Small caps news round-up

Romania and Zimbabwe-focused mining company Vast Resources announced on Monday that it has secured a loan facility and signed a conditional agreement for the partial disposal of a non-controlling interest in its Pickstone-Peerless Gold Mine and Giant Gold Mine, providing gross proceeds of $8m, primarily to advance the company's core activities in Romania. The AIM-traded company said the strategic investment by SSCG Africa Holdings provided gross proceeds of $8m to Vast, by way of $4m cash consideration for the sale of 49.99% of the Company's 50% interest in the two mines.

LGO Energy is “disappointed” on learning the Spanish government has not approved the extension of its concession in the country and the oil and gas firm is looking to reapply. The AIM-listed company maintained that the pending the extension decision, and along with present oil prices, it would have a “minimal impact” on its finances as LGO Energy focusses its operations in Trinidad.

Energy procurement consultant Inspired Energy provided a trading update for the financial year to 31 December on Monday, saying it expected to report results in line with market expectations, which were revised upwards during the year. The AIM-traded company said group revenues are expected to be about 40% ahead of 2015, with adjusted EBITDA 45% ahead of the previous year.

Intelligent lighting and building control designer and manufacturer PhotonStar LED Group announced a trading update for the year to 31 December on Friday. The AIM-traded company said it experienced challenging trading conditions in the second half of 2016, and as such the group's results for the year were expected to be below current market expectations.

Gas and electricity supplier Yu Group anticipates maiden revenue for the year to be ahead of expectations, while it has moved to charge customers in arrears of energy, instead of in advance. The AIM-listed company, which floated in March 2016, anticipates revenue for the 2016 calendar year will be “slightly" ahead of expectations.

Online estate agent Purplebricks confirmed a record monthly level of valuations and instruction activity in January as it expects trading to show year-on-year growth. In its interim results on Friday that it was entering 2017 in its strongest ever position, with significantly increased capacity, record instructions, sales and revenue together with a more advanced infrastructure.

Market research firm YouGov said that trading in the first half of the year is expected to be ahead of expectations, due to growth in the data products and services divisions, boosted by weak sterling. The AIM-listed company said that the revenue from the data products and services divisions continued to grow “strongly” in line with expectations, while its syndicated data products, YouGov BrandIndex and YouGov Profiles, expanded their client bases with YouGov Profiles in particular gaining traction in the market.