Small cap news round-up
Specialty lithium exploration and development company with assets in the Czech Republic, European Metals Holdings, released its interim unaudited financial report for the half year ended 31 December on Thursday, with its loss before tax widening to $3.16m from $1.31m.
The ASX and AIM-traded firm said that was primarily made up of share-based payment expenses of $2.67m, up from $0.56m, while revenue remained negligible at $8.5k, compared to $6.6k, with other income of $852, down from $23.3k.
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Oilex posted its interim report for the six months to 31 December on Thursday, with revenue down by almost two thirds at $0.06m, compared to $0.17m in the first half of 2015.
The AIM-traded company’s cost of sales was down significantly, however, to $0.19m from $0.54m, resulting in a gross loss of $0.13m compared to $0.37m in the comparative period.
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Miton Group's shares enjoyed an uptick of more than 8% as investors liked its doubling of full-year pre-tax profit and upbeat out-looking commentary.
"The business has demonstrated its resilience with momentum regained since the half year," said chairman Ian Dighe.
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Shares in Seeing Machines are down more than 12% after the company swung to a first-half loss on moving from a direct-to-market model in mining to a royalty arrangement with Caterpillar.
Seeing Machines said its pre-tax loss for the six months was A$14.1m, from a profit of A$11.3m. Total revenue was down to A$3.6m, from A$29.3m.
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Content-engineering group Stilo International improved its full-year pre-tax profits and revenue, accompanied with a rise in total dividend.
"The 2016 results benefited from the weakening of the UK pound, post the Brexit referendum in June 2016," said chairman David Ashman.
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High-growth technology-focussed venture capital company TMT Investments announced its final results for the year ended 31 December on Thursday, a year in which it made $6.15m of profitable cash exits from Depositphotos and VitalFields.
The AIM-traded firm also reported a $4.08m positive revaluation of Pipedrive, and $2.57m impairments of WhalePath, Adinch and Gild.
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AIM-listed engineer Hayward Tyler Group has won a $2m a nuclear related order through its US business.
The company will deliver seven units from 2018-20 and retrofit existing reactor water clean-up motors with its seal-less technology for a 3,400 megawatt US nuclear facility.
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Shares in Amerisur Resources surged on Thursday as the Oil and gas producer announced it will buy assets in Colombia for $4.85m in order to position the company for “significant growth” the Caguan-Putumayo basin.
The assets, subject to approval by the Agencia Nacional de Hidrocarburos (ANH), are to be bought from Meta Petroleum Corporation and Pacific Stratus Energy Colombia Corporation, who are both owned by Pacific Exploration and Production, a Canadian listed firm.
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AIM-listed investor LXB Retail Properties has completed the sale of most of its remaining land interests in Ayr, Scotland for £3.35m.
The proceeds, after accounting for expenditure, disposal fees and contracted costs, will have a “minimal impact” on the company’s net asset value.
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Aircraft investment firm Avation confirmed on Thursday that it was in discussion with a single prospective buyer over the sale of a number of its regional turboprop assets.
The AIM-traded company had announced on 26 October 2016 that it received an expression of interest to purchase a portfolio of 22 ATR 72 aircraft.
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Connected healthcare software and services EMIS Group announced its final results for the year to 31 December on Thursday, with total revenue rising 2% to £158.7m and recurring revenue 4% stronger at £128.5m.
The AIM-traded firm recorded adjusted profit of £38.8m, up 6% on 2015, while its reported profit surged 106% to £23.5m.
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AIM-listed Pharmaceuticals Clinigen and Diurnal are to launch a managed access programme in Europe for their drugs Infacort, which treats children with adrenal insufficiency, and Chronocort, which treat patients with congenital adrenal hyperplasia.
The managed access programme, which will be run by Clingen’s Idis managed access division, will enable physicians in the European Union to access Infacort and Chronocort as unlicensed medicines on an individual named patient basis for people who have no other treatment options, ahead of European approval and a commercial launch.
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Karelian Diamond Resources announced a 100 metre extension to the North West of the Riihivaara kimberlite body on Thursday.
The AIM-traded firm said the extension was indicated by the results of a series of till samples taken by the Geological Survey of Finland on behalf of the company.
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Marine engineering company Innosea is to advise Atlantis Resources on how the tidal engine company can enter the french market.
Atlantis claims that France has the second largest tidal power resources in Europe and is aiming to develop the first tidal array sites in French waters.
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AIM-listed explorer Regency Mines has created a joint venture with for a coal project in the US with cocal magnate Stephen Moscicki.
A memorandum of agreement has established a joint venture, 25% Regency and 75% Moscicki, to conduct due diligence over a metallurgical coal property of about 6,500 acres in northeastern Alabama in order to bring it into operation early.
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AIM-listed cloud communications software and solutions provider IMImobile has signed a global framework agreement with mobile operator Telenor Group following a competitive tender process.
IMImobile will supply its cloud Digital Service Delivery Platform, VAS (Value Added Services) Virtualization System and services for Telenor business units across the group.
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Bus operator Rotala has won a series of new contracts with Transport for the West Midlands (TfWM).
The contracts were won following TfWM's latest tender round for its supported bus contracts, which are due to commence operations on 23 April and will attract a subsidy from TfWM of around £866,000 a year.