The Morning news update with BHP Billiton, Balfour Beatty and EMED Mining

1 mins. to read

FTSE 100

BHP Billiton (BLT) – is pursuing options to make the company simpler and more productive. Has continued to study various structural alternatives, with a demerger of a selection of assets is the preferred option.

FTSE 250

Balfour Beatty (BBY) – has further considered the announcement from Carillion and reaffirms its rejection of the merger proposal.

RIT Capital Partners (RCP) – NAV up 17p per share at 1,401p as at 30th June, total dividend up by 5% at 29.4p per share.

Small caps

EMED Mining (EMED) – has entered into a subscription agreement with two of its cornerstone investors, Yanggu Xiangguang Copper Co. and Orion Mine Finance in relation to a proposed equity fundraising to raise approximately £13.1 million at 7.25p per share. It is anticipated that the proceeds will finance the company up to the end of 2014, which will enable it to finalise the optimal plans for the financing of the Rio Tinto Copper Project.

Hummingbird Resources (HUM) – has drawn down the full $10 million available under the Taurus Mining Finance Fund Bridge Facility.

Zanaga Iron Ore (ZIOC) – the Zanaga Iron Ore Project, a joint venture with Glencore plc, has been granted a Mining Licence, and signed a Mining Convention with the Government of the Republic of Congo.

RapidCloud (RCI) – has signed a contract with the registrar of companies for a country in Southeast Asia. RapidCloud is contracted to provide a scalable, high availability cloud environment to the client including managed cloud services.

3Legs Resources (3LEG) – following the completion of the multi-stage stimulation programme on the Lublewo LEP-1ST1H lateral well, the well has now been put on a planned long term flow test.

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