Economy
Kenadyr Commences Drilling at South Zone
By Investors Hub
Kenadyr Mining (Holdings) Corporation has announced commencing drilling activities on the South Zone of Kenadyr’s 100 percent owned Borubai License, Kyrgyz Republic.
The South Zone is directly adjacent to Zijin Mining Group Co Ltd.’s Taldy-Bulak Levoberejny Mine deposit, currently in production.
Initial drilling is designed to intersect an area which was previously drilled by the Soviet’s between 1970 and 1990, and which intersected significant gold mineralization.
The South Zone is open in three directions and to depth and drilling in this zone has the potential to see increased grade of the mineralization (from historic numbers) as a result of increased core recovery (core recovery during Soviet drilling averaged only 60% recovery) and the use of Fire Assay versus ICP analysis techniques (which were predominately used during Soviet assaying).
The target depth of the initial drill hole is 850 meters.
Kenadyr is in a strong position to embark on this upcoming program, having a strong balance sheet, no debt nor significant payments owing, a strong institutional shareholder base and a management team with extensive in-country operational experience, and merger and acquisition expertise.
Dr. Alexander Becker, Kenadyr Chief Executive Officer, states, “Drilling has now commenced, ahead of schedule and this is a testament to the team’s strong efforts in the field along with the efficiency of QED, the drill contractor. The South Zone is a high priority area for Kenadyr with excellent underlying geology. It is open and strongly mineralized at the extent of drilling, according to historical results, and we look forward to retesting this area, to confirm the high grade results reported from previous drilling.”
Kenadyr’s Borubai project comprises a 100-per-cent-owned exploration licence covering a contiguous 164-square-kilometre land package that encircles the Zijin/Kyrgyz/Altyn newly constructed and operational TBL mine, in northern Kyrgyz Republic.
Zijin, the majority owner of the TBL mine, is one of China’s largest gold producers, second-largest copper and zinc producer, as well as a major producer of tungsten and iron ore. In 2015, Zijin’s sales revenue and net profit attributable to the parent company reached $11.44-billion (U.S.) and $255-million (U.S.), respectively, ranking first and second, respectively, among 14 major global public gold miners.
Kenadyr has 83,947,623 common shares issued, along with common share purchase warrants exercisable at various prices for an aggregate of 4,633,044 common shares, and 8,385,000 incentive stock options exercisable at $0.80 per share and subject to vesting.
By Aduragbemi Omiyale
The additional shares sold by Morison Industries Plc through private placement have been listed on the Nigerian Exchange (NGX) Limited.
The additional equities were brought to Customs Street last week, according to a circular issued by the Head of Issuer Regulation Department of the NGX, Mr Godstime Iwenekhai.
The company listed a total of 266,838,125 ordinary shares of 50 Kobo each at N1.50 per unit, amounting to N400.3 million, Business Post reports.
The listing of these new stocks of Morison Industries has increased the fully paid-up shares of the organisation to 1,256,000,000 ordinary shares of 50 Kobo each from 989,161,875 ordinary shares of 50 Kobo each.
“Trading licence holders are hereby notified that additional 266,838,125 ordinary shares of 50 Kobo each of Morison Industries Plc were (on) Tuesday, January 13, 2026, listed on the daily official list of Nigerian Exchange Limited.
The additional shares listed on NGX arose from the company’s private placement of 266,838,125 ordinary shares of 50 Kobo each at N1.50 per share.
“With the listing of the additional shares, the total issued and fully paid-up shares of Morison Industries Plc have now increased from 989,161,875 to 1,256,000,000 ordinary shares of 50 Kobo each,” the disclosure disclosed.
By Adedapo Adesanya
The Chartered Institute of Bankers of Nigeria (CIBN) has projected a single-digit inflation rate for Nigeria at 9.84 per cent in its wider optimistic forecast for this year.
In its 12th National Economic Outlook and Its Implication for Businesses in 2026, the bankers group saw a better metric compared to those of the Central Bank of Nigeria (CBN) and the International Monetary Fund (IMF).
The CBN and the IMF respectively see Nigeria’s economy growing at 4.49 per cent and 4.2 per cent, and the inflation rate dropping to 14.45 per cent and 18 per cent while the foreign reserves rise to N45.78 billion and $43 billion respectively this year.
However, in the outlook presentation by Professor Biodun Adedipe, the CIBN projects a 4.51 per cent GDP growth rate and a 9.84 per cent inflation rate. It forecast the exchange rate stabilizing at N1,420/$1 and the foreign reserves hitting $50.8 billion.
Business Post reports that Professor Adedipe, corporate finance scholar and founder of B. Adedipe Associates Ltd, has been presenting the national economic outlook since 12 years ago, with the firm claiming to initiate the trend in Nigeria, before even the CBN and others caught on with it.
Last week, after a revised approach Nigeria’s headline inflation eased to 15.5 per cent year-on-year in December 2025, down from 17.33 per cent in the preceding month. On a month-on-month basis, headline inflation slowed to 0.54 per cent in December, compared to 1.22 per cent in November.
Ahead of the data release, the National Bureau of Statistics (NBS) had cautioned that the rebasing exercise could result in a temporary “artificial spike” in the December inflation figures.
Mr Adeyemi Adeniran, the statistician-general of the federation, said the adjustment in the reference period, known as the base year, would affect the headline number.
“This artificial spike is a result of the base effect of December 2024, which is equated to 100, following the rebasing exercise,” Mr Adeniran said.
By Dipo Olowookere
Eighty equities appreciated on the floor of the Nigerian Exchange (NGX) Limited last week compared with the 84 equities recorded in the previous week, as 17 equities depreciated versus 22 equities in the preceding week, while 50 equities remained unchanged versus 42 equities of the earlier week.
NCR Nigeria gained 60.79 per cent to finish at N128.55, SCOA Nigeria grew by 59.36 per cent to N14.90, Deap Capital expanded by 48.67 per cent to N4.46, Jaiz Bank soared by 45.73 per cent to N8.19, and Omatek surged by 38.28 per cent to N1.77.
At the other end, Ikeja Hotel lost 12.38 per cent to settle at N35.05, Austin Laz declined by 9.20 per cent to N3.75, Eterna crashed by 7.71 per cent to N32.30, Universal Insurance went down by 7.69 per cent to N1.20, and Eunisell retreated by 7.57 per cent to N156.95.
The bourse remained bullish in the week, with the All-Share Index (ASI) up by 2.36 per cent to 166,129.50, and the market capitalisation up by 2.48 per cent to N106.354 trillion.
Similarly, all other indices finished higher apart from the AFR Div Yield index, which depreciated by 0.15 per cent.
In the five-day trading week, investors traded 4.607 billion shares worth N130.636 billion in 263,439 deals, in contrast to the 4.164 billion shares valued at N94.026 billion transacted in 248,254 deals a week earlier.
Further analysis showed that financial stocks led the activity chart with 3.126 billion units worth N47.225 billion traded in 94,186 deals, contributing 67.84 per cent and 36.15 per cent to the total trading volume and value, respectively.
Services equities followed with 353.436 million units sold for N5.096 billion in 17,764 deals, while ICT shares exchanged 277.263 million equities valued at N18.009 billion in 28,525 deals.
Sovereign Trust Insurance, Access Holdings, and Linkage Assurance were the busiest stocks last week, trading 1.406 billion units valued at N9.735 billion in 11,732 deals, contributing 30.52 per cent and 7.45 per cent to the total trading volume and value apiece.
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