Tertiary Minerals (TYM) MD Richard Clemmey discusses fluorspar projects & recent developments on TipTV

USA considers fluorspar as a strategic material and imports 100% of its fluorspar… Need we say more?

Tertiary Minerals are strategically placed to capitalize on the much anticipated resurgence in the fluorspar market in 2017.

In this segment, Tertiary Minerals MD Richard Clemmey talks to Alan Green, CEO of Brand Communications about the fluorspar projects, the upcoming surge in fluorspar and provides an update on the company’s projects – Storuman Project, Lassedalen Project, MB Fluorspar, Nevada, USA Project.

Photo – Me Raises Interim by 20%

Photo-me International PHTM is raising its interim dividend by 20% after first half results to the 31st October came in ahead of the board’s expectations. Strong growth saw revenue up by 19.2% (4% on a constant  currency basis) and pretax profits by 20.2% ( 4.3% on a constant currency basis). The board now expects that full year profits will significantly exceed current market expectations.

Brainjuicer BJU Gross and pre tax profit will both be above current market forecasts following strong second half market trading. The company is changing its financial year end from the 31st December to 31st March but unaudited results will still be published for the current year to 31st December.

Marshalls MSLH The first five months of the second half have produced strong trading in the domestic end market with a rise in revenue of 15%. Order intake and revenue continue to be robust.

Plant Impact PIM Trading in the first quarter has been strong and the company is particularly excited by the success of Veritas, the company’s main soybean crop enhancement product which has accounted for most of the sales.

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Ithaca Energy (IAE) – VectorVest sees a compelling fundamental and technical picture, rates as buy

Ithaca Energy Inc (IAE.L) is a North Sea oil and gas operator engaged in assessing and developing undeveloped discoveries in and around the UK, and exploiting its existing UK producing asset portfolio. Properties include Northern North Sea, which consists of Dons, Causeway Area and Broom; Central North Sea, which consists of Greater Stella Area (GSA), Cook and Pierce; Southern North Sea, which consists of Topaz, and Southern England consisting of Wytch Farm. VVUKlogo

On November 14 2016, IAE announced Q3 results, which revealed solid YTD cashflow of $117m for the first nine months of the year, with average production of 9,585 boepd (barrels of oil per day), ahead of the previous 9,000 boepd guidance. Earnings for the period amounted to $12m, excluding non-cash mark-to-market of future hedges and non-cash accounting tax charges resulting from reduction in UK tax rates. IAE said it was nearing a material step-change in the business, with production set to more than double to 20-25,000 boepd and unit operating costs to reduce to under $20/boe with start-up of production from the Stella field. The company continues to make additional acquisitions: increasing its position to approximately 33% in the “Vorlich” discovery and acquiring a 75% interest and operatorship in the nearby “Austen” discovery.

The potential at Ithaca had been picked up by VectorVest UK earlier in 2016, when the company financials triggered flags across a number of indicators, including Earnings Growth Rate (GRT). This metric reflects a company’s one to three year forecasted earnings growth rate in percent per year, and VectorVest considers IAE forecasted GRT of 26% to be excellent. In addition the company has an excellent Relative Value (RV) score. RV is an indicator of long-term price appreciation potential, and VectorVest considers IAE forecasted RV of 1.42, to be excellent on a scale of 0.00 to 2.00. In terms of the current worth, IAE.L has a current Value of 117.95p per share, meaning it is undervalued at the current 85.75p.

Conservative traders should note the Relative Safety of the share is below 1. This means that there has been earnings surprises in the past. The opportunity in the share should be considered by those traders who are comfortable with managing risk by carefully placed stop loss orders.

VV_IAEchart

The chart of IAE.L is shown above with the price in candlestick format. The green line above the price is the VectorVest calculated valuation while the blue line in the window below the price is the Earnings per share (EPS). The share broke from an ascending triangle formation in October and since has pulled back and charted a treble bottom formation at the level where previous resistance has become support.

IAE.L has tried to break through 92 pence on three occasions since the 21st of October. Markets invariably break on the 4th attempt and technically that’s looks highly probable in the next few days. On Wednesday 7th December the share traded a “hammer” candle which adds to the positive technical picture.

Summary: Although stocks in the oil sector are volatile in line with the oil price , there are some great opportunities to be found. IAE is one such stock, and VectorVest concludes that the raft of positive fundamental and technical data outlined here warrant a buy rating.

David Paul

November 29th 2016

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European Financial Publishing Limited T/A VectorVest UK (VectorVest) is authorised and regulated by the Financial Conduct Authority under register number 543038. You should remember that the value of investments and the income derived therefrom may fall as well as rise and you may not get back the amount that you invest. Past performance is not a reliable guide to the future. This material is directed only at persons in the UK and is not an offer or invitation to buy or sell securities. If investors are in any doubt of the suitability of an investment given their individual circumstances, they are recommended to contact an investment manager or independent financial adviser who may be able to provide tailored advice. Opinions expressed whether in general or both on the performance of individual securities and in a wider economic context represent the views of VectorVest at the time of preparation. They are subject to change and should not be interpreted as investment advice. VectorVest and connected companies, clients, directors, employees and other associates, may have a position in any security, or related financial instrument, issued by a company or organisation mentioned on this site. European Financial Publishing Limited is a company incorporated in Scotland under Company Number SC357322 with its registered address at Exchange Tower, 19 Canning Street, Edinburgh EH3 8EH. Email: support@VectorVest.com

IMC Exploration Group (IMCP) – Update on Exploration Programme

IMCIMC Exploration Group Plc is pleased to announce that, in conjunction with its joint venture partner Koza Limited, it has recently commenced an extensive target generation, mapping and rock sampling programme on its Goldmines River licence PL 3857 in Co. Wicklow, and on licence PL 2551 in Co. Wexford. This work, scheduled to commence in early 2017, is in addition to the previous drilling programme, and is part of our works programme on our five precious metal Licence Areas, and is essential preparatory work for our next phase fully funded drilling programme.

Commenting on this development, IMC Chairman, Liam McGrattan said: “The recently published Geological Survey of Ireland Tellus Survey confirms high levels of gold in streams near the Goldmines River and Avoca regions of Wicklow, areas included in our licences.  The fact that the new data identifies gold values in streams that flow across and along the edges of the Leinster granite, a complex area long thought to be the source for the gold mineralisation in the region encourages us to believe that this comprehensive, extensive and agreed works programme will identify promising drill targets.”

The Directors of the issuer accept responsibility for this announcement.

Contact Details:

IMC Exploration Group Plc
Mr. Liam McGrattan
Tel. Ireland: +353 87 2745427

Keith Bayley Rogers & Co. Limited
Mr. Hugh Oram
Tel. +44 207 464 4090

Brand Communications
Mr. Alan Green
Tel. +44 (o)7976 431608

Brand CEO Alan Green talks about Tertiary Minerals (TYM) and Advanced Oncotherapy (AVO) on the VOX Markets podcast

Brand CEO Alan Green talks about Tertiary Minerals (TYM) and Advanced Oncotherapy (AVO) on the VOX Markets podcast. The interview is 13 minutes 15 seconds in.

Tertiary Minerals (TYM) – Lassedalen Project Land Purchase

Tertiary Minerals plc, the AIM traded company building a strategic position in the fluorspar sector, is pleased to announce it has entered into a non-binding Heads of Terms to acquire land and historic mine workings on its Lassedalen fluorspar project in Norway from global aluminium company, Hydro.

Lassedalen Land Purchase Highlights

  • Entered into a non-binding Heads of Terms with global aluminium company, Hydro, to purchase land and old mine workings on the project
  • The purchase is subject to successful due diligence
  • 12-month period has been granted for Tertiary to complete due diligence
  • Following successful due diligence, both parties shall agree and finalise a purchase agreement within 2 months – negotiation period
  • Tertiary has been granted exclusivity for the full 14-month period (due diligence and negotiation period.
  • Agreed purchase price of 1 Norwegian Kroner

Commenting today, Managing Director, Richard Clemmey said: “The potential land acquisition represents a significant milestone for our Lassedalen fluorspar project, as well adding value to the project, the transaction strengthens the long term security of tenure and reduces future royalty exposure”.

Enquiries

Tertiary Minerals plc

Richard Clemmey, Managing Director

Patrick Cheetham, Executive Chairman

+44 (0) 1625 838 679

SP Angel Corporate Finance LLP

Nominated Adviser & Joint Broker

Ewan Leggat/Laura Harrison

+44 (0) 20 3470 0470

Beaufort Securities Ltd

Joint Broker

Elliot Hance

+44 (0)20 7382 8300

 

Further information regarding the Lassedalen fluorspar project can be viewed on the Company’s website:

http://www.tertiaryminerals.com/projects/fluorspar-projects/lassedalen

Notes to Editors

Tertiary Minerals plc (ticker symbol ‘TYM’) is an AIM-traded mineral exploration and development company building a significant strategic position in the fluorspar sector. Fluorspar is an essential raw material in the chemical, steel and aluminium industries. Tertiary controls two significant Scandinavian projects (Storuman in Sweden and Lassedalen in Norway) and a large deposit of strategic significance in Nevada, USA (MB Project).

CAUTIONARY NOTICE

The news release may contain certain statements and expressions of belief, expectation or opinion which are forward looking statements, and which relate, inter alia, to the Company’s proposed strategy, plans and objectives or to the expectations or intentions of the Company’s directors. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such forward-looking statements. Accordingly, you should not rely on any forward-looking statements and save as required by the AIM Rules for Companies or by law, the Company does not accept any obligation to disseminate any updates or revisions to such forward-looking statements.

Carillon New Orders Weaken In Second Half

Carillon CLLN A full year trading update shows strong revenue growth and increased operating profits for 2016 and net borrowings down from the half year level. Margins in support services have also been strong. Despite this the new order intake slowed in the second half and current expectations are that the total value of new and probable orders will have fallen.

Numis Group NUM In a year where stock market performance was mixed, Numis produced the highest revenue in the the history of the group with a rise of 15% to £112m.. Profit before tax rose by 25% and earnings per share by 21%. At the year end in September cash balances and net assets both stood at record levels and the total edividend for the year is to be increased by 4%

Stagecoach Group SGC is increasing its interim dividend by 8.6% to 3.8p and says it is pleased with its performance in the midst of political and economic uncertainty. Statutory profit before tax for the half year to 29th October showed a very tiny fall from 90.8m to 89.5m but growth prospects for public transport in the UK and North America look good.

Redhall Group RHL saw its manufacturing order book rise by 109% in the year to the end of September and last years operating loss of £0.7m was turned into an operating profit of £0.9m. With a major reduction in losses from £12.2m to £1.7m the company’s turnaround prospects remain on track. No dividend is recommended.

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easyJet Feeling The Competition

easyJet EZJ is beginning to feel the heat of competition now that it has priced itself out of the budget airline market. November passenger statistics showed some growth but only by a comparatively small 2.9%, the comparison of course being with Ryanair. Load factor actually fell by 0.6% to 91.3% leaving it trailing way behind Ryanair’s  95% and not only did load factor fall in November it also fell by on 0.5% a rolling 12 month basis.

Imagination Technologies IMG has completed its restructuring programme on time enabling it to return to profitability for the 6 months to the end of October.  Annual cost savings of £27.5m have been acheived and half year like for like revenue grew by 6% as a result of the strong dollar which however caused a loss of £5.2m to be incurred on dollar denominated debt. The strong dollar is expected to continue to help the company’s trading performance. dollar is expected.

Dewhurst DWHT currency movements were the main factor in the changes in Dewhursts results for the year to the end of September. Profit before tax fell by 4.4% which the board finds disappointing after last years performance but 2016 was a volatile year with a very weak first quarter followed by a much stronger second half recovery. The final dividend is proposed to be increased by 1p to 8p plus a 3p special dividend.

RWS Holdings RWS delivered record revenue and profits, ahead of market expectations for the year to the end of September. Sales rose by 28% and adjusted profit before tax and earnings per share by 35%. Useful gains were made from currency movements after the referendum. The final dividend is to be increased by 15% to 4.5%. Trading in the first two months of the new year is described as having been very strong.

OMGplc OMG is to increase its final dividend for the year to the end of September, by 54% after a rise in adjusted profit before tax from £4.9m to £5.6m and growth in revenue from £25.7 to £29.5m. In the past two years over £16m has been returned to shareholders and the target now is to double group profit and triple like for like revenue by 2021.

Tertiary Minerals (TYM) – Sale of Non-Core Gold Assets

TYM1Tertiary Minerals plc (TYM), the AIM traded company building a strategic position in the fluorspar sector, is pleased to announce the sale of its non-core gold assets, Kaaresselkä and Kiekerömaa, in Finland to TSX-V listed Aurion Resources Ltd.

Highlights:

·     The Company has sold its non-core gold assets, Kaaresselkä and Kiekerömaa, in Finland to Aurion Resources Ltd, www.aurionresources.com

·     Aurion is a Canadian listed (TSX-V: AU) precious metals exploration company primarily focusing on the development of its Finnish gold projects, several of which are under a joint venture with B2Gold, a main listed (TSX:BTO,NYSE MKT:BTG) gold producer and developer, www.b2gold.com

·     £100,000 initial consideration to be paid by Aurion: £15,000 in cash and £85,000 in Aurion shares

·     Tertiary will retain royalty interest in the projects:

Ø – Pre-Production Royalty of US$1.00/ounce gold following the definition of a NI 43-101 (or equivalent) Code compliant Inferred Mineral Resource Estimate on either project

Ø – Pre-Production Royalty of US$2.00/ounce gold following the definition of a NI 43-101 (or equivalent) Code compliant Indicated Mineral Resource Estimate on either project

Ø – Pre-Production Royalty of US$3.00/ounce gold following the definition of a NI 43-101 (or equivalent) Code compliant Measured Mineral Resource Estimate on either project

Ø – Net Smelter Returns Royalty (NSR) of 2% on all future gold production from either property

Ø – Aurion can purchase 50% of the NSR from Tertiary for USD$1,000,000 at any time prior to commencement of commercial production on either project

·     The sale is conditional upon successful transfer of the Exploration Licences for each project from Tertiary to Aurion (to be handled by the mining division of the Finnish Safety and Chemical Agency (Tukes)) and exchange approval by the TSX-V.

Commenting today, Managing Director, Richard Clemmey said: “We are delighted to have sold our two legacy gold projects to an accomplished gold explorer. We wish Aurion every success with the development of the projects and look forward to potentially sharing the future upside through our retained royalty interest”.

Enquiries

Tertiary Minerals plc

Richard Clemmey, Managing Director

Patrick Cheetham, Executive Chairman

+44 (0) 1625 838 679

SP Angel Corporate Finance LLP

Nominated Adviser & Joint Broker

Ewan Leggat/Laura Harrison

+44 (0) 20 3470 0470

Beaufort Securities Ltd

Joint Broker

Elliot Hance

+44 (0)20 7382 8300

Historic Information:

Both projects, Kaaresselkä and Kiekerömaa, have been previously drilled by the Geological Survey of Finland (GTK) and Tertiary. Significant gold mineralisation was encountered in the various drilling programmes therefore highlighting the future potential for the projects. Further information on the projects can be viewed through the Company’s website:

http://www.tertiaryminerals.com/projects/gold-projects/kaaresselka-gold-project

http://www.tertiaryminerals.com/projects/gold-projects/kiekeromaa-gold-project

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

Notes Pursuant to Schedule 4 of the AIM Rules

1.    Intangible asset value of Kaaresselkä and Kiekerömaa on 30 September 2016: £444,622

2.    Aurion consideration shares will be held by Tertiary for a minimum period of four months and one day following issue, a requirement of National Instrument 45-102, Part 2, Section 2.5 (2) 3(ii), under Canadian Securities Law.

Notes to Editors

Tertiary Minerals plc (ticker symbol ‘TYM’) is an AIM-traded mineral exploration and development company building a significant strategic position in the fluorspar sector. Fluorspar is an essential raw material in the chemical, steel and aluminium industries. Tertiary controls two significant Scandinavian projects (Storuman in Sweden and Lassedalen in Norway) and a large deposit of strategic significance in Nevada, USA (MB Project).

CAUTIONARY NOTICE

The news release may contain certain statements and expressions of belief, expectation or opinion which are forward looking statements, and which relate, inter alia, to the Company’s proposed strategy, plans and objectives or to the expectations or intentions of the Company’s directors. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such forward-looking statements. Accordingly, you should not rely on any forward-looking statements and save as required by the AIM Rules for Companies or by law, the Company does not accept any obligation to disseminate any updates or revisions to such forward-looking statements.

Will Brussels Ban Referendums

The Italian’s have done it.  They have joined the growing list of countries whose peoples are sick and tired of their political establishments living lives completely divorced from the realities of the ordinary workaday world which most of us inhabit. The referendum has become the stock, shock weapon  for taming the arrogant political elites of the world. The only question now is whether the bureaucrats of Brussels will try to find a way of banning them as being in breach of the Maastricht treaty or any other nonsensical reason they can think up for saving their tax free privileged lives and their dictatorial powers. Perhaps the usual catch all of health and safety would be appropriate.

As we forecast on Friday as a strong possibility, the Euro has fallen sharply this morning to over 1.20 to the pound bringing our currency speedily back to levels which our economic commentators and experts proclaimed would not be seen again for many a year. And this is only the beginning, The Italians now have to face an election with the possibility of Beppe Grillo as the winner.

Filtronic FTC traded strongly in the 6 months to the end of November and expects unaudited first half revenues will have reached £21.6m  almost five times the total of £4.5m for the whole of 2016. The company cautions however that its success is based primarily on sales to one lead customer of its new ultra wide band antenna.

Ryanair RYA November traffic grew by 15% over last year, to 8.8m customers and load factor was up by another 2% to 95%. The airline advised customers to book their flights now for next summer

Purplebricks Group PURP claims to have caused a seismic shift in the UK estate agency market with its fixed fee revolution. Revenue for the 6 months to the end of October rose by 159%, exceeding the total for the whole of 2016. Gross profit for the half year surged from £4.1m to £10.2m and average revenue per customer rose by over 20%.

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