News & Comment
US ethanol play GTL Resources made £4.2 million pre-tax in its first operating year and sounds bullish despite a ‘challenging’ environment.
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Ethanol play GTL Resources turned a $2.2 million (£1.1 million) loss into an $8.5 million profit in the first half-year.
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Ethanol hopeful GTL Resources is planning a £13 million placing after starting production in the USA.
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GTL Resources, the AIM-quoted US ethanol fuel production company, has received its first $1 million (£500,000) of revenue.
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Ethanol play GTL Resources says it expects production from its new Rochelle plant in Illinois to start in December.
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Ethanol hopeful GTL Resources hopes to start production this year with a 50 million gallon-a-year plant near Chicago.
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Bombed-out ethanol hopeful GTL Resources, with trebled annual losses of £7.7 million, is seeking £24 million at 1.25p to buy control of Illinois River Energy (IRE).
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Kevin Alexander, chief executive of Aim-listed GTL Resources, says the company is poised to wrap up project finance for a methanol project at Dampier in Western Australia, which he claims could generate revenues of £100 million a year from 2004, writes Robert Tyerman.
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Aim-listed gas refiner GTL Resources expects to reach agreement on US$300 million (£210 million) of project financing plus all the other necessary contracts for its gas-to-methanol plant in Western Australia by 31 March, 'and probably before that', says its chief executive. Ben Cobley reports.
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Aim-listed GTL Resources is close to clinching a 20-year gas supply
contract Down Under with Philips Petroleum, writes Ben Cobley.
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Recommendations
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Sector Articles
Gordon Brown pleased followers of the energy sector with what was generally considered a good Budget.
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With the market for new issues showing serious signs of life once more, the Alternative Investment market is fast becoming the centre for this renewed activity.
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Impending US interest rate decisions in January caused market uncertainty for most of the month - Aim was no exception. When the answer arrived, however, gains were short-lived as further tech and telecom setbacks dragged the main markets down. Aim, meanwhile, was able to provide something of a safe haven, meandering gently southwards by 10.6 points to 1439 points.
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