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Sirius Minerals completes $425mln placing; Bushveld doubles processing capacity

UK Investor Update - 1 May 2019:

Sirius Minerals PLC (LON:SXX) has completed the share placing portion of its fund raise for the Woodsmith mine in North Yorkshire at the bottom of its indicated price range. Sirius raised US$425mln in total at a price of 15p.

Bushveld Minerals Ltd (LON:BMN) has doubled its vanadium processing capacity in South Africa with the acquisition of Vanchem for US$68mln. Chief executive Fortune Mojapelo said the deal cements Bushveld’s position as a leading global vanadium producer.

ECR Minerals (LON:ECR) has classified its Blue Moon prospect in Victoria, Australia as a gold discovery after the final assays from latest drilling indicated more good grades. ECR’s previously reported one hole hit almost 18 grammes per ton.

Warm weather over Easter helped Next PLC (LON:NXT) post better than expected full year numbers. Sales in the quarter to April the 27th rose by 4.5% compared to a year ago or 1.3% ahead of the retailer’s own forecast though it left full year guidance unchanged.

J Sainsbury PLC (LON:SBRY) saw like-for-like sales fall over the second half of the year as grocery and clothing sales dropped. Sales still rose overall for the year but profits dropped 40% to £239mln.

London Stock Exchange’s information and clearing business helped first quarter revenues rise by 5% to £546mln, even though poor share trading volumes meant capital market income dropped by 9%.

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