LONDON (ShareCast) - Central China Goldfields said it was pleased with the results of the second round of drilling at the Dong Mao Huo gold project in China.

"Central China Goldfields is on track to produce early cash flow from small scale mining and gold production at Dong Mao Huo, with a targeted startup in the first quarter of next year," said the group.

"These initial drill results are encouraging in that they show that we are starting to define a mineable block in the West Hill," it added.

Shares in mobile phone entertainment group Mobestar hit a new 52-week low as it conceded the take-up of its services has been slower than anticipated.

Loss before tax in 2007 widened to £2.2m from £1.9m in 2006 on negligible revenue of £63,000, up from £18,000.

The company is seeing an expanded pipeline following the success of initial product launches for customers such as Gaydar, Whitelabel Dating and Bonefish.

Sensor networks company ViaLogy said Texas-based oil and gas exploration and production company Atascosa Exploration will use its QuantumRD technology to analyse seismic data prior to the commencement of drilling.

Data analysis on three prospective Texas-based well sites will begin immediately, the group added.

IT services firm RDF Group expects to report a pre-tax loss of £75,000 in the second half and a pre-tax loss of £40,000 for the year ended 31 March.

The group said it has decided to write off the balance of its investment in its Financial Services software product, resulting in an exceptional charge of £75,000.

Speech recognition group Eckoh Technologies said National Rail Enquiries has awarded a new three year contract to BT and Eckoh to provide TrainTracker Text, an interactive SMS text-based journey planning solution.

Advertising agency M&A Saatchi said it has made a good start to 2008 and believes the full year remains in line with expectations.

"M&C Saatchi continues to grow both revenues and profits and to deliver on its stated strategy of organic growth, drive towards higher margins, higher growth businesses and geographic expansion, with the number of our international offices now totalling 17," it added.

Shipping service firm Braemer said trading to date has been better than expected. First half profits are expected to be "well ahead" of last year's interim pre-tax profits of £7.1m

"Market conditions continue to be favourable for our businesses with as yet no significant adverse impact of either the global credit squeeze or the rise in the oil price. The outlook for the year as a whole remains positive while these conditions prevail," it added.

IT services group SSP Holdings said it noted the rise in its recent share price and confirmed that it is in discussions with a financial buyer.

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