Young and Co's Brewery 24/05/2012
Pub giant Young and Co’s Brewery (YNGA) delivered a pre-tax profit of 17% amid restructuring, shedding assets and acquisitions.
As foreshadowed by Growth Company Investor, tantalum miner Noventa (NVTA) has raised £7m in 10% preference shares, convertible at nearly 263p. The Jersey-based company, steered by engineer and company doctor Eric Kohn, has secured the funds to help develop its flagship Marropino mine in Mozambique's Zambezi province.
AIM-quoted Noventa, which is already producing from previous mining tailings in Mozambique, is targeting new production of 600,000 lbs a year in the near future at cash costs of less than half its estimated sustainable tantalum price of $70 a lb. The company stresses the benign mining policy of the Mozambique government.
Floated four years ago at 175p, Noventa shares now have the wind behind them at 242.5p. They should have further to go.
Market cap: £60.5m
PE Forecast: n/a
Share price: 242.5p
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Pub giant Young and Co’s Brewery (YNGA) delivered a pre-tax profit of 17% amid restructuring, shedding assets and acquisitions.