News

Small caps round-up: Hot Tuna, Kenmare Resources, India Outsourcing

25 January 2008 13:47:00

Hot Tuna, which provides surf clothing, has won orders for women's swim lines and women's fashion sportswear from the Hard Rock Cafe Boutique store in Las Vegas.

"The Hard Rock Cafe is a prestigious outlet and we are very excited about this new opportunity," said chief executive Niels Juul.

"We are planning to grow this relationship and intend to launch in several of their venues by the summer," he added.

Kenmare Resources was lower after experiencing some 'teething problems' at its Moma mine located in northern Mozambique, resulting in a delay in production ramp up.

The group said it expects to reach full production during the next six months.

"The market for titanium minerals is positive with a favourable trend in prices," said chairman Charles Carvill. "We look forward to many years of profitable production," he added.

Shares in India Outsourcing rallied after the group confirmed it is in advanced discussions for a potential transaction that would constitute a reverse takeover.

Faces Cosmetics, the North American make-up and skin care products firm, saw pre-tax losses widen to C$2.31m in the year to 31 July from C$608,529 last time. Revenue increased 10.6% to C$4.43m.

Manufacturer and supplier of orthopaedic devices Corin Group has appointed Peter Huntley as chief executive. He will take up the position on 1 May 2008, rather than 1 February 2008 as previously expected.

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