Small caps round-up: Business Control, Polo Resources, Mission Capital ...

10th Jul 2009 10:34

Financial software firm Business Control Solutions remains on track to deliver results in line with market expectations for the full year. The group said its consultancy business has performed 'creditably' in a challenging market with utilisation rates improving in the second quarter. In the software business, sales cycles have continued to lengthen in the six month ended 30 June 2009. Mining firm Polo Resources said West Australian Metals Limited, in which Polo has an 11.1% interest, plans to carry out an extensive drilling campaign at its 80%-owned Marenica Uranium Project in Namibia, in August 2009.Investment vehicle Mission Capital said it and Neil Sinclair & Emma Sinclair have settled all elements of the litigation between them. "All claims and allegations made by the parties arising out of, and in connection with, such litigation have been withdrawn," it said. Allied Gold said it has found significant gold intersections at its Pigibo prospect on Simberi Island, Papua New Guinea. The current drill results confirm that the Pigibo deposit is likely to increase in size from previously stated resource numbers, the company said in a statement. Buildings and engineering products group Alumasc said its results for the year to end-June are likely to be in line with market expectations. The group's cash position remains in good health, thanks, especially, to the high level of cash generated by the Building Products division, and tight cost control.Net debt at 30 June 2009 was £10.3m, up from £9.4m a year earlier. The level of debt represent barely more than half of the group's committed banking facilities.