Thursday March 27, 09:02 AM
UK smallcap opening - Allied Gold up as Barrick injects capital
LONDON (Thomson Financial) - Buyers came for Allied Gold, 4-1/2 pence up at 39, following news that Barrick Gold Corporation, the world's largest gold producer, will fund up to 20 mln aud in order to gain a 70 pct interest in the exploration
licence that encompasses Big Tabar and Tatau Islands.
Barrick will subscribe for 17.6 mln ordinary shares in Allied Gold at 0.85 aud a share, thereby injecting 15 mln aud into Allied Gold.
Interest was also shown in Northern Bear (LSE: NTBR.L - news) , 5 better at 96-1/2, as the holding company for a portfolio of Northern-based building services businesses said it expects full-year turnover and pretax profits to be at the upped end of market expectations.
Laura Ashley perked up 1-1/3/4 to 21-1/2 as traders responded to a 62.3 pct increase in full year pretax profits. This was mainly due to a successful store expansion and realignment programme, improved product offering and continued focus on operational efficiency.
Petrolatina Energy (Frankfurt: A0D9AP - news) , the Colombia-focused oil and gas company, celebrated news of a one-for-five share consolidation with a rise of 3/4 to 6-3/4.
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