Central Asia Metals stake disposal
Central Asia Metals has sold its 76.1% stake in Copper Bay to Guardian Metals, which is also buying out the minority shareholders. The total consideration is $7.5m payable in two equal tranches when production targets for the Chile-based copper tailings project are achieved.
This deal will eventually add $5.7m to the cash pile and help finance any new project that the company acquires.
First quarter copper production at Kounrad in Kazakhstan fell from 3,120 tonnes to 2,852 tonnes. The Sasa mine in North Macedonia produced 4,603 tonnes of zinc, which was slightly lower than the same time last year, and there was a slight increase in lead production to 6,608 tonnes. Sasa is moving to new mining methods. Full year production guidance is maintained.
CURRENT EDITION
THIS MONTH'S TOPICS INCLUDE:
AIM at 30: How the make-up pf the companies has changed
Smaller companies remain pessimistic about economy
Mortgage Advice Bureau upturn
Mortgage network and broker Mortgage Advice Bureau is seeing an initial improvement in the mortgage market and later this year there will be a boost from fixed-interest mortgages taken out at around the time of the Liz Truss Budget coming to an end. Longer-term, the plan is to improve margins, while doubling revenues and market share, which is currently 8.4%.
In 2024, revenues were 11% ahead at £266.5m, while pre-tax profit recovered from £23.2m to to £32m. Net debt was £9.7m at the end of the year. The total dividend edged up from 28.1p/share to 28.2p/share. The number of advisers has risen since the end of 2024.
Mortgage Advice Bureau is considering a move to the Main Market.
Eagle Eye sets out targets
Digital personalised marketing technology developer Eagle Eye believes that it can achieve annual revenues of £100m within five years. A deal with an OEM, which will include the technology in its products will help to reach the target.
In the six months to December 2024, revenues were flat at £24.2m, but lower contributions from services and SMS masked 10% growth in SaaS revenues. There was a lack of new wins in the period, but there have been some since.
Investec forecasts an improvement in pre-tax profit from £3.9m to £5.4m. Net cash will continue to build up and could reach £13m by the end of June 2025.
