minimum amount needed for legal approval.

Thames Water still needs it to be passed in court though, and is aiming for a December 17 hearing.

The company said in a statement that reaching the three-quarters mark represents "an important milestone in implementing" the funding deal.

The plan would see Thames Water initially get a GBP1.5 billion loan, which comes with an annual interest rate of 9.75% plus fees.

There would be capacity for a further GBP1.5 billion, across two tranches of GBP750 million, if the company appeals to competition regulators over planned bill increases across the water sector.

Water watchdog Ofwat is expected to confirm in December how much it will allow water companies to increase their bills by over the next five years.

Securing the second cash boost of GBP1.5 billion would fund the company until May 2026.

It comes amid a growing dispute against a secondary group of creditors who also hold a portion of Thames Water's debt – thought to be about GBP1 billion of riskier, Class B bonds.

The Class B bondholders drew up a rival fundraising plan in October, which they say is less expensive than the interest rate put forward by the Class A group, but it was not endorsed by the utility company.

Thames Water has been at the centre of growing public outrage over the extent of pollution, rising bills, high dividends, and executive pay and bonuses at the UK's privatised water firms.

The company, which is the UK's largest water provider, is more than GBP16 billion in debt, while also facing a crisis caused by long-term lack of investment in its infrastructure.

The group of Class A creditors which drew up the emergency funding plan is made up of more than 100 global investment firms.

It also includes the US hedge fund Elliott Investment Management, plus investment firms Apollo Global Management and Silver Point Capital.

[master rsi] 13/11/2024 08:22

FTSE

Opening up with 6 points..

note earlier ...
Stocks called higher while Trump assembles cabinet

(Alliance News) - London stocks were called to open in the green on Wednesday, while eurozone and Asian markets prepare themselves for tariffs from the US.

[apotheki] 13/11/2024 07:28

Tirupati Graphite plc / LSE:TGR

Financing Arrangements and Progress Update

Tirupati Graphite (TGR.L), the specialist flake graphite company and supplier of the critical mineral for the global energy transition, is pleased to announce progress on potentially meeting and supporting its financial requirements through a pre-production trade finance arrangement and provides an update in continuation to its previous RNS.

Trade Finance and further Financial Arrangement

· The Middle Eastern Sovereign Fund (the "Fund") with whom the Company has been engaged with (See RNS dated 10 October 2024), has provided a trial pre-production trade finance sum of c.US$225,000 to the Company for supply of 280 tons of certain grades of flake graphite to an end-customer (the "Trial Deal").

· The Company and the Fund are in discussions in respect of a larger trade finance arrangement that provides the Company with c.US$ 2.4 million via a similar, upfront pre-production prepayment. This larger arrangement is targeted for negotiation and finalisation during the Trial Deal period.

· The first shipment of 100 tons out of the 280 tons under the Trial Deal is now at the port destined to sail later this week and production of the balance quantity continues.

· As per the schedule for production and shipment, it is expected that the 280 tons of shipments shall be completed in early December.

· In addition to the trade finance arrangement, TG is in discussions with the Fund for development finance for the Company's projects in Mozambique.

· The Company also remains engaged in discussions with other sources of funding.

Operations

· Simultaneous to production of the goods under the trade finance deal, sales to other customers of the Company for grades not covered under the deal continue to be made.

· The Company intends to stabilise operations of its Vatomina project to continuity from the trade finance funds received and those expected from other sales, and potential further refunds of VAT.

· As the operations stabilise to full continuity, the Company intends to progress further on all fronts.

Shishir Poddar, Managing Director and CEO, commented:

"We are glad to have initiated a relationship with the Middle Eastern Sovereign Fund with whom we have been working for a comprehensive and long-term resolution of our current and growth financial needs. The trial deal forms a stepping stone, the success of which shall strengthen our position in finding prudent solutions to our financial requirements; a key consideration that the Company has kept in mind in its efforts to protect the interests of its existing shareholders."

[apotheki] 13/11/2024 07:25

ALTONA RARE EARTHS PLC / LSE:REE

PDMR Dealing

Altona (LSE:REE), a resource exploration and development company focused on critical raw materials in Africa, announces that it has been notified that on 11 and 12 November Cedric Simonet and Louise Adrian, both Directors of the Company, purchased 899,999 and 1,027,016 ordinary shares of 1 pence each in the Company ("Shares") respectively.

[master rsi] 12/11/2024 23:16

CNC 140p (+15p / 12.00%) Concurrent Tech says Systems unit inks USD3.7 million contract

(Alliance News) - Concurrent Technologies PLC on Tuesday said that its Systems business unit in Los Angeles has secured a USD3.7 million contract, with a leading defence platforms provider in Asia.

Concurrent Technologies is a Colchester, England-based designer and manufacturer of computer products for use in critical embedded applications.

According to the terms of the deal, Concurrent will deliver rugged systems to be used in next-generation armoured vehicle demonstrators, and earlier deliverables include air-cool R&D units to enable software development.

Delivery of the finished systems is due during 2025, and it is expected that most of the associated revenue will be recognised in that year.

The demonstrations trials may inform a future decision to make more same or similar systems, added Concurrent Technologies.

Shares in Concurrent Technologies closed 13% higher at 140.63 pence each in London on Tuesday.