Abcam (LON:ABC) (ABC 376p / £679.11m)
AIM listed rapidly growing bioscience Company that markets antibodies via its own online catalogue last week announced its interim results for the six months ended 31 December 2010. Sales in the half year increased 23.7 per cent to £39.4m (H1 2010: £31.8m) and the profit before tax increased 35.4 per cent to £15.2m (H1 2010: £11.2m). The net cash position at 31 December 2010 was £47.0m, whilst there was an increase of 33.8 per cent in the interim dividend to 1.45p per share and a proposal to raise the annual dividend distribution ratio to 40 per cent of profit after tax for the 2010/11 financial year. The share price spiked above 400 pence on the day of the results. China and Hong Kong based business is becoming more important to Abcam, along with new products added to the catalogue beyond antibodies; peptides, proteins, and secondary antibodies. We got the sense at the Analyst meeting that Abcam has the cash and the desire to be on the M&A trail.
African Eagle (LON:AFE) (AFE 10.62p / £43.47m)
African Eagle Resources, a nickel exploration company, announced on Monday that it has received the second iteration of the feasibility study economic model for its Dutwa nickel project in Tanzania from independent engineering consultant Simulus. The latest model evaluates both of the ore process routes available to the Company; heap leaching as well as atmospheric agitated tank leaching and includes ore throughputs of up to 5m tons per annum (Mtpa). The capex estimates are $550m for heap leach and $600m for tank leach. The capital payback for both methods is between 3 and 5 years. The cash operating cost estimates are $3.56/lb for heap leap and $3.37/lb for tank leach. Working towards first production in Q1 2015, the milestone targets are: Q2 2011 commencement of the Environmental and Social Impact Assessment; Q2 2011 completion of the JORC indicated resource estimation; Q3 2011 completion of the Pre-Feasibility Study; Q4 2011 commencement and completion of the Definitive Feasibility Study; during 2012 seek project financing; 2013-2014 construction of the plant and other infrastructure.
Atlantic Coal (LON:ATC) (ATC 0.72p / £28.05m)
Atlantic Coal, the open cast coal production and processing company with activities in Pennsylvania, USA, announced on Monday that it has secured an option to…
