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VSA Capital Market Movers - Antofagasta Plc, Polymetal International, Sula Iron and Gold PLC

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Sula Iron and Gold (LON:SULA)

SULA has conditionally placed 128.6m shares priced at 0.4p and raised £0.5m for general working capital purposes and drilling expenses on the Ferensola project and other potential regional programs.

Shares were placed with a select list of targeted existing investors and a strategic long term Asian investor. Trading of the new shares will take place on 17 March. VSA Capital acted as broker on the fundraising. Total shares in issue will amount to 2,214m.

Antofagasta (LON:ANTO)

Year end results for ANTO showed an EBITDA rise of 78.7% to US$1,626m. Operating cashflow rose 70% to US$1,457m. CAPEX fell 24% to US$795m. Earnings per share after exceptional items and discontinued operations fell to just US$0.16/share. A final dividend of US$0.153/share was declared versus none last year.

Forward guidance is for a rise in capex to US$900m but copper output to stay as previously forecast at 685,000 – 720,000t copper metal.

Polymetal (LON:POLY)

POLY has updated JORC reserves and resources after a year of exploration and mine production. Reserves down 5% to 19.8mozs Au EQ. Resources up 29% to 16.5mozs Au Eq due to two project acquisitions and first resources calculated for Levoberzhny and Lichkvaz.

Total resources including reserves rose to 36.4mozs. These results are based on US$1200Au/oz and US$16Ag/oz. Drilling meters of 324km are represented from this past year. POLY is holding an Investor Day tomorrow.


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