Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
Orosur Mining [LON:OMI], an AIM-listed company which has found itself in our small cap column with some frequency of late, has this morning released Q1 results. Details of fresh cash injections had spurred support for the stock, but this update seems to bring little new to the table. The fact that JV partners are committed to spending significant sums over the next 12 months may offer some cheer, but if investors are underwhelmed by the summary, there can be little surprise.
Fashion retailer boohoo [LON:BOO] may have seen shares recover at least some of the losses accrued after serious supply chain issues were identified back in the summer but a note regarding the appointment of a new auditor underlines there’s still a degree of hostility towards the company. PWC remain in post for now, having held the role since 2014, but the audit committee recently launched a tender to find a new supplier. This is an interesting challenge because many lobby for auditors to have strictly time limited tenures – boohoo’s quest for change is however being misconstrued by some.
Guild Esports [LON:GILD], an esports franchise which counts David Beckham amongst its shareholders, has this morning announced the signing of a £3.6m sponsorship agreement. The counterparty hasn’t been named yet – that comes next month – and the number is small, but the fact that this concept is growing in traction is something to watch. No further detail, such as Guild’s anticipated profit from such a deal, is included either.
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