Small caps news round-up

SolGold was brimming with confidence in its Cascabel exploration on Wednesday, returning final assay results from hole 14 at the Alpala Central deposit. The AIM-traded company said the results were from hole 14, which tested eastern extensions of the Alpala Central deposit.

Shares in AIM-listed Milestone Group shot to a year's high after a fundraising at a premium price. Milestone, whose shares closed at 0.4p on Tuesday, completed a £0.54m fundraising at a price of 1p ahead of its annual shareholder meeting.

Resource investing firm Polo Resources entered 2016 with confidence, it reported on Wednesday, with most of its investments showing positive progress in the last six months of 2015. The AIM traded company’s net assets totalled $73.03m on 31 December, and $75.53m on 16 March. Its net asset value per share was 16.31p at the end of 2015, and 17.23p on 16 March.

Summit Therapeutics reported positive interim findings on Wednesday, from a recent Phase 1 trial of a new oral formulation of its SMT C1100 therapy for Duchenne muscular dystrophy. The AIM-traded drug discovery and development company focuses on advancing therapies for Duchenne muscular dystrophy (DMD) and Clostridium difficile infection.

Advancing technology and strong cost controls led Electrical Geodesics closer to profit in 2015, though the company still had some way to go before reporting earnings. Revenues for the AIM-traded neurodiagnostic medical technology company rose 3.2% during the calendar year to $13.6m, from $13.2m in 2014. Of that, $7.7m was from North American sales - up from $5.5m - while international sales decreased to $6m from $7.7m.

Beleaguered investment company Clear Leisure updated the market on its investigations into just what it owns on Wednesday, providing some clarity - but remaining far from any final answers. The AIM-traded company’s board was appointed to a firm in disarray in July 2015, and at the time promised to undertake a major due-diligence on the status of its investments.

Tasty, operator of the chain of Wildwood and Dim T restaurant chains, served up an appetising set of final results, with both sales and profits up 20%. The AIM-listed company said current trading since the year end has been "broadly in line with expectations", which represents encouraging stability in the choppy seas of the eating-out sector where recent data found sales were flat in February and that the industry is expecting a tougher year ahead.