TRADING UPDATES: Brooks Macdonald names Lucy Tilley as new CFO
The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Trekor Metals Ltd - North America-focused copper producer formerly known as Taseko Mines - Says third-quarter copper production totals 41 million pounds from its 100%-owned Gibraltar mine and Florence Copper production facility. Says Gibraltar produced 34 million pounds of copper and 380 thousand pounds of molybdenum in the period, up 12% from the prior quarter, with continued "strong grades" from the Connector Pit, as well as increased mill throughput and improved SX/EW plant performance. Says copper sales from Gibraltar totalled 31 million pounds. Adds that Florence's "ramp-up continued...with steady monthly production growth." Copper cathode production totalled seven million pounds, up 36% on-quarter, with sales totalling seven million pounds. "The one area where progress remains behind our initial plan is the wellfield expansion," Chief Executive Officer Stuart McDonald comments. "Drilling rates have improved in recent months, but we are still about three months behind our original plan. We are now expecting 25 to 28 million pounds of copper production in 2026. Wells recently brought online, together with those expected to come online shortly, are anticipated to support a significant increase in cathode production, completing the ramp-up to full production capacity in early 2027."
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Baker Steel Resources Trust Ltd - London-based investor in natural resources, gold and precious metals - Net asset value is £181.5 million, or 172.4 pence per share, at September 30, down 4.6% from one month prior, "largely due to decreases in the listed share prices of Tungsten West and Blue Moon Metals." Says no shares were repurchased in September. Company notes that on September 14, Blue Moon announced a joint venture agreement regarding a series of strategic transactions "to unlock the value of Blue Moon's Springer Tungsten Complex" with The Elmet Group Co. These include Elmet providing a USD25 million equity investment and a USD50 million tungsten prepayment facility.
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Senior PLC - Hertfordshire, England-based engineering and manufacturing company - Scheme of arrangement for its acquisition by affiliates of Tinicum Inc and Blackstone Inc becomes effective, following the delivery of the court order to the registrar of companies. The scheme received court sanction on Wednesday. Senior expects the delisting and cancellation of its shares in London to take effect by the market open on Friday.
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Brooks Macdonald Group PLC - London-based wealth manager - Chief Financial Officer Katherine Jones steps down, effective immediately, and is succeeded by Lucy Tilley, subject to regulatory approval. Tilley will join the firm on October 12, and will join the board from the conclusion of Brooks Macdonald's annual general meeting on October 13. Company notes that Tilley was CFO at wealth management firm Stonehage Fleming "until recently", and fulfilled the same role at Mortgage Advice Bureau Holdings PLC from May 2015 to May 2024. "With three decades of experience in the financial services sector, she brings strong business experience, deep commercial acumen and leadership skills," says Chair Maarten Slendebroek.
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