News

Initial drilling at Berkeley Resources' New Ojaranzo project in Spain has confirmed uranium mineralisation at potentially economic grades.

"These encouraging initial results will be followed by a Reverse Circulation drilling program later in the year, after the conclusion of the high risk fire season," the company said.

Non-toxic pest control specialist Venteco's losses climbed sharply as take-up of its Cryonite system and poor weather hampered progress. Revenues rose to £4.45m (£0.24m in 2006), benefiting from consolidation of acquisitions Silvandersson and SIK Valiguard during 2007 but pre-tax losses rose to £1.78m from £370,000.

Cryonite is expected to do much better in 2008, though Venteco says slowing economic growth in some areas may mean pricing pressure in more commoditised product areas.

A "very poor "operating performance and huge write-offs pushed losses at distributor Healthcare Enterprise up to £18.2m from £4.1m in the year to February. Turnover for the period was £7.3m (2007: £12.7m). Operating loss before exceptional items increased 34% to £3.1m (2007: loss £2.3m).

"The board continues to believe in the underlying value of the Group's continuing business operations as demonstrated by the implied value of over £4.8m in aggregate for two of our three subsidiaries, and the investments made by existing and past directors, " it said.

Addworth saw net assets rise 55.27% year on year to £3.82m, though the group adw swung to a pre-tax loss of £0.63m.

"Although markets continue to prove difficult we are preparing a number of new flotations in 2008, with interests including insurance claims management, pre-IPO investments, farmer's markets, and greener investments," said executive chairman Mark Watson-Mitchell.

Entertainment Rights said as a consequence of an administrative error, insufficient notice has been given to shareholders to enable it to hold its 2008 annual general meeting on June 4. The AGM will now be re-convened for June 26.