Small cap round-up
Tanzania-focused mineral exploration and development company Kibo Mining announced on Wednesday that it has signed a share purchase agreement, to effect the consolidation of the Imweru and Imwelo gold projects.
The AIM-traded firm said that under the agreement, Sloane Investments - a wholly owned subsidiary - will acquire Tanzoz Minerals - a wholly owned subsidiary of Lake Victoria Gold.
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.
AIM-listed residential property developer Trafalgar New Homes swung to a profit in the year to the end of March.
The company reported a pre-tax profit of £204,877 compared to a £619,106 loss the year before, despite a drop in turnover to £2.2m from £3.9m in 2015.
Prospex Oil and Gas updated the markets on its investment in the 1,150 sq km Kolo Licence, onshore Poland on Wednesday, where a well remains on track to be drilled on the Boleslaw conventional gas prospect in the fourth quarter of this year.
The AIM-traded company said Kolo is 100% owned by Strzlecki Energia, a wholly owned subsidiary of Hutton Poland in which Prospex holds a 49% interest.
Dairy Farm International confirmed it has invested a further $190m in Yonghui Superstores in order to keep its share of the Chinese supermarket chain as it completed a new round of fundraising.
London-listed and Bermuda-registered Dairy Farm bought 287m shares to maintain its stake in Yonghui at 19.99% as the Shanghai-listed company sold JD.com a 10% interest and its chairman Zhang Xuansong bought a 2% interest.
Emerging manufacturer and supplier of MSAR emulsion fuels Quadrise Fuels International announced the execution of the memorandum of understanding for starting the “Production to Combustion” trial in Saudi Arabia on Wednesday.
The AIM-traded company outlined the MoU in its end of year update on 5 July.
Venture capital trust Mobeus Income & Growth posted its results for the six months ended 30 June on Wednesday, with net asset value total return per share for the half-year of 0.3% and share price total return per share for the half-year of 3.8%.
The AIM-traded firm said shareholders received a final dividend in respect of the year ended 31 December 2015 of 7p per share on 31 May.
Salt Lake Potash advised the market of the results of a comprehensive geophysical survey at Lake Wells on Wednesday, as well as “outstanding” initial test pumping results of brine from the Lake Wells paleochannel.
The AIM-traded company said the results “substantially enhance” the potential for production of sulphate of potash (SOP) by brine extraction and solar evaporation at the Lake Wells Project.