Small caps news round-up
East Africa-focused gold producer Shanta Gold swung to a pre-tax loss of $18.1m in 2015 compared with a profit of $16.6m the year before as gold sales and revenue per ounce fell. Revenue fell to $95.7m from $114.9m as the average realised gold price dropped to $1,163 per ounce from $1,289.
Specialty clinical laboratory diagnostic solutions company Immunodiagnostic Systems Holdings announced the launch of the IDS-iSYS 17-OH Progesterone assay in the European market - the first product released as part of its upcoming steroid hormones fertility portfolio. The AIM-traded firm said the assay measures a patient’s 17-OH Progesterone level, and offers clinicians a non-invasive way to diagnose disorders of the adrenal gland or ovaries such as congenital adrenal hyperplasia or polycystic ovary syndrome.
Natural resources project investor Metal Tiger announced a further investment in Conroy Gold and Natural Resources on Friday. The firm has now acquired a total 185,000 shares in its fellow AIM-traded investment through on-market purchases at an average price of 24.6p.
International assistance business CPP Group announced Jason Walsh as its new group chief executive on Friday, with effect from 16 May. The AIM-traded company said Walsh will also be joining the board of directors from the end of its annual general meeting on 18 May.
European oil and gas exploration and production company Ascent Resources revealed a disappointing development on the decision from the Administrative Court of Slovenia over its IPCC environmental permit application. The AIM-traded firm said the contractor to its joint venture that initially filed the IPCC application, Petrol Geotherm, had been informed of the court’s decision to withdraw the permit which was granted in June last year.
Video software owner and developer Forbidden Technologies did some high-level shuffling on Friday, promoting non-executive director David Main to non-executive chairman. The AIM-traded firm’s founder and current executive chairman, Stephen Streater, was moving into the role of research and development director. Both changes were made with immediate effect.
Designer and producer of fuel cells and electric hybrid systems, Proton Power Systems, reported on a year of reduced sales but a narrower loss on Friday. The AIM-traded company said the reduction in sales to £0.68m from £1.41m in 2014 was due to the phasing of its Siemens order within the 2015 calendar year.