Small cap round up
Fibre optic infrastructure designer, builder, owner, and operator CityFibre announced the acquisition of the entire metropolitan local access duct and fibre network assets of Redcentric on Monday.The AIM-traded firm said the acquired assets comprise 137 kilometres of duct and fibre networks serving 188 Redcentric customer connections, with principal footprints covering Cambridge, Portsmouth and Southampton, along with complementary incremental coverage in the existing CityFibre footprints of Nottingham, Derby and Northampton.
AIM listed miner Condor Gold said it was “making good progress” de-risking its Nicaraguan mine as it secured an environmental test for its processing plant during the first half of the year. During the six months ended 30 June, Whittle Consulting conducted a pre-feasibility study and preliminary economic assessments which found that the company's La India project in Nicaragua has a net present value of $196m and an average internal rate of return of 30% across four production scenarios at the mine.
Namib Lead-Zinc Project-focused resource company North River Resources posted its unaudited interim results for the six months to 30 June on Monday, with another period of zero revenue as it continued its exploration efforts.The AIM-traded firm reported a group operating loss of £1.13m, narrowing slightly from the £1.38m loss in the first half of 2015, with a basic and diluted loss per share of 0.06p, narrowing from 0.07p.
City of London Group (COLG), an AIM listed investment company that focuses on providing finance to the small and medium enterprises (SME) sector, reported on Monday a deeper annual loss. Following a significant deterioration in its financial position, its Trade Finance Partners Limited (TFPL) business ceased undertaking new business in the second half of the year and is now focused on recovering advances.
Myanmar-language social media, entertainment and payments platform MySQUAR announced on Monday that its gaming business continued to achieve encouraging results after the release of the game Hawk Hero on 12 September.The AIM-traded company said it is also providing an update of its planned mobile payments and VoIP businesses which have also made encouraging progress.
International timber processing, forestry management and renewable energy business Active Energy announced its interim results for the six months to 30 June on Monday, with an 11% increase in revenue to $13.41m and a 50% increase in gross profit to $1.84m. The AIM-traded firm said this was a result of improved purchasing conditions and stable prices, with work underway to increase output capacity by 33% to approximately 4,000 tonnes per day by Q4 2016.