Small caps news round-up

Georgia Healthcare reported a stonking rise in half-year sales and profits, with the latter boosted further by a non-recurring tax benefit. Revenues raced ahead by 55.5% to a record 174.2m Georgian Liari (GEL) when compared with the year-ago period, allowing the central Asian country's largest hospital operator to ring-up a 239.6% jump in net profits to GEL45.2m (£14.4m).

Sunrise Resources on Monday reported “positive progress” at its Pozz Ash project in Nevada. Initial tests of the project confirmed a potential source of natural pozzolan for use in cement and concrete mixtures. The company said further mineralogical and process tests are underway.

AorTech International on Monday reported an increase in full year operating losses, reflecting bad debt provisions. The biomaterials and medical device IP company said operating losses rose to $575,000 in the year ended 31 March 2016 from $455,000 the previous year.

Tanzania-focused coal-to-power project developer Edenville Energy updated the market on the latest developments with regard to the project on Monday. The AIM-traded firm said that on 10 August 2016 the Tanzanian Ministry of Energy and Minerals announced a directive banning the importation of coal into Tanzania, and said it understands the ban is effective immediately.

Hydrogen fuel cell manufacturer AFC Energy shares rocketed after the company unveiled its new brand identity to mark its transformation from a research and development-focused technology outfit and into a commercial company providing large-scale industrial applications. The company's share price had more than double since mid-June when it announced the receipt of a €2.052m net cash payment from the European Union's Fuel Cells and Hydrogen Joint Undertaking as a part of the POWER-UP programme.

Nostra Terra noted an announcement made by Independent Resources on Monday morning, concerning the company's joint venture vehicle Independent Resources Egypt (IRE). The AIM-traded firm owns IRE jointly withIndependent Resources, and said it wanted to issue a further clarification to shareholders.

Shell company Leed Resources said its shares will be cancelled from AIM trading on Tuesday but it still hoping to complete a reverse takeover of High Mannor, a Western Australian maker of limestone retaining walls. The cancellation of the company's shares is due to the board's failure to complete a deal within the time limits stated in the AIM rules for companies, having been suspended for the maximum of six months, but Leed said it will enabe its shares to be traded on an online matched-bargain auction facility.

Thor Mining announced a new drill campaign on Monday, which its board said is designed to confirm the close proximity of additional tungsten mineralisation within a six kilometre radius of the company's existing Molyhil tungsten deposit in the Northern Territory of Australia. The AIM-traded firm said the 50-hole drill programme is designed to test bedrock through shallow alluvial cover, and was targeting magnetic anomalies with similar characteristics to Molyhil.