2 September 2010

Albidon ahead of budget

23/07/2008 Robert Tyerman

Miner Albidon says nickel production at Munali in Zambia has exceeded budget, for delivery to China.

Quoted on AIM and based in Western Australia, Albidon says Munali, which it wholly owns and is 60 km south of the Zambian capital, Lusaka, has produced more than 100,000 tonnes of ore at 0.7 to 0.8 per cent nickel since going into production in the first quarter of this year. The company says sustaining this trend will allow it to ramp up production to a target 1.2 million tonnes a year.

Albidon, which also has a variety of uranium and other mineral interests in Africa, says a stockpile of nickel, copper, cobalt and platinum group metals concentrate is being built for ‘mine gate’ sale to China’s Jinchuan Group, the biggest nickel producer in Asia. Recommended by Growth Company Investor at 37p two years ago, and again at 83p last August, Albidon shares hit 216.5p in May and now trade at 139.5p, up 1.5p this morning, at which price they value the company at nearly £225 million and are likely to fare better than several sector peers.

Save 50% off your first year’s subscription to Growth Company Investor magazine, and gain immediate access to all the recommendations online. Click here.

Sector: Mining

Companies: Albidon (suspended on 24 March, 2009)

Subscribe today


More breaking news stories.
More extended feature articles.
And a depth of analysis you
can't find anywhere else.

Subscribe today and save 50%

VCT Report 2010

VCT Report 2010 uncovers the money available

for investment in every single VCT, helping you get one step ahead in the race to attract funding for your unquoted, AIM-listed or PLUS-quoted

company.

Order VCT Report 2010 today using this online form

Cash Shells Directory 2010

A comprehensive overview of cash shells on AIM and PLUS, companies that have become a significant feature on the market landscape. For more information and to order, click here or contact our marketing team on 020 7250 7056.

Coverage of AIM, techMARK and PLUS Markets

Informative features and research on fast-growing companies, small-cap and growth stocks, penny shares, stock market tips and share recommendations, directors' dealings, company news and analysis, new issues and upcoming IPOs.

Take control of your investments

A full year's subscription to What Investment magazine for £19.95, a whopping 58% off. Get the latest news, features and expert advice on ISAs, Investment Trusts and Funds, SIPPS, Investing for Children and much much
more. Find out more here.

The Financial Times Guide to Personal Tax

is the definitive and most up-to-date guide to completing your self-assessment tax return, making sure that you get it right and on time, and showing how you can save tax. For more information and to order, click here or contact our marketing team on 020 7250 7056.

The AIM Guide Spring 2010

The new, fully updated AIM Guide is now available to buy for only £49.95 (saving you £30).

A 'must-have' for any serious investor or professional interested in the market for young, fast-growing companies. Order your copy today Hurry, as offer ends soon!

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

Aim   Boardroom Moves   Breaking-even   Buy/hold   Cash   Commodities   Credit Crunch   Deals & Contracts   Debt   Defensive   Director Dealing   Dividends   Downgrades   Emerging Markets   Full List   Fundraisings   Gold   Growth Stocks   Mergers & Acquisitions   Mining   New Issues   Penny Shares   Plus Markets   Profit Warnings   Renewables   Restructuring   Sell/avoid   Speculative Punts   Technology   Turnaround   Undervalued  

Latest News

Interim advance at Abbey Protection 02/09/2010

Legal fees and related insurance and services specialist Abbey Protection has increased first-half pre-tax profits 9.3 per cent to £4.7 million.

Tags: AIM , Growth Stocks , Mergers & acquisitions

Sector: Nonlife Insurance

Companies: Abbey Protection

Johnson Service on the prowl 01/09/2010

Workwear rental and facilities management concern Johnson Service Group is feeling acquisitive after losing a first-half £2.2 million pre-tax.

Tags: Deals & contracts , Mergers & acquisitions , Turnaround

Sector: Support Services

Companies: Johnson Service

Sales mix change dents PuriCore 01/09/2010

'Green' food safety and life sciences group PuriCore targets monthly profits by late 2011 after trimming first-half losses to $5.1 million (£3.3 million).

Tags: Full list , Mergers & acquisitions , Turnaround

Sector: Health Care Equipment & Services

Companies: Puricore

More News

Sectors

Aerospace & Defence   Alternative Energy   Automobiles & Parts   Banks   Beverages   Chemicals   Construction & Materials   Electricity   Electronic & Electrical Equipment   Equity Investment Instruments   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   Real Estate  
Vitesse Media Events