Small cap round up

Base Resources updated the market on its mineral resources and ore reserves at the 100% owned-and-operated Kwale operation on Tuesday, for the year to 30 June.The ASX and AIM-traded company said mineral resources at Kwale were estimated to be 134.6Mt at an average heavy mineral grade of 4.2% and 26% slimes containing 5.62Mt HM, based on a 1% HM cut-off grade.

Haydale Graphene Industries announced on Tuesday that it has raised gross proceeds of £0.5m in the open offer announced on 23 September, which was heavily oversubscribed. The AIM-traded firm said its total fundraising exercise raised approximately £2.6m, comprising £2m from the placing, £0.5m from the open offer and approximately £55,000 from the subscription.

RedstoneConnect has made progress in shifting its financial model towards more annuity-based revenue streams in the first half after deciding to focus on providing technology and services for smart buildings and commercial spaces.The group’s revenue from continuing operations for the six months to 31 July rose 1.5% to £20.8m and its gross margin increased by 3% to 19% in six months ending 31 July 2016.

Nanoco Group, an Aim-listed company that specialises in the development and manufacture of cadmium free quantum dots and other nanomaterials, secured two more license agreements to support its strategic shift towards out-licensing in the display sector, but saw cash outflows accelerate. The firm signed non-exclusive agreements with German pharmaceutical company Merck and Taiwanese optical film producer Wah Hong in July 2016. The deals add to its revised agreement with American headquartered Dow chemical company, signed in January 2013.

AIM-listed molecular diagnostics company Genedrive’s revenue grew as it re-focused to concentrate on its Genedrive platform, launched a new test in India and changed its name. For the year ended 30 June, the company, formerly Epistem, reported 12% growth in turnover to £5.1m, compared to the previous year.

Spoken word audio on-demand platform company Audioboom posted a trading update for the three months to 31 August on Tuesday.The AIM-traded firm said that, following the release of the Interactive Advertising Bureau publishing guidelines in September, Audioboom is adopting many of its recommendations as standard practice for all its future reporting.