Small cap round-up

GLI Finance’s alternative finance platforms were focused on delivering financial solutions to small and medium enterprises (SMEs).

Full-year profits at Hargreaves Services sank as the company continued to restructure its operations in the face of low coal prices and UK coal generation-based power plant closures.

Continuing revenues for the twelve months ending on 31 May shrank 48.6% to £340.7m, contributing to a 89.3% drop in continuing underlying profits on an operating basis to £4.6m.

Great Western Mining announced on Tuesday the signing of a cooperation agreement for the initial development of its M1 copper-gold prospect in Mineral County, Nevada.

The AIM and ESM-traded firm said the agreement is with neighbouring interest holder Crown Point Gold & Silver Mining, and includes 34 of the company's claims in the immediate vicinity of the historic Huntoon Mine.

Crown Point holds six adjoining claims.

Brazil-focused nickel development company Horizonte Minerals announced its unaudited financial results for the six months ended 30 June 2016 on Tuesday.

The AIM-traded firm once again reported nil revenue, and a loss from operations of £786k, widening from the £538k loss at the same time last year.

Its total loss before tax for the period was £956k, compared with £624k.

Mytrah Energy, an India based renewable power producer, has announced that it has appointed two new chief financial and executive officers.

The company promoted its current CFO Vikram Kailas to CEO, effective immediately. Kailas will also continue his role as vice chairman and managing director of a subsidiary of the company, Mytrah energy private limited (MEIPL). He is replacing Ravi Kailas who will continue his role as chairman of (MEL).

Australian gold and copper miner SolGold’s subsidiaries have made developments in Ecuador as the company sees the country as a strong exploration and mining destination.

The company’s subsidiary Lundin Gold agreed terms on an investment protection agreement for the Fruta del Norte mining project with the Ecuadorean government, just seven months after its exploitation agreement completed. The Odin Mining subsidiary revealed plans to merge withEcuador Gold and Copper.

Cannabinoid-focused pharmaceutical company GW Pharmaceuticals posted financial results for the third quarter ended 30 June on Tuesday.

The AIM-traded company reported a loss for the nine months of £46.7m, compared to £32.3m for the nine months ended 30 June 2015.

It said the increased loss primarily reflects investment in the Epidiolex Phase 3 pivotal trials program.

Miner Diamondcorp’s Lace diamond mine in the Free State Province in South Africa successfully restarted in July and is producing 30,000 tonnes per month.

The AIM-listed company said August was the first month of commercial production and processing of kimberlite for the month averaging at 31 carats per hundred tonnes, which is line with forecasts.