Small caps news round-up
Orosur Mining continued to dig itself out of the hole it had fallen into as the company progressed on cost-cutting. Full-year fiscal revenues at the South America-focused gold explorer fell 35% to $42.87m, but the company’s bottom line, before impairments and write-offs, improved from the net loss of $6.8m seen in 2015 to a profit of $1.42m.
AIM-listed investment company Armadale Capital said the geological mapping carried out at its recently acquired high-grade Mahenge Liandu graphite project in south-east Tanzania has confirmed extensive areas of graphite mineralisation. The company, which focuses on natural resource projects, said the mapping is consistent with the conductive targets identified by the recent electro-magnetic survey and further highlights the prospectivity of the project.
Amino Technologies, an internet solution provider to entertainment broadband operators, won a software licensing contract to provide its Enable TV device software to Hong Kong multimedia company, PCCW Media. The contract will allow Enable TV to support PCCW Media’s drive to deliver a new 4K UHD experience via Now TV, its new service, to support applications for information and customer service.
Powerflute Oyj announces its unaudited interim results for the six-month period to 30 June on Tuesday, with revenues excluding non-recurring items decreasing to €176.1m from €179.7m a year ago. The AIM-traded firm said EBITDA from operating activities was €26.5m on the same basis, in line with the comparative period.
Distribution and aviation company John Menzies said it was too soon to tell of the impact of the Brexit result as it reported a rise in half-year profits due to falling sterling. For the six months ended 30 June, pre-tax profit rose 6.5% to £18.1m compared to the same period last year, or up 2% on a constant currency basis, thanks to solid trading, the acquisition of Renaissance Aviation in Bermuda and stable operations at Gatwick airport.
The US government granted a patent to PureTech subsidiary Vedanta BioScience for its Clostridium live bacterial strains, triggering a $2m milestone payment from Janssen Biotech. Patent No. 9,415.079 ran until at least 2031 and broadly covered pharmaceutical compositions of Clostridium live bacterial strains, which were exclusively licensed to Vedanta BioScience under an agreement with the University of Tokyo.
Neuroscience company Cambridge Cognition Holdings announced results on Tuesday from a new technology feasibility study. The AIM-traded firm, which develops and markets near-patient technologies for the assessment of brain health to improve the drug development process, said the results demonstrate for the first time that consumer grade wearables such as the Apple Watch and Microsoft Band can be used to accurately measure clinically relevant cognitive performance in everyday life using the company's new Cognition Kit software.
EasyHotel announced on Tuesday that it has a further 96 rooms under development by its Benelux franchisee. The EasyHotel Amsterdam-Zaandam will be located on the ninth to eleventh floors of the Saentower in the heart of Zaandam, with construction expected to begin shortly and the hotel set to open early next year.