Magnolia adds 11 wells 21/05/2013
US-focused oil and gas explorer Magnolia Petroleum (LON:MAGP) has decided to participate in another 11 wells across North Dakota and Oklahoma.
New era at Firestone
Philip Kenny, chairman and co-founder of Firestone Diamonds, has resigned from the southern Africa-focused company.
A second-generation Irish entrepreneur, he has left the company (now producing from Liqhobong in Lesotho and the BK11 mine in Botswana, but still losing money) to ‘pursue other business interests’ at a time when its shares languish at a fraction of their 1998 AIM float price.
Lucio Genovese, a South African mining financier with experience as Moscow chief for mining and metals trading giant Glencore and at Swiss-based buy-out specialist InCentive Capital, has replaced Kenny in the chair at Firestone.
The company produced 34,000 carats in the year to last June and lost £2.8 million pre-tax on revenues of £2.4 million.
Tim Wilkes, who became London-based Firestone’s chief executive officer last year, points out that it was Kenny who spearheaded the company’s acquisition in 2010 of Liqhobong, which is hoped to play a key part in a planned ramp-up of annual production to one million carats in 2014.
Rough diamond prices have fallen some 30 per cent since their peak last summer, but the market is hoping for renewed strength in Chinese and Indian demand this year.
Floated 14 years ago at 114p, Firestone shares have fallen from 36.5p to 12.25p within the past year. They could have some speculative appeal as a recovery punt.
Beat the market
1. View our terms and conditions here
Advertisement
The latest company webcasts
Live and pre recorded video & audio updates from companies on their latest news, results & AGMs through interviews and presentations. Find out more.
Achieve impressive returns on the go
Gain instant access to some of the best-performing and fastest growing companies in the small cap arena. Sign up NOW!
Director's Pay 2013
The annual Directors' Pay on AIM Report is the most comprehensive review of directors' renumeration on AIM available. It's ideal for benchmarking your team's, your organisation's and your own salary. The full report is available to order in PDF format for £350 (+VAT). Order report here
Cash Shells 2013
This research provides a comprehensive overview of cash shells, companies that have become a significant feature on the Main Market, AIM and PLUS landscape. The full report (out June 2013) is now available to pre-order in PDF format for £295 (+VAT). Contact us for more info
M&A on AIM 2012
This new report examines valuation metrics, cash balances and financial performance to provide dealmakers with all the tools they need to pinpoint undervalued companies on AIM. The full report is available to order in PDF format for £295 (+VAT). Order report here
Coverage and tips for AIM and Small Caps
Informative features and research on fast-growing companies, with AIM market and small cap tips, news on growth stocks, penny shares and junior stock market companies. Regular share recommendations, directors' dealings, company news and analysis, new issues and upcoming IPOs.
If you're interested in business tax updates visit our specialist tax guide website.
Latest small-cap and growth company news
Daily coverage of small-cap company stocks on London's junior markets AIM and PLUS, breaking news, stock research and latest share price information for investors. Full sector coverage with all the latest news on smaller listed companies, updated several times a day with financial reports, trading statements and links to further web resources.
Popular News
Acquisition
Acquisitions
Aim
Aim Market
Boardroom Moves
Breaking-even
British Technology
Cash
China
Commodities
Credit Crunch
Deals & Contracts
Debt
Dividend
Emerging Markets
Full List
Fundraisings
Gold
Growth Company
Growth Stocks
Loss Making
Main Market
Mergers & Acquisitions
New Issues
Penny Shares
Placing
Plus Markets
Profit Warning
Restructuring
South Africa
Speculative Punts
Technology
Trading Update
Turnaround
Undervalued
Advertisement
Latest News
Quixant joins AIM 21/05/2013
Supplier of computing platforms for gaming and slot machines Quixant (LON:QXT) has joined London's junior market.
Xcite sells data 20/05/2013
North Sea-focused Xcite Energy (LON:XER) will sell off data worth US$15 million (£9.9 million) regarding its Bentley 9/03b-6, 6Z well.
Vatukoula takes £4.5m investment 20/05/2013
Fiji-focused Vatukoula Gold Mines (LON:VGM) will receive £4.5 million from SCD Energy in exchange for a 19.2 per cent stake in the company.
Snoozebox to restructure 17/05/2013
Shares in temporary hotel company Snoozebox Holdings (LON:ZZZ) tumbled after it was announced the business will undergo a reorganisation.
Cash shells on the rise 16/05/2013
There are now 91 London-listed cash shells, compared with 64 last year, according to the annual Cash Shells Directory produced by Vitesse Media Research.
Sectors
Aerospace & Defence
Alternative Energy
Automobiles & Parts
Banks
Beverages
Chemicals
Construction & Materials
Electricity
Electronic & Electrical Equipment
Equity Investment Instruments
Financial Services
Fixed Line Telecommunications
Food & Drug Retailers
Food Producers
Forestry & Paper
Gas, Water & Multiutilities
General Financial
General Industrials
General Retailers
Health Care Equipment & Services
Household Goods
Industrial Engineering
Industrial Metals
Industrial Transportation
Leisure Goods
Life Insurance
Media
Mining
Mobile Telecommunications
Nonequity Investment Instruments
Nonlife Insurance
Oil & Gas Producers
Oil Equipment, Services & Distribution
Personal Goods
Pharmaceuticals & Biotechnology
