Small caps news round-up

Russia focused gold explorer Eurasia Mining reported a maiden reserve calculation at its Semonvsky tailing project, which is in partnership with Metal Tiger. The AIM-listed company reported a calculation for the mine under the Russian system of reserves assessment standards.

Petroneft saw production at one of its two licenses decline and reported that a major step out well had come up dry and would be plugged. Russia-focused Petroneft said gross production from License 61 in the Tomsk oblast region in central Russia was running at approximately 3,300 barrels per day (1,650 bopd net to PetroNeft), down from a peak of about 3,700 barrels in July.

HSS Hire Group reported a smaller loss in the first half of the year and said trading in the third quarter was ahead of last year, but analysts and investors remained cautious. Revenue in the six months to 2 July swelled to £166.2m, a reported rise of 13.5% on the previous year, 12.8% on an organic basis or 9% on a comparable 26 week period.

Testing and advisory services company Exova Group has booked a profit of £20.1m for the first half, from £18.3m a year ago, and raised its interim dividend up to 1.05p a share, from 1p. The company saw strong performances in its product and certification operation, along with aerospace, health sciences and the Middle East. However, it noted that oil & gas and industrials continued to weaken with forward visibility remaining poor.

Testing and advisory services company Exova Group has booked a profit of £20.1m for the first half, from £18.3m a year ago, and raised its interim dividend up to 1.05p a share, from 1p. The company saw strong performances in its product and certification operation, along with aerospace, health sciences and the Middle East. However, it noted that oil & gas and industrials continued to weaken with forward visibility remaining poor.

Shares in Gulf Keystone have flopped almost 30% after the company issued a competent person's report (CPR) and outlined a $25m open offer. Gulf Keystone's offer was for up to 2.29m shares at 0.8314p each. At about 14:46 BST, shares in Gulf Keystone were down 26.03% to 3.58p.

Styles & Wood has been appointed as one of four strategic partners by “one of the world’s largest” banking and financial services organisations for the delivery of its UK Capital Plan over the next five years. The integrated property services and project delivery specialist said the appointment to the associated framework is expected to deliver revenues in excess of £100m evenly spread over the term of the contract.

While business remains in line with expectations,Carclo warned it is unlikely to be able to pay its dividend after the slump in corporate bond yields since the Brexit led to a "significant" increase in its pension deficit. At its June annual results Carclo, which has seen generally strong trading from its LED technology, Technical Plastics and aerospace divisions so far in the financial year to 31 March, had declared a final dividend of 1.95p per share, which is due to be paid on 7 October.