Small caps round-up: African Eagle, Bioquell, Frontier Mining...

10th May 2010 12:17

African Eagle is "extremely pleased" with the remaining assay results from its recently completed drilling programme at Ngasamo Hill, part of its Dutwa Nickel project in Tanzania."We are extremely pleased with the drill results from Ngasamo," said managing director Mark Parker. "They reveal a deposit which is somewhat thicker than the main Dutwa deposit, and although the average grade appears to be slightly lower, we expect Ngasamo will add significantly to the overall resource base.Parker is also thrilled by a 405 increase in nickel prices this year and 55% year-on-year rise in stainless steel demand from China.Bioquell, the bio-decontamination (BIO-DECON) technologies and compliance services specialist, has tumbled to its lowest in over 12 months following a full-year profits warning."The slow start to the year within the BIO-DECON division has continued into the second quarter despite the year-on-year increase in orders in the first four months - and as a result the performance of the group is likely to be below expectations for the year as a whole," it said. Frontier Mining has reported positive results from the first eight holes of its drill programme at the Benkala Copper development in north-western Kazakhstan.Tests at the 50%-owned deposit revel "slightly" higher (0.63%) copper grades compared to data from the Soviet era (1976-1980) indicating average copper content of 0.55%.Kea Petroleum has started drilling its Beluga-1 exploration well in New Zealand, targeting a depth of 4,000 metres before late June. "Hydrocarbon gas seeps are observed nearby in the river, and it is possible that Beluga-1 may also intersect hydrocarbons at levels shallower than its primary Tariki sandstone target," the group said.Shares in stem cell storage group Cryo-Save jumped 7% as it reported a 5% increase in the numbers of new customers who stored stem cells from the umbilical cord blood and cord tissue in to s 6,600 in the first quarter of 2010. The total number of samples stored was approximately 128,800 at 31 March 2010.Over 30% of these new customers opted for the new combined service of storing stem cells from the umbilical cord blood (haematopoietic stem cells) as well as the cord tissue (containing mesenchymal stem cells), Cryo-Save said.Revenue at Hemmers-Itex Textil Import Export, Leeds Group's German based operating subsidiary, increased to £14.8m (2009: £13.2m) in the half-year to March, with profits of £843,000 against £147,000. Overall, profits for Leeds rose to £744,000 from £139,000. Exchange rate movements may not be as favourable in the second half of the financial year, but sales have started well, it added.Shares in Kazakhstan-focused oil group Roxi Petroleum dropped as it revealed its Galaz NK22 well testing has been delayed with remedial action required. Initial attempts to perforate and test the Arskum sandstone have proved to be unsuccessful due to a poor cement bond and subsequent water influx from behind casing, it said. Outside broadcast specialist Avesco said trading in the six months to end-March remained subdued but was in line with management expectations. Since the end of March things have picked up, especially in North America.The order book is looking a lot healthier, partly as a result of the forthcoming World Cup in South Africa and the World Expo in Shanghai. "Consequently the directors anticipate a good performance for the current financial year taken as a whole," the company said.