Endeavour Mining initiated with an Outperform at Credit Suisse. Credit Suisse analyst Fahad Tariq started coverage of Endeavour Mining with an Outperform rating and C$32 price target. The analyst continues to believe gold miners will operate against a backdrop of higher gold prices year over year in 2019, and estimates an average gold price of about US$1,280/oz in 2019.
Endeavour Mining announces the appointment of Mark Morcombe as COO, with effect from May 6, 2019. He will take over from Jeremy Langford who will be leaving Endeavour on February 28, 2019. Prior to joining Endeavour, Mark was Chief Operating Officer of Centamin Plc and has previously held senior roles at several Africa-focused mining groups, including Acacia Mining, AngloGold Ashanti and Gold Fields.
The board of Draper Esprit VCT announced that the company has published an offer document relating to an offer for the subscription in respect of up to EUR7M worth of new ordinary shares. In respect of the 2018/2019 tax year, the offer will close on April 5 and, in respect of the 2019/2020 tax year, it will close on May 31, unless extended or fully subscribed earlier. By percentage of net asset value, new subscribers would be buying into a portfolio made up of 31% Draper Esprit technology investments, cash of 30% to be invested in further technology investments and a legacy portfolio representing 39% of the total. Consequently, if this offer is taken up in full, once invested, the company will have over EUR30M allocated predominantly to technology investments which will be driven by one of the UK's technology investment managers. As for the legacy portfolio, 91% is made up of four companies. Two are AIM quoted and the other two are private companies which are engineering and manufacturing businesses.