Gold, dividends and expenses

Wednesday 30 December 2015

The headline index handed back most of yesterday’s gains early on as traders seized the chance for some profit-taking on house builders following their surge but volumes remained light the run up to the New Year break. Wall Street made solid gains overnight, while Asian markets were mixed.

“Markets maintained their somnambulist progression towards the end of the year with little in the way of corporate news to excite investors,” says AJ Bell Investment Director Russ Mould.

“KEFI Minerals (LSE:KEFI) issued a bullish operational update anticipating further progress in 2016.   The group has put together a first-class syndicate of backers for the Tulu Kapi gold project in Ethiopia which remains on schedule to start production in 2017. It has also completed the mining licence application for the Jibal Qutman gold project in Saudi Arabia.

“Crimson Tide’s (LSE:TIDE) shares were up in early trading after it started the process of seeking shareholder approval to undergo a capital reconstruction. The aim is to create positive retained earnings which would allow the company, if appropriate, to pay dividends in the future.

“Ortac Resources (LSE:OTC) slashed interim pre-tax losses from £0.79m to £0.34m. Most of the losses were linked to administrative expenses. Ortac is managing operations on a cost efficient basis while talks with potential local partners and supporters continue.”

These articles are for information purposes only and are not a personal recommendation or advice