The main indices continued to decline last week with the FTSE 100 falling 160 points to 5,607 and the AIM All Share falling 12 points to 681. CPI Inflation was last week announced to have risen to 2.7 per cent in October from 2.2 per cent the month before, and this week UK Unemployment fell by 49,000 to 2.51m in the three months to September whilst France saw its debt being downgraded by Moody’s. The week ahead sees mortgage approvals data from the British Bankers’ Association, CBI Industrial Trends, MPC minutes and the meeting of Eurozone ministers to decide whether to release the next Euros 33bn of bailout needed by Greece. If you would like to unsubscribe, please email enquiries@hybridan.com with “unsubscribe me”. Disclaimer- This document, which does not constitute research, has been issued by Hybridan LLP for information purposes only- please refer to the disclaimer in full below.
Amara Mining (LON:AMA) (formerly Cluff Gold), has announced a resource update for its 100 per cent owned Baomahun Gold Project in Sierra Leone. There has been an increase in resource in the indicated category through addition of low grade halo around the existing high grade, from 25.6mt at 2.50g/t totalling 2.06m oz to 38.4mt at 1.82g/t totalling 2.24m oz. The updated resource model is significantly more robust following structural re-analysis and additional exploration targets have been identified. The project remains on track for first gold production in 2015 with the feasibility study expected to be completed in H1 2013.
ATH Resources (LON:ATH) one of the UK's largest coal producers, has reported that it has been notified by its lenders, HSBC and Clydesdale Bank (trading as Yorkshire Bank), that the BECAP Fund LP has acquired some of ATH Resources and its subsidiaries' banking facilities and their related rights. As a result of initial discussions with representatives of BECAP Fund LP, the Company believes that a comprehensive review and restructuring of the business will be required and that, given the existing level of liabilities in the Company, it is unlikely that existing shareholder value will be maintained. Following completion of the review, the new lender may be prepared to inject new capital into a restructured business.
Auhua Clean Energy (LON:ACE) AIM quoted environmental technology group based in the Shandong Province…
