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Gold output, ilmenite guidance and a 38% jump highlight small caps
Gooch & Housego’s takeover price values the deal at £345.6 million and includes a 41% premium to the prior close.
In a small-cap roundup, Thor Explorations said it produced just over 19,000 ounces of gold at its Nigerian Segilola mine in the second quarter, keeping the company on track for its full-year target, Proactive Investors reported.
Thor ended June with over $207 million in cash and declared a quarterly dividend. Kenmare Resources also said production should improve in the second half after a difficult first half at its upgraded Wet Concentrator Plant, with full-year ilmenite output still guided at around 800,000 tonnes, according to Proactive Investors.
Gooch & Housego shares rose 38% after the photonics specialist agreed to a £345.6 million takeover by US private equity firm Arlington Capital Partners, the outlet said.
Under the deal terms, shareholders will receive 1,230 pence per share in cash, a 41% premium to Wednesday’s close, marking another UK defence-linked company acquisition by American buyers, Proactive Investors added.
Latest closeGold $4,157.80 ▲0.4%