KEFI Minerals (LON: KEFI) have seen their shares surge on Monday morning, after the firm picked its bank funding for its Tulu Kapi operations.

KEFI Minerals an exploration and development company focussed on gold and copper deposits, primarily in the highly prospective Arabian-Nubian Shield.

The Tulu Kapi project is based in Ethiopia with a Probable Ore Reserve of 1.0 million ounces and Mineral Resources totaling 1.7 million ounces.

Shares in KEFI Minerals surged 36.88% to 1.74p after the update. 2/12/19 12:06BST.

Just one week ago, the firm announced that they were pondering options on how they would finance these developments.

The firm has seen success in the last few weeks, as KEFI saw their shares rally 55.11% at the start of November after conflicts were resolved with regard to internal internal administrative arrangements in Ethiopia.

The fact that this dispute was resolved gave KEFI the green light to pursue operations in the Tulu Kapi project, and now finance options have been weighed and finalized.

It has gone with the bank-based proposal, it said Monday, believing it to be financially “more attractive” and easier to executive.

“In addition, the proposed bank lenders are actively working in Ethiopia, are familiar with the local market and many of our local stakeholders and thus considered more compatible with the project consortium,” said KEFI.

KEFI said that the total funding requirement for infrastructure and mining was $154.9 million, but a bond-lease based financing package would lead to interest payments twice that of a bank loan, and also higher financing-related costs.

“We have been very well supported by the bond-lease proposal and now we also have an attractive bank-loan based alternative because capital market support for our project has recently improved markedly, both inside and outside Ethiopia,” said KEFI Finance Director John Leach.

“The expected savings from the preferred bank-based infrastructure finance proposal provide our project subsidiary, Tulu Kapi Gold Mines, with the opportunity to develop and further explore the underground Tulu Kapi deposit and significantly increase value for shareholders, without reducing net cash flows available for other purposes,” he added.

The first six months of work will be funded by project partners, including the Ethiopian government. KEFI would then plan to draw the bank loan mid-2020.

In the minerals and mining sector, firms have struggled in a period of tough trading.

Fresnillo have seen their shares dip on Monday morning, after the FTSE 100 listed miner announced cuts in its production guidance.

This comes in similar fashion to big name rivals such as as Hochschild Mining and Antofagasta recently slashed their expectations.

Shareholders of Trainline PLC (LON:TRN) have seen their shares dip on Monday morning, after Labour announced its travel policies for the upcoming election.

Trainline, formerly branded Thetrainline.com, is an independent digital rail and coach platform. It sells tickets through its website, by telephone, and through its mobile app Trainline’s main offices are in London, Paris and Edinburgh.

Shares of Trainline dipped 3.64% to 450p on Monday. 2/12/19 11:45BST.

The Daily Mail, on Sunday reported that the firm would face a direct rival if the Labour Party were to win the election, which alerted shareholders.

As part of Labour’s nationalization plans were it to get into power, the UK government would create a ‘one-stop shop’ for rail passengers to buy tickets online without booking fees, the Mail reported without citing its sources.

This comes as part two of Labour’s headline policies for the December 12 election, after the party announced a few days back that it had intentions to nationalize BT (LON: BT.A) in an attempt to win voters.

The FTSE 250 listed firm has yet to comment on the situation formally, however shareholders do seem concerned as reflected in this morning’s stock price movements.

Labour’s policy will not only be a major blow to Trainline, but would also hit the many shareholders and pension funds that have been placed in good faith within the country.

This all comes part of Jeremy Corbyn’s plans to put power back into the hands of government, in an era where apparent nationalization has never been more important. However, this idea can be thoroughly contested.

Labour had detailed its plans to renationalize the railways but had not outlined plans to introduce a central ticket-selling service.

Labour’s plans would not affect Trainline’s operations in selling train tickets abroad. But the UK makes up a large chunk of the company’s business, with net ticket sales worth £1.65 billion last year.

Shareholders of Ted Baker plc (LON: TED) have seen their shares crash following announcements of a £25 million balance sheet error.

Ted Baker plc is a British luxury clothing retail company, and is a stable name on the British high street.

Shares in Ted Baker crashed 9.12% to 361p after the announcement. 2/12/19 11:18BST.

The firm warned investors that it will take a £25 million hate, after it overstated the value of inventory on its balance sheet.

The retailer has appointed Freshfields Druckhaus Deringer to investigate the issue and told shareholders that it estimates an impact on the value of the stock of between £20 million and £25 million.

The interim period has not been pleasant for Ted Baker, as the firm reported a half year loss at the start of October.

The Magic Circle law firm will appoint independent accountants to undertake a “comprehensive review” of the issue, Ted Baker said.

“Ted Baker is committed to ensuring the independent review is completed in an efficient and transparent manner and will update the market as appropriate,” Ted Baker said in a statement.

“Whilst the review is ongoing, the company will not comment further.”

Liberum called the discovery “less than ideal”.

“In our view, it is indicative to some degree of the very early stage work that the new and highly regarded CFO, Rachel Osborne, is undertaking,” the broker said.

“The board believes that any adjustment to inventory value will have no impact on the year-end cash balance and will relate to prior years. We keep our recommendation under review as there are further moving parts that may need consideration, which naturally lead to some additional questions.”

This issue will not come at a pleasant time for newly appointed Rachel Osnorne, who was appointed finance head just a few weeks back.

The issue was mentioned in Ted Baker’s last annual report from information provided by auditors KPMG.

AJ Bell’s investment director Russ Mould said it appeared that “Ted Baker has found another banana to slip up on”.

“Discovering that the value of inventory on its balance sheet has been overstated is a huge blunder on its behalf,” he said.

“It suggests that the business hasn’t got a grip on its numbers which is a bit worrying considering that new chief executive Lindsay Page used to be the finance director.

“Appointing a law firm and the intention to bring in independent accountants will raise questions about whether more serious problems are bubbling under the surface at the business.”

The company is due to publish its latest trading next week.

Fresnillo Plc (LON: FRES) have seen their shares dip, after the firm gave shareholders a disappointing update on Monday morning.

Fresnillo plc is a Mexican-based precious metals mining company incorporated in the United Kingdom and headquartered in Mexico City. It is the world’s largest producer of silver from ore and Mexico’s second-largest gold miner.

Shares of Fresnillo dipped 3.43% after the modest announcement, and trade at 557p. 2/12/19 11:04BST.

Fresnillo, have seen a trading slump over the last few weeks and shares have been volatile. At the end of October, the firm reported low output at the end of its third quarter, which saw shares in red.

Today, the FTSE100 listed miner announced expectations that its 2019 production guidance would be at the lower end of their target.

Fresnillo follow a string of firms in the industry who have seen their guidances cut, and noteworthy names such as Hochschild Mining and Antofagasta recently slashed their expectations.

Additionally, the firm said that its objectives going forward were to focus on stabilizing production, improving operational performance and delivery projects on time.

Ahead of its capital markets day in London on Monday, Fresnillo set its 2019 production guidance at the bottom of its previously guidance range.

The miner said it expects to produce 885,000 ounces of gold and 55 million ounces of silver. In October, Fresnillo had guided for 880,000 ounces to 910,000 ounces of gold for 2019, and for between 55 million ounces and 58 million ounces of silver. However, it had said at the time that it expected 2019 production to be towards the lower end of each range.

The firm alluded to the planned Noche Buena mine closure and lower production from the Herradura site, which led to 2019 capital expenditure forecasts of around $585 million.

“Our priorities for 2020 are to stabilise production, and to unlock the full potential of our current mines and projects. We will focus on operational improvement and efficiency, while de-risking and advancing our development pipeline, most notably the new Juanicipio mine,” said Chief Executive Octavio Alvidrez.

“We are confident that with the proactive measures put in place at our mines, together with our consistent, focused strategy, we will deliver on these priorities and that we will continue to create sustained value for stakeholders in the long-term, balancing growth with returns and maintaining a solid financial position,” Alvidrez added.

For 2020, gold production is predicted at 785,000 ounces and silver at 66 million ounces. Gold output is estimated at 665,00 ounces and silver at 71 million ounces for 2022.

The estimates for future is based upon current geological models and anticipated production improvements, Fresnillo said.

Whilst, Fresnillo have seen a slump in the market gold mining competitor Serabi Gold have seen their shares climb as they gave shareholders an impressive update.