Small caps round-up: Hill & Smith, Orsu Metals, Antrim Energy

11th Nov 2010 13:29

Infrastructure and building products supplier Hill & Smith has slumped after a challenging second half in the UK caused by uncertainty created around the Comprehensive Spending Review (CSR). Chiefs now expect underlying profit before tax for the year to 31 December 2010 to be marginally below the previous year. Orsu Metals rallied though following positive results of a scoping study for the Tadybulak gold-copper-molybdenum porphyry deposit in the Kyrgyz Republic.The study establishes key design criteria for an open pit mine scenario with a 15 million tonnes per annum processing facility for average annual recovery of 242,000 ounces gold and 137,600 dry metric tonnes of copper concentrate. Initial capital expenditures is put at about $516m.Argentina-focused oil and gas group Antrim Energy saw its net loss narrow in the third quarter to $1.15m from $1.75m the year before. Revenue eased to $4.02m from $4.24m, with oil revenues down to $2.32m from $2.85m, natural gas sales up to $1.52m from $1.25m and natural gas liquids turnover up to $0.18m from $0.14m.The debt free company had cash of $24.4m at the end of the reporting period. Russian residential and commercial property developer Mirland Development Corporation (MRC) has raised around $18m through an issue of bonds in Israel. The funds from the issue will go toward improving general working capital.