Small caps news round-up

Asiamet Resources responded to an unusual rise in its share price and trading volume on Thursday, saying all was progressing as expected. The AIM-traded company confirmed it remained on track to release the findings of a preliminary economic assessment on the Beruang Kanan Main Deposit, located within its 100% owned KSK Contract of Work in Kalimantan, Indonesia, on or close to the end of the first quarter, which was previously advices.

Ariana Resources’ joint venture at the Kiziltepe Mine, on the Red Rabbit Gold-Silver Project in Western Turkey, was said to be progressing well on Thursday, as the firm updated the market on its progress. Kiziltepe was being advanced towards production through a joint venture with Proccea Construction Company, and targeting production in the second half of 2016.

Immedia Group scored a major contract renewal on Thursday, convincing BT Group to keep subscribing to its tailormade radio service for the employees of one of its largest divisions. The AIM-traded company said the contract was for the supply of an interactive, 24/7 real time digital radio channel to employees in its local loop operations arm Openreach, using Immedia’s mobile audio streaming platform.

OneSavings Bank has completed the purchase of a portfolio of UK first charge residential mortgages. The portfolio had an outstanding balance of £112m at the end of February and is being acquired at a discount to par. The transaction will be satisfied by cash from OneSavings’ existing resources.

Salt Lake Potash had a bit more cash in its back pocket than it expected on Thursday, having received enough subscriptions to increase its Australian placement announced on Wednesday to AUD 8.38m (£4.46m), from AUD 5.2m. The AIM-traded firm said proceeds from the placement would be used to accelerate the company’s planned development initiatives at its flagship Lake Wells Sulphate of Potash project.

AssetCo was looking up in 2015, reporting sizeable growth in revenue and profits in the 12 months to 30 September 2015. The AIM-traded company reported an operating profit of £4.4m during the year, up from £2.6m in 2014, on revenue of £21.7m, from £14.6m. AssetCo’s profit before tax totalled £4m, compared with £2.3m.