Small caps round-up

Rare Earth Minerals reported the analytical results for a further two drill holes CIW-07 and CIW-08 at the Cinovec Lithium-Tin-Tungsten Project on Tuesday. The AIM-traded firm currently holds a 17.64% economic interest in the project through its direct equity stake in European Metals Holdings, increasing to 20.84% following the annual general meeting of EMH to approve a further investment by REM.

Mineral exploration and development company Sunrise Resources posted a summary of progress to date on its priority Bay State Silver Project on Tuesday. The AIM-traded firm said historical production was focused on Chihuahua Vein, with significant production including direct shipping ores up to 7,200 g/t silver.

Africa focused oil and gas exploration group Bowleven posted its preliminary results for the year to 30 June on Tuesday, in another year of nil revenue, though operating expenses were lower at $9.1m compared with $11.87m a year earlier. The AIM-traded company reported an operating loss before financing costs of $143.21m, almost double the $87.83m in 2015.

ESports company Gfinity posted its full year results for the 12 months to 30 June on Tuesday, with revenue increasing by 158% to £1.45m. The AIM-traded firm said its operating loss decreased by 12.0% to £3.2m, and its loss per share reduced 33.3% to 4p.

US-based Diversified Gas & Oil is to float on the London Stock Exchange's AIM junior market in December, as it seeks to raise about £48m ($60m) for further investment via a share placing. DGO operates a number of wells within the Appalachian Basin spread across Ohio, Pennsylvania and West Virginia, a hydrocarbon prospective area, which is geologically regarded as a low-risk oil and gas play.

AIM-listed software company Craneware, a provider of healthcare billing, auditing, chargemaster management and medicare compliance, said it had made progress in the first few months of the financial year, while accumulating a pipeline of new product launches. In September, the Edinburgh-based company said it moved back into double-digit revenue and adjusted earnings before, interest, tax, depreciation and amortisation (EBITDA) growth, as sales made during the year started to contribute to revenue.

Ceres Power Holdings posted its final results for the year to 30 June on Tuesday, with total revenue and other operating income rising to £1.67m from £0.95m a year earlier. The AIM-traded firm’s revenue rose to £1.11m, from £0.32m, while other operating income declined to £0.56m from £0.62m.