Resource Trust seeks £70m 10/03/2010
Specialist resources investor Baker Steel Capital Managers plans to float a trust to make pre-flotation investments in the sector.
Stock gains of up to 60%
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Recent AIM recruit Iofina has acquired a new 30,000-acre gas and iodine prospect in the US state of Montana.
Iofina, which raised £55 million with an AIM float at 55p in May, is pursuing gas and iodine prospects in the mid-western USA. The company has named its new area the Triton Prospect and says it was able to buy it ‘on favourable commercial terms’ because brine water makes it unviable without using Iofina’s proprietary ‘Wellhead Extraction Technology’.
Shares in Iofina have been volatile since flotation, surging to 93.5p in June before subsiding back to 55p now. That values the company at £51.6 million.
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Specialist resources investor Baker Steel Capital Managers plans to float a trust to make pre-flotation investments in the sector.
Property group Terrace Hill is 'actively considering' launching a residential fund after trimming annual losses to £27 million.
Bioscience winner Abcam is investigating where to deploy £33 million cash after upping interim profits 64 per cent to £11.2 million.