Next Thursday (October 16) in Mayfair we are joined by the executive directors of AIM-quoted Ferrex (LON:FRX), International Ferro Metals (LON:IFL), Galantas Gold (LON:GAL) and Premier African Minerals (LON:PREM). The companies will be updating us on their investment propositions and all have plenty of near term news flow after significant developments with each of their projects.
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The past month has been an important one for ferrochrome producer International Ferro Metals as it lays the foundations for growth. The extension of its £27.4mln debt facility means the business moves into a position of strength for the new financial year and analysts are predicting a significant upturn in the group’s financial fortunes that could see operating profits double over the next two years.
Premier African Minerals' is focused on near term production at its RHA Tungsten Mine in Zimbabwe which they expect early next year. A revised mine study is expected imminently.
African iron ore and manganese explorer, Ferrex is making good progress bringing its Nayega manganese project in Togo into early production. The plan is to develop the operation in two phases: a low capex open-pit, followed by a sintering and blast furnace facility.
After a lengthy planning application, Ulster-based Galantas Gold is set for a major step up in both scale and ambition. In July, the company revealed a determination on plans to go underground at its gold mine in Omagh was due within three months, adding its final consultation had been positive. The shares are starting to move spiking over 40% this week but still at a nominal valuation there could be much more to come.
Please join us at 5:45pm to allow for a prompt 6pm start. Each company has around 30 minutes to give a short presentation and for Q&A. This will be followed by the 'Champagne Raffle' where four guests will win a bottle each. The evening will end with a drinks reception with canapés.