News

Investment company Capital Ideas reported a 77% jump in full-year pre-tax profit and said the current financial year has started strongly.

Pre-tax profit rose to £639,000 in the twelve months to 30 April compared with £361,000 last year. Turnover increased by 250% to £1.763m.

Canada-focused miner Landore Resources said it has confirmed the presence of a large magnetite Iron ore deposit at the western end of the Junior Lake property in Ontario.

Shares in Interactive Prospect Targeting Holdings slumped after the marketing group entered into agreements to amend the terms of its existing €6.5m loan with Barclays Bank.

Drilling at the Mumbwa iron oxide copper-gold project in Zambia, a joint venture between AIM Resources and BHP Billiton, has intersected 130 metres of copper mineralisation.

The copper in hole S36-015, was found between 125-155 metres and 180-280 metres depth, but deteriorating ground conditions during the drilling process forced the group to abandon the target depth of 400 metres.

There were gains for Dwyka Resources Monday after its partner BHP confirmed it had achieved "two substantial intersections of massive sulphide mineralisation" at the Muremera nickel project in Burundi, Africa.

Electrochemical product development company Applied Intellectual Capital has engaged Mirabaud Securities to lead a private equity raise for global electricity storage Plurion Ltd. AIC is a majority owner of Plurion.

AIC has also successfully completed laboratory testing of a thin film bi-polar lead acid battery in a configuration suitable for electric bicycles and scooters.

Anite said it welcomes the office of Fair Trading's not to refer the acquisition of Anite Public Sector Holdings Limited by Northgate Information Solutions to the Competition Commission.

Oil services business Getech surged ahead after it saw revenues for the year rise 15.9% to £4.13m with pre-tax profits jumping 11.7% to £0.9m.

"We anticipate that the demand for gravity and magnetic data will continue to remain strong. With the acquisition of additional data marketing rights during the year, we expect this area to continue to provide a major revenue stream," said the group.