Small cap round-up: Metminco, Nyota Minerals, Park Plaza Hotels

27th Jan 2011 13:47

Shares in mining group Metminco jumped after an update on activities at its copper project in Peru and its gold project in Chile.The company has begun a diamond drilling project at Los Calatos in Peru and said that at Vallecillo in Chile it has identified areas with copper, gold and zinc that are "worthy of drilling."Nyota Minerals moved in the opposite direction after an update on its Tulu Kapi gold project in Ethiopia.The shares fell even after Nyota said that latest findings "encourage our view that there may be a developing gold province."Park Plaza Hotels, which operates in Europe, the Middle East and Africa, said it saw signs of improvement in the second half of 2010 though the full year saw continued pressure on occupancy and room rates."Although there was some improvement in trading during the second half of 2010, it is still too early to comment on whether this improvement represents a more sustained recovery," it said. "The group anticipates that trading conditions in 2011 will remain challenging with continued pressure on occupancy and average room rates reflecting the wider economic conditions."