Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Taseko miners’ strike set to be resolved
Slim pickings for a Monday morning but Taseko Mines [LON:TKO] has announced a tentative labour agreement at its Gibraltar mine. The deal is still subject to union ratification but that’s expected to happen within 48 hours with mining to resume on Wednesday. Operations were suspended at the start of the month, leading the share price around 20% lower as a result.
#2. Mind Gym tips to loss as HR spend dries up
Mind Gym LON:MIND has full year results out today, with the company noting revenues off by 18%, gross profit margins down by 220bps and cash in the bank down at £1.4m compared to £7.6m a year ago.
That’s resulted in a £12m loss, down from a £3m profit this time last year with macroeconomic headwinds especially in the US tech sector notably weighing, including the company flagging a market-wide decline in DEI spending, Management note that they have sufficient liquidity and access to an undrawn £2m loan facility, with EBITDA profitability and cash generation anticipated for FY25.
#3. Fireangel buyout goes unconditional
And Fireangel Safety Technology LON:FA. has this morning confirmed that the buyout offer from Intelligent Safety Electronics has gone unconditional after the bidding party including its own holdings secured almost 80% of Fireangel’s issued shares. The combined firm will not trade on a public market.
