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Agribusiness

Morning news summary: Bovis Homes, Atkins, Forte Energy, Stratex Intl, GGG Resources

Bovis Homes (LON:BVS) announced its preliminary 2010 results today, saying that revenues climbed from £281.5 million to £298.6 million, while pre-tax profits more than doubled, rising from £7.5 million to £18.5 million.

Atkins (LON:ATK) has acquired the Technical Services Scotland (TSS) consultancy and technical support team from RWE npower's Bellshill Technical Services group for a cash consideration of £785,000.

African Eagle Resources (LON:AFE) has received the second iteration of the feasibility study economic model for its Dutwa nickel project in Tanzania from independent engineering consultant Simulus.

The company said that the latest economic modelling indicates that atmospheric tank leaching, rather than heap leaching, will give a better economic return at Dutwa.

Rambler Metals & Mining (LON:RMM) announced that the final construction approval has been received from the Provincial Government for its Ming copper-gold mine.

Forte Energy (LON:FTE) has received assay results from a further 17 holes drilled at the A238 uranium prospect, Mauritania. Significant intersections included 17 metres grading 325 parts per million (ppm) uranium, 20 metres at 215 ppm uranium, 8 metres at 356 ppm uranium, 13 metres at 456 ppm uranium and 17 metres at 245 ppm uranium.

Stratex International (LON:STI) released its 2010 results today, highlighting a “healthy cash balance”, which stood at nearly £1 million at the end of the period following a £1.3 million public placing and payments from JV partners.

Mediterranean Oil & Gas (LON:MOG) said that the operator of its 20% interested Guendalina gas field Eni (NYSE:ENI) has informed the Company that the field development plan for Guendalina continues to progress on schedule and "first gas" is expected to occur in September 2011.

Aurum Mining (LON:AUR) has entered into a joint venture agreement with Ormonde Mining (LON:ORM) under which Aurum will partner with Ormonde in gold exploration over four permit areas in northwest Spain.

Atlantic Coal (LON:ATC) has secured an option to buy a 158 acre anthracite mining property located in the Boroughs of Duryea and Hughestown in Luzerne County, Pennsylvania.

Connemara Mining (LON:CON) announced that step out drilling has intersected hydro thermal breccias and low-grade zinc-Lead mineralisation up to 2km southwest of the Stonepark North zone.

GGG Resources (LON:GGG) announced its intention to make an off-market scrip offer under the Australian Corporations Act 2001 for all of the issued shares in Auzex Resources which it does not own.